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Annual Shareholders' Meeting 21 May 2025
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Important Notice This presentation has been prepared by Vista Group International Limited and its related companies (collectively referred to as Vista Group).This notice applies to this presentation and the verbal or written comments of any persons presenting it. Information in this presentation: • is provided for general information purposes only, does not purport to be complete or comprehensive, and is not an offer or invitation or subscriptionor purchase of, or solicitation of an offer to buy or subscribe for, financialproducts in Vista Group; • does not constitute a recommendation or investment or any other typeof advice and may not be relied upon in connection with any purchaseor sale of financial products in Vista Group. The presentation is not intended as investment, legal, tax, financial advice or recommendation to any person.Independent professional advice should be obtained prior to making any investment or financial decisions; • should be read in conjunction with, and is subject to, Vista Group’sfinancial statements, market releases and information available on Vista Group’s website (vistagroup.co.nz) and on NZX Limited’s website (nzx.com) under ticker code VGL; • may contain forward-looking statements about Vista Group and the environments in which it operates. Forward-looking statements can include words such as “expect”, “intend”, “believe”, “continue” or similar words in connection with discussions of future operating or financial performance or conditions.Such forward-looking statements are based on significant assumptions andsubjective judgements which are inherently subject to risks, uncertaintiesand contingencies outside of Vista Group’s control; • although Vista Group’s management may indicate and believe theassumptions underlying the forward-looking statements are reasonable,any assumptions could prove inaccurate or incorrect and, therefore, therecan be no assurance that the results contemplated in the statements will be realised. Vista Group’s actual results or performance may differ materially from any such forward looking statements; and • may include statements relating to the past performance of Vista Group, which are not, and should not be regarded as, a reliable indicator of future performance. While all reasonable care has been taken in compiling this presentation, Vista Group, and their respective directors, employees,agents and advisers accept no responsibility for any errors or omissions. Neither Vista Group or any of its respective directors, employees, agents or advisers makes any representation or warranty, express or implied, as to the accuracy or completeness of the information in this presentation or as to the existence, substance or materiality of any information omitted from this presentation.No person is under any obligation to update this presentation at any time after its release. Unless otherwise stated, all information in this presentation is expressed at the date of this presentation and all currency amounts are in NZ dollars. 2
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Agenda 01 Introduction and Chair's Address Susan Peterson 02 CEO Address Stuart Dickinson 03 Resolutions 04 General Business 3
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Chair’s Address 4
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2024 was a year of strong performance in a challenging environment 5 Sites live on Digital Solutions 3% 4% 15% 35% 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Dec 23 Jun 24 Dec 24 Dec 25 Operational Excellence Digital Enablement and Moviegoer Engagement % of Total Exhibition Clients • Innovation continues to drive client success • Cloud delivery acceleration – 15% of clients on Digital Solutions by the end of 2024 • Relentless focus on improving operating performance
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6 • All-time record revenue • EBITDA margins of 15.5% (excluding foreign exchange) • Free cash flow positive achieved for 2H24 • 2024 share price appreciation of 88% 6 $150.0mTotal Revenue $150.0m $143.0m 2024 2023 2022 $135.1m $134.6mRecurring Revenue 2024 2023 2022 9% $134.6m $124.0m $112.3m $55.7mSaaS Revenue 2024 2023 2022 21% $55.7m $45.9m $38.4m $145.6mARR 2024 2023 2022 15% $145.6m $126.3m $118.0m $21.6mEBITDA 2024 2023 2022 62% $21.6m $13.3m $10.6m $1.8mNet Profit Before Tax 2024 2023 2022 110% $1.8m 5% $16.8mOperating Cashflow 87% $16.8m $9.0m $12.4m 2024 2023 2022 -$17.5m -$22.5m A stand-out financial performance
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Corporate governance remains a priority • 2024 required extensive stakeholder engagement • Steadfastly committed to acting in the best interests of all shareholders • Continued refinement of our executive remuneration framework and related disclosures • 2024 Group Climate Statement demonstrated a year-on-year reduction in total GHG emissions • Governance Roadshow completed in March 2025 7
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Vista Group's Board • Board succession process established, including an evaluation of candidates against the published Board Skills Matrix • Process necessarily paused to resolve the requisition for a special meeting • Process recommenced; outcome expected in coming months • Independent review of Director fees Susan Peterson Independent Chair Murray Holdaway Non-Independent Executive Director Claudia Batten Independent Director James Miller Independent Director Cris Nicolli Independent Director Kirk Senior Non-Independent Non-Executive Director 8
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Thank you and farewell to Kirk Senior • Vista Group connection extends back over 30 years • Originally a Vista Group client (as CEO of Village Cinemas) • Executive Chair from 2010, Director from 2020 • Instrumental in Vista Group’s IPO in 2014 • Led the growth of Vista Group’s market share and expansion into industry verticals 9
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CEO Address 10
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11 11 Free cash flow positive Exceeded guidance by achieving FCF+ for the second half of 2024 Improved operating leverage Surpassed EBITDA margins target with 15.5% (excluding foreign exchange losses) Client growth and onboarding Achieved significant momentum with 17 clients signed during the year and almost 700 sites now using Vista Cloud Software delivery Over 45 new features released on our Vista Cloud and Movio EQ client-facing roadmap 2024 was a year of significant progress
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The Vista Cloud platform value proposition is now proven 2023 Proving product-market fit 2024 Proving delivery at scale 2025 Accelerating delivery at scale, and at pace 12 ~35% of clients live on Digital Solutions
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Our aspiration of $300m ARR at 100% Platform remains unchanged FY24 Revenue $150m 100% Platform ARR aspiration $300mPlatform Breadth Time *Graph not to scale 3% 4% 15% 35% 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Dec 23 Jun 24 Dec 24 Dec 25 Operational Excellence Digital Enablement and Moviegoer Engagement % of Total Exhibition Clients Accelerated Vista Cloud adoptionVista Cloud Platform Aspirations 13
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14 And we have been pleased to announce more client signings in 2025
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Odeon Cinemas Group signs for Operational Excellence for 309 sites across seven territories “Our purpose is to make movies better: more immersive, more memorable, more delicious, and more seamless, and we believe that leveraging Vista Group’s market leading technology will be a vital part of delivering on that purpose. ” Ian Chapple Group Chief Technology Officer, Odeon Cinemas Group 15
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Pathé Cinemas are live on Operational Excellence with all 130 sites across five territories “With enhanced operational efficiency, innovation, and new opportunities to explore, we are excited to maximise the benefits that will come from having all our sites live on Operational Excellence. ” Jean-Christophe Désire Chief Information Officer, Pathé. 16
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Our clients are seeing substantial benefits to being on the cloud journey Then • Previous solution had traffic issues • Seeking robust, reliable, secure app and web solutions Now • Robust scalability of traffic • Effortless interactions for both staff and moviegoers • Seamless, best-in-class digital experiences • Opportunity to embrace ongoing innovation without a resource drain Location USA Size 8 Sites | 58 Screens Capability Digital Enablement Cory Hernandez, Director of Operations “It feels like there is a partnership, and Vista wants us to succeed just as much as we want to succeed.” 17
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As our momentum accelerates, we turn our focus to adjacencies that augment Vista Cloud’s platform breadth FY24 Revenue $150m 100% Platform ARR aspiration $300m Ecosystem and adjacent expansion opportunities Includes potential ecosystem and adjacent areas such as.. • Payments • Family Entertainment Centres • Film Distribution Platform Breadth Time 18*Graph not to scale
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Summary Strong ARR2, forecast to grow by 15%+ per annum from 2025 as clients move to Vista Cloud Growing FCF3 and EBITDA4 as we aspire to deliver a ‘Rule of 40’ Competitive advantage through 46% global market share in the enterprise cinema market1 Increasing total addressable market as cloud transition brings a greater share of client technology spend Expansion opportunities within the film industry and adjacent entertainment industry Increasing industry demand for technology solutions to drive growth and operating efficiency 1 Percentage of the world market for Cinema Exhibition Companies with 20+ screens, excluding China and India. 2 ARR or Annualised Recurring Revenue is calculated as trailing 3 month Recurring Revenue multiplied by four. 3 FCF or Free Cash Flow is a non-GAAP measure calculated using the net movement in cash held, less cash applied to business acquisitions / earn-outs, movements in borrowings, and less cash used to settle exceptional items included within “other gains and losses” (see section 2.3 of the 2024 Annual Report). 4 EBITDA is a non-GAAP measure and is defined as earnings before net finance costs, income tax, depreciation, amortisation and “other gains and losses” (see section 2.3 of the 2024 Annual Report). 19
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Resolutions 20
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Resolution 1 That the Board is authorised to fix the fees and expenses of PricewaterhouseCoopers as auditor for the ensuing year. Proxies and Postal Votes: Number Percentage For 140,831270 99.23% Proxy Discretion 1,083,300 0.76% Against 8,902 0.01% Abstain 563,535 -
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Resolution 2 That James Miller be re-elected as a Director of Vista Group. Proxies and Postal Votes: Number Percentage For 141,286,847 99.18% Proxy Discretion 1,083,300 0.76% Against 79,963 0.06% Abstain 36,897 -
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Resolution 3 That Cris Nicolli be re-elected as a Director of Vista Group. Proxies and Postal Votes: Number Percentage For 138,130,808 97.40% Proxy Discretion 1,083,300 0.76% Against 2,597,237 1.83% Abstain 675,662 -
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Resolution 4 That the maximum aggregate annual remuneration payable to non- executive Directors be increased by $265,000, from $725,000 to $990,000 (plus GST as appropriate), for six Directors. Proxies and Postal Votes: Number Percentage For 138,614,501 98.10% Proxy Discretion 1,051,776 0.74% Against 1,636,264 1.16% Abstain 729,194 -
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Questions
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Thank You Thank You