September Investor Update – Frenzi

Dear Investors,

September has been another productive month for Frenzi as we continue to advance operations, strengthen partnerships, and explore new market opportunities. We are pleased to provide you with the latest developments.

Operational Highlights

• Ride Testing Performance – Our closed ride tests have now passed 2,750 completed rides across North Yorkshire, with pick-up reliability above 98.4% and average wait times under six minutes.

• Driver Engagement – We continue to see consistent growth in driver onboarding across test regions, with daily sign-ups rising week on week. Drivers have expressed strong approval of our 57p per completed ride model and transparent approach to earnings.

• User Metrics – Rider satisfaction remains high, with over 92% of journeys rated 5 stars, validating Frenzi’s consumer appeal and trust.

  
  

Market Expansion & International Interest

• Stoke Expansion (GMB Partnership) – Supported by the GMB Union, Frenzi is preparing to expand into Stoke, engaging with key local stakeholders to establish a strong regional presence. This partnership continues to underline our alignment with driver communities nationwide.

• International Interest – Spain

  • Spain remains the most popular destination for British travellers. In 2024, 18.4 million British visitors travelled to Spain, spending over €22.6 billion, making the UK the country’s single largest inbound tourism market.

  • We are in advanced discussions with the Taxi President of Andalucía and Marbella, who is facilitating Frenzi’s introduction into Spain. Our initial trial will be focused on Andalucía and Marbella, regions that benefit from some of the highest British tourism volumes in the country.

  • This collaboration positions Frenzi to capitalise on dissatisfaction with Uber and other operators in Spain, while also enabling us to integrate with local taxi structures.

  • Importantly, the president’s strong links across Spain create a natural pathway to expand into other high-tourism hubs including Ibiza, Mallorca, Tenerife, and Barcelona, opening a gateway into Europe’s largest tourism-driven transport market.

    
    

Technology Development & Vertical Expansion

• Building the Foundations Now – A key priority is ensuring every part of our platform is built to the highest standard at this stage. By refining and perfecting the core systems now, Frenzi will be able to add new verticals and features far more quickly and efficiently later, without costly reengineering or operational setbacks. This deliberate approach ensures scalability and accelerates time-to-market when expanding into additional services.

• Expansion Beyond Rides – Alongside ride-hailing, Frenzi is preparing to extend into food delivery, parcel/courier services, and local logistics. These complementary verticals increase driver utilisation, strengthen customer retention, and diversify revenue streams, all underpinned by the same scalable technical infrastructure.

  
  

Scalability & Investment Value

• Why Tech Businesses Attract Premium Valuations – Unlike traditional industries, platform-based technology businesses scale without proportional increases in cost. Once the infrastructure is in place, each additional transaction adds revenue with very little incremental expense. This operating leverage is why technology companies typically achieve valuations far higher than transport operators, logistics firms, or hospitality groups.

• Frenzi’s Position – Frenzi’s platform is purpose-built for scale across multiple markets and verticals, meaning that the return on current investment has the potential to be magnified significantly as we roll out. Our low per-ride fee model, strong union support, and future multi-service offering set us apart from incumbents.

• Exit Opportunities – This model also creates multiple exit pathways: from acquisition by a global operator seeking entry into the UK/Europe, through strategic partnerships with international platforms, to a potential IPO once sufficient scale is reached. Early investors are positioned to benefit most from this value creation.

  
  

Financial Position & Fundraising

We continue to raise funds to accelerate roll-out, marketing, and technical development. While Frenzi remains pre-revenue, all operational indicators — rider satisfaction, driver growth, and international interest — validate our trajectory towards sustainable revenue generation.

We remain grateful for your continued confidence and support. Every step forward is laying the groundwork not only for ride-hailing disruption, but for a multi-vertical technology platform with significant long-term value.

Looking Ahead

• Expansion into Stoke and surrounding areas via GMB partnership.

• Spanish trial in Andalucía and Marbella, opening pathways into wider Spanish tourism hubs.

• Diversification into food delivery, courier, and logistics services.

• Ongoing regulator engagement to secure licences.

• Continued fundraising to ensure milestones are delivered on schedule

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We thank you for your ongoing support as we build Frenzi into a fair, transparent, and scalable technology platform that creates value well beyond ride-hailing.