This is AgeWage in July 2018. You'll be able to track its progress as we post updates about us - but for now we are a very small business with very big ideas!

1. Simplifying pensions76
Performance
+3.04% +6.3%
5y
How was thiscalculated?
How was thiscalculated?
+28% +58%
Value for moneyscore
Very good
#2of21
6m 1y 3y
Performance relativeto other providers
Very good
View fulllist
AgeWage
AgeWage
Your PersonalPension
£22,400

2. %
Overly Complex
“Sometimes pensions seem so complicated, I
cannot understand the best thing to do” (1)
“I confess to not being able to make the remotest
sense of pensions”
Andy Haldane (Bank of England Chief Economist)
%
Abandoned Pensions
of pension owners don’t take their pensions with
them when they leave jobs (2)
1.
TheproblemAgeWage
(1) DWP, “Attitudes to Pensions: The 2012 survey,” 2012. (2) Pensions Institute, “Caveat Vendor,” 2012.
(3) OFT Workplace pensions study 2014
The buyer side of the market is one of the weakest the OFT has analysed in recent years (3)

3. (1) Automatic enrolment Declaration of compliance report tPR (2) NAPF SUrvey on job mobility 2011
(3) https://www.fca.org.uk/publication/research/famr-baseline-report.pdf (4) DWP, “Automatic Transfers,” 2013 (5) OFT Workplace pensions 2014
The opportunityAgeWage
M
abandoned pension pots by 2050 (4)
2.
Tr
DC pension
assets by 2020 (2)
M
employers offering a
workplace pension 2018 (1)
%
adults received
financial advice in last 12
months (3)
The buyer side of the market is one of the weakest the OFT has analysed in recent years (5)

4. 3.
76
Your PersonalPension
£22,400
Value for moneyscore
Very good
#2 of21
Relative performance
Very good
1.Standard Life 78/100
2. Legal& General 76/100
3.Aviva 75/100
A simple number out of 100 that
represents the
Very Good
score
80
Poor
score
65
Value For Money
of your pension
AgeWage
AgeWage
Solution

5. Customer Engagement
Auto-enrolment mandates employers
to enrol employees into a pension
scheme
AgeWage
4.
Technology in place
Automation of real time data transfer
by workplace pension providers
Pension Provider service built by
ORIGO
Why now?

6. AgeWage
4.
Competition
Access to
data to
generate
VFM
Distribution
Capability
AgeWage
Rating
Agency
Existing
Players

7. Intellectual Property
IP based product
First mover advantage
High barriers to entry
create benefit to
first movers
Regulatory relationships
Close relationships to
regulators and are seen as
trusted experts in the
industry
Industry relationships
Strong relationships - online
comparison sites, payroll,
providers and NGO’s
AgeWage
5.
Competitive Advantage

8. Marketing
Henry Tapper’s blog : 40k monthly visits
Described as “One of ten websites and blogs every
investor should bookmark"- The Times
Distribution
Go To Market StrategyAgeWage
6.
Access to 120,000 people interested in pensions on day 1 of launch

9. Advisory Board
Con Keating – Head of Research at
Brighton Rock
Julius Pursaill – Head of Investment
Committee Royal London and Chair
of DC Trustees RBS
Stella Eastwood – Group Pensions
Director Lloyds Banking Group
Oliver Payne - Actuary at Ford Europe
John Mather - Mather Advisory (since
1973)
AgeWage
7.
Management Team
Henry Tapper - CEO
+ Director First Actuarial
+ Founder Pension PlayPen
+ Regarded best connected in pensions
Chris Sier - Executive Chairman
+ Chair FCA’s cost disclosure committee
+ Fintech Envoy, UK
Ritesh Singhania - CTO
+ Serial Entrepreneur
+ Won scholarships to both Stanford and
Oxford
Andrew Walker - CMO
+ Trained architect
+ Digital designer and
+ Entrepreneur; built client base of Pension
PlayPen
Team

10. Risk
Lack of engagement from users
Not able to collect data from multiple funds to
generate VFM score
Unable to generate funding for next round
Mitigation
Signed up with PensionBee - 80,000 users
Successful Proof of Concept helps launch at
Money Super Market - 24.90m users
Chris Sier chair of FCA Transparency Board to
encourage asset managers to share data
Money Super Market offered to invest in the next
funding round if successful proof of concept
Risk and MitigationAgeWage
8.

11. 2021202020192018 2022
50,000
10,000
0
20,000
30,000
40,000
Customergrowth
Annualnumberofcustomers
Year
Revenue per customer
£120
Average value per
customer
1.2
Multiplier - some
customers will transfer
multiple pots
=(2% x
% of fund
transferred paid
by provider
£5,000)
Conservative avg value
of fund
AgeWage
9.
Growth and value

12. Revenue and costs
Year
(£)millions
0
8
7
6
5
4
3
2
1 £0.03m
2018
£0.27m
£2.36m £3.26m
2020
£0.79m £1.47m
2019
£4.35m £4.96m
2021
£7.44m £6.93m
2022
Income Costs
ProjectionsAgeWage
10.

13. Funding RequirementAgeWage
2022 Exit
11.
Angel Round
£0.26m
2018 2019
Seed Round
£1.5m
2020
Series A
£2.5m
2021
Series B
£5m
Verbal
commitment
- £0.5m from
Strategic Investors

14. Angel RoundAgeWage
Ask
£260,000
Offer
15% Equity under SEIS/EIS
Opportunity to invest in the next round under EIS
Exit
Strategic Acquisition by Financial Services Aggregators or Pension Providers
75-100x return for angel investors
12.

15. Milestones towards Seed FundingAgeWage
Product
Build
Launch
Partner
Integrations
13.
Angel Round
£0.26m
Q3 2018 Q4 2018 Q12019
Seed Round
£1.5m
Verbal
commitment
for £0.5m
Product
Testing
Pre - Revenue Post - Revenue

16. Why AgeWage?AgeWage
14.
Vision
Giving people the information to bring their pensions together and
organise retirement finances
Team
Super-connected within pensions industry
Strong ties to regulators
Experience in building pensions technology
Distribution
80,000 users on day of launch via PensionBee
Money Super Market – keen to launch post PoC
Confirmed orders from insurers to “clean up back books”

17. Disclaimer
We have preparedthis document solely for informational purposes.You should not definitely relyupon itor use itto form the
basis for any decision, contract, commitment or action whatsoever, with respect to any proposed transactionor otherwise.You
and your directors, oflcers, employees, agents and aflliates must hold this document and any oral information provided in
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of this document,please delete and destroy allcopies immediately.
Neither we nor our aflliates, nor our or their respective oflcers, employees or agents, make any representation or warranty,
express or implied, in relation to the accuracy or completeness of the information contained in this document or any oral
information provided in connection herewith, or any data it generates and accept no responsibility, obligation or liability
(whether direct or indirect, in contract, tort or otherwise)in relationto any of such information.We and our aflliates and our and
their respective oflcers, employees and agents expressly disclaim any and all liability which may be based on this document
and any errorstherein or omissions therefrom.Neither we nor any of our aflliates, nor our or their respectiveoflcers, employees
or agents, make any representation or warranty, express or implied, that any transaction has been or may be euected on the
terms or in the manner stated in this document, or as to the achievement or reasonableness of future projections, management
targets, estimates, prospects or returns, if any.Any views or terms contained herein are preliminary only, and are based on
financial,economic, market and other conditions prevailingas of the date of this document and are thereforesubject to change.
We undertakeno obligation to update any of the informationcontainedin this document.
AgeWage