AUGMENTUM FINTECH PLC — Fund Information / Factsheet 2024

Oct 28, 2024

Investment Objective

Q2 FY24/25 As at 30 September 2024 unless otherwise stated Audited valuations as at 31 March 2024

To generate capital growth over the long term through investment in a focused portfolio of fast growing and/or high potential private financial services technology ("fintech") businesses based predominantly in the UK and wider Europe.

NAV and NAV per share

March 2020 – March 2024

Factsheet

1 Portfolio Value includes other non-cash assets & liabilities to arrive at at NAV £m per share before performance fee. NAV per share is shown in pence after performance fee. 2 Consolidated cash position less net liabilities.

Portfolio Manager

Augmentum Fintech Management Ltd

The Portfolio Manager investment team comprises eight investment professionals with deep fintech expertise who leverage sector-specific operational experience and networks to identify opportunities and provide the portfolio with bespoke support. All of the senior team have experience as founders or senior executives at technology companies including Flutter.com/Betfair, Covestor and Microsoft. The team sits at the forefront of European fintech VC dealflow, targeting 100% visibility of early stage fintech deals.

Leadership

Tim Levene CEO

An experienced entrepreneur and investor, Augmentum Co-Founder and CEO Tim has sat on multiple fintech boards including interactive investor, Tide and Zopa and is highly active in cross-industry initiatives working to boost the UK fintech sector such as the UK FinTech Strategy Group and Innovate Finance. Tim was a founding employee of Flutter.com, which became one of the highest profile digital businesses in the UK after it merged with Betfair.com in 2001. A World Economic Forum Young Global Leader, Tim was elected in the City of London as an Alderman in the Ward of Bridge in 2022.

Richard Matthews COO

Richard has 23 years of venture capital and private equity experience in the technology, retail and leisure sectors on both sides of the fence. Richard started his career at PwC before joining Tim at Flutter.com (now Betfair) as CFO. Richard joined Benchmark Capital Europe (now Balderton Capital) in 2002, where he worked on early stage technology investments both in the investment phase and assisting investee companies post-funding. He spent five years investing globally at Manzanita Capital from 2005, before co-founding Augmentum with Tim.

Key Facts Company and Fund Information

Listing	Main Market LSE
Ticker	AUGM
Market cap	£170.8 million
Shares in issue	169.8 million
Management fee	1.5% up to £250m NAV, 1% thereafter
Incentive fee	Carried interest scheme of 15% subject to minimum IRR of 10% p.a. with catch-up. Only payable cash on cash
AIC Sector	Financials & Financial Innovation
ISIN	GB00BG12XV81
SEDOL	BG12XV8

13 March 2018
Augmentum Fintech Management Ltd
Frostrow Capital LLP
Computershare
Stephenson Harwood LLP
BDO LLP
Peel Hunt LLP, Singer Capital Markets

1 of 3 | Augmentum Fintech plc | 25 Southampton Buildings, London, United Kingdom, WC2A 1AL | Please read important information on page 3.

Highlights

£303.3m3

Net Asset Value

167.4p ⁴ NAV per share

102.00 gbx 5

Share price

(39.1%)6 Premium/(Discount)

26

Portfolio companies

16%5 IRR on invested capital

£44.8m7

Cash reserves

3 Before performance fee, as at 31 March 2024

• 4 After performance fee, as at 31 March 2024
• 5 As at 30 September 2024
• 6 Based on 31 March 2024 NAV after performance
• fee and share price as at 30 September 2024 7 As at 31 May 2024

info@augmentum.vc www.augmentum.vc @AugmentumF Augmentum Fintech

Composition | Sub-Sector Maturity

Highlights

Market and Company Update

Despite the ongoing macroeconomic challenges, the growth of the fintech sector continues to build momentum, driven by renewed investment activity, partnerships and technological trends. Fintech's market share, currently at 3%, is set to more than double in the next decade, supported by Europe's strong fintech ecosystem, talent, capital recycling and regulatory support. The UK is now one of only three countries in the world with a tech sector valued at over \$1 trillion, and UK fintech firms have attracted more investment than the rest of Europe combined. In addition, over 2,000 rounds of \$2 million or more have been raised by European startups in 2024 so far.

The Augmentum team has cultivated a pipeline of 1,700 high-quality opportunities in the last 12 months across priority fintech themes and maintains a high bar for investment, converting 0.1% of their pipeline into investments.

While a full update and 30 September 2024 NAV will be provided in the Company's Interim Results due to be released in late November, as announced in the latest Annual Results as at 31 March 2024, the Company's Top 10 holdings, which represent 81% of portfolio value, grew revenue at an average of 65% year-on-year and are cash generative (five positions), or have an average of 20 months cash runway. NAV before performance fee increased by 3.1% to £303.3 million of which the value of the investment portfolio was £265.1 million.

Appointment of William Reeve as Chairman - Post period end

The Company announced the appointment of William Reeve as an Independent Non-Executive Director of the Company and Chairman of the Board, with effect from 1 November 2024. He will also serve on the Company's Nominations, Audit, Valuations and Management Engagement & Remuneration Committees.

William has extensive experience in the technology sector, both as an investor and operator, spanning all stages of the company growth lifecycle, including non-executive director and chair positions of startups, private equity backed businesses and publicly listed companies alike.

Portfolio Update

Zopa surpasses £5 billion in savings deposits

Zopa Bank's Smart ISA has been a key driver in achieving the £5 billion deposits mark, taking a significant percentage of the £12.3 billion of inflows into ISA accounts in April 2024.

Tide reaches 1 million small businesses worldwide, and acquires payroll solution Onfolk - Post period end

1 million small businesses now use Tide across the world, with 650,000 users in the UK and 350,000 users in India. Tide entered the German market in May, where it has started to roll out its product proposition. Post period end, Tide acquired Onfolk, a leading, HMRC-recognised payroll solution for SMEs, which focuses on accounting, pensions and people systems.

XYB announces strategic partnership with IBM - Post period end

XYB partners with IBM to provide technologies and consulting expertise that can help financial services organisations address the growing requirements for core modernisation initiatives.

Monese acquired by Pockit - Post period end

Monese, the mobile-only current accounts provider, has been acquired by Pockit, a financial services business for the "unbanked" (subject to FCA approval). Monese's business-to-business arm, XYB, was previously spun off as a standalone business and this remains in the Augmentum portfolio, with Pockit acquiring the consumer-focused operation. Augmentum will retain a shareholding in the newly merged entity.

Farewill proposed acquisition by Dignity - Post period end

Under the terms of the proposed acquisition, Augmentum will receive shares in Castelnau Group plc as consideration for its holding in Farewill. Augmentum's understanding of the terms of the proposed acquisition implies no material change to NAV. Completion of this acquisition is not expected to occur before 1 January 2025.

Awards

• — UK Fintech Awards 2024 'Team of the Year' Finalist
• — AIC Shareholder Communication Awards 2024 'Best Factsheet' Winner

Independent Board of Directors

Chairman of the Board and of the Nominations Committee

With effect from 1st November 2024

Karen Brade Chairman of the Audit Committee

David Haysey Chairman of the Management Engagement and Remuneration Committee and of the Valuations

Conny Dorrestijn Non-Executive Director

Sir William Russell Non-Executive Director

Top 10 Holdings As at 31 March 2024

SME business banking

Invested	2018
HQ	London, UK
Cost	£17.4m
Value	£51.3m
IRR	31.5%
% of NAV	16.9%

Digital-first consumer bank

2018	Invested
London, UK	HQ
£33.7m	Cost
£39.3m	Value
3.6%	IRR
13.0%	% of NAV

Monthly subscription business for technology products

Invested	2019
HQ	Berlin, Germany
Cost	£9.3m
Value	£35.9m
IRR	41.8%
% of NAV	11.8%

Account to account instant payments provider

Invested	2020
HQ	London, UK
Cost	£9.8m
Value	£25.5m
IRR	61.0%
% of NAV	8.4%

Precious metals trading platform for individuals

Small business lending

% of NAV 2.6%

Invested	2018
HQ	London, UK
Cost	£8.4m
Value	£13.1m
IRR	13.3%
% of NAV	4.3%

Cryptocurrency exchange and custodian bank

Invested	2021	Invested	2018
HQ	New York, US	HQ	London, UK
Cost	£10.1m	Cost	£7.7m
Value	£10.9m	Value	£10.1m
IRR	3.0%	IRR	5.8%
		% of NAV	3.3%

Exited position post year end

Identity verification and fraud management platform

AI based FX trading firm

Invested	2019
HQ	Zurich, Switzerland
Cost	£2.7m
Value	£10.1m
IRR	36.5%
% of NAV	3.3%

Consumer credit refinancer

Invested	2021	Invested	2018
HQ	Stockholm, Sweden	HQ	London, UK
Cost	£10.0m	Cost	£7.9m
Value	£9.4m	Value	£7.9m
IRR	-	IRR	-

Upcoming Dates

Interim Results due to be released late November.

Augmentum Fintech Management Ltd CEO Tim Levene will host a presentation on the Interim Results via the Investor Meet Company platform. Details will be provided nearer the time and investors who already follow Augmentum Fintech plc on the Investor Meet Company platform will automatically be invited. Investors not yet following can sign up to Investor Meet Company for free and can add to meet Augmentum Fintech plc via: www.investormeetcompany.com/augmentum-fintech-plc/register-investor

Important Information

The contents of this document, which has been prepared by Augmentum Fintech Management Limited ("AFML"), have been approved by AFML solely for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended) ("FSMA"). AFML is authorised and regulated by the UK Financial Conduct Authority.

The information in this document is for informational purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this document or its accuracy or completeness. This document should not be considered a recommendation by AFML to invest in Augmentum Fintech plc (the "Company") or any of their respective affiliates, or in relation to any subscription for securities, whether actual or in the future.

This document is not for release, publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia, collectively, the "United States"), Australia, Canada, the Republic of South Africa ("South Africa"), New Zealand, Japan or any other jurisdiction where such distribution is unlawful, or to US persons, as defined in Regulation S ("Regulation S") under the US Securities Act of 1933, as amended (the "US Securities Act"). The distribution of this document may be restricted by law in certain jurisdictions and any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This document is for information purposes only and does not contain or constitute an offer for sale of, or the solicitation of an offer or an invitation to buy or subscribe for, securities to any person in the United States, Australia, Canada, South Africa, New Zealand or Japan or in any other jurisdiction.

Key Risks

Any return you receive depends on future market performance and is uncertain. The Company does not seek any protection from future market performance so you could lose some or all of your investment.

Before purchasing any securities or otherwise investing in the Company, persons viewing this document should ensure that they understand and accept fully the risks risks the Company is exposed to as disclosed in the Company's Annual Report, Key Information Document or Investor Disclosure Document, available at www.augmentum.vc/investors/

Approach to Responsible Investing

% of NAV 3.1%

Environmental, Social and Governance (ESG) principles are integrated throughout business operations; in investment decisions, at the screening stage through an exclusion list and due diligence, ongoing monitoring and engaging with portfolio companies post-investment and when making followon investment decisions, as well as within fund operations.

Read more about the approach at www.augmentum.vc/investors/companyinformation/esg/

Past Performance

Past performance is not a guide to future performance. The value of investments may fall as well as rise and is not guaranteed; an investor may receive back less than the original amount invested. This Trust may not be appropriate for investors who plan to withdraw their money within the short to medium term.

Target Market

The Company is suitable for investors seeking an investment that aims to deliver total returns over the longer term (at least five years), is compatible with the needs for retail clients, professional clients and eligible counterparties, and is eligible for all distribution channels.

The Company may not be suitable for investors who are concerned about short-term volatility and performance, have low or no risk tolerance or are looking for capital protection, who are seeking a guaranteed or regular income, or a predictable return profile. The Company does not offer capital protection.

Value Assessment

Frostrow Capital LLP, the Company's Alternative Investment Fund Manager, has conducted an annual Value Assessment on the Company in line with Financial Conduct Authority (FCA) rules set out in the Consumer Duty regulation. The Assessment focuses on the nature of the product, including benefits received and its quality, limitations that are part of the product, expected total costs to clients and target market considerations. Within this, the assessment considers quality of services, performance of the Company (against both benchmark and peers), total fees (including management fees and other fees as applicable to the Company), and also considers whether vulnerable consumers are able to receive fair value from the product. Frostrow Capital LLP concluded that the Company is providing value based on the above assessment.