Reinvigorate public transport is…

rebuilding confidence in the public transport system by offering high-quality operations that passengers want to use

• We have consistently demonstrated our ability to reverse declining passenger trends when we have taken over troubled contracts
• We grow use of public transport by building partnerships with authorities that want sustainable solutions to congestion and pollution
• We enhance social mobility
  in the communities we serve
• Strong pipeline of opportunities worth c.£400m of revenue

Case study

Casablanca and the West Midlands

Multi-modal expansion is…

expanding the breadth of our product offering, based on global know-how and local relationships

• There are opportunities to “land and expand” as we enter new cities
• We have already implemented this in cities such as Birmingham, Chicago, Coventry, Madrid, Marrakech and New York
• We will build more modal capability and city hubs from existing locations
• Strong pipeline of opportunities worth c.£300m of revenue

Case studies

ALSA: Madrid

Operational transformation is…

driving growth by delivering transport solutions more efficiently than our competitors through processes enabled by technology

• Operations playbook - the NX way: our way of doing things
• Globally consistent processes: ability to rapidly implement and scale
• Opportunities to drive change:
  • Implement operational blueprint at scale
  • Turn round under invested operations
  • Modernise
• Strong pipeline of opportunities worth c.£200m of revenue

Case study

UK & Germany: NEAT

• Rapid improvement in service through digitalised processes:
  • Data driven routing driving efficiency– Real-time performance information,
    journey tracking and logging
  • Safety technology reduced costs of claims
• Improved quality of service and contract profitability and won additional business
  in Birmingham and nearby councils
• £1.1bn Special Education Needs market growing at 8% CAGR
  • NEAT already the 2nd largest player

Fill the Transit Gap is…

helping businesses and cities transition from the private car in places that are not well served by existing public mass transit

• $2 billion US corporate shuttle market growing at 5% CAGR
• WeDriveU serves many of the largest businesses on the West Coast
  and is expanding across the US
• We are seeing increasing demand globally for B2B services
• Opportunities to expand throughout our existing footprint
• Strong pipeline of opportunities worth c.£300m of revenue

Case study

North America:  Shuttle

• Acquired WeDriveU in 2019
• Transporting employees and students
  to large and growing campuses where public transport provision is poor
  and environmental restrictions
  limit private car use
• Helping successful corporations attract
  the best people and improve employee
  productivity

Consolidate and compound is…

the consolidation of fragmented markets to bring the benefits of scale and consistent service

• US School Bus: acquire ‘bolt ons’ at attractive multiples,
  drive c.15% returns
• Spain: consolidate regional and urban services from initial acquisition point
• UK: demand aggregation of fragmented private hire and accessible transport markets
• Selective, larger acquisitions to step-change / accelerate capabilities
• Strong pipeline of opportunities worth c.£300m of revenue

Case study

UK & Germany: NETS

• Consolidating small regional businesses into NETS – our
  Transport Solutions business
• Leveraging the National Express brand and reputation for customer service and safety to drive consolidation in a large
  fragmented market
• Shared infrastructure driving efficiencies and providing
  competitive advantage