PaySauce Quarterly Market Update – September 2021

PaySauce grows recurring revenue 44% Lower Hutt, New Zealand - 12 October 2021 Employment fintech PaySauce (NZX:PYS) is pleased to report strong growth for the quarter with recurring revenue up 44% year on year and 22% quarter on quarter. Total recurring revenue for the September 2021 quarter includes both PaySauce processing fees and interest income, as well the new SmoothPay subscription revenue recognised in the quarter. This is the first full quarter of activity since the acquisition of SmoothPay on 31 May 2021. Excluding the acquired SmoothPay business, processing fees from PaySauce customers grew 45% YoY, the second consecutive quarter of accelerated growth, following the 44% YoY increase in the quarter to June 2021. Interest Revenue was down 20% YoY due to the significant decline in interest rates, however, an increase from $31K in Q1 to $38K in Q2 marked the first quarter on quarter increase in 12 months. The growth in processing fees has arisen from both a 38% YoY increase in PaySauce customer numbers and a 48% YoY increase in the value of payroll processed through the PaySauce platform compared to the September 2020 quarter. CEO Asantha Wijeyeratne said that it's been another strong performance off the back of an incredibly busy quarter for PaySauce. "We've added more than 300 customers to the PaySauce platform this quarter while continuing to improve our product and provide the same levels of incredible support to our customers." "I am also extremely pleased to share another incredible milestone for the company - we processed more than $100M of payroll in the month of September 2021. To me, that's a real testament to the development team for building a great product and the support team for consistently delivering fantastic service." (Please find additional tables, graphs and important footnotes in the attached PDF) KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER: - PaySauce processing fee revenue up 45% YoY to $686K - Total recurring revenue up 44% YoY to $747K - Customers using the PaySauce platform up 38% YoY to 4,244 - Total number of payroll customers up 82% YoY to 5,611 For more information about the quarter results to 30 September 2021, please contact investor@paysauce.com. ABOUT PAYSAUCE PaySauce is a SaaS fintech platform providing solutions for people at work. We give employers the technology to digitally onboard, pay and manage employees from any device. Our platform includes rosters, mobile timesheets, payroll calculations, banking integration, automated payments, PAYE filing, labour costing, automated general ledger entries and digital employment contracts. www.paysauce.com End CA:00380730 For:PYS Type:MKTUPDTE Time:2021-10-12 08:30:13