PaySauce Quarterly Market Update – June 2020

PaySauce Sustains Strong Growth During Global Pandemic Lower Hutt, New Zealand - 14 July 2020 SaaS employment solutions provider PaySauce (NZX:PYS) finishes the first quarter of FY21 with continued strong growth. Relative to the first quarter of F20, total recurring revenue grew 54% to $449K. The number of employees in New Zealand being paid through PaySauce payroll software increased by 42% to 13,952 people, and the total number of employers processing pays through PaySauce increased by 41% to 2,824. PaySauce welcomed more than 330 new clients this quarter, a 13% increase in total customer base since March 31st despite the COVID-19 pandemic and nationwide lockdown. However, the majority of these new customers came onboard late in the quarter, limiting their contribution towards the quarter's recurring revenue. CEO and co-founder of PaySauce, Asantha Wijeyeratne, says "it's no mean feat to have achieved such positive quarterly results during this period of economic uncertainty. We've continued to grow our revenue and customer base, as well as hiring new staff. With this position of relative security, we've decided to extend the free PaySimple offering through to the end of September, to continue to help out Kiwi businesses who have been hard-hit by the pandemic. This is a reflection of our "people-first" approach and is something that I'm personally very proud of." KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER ? Recurring revenue up 54% to $449K ? Total employees paid through PaySauce up 42% to 13,952 ? Number of payroll customers up 41% to 2,824 (Please find additional tables, graphs and important footnotes in the attached PDF) For more information about the quarter results to 30 June 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:00356170 For:PYS Type:MKTUPDTE Time:2020-07-14 08:30:10