PIWORLD Investor Podcasts

This video can be seen at: https://www.piworld.co.uk/2018/09/19/judges-scientific-jdg-h1-results-september-2018/   Judges Scientific CEO David Cicurel and CFO Brad Ormsby present the Group’s interim results for the 6 months ending 30th June 2018. David Cicurel, CEO Introduction to JDG – 00:18 The Judges group – 02:13 Results key messages – 03:45 Brad Ormsby, CFO Financial highlights – 05:23 Performance – 07:26 Order intake – 08:29 Revenue summary – 10:22 Profit bridge – 11:29 Balance sheet & cash flow- 12:25 ROTIC – 13:27 Diversification – 14:45 Financial history – 15:20 David Cicurel, CEO Growth strategy – 16:45 Acquisitions – 26:51 Outlook – 30:06 Investment case – 32:43 Q&A – 34:29

This video can be seen at: https://www.piworld.co.uk/2018/09/18/keywords-studios-kws-h1-results-september-2018/   Andrew Day, CEO, & David Broderick, CFO, present Keywords Studios (KWS) H1 results to 30th June 18, at the analyst presentation on 18th September 2018.   Andrew Day, CEO   Achievements in 2018 so far – 00:25 The video games market – 06:28 KWS – video games lifecycle – 08:50 KWS revenue by services – 09:41 KWS geographic spread – 11:00 KWS clients – 12:03 KWS diversified growth – 13:22   David Broderick, CFO   Financial overview – 14:33 H2 guidance – 22:01   Andrew Day, CEO   Delivering on strategy – 23:14 Performance by service line – 25:25 KWS growth opportunities – 30:19 Acquisition strategy – 36:48 Managing growth – 38:21 Outlook – 40:22 Investment summary – 42:55   Q&A – 43:30

This video can be seen here: https://www.piworld.co.uk/2018/09/14/trakm8-trak-strategy-presentation-september-2018/   Trakm8 Strategy presentation September 2018 (given at the AGM)   John Watkins, Executive Chairman Introduction, mission statement & values – 00:17 John Furber, Group Finance Director Operational highlights of the year - 01:23 Financial highlights - 06:22 Transition to pure Telematics Provider - 10:56 Growth dynamics - 12:22 Recurring revenues - 14:37 Adj PTP tax bridge - 16:20 Cash generated from operations & debt bridge - 21:20 TRAK strategy for growth - 23:40 Mark Watkins, Chief Operating Officer Operational Efficiency Strategy – 24:48 World Leading Technology Strategy – 28:30 The solutions: i. Trakm8 Prime – 30:08 ii. Data enrichment with video – incl. video demo – 30:56 iii. Insight - 30:05 John Watkins, Executive Chairman Increasing market share strategy – 39:10 Ambition to have 1m connections by 2020 and capacity – 39:47 Why does 1m connections matter? (Margins, R&D & marketing spend, cash & working capital) - 42:07 Big ambition – what we propose to do – 44:44 Summary – 48:29 Q&A – 49:09 In context of 1m connection targets could you talk about your market share & competitive landscape? – 49:10 Would you put your broker forecasts on your website? – 50:19 Will R&D tax credits change with your new business strategy? – 51:38 Are there any further payments due, related to previous acquisitions? - 52:50 Why do you have to manufacture? - 53:09 How much work have you done on the needs eg. translation, to develop International sales? – 55:14 What’s the plan for electric vehicles and driverless cars? - 56:41 Do you buy in your cameras from eg. Seeing Machines? – 58:13 How many competitors like Seeing Machines are in your market? – 58:43

Full video can be viewed at: https://www.piworld.co.uk/2018/09/12/the-property-franchise-group-tpfg-interim-results-september-2018/   The Property Franchise Group's CEO Ian Wilson talks about the Group's interim results for the period ending 30th June 2018   Introduction to The Property Franchise Group - 00:21 Results highlights - 01:24 The Market - 03:10 EweMove - 07:00 Outlook - 08:20

Full video can be viewed at: https://www.piworld.co.uk/2018/09/12/1pm-opm-full-year-results-september-2018/ 1pm CEO Ian Smith and CFO James Roberts talk about the Group’s full year results to the 31st May 2018. Introduction – 00:21 Trading conditions – 01:40 Financial highlights – 03:13 Strategy – 05:50 New business – 06:57 Continuing performance – 09:38 Continued expansion – 11:21 Outlook – 12:19

Full video can be viewed at: https://www.piworld.co.uk/2018/09/10/downing-strategic-micro-cap-investment-trust-agm-meet-the-managers-event-july-2018/   Presented by Judith Mackenzie, Head of Public Equity at Downing LLP, with Nick Hawthorn and James Lynch. Hugh Aldous, Chairman, opening remarks – 00:17 Judith MacKenzie, Lead Fund Manager, introduction – 00:32 Annual review – 03:18 The micro-cap market – 04:43 The team – 05:34 Portfolio review – 06:10 Real Good Food – 07:17 Gama Aviation (presented by Nick Hawthorn) – 16:34 AdEPT (presented by James Lynch) – 23:38 Hargreaves Services – 31:57 Q&A – 35:00 Synetics – 40:30 Summary – 42:28 Hugh Aldous, Chairman, closing remarks – 44:37

This video can be viewed at: https://www.piworld.co.uk/2018/09/06/beeks-financial-cloud-bks-full-year-results-presentation-september-2018/   Beeks Financial Cloud (BKS) results presentation for the full year ending 30th June 2018 by CEO Gordon McArthur and CFO Simon Goulding. Gordon MacArthur, CEO Introduction - 00:17 What Beeks Financial Cloud does – 01:05 Global footprint - 03:00 Simon Goulding, CFO Financial highlights - 04:50 Income statement - 07:38 Balance sheet - 08:17 Cash flow- 09:13 Capital expenditure - 10:25 Gross profit - 12:31 Sales – 14:15 Free cashflow - 16:55 Growth strategy - 17:55 Market opportunity - 23:40 Strategic priorities - 31:19 Summary & outlook - 41:57

This video can be viewed at: https://www.piworld.co.uk/2018/08/31/eservglobal-esg-interview-with-executive-chairman-john-conoley/ piworld investor interview with John Conoley, Executive Chairman, eServGlobal eServGlobal has two parts to the business, can you explain what each does? - 00:22 Can you tell me more about HomeSend? – 02:18 Did HomeSend come out of ESG and mobile money transfer within ESG? – 03:05 What’s the size of the global money transfer market? – 04:01 What does HomeSend offer that legacy systems don’t offer? - 05:34 Is it the technology that’s different from legacy systems? – 07:16 Can you tell us more about the core business? - 08:20 When do you see it (the core business) returning to breakeven? – 09:20 Is the 50% recurring revenue what we should continue to expect? - 10:19 How did you (John) originally get involved (with ESG)? – 11:07 Which regions are the predominant regions (for ESG)? - 12:23 Are there risks in these regions? - 13:42 What are your aspirations for ESG in the short and medium term? - 14:20 How long does it take for a signed up back to start making transactions? - 15:49 For HomeSend is it labour intensive to on-board banks, or just switching a switch? – 17:34 On the core business, you mentioned corporate activity, can you say more? – 18:00 What should investors look forward to for the rest of the year? – 19:20 How will we know we’re really getting traction with the banks? – 20:00

This video can be viewed at: https://www.piworld.co.uk/2018/08/22/empresaria-group-emr-h1-results-august-2018/   Empresaria Group CEO Spencer Wreford and Group Finance Director Tim Anderson present highlights of  the Group's interim results for the 6 months ended 30th June 2018. Spencer Wreford (CEO) Overview - 00:21 Tim Anderson (Group FD) Financial highlights - 05:35 Spencer Wreford (CEO) Outlook - 07:39

This video can be viewed at: https://www.piworld.co.uk/2018/08/20/judith-mackenzie-meets-adepts-ceo-ian-fishwick-july-2018/   Judith Mackenzie, Head of Public Equity at Downing LLP visits AdEPT (ADT) at their head offices in Tunbridge Wells and interviews CEO Ian Fishwick. Judith Intro – 00:27 Interview with Ian Fishwick, CEO AdEPT - 01:21 How did AdEPT begin? - 01:32 Acquisition criteria - 02:54 Chronology of acquisitions - 04:34 Acquisition conversion rate - 08:08 Number of deals in the coming year? - 09:44 Bigger deals? - 10:05 Availability of acquisitions? - 11:00 Any tricky acquisitions? - 11:40 Managing earnouts - 12:55 Tour of the office - 14:11 Driving organic growth - 16:02 Customer base - 17:07 Key KPI’s - 20:26 Capex - 22:00 The end game - 22:43 Director sales - 24:25 Liquidity & institutional interest - 25:43 Discount to peers - 26:17