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Preliminary Results PresentationMay 2018

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Subash MenonManaging Director

Subash co-founded Pelatro in April 2013.Prior to Pelatro, Subash was the CEO andFounder of Subex – a company hetransformed from a systems integrator intelecoms hardware to a global leader intelecoms software for businessoptimisation. Subash also guided Subexthrough a successful IPO in 1999 andthrough seven acquisitions in the UK, USand Canada.

Nicholos HellyerFinance Director

Nic, is a Chartered Accountant and formerinvestment banker of over 25 years ofexperience. Nic spent the majority ofhis banking career at UBS and HSBC,advising on a wide range of transactionsincluding public takeovers, private M&A,IPOs and other equity fund raisings. Nic hasalso spent time in industry as CFO of BuddiLimited, and is currently consultant to OpusCorporate Finance.

Presentation Team

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Overview

▪ Founded in 2013, Pelatro has developed and deployed its proprietarytechnology, mViva, to provide precision marketing, particularly for Telcos

▪ IPO in December 2017 raising £3.8 mln for the company, at 62.5p per share

▪ mViva uses Big Data analytics to channel the right offer, to the right customer,at the right time

▪ Pelatro’s precision marketing delivers Telcos up to 5% incremental revenueper year

▪ Existing customer base includes Tier 1 Telcos in developing markets

▪ Profitable, cash generative and strong revenue visibility

▪ Headquartered in the UK, with subsidiaries in US and Singapore and softwaredevelopment in India, employing 60 people

▪ Founding team has track record of execution

▪ Recently signed largest ever contract for $1.7 mln with a Central Asian OpCoof a Western European Telco

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Highlights – 2017

▪ Revenue of $3.15 mln, up 161% (2016: $1.21 mln)

▪ Adjusted EBITDA $2.0 mln (2016: $0.5 mln); PBT $1.8 mln (2016: $0.4 mln)

▪ Adjusted EPS of 8.9c (2016: 2.2c)

▪ Revenue mix: License (72%), Gain Share (15%), Services (5%) and Hardware (8%)

▪ Net cash of $3.1 mln following IPO at year end

▪ Added 4 new customers taking the total to 7

▪ Acquisition of Software Development Centre in Bangalore, India to bring development and support fully in-house

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The Market

CSPs lag behind other verticals in rolling out comprehensive MCCM capabilities. The market offers goodgrowth opportunities for vendors. There are a small number of CSPs, mostly in emerging markets, whichwill have 50 different real-time, multichannel campaigns — most are still working with one or twocampaigns.

Multi Channel Campaign Management Report 2017Gartner Inc.

CSP – Communications Service ProviderMCCM – Multi Channel Campaign Management

▪ In the telecom industry, emerging markets have faced tougher competition, making it necessary for them to be more innovative with marketing initiatives

▪ Developed telecoms markets seen as mature and ex-growth; always looking to increase ARPU to drive top line

▪ Pelatro has developed proprietary technology which is end-to-end, robust, flexible and easy to use

▪ Competitive positioning – chosen by Tier 1 Telcos to replace solutions from IBM, Oracle etc.

▪ Pelatro’s strong position in emerging markets places the Company well to enter new geographies in the developed markets

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Telco Market Dynamics

Source: Strategy & Research and Analysis 2017

Average Revenue Per User (ARPU) dropping

Subscriber addition dropping

Source: GSMA Intelligence 2016A

RP

U

Unique mobile subscriber penetration (global average)

Mobile subscriber penetration Subscriber growth (year-on-year)

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Peter

Margaret

▪ Marketing to a Segment of One (N=1)

▪ Highly relevant offers

▪ Contextually connected offers

▪ Closed loop marketing

Using data-driven insights to deliver the right message, to the right person, at the right time, through the right channel

Precision Marketing

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Pelatro Methodology

▪ Generate a detailed profile for each subscriber by collecting all available data from

different data sources within the Telco’s operations

▪ Generate personalised campaigns that will be relevant to each individual subscriber, on

the basis of the analysis of profile and behavioral data available

▪ Dispatch campaigns through relevant channels, track response and fulfill rewards

▪ Keep improving the efficacy of the campaigns through machine learning

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mViva deploys customised and proprietary Big Data technology to deliver end-to-end solution –patent filing in process for IP protection of highlighted technologies

Proprietary Technology

SmartHypercubeBased datamodelling

NimbleIn-Memorydistributed

cache

Intelligent NDimensional

Vector searchframework

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Singapore

Bangladesh

Sudan

Global Footprint

US

Cambodia

Office Locations Customer Locations

Morocco

UK

Sri Lanka

Malaysia

Bahamas

Kazakhstan

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Pipeline

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▪ Asia – 2 nos.

▪ Africa – 12 nos.

▪ Central & Eastern Europe – 2 nos.

▪ Central and Latin America – 4 nos.

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Robi Axiata – Case Study

Robi Axiata is the 2nd largest mobile operator in Bangladesh

▪ Previous providers: UK company, Business Logic Systems (wholly owned by NASDAQ listedEvolving Systems Inc.) could not meet Robi’s requirements. FlyTxt replaced them through aconventional RFP, but could not implement

▪ Robi resorted to a different process and invited various providers (IBM, SAS, Intersec,Lumata, Pelatro and others) to demonstrate a set of use cases. This process was repeatedthree times as the use cases became more complex and some providers were shortlisted

▪ Those on the final shortlist were thoroughly examined on a number of technical aspectslike product architecture, deployment architecture, scalability, high availability, computingenvironment etc. and Pelatro was chosen for a Proof of Concept (PoC) implementation

▪ Upon successful completion of the PoC, Robi Axiata entered into a contract with Pelatroand paid us the recurring licence fee for 25m subscribers

▪ After a few months, Robi procured a licence for unlimited subscribers

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Robi Axiata – Case Study Contd.

▪ Benefits for Robi Axiata

✓ Campaign take up rate doubled

✓ RoI of 8 to 10 months

✓ Incremental revenue of US$ 3 mln in the 1st year (including the ramp up period) going up to US$ 4 to 5 mln from the 2nd year onwards

▪ Benefits for Pelatro

✓ Large and well respected network belonging to the Axiata Group as reference, with operations in 8 countries

✓ Contracts won with other Axiata Group opcos like Smart, Cambodia and Dialog, Sri Lanka

✓ Other opcos of the Axiata Group are in discussion with Pelatro

✓ More opcos of the Axiata Group opting for mViva from Pelatro demonstrates their appreciation of mViva and their confidence in Pelatro

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Telco Market Opportunity – Medium Term

Total : 12Target Group : 5

Total : 116Target Group : 60

Total : 140Target Group : 120

Total : 160Target Group : 105

Total : 34Target Group : 26

Total : 56Target Group : 46

North America

Latin America

Africa

Europe

Middle East

APAC

▪ Overall market forecast to grow to US$ 2.7Bln in 2019▪ CAGR from 2014 to 2019: 19% Source: Markets & Markets 2016

362

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Revenue Gain Share

Licence

Managed Services

Pelatro earns a share of the monthly revenue gain generated by our product –10% to 20%

Customers:Bahamas TelecomSudatelExpresso

Licence: Pelatro licenses the product with additional licence fee based on growth of subscribers in the network

Includes on-going maintenance income ranging from 10-15% of the cumulative licence fee and Change Requests

Customers:

All other customers includingTele2

Pelatro earns a fixed monthly fee for providing the product and managing the operations

Customers:

Tele2

Revenue Models

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No. of Customers – 1 No. of Customers – 3

No. of Customers – 7

Customer Concentration

Increasing diversity of customers and regions – reducing customer concentration over time

2015 2016

2017

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Financial Information

Profit and Loss 2016 2017

US$’000 US$’000

Continuing operationsRevenue 1 1,205 3,146Cost of sales 2 (632) (799)Gross profit 573 2,347Other income - -Adjusted Administrative expenses 3 (213) (546)Adjusted Operating Profit 360 1,801Exceptional Items (701)Statutory Operating Profit 1,100Finance Expenses (4)Profit Before Taxation 1,096Income tax expense - (252)Profit for the year from continuing operations 360 844Discontinued operations(Loss) for the year from discontinued operations 4 (49) -Profit for the period/year 311 844Attributable to:Owners of the Company 314 830Non-controlling interests (3) 14

311 844

FX differences (19) (2)Gain on bargain purchase of minority interest 14Other comprehensive income (19) 12

Total comprehensive income 292 856

Attributable to:Owners of the Company 297 842Non-controlling interests (5) 14

292 856Earnings per shareFrom continuing operations 2.0c 4.8c

Notes:

1) Revenue (and cost of sales) for 2017 includes $262,000 arising from sale of hardware to a customer

2) Other than the amount referenced in Note 1, Cost of Sales represents amounts invoiced from Pelatro India and expensed

3) Includes amortisation of intangibles of $43,000 (2015), $139,000 (2016) and $202,083 (2017)

4) Discontinued operations represent Pelatro India, acquired in July 2015, disposed of in April 2016; figures shown are net of notional inter-company profit of $20,000 (2015) and $10,000 (2016) –underlying profit/(loss) in subsidiary was $36,000 (2015) and ($34,000) (2016)

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Financial Information

Balance Sheet as on 31.12.2016 31.12.2017US$’000 US$’000

Non-current assets Intangible assets 1 357 1,211Property, plant and equipment 30Deferred tax asset 113Total non-current assets 357 1,354Current assets Trade and other receivables 2 157 1,778Other Assets 217Cash and bank balances 196 4,126

353 6,121Assets classified as held for sale - -Total current assets 353 6,121Total Assets 710 7,475Current liabilities

Trade and other payables 331 474Short-Term Borrowings - 774

331 1,248

Total current liabilities 331 1,248Borrowings - 266Total non-current liabilities - 266Total liabilities 331 1,514EquityCapital 20 801Share Premium - 4,472Retained earnings 359 1,203Other Reserve - -529Foreign exchange reserve -Equity attributable to owners of the Company 379 5,947Non-controlling interests - 14Total equity 379 5,961

Total equity and liabilities 710 7,475

Notes:

1) Represents value of amounts invoiced from Pelatro India and capitalised (c. 40% in 2015, 36% in 2016, 59% in 2017)

2) Largest receivable relates to a large contract with a hardware element, since year end approximately 40% of year end receivables collected with visibility on remaining payments

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Financial Information

Cash Flow 2016 2017

US$’000 US$’000

Profit for year 844 311Operating cash flows before movements in working

capital1 1,303 460

(Increase)/decrease in trade and other receivables 59 (1,698)Increase/(decrease) in trade and other payables (72) 440Cash generated from operating activities 447 45Income tax paid - 78Net cash generated from operating activities 447 (33)

Net cash used in investing activities (401) (744)Net cash generated by/(used in) financing activities 54 4,707Net increase in cash and cash equivalents 100 3,930

Net foreign exchange differences (23) -

Cash and equivalents at beginning of period 119 196Cash and cash equivalents at the end of the period 196 4,126

Net cash and cash equivalents at the end of the

period196 3,086

Notes:

1) Add-backs include income tax expense; depreciation; amortisation (2016: $138,000, 2017: $202,000);

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Positioning for Further Growth

Historical Financial Information

▪ Appointed new Sales Director for North & West Africa and Central & Eastern Europe

▪ Entered into largest ever contract with a Central Asian subsidiary of a Western European Telco

▪ $1.7 mln contract including license fee, implementation and managed services for one year

▪ Customers experiencing revenue increase of 3% to 5% with established usage of mViva

▪ Strong pipeline for 2018 and beyond from both existing and new customers

▪ Existing clients also driving business through change requests and managed services

▪ Potential for bolt-on acquisitions

▪ Well positioned for success as technology leader at right price point

▪ Full revenue visibility for 2018 revenue forecast

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Growth Strategy

Telco

Telco – US & Europe

Telco

FinanceRetail

Telco

Telco – US & Europe

Telco

Telco – US & Europe

Telco

FinanceRetail

2018 2019 2020

Current Product, Current Market

Current Product, New Market

New Product, Current Market

Current Product, New Vertical

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Telco

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Summary

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▪ Strong 2017 performance, together with IPO proceeds, position Pelatro well for the future

▪ Full visibility for 2018 revenue, thanks to largest contract win

▪ Enhanced pipeline generated by expanded sales team

▪ Acquisition opportunities

▪ Continued investment in product

▪ Good start in the year leading to further progress

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Appendix

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Customer Reference

Campaign management is an area which needs tremendous flexibilities as new requirements and new ideaskeep on coming every day and Pelatro scores high from both technical and people perspectives. mViva’s stateof the art technology framework optimizes not only the infrastructure cost with the use of Hadoop but alsoaccelerates time to market, thanks to the compatibility with virtualized environment. From a peopleperspective, Pelatro team has a comparatively better Telco business understanding compared to othervendors we have worked with, namely in their ability to come up with proactive recommendations to improvethe business outputs. The tremendous rigor to handle new requirements and the can-do mindset from top tobottom are to be praised. We compliment Pelatro’s high spirited team who are always willing to go beyondlimits to reach excellence.

Supun Weerasinghe, Group CEODialog Axiata Plc, Sri Lanka

In the past, telcos mainly focused on customer addition to achieve growth. Given the penetration andcompetition, that strategy will not work anymore. This means telcos must focus on customers quiteextensively in order to mine them deeply. For that to be possible, telcos must have deep understanding ofeach customer which can only be attained using big data analytics and campaign management solution.Thus, now and in the years to come, campaign management is a critical function that all telcos will stressupon and invest in as the key activity for sustained growth. This is evident from the CLM teams that telcosare now setting up to work exclusively in this critical area.

Kamal Okba, Director B2CInwi, Morocco

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Customer Reference

Robi was looking for an end to end campaign management system with the capability of smart profiling,segmentation, dynamic offer creation, intelligent communication, execution and campaign performanceanalysis. Having all these under one platform was really challenging. The integration of mViva in Robi Axiatawas a very complex and difficult project due to the number of points of integration, critical nature ofthe network elements, velocity of transactions, real time operation and the extremely large volume of datainvolved. Pelatro excelled in this task due to their deep knowledge of the domain and network therebyensuring a smooth, efficient and successful implementation. Pelatro has been welcoming our newrequirements with great spirit. They are always willing to go beyond the scope to excel in performance.Mohammad Saiful Islam,

GM – IT & Charging Tech. Robi Axiata Limited, Bangladesh

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Board Members

Subash Menon Sudeesh Yezhuvath Nic Hellyer Richard Day

Founded Subex and led its growth from zero revenue to US$ 120 million in telecom software within a span of 8 years during which period he took the company public and also concluded several acquisitions.

As COO of Subex, was responsible for all business functions including Sales, Marketing, Engineering, Product Management, Human Resources etc. He has had varied experience in leadership positions over a 26 year period.

Nic, is a Chartered Accountant and former investment banker of over 25 years’ experience. Nic spent the majority of his banking career at UBS and HSBC, and has also spent time in industry as CFO and consultant .

A qualified solicitor, co-founded Arden Partners. Was instrumental in launching and Cogenpower to the AIM market. Is the CFO of AIM listed iEnergizer and is on the board of EGS Energy.

Managing Director Executive Director Finance Director Non-Executive Chairman

Pieter VerkadeNon-Executive Director

Pieter spent 20 years working in numerous C-level and board roles for various companies within the telecom industry. These included Telenor, Orange and MTN, where he worked across both Europe and Africa.

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1999 2004 2008

Start-up competing with Ericsson,

Alcatel, HP etc

Start-up

75+ Installations 40+ Countries

Global Leader

200+ Customers 70+ Countries

Global Dominance

Founded by Subash in telecom Fraud & Revenue Assurance space -Revenue grew from US$ 3.24 million in 2000 to over US$ 100 million in 2012, recording a CAGR of 33% – Listed on NSE (India), BSE (India), LSE,

Singapore Exchange and Luxembourg Exchange

Track Record – Subex Story

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Current Shareholding Structure of Pelatro Plc

Note: Kiran Menon and Varun Menon are the sons of Subash Menon; Sudeesh Yezhuvath and Suresh Yezhuvath are the brothers of Subash Menon

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Name of the Shareholder No. of Shares Holding

Kiran Menon 4,842,122 19.9%

Varun Menon 4,842,122 19.9%

Sudeesh Yezhuvath 3,309,309 13.6%

Suresh Yezhuvath 2,294,613 9.4%

Herald Investment Management Ltd. 1,600,000 6.6%

Artemis Fund Managers Ltd. 1,200,000 4.9%

Rathbones Investment Management 1,089,828 4.5%

Maven Capital Partners UK LLP 800,000 3.3%

Free Float 4,335,258 17.8%

Total 24,313,252 100.0%