Dr. Gottfried Greschner, CEO

Jennifer Bodenseh, CFO

Public and private transport companies of local transport

Market segments:(taxi), bus, tram, city train/subway/regional rails/LRV, (long distance train)Interfaces to car sharing, bike sharing and individual transport

Suppliers/subcontractors (OEM or vehicle manufacturers)

Partly competitors of init

25 Mar 20192

25 Mar 2019

Clean Air

UrbanisationBy 2050 6,2 billion peoplewill be living in cities

Smart CitiesMake cities more efficient,

digital, and sustainable

Sharing EconomyCarSharing, BikeSharing, etc.

CO2 reductionGoal is the CO2 neutralityof the economy

DigitisationUbiquitous Real-time

information (smart apps)

Autonomous DrivingGradual implementation

Global Megatrends

Megatrends Mobility3

4 25 Mar 2019

201026 trillions passenger kilometres

203043 trillions passenger kilometres

205067 trillions passenger kilometres

Quelle: Berg Insight ITS Report

„… the market for ITS in public transport is in a growth phase which will last for several years to come." Berg Insight 2018

5 25 Mar 2019

…and several more

USPs with regard to the Megatrends

Since 1983 INIT‘s business is digitisation !

Product portfolio is ready for e-mobility

Autonomous vehicles can be integrated

World-wide innovation leadership in ticketing: ID-based ticketing, API …

25 Mar 2019

General USPs

More than 600 existing customers with strong potential for recurring business even apart from tenders

International sales organization and integrated solution approach opens potential for cross-selling

Expansion of the maintenance and operating business ensures recurring long-term revenue

6

+100,000vehicles equipped

+35years of experience

+600customers worldwide

+800employees worldwide

+25locations worldwide

+135million EUR revenue

+130ticketing systems

+120ITCS/RTPI systems

25 Mar 20197

8 25 Mar 2019

ITCS – Intermodales Transport Control System, Real-Time Information and subsystems

Electronic Ticketing

Vending Devices (stationary, mobile, smartphone)

Background system (account and fare data management, accounting systems, …)

Automatic passenger counting

Timetable planning and dispatching of drivers and vehicles

Further modules e.g. traffic signal priority, announcement technology, display technology, diagnostic systems …

9 25 Mar 2019

System Business (Products + Projects + Services)

Follow-up orders for system business

Delivery business (e.g. iris)

Hardware and Software Maintenance incl. Hotline

New business segment: System operation

INITInnovative Informatikanwendungen

in Transport- Verkehrs- und Leitsystemen GmbHKarlsruhe, Germany

init innovation intraffic systems SE

iris-Gmbhinfrared & intelligent sensors

Berlin, Germany

maBinso software GmbHHamburg, Germany

iris – infrared & intelligent sensores NA, Inc.

Atlanta, Georgia/USA

Sensores infrarrojos einteligentes iris ltda.

sensores NA, LLCSantiago de Chile, Chile

CarMedialab GmbHTelematik für Automotive

Bruchsal, Germany

CarMedialab Corp.Santa Monica, California/USA

INIT Innovationsin Transportation Inc.

Chesapeake, Virginia/USA

SQMSuperior Quality

Manufacturing LLC.Chesapeake, Virginia/USA

TQATotal Quality Assembly LLC.

Chesapeake, Virginia/USA

Bytemark Inc.New York City, New York/USA

100%

100%100%

58.1%100%

75%

12.4%60%

100%

74.5%48%

INIT PTY LTDBrisbane, Australia

INIT Innovationsin Transportation

(Eastern Canada) Inc.Montréal, Canada

INIT Innovationsin Transportation

(Western Canada) Inc.Toronto, Canada

INIT Innovationin Traffic Systems FZE

Dubai, UAE

INIT Innovationsin Transportation Ltd.

Nottingham, Great Britain

INIT Swiss AGNeuhausen, Switzerland

INIT Asia-Pacific Pte. Ltd.Singapore

GO-1 LLC.Chesapeake, Virginia/USA

initperdis GmbHHamburg, Germany

HanseCom Public Transport Ticketing Solutions GmbH

Hamburg, Germany

inola GmbHPasching, Austria

initplan GmbHKarlsruhe, Germany

Australia: Adelaide

Germany: Braunschweig, Leipzig, Oldenburg

France: Saint-Cloud, Valence

Great Britain: Edinburgh

India: Bengaluru

USA: New York, Seattle

UAE: Abu Dhabi

Further Sales and Service Points

INIT Innovation in Transportation NZ LtdDunedin, New Zealand

Mattersoft OyTampere, Finland

INIT Innovations in Transportation Ltd.Maynooth, Ireland

25%

25 Mar 2019

99.99%

10

25 Mar 201911

25 Mar 201912

Vehicle Equipment Planning and Control Software

Stationary Equipment Maintenance and Operation

25 Mar 2019

EVENDpc2 PIDvisio3 MOBILE-ITCS MOBILEvario

VENDstation PIDscreen Service Hosting

13

1997object oriented

ITCS design

2002New on-board

computer Windows XPEmbedded

2007Multi-client-

capable control system

2010On-board-transfer

information

2011Hosting solution

for software systems

2012Android on-board

computer app for on-demand transportation 2013

iPhone, Web App, Social Media in

passenger information

1999VoIP for radio

system

2015ID-/ Account

based ticketing

2017World´s first

virtual smartcard

2018MaaS

ElectromobilityAutonomous Driving

2007Driver console

navigation

Innovations & technological leadership

25 Mar 201914

25 Mar 2019

init takes over Mattersoft / Finland Central software that intelligently switches "green" for buses and trains

Location Dublin / MaynoothFirst foreign location focusing on development

Los Angeles–Strategic major order for stationary ticketing machinesFirst order as a single business in the area of ticketing machines

Turku–first application of credit and bank card standard EMV in public transport in ScandinaviaMilestone project in the region

Seattle – Electronic ticketing system of the next generation Largest order in group‘s history

Portland – Hop Fastpass Award “2018 Innovative Solutions” for the delivery of the TriMet open payment Hop Fastpass® system

15

25 Mar 2019

HanseCom-One million users at HandyTicket Germany Every month about 20,000 new users. In the meantime, around 50 transport companies and transport associations have joined as partners and offer their services via HandyTicket Deutschland

CUTA selected init for Climate Adaption Strategy Award York Regional Transit (YRT): an average 50% reduction in unsafe and uneconomical vehicle use

Cooperation init und Bestmile regarding autonomous driving

Together, the companies develop mobility solutions for driverless fleets integrated in public transport systems

Metropolitan Transit System, San Diego signed the contract init supplies an account-based, open architecture electronic fare system

Abu Dhabi continues to place its trust in an init solution Control of City Transport buses in the metropolitan region on the Gulf

16

25 Mar 2019

103.0 105.3108.6

130.6135.7

145.0

2014 2015 2016 2017 2018 2019e

(in EURm)

New revenue record 2018

Budget target achieved

17

25 Mar 2019

30%

23%

41%

7%

average2014-2018 2018

30%

22%

37%

11%

Germany

remaing Europe

North America

others

18

25 Mar 2019(in EURm)

18.7

10.811.7

8.6

6.4

7.5

2014 2015 2016 2017 2018 2019e

EBIT fell short of theforecast:

• devaluation Bytemark

• additional work for newdevelopments in ticketing projects

19

25 Mar 2019

12.1 12.1

7.6

8.6

3.6

2.4

2013 2014 2015 2016 2017 2018

Consolidated net profit fell:

High tax rate due to specialeffects, e.g. devaluationBytemark

(in EURm) 20

25 Mar 2019

78.1

67.2

128.7

139.4

161.8 150-160

2014 2015 2016 2017 2018 2019e

(in EURm)

Order income significantlyabove previous-year level

Target exceeded

Highest level in company‘shistory

21

25 Mar 2019

143

122

81

111117

143

2013 2014 2015 2016 2017 2018

(in EURm) 22

25 Mar 2019

11.4

0.5

11.5

13.2

2.0

12.8

2013 2014 2015 2016 2017 2018

(in EURm)

Cashflow significantlyabove previous-yearlevel:

Active receivablesmanagement

23

25 Mar 2019

41.545.0

2017 2018

73.3 75.8

2017 2018

Equity ratio in % Equity in EURm

24

25 Mar 2019

27.6 27.9

6.911.5

2017 2018

total 34.5 total 39.4

Basic development 2018:

8.5 % of revenues

Project-based new andfurther developments2018:

21.4 % of revenues

(in EURm) 25

25 Mar 2019

0.100.14

0.16

0.30

0.60

0.80 0.80 0.80 0.80

0.200.22 0.22

0.12*

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

(in EUR)

*Proposal to the next Annual General Meeting

26

Order backlog as of 31 Dec 2018 EUR 143m

Incoming Orders 2018 EUR 162m

Revenues 2019e EUR 145m

EBIT 2019e EUR 7.5m

25 Mar 201927

© 2017 Copyright init SE - This document contains proprietary information and must be treated confidentially.

IR contact:init innovation in traffic systems SEKaeppelestr. 4-1076131 Karlsruheir@initse.com

Annual Report 2018 / press conference

Quarterly Statement 1/2019

Annual General Meeting

Half-year Report 2019

Quarterly Statement 3/2019

25 March 2019:

9 May 2019:

15 May 2019:

8 August 2019:

7 November 2019: