Vantor Mobility Group — Appendices

Supporting appendices and reference schedules underpinning the Vantor Mobility Group business plan and financial model.

Vantor Mobility Group Business PlanSection 15 › Appendices

Section 15 · Business Plan

Appendices

Supporting appendices and reference schedules underpinning the Vantor Mobility Group business plan and financial model.

15.1 Appendix A — Glossary of Terms & Abbreviations

Term Definition
AfCFTA African Continental Free Trade Area
AFDB African Development Bank
B-BBEE Broad-Based Black Economic Empowerment (South Africa)
C-BRTA Cross-Border Road Transport Agency (South Africa)
CAGR Compound Annual Growth Rate
DFI Development Finance Institution
EBITDA Earnings before interest, taxes, depreciation and amortisation
FCF Free Cash Flow
FX Foreign Exchange
IFC International Finance Corporation
IFRS International Financial Reporting Standards
ISSB International Sustainability Standards Board
JIBAR Johannesburg Interbank Average Rate
JSE Johannesburg Stock Exchange
KPI Key Performance Indicator
MIGA Multilateral Investment Guarantee Agency (World Bank Group)
NPS Net Promoter Score
OD pair Origin–Destination pair (a single corridor segment)
OEM Original Equipment Manufacturer
pax-km Passenger-kilometre — one passenger transported one kilometre
POPIA Protection of Personal Information Act (South Africa)
PP&E Property, Plant and Equipment
ROIC Return on Invested Capital
SADC Southern African Development Community
SATAWU South African Transport and Allied Workers Union
SOC Security Operations Centre
TCFD Task Force on Climate-related Financial Disclosures
VMG Vantor Mobility Group — the Company described in this Business Plan
WACC Weighted Average Cost of Capital
ZAR South African Rand (currency)

Table 32. Glossary of key terms and abbreviations used in this
Business Plan.

15.2 Appendix B — Key Sources & References

The market data and industry context used in this Business Plan are
drawn from a combination of public-domain market research, peer-reviewed
sources, official statistical agencies, and primary research conducted
by VMG management. Key sources include:

  • TechSci Research — Africa Bus Market 2030 Industry Forecast
    (2024).
  • 6Wresearch — South Africa Bus Market Outlook
    (2024-2030).
  • Grand View Research — South Africa Public Transport Market Report
    (2024).
  • Expert Market Research — Global Bus Market Report
    (2025–2035).
  • Market Data Forecast — Global and Regional Bus Market
    Analyses.
  • Statistics South Africa — Land Transport Survey, Quarterly
    Bulletin (latest editions).
  • United Nations Department of Economic and Social Affairs — World
    Population Prospects 2024.
  • World Bank — Africa Infrastructure Country Diagnostic.
  • African Development Bank — African Economic Outlook
    (annual).
  • Southern African Bus Operators Association (SABOA) — industry
    publications.
  • South African Petroleum Industry Association (SAPIA) — fuel-price
    data.
  • Cross-Border Road Transport Agency (C-BRTA) — quarterly
    statistical reports.
  • International Energy Agency — Transport Outlook (2024).
  • IFRS Foundation — IFRS S2 Climate-related Disclosures.
  • King IV Code on Corporate Governance for South Africa
    (2016).

15.3 Appendix C — Senior Leadership Profiles (Summary)

The senior leadership team comprises seasoned executives with
combined experience across passenger transport, technology,
infrastructure, and capital markets in Africa and internationally. Full
curricula vitae are available to qualifying investors on request.
Summary indicative profiles below:

  • Group Chief Executive Officer20+ years’
    experience including senior leadership roles at major mobility
    platforms; track record of scaling capital-intensive operations across
    multiple African markets; respected industry voice and Board member of
    multiple listed entities.
  • Group Chief Financial OfficerBig-4-trained
    chartered accountant; previous CFO of listed entities; capital-markets
    experience including IPO, bond issuance, and DFI structuring; deep
    familiarity with multi-jurisdictional consolidation under IFRS.
  • Group Chief Operating Officer30+ years in
    passenger transport operations including coach, rail and aviation; led
    safety transformations at international operators; deep network across
    SADC regulators and union counterparts.
  • Group Chief Technology OfficerSenior technology
    leader from leading e-commerce / fintech / mobility platforms; track
    record of building consumer-facing platforms at scale; deep experience
    in dynamic pricing, mobile applications, and data engineering.
  • Group Chief Commercial OfficerMarketing, brand
    and revenue-management leader from leading consumer brands; previous
    P&L responsibility at scale; established Pan-African distribution
    and partnership relationships.
  • Group General CounselSenior commercial-law
    background with deep experience in transport, infrastructure, and
    multi-jurisdictional regulatory navigation; admitted in multiple SADC
    jurisdictions.

15.4 Appendix D — Regulatory Permit Checklist

VMG will obtain and maintain the following principal regulatory
authorisations across its operating jurisdictions (illustrative,
non-exhaustive):

Permit / Authorisation Authority Renewal Cycle
Operating licence — domestic intercity passenger DoT / NLTC (SA); equivalents in other markets 5 years
Cross-border road transport permit C-BRTA (SA) and bilateral equivalents Annual
Vehicle roadworthiness certification (per coach) Provincial traffic authorities Annual
Driver public-passenger endorsement (per driver) RTMC (SA) and equivalents Annual
Terminal land-use & building consent Local municipalities Once-off + reviews
Tax registration & clearance SARS and equivalents Annual clearance
Competition-merger approval (M&A) Competition Commission and equivalents Event-driven
B-BBEE rating verification SANAS-accredited verification agencies Annual
POPIA / data-protection registrations Information Regulator (SA) and equivalents Once-off + updates
FSP / payments registrations (loyalty wallet) FSCA, SARB and equivalents Annual

Table 33. Indicative regulatory permit checklist by
jurisdiction.

15.5 Appendix E — Important Notice

This Business Plan has been prepared by the management of Vantor
Mobility Group (‘the Company’ or ‘VMG’) to provide an overview of the
Company’s strategy, operations, and financial outlook for the purpose of
capital-raising discussions with qualified institutional investors and
lenders. It does not constitute an offer to sell or the solicitation of
an offer to buy any securities. All forward-looking statements and
projections contained herein represent management’s current expectations
and are subject to risks, uncertainties, and assumptions, many of which
are outside the Company’s control. Actual results may differ materially.
The Company makes no warranty regarding the accuracy of third-party
data; recipients are advised to conduct their own due diligence.
Distribution of this document is restricted; reproduction or
transmission without the prior written consent of the Company is
prohibited. By accepting this document, the recipient agrees to be bound
by these restrictions.

END OF BUSINESS PLAN

Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Vantor Mobility Group (Pty) Ltd.