Vitalis Group SA Business Plan › Section 14 › Implementation Roadmap & Gantt Plan

14.1 Five-Phase Implementation Plan

The Vitalis implementation plan is organised into five sequential and
partially-overlapping phases, executed over 60 months from financial
close. The phases are: (1) Foundation; (2) Platform Build; (3) Market
Launch; (4) Scale and Optimise; (5) Profitability and Exit
Readiness.

Figure 14.1

14.2 Phase 1: Foundation (Months 0 – 6)

Foundation activities establish the legal, regulatory and people
infrastructure of the Company.

• Company registration; capital injection; opening balance sheet
  established
• Pre-application engagement with PA and FSCA; formal licence
  applications filed by M+3
• Reinsurance treaties signed with three Tier-1 reinsurers (quota
  share, catastrophe)
• Hiring of CEO, ExCo and senior actuarial / underwriting team (40
  hires)
• Premises secured in Sandton, Cape Town and Durban
• Selection of core technology vendors and signed master service
  agreements

14.3 Phase 2: Platform Build (Months 4 – 13)

Platform build operates in parallel with the closing months of Phase
1 to compress the time to launch. Build activities are split across nine
engineering streams operating in agile cadence.

• Policy administration and claims system configured and
  customised
• Underwriting engine and pricing models developed; actuarial
  review and calibration
• Wellness platform built (proprietary, integrating wearable
  APIs)
• Mobile application and member portal developed and
  tested
• Broker portal and embedded-insurance API gateway
  delivered
• Integration with payments, KYC, credit-bureau and reinsurance
  partners
• Independent third-party security and conduct testing

14.4 Phase 3: Market Launch (Months 12 – 20)

Phase 3 takes the Company from regulatory approval through to a
full-scale national launch.

• Soft pilot launch in Gauteng (M12 – M14) with internal and
  limited-friends-and-family customers
• Full Gauteng launch (M15); Western Cape and KZN added
  M17–M18
• Broker network activation: 80 Platinum / Gold brokers contracted
  in Year 1
• National rollout across all nine provinces (M19–M20)
• Banking proposition launched (M18) under Tier 2 licence

14.5 Phase 4: Scale and Optimise (Months 20 – 36)

The Company accelerates customer acquisition and product cross-sell
while maintaining underwriting discipline.

• Cross-sell engine activated; in-app product recommendations
  live
• Investment platform launched (M24); HNW tied-advisory force built
  (M28)
• Regional expansion: first SADC market (Botswana) entered M30 via
  JV
• EBITDA breakeven achieved by M32 (base case)

14.6 Phase 5: Profitability and Exit Readiness (Months 32 – 60)

The Company achieves sustainable profitability and prepares for
liquidity event.

• Sustained EBITDA-positive operations; cumulative EBITDA above
  R1.2 Bn by M60
• Series B capital raise (M36): R600M to fund SADC and product
  acceleration
• Internal model development for SAM (M40 onwards)
• JSE IPO preparation work commences M48; bookrunner appointment
  M54
• IPO targeted Year 7 (M72–M84) — see Section 22

14.7 Critical Path and Dependencies

The critical path is dominated by regulatory licensing. A 90-day
delay in primary licence issuance translates to a 120-day delay in
EBITDA breakeven, with a financial-impact equivalent of ~R85M additional
cumulative cash burn. Mitigating actions include early pre-application
engagement, fallback structures using fronted reinsurance, and a
Lloyds-cell launch option for a subset of products.

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 Vitalis Group South Africa (Pty) Ltd.