Final Results Presentation 29 February 2016

Financial

Results

0

5

10

15

20

2011 2012 2013 2014 2015

5 yr CAGRs: Revenue: +24% EBIT: +27% Operating Cash flow: +39%

£m Revenue

EBIT

Operating cash flow

0,000

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Subscription Base

KPIs

Fleet revenues (£’000) 12,957 11,038 17.4

2015 2014 % change

Fleet subscription base (units) 73,744 59,765 23.4

Fleet customer base 7,849 6,342 22.6

Fleet attrition (annualised) (%) 11.3 9.4

Fleet installations 21,518 16,355 31.6

Insurance revenues (£’000) 6,718 4,293 56.5

Insurance installations 57,295 32,842 74.5

Fleet invoiced recurring revenues (£’000) 11,828 9,816 20.4

Recurring

Revenues

0.0

2.0

4.0

6.0

8.0

10.0

12.0

2014

2013

2012

2011

2010

2009

2002 to

2008

2015

The chart shows invoiced fleet rental

and communications revenues segmented by year of customer

acquisition

£m

Overview

Revenues Fleet Insurance

Total

Gross profit Gross margin

Operating profit Operating margin

Net profit

Adjusted Earnings per share (p) Adjusted cash generation from operations

Operating profit to operating cash conversion

12,957 6,718

19,675

12,150 62%

6,045 31%

5,014

10.69

6,781

112%

11,038 4,293

15,331

9,943 65%

4,885 32%

4,032

8.52

5,523

113%

17.4 56.5

28.3

22.2

23.7

24.4

25.5

22.8

2015 2014 % change

Year ended 31st December - £’000 (except where stated)

Financial

Results

Net cash: £3.0m at year end

Proposed final dividend

4.0p per

share

EPS up 25% to

10.69p per share

FCF up 20% to

£5.4m (2014: 4.5m) 5.4

0.2

2.3

3.0 2014: net debt of £0.2m

Free cash flow

Dividends paid

£m Net cash

Dividend Policy

The current policy is to pay out 50% of

free cash flow (defined as cash generated from operations, less

taxes)

6,781

£’000

1,092

Cash flow from

operations

Less interim

dividend 50%

2,845 940

1,905

Less taxes paid

Final dividend

Interim dividend: 2.0p per share

Final dividend: 4.0p per share

Supplementary Dividend

Year end cash balances in excess of £2m after the final dividend will

be paid as a supplementary

dividend, subject to minimum of 2p per

share

£’000 2015 year end example

Year end cash balance 4,040

Year end final dividend 1,905

Amount over £2m 135

2,135

Cash required for 2p per share 944

No supplementary dividend for 2015

“We have seen improved driving standards utilising the Quartix driving style reports, resulting in reduced vehicle incidents and an 18% improvement in fuel consumption.” Andrew Gibbons, Fleet CI Manager, Ginsters Ltd

“Using the Quartix system we have reduced communication costs with our drivers by 50%.” Arnaud Richter, Directeur Exploitation, SLTI

Fleet

Tracking

0

5,000

10,000

15,000

20,000

2014 2015

Units

32% growth in new fleet installations

21,516

16,337

Fleet

Tracking

0

20,000

40,000

60,000

80,000

2011 2012 2013 2014 2015

Fleet base 5 year CAGR

20%

Active vehicle subscriptions

29,991

73,744

Fleet UK

0

2

4

6

8

10

12

2014 2015

£11.7m

Revenue

£m

0

10000

20000

30000

40000

50000

60000

2014 2015

62,655

Subscriptions

0

5000

10000

15000

2014 2015

15,566

Installations

0

2000

4000

6000

2014 2015

5,960

Customers

+ 15% + 15% + 13% + 12%

Fleet France

0.0

0.5

1.0

1.5

2014 2015

€1.4m

Revenue

€m

0

2500

5000

7500

2014 2015

7,190

Subscriptions

0

1000

2000

3000

2014 2015

3,145

Installations

0

500

1000

2014 2015

1,196

Customers

+ 48% +38% + 52% + 34%

Fleet USA

0.0

0.1

0.2

0.3

0.4

2014 2015

$0.4m

Revenue

$m

0

1000

2000

3000

2014 2015

3,179

Subscriptions

0

1000

2000

3000

2014 2015

2,805

Installations

0

250

500

750

2014 2015

693

Customers

Insurance Telematics

0%

5%

10%

15%

20%

17 18 19 20 21 22 23 24 25 26 27

Estimated proportion of market by age

Estimated market size 250-300k

per annum

Insurance Telematics

Growth: 74% volume

2014 2015

0

1

2

3

4

5

6

7

2014 2015

Installations Revenue

£m units

56% revenue

4.3

6.7

32,842

57,024

Research and

Development

US network approvals TCSV10 3G

IFTA Reporting

iOS & Android Apps

TCSV11

Temperature Monitoring

Quartix Web Services

SafeSpeed Database

API

Summary and

Outlook

• Strong growth in subscriptions underpins

recurring revenues in fleet

• Good progress in all three fleet markets

• Good profit growth despite increased

investment in new markets, new installations

and increased plc costs

• Strong cash generation enables high returns to

shareholders

Final Results Presentation Appendix: Introduction to Quartix

GPS

GPRS

Operations

Leatherhead

Cambridge Newtown

Bishop’s Waltham

Chicago

“We have always found Quartix to be customer-focused and approachable. We look forward to continuing our partnership for the next 15 years.” Phil House, Director, Broadland Guarding Services Ltd.

Final Results Presentation 29 February 2016