EX-99.2 7 ef20023784_ex99-2.htm EXHIBIT 99.2

Exhibit 99.2
PAR Extends Vision March 2024

Forward-Looking Statements. This presentation contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature, but rather are predictive of our future operations, financial condition, financial results, business strategies and prospects. Forward-looking statements are generally identified by words such as “anticipate”, “believe,” “belief,” “continue,” “could,” “expect,” “estimate,” “intend,” “may,” “opportunity,” “plan,” “should,” “will,” “would,” “will likely result,” and similar expressions. Forward-looking statements are based on management’s current expectations and assumptions that are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those expressed in or implied by forward-looking statements, including business uncertainties relating to acquisitions, divestitures, and capital markets transactions, including the timing of such transactions, our ability to recognize future annual recurring revenues, adjusted EBITDA, cash flow, margins and achieve other synergies, and the costs, timing and complexity of integration. Factors, risks, trends and uncertainties that could cause or contribute to such differences include those discussed in our Annual Report on Form 10-K for the year ended December 31, 2023 and our other filings with the SEC. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law. Industry and Market Data. Market, industry, and other data included in this presentation are from or based on our own internal good faith estimates and research, and on publicly available publications, research, surveys and studies conducted by third parties, which we believe are reliable, but have not independently verified. Similarly, while we believe our internal estimates and research are reliable, we have not independently verified our internal estimates or research. While we are not aware of any misstatements regarding any market, industry, or other data used by us or expressed in this presentation, such information, because it has not been verified or, by its nature - market surveys, estimates, projections or similar data, are inherently subject to uncertainties, and actual results may differ materially from the assumptions and circumstances reflected in this information. Trademarks. “PAR®,” “Brink POS®,” “Punchh®,” “MENUTM,” “Data Central®,” "PAR® Pay”, “PAR® Payment Services” and other trademarks identifying our products and services appearing in this presentation belong to us. This presentation may also contain trade names and trademarks of other companies. Our use of such other companies’ trade names or trademarks is not intended to imply any endorsement or sponsorship by these companies of us or our products or services. Key Performance Indicators and Non-GAAP Financial Measures. We monitor certain key performance indicators and non-GAAP financial measures in the evaluation and management of our business; certain key performance indicators and non-GAAP financial measures are provided in this presentation as we believe they are useful in facilitating period-to-period comparisons of our business performance. Key performance indicators and non-GAAP financial measures do not reflect and should be viewed independently of our financial performance determined in accordance with GAAP. Key performance indicators and non-GAAP financial measures are not forecasts or indicators of future or expected results and should not have undue reliance placed upon them by investors. Where non-GAAP financial measures are included in this presentation, the most directly comparable GAAP financial measures and a detailed reconciliation between GAAP and non-GAAP financial measures is included in the Appendix to this presentation. Unless otherwise indicated, financial and operating data included in this presentation is as of: December 31, 2023 for PAR Technology Corporation; October 31, 2023 for Stuzo Holdings, LLC; and, September 30, 2023 for TASK Group.

We are Announcing Two Acquisitions That Extend Our Vision Each Opportunity Represents a Unique Opportunity to Own a High-Quality, Profitable and Sticky Business with Potential for Significant Value Creation Through Executing Our Playbook

Our Vision To become the largest enterprise foodservice technology company in the world by 2030

2018 Tech Stack Point of Sale Inventory Management Payment Terminal 2024 Tech Stack POS Loyalty Inventory Mgmt. Payment Terminal Store Ops Management Data Warehouse Digital Ordering 3rd Party Delivery Kiosk Mobile App Gift Cards Website BI CDP Engagement There’s Been Exponential Growth in Foodservice Technology… …But Brands are Suffering Under Tech Complexity Source: Nation Restaurant News 2023 Market Leader Report Technology Stack Challenge What are the biggest challenges your operation faces in building its technology stack?

We are Building Unified Commerce BRANDS EXPERIENCE CUSTOMER EXPERIENCE OPERATOR EXPERIENCE Reporting Payments Online Ordering Operations POS Food & Labor Loyalty Offers & Engagement

Travel & Leisure (Hotel & Travel) Emerging segment within Travel & Leisure, food sales becoming more and more share of Travel & Leisure industry revenue share Restaurant (QSR & FSR) Our bread-and-butter Our bread-and-butter Our current goal in the short-term is to win North America food tech, international to follow Commercial (Business & Venues) Large footprint venues with major share of revenue in food and beverages Retail (C-store & Groceries) Colliding with restaurants' consumers now spending more of their wallet share for food at Grocery & C-store The Opportunity for Global Foodservice is Huge and these Transactions Expand Our Vision! We are an industry leader in North America. Adding TASK and Stuzo offerings to PAR portfolio expands our visions to Global Brands, Commercial Venues & Retail.

We acquire Best-in-Class products, with an enterprise focus… … and coupled it with deep vertical expertise Product leadership with unmatched performance and marquee customers High level of expertise in an industry with integration to ecosystem … then build Better-Together innovation & GTM Ample whitespace for innovation, cross-sell, and service improvement And We Have a Competitive Advantage Executing Our Playbook 1 2 3

Stuzo + TASK Increase Our Scale and Accelerate Our Path to Profitability Pro Forma PAR ARR1 ($M) High Organic & Inorganic Growth 80%+5-Year ARR CAGR Robust Retention 95%+Gross Retention Marquee Customers 50+of the Top-100 Brands Accelerated Path-to-Profit $20M+Additional 2023 PF Adjusted EBITDA2 + 219 2023 Pro-Forma PAR ARR includes Stuzo ARR (as of 10/31/23) and TASK ARR (as of 9/30/23). A key performance indicator, annual recurring revenue, or ARR, is the annualized revenue from PAR’s subscription services, which includes subscription fees for PAR’s SaaS solutions and related support, managed platform development services, and transaction-based fees for payment processing services. PAR generally calculates ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each month for the respective reporting period. Adjusted EBITDA represents EBITDA as adjusted to exclude impact of non-cash employee share schemes. EBITDA represents net loss before income taxes, interest expense, depreciation and amortization.

Our Focus is Consistently Delivering Durable, Capital Efficient Growth 2023 Pro Forma share count includes shares issued in connection with PAR’s Q1’24 $200M Securities Purchase Agreement, $20M stock purchase consideration for Stuzo out of approximately $190M in total purchase consideration, and projected shares to be issued as purchase consideration for Task based on PAR’s stock price of $42.24 as of 03/07/24 and 70% cash / 30% stock purchase consideration. 2023 Pro-Forma PAR ARR includes Stuzo ARR (as of 10/31/23) and TASK ARR (as of 9/30/23). A key performance indicator, annual recurring revenue, or ARR, is the annualized revenue from PAR’s subscription services, which includes subscription fees for PAR’s SaaS solutions and related support, managed platform development services, and transaction-based fees for payment processing services. PAR generally calculates ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each month for the respective reporting period. 1 55%+ ARR / share CAGR from 2018 - 2023 ARR matters to us because it’s a proxy for the future gross margin We believe underneath every dollar of ARR is a sustainable stream of future cash flow PAR ARR / Share1 ($)

PAR has Enormous Runway for Organic Growth and Adoption within Existing Customer Base Broad Existing Customer Base Strong Per Site Economics $10K+ARPU Using All PAR Products Whitespace for Product Adoption Untapped TAM Restaurant + C-store 80K+PAR Unique Locations 3M+ Total Unique Locations Globally 1.25 Average # of PAR Products Used

TASK:Taking Unified Commerce to the Global Foodservice Stage

Investment Summary TASK Overview Transaction Overview Strategic Rationale TASK is the pre-eminent transaction platform and has what PAR believes to be enterprise grade POS, digital ordering, and engagement solutions for international opportunities Serve global marquee customers, with $40M+ in ARR1 and $6M+ in Adjusted EBITDA2 PAR Technology (“PAR” or “Buyer”) to acquire 100% of the outstanding interest of TASK Group Holdings Ltd (ASX:TSK) (“Task”) Purchase Price of approximately USD 206M3, TASK shareholders can elect to be paid in Cash consideration: AUD 0.81 per share, and/or Share consideration: 0.015 shares of PAR Stock per share for each TASK share, up to 50% of a TASK shareholder's consideration Immediate add to our TAM and bring us to international markets Differentiated cloud based unified food tech platform Deepen talent bench with deep expertise in international markets Highly accretive valuation with attractive financial profile Timing & Approval The transaction is expected to close in the third quarter of 2024, subject to TASK shareholder approval, Australian court approval, certain regulatory approvals and other customary closing conditions. 2023 Pro-Forma PAR ARR includes Stuzo ARR (as of 10/31/23) and TASK ARR (as of 9/30/23). A key performance indicator, annual recurring revenue, or ARR, is the annualized revenue from PAR’s subscription services, which includes subscription fees for PAR’s SaaS solutions and related support, managed platform development services, and transaction-based fees for payment processing services. PAR generally calculates ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each month for the respective reporting period. Adjusted EBITDA represents EBITDA as adjusted to exclude impact of non-cash employee share schemes. EBITDA represents net loss before income taxes, interest expense, depreciation and amortization. Implied value of approximately $206 million assuming an all-cash transaction.

All in One Ecosystem for Global Enterprises Enterprise Management Kitchen System Inventory Online Ordering API Reporting Self-service Kiosk POS Loyalty Digital Signage Mobile Apps BI The power is in the TASK platform Own every customer transaction and touchpoint

Operating at Scale Globally with Numerous Marquee Brands 110+ Customers $40M+ ARR1 496M Transactional Users 70 Countries A key performance indicator, annual recurring revenue, or ARR, is the annualized revenue from PAR’s subscription services, which includes subscription fees for PAR’s SaaS solutions and related support, managed platform development services, and transaction-based fees for payment processing services. PAR generally calculates ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each month for the respective reporting period.

70 COUNTRIES Globally deployed across ~12,000 locations ~10.5B API CALLS On average per month ~8.5B Push notiﬁcations 287% Increase in loyalty gamiﬁcation usage 330M Transactional users 147M Actions being made and captured every day +95% YoY growth in loyalty customers ~4B ANNUAL Loyalty transactions Platform Purposefully Built for Enterprises

TASK Platform Extends PAR’s Unified Commerce Solution to Help Solve Global Foodservices Problems Unified Commerce Helping US Enterprises Transaction Platform Serving Global Brands Global Foodservice Tech Powerhouse

Unique combination of growth & profitability Demonstrable scale $40M+1H FY24 ARR1 High degree of visibility $6M+LTM 1H FY24 Adj. EBITDA2 80%+ 1H FY24 Recurring SaaS Revenue TASK’s Compelling Business Operations and Sustainable Financial Profile 2023 Pro-Forma PAR ARR includes Stuzo ARR (as of 10/31/23) and TASK ARR (as of 9/30/23). A key performance indicator, annual recurring revenue, or ARR, is the annualized revenue from PAR’s subscription services, which includes subscription fees for PAR’s SaaS solutions and related support, managed platform development services, and transaction-based fees for payment processing services. PAR generally calculates ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each month for the respective reporting period. Adjusted EBITDA represents EBITDA as adjusted to exclude impact of non-cash employee share schemes. EBITDA represents net loss before income taxes, interest expense, depreciation and amortization.

Stuzo:Expanding Unified Commerce Platform to Convenience & Fuel

Investment Summary Stuzo Overview Transaction Overview Opportunity to Expand Footprint and Innovate in Retail Industry-leading guest engagement platform providing 1:1 personalized loyalty experience from C-store brands directly to customer Serve many major brands across the C-store and fuel spectrum, with $40M+ ARR1 and 100% gross platform retention Stuzo ended October 2023 with $14M+ in LTM Adjusted EBITDA2 PAR Technology (“PAR” or “Buyer”) to acquire 100% of the outstanding interest of Stuzo Holdings, LLC and Stuzo Blocker Inc (collectively “Stuzo sellers”) Purchase Price of $190M $170M paid in cash, financed by private placement of shares of PAR common stock $20M paid in PAR shares of PAR common stock issued to Stuzo sellers Build out PAR Technology second vertical Punchh and Stuzo are category leaders in their respective vertical Differentiated proprietary tech that will make PAR a leader in C-store guest engagement overnight Continue to transform our financial profile Single-threaded innovation roadmap and dedicated Product & Technology investment to innovate and accelerate our platform in C-store and Retails 2023 Pro-Forma PAR ARR includes Stuzo ARR (as of 10/31/23) and TASK ARR (as of 9/30/23). A key performance indicator, annual recurring revenue, or ARR, is the annualized revenue from PAR’s subscription services, which includes subscription fees for PAR’s SaaS solutions and related support, managed platform development services, and transaction-based fees for payment processing services. PAR generally calculates ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each month for the respective reporting period. Adjusted EBITDA represents EBITDA as adjusted to exclude impact of non-cash employee share schemes. EBITDA represents net loss before income taxes, interest expense, depreciation and amortization.

Foodservice becoming largest sales driver in C-store 50% of C-store lack any digitalization 5% can be considered sufficient with digitalization Only 1% can be considered at the forefront of innovation “According to preliminary data from the 2022 NACS State of the industry survey, total foodservice sales in convenience store grew by 14.3%” – itsallgoodinc.com, 08/04/23 “Convenience chains such as Sheetz, Wawa, Kum & Go, Casey’s and other have developed foodservice menus and fresh offerings that not only compete but also steal shares from Fast-Food Restaurants – qsrmagazine.com, 01/23/23 Technology & digital adoption are in the early innings1 Convenience & Fuel are Aggressively Adopting Foodservice & Digital 38% has just begun their journey of digital adoption 1) Bounteous.com, Operationalizing digital transformation convenience stores

Best-in-Class Open Commerce® Platform Delivers Business Outcomes Through Personalized & Dynamic Offers Activate – for intelligent 1:1 loyalty Transact – for integrated commerce Experience – for branded consumer engagement Retailer Connect – for corporate-to-site program management A real-time intelligent loyalty and decisioning engine that delivers progressive profiles and personalized journeys Wallet Steering A cross-channel engagement engine for the delivery of branded digital experiences and journeys across consumer touchpoints A corporate-to-site front line employee connectivity engine empowering performance against mutual business outcomes A commerce engine for the orchestration and delivery of branded digital payment wallets and mobile payment solutions

Open Platform with Deep Integration to the Convenience & Fuel Ecosystem 3rd-Party Mobile Apps Merchant Mobile Apps Merchant Web Apps SMSComms Voice-enabled Experiences Automaker Apps Connected Car Integrations Connected Car & Partner Apps Cross-Channel Digital Consumer Experiences Point-of-Sale Retail Site Connections Payment Processors Digital / Mobile Wallet & Payment Tenders ACH / Direct Debit Gift Card Credit & Debit Card Delivery &Order Ahead CRM, CDP, Marketing Automation Certified Loyalty Integrations Certified Payments Integrations EV Charger C-Store and Other Retailers Gas Station & Car Wash Back-Office & Price Book CPGOffers partech.com

Together, PAR + Stuzo Revolutionizes How Brands Engage Consumers Across Restaurant & Retails 25k Retail sites 30M+ Monthly transactions 120M+ Monthly gallons 30M+ Enrolled members $600M+ Monthly dollars <100ms AVG API response time

Back Office Systems Down-Market Expansion Retail Media Network / CPG monetization End-to-End payments solution Digital Ordering & Checkout Sizable Cross-sell Opportunity for key back-office capabilities Power multi-sided network: consumers, retailers, CPGs Deliver an end-to-end payments solution to the Long Tail market segment Develop System to further mobilize wallet steering reach and efficacy Launch turnkey customer engagement solutions tailored to Long Tail market segment Ample Whitespace to Innovate to Disrupt the Convenience & Fuel Market

Stuzo’s Compelling Business Operations and Sustainable Financial Profile Unique combination of growth & profitability Demonstrable scale $40M+2023 ARR1 Durablebusiness model High degree of visibility $14M2023 Adj. EBITDA2 111%+ 2023 Net ARR Retention >40% 2023 Rule of 403 2023 Pro-Forma PAR ARR includes Stuzo ARR (as of 10/31/23) and TASK ARR (as of 9/30/23). A key performance indicator, annual recurring revenue, or ARR, is the annualized revenue from PAR’s subscription services, which includes subscription fees for PAR’s SaaS solutions and related support, managed platform development services, and transaction-based fees for payment processing services. PAR generally calculates ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each month for the respective reporting period. Adjusted EBITDA represents EBITDA as adjusted to exclude impact of non-cash employee share schemes. EBITDA represents net loss before income taxes, interest expense, depreciation and amortization. Rule of 40 calculated as the summation of YoY ARR (1) growth and Adjusted EBITDA (2) margin.

Appendix

TASK’s Adjusted EBITDA Reconciliation LTM 1H24 (‘ 000,000) NZD USD Exchange Rate 1.00 NZD / 1 NZD 0.62 NZD / 1 USD Net Income / (Loss) After Tax $ 2 $ 1 Add: Tax Impact (7) (4) Add: Interest and Other Expenses 0 0 Add: Depreciation & Amortization 13 8 EBITDA $ 8 $ 5 Add: SBC 5 3 Other (3) (2) Adj. EBITDA $ 10 $ 6 Adjusted EBITDA represents EBITDA as adjusted to exclude impact of non-cash employee share schemes. EBITDA represents net loss before income taxes, interest expense, depreciation and amortization. LTM 1H’24 (ended 9/30/2023) TASK Adjusted EBITDA further includes adjustments for one-time items identified by PAR and reported by TASK Group in 2H’23 financial results.

Stuzo’s Adjusted EBITDA Reconciliation LTM Oct’23 (‘000,000) USD Net Income / (Loss) After Tax $ 6 Add: Tax Impact (0) Add: Interest 3 Add: Depreciation & Amortization 5 EBITDA $ 14 Add: SBC (0) Adj. EBITDA $ 14