Mad Paws : MPA Investor Presentation

February 23, 2022

onlyMPA Extends Its Scale As The #1 Tech Enabled Pet Marketplace

Acquisition of Pet Chemist usePrivate Placement & SPP ersonal1H FY22 Preliminary result update

Disclaimer

This presentation (Presentation) has been prepared by Mad Paws Holdings Limited ACN 636 243 180 (Mad Paws). This Presentation contains summary information about the current activities of Mad Paws as at the date of this Presentation or such earlier date as is specified and has been prepared in relation to: Mad Paws' acquisition of 100% of the share capital in Animal Magnetism Pty Ltd, a company incorporated in New South Wales, and its subsidiaries (Pet Chemist) (the Acquisition); and a proposed capital raising to be undertaken in connection with the Acquisition (Capital Raise), comprising an institutional placement of new Mad Paws ordinary shares (New Shares) to certain 'sophisticated' and 'professional' investors (as defined in the Corporations Act, 2001 (Cth)) (Corporations Act) (Placement). Mad Paws also intends to undertake a share purchase plan to eligible shareholders in Australia and New Zealand (SPP). The Placement will be conducted under section 708 of the Corporations Act and will be made available to certain persons whom a prospectus is not required to be given under Chapter 6D of the Corporations Act. The SPP will only be made available to eligible shareholders and will be conducted in accordance with ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547.

This Presentation is for information purposes only. Any person who receives this Presentation (Recipient) is not entitled to, and by receiving this presentation undertakes not to, rely on this Presentation (whether as to a matter of fact, forecast, opinion or belief) for any purpose whatsoever. This Presentation is of a general nature and does not purport to be complete or contain all information in relation to Mad Paws that an investor may require to assess the business, financial performance and operations of Mad Paws or should consider when making an investment decision, nor does it purport to address any or all issues which are or may be material to or of interest to the Recipient in relation to Mad Paws. An investment in Mad Paws is subject to known and unknown risks. The Recipient must conduct its own independent analysis of Mad Paws and the information in this Presentation and make its own independent decisions about Mad Paws and its business, prospects, financial position and performance before making any decision that relates, directly or indirectly, to Mad Paws. The information contained in this Presentation does not take into account the investment objectives, financial situation or particular needs of any recipient and is not financial product advice. Before making an investment decision, recipients of this Presentation should consider their own needs and situation and, if necessary, seek independent, professional advice.

onlyf applicable jurisdictions and include, but are not limited to, indications of, or guidance or outlook on, future earnings or financial position or performance of Mad Paws. Such Estimates and Projections are provided as a general guide only and are not guarantees or predictions of future performance. The forward-looking statements are based on information available to Mad Paws as at the date of this Presentation. The assumptions may or may not prove to be correct and there can be no assurance that actual outcomes will not differ materially from the Estimates and Projections. Without limiting the above,

This Presentation is not a disclosure document, nor does it contain all the information which would be required in a disclosure document or a prospectus prepared in accordance with the requirements of the Corporations Act, and the Recipient should not rely on this Presentation in connection with a proposed investment in Mad Paws. It should be read in conjunction with Mad Paws' other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au. This presentation is being provided to you on the basis that, and you represent and warrant for the benefit of Mad Paws that, you are a "professional investor" or "sophisticated investor" (within the meaning of section 708(11) and section 708(8) respectively of the Corporations Act and are also in each case, a "wholesale client" (within the meaning of section 761A of the Corporations Act). If you are not such a person, you are not entitled to view or attend this Presentation and you must notify Mad Paws immediately and promptly return this presentation to Mad Paws and destroy all copies, whether held in electronic or printed form or otherwise, without retaining any copies.

This Presentation does not constitute legal, accounting, financial, tax, regulatory, investment or other specialist advice or opinion nor is it a recommendation to participate in the Capital Raise to acquire shares in Mad Paws and does not and will not form any part of any contract for the acquisition of

ew shares in Mad Paws. None of the information set out in this Presentation including any market or industry data prepared or generated by third parties, has been independently verified. None of Mad Paws, its shareholders, subsidiaries, associates, directors, officers, employees, agents, independent

co tractors and advisors (collectively the Mad Paws Parties) makes or gives any representation, warranty or guarantee, whether express or implied, in relation to the information contained in this Presentation including its completeness, accuracy, reasonableness, currency or reliability or the process by which it was prepared. In particular, none of Mad Paws' advisers have authorised, permitted or caused the issue or lodgment, submission, dispatch or provision of the information in this Presentation and there is no statement in this Presentation which is based on any statement made by any of them or by any of their affiliates, officers, directors, employees or agents. Past performance information in this Presentation is given for illustrative purposes only and should not be relied upon, and is not, an indication of future performance. This Presentation contains "forward looking statements" including estimates,

pr jecti ns and other forward-looking information ("Estimates and Projections") which involve subjective judgements, and are based on assumptions about future events that are subject to significant uncertainties and contingencies, many of which are outside the control of Mad Paws. Forward looking statements can generally be identified by the use of forward-looking words such as "expect" "anticipate", "likely", "intend", "should", "could", "may", "predict", "plan", "propose", "will", "believe", "forecast", "estimate", "target", "outlook", "guidance" and other similar expressions within the meaning of securities laws

no representation, warranty or guarantee, whether express or implied, is made or given by the Mad Paws in relation to any Estimates and Projections, the accuracy, reliability or reasonableness of the assumptions on which an Estimates and Projections are based, or the process of formulating any Estimates and Projections, including that any Estimates and Projections contained in this presentation will be achieved. Actual future results may vary significantly from the Estimates and Projections.

Exc	pt as required by law or regulation (including the ASX Listing Rules), none of the Mad Paws Parties accept any responsibility to update, supplement or correct this Presentation whether as a result of new information, future events, results or otherwise. To the fullest extent permitted by law, Mad Paws
xpr	ssly disclaim any and all liability (whether direct, indirect or consequential and whether arising from negligence or otherwise) for, or based on, or relating to any information contained in this Presentation or for any errors in or omissions from this Presentation and no liability (whether under statute, in
use
contract, tort or for negligence or otherwise) is accepted by Mad Paws for any loss or damage (whether foreseeable or not) that may arise by reason of, or in connection with, the inadequacy, incompleteness or inaccuracy in the information contained in this Presentation or by any purported reliance on it by
virtue of the Recipient's participation in the Capital Raise. Any recipient of this Presentation should independently satisfy themselves as to the accuracy of all information contained herein.

Non-IFRS information: This Presentation contains certain non-IFRS financial information. Mad Paws believe the Presentation of certain non-IFRS financial information is useful for users of this Presentation as they reflect the underlying financial performance of the business, however notwithstanding this, inve tors are cautioned not to place undue reliance on any non IFRS financial Information included in this Presentation.

Financial information: This Presentation contains certain financial information. The financial information has been presented in an abbreviated form insofar as it does not include all the presentation and disclosures, statements or comparative information as required by the Australian Accounting Standards, the International Financial Reporting Standards and other mandatory professional reporting requirements applicable to financial reports prepared in accordance with the Corporations Act. Financial information for FY18, FY19, FY20 and FY21 has been audited. All historical financial information prior to FY18 is

na dited and based on management accounts. All financial information provided in relation to Pet Chemist is unaudited, and based on management information received during due diligence. All dollar values are in Australian dollars ("A$", "AUD") unless indicated otherwise.

Not an offer: This Presentation is for information purposes only and is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law or any other law (and will not be lodged with ASIC or any other regulator and is not approved by or registered with any regulator). The Presentation is not and should not be considered an offer or an invitation to acquire shares in Mad Paws or any other financial products. This Presentation may not be released or distributed in the United States. This Presentation does not constitute an offer to sell, or a solicitation of an offer to

buy, securities in the United States or in any other jurisdiction in which such an offer would be illegal. Shares in Mad Paws have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or the securities laws of any state or other jurisdiction of the United ersonalStates. Accordingly, shares in Mad Paws may not be offered or sold, directly or indirectly, in the United States unless such new shares have been registered under the U.S. Securities Act, or are offered and sold in a transaction exempt from, or not subject to, the registration requirements of the U.S. Securities

Act nd pplicable U.S. state securities laws. The distribution of this Presentation in other jurisdictions outside Australia may also be restricted by law and any such restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

An investment in Shares is subject to investment and other known and unknown risks, some of which are beyond the control of Mad Paws including possible loss of income and principal invested Mad Paws does not guarantee any particular rate of return or the performance of Mad Paws or Pet Chemist, nor does it gu rantee the repayment of capital from Mad Paws or any particular tax treatment. Certain information in this Presentation has been sourced from Pet Chemist, its representatives and associates. As described further in the risk factors outlined in this Presentation, while steps have been taken to review that information, no representation or warranty, expressed or implied, is made as to its fairness, accuracy, correctness, completeness or adequacy. By accepting this Presentation, you agree to abide by the terms and conditions of this notice.

Stateme ts made in this Presentation are made only as at the date of this Presentation unless otherwise stated. The information in this Presentation remains subject to change without notice.

This Presentation is confidential and not for further distribution. It may not be reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of Mad Paws. It is provided by Mad Paws on the basis that, by accepting this Presentation, persons to whom this Presentation is given agree to keep the information private and confidential, not copy, use, publish, record, disclose, disseminate or reproduce the information in this Presentation to any party, in whole or in party, without the prior written consent of Mad Paws (which may be withheld in its abs lute discretion).

2

ersonal use only

1H FY22 Preliminary Results Update

3

ersonal use only

1H FY22 Highlights

Bookings/transactions	GMV¹ of	Operating Revenue2
88k	$9.0 million	$3.3 million
+104% to 1H FY21	+81% to H1 FY21	+231% to 1H FY21

New customer acquisition	Marketplace revenue2	$8.8 million cash on hand,
$1.3 million	to fund FY22 growth
22K +60% to 1H FY21
+49% to 1H FY21	strategy

1GMV is a non-IFRS measure, it represents the total value of transactions processed by Mad Paws, on a cash basis, before deducting pet service provider payments, cancellations and refunds, chargebacks, discount's and GST

2Results are preliminary and unaudited

MPA Standalone

1H FY22 Profit & Loss, preliminary unaudited

		Change
A$m	1H FY221 1H FY21	$m	%

only	9.0	5.0	4.0	81%
	GMV2
	Operating revenue
	Marketplace	1.3	0.9	0.4	49%
	Subscription	1.5	0.1	1.4	1,257%
	E-commerce	0.5	-	0.5	0%
	Total Operating Revenue	3.3	1.0	2.3	231%
use	1.5	0.1	(1.4)	(1,624%)
	Cost of sales
	Gross Margin	1.8	0.9	0.9	96%
	Gross Margin %	54%	91%
	Employee expenses	2.9	1.1	(1.9)	(179%)
	Marketing expenses	1.7	0.8	(0.9)	(113%)
ersonal	1.4	0.5	(0.9)	(165%)
	Other operating expenses
	Total operating expenses	6.0	2.4	(3.6)	(154%)
	Operational EBITDA	(4.2)	(1.4)	(2.8)	191%
	N n-operating,non-recurring income and costs	0.6	4.9	4.3	87%
	Net loss after tax	(4.8)	(6.4)	(1.5)	24%

Notes:

1 1H FY22 information for Mad Paws is preliminary unaudited. Audited results will be released on 24 February 2022

2 GMV is a non-IFRS measure, it represents the total value of transactions processed by Mad Paws, on a cash basis, before d ducting pet service provider payments, cancellations and refunds, chargebacks, discount's and GS

• Operating Revenue grew by 231% in 1H FY22 to $3.3 million vs 1H FY21
• • Marketplace revenue increased 49% to $1.3 million driven by improvement in marketplace bookings (+25%) as domestic borders opened in Q2 FY22
  • Subscription revenues grew to $1.5 million in 1H FY22 from $0.1 million in 1H FY21. This is as a result of our subscriber growth in our Pet food business Dinner Bowl as well as the effect of the Waggly acquisition completed at the end of FY21
  • Ecommerce revenue delivered $0.5 million in 1H FY22 and represents non-subscription toys and treats sales from Waggly and the recently acquired premium Pet bed business, Sash, acquired in November 21
• Gross margin increased by 96% in 1H FY22 vs pcp to $1.8 million. This was due to the greater contribution of the new subscription and ecommerce verticals since 1H FY21
• Operational EBITDA loss for 1H FY22 was $4.2 million, an increase of $2.7 million from 1H FY21. The increase was due to:
• • Employee expenses were $1.9 million higher in 1H FY22 driven by the integration of the Waggly team and build out of the product, tech and marketing teams as well as senior management to execute on the significant opportunity in the pet market
  • Continued investment in marketing given the strong return on investment with marketing increasing $0.9m to $1.7m for 1H FY22, driven by marketing costs for Waggly since the acquisition and costs associated with the expansion of our Pet food subscription vertical
  • Other operating expenses growth largely relates to public company costs

5