BEFOREPAY GROUP LIMITED — Capital/Financing Update 2022

Jun 28, 2022

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Beforepay Group Limited

ASX Announcement (ASX: B4P)

29 June 2022

Beforepay Finance and Longreach announce agreement to an extension of its $45 million Credit Facility Agreement until 15 January 2024

Beforepay Finance Pty Limited (Beforepay Finance), a 100% subsidiary of Beforepay Group Limited (Beforepay) (ASX: B4P) and AMAL Trustees Pty Ltd (ACN 609 737 064) as trustee for the Longreach Direct Lending Fund (Longreach) have agreed to extend the term of the $45 million Longreach Credit Facility Agreement dated 9 June 2021 (currently drawn to $20.7 million) for a further 7 months from 15 June 2023 to 15 January 2024.

The extension of this agreement will continue to provide sufficient funding to support the growth of the company’s loan book over the medium term. There are no changes to existing financial covenants, including an interest rate of 9.5% per annum, set out in the Longreach Credit Facility Agreement. Beforepay uses the facility to fund 80% of its Eligible Receivables, defined as the aggregate amount owing in respect of amounts advanced by Beforepay Finance to its customers in compliance with its credit policies and which are less than 30 days overdue.

Beforepay CEO, Jamie Twiss, said : "Beforepay remains well capitalised and funded. This extension of the credit facility supports our continued momentum in user growth, revenue uplift, and strengthening margins into 2023 on our path towards profitability.”

– ENDS –

This announcement has been authorised for release to the ASX by the Board.

For more information, please contact:

Investors	Media
Andrew Keys	Nathan Motton
Investor Relations, Beforepay	Communications Lead, Beforepay
Ph: 0400 400 380	Ph: 0447 771 882
investorelations@beforepay.com.au	mediaenquiries@beforepay.com.au

About Beforepay

Beforepay was founded in 2019 to support working Australians who have not been well-served by the traditional financialservices industry. The product is an ethical, customer-friendly way to help people manage temporary cash-flow challenges. We provide our customers with early access to a portion of their pay, on-demand, in exchange for a single fixed fee, which helps them to get through short-term challenges whilst not living beyond their means. For more information visit www.beforepay.com.au .

Important notice

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This announcement contains selected summary information only and is provided for general information purposes only. It should be read - - in conjunction with Beforepay’s continuous disclosure announcements available at www.beforepay.com.au/investor hub/asx announcements. Nothing in this announcement constitutes financial product, 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 regarding the operations, financial condition and prospects of the Beforepay Group. 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 announcement, including obtaining investment, legal, tax, accounting and such other advice as it considers necessary or appropriate.

This announcement has been prepared without taking account of any person’s individual investment objectives, financial situation or particular needs. The information in this announcement has been obtained from and based on sources believed by Beforepay to be reliable. To the maximum extent permitted by law, no member of the Beforepay Group make a representation or warranty, express or implied, as to the accuracy, completeness, timeliness or reliability of the contents of this announcement. To the maximum extent permitted by law, no member of the Beforepay Group accepts any liability (including, without limitation, any liability arising from fault or negligence) for any loss whatsoever arising from the use of this announcement or its contents or otherwise arising in connection with it.

This announcement 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 assumption