CUSCAL LIMITED — M&A Activity 2026

May 28, 2026

ASX ANNOUNCEMENT

29 May 2026

Cuscal completes acquisition of Paymark

Cuscal Limited (ASX: CCL) (Cuscal) today announced the completion of its acquisition of 100% of the issued share capital and associated equity interests in Paymark Limited, (Paymark) from Retail International Holding S.A.S. (Worldline), (the Acquisition).

This follows Cuscal's announcements on 14 April 2026 and on 24 April 2026 that Cuscal had entered into an exclusive arrangement with Worldline to acquire Paymark; and to confirm the completion of the French Works Council consultation process, respectively.

Paymark is a leading payments service provider in New Zealand with similar operations to Cuscal's Australian acquiring business and is a key component of the New Zealand payments system infrastructure.

Cuscal continues to expect the Acquisition to be mid-single digit EPS accretive in FY27 and deliver mid-teens Return on Invested Capital in FY27.¹

ENDS

This announcement was authorised for release by the Cuscal Limited Chairman.

For all enquiries:

Wynne Edgson
Investor Relations
investor@cuscal.com.au
+61 421 822 226

About Cuscal Limited (ABN 95 087 822 455 AFSL 244116)

Cuscal is an authorised deposit taking institution (ADI), with the licences, connectivity and processing capability to support all payment types and regulated data services. The combination of these capabilities and credentials within a single organisation in Australia is limited to the four major Australian banks and Cuscal. Cuscal powers seamless and secure connections for its clients and their customers. Having originally been formed in 1966 to service Australia's mutual banking organisations, Cuscal's business has focused on innovation and investment to expand its capabilities to be a leading player in Australian payments.

Cuscal

¹ FY27E EPS accretion based on Cuscal pro forma EPS (including Paymark), versus Cuscal standalone FY27E EPS. Return on Invested Capital is Paymark net profit after tax divided by cumulative equity raise plus transaction costs and integration costs. Paymark's earnings used for transaction impacts includes the cost of the investment program to upgrade its Switch technology, which will cost approximately A$21 million over the life of the program, commencing in FY26E and expected to complete by FY30E.

Level 11, Darling Park Tower 1
201 Sussex Street
Sydney NSW 2000

PO Box Q279
Queen Victoria Building
NSW 1230

Tel: (02) 8299 9000
ABN 95 087 822 455
AFSL

www.cuscal.com