Change Financial : Investor Presentation - June 2022

For personal use only

Investor Presentation

June 2022

Executive summary

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Simplifying payment
use
experiences globally to
be a leading PaaS
provider via simple,
	flexible & fast to market

Critical Payments

Infrastructure

Global B2B fintech providing solutions for banks & fintechs in 40+ countries

Two core products in the banking & payments ecosystem:

Vertexon (Payments as a Service (PaaS)): physical & virtual card issuing + transaction processing PaySim: payment testing solution

Forpersonal	technology

2

Established Building

Blocks

Accelerating Market

Traction

SaaS Driven Revenue

Growth

Global Market

Signed Axiom Bank as new issuing bank in US

Signed partnership with Mastercard for direct issuing in Australia & New Zealand (ANZ) Granted NZ regulatory approval; Australian regulatory approval expected 1H FY23

Signed milestone US$10.5m (A$14.6m1) 5-year contracts with 4 NZ financial institutions

Signed 3 US fintechs with minimum fee commitments totaling US$2.4m (A$3.3m) over initial terms Continued to close project & licence sales with existing & new clients

Transitioning revenue model to Software as a Service (SaaS) model

Established recurring revenue base from existing clients

SaaS clients will drive growth through volume & transaction-based fees

Targeting 4 key markets: US, LATAM, Oceania & Southeast Asia

TAM over USD$10 trillion with tailwind from the continuing trend towards cashless society Actively targeting credit unions, financial mutuals & fintechs on the back of recent client wins

1. AUD/USD = 0.72

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Focussed strategy to provide financial institutions & fintechs with enterprise banking & payments technology

Background: key acquisition has focused strategy as PaaS provider

2019	Launched payments & card issuing platform targeting US based clients
Received formal certification as a Mastercard processor in US; only 2nd company in last 20 years

2020		Acquired assets of Wirecard ANZ; card & payments management + testing solutions
	Accelerated progression as leading global PaaS provider

2021	Focused strategy - rebranded & launched Vertexon (PaaS) & PaySim (Payment Testing)
Key 'building blocks' in place providing underlying infrastructure to execute strategy

2022		Focus on building sales pipeline & accelerating conversion
	Significant milestone client & partnership contracts secured

2020	2021	2022	2022
Acquisition of	Product launch -	Mastercard - ANZ	NZ reg approval for
Wirecard ANZ assets	Vertexon & PaySim	issuing partnership	direct issuing

2019	2021	2021	2022	2022
Launch of US Processing	Product rebrand -	Axiom Bank - US	First 3 US PaaS	Milestone 4 NZ
& Issuing Platform	Vertexon & PaySim	issuing partnership	client wins	PaaS client wins

3

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Payments solutions provider, driving innovation in the banking ecosystem

Change today: delivering scalable payments solutions

Banking as a Service

Payments as a Service

Payment testing

Physical &	Transaction	Digital payments	Full payment	ATM & POS	Visa, Mastercard,
virtual card	processing for all	(Apple, Google &	simulation	UnionPay, Amex, JCB
emulation
issuing	major card schemes	Samsung Pay), BNPL		validation

56%43%

% 1H FY22 Revenue1

% 1H FY22 Revenue1

4	1. c.1% of total revenue attributable to Other Products

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Diverse team of over
use
85 people with local
	knowledge to support
personalFor	our loyal & growing
client base

5

Global fintech with local expertise

Our offices / staff

Our clients

Critical payments infrastructure

Deep client integration

Los Angeles	Athens
	Santo Domingo

Global footprint

154 Clients in 41 countries

Scalable payments platform	Brisbane
Melbourne	Auckland
16m+ cards

Processing for all the				Revenue by Region
		Oceania					USA
				10%
major schemes
29%					LATAM
					9%
				SE Asia				Rest of the
		49%					World
					3%