BEFOREPAY GROUP LIMITED — AGM Information 2024

Nov 19, 2024

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ASX Announcement (ASX: B4P)

20 November 2024

Annual General Meeting Presentation

Beforepay Group Limited (the Company) (ASX: B4P) provides the attached CEO presentation to be delivered to shareholders at the Company’s 2024 Annual General Meeting to be held at Automic Offices, Level 5, 126 Phillip Street, Sydney NSW 2000 and as a virtual meeting at 11:00am (AEDT) today.

This announcement has been authorised for release to the ASX by the CEO of the Company.

For more information, please contact:

Investors	Media
	Danny Younis Investor Relations, Beforepay Group Ph: 0420 293 042	Noeleene Yap
		Marketing & Communications Manager, Beforepay Group
		Ph: 0489 995 082
	investorrelations@beforepay.com.au	mediaenquiries@beforepay.com.au

About Beforepay Group

The Company was founded in 2019 to support working Australians who have not been well-served by the traditional financial-services industry. Beforepay Group operates two business lines: Beforepay, the Company’s direct-to-consumer lending business and Carrington Labs, which builds and deploys explainable AI-powered loan portfolio recommendations and lending solutions. The company has won several awards in 2024 including APAC Insider Australia Enterprise Awards 2024: Best Ethical-Lending FinTech 2024 and Most Innovative Ethical Lender of the Year 2024. For more information visit www.beforepay.com.au .

Important notice

Nothing in this announcement constitutes a representation or warranty, expressed or implemented, or financial or other advice and it is not to be relied upon in substitution for the recipient’s own exercise of independent judgment regarding Beforepay Group. Before making an investment decision, the recipient should obtain advice as it considers necessary or appropriate.

To the maximum extent permitted by law, no member of the Beforepay Group accepts any liability for any loss whatsoever arising from the use of this announcement. This announcement includes information regarding past performance of Beforepay Group and investors should be aware that past performance is not and should not be relied upon as being indicative of future performance.

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ACN 633 925 505 Suite 1, Level 9, 77 Castlereagh Street, Sydney NSW 2000

Beforepay Group Limited

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A S X : B 4 P

Business Update

Annual General Meeting November 2024

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FY24 Annual Results

Disclaimer

This presentation has been prepared by Beforepay Group Limited (the ‘Company’).

This presentation contains selected summary information only and is provided for general information purposes only. It is not a prospectus, product disclosure statement, pathfinder document or any other disclosure document for the purposes of the Corporations Act and has not been, and is not required to be, lodged with the Australian Securities & Investments Commission. Nothing in this presentation constitutes investment, legal, tax, accounting or other advice and it is not to be relied upon in substitution for the recipient’s own exercise of independent judgment with regard to the operations, financial condition and prospects of the Company or the Group. The information contained in this presentation does not constitute financial product advice. Before making an investment decision, the recipient should consider its own financial situation, objectives and needs, and conduct its own independent investigation and assessment of the contents of this presentation, including obtaining investment, legal, tax, accounting and such other advice as it considers necessary or appropriate.

This presentation has been prepared without taking account of any person’s individual investment objectives, financial situation or particular needs. It is not an invitation to buy or sell, or a solicitation to invest in or refrain from investing in, securities in Beforepay. The information in this presentation has been obtained from and based on sources believed by the Company to be reliable.

To the maximum extent permitted by law, the Company and the members of the Group make no representation or warranty, express or implied, as to the accuracy, completeness, timeliness or reliability of the contents of this presentation. To the maximum extent permitted by law, the Company does not accept any liability (including, without limitation, any liability arising from fault or negligence) for any loss whatsoever arising from the use of this presentation or its contents or otherwise arising in connection with it.

This presentation may contain forward-looking statements, guidance, forecasts, estimates, prospects, projections or statements in relation to future matters (‘Forward Statements’). Forward Statements can generally be identified by the use of forward-looking words such as “anticipate”, “estimates”, “will”, “should”, “could”, “may”, “expects”, “plans”, “forecast”, “target” or similar expressions. Forward Statements including indications, guidance or outlook on future revenues, distributions or financial position and performance or return or growth in underlying investments are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. No independent third party has reviewed the reasonableness of any such statements or assumptions. This presentation includes information regarding past performance of Beforepay and investors should be aware that past performance is not and should not be relied upon as being indicative of future performance.

Neither Beforepay nor any member of Beforepay Group represents or warrants that such Forward Statements will be achieved or will prove to be correct or gives any warranty, express or implied, as to the accuracy, completeness, likelihood of achievement or reasonableness of any Forward Statement contained in this presentation. Except as required by law or regulation, Beforepay assumes no obligation to release updates or revisions to Forward Statements to reflect any changes.

Investors should note that certain financial data included in this presentation is not recognised under the Australian Accounting Standards and is classified as ‘non-IFRS financial information’ under ASIC Regulatory Guide 230 ‘Disclosing non-IFRS financial information’ (‘RG 230’). Beforepay considers that

non-IFRS information provides useful information to users in measuring the financial performance and position of Beforepay. The non-IFRS financial measures do not have standardised meanings under Australian Accounting Standards and therefore may not be comparable to similarly titled measures determined in accordance with Australian Accounting Standards. Readers are cautioned therefore not to place undue reliance on any non-IFRS financial information and ratios in this presentation. All dollar values are in Australian dollars ($or A$) unless stated otherwise.

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© Beforepay Group Ltd

FY24 Key Achievements

• Profitable in all four quarters

• Integrated Carrington Labs' offering with Salesforce

• Applied for Australian Credit Licence (received Q1 FY25)

• Renewed external financing facility

• Announced personal-loan product (launched Q2 FY25)

• Received multiple ethical-lending awards

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FY24 Annual Results

FY24 By the Numbers

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NPBT NTM
NPBT $m $3.9
$m
$3.9m $19.5m
FY22 FY23 FY24
from a loss ($6.6m) in FY23 up from $11.7m in FY23
($6.6)
Operating
Net Defaults Expenses
1.4% $15.1m
down from 2.1% in FY23 down from $18.7m in FY23
($29.1)
Active Users Cash
Pay Advances
$710m 240,254 $19.2m
at 30 June 2024 at 30 June 2024
up from $628m in FY23
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Note: Certain financial metrics and information included throughout this presentation are not recognised under the Australian Accounting Standards and are classified as ‘non-IFRS financial information’. See Glossary of investor presentation for definitions of non-IFRS financial information. Non-IFRS financial information is unaudited. Change % is calculated using unrounded figures and may differ slightly from a number calculated using rounded figures.

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FY24 Annual Results

Strong Growth in Net Transaction Margin $

Along with Tight Cost Control

Net Transaction Margin and Operating Expenses by Quarter

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$5.6m $5.6m
Net Transaction Margin
$5.2m
up 66% to $19.5m in FY24 from
$4.8m
$11.7m in FY23.
$4.5m
$4.4m
$4.2m $4.2m
$4.0m
$3.7m $3.7m $3.7m
$4.1m
$3.2m
$2.6m Operating Expenses
down 19% to $15.1m in FY24
from $18.7m in FY23.
$1.8m
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Q1-FY23
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Q2-FY23
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Q3-FY23

Q4-FY23

Q1-FY24

Q2-FY24

Q3-FY24 Q4-FY24

Note: Certain financial metrics and information included throughout this presentation are not recognised under the Australian Accounting Standards and are classified as ‘non-IFRS financial information’. See Glossary of investor presentation for definitions of non-IFRS financial information. Non-IFRS financial information is unaudited. Change % is calculated using unrounded figures and may differ slightly from a number calculated using rounded figures.

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FY24 Annual Results

Declining Trend in Loan Defaults

Demonstrating Consistent Improvement in Credit Quality

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Gross and Net Defaults
% by Half Year
7.4%
7.4%
FY23 FY24
3.1% gross | 2.1% net 2.4% gross | 1.4% net
4.6%
4.6%
3.3%
3.2%
3.0%
2.9%
2.5%
2.3%
2.9% Gross defaults %
(of pay advances inclusive of fees)
2.3%
Net defaults %
2.0% 2.0%
(of pay advances inclusive of fees)
1.4%
1.3%
H1-FY21 H2-FY21 H1-FY22 H2-FY22 H1-FY23 H2-FY23 H1-FY24 H2-FY24
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Note: Certain financial metrics and information included throughout this presentation are not recognised under the Australian Accounting Standards and are classified as ‘non-IFRS financial information’. See Glossary of investor presentation for definitions of non-IFRS financial information. Non-IFRS financial information is unaudited. Change % is calculated using unrounded figures and may differ slightly from a number calculated using rounded figures.

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FY24 Annual Results

The Path Ahead: Top 3 Avenues for Growth

Existing core business

• Build on recent user-growth momentum

• •

• Pay advance Release next version of risk-scoring model • Maintain cost focus while continuing to invest

• • Continue to monitor credit outcomes and adjust as appropriate

New growth initiatives

• Continue initial tranche of loans

• •

• Personal loans Refine systems, processes, and risk models • Prepare for broader rollout

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• Keep building the pipeline of potential customers

• Continue investing in new analytics techniques

• Carrington Labs • Integrate with Salesforce Sales Cloud

• Go live with first clients

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