8COMMON LIMITED — Capital/Financing Update 2020

Aug 26, 2020

8common

ASX Release

27 August 2020

8common Announces CardHero Launch Following the Signing of

EML Agreement

• 8common has signed a 3-year agreement with EML Payments Limited to issue prepaid Mastercards through the company’s CardHero platform

• The agreement with EML enables the launch of 8common’s CardHero solution via two products: CardHero and CardHero+

• The core product CardHero, will be released as both a virtual and physical prepaid card combined with travel and expense management solutions. CardHero is targeted at government entities and large enterprise clients

• CardHero+ provides an additional fund disbursement platform which aims to support not for profit organisations and educational institutions

Fintech company 8common Limited (ASX:8CO) today announced it has entered into a 3-year agreement with card solutions provider EML Payments Limited (ASX: EML) to create a CardHero branded reloadable card program. Under the agreement, 8common will be able to issue CardHero branded prepaid Mastercards in partnership with EML.

CardHero leverages 8common’s significant coverage of Government and Corporate customers via its globally recognised expense8 product platform which serves over 140 government entities and large corporates including Woolworths, Amcor and others.

The CardHero and CardHero+ platforms have two distinctive use cases and clients in mind:

• CardHero is an integrated card payment and expense management solution targeted at government and large enterprise clients.

• CardHero+ is an integrated fund disbursement and spend management solution which can be used by not for profits and educational institutions to disburse funding and reconcile transactions.

The CardHero revenue model will be a combination of a monthly platform fee, and either a per card or percentage of load fee, depending on the client requirements and usage model. Further details on the pricing structure will be provided as 8common secures contracts with new clients on the CardHero platform.

Tom Cregan, Managing Director & Group CEO of EML Payments stated, "We are excited that 8common has chosen EML as their anchor partner for the CardHero platform. We believe this platform will address significant opportunities in the market and is a testament to the culture of innovation and customer-centricity evident within both EML and 8common. We look forward to working closely with the 8common team.”

8common CEO, Andrew Bond said, "The CardHero products fill two clear gaps in the market, firstly around integrated corporate payments, and secondly fund disbursement and transaction reconciliation. Both products have been designed over lengthy engagement with our existing clients and EML. The CardHero products will deliver robust and integrated solutions to support enterprise operating requirements and large transaction volumes. Our success in delivering travel and expense management solutions to government and large enterprises with expense8 ensures we have the underlying platform and support for the launch of the CardHero platform.

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8common

Demand for corporate virtual and physical card payments are expected to continue to rise in tandem with consumer payments. Our experience and position as a preferred supplier within the government and large corporate space has ensured we are well placed to deliver the CardHero platform and capture the growth opportunity."

This release is approved for release by the Board of 8common .

Further information

Corporate Investors Nic Lim Craig Sainsbury nic@8common.com Craig.sainsbury@marketeye.com.au Executive Chairman

About 8common Limited

8common’s (ASX:8CO) solutions deliver enterprise grade financial transaction processing for government entities and large enterprise businesses. Its flagship Expense8 platform is a leading pureplay provider of end to end travel expense management software, card application and management. The innovative software solutions improve organisation, productivity, incorporate company organisational policies and expense auditing to reduce fraud. Expense8 by 8common was named a Major Player in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Travel and Expense Management Applications 2019 Vendor Assessment.

Its new products being PayHero (procurement payment gateway) and CardHero (pre-paid card fund distribution) deliver closed loop solutions to support regulated, large network and high volume requirements. 8common specialises in large enterprise and government segments.

Its growing client base of more than 125,000 platform users include enterprise customers Woolworths, Broadcast Australia, Amcor, and over 140 state and federal government entities. For more information, visit https://www.8common.com/

About EML (ASX: EML)

At EML we develop tailored payment solutions for brands and their customers to make lives simpler. Through next-generation technology, our portfolio of payment solutions offers innovative options for disbursement payouts, gifts, incentives and rewards. We're proud to power many of the world’s top brands and process over $18 billion in GDV each year across 28 countries in Australia, EMEA and North America. Our payment solutions in 25 currencies are safe and secure, easy and flexible, providing customers with their money in real-time. We know payments are complex, that’s why we've made the process simple, smart and straightforward, for everyone.

We encourage you to learn more about EML Payments Limited, by visiting: EMLpayments.com

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