PowerFleet : Investor Fireside Chat

Investor Fireside Chat

April 30, 2024

Safe Harbor

This presentation contains forward-looking statements within the meaning of federal securities laws. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements. For example, forward-looking statements include, without limitation, statements regarding the integration of our and MiX Telematics' businesses and the ability to recognize the anticipated synergies and benefits of our business combination with MiX Telematics. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees and are subject to risks, uncertainties and other factors described from time to time in our periodic filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by these forward-lookingstatements. The forward-looking statements included in this presentation are made only as of the date of this presentation, and, unless otherwise required by applicable law, we assume no obligation to update any forward-looking statements, and expressly disclaim any obligation to do so, whether as a result of new information, future events or otherwise.

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Who You Will Hear From Today:

Steve Towe

Chief Executive Officer

David Wilson

Chief Financial Officer

Melissa Ingram

Chief Corporate

Development Officer

Jonathan Bates

Chief Product Officer

Charles Tasker

Chief Revenue Officer

Josh Betz

GM, North America

Brendan Horan

GM, Africa

Andrea Hayton

Chief Marketing Officer

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Agenda

Business Strategy for the Combined Entity Value Creation Opportunity and Two-Year Plan

Unity Ecosystem Strategy and Wallet Share Opportunity Our Growth Story to Accelerated Double-Digits Integration Execution and EBITDA Expansion Unlock Closing Comments

Q&A

Our Core Values

It's All About People and Relationships

We build and nurture long-term relationships with each other, our customers and suppliers - all of whom we treat as partners.

Togetherness

We win together, celebrate together, and support each other. We do not blame or put individual benefit ahead of our team goals.

Fully

Inclusive

We cultivate an environment where differences are embraced and supported, and where people can bring their whole selves to work.

Have a

Growth Mindset

We are innovative, forward thinking, and bold. We make data-driven decisions, and we learn from our mistakes. We embrace change.

Integrity

Matters

We all have a responsibility to be authentic, trustworthy, honest, transparent, and respectful. We will treat others as we expect to

be treated.

We

Deliver

We pride ourselves in delivering superior results and a craved customer experience. We execute effectively and get things done.

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The New Powerfleet

"A Golden Ticket to the AIoT Market Leadership Race"

7,500 enterprise customers worldwide

total revenue	1,800
$285m	members
	tenured and talented team
total subscribers worldwide	continents with
physical
1.9 million	countries
	geographic
	presence
75%	6 across 120
EBITDA
services revenue	$43m

The Powerfleet Unity Data Highway Monetization Strategy

Customer Acquisition through Device Agnostic Data Ingestion

The data highway begins with our unique device and data source agnostic ingestion engine. We then apply AI and ML to the dataset to harmonize, transform, and simplify the data into actionable insights for business improvement, leading to frictionless customer acquisition.

Improving Wallet Share with Mission Critical, AI SaaS Applications

Our AI and data-science led modular SaaS applications enable our customers to proactively and predictably solve challenges in the areas of safety, sustainability, compliance, insurance, and operational efficiency.

Unified Business Operations with Flexible Data Consumption

Driving performance of physical mobile assets, the human beings operating those assets, and the surrounding business processes. We deliver these insights through through deep 3rd-party integration capabilities, creating enhanced customer stickiness.

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Our "Eye of the Tiger" Focus Areas

Further Scale Unity Rapidly to Match Increased Customer Demand

• Scale up our data ingestion and harmonization capabilities, amplifying our Unity data highway
• Double down on investment in our AI and data science-led enterprise SaaS applications
• Enhance data integration and customer consumption channels
• Offer Unity capabilities to all Mix customers within 6 months

Scaling Out Go to Market and Drive Expanded Pipeline

• Increasing Sales and Customer Success resources in our core growth markets
• Drive cross sell/up sell activities across combined underpinned by Unity
• Investing to accelerate business from reseller and partner channel
• Launch unique In-Warehouse and On-Road GTM capabilities for all regions

Realize Enhanced Financial Performance

• Pivot cost base to accelerate revenue growth
• Deliver readily available
  revenue synergies with speed and quality of execution
• Drive gross margin expansion through economies of scale
• Unlock a steady quarterly climb of net dollar retention through Unity
• Cash is King DNA to drive positive free cash flow

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Value Creation Opportunity and Two-Year Plan

David Wilson, Chief Finance Officer

Reiterating Guidance to Meet & Beat Rule of 40 in Two-Years

($ in millions)		Projections (FY)		Overriding priority in the short-term is the rapid expansion of
	March '24	March '25	March '26	Long-Term	EBTIDA
	•	Predictable line of sight and readily accessible
	Targets
Revenue	+$285	~$300	~$340
% YoY Growth		5%	10%	+20%	Fiscal 2025 primary focus is on EBITDA expansion while
					simultaneously further scaling Unity and stepping up
					GTM capabilities and capacity
Gross Profit	~$160	~$180	+$200
% Margin	~55%	~60%	+60%	+65%
					Actions in fiscal 2025 foundational to accelerated growth in
					fiscal 2026 and beyond
Adjusted EBITDA*	+$40	~$60	~$100
	• Centered on Unity and SaaS Margins
					• Best-in-class net $ retention evident in the numbers
% Margin	~15%	~20%	~30%	~30%
Rule of 40 performance	~20%	~25%	>40%	>50%	"Meet and Beat" Rule of 40 benchmark in 2025 with:
Net Debt ($'M)**	$110M	$110M	$80M	~1X EBITDA	• Momentum in top line revenue growth vectors
•	Highly scalable business model
					•	Significant operating leverage

Notes:

• *: Adjusted EBITDA pro forma for full year benefit from cost synergies realized in year10
• **: Pro forma for working capital movements