Result of Share Purchase Plan

Smartpay Holdings Limited (NZX:SPY / ASX:SMP) ("Smartpay") announced today that its A$2,000,000 non-underwritten share purchase plan ("SPP") announced to the market on 2 June 2020 has closed oversubscribed. The SPP received strong support from shareholders in both New Zealand and Australia with applications totalling approximately A$11.95m. Applications will be scaled back on a proportionate basis in accordance with the number of Smartpay shares held by the applicants on the Record Date (28 May 2020). Refunds of the surplus application amounts paid will be made to applicants on 1 July 2020. Settlement of the SPP is expected to occur on 23 June 2020 and 24 June 2020 for ASX and NZX respectively, with allotment of all shares on 25 June 2020. Trading of those shares is expected to commence on the NZX on 25 June 2020 and on that ASX on 26 June 2020. The new shares to be issued under the SPP will rank equally in all respects with Smartpay's existing ordinary shares. ENDS Approved for release by Bradley Gerdis for further information contact: Bradley Gerdis, Managing Director, +61 (2) 7903 6333 / 64 (9) 442 2717 End CA:00354965 For:SPY Type:MKTUPDTE Time:2020-06-19 15:41:45