NEXTNRG, INC. Q4 FY2022 earnings call

• 2022 was EzFill's first full calendar year as a public company. Revenue increased 108% from $7.2 million to $15 million. • Now has 40 trucks, 100+ fleet accounts, operating out of 5 locations in Florida. • Added 19 new fleet counts, customer base is diverse including small businesses and large grocers. • Extended agreement with Miami Formula One Grand Prix organizers, expect fleet count to grow. • Focus on improving margins via higher average pricing, cost efficiencies, exploring higher margin fuels, innovative solutions, and marketing investments.

In 2022, EzFill Holdings saw a significant revenue increase. Revenue grew from $7.2 million in 2020 to $15 million, a 108% rise. Fourth quarter revenue went from $2 million to $4.9 million. Total gallons delivered in 2022 were 3.6 million compared to 2.3 million in 2021, a 56% increase. Margin per gallon in 2022 was $0.45, up from $0.37 in 2021, a 22% increase. Operating expenses in 2022 were $12.7 million vs $8.1 million in 2021 (56% increase). Net loss in 2022 was $17.5 million vs $9.3 million in 2021. Adjusted EBITDA loss in 2022 was $11.4 million vs $5.8 million in 2021. Cash used in operations for the full year was $11.6 million, and cash position at Dec 31 was $4.2 million.

• Expect fleet count to continue growing as the EzFill brand becomes more widely known. • Focus on improving margins through higher average pricing for existing and new customers and improved cost efficiencies. • Evaluate opportunities to expand out of Florida later in 2023.

• Forward-looking statements are subject to numerous conditions beyond the company's control, as outlined in the Risk Factors section of the annual report on Form 10-K. • Operates in a competitive environment which could impact growth and margins.

Q: Based on the recent announcement of the Miami Grand Prix, have you started to earn revenue related to that preparation for the May event yet or will you start earning revenue prior to the event?

A: Yes, we started earning revenue in January. The construction is a six-month ramp up period, and we've been engaged with increasing volume as activities grow. Also, the largest amount of revenue from that event is expected in Q2.

Q: Are the fleet contracts competitively bid or are mostly a result of your sales efforts?

A: The majority of them are through the sales team and the sales efforts.