RENT.COM.AU LIMITED — Capital/Financing Update 2020

Oct 1, 2020

ASX Announcement

2 October 2020

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ANZ TO PROVIDE TRANSACTIONAL BANKING TO RENTPAY

Rent.com.au Limited (ASX: RNT ) (“ RNT ” or “ the Company ”), is pleased to announce that it has entered into an agreement with Australia and New Zealand Banking Group (ASX: ANZ ) (“ ANZ ”), one of Australia’s largest and most trusted banks, to streamline and facilitate payments to the millions of renters in Australia.

Key highlights:

• 〉 ANZ’s transactional banking scale will allow RentPay to pass on cost savings to renters;

• 〉 The ANZ agreement allows RentPay to reduce payment processing time from 3 days to just 1;

• 〉 A bank of ANZ’s stature and reputation lends additional security to customer funds held in trust;

Overview

“Adding in a partner of ANZ’s calibre to the RentPay platform is fantastic,” said RNT Chief Executive Officer Greg Bader. “They are obviously a well-known and trusted brand in the industry but importantly for us, they are a leader in terms of technology adoption and disruption in the banking sector. Working with ANZ has been an easy journey, they are sympathetic to the challenges renters face and enthusiastic about the opportunity for new technology and platforms. They have worked closely with us to enable a set of features that will contribute to the way we are changing how rental payments are done”.

Rental payments are a $60 billion per year industry that is ripe for transformation and RNT is best positioned to lead this change via its RentPay platform which is nearing completion. Renting is changing in Australia, with almost two-thirds of RNT customers being either millennial or postmillennial, the generations that have driven significant changes in other industries through demanding (and adopting) services that offer simplicity, consistency and value.

“Each day, our average renter is younger, better educated and more mobile. Our largest growing segment is what we have termed the “logical renter”. These are people that choose to rent because it makes sense right now. They value the flexibility and lifestyle options that it can offer. This is also the group that see things for how they should be, not how they are and have driven next generation services like Netflix, Uber and Airbnb – services that challenged the old way.

“We have created Australia’s largest dedicated renting portal, we engage with over 700,000 renters each month, helping them find that perfect home through a combination of unique property insights and tools specific to the search phase. Working with our community and extending our relationship into the tenancy period via a customer centric payments platform is a natural, logical step for us,” said Mr Bader.

ANZ General Manager Transaction Banking & Asset Finance Solutions, Cosi De Angelis said: “We’re pleased to bring our transaction banking expertise and our scale to support RNT’s growing business, particularly its RentPay platform.”

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Conclusion

“All the pieces of the puzzle are coming together. We already have Novatti providing digital wallet and payments integration functionality as well as supporting us with compliance and licencing arrangements, now with ANZ we have the benefit of efficient, scalable and cost-effective transactional services too. We are also nearing in on an agreement to cover the final component of our initial product iteration. Of course, a platform such as RentPay will have multiple product extension opportunities too and this really excites us given the future growth it can deliver to RNT,” concluded Mr Bader.

This announcement has been approved for release by the Board of Directors.

ENDS

About Rent.com.au Limited (ASX.RNT)

rent.com.au is Australia’s #1 website dedicated to renting. With the best rated real estate apps, unique content and features, we attract over 700,000 unique visitors to our website and apps per month.

Our rental only positioning allows RNT to legitimately advocate for renting and renters, offering a range of products and services designed to make the renting process easier. This advocacy positioning and the scale of our audience means we’re becoming an influential voice in the industry.

Our new RentPay product is designed for renters and set to change the way rental payments work in the market. Designed to offer unparalleled flexibility and choice for the renting community whilst delivering certainty and consistency to Agents and Landlords, RentPay provides easy access to Renters to make and track payments, set reminders, choose new ways to pay and a host of other features under development.

About ANZ Bank (ASX.ANZ)

ANZ traces its origins to the Bank of Australasia, which opened its first office in Sydney in 1835. The bank established a Melbourne office in 1838, where ANZ's world headquarters is located today at 833 Collins Street, Melbourne.

ANZ is a publicly listed company, and was incorporated on 14 July 1977 in Australia. Australia and New Zealand Banking Group Limited is the main holding and operating company for the Group and its registered office is ANZ Centre, Level 9, 833 Collins Street, Docklands, Victoria, Australia.

ANZ is one of the top ten largest listed companies in Australia by market capitalisation, one of four major banks in Australia (by total assets) and the largest bank in New Zealand (by total assets).

As at 30 September 2019, ANZ had a market capitalisation of A$80.8 billion and total assets of A$981.1 billion.

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