WISR LIMITED — Capital/Financing Update 2021

May 31, 2021

ASX RELEASE

==> picture [147 x 48] intentionally omitted <==

WISR CAPITAL RAISING DETAILS FULLY UNDERWRITTEN INSTITUTIONAL PLACEMENT

Sydney, 01 June 2021 - Wisr Limited (ASX: WZR) (ACN 004 661 205) (“Wisr” , or the “Company”) is pleased to announce Wisr is undertaking a fully underwritten institutional Placement ( “Placement” ) to raise $50m.

New shares issued under the Placement will be issued at A$0.25 per new share ( “Placement Price” ). The Placement Price represents a 21.9% discount to Wisr's last closing price on ASX of $0.32 on 28 May 2021 and a 20.7% discount to the 5-day VWAP of A$0.315.

Approximately 200 million new ordinary shares will be issued under the Placement, representing 18.2% of Wisr's existing shares on issue.

No shareholder approval is required for the Placement, as the Company will utilise its existing placement capacity under ASX Listing 7.1 and additional placement capacity under ASX Listing Rule 7.1A.

Wisr shares will remain in a trading halt today while the Placement is conducted. Normal trading in Wisr shares is expected to resume on 2 June 2021 or such other time as the completion of the Placement is announced to the market.

SHARE PURCHASE PLAN

A share purchase plan ( “SPP” ) will follow the Placement with eligible Wisr shareholders in Australia and New Zealand offered the opportunity to acquire additional shares in Wisr. The SPP will not be underwritten. Shareholders on the Wisr register at 7:00pm (Sydney time) on Monday 31 May 2021 ( “Record date” ), with a registered address in Australia or New Zealand will be entitled to subscribe for up to $30,000 worth of Wisr shares through the SPP, subject to eligibility criteria and other terms and conditions of the SPP which will be set out in the SPP booklet and despatched to eligible shareholders in due course. Shares issued under the SPP will rank equally with existing shares of Wisr.

The SPP aims to raise approximately $5m. Wisr may decide to scale-back applications under the SPP at its absolute discretion. New Shares under the SPP are to be issued at the price paid by investors under the Placement.

Wisr Limited ACN 004 661 205 55 Harrington Street, The Rocks NSW 2000

1

==> picture [147 x 48] intentionally omitted <==

PLACEMENT & SPP TIMETABLE

Placement Timetable Date
Trading halt Monday, 31 May 2021
Launch of the Placement and lodgment of Investor Presentation Tuesday, 1 June 2021
Trading halt lifted and completion of the Placement Wednesday, 2 June 2021
Settlement of New Shares under the Placement Friday, 4 June 2021
Allotment and commencement of trading of New Shares issued under the Placement Monday, 7 June 2021
SPP Timetable Date
Record date for shareholders to participate in SPP Monday, 31 May 2021
Dispatch SPP documents to shareholders and SPP offer opens Monday, 7 June 2021
SPP offer closes Monday, 21 June 2021
Announcement of SPP participation and results Thursday, 24 June 2021
Allotment of new shares under the SPP Tuesday, 29 June 2021

All dates and times above are indicative only and may be subject to change without notice. Wisr reserves the right to amend any or all of these dates and times subject to the Corporations Act 2001 (Cth), the ASX Listing Rules and other applicable laws.

ADDITIONAL INFORMATION

Further details about the Placement are set out in the investor presentation which has also been provided to the ASX today. The investor presentation contains important information including key risks and foreign selling restrictions with respect to the Placement.

IMPORTANT NOTICES

Not for distribution or release in the United States

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction in which such an offer or solicitation would be illegal. The shares offered under the Placement and SPP ( “New Shares” ) have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended ( “U.S. Securities Act” ) or the securities laws of any

Wisr Limited ACN 004 661 205 55 Harrington Street, The Rocks NSW 2000

2

==> picture [147 x 48] intentionally omitted <==

state or other jurisdiction of the United States. Accordingly, the New Shares may not be offered or sold, directly or indirectly, to, persons in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and any other applicable securities law of any state or other jurisdiction of the United States. This announcement may not be released or distributed in the United States.

Forward looking statements

This announcement contains certain “forward-looking statements”. Forward-looking statements can generally be identified by the use of forward-looking words such as ‘expect’, ‘anticipate’, ‘likely’, ‘intend’, ‘should’, ‘could’, ‘may’, ‘predict’, ‘plan’, ‘propose’, ‘will’, ‘believe’, ‘forecast’, ‘estimate’, ‘target’, ‘outlook’, ‘guidance’, ‘potential’ and other similar expressions within the meaning of securities laws of applicable jurisdictions and include, but are not limited to, statements relating to estimates, the timing and outcome of the Placement and SPP and the use of the proceeds from the Placement and SPP.

The forward-looking statements contained in this announcement are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of WZR, its directors and management, and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. No representation or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in this announcement. The forward-looking statements are based on information available to WZR as at the date of this announcement. To the maximum extent permitted by law, WZR and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligations or undertakings to release any updates or revisions to the information to reflect any changes in expectations or assumptions.

Nothing in this announcement constitutes investment, legal, tax or other advice. You should seek appropriate professional advice before making an investment decision.

-ends-

Wisr Limited ACN 004 661 205 55 Harrington Street, The Rocks NSW 2000

3

==> picture [147 x 48] intentionally omitted <==

This announcement has been approved in accordance with the Company’s Continuous Disclosure Policy and authorised for release by the Board of Directors.

For further investor enquiries, please contact:

Vanessa Chidrawi Company Secretary E: investor@wisr.com.au

About Wisr Limited

Wisr (ASX: WZR) is Australia’s first neo-lender with a commitment to the financial wellness of all Australians, through providing a smarter, fairer and wiser collection of financial products and services. Wisr provides a unique Financial Wellness Platform underpinned by consumer finance products, the Wisr App to help Australians pay down debt, multiple credit score comparison service WisrCredit.com.au, combined with content and other products that use technology to provide better outcomes for borrowers, investors and everyday Australians.

For more information visit www.wisr.com.au

55 Harrington Street, The Rocks NSW 2000

Wisr Limited ACN 004 661 205

4