PicklesGO (Fixed Price) Throughout the July – Sept quarter, Fixed Price The below feedback was received from one of our large FMO customers: (PicklesGO) continues to go from strength to “Pickles team, strength, targeting retail buyers / end users. This is our most successful remarketing channel, Another outstanding achievement by the Pickles team yet again. Thank you so much achieving the best returns for our vendors. for your efforts over the past 2 months we really appreciate what you’ve done for us. The results speak for themselves with Fixed Once again thanks to all sites, on a well planned and executed Price returns against Glasses exceeding 120% Fixed Price sale in 2018. compared to 105% for vehicles sold at Auction. Based on a $15,000.00 vehicle it equates to Cheers” around $2,250.00 better return. Pickles leads the way in Fixed Price retail selling. Our success can be attributed to our Knowing the market is particularly flat during undercover facilities, innovating marketing, huge variety of vehicles and professional the July/August and September, we strategically sales teams. targeted Fixed Price, achieving amazing results With ever increasing residual value pressures on FMO’s to maximise returns, Fixed with over 4,000 vehicles sold this quarter. Price is enabling a competitive edge for our clients in securing future growth. Finance & Repossessed Vehicles The July – Sept quarter finished on a high with sales price to Glasses improving each month throughout the quarter with our 4 largest branches (Geebung, Belmore, Sunshine and Perth) all finishing between 96-99% of Glasses in September. This is aligned with previous years whereby the April – June period is typically the toughest of all and the rebound kicks off in July. This year was no different. Although the trends are predictable, we continue to look at our sales channels to ensure we preserve clearance rates and returns as much as possible, hence the improvements to our PicklesLIVE capability to further enhance the buying experience. With default rates in this sector impacting the volumes that arrive on our doorstep, we look to develop other products that can assist our clients such as DIYInspect. DIYInspect launched a few months ago and the take up has been enormous, to say the least. Many clients are using the application (Apple and Android) to assist their customers in the disposal process. We encourage you to view the YouTube video which showcases how simple yet effective the application is and the multitude of uses it can bring to many organisations. DIYInpsect was initially launched for our Novated Clearance Rate: Finance vs FMOs by month - Motor vehicles clients however it is now being used across our clients’ businesses from origination to disposal and everything in between. Quite a few of our clients are using the application to assist in the private sale process. If you wish to know more, please email Gareth Rattray at gareth.rattray@pickles.com.au for more information. Clearance rates are a continual focus of ours, however, not a driver in the promotion of sale on an asset. The below demonstrates the seasonal impacts in both the Finance and FMO space on clearance rates since January 2015. Clearly, our buyers are less motivated to purchase motor vehicles in the winter periods (both private and dealer) hence the business worked extremely hard in the previous quarter to ensure an uplift YoY.