PaySauce Quarterly Market Update – March 2020

PaySauce Grows Recurring Revenue by 122% and Customer Numbers by 80% Wellington, New Zealand - 15 April 2020 SaaS employment solutions provider PaySauce (NZX:PYS) finishes the financial year ended March 2020 with continued growth. Year-on-year, total recurring revenue grew 122% to $429K for the final quarter of FY20. The number of employees in New Zealand being paid through PaySauce payroll software increased by 82% to 13,178 people, and the total number of employers processing pays through PaySauce increased by 80% to 2,492. As a maturing start-up, one of PaySauce's chief objectives is to become profitable while continuing to grow and develop. This quarter has seen $4M of capital successfully raised, while behind the scenes, the business has progressively optimised systems and processes to work towards becoming cash-flow positive. CEO and co-founder of PaySauce, Asantha Wijeyeratne, says "This last quarter has been huge for partnerships, with steady progress on our agri-oriented alliance with Xero and Figured, and a new strategic partnership with a major global HR software vendor. We are proud that our software is making a small contribution to ensure NZ businesses can continue operating. This, along with the incredible support from our shareholders, allows us to offer our employees and our clients some certainty in these unprecedented times." KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER ? Recurring revenue up 122% to $429K ? Total employees paid through PaySauce up 82% to 13,178 ? Number of payroll customers up 80% to 2,492 (Please see attached PDF for related tables, graphs and important footnotes) For more information about the quarter results to 31 March 2020, please contact investor@paysauce.com. ABOUT PAYSAUCE PaySauce is software at work for people, providing employment solutions to small and medium-sized businesses. PaySauce enables business owners to pay and manage employees accurately and efficiently using the web, iOS, and Android applications. The PaySauce platform includes mobile timesheets, payroll calculations, banking integration, PAYE filing, labour costing, automated general ledger entries and digital employment contracts. www.paysauce.com End CA:00351651 For:PYS Type:MKTUPDTE Time:2020-04-15 08:30:49