Payright : Q3 FY22 Investor Presentation

Q3 FY22

Business Update

April 2022

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Myles and Piers Redward

"This was another really strong quarter for Payright, as we continue to build scale in our business and grow awareness of our flexible, large-ticket point-of-sale consumer finance offering.

The new funding package that we secured post-quarter end marks a transformational period for Payright. We have significantly reduced our finance costs going forward, and we now have the capacity to accelerate our path towards profitability."

- Co-CEOs

Gross receivables grew to $97.2 million as at 31 March 2022; up 59% on prior corresponding period (pcp)

In April 2022, secured transformational funding package consisting of $125 million warehouse debt facility and $9.5 million capital raising via placement and convertible notesUnaudited fee income of $3.9M, up 36% on pcp. Unaudited revenue yet to be recognised as of 31st March 2022 increased to $17.3M.

Total Customers of 71.3k, up 50% on pcp; while Total Merchant stores increased to 3,778 up 21% on pcp, introducing flagship merchants including jewellery retailer, Bevilles, and NZ's Auto Super Shoppes Group's 110-strong member network.

With a strengthened balance sheet, reduced cost of funding, and all key lead indicators growing strongly, Payright is well positioned to accelerate its growth strategy and fast track its path to profitability

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Gross receivables grew to $97.2 million as at 31 March 2022, up 59% up on prior corresponding period (pcp)

Receivables continue to grow: Progress made towards profitability

Gross Merchandise Value (GMV) of $29.5 million, the second highest quarter to date, up 33% on pcp led by strong growth in the Home Improvement, and Health & Beauty verticals, albeit down from the previous highs of the seasonally stronger December quarterTotal Customers of 71.3k, up 50% on pcpTotal Merchant stores increased to 3,778 up 21% on pcp

*All numbers include both Australia and New Zealand

AASB9 requires revenue to be recognised over the life of the loan. With an average loan term of ~26 months, the majority of revenue from the periods lending activity, will be recognised in subsequent periods.

Unaudited fee income for the march quarter was $3.9 million, up 1% compared to the prior quarter, and up 36% vs. pcp

Fee income from lending activity yet to be recognised increased significantly from $16.8 million as at 31 December to $17.3 million as at 31 March.

Quarterly Fee Income Trajectory ($M)

Contracted Future Revenues ($M)

Q3 FY21

Q4 FY21

Q1 FY22

Q2 FY22

Q3 FY22

30 Sep 21

31 Dec 21

31 Mar 22

1. Income to be recognised assumes the ongoing performance of loans to their prescribed term. Actual performance may vary.

*All actuals include both Australia and New Zealand

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30+ Days Arrears (% of GMV)

Mar 21

Jun 21

Sep 21

Dec 21

Mar 22

Arrears at 31 March increased to 4.40%, up 0.77% on 31 December

Targeted resourcing and collections plan in place to improve arrears position

Losses / Cumulative GMV

Mar 21

Jun 21

Sep 21

Dec 21

Mar 22

Despite the increase in the arrears position and consistent with the uplifted arrears management plan, losses remained relatively stable compared to the prior quarter period.

The actual loss experience is well below our provisioning of 5.7% of gross receivables

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