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Business update, FY26 guidance and Acquisition of Sphere Findi is redefining financial access in India, bridging the gap between physical and digital banking to empower millions. OCTOBER 2025 For personal use only
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Important notice & disclaimer This presentation (Presentation ) has been prepared by Findi Limited (Findi or the Company) and is authorised for release by its Directors. You must read and accept the conditions in this notice before considering the information set out in or referred to in this Presentation. If you do not agree, accept or understand the terms on which this Presentation is supplied, or if you are subject to the laws of any jurisdiction in which it would be unlawful to receive this Presentation or which requires compliance with obligations that have not been complied with in respect of it, you must immediately return or destroy this Presentation and any other confidential information supplied to you by Findi. By accepting this Presentation, you acknowledge and agree to the conditions in this notice and agree that you irrevocably release Findi from any claims you may have (presently or in the future) in connection with the provision or content of this Presentation. SUMMARY INFORMATION This Presentation contains summary information about Findi, its subsidiaries and their activities which is current as at the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Findi or that would be required in a prospectus or product disclosure statement prepared in accordance with the requirements of the Corporations Act. While Findi has taken every effort to ensure the accuracy of the material in the Presentation, neither the Company nor its advisers have verified the accuracy or completeness of the information, or any statements and opinions contained in this Presentation. This Presentation should be read in conjunction with the Company’s annual report, market releases and other periodic and continuous disclosure announcements, which are available at www.asx.com.au and findi.co. NOT INVESTMENT ADVICE Each recipient of this Presentation should make its own enquires and investigations regarding all information in this Presentation including but not limited to the assumptions, uncertainties and contingencies which may affect the future operations of Findi and the impact that different future outcomes may have on Findi. This Presentation has been prepared without taking account of any person’s individual investment objectives, financial situation or particular needs. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own investment objectives, financial situation and needs and seek legal, accounting and taxation advice appropriate to their jurisdiction. Findi is not licensed to provide financial product advice in respect of the Company’s shares. INVESTMENT RISK An investment in Findi shares is subject to known and unknown risks, some of which are beyond the control of Findi. Findi does not guarantee any particular rate of return or the performance of Findi nor does it guarantee any particular tax treatment. An investment in Findi should be considered as highly speculative and high risk due to the nature of the Company and its business. FORWARD-LOOKING STATEMENTS This Presentation contains forward looking statements. The words ‘anticipate’, ‘believe’, ‘expect’, ‘project’, ‘forecast’, ‘estimate’, ‘likely’, ‘intend’, ‘should’, ‘could’, ‘may’, ‘target’, ‘plan’ and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements are subject to risk factors associated with the Company’s business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. You should not place undue reliance on forward-looking statements and neither Findi nor any of its directors, advisers or agents assume any obligation to update such information. DISCLAIMER None of Findi’s respective advisers or any of their respective affiliates, related bodies corporate, directors, officers, partners, employees and agents, have authorised, permitted or caused the issue, submission, dispatch or provision of this Presentation and, to the extent referred to in this Presentation, none of them makes or purports to make any statement in this Presentation and there is no statement in this Presentation which is based on any statement by any of them. To the maximum extent permitted by law, Findi and its respective advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents exclude and disclaim all liability, including without limitation for negligence or for any expenses, losses, damages or costs incurred by you as a result of your participation in an investment in Findi and the information in this Presentation being inaccurate or incomplete in any way for any reason, whether by negligence or otherwise. To the maximum extent permitted by law, Findi and its respective advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in this Presentation. Statements made in this presentation are made only as at the date of this Presentation. The information in this Presentation remains subject to change without notice. All currency amounts are in Australian dollars unless stated otherwise. All current INR to AUD conversions have been performed at a constant FX rate of 55.00. 02Findi Group Investor Presentation For personal use only
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Founded in 2005, Findi bridges the gap between traditional and digital banking, offering Brown Label and White Label ATM solutions in addition to, inclusive financial services such as Domestic Money Transfer (DMT), Aadhaar Enabled Payment System (AePS), Micro ATM, bill payments, recharges, travel services, and insurance services. To drive Financial Inclusion for a New Digital India. ATM / payment locations across all Indian States & Territories as of September 2025. (277,185 including Agents that have not yet completed KYC requirements in full.) Headquarters Managed Services Centre (1) Sales Offices (1) FindiPay & ATM Presence (6) ATM Presence (21) Major cities 1. United Nations 2. Reserve Bank of India (RBI) 3. The Economic Times 4. Forbes India 5. PwC India Findi Group Investor Presentation ATM Solutions 28 States & 8 Territories BankIT Retail Merchants 1.4+ billion estimated India population in 20241 ~350 million unbanked people in India (25% of the adult population) INR ~36 trillion of currency in circulation ($653bn) as of February 20252 ~12% cash payments as a percentage of GDP in 20242.4 ~15% CAGR currency in circulation growth from 2017–243 INR ~518 trillion forecast size of India’s digital payments market ($9.4tn) by FY275 Loyalty & Rewards Bank grade loyalty & rewards Instant monetisation across Findi business units Sphere acquisition (refer page 15) PHYSCIAL DIGITAL WHAT WE DO LARGE MARKET OPPORTUNITY NATIONAL COVERAGE ~175,000 04 ~69% ~31% of operating revenue of operating revenue > $1M ARR (new revenue) For personal use only
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Investment themes Findi Group Investor Presentation Secular and favourable industry tailwinds • India remains largely underbanked and cash- centric (currency in circulation growing at 15% CAGR (2017-24) and 90% of e-commerce transactions in Semi Urban Rural (SURU) are settled in cash) • Strong need for financial inclusion and robust market opportunity for ATM players – 21 ATMs / 100k adults vis-à-vis global avg. of 39); supported by active government initiatives Robust BLA business with long-term contracts, high profitability • Operates one of India’s largest end-to-end BLA businesses; poised to Lead duopoly market • Highly profitable and cash flow generating; revenue underpinned by multi-year contracts and significant entry barriers due to capex requirements; requires deep execution expertise • Nationwide presence across 36 states and UT; >11,400 ATMs and c.2,200+ additional ATMs to be deployed by FY26 end Fast growing, last-mile digital banking solutions marketplace • Full-range of last-mile financial services in SURU through a pan-India, >163,000 agent network; 760k+ monthly customers and 3.5Mn+ monthly transactions • Tech-first DNA with continuous IT innovation and scaling strategically with multiple 3rd party partnerships • Co-branded model ‘BC Max’ Centres with onsite CBI staff offering a one-stop banking services hub • GTV increase of 43% since April 2025 Highly scalable and sustainable franchise-led WLA model • WLA Player in India with network of >4,600 ATMs (Sep-25); plus ~7,000 inventory of Findi’s ATMs to re-deploy • Operates a franchise-based model with merchants; low- capex and highly attractive unit economics • Highly synergistic with the FindiPay business; Virtuous flywheel effect – leverage WLA license -> deploy ATM -> capture market data • Increasing momentum evident with 560 WLA sales in the last 30 days Demonstrated ability and strong levers in place to deliver growth • Successfully executed 2 M&As (Indicash and BankIT) – making Findi a highly diversified business • Optimally placed to benefit from market consolidation and acquire contracts of other businesses in the space • Recently acquired capability of loyalty & rewards offering • On a clear path to become a ‘Payments Bank’ – a “One- stop and full-service” provider Strong execution track record with profitability since inception • FY25 Operating Revenue of >$61M, targeting >$105M in FY26. • Supported by A$36.25 million Compulsory Convertible Debentures (CCDs) contracted to convert at a A$500 million post-money valuation for TSI upon IPO. • Fully funded, highly profitable business model subject to completion of final banking facility. • Recently acquired banking grade loyalty and reward, ESG carbon offsetting solution. 05 For personal use only
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Strategic horizon towards listing on Indian stock exchange TRADITIONAL ATM BUSINESS Stage 1 – Portfolio Diversification & Expansion Foster organic expansion via deployment of ATMs at physical FindiPay stores. Execute further earnings-accretive inorganic growth. Implement new interchange rates. DIGITAL GROWTH SEGMENT (FINDIPAY) Stage 2 – Digital Transformation Accelerate FindiPay merchants' expansion to 163,274 surpassing FY25. Enhance solution capabilities to capture B2C market, Capture synergies & cross-selling between WLA and FindiPay stores Continue with BC Max rollout Implement loyalty and rewards program Become a full-service finance hub – an integrated financial services company. INITIAL PUBLIC OFFERING (TSI INDIA) Stage 3 – Unlock Shareholder Value (liquidity event) Planned IPO of TSI India during FY27 (on Bombay Stock Exchange (BSE) providing a liquidity event for Findi’s shareholders Leverage full ecosystem to accelerate growth and gain further scale, delivering increased profitability and cash flow Development of systems and strategy to become a Payments Bank. GROWTH STAGES October-25 FND is HERE Findi Group Investor Presentation We have made significant strides in achieving our strategic objectives, moving us closer to Stage 3 of our Strategic Horizon – Unlock Shareholder Value. Following the successful integration of TCPSL and BANKIT acquisitions, including required remedial actions, we continue to focus on executing our WLA and Payments Bank strategies. We also continue to pursue targeted bolt-on expansions, including the proposed acquisition of Sphere, a bank grade loyalty and reward platform (refer page 15). 06 IPO brokers targeting pricing of between 15x to 19x EBITDA, which could translate to a market capitalization on listing of between ~A$750M - ~A$900M For personal use only
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Findi Group Investor Presentation Post IPO : Findi eligible to be a Payments Bank BENEFITS OF BECOMING A PAYMENTS BANK Findi’s ecosystem allows for a rapid Payments Bank launch with minimal incremental investment, strong regulatory readiness, and immediate reach, especially in underbanked regions. Provides the ability to add new products and realise synergies through Payments Bank strategy In addition to providing shareholder liquidity, upon listing on the Bombay Stock Exchange TSI will be eligible to become a Pa yments Bank, providing significant growth opportunities. Findi’s Existing Capability Synergy with Payments Bank Advantage / Value ATM Network Cash-in / Cash-out services for deposits and remittances Immediate infrastructure, faster rollout Merchant / Agent Network BC operations, cash acceptance & disbursement Ready customer touchpoints, accelerates adoption in semi-urban and rural markets Regulatory Compliance Experience RBI, Regulatory reporting & audits Supports smooth licensing, compliance, and risk mitigation Brand Recognition Trusted fintech provider Builds customer trust quickly, encourages adoption Partnerships with Banks / Insurers Cross-selling financial products Generates alternate revenue streams beyond deposits and payments Technology Infrastructure IT platform, security, API integration with Banks Minimizes deployment time, ensures compliant scalability, strengthens customer experience WLA business BLA business BankIT business Co-located ATMs with FindiPay merchants Payments Switch providing cost savings and increasing margins Re-deployment of ATMs • Current Base: ~4,600 ATMs operational nationwide • Current Base: >163,000 Agents plus an additional 102,000 Agents at various stages of onboarding. • Makes Findi Pan-India’s largest phygital business • Well on the way to becoming a payments bank • Current Base: ~7,000 ATMs operating nationwide • Long-running contracts with major Indian banks • Target Expansion: +6,750 additional ATMs to be deployed, focusing on high-traffic areas and underserved regions to drive financial inclusion COMBINED ECOSYSTEM 07 For personal use only
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Summary Executive For personal use only
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FY26 – a difficult but transformational year with strong growth ahead… Findi Group Investor Presentation Completed TCSPL acquisition in March 2025, increasing ATMs under management by >4,500, with ability to monetise an additional6,750 warehoused ATMs Completed BankIT acquisition in April 2025 – accelerating digital capabilities and revenues (A$5.1bn Annualised GTV) Digital revenue now comprises nearly 1/3 of consolidated Group revenue and growing Remedial action taken in integrating acquired TCPSL fleet – whilst initially delaying revenue uptake, this work has now repositioned the WLA business unit for strong and profitable growth for 2HFY26 and beyond FindiPay merchants and employees now successfully integrated into BankIT, realising synergistic benefits Proposed acquisition of Sphere, a banking grade loyalty, reward & ESG solution – will enable Findi to switch on “green” and loyalty and reward features across FindiPay, BankIT merchants and BC Max Centres, creating incremental fees, differentiation and ESG credibility at scale Non-binding commitments received for a new A$30M debt facility secured with scope to scale further and release up to $40M of restricted cash on TSI India balance sheet. Proceeds will be used to fund continued growth of the business ahead of planned IPO during FY27 09 Strategic shift to increase focus on capital light and scalable WLA business for ATMs as opposed to growing BLA ATMs and contracts For personal use only
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Recent acquisitions have significantly increased market penetration Findi Group Investor Presentation FY25 MARKET PENETRATION (Pre - Acquisitions) FY26 MARKET PENETRATION (Post - Acquisitions) © GeoNames, Microsoft, TomTom Powered by Bing © GeoNames, Microsoft, TomTom Powered by Bing 10 ATMs & merchants ATMs & merchants Findi has a network of over 175,000 ATM / payment locations 1 across all Indian States & Territories providing truly national coverage and deep market penetration. . 30 ,0 0 0 + 25,0 0 0 -30 ,0 0 0 20 ,0 0 0 -25,0 0 0 1 5,0 0 0 -20 ,0 0 0 1 0 ,0 0 0 -1 5,0 0 0 50 ,0 0 -1 0 ,0 0 0 2,0 0 0 -5,0 0 0 1 ,0 0 0 -2,0 0 0 0 -1 ,0 0 0 1 ,000-2,000 0-1 ,000 1 A network of 275,000 locations including agents at various stages on onboarding. For personal use only
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FY26 guidance – Operating Revenue and EBITDA FY26 operating revenue and operating EBITDA guidance is provided opposite. A reconciliation to total revenue and EBITDA is detailed in Appendix 1. As the BLA roll-out recovers and ramps up and as the WLA portfolio re-set is complete during 2HFY26 we expect annualised run-rate Operating EBITDA by the end of the year towards $30M. See page 13. The IPO process remains on- track for second half of FY27 $16.9M $17M? $11M? $61.1M $100M – $105M OPERATING REVENUE1 OPERATING EBITDA1 Strong FY26 revenue growth driven by TCPSL and BankIT acquisitions and SBI contract that was previously managed under a third-party arrangement, now serviced by TSI WLA and Digital business units continue to be integrated and are expected to make a combined operating EBITDA contribution of ~$3M in FY26. The balance of $7M - $9M is expected from BLA operations, which were adversely impacted by funding and roll-out delays. $10M – $12M $20.6M FY25A FY26E FY25A FY26E $7.7M (impact of non- recurring items) Findi achieved operating revenue of $61.1M in FY25. This is expected to increase to beyond $100M in FY26 FY25 Operating EBITDA of $20.6M. This is expected to fall to between $10M - $12M in FY26. Roll-out delays and other non -recurring items ($7.7M) represent a significant portion of this fall (see next page). Revenue continues to grow strongly and is expected to exceed $100M this financial year, driven by recently acquired WLA and Digital business units. We have implemented improvement initiatives across the acquired TCSPL fleet which now provides us wit h a strong growth platform. ATM roll -out interruptions due to delayed banking facilities have however, adversely impacted BLA operations and operating EBITDA. 2HFY26 performance is expected to improve significantly as these issues resolve. 11Findi Group Investor Presentation FY26E Exit RR2 $130M+ Exit run-rate2 FY26E Exit RR 2 $30M+ Exit run-rate2 1. Operating revenue and EBITDA represent operating results of TSI India and exclude interest, other extraordinary income and FND corporate costs. A reconciliation between FY25 total revenue and total EBITDA included in previous results presentations is included in Appendix 1 on page 27 2 Exit run rate depicts TSI’s annualised forecast Operating Revenue and EBITDA for March 2026. For personal use only
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20.6 2.1 3.0 (14.0) 11.7 7.7 19.4 FY26 guidance – Operating EBITDA FY25A1 WLA FY26E FY26 operating EBITDA is expected to be ~$11.7M, compared to $20.6M 1 in the pcp. WLA and digital business units are expected to make modest contributions to EBITDA. BLA has been adversely impacted by funding and ATM roll -out delays. Removing the impact of non -recurring / one -off items would otherwise increase FY26 operating EBITDA to $19.4M. 12Findi Group Investor Presentation 1. Refer to Appendix 1 on page 27 for a reconciliation of FY25A Operating EBITDA. DIGITAL BLA $11.7M Non- recurring items FY26E OPERATING EBITDA Investment in growth during 2H25 • The TSI Group2 performed strongly in FY25 recording operating EBITDA of $20.6M. In preparation for continued growth and the planned IPO more c-suite staff and operating costs were added during 2HFY25. Disruption during 1H26 • Significant disruption occurred in 1HFY26, due to delays in securing ATM roll-out funding. This was compounded with 560 ATMs taken offline prior to their planned roll-out replacement, but as yet, those machines have not been replaced, negatively impacting revenue. Nonrecurring items • BLA 1HFY26 profitability was consequently impacted, with ~$7.7M EBITDA impact attributable from non-recurring delays and costs (including ATM roll-out delays, terminations, transactional legal costs and provisions.) • Removing the impact of these non-recurring items would otherwise increase FY26E operating EBITDA to $19.4M. FY26E (pre-non- recurring items) $19.4M$20.6M 2 Refer to page 31 for a corporate diagram defining the TSI Group. For personal use only
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0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 Sept-25A 3Q26E 4Q26E Mar-26E BLA WLA Digital 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 Sept-25A 3Q26E 4Q26E Mar-26E BLA WLA Digital Recovery underway The recovery is underway with the March 2026 forecast Operating Revenue annual run rate estimated to be ~$130M+ and the EBITDA annual run rate estimated to be ~$30M+. 13Findi Group Investor Presentation $20.6M $7.7M ~$130M+ Mar-26E annualised Operating Revenue run rate OPERATING REVENUE – EXIT RUN RATE EBITDA– EXIT RUN RATE -5.0 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 Sept-25A 3Q26E 4Q26E Mar-26E BLA WLA Digital -5.0 0.0 5.0 10.0 15.0 20.0 25.0 Sept-25A 3Q26E 4Q26E Mar-26E BLA WLA Digital BLA ramping up during 4Q26. TPD expected to reach peak capacity during late 1Q27 or early 2Q27. FY26E EBITDA exit run rate forecast to be ~$30M+ WLA portfolio re-set expected to be complete by end 3Q26 with steady ramp up from early to mid 4Q26 and thereafter. WLA portfolio TPD expected to track side- ways until early to mid 4Q26 while the portfolio re-set is complete. The portfolio is then expected to trend to the industry average 70 TPD. Sept-25A1 annualised EBITDA for ATM operations already back to ~$16.1M+ 1. Sept-25A unaudited results For personal use only
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FY26 guidance - by business unit 1H v 2H Findi Group Investor Presentation 14 OPERATING REVENUE & EBITDA – FY25A & FY26E – 1H v 2H 1H26 delays • 1H26 performance has been adversely impacted by delays drawing a previously approved Term Loan facility as well as other non-recurring items incurred within the BLA business unit. 1H26 Operating EBITDA • The delays and incremental cost is expected to result in an Operating EBITDA result of $0.5M for 1HFY26; increasing to a normalised $8.2M excluding non-recurring items. 2H26 recovery underway • 2HFY26 is expected to return to historical trading levels as these delays are remedied with required funding now secured. 2H26 Operating Revenue is forecast to be ~$57.5M and EBITDA is forecast to be ~$11.2M; with the March-26E annualised exit run rate expected to be ~$130m Operating Revenue and ~$30M EBITDA. IPO timing • Findi IPO advisors have confirmed that the IPO valuation and timing remains on track for FY27. Business acquisitions have now been integrated. One off expenses incurred in 1H26. All cost efficiencies have been identified and will be completely realised during 2H26. 1 H25 2H25 FY25A 1 H26A1 2H26E FY26E Exit RR2 Revenue BLA 30.1 29.5 59.6 26.4 28.9 55.3 WLA - - - 8.2 8.6 1 6.8 Dig 0.5 0.9 1 .4 1 1 .8 20.0 31 .8 TOTALS 30.7 30.4 61 .1 46.5 57.5 1 04.0 EBITDA BLA 1 2.3 1 0.3 22.6 0.1 8.5 8.6 WLA - - - 0.5 1 .6 2.1 Dig - (2.0) (2.0) (0.1 ) 1 .1 1 .0 TOTALS 1 2.3 8.3 20.6 0.5 1 1 .2 1 1 .7 BLA (non recurring) 7.7 7.7 Adjusted Operating EBITDA 8.2 1 1 .2 1 9.4 $130M+ $30M+ FY26E 1. Sept-25A unaudited results. 2. FY26 estimated forecast annualised exit run rate derived by annualising March 2026 forecast. For personal use only
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Acquisition of Sphere – ‘Green’ Loyalty and Rewards Sphere’s Carbon platform has three modular SaaS products - Insight: transaction-level emissions analytics and merchant attribution; Action: automated execution — offset payments, micro-donations, loyalty redemption, pay-with-points and card-linked offers; Report: end-to-end Scope 1–3 reporting tools (in build). Predictable, scalable commercial model - Upfront integration + monthly SaaS fees (A$1–10k); user/transaction fees; carbon-premium revenue streams. Bank-grade payments IP beyond carbon - Enables loyalty, rewards, pay- with-points and card-linked offers — live with Liv (Emirates NBD). Multi-channel activation - Surface capabilities in mobile apps, merchant POS, Findi ATMs and BankIT merchant estate for loyalty, micro-donations and checkout triggers. Programmable flows - Funds routed to offsets, local community projects or loyalty wallets per partner rules. Partner-led distribution & strategic channels - Visa APAC preferred partner + Shopify delivery-offset app — channel-driven GTM into banks and merchants. Proven traction and existing sales runway - Hundreds of millions of transactions processed, active in 5 markets – maintainable revenue of A$1.1M, and strong qualified pipeline. Sphere is an API platform that powers carbon features, loyalty/rewards and directed funding, deployable across banks, payment gateways and merchants. It is extendable to Findi ATMs and BankIT merchants and BC Max Centres , creating incremental fees, driving loyalty and ESG credibility at scale . 15 Findi has executed an agreement to acquire 100% of the share capital in Sphere (For Good) Holdings Pty Ltd (Sphere) for an implied value of up to ~A$6M1. Consideration is payable in the form of Findi Limited shares: - 50% payable at Completion; - 25% on 30 June 2026; and - 25% on 31 December 2026. The final two payments are contingent upon Sphere meeting agreed revenue milestones. The acquisition secures talent (management joining FND) and IP to accelerate cross-sell, commercial roll-out in Findi’s Indian operations, de-risks Sphere’s growth and supports momentum in proposed Indian- market IPO. Findi Group Investor Presentation 1. Completion of the acquisition is subject to a number of conditions precedent typical for transactions of this nature. For personal use only
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Board & funding updates 16 BOARD UPDATE FUNDING UPDATE Findi Group Investor Presentation Note facility Findi has secured non-binding commitments for an initial A$30M Note facility, with the ability to increase this amount. The Notes have a maturity date of three years from the date of issue and Findi can redeem the notes at any time, inclusive of a premium. The Notes will be secured against the assets of Findi Limited excluding the shares in TSI India. The applicable interest rate will be 90-day BBSW, plus a margin of ~625 basis points (currently ~10% p.a). The funding will be used to repay the A$9.5M in loan notes raised in August 2025 and the balance applied to TSI India to accelerate the BC Max rollout in partnership with the Central Bank of India and for the continued expansion of the Brown Label ATM fleet. The Note facility is scalable over time, when scaled further the facility will enable the retirement of debt in India will be able to release of up to $40M of restricted cash on TSI India balance sheet. Management and governance As we proceed towards a listing of TSI India on the Bombay Stock Exchange, we have reviewed our management and governance arrangements. As a result, Simon Vertullo will transition off the Board prior to the end of FY26. Findi has identified two new excellent candidates as directors, Stephen Benton and Tineyi Matanda, who are the directors of Sphere. The appointment of these Directors will be upon completion of the acquisition of Sphere. Stephen has a strong financial services background and is currently Chairman of Sphere. Stephen was the former CEO and MD of EFTPOS Australia and prior to this, he was Head of Consumer Finance, Emerging Business and Payments at Westpac. Steven will bring a wealth of experience as Findi transforms into a full payments bank. Tineyi is currently an Investment Director at Salter Brothers for private equity and venture capital funds with strong experience in emerging markets in Africa and Asia. For personal use only
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Update Trading For personal use only
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20.6 2.1 3.0 (14.0) 11.7 7.7 19.4 61.1 (4.3) 16.8 30.4 104.0 FY25A BLA WLA Digital FY26E FY26 Group Forecast Findi Group Investor Presentation A$10M – A$12M ($18M - $20M excluding non- recurring items) Adjusted operating EBITDA Findi forecasts A$100M – A$105M in Operating Revenue and A$10 – A$12 million in Operating EBITDA for FY26. BLA delays and downtime have impacted the FY26 forecast. The delays are considered timing issues. Findi anticipates a return to normal run rates by the end of Q4 FY26 leading into the 2027 financial year. FY25A OPERATING REVENUE OPERATING EBITDA BLA EBITDA impact due to 1H delays and additional opex. 18 BLA revenue constrained by 1H FY26 delays. WLA Digital BLA FY26E Operating EBITDA Non- recurring items ATM roll-out delays, provisions, terminations and transactional legal costs A$100M – A$105M A$10m- A$12m A$18m- A$20m A$20.6 m A$61.1m A$100 m- A$105 m For personal use only
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FY26 Group Forecast by Business Unit Findi Group Investor Presentation REVENUE EBITDA 45% 55% 1H26 2H26 1H26 2H26 FY26 1H26 2H26 FY26 FY26F Revenue 1H v 2H split: FY26F EBITDA 1H v 2H split: A$100 - A$105M A$10 - A$12M Findi forecasts that c.53% of FY26F Operating Revenue will come form BLA, c.16% from WLA and c.31% from Digital; and that c.45% of FY26F Operating Revenue will be booked in 1H26. 1HFY26F EBITDA was adversely impacted by ATM roll-out delays as previously discussed. This significantly skews EBITDA towards 2HFY26. A$M Low High Revenue - Brown Label 54 56 - White Label 16 17 - Digital 30 32 Total Revenue 100 105 FY25A 60 0 1 61 FY26E FY25A Operating EBITDA - Brown Label 23 8 - White Label 0 1 - Digital (2) 1 Total Operating EBITDA 21 10 High FY26E 12 Low 9 2 1 A$M 46 58 4% 96% 1H26 2H26 0.5 11.2 19 Sept-25A1 annualised EBITDA for ATM operations already back to ~$16.1M+ 1. Sept-25A unaudited accounts, refer to page 13. For personal use only
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Key metrics by business unit 20 Brown Label ATMs Mar-25 Sep-25 SBI (New Contract) 2,166 2,983 CBI 2,546 2,697 MoF (incl. old SBI contract) 2,609 789 Other (UB, IOB, HDFC, PNB, Canara, Uco) 492 520 Total 7,813 6,989 Mar-25 Sep-25 Urban 663 683 Semi Urban 1,087 1,165 Rural 2,624 2,789 Total 4,374 4,637 White Label ATMs Digital Mar-25 Sep-25 Agents1 No. 58,067 163,274 Annualised GTV A$B 4.2 5.1 Products # 7 8 ~163,000 merchants (265,559 merchants including merchants at various stages of onboarding.) >11,500 fleet of ATMs across India, providing truly national coverage and deep market penetration ~31% of Group Operating revenue comes from digital business unit ~53% of Group Operating revenue comes from BLA business unit ~16% of Group Operating revenue comes from WLA business unit Revenue FY25 FY26 $60M $54M-$56MTotal revenue $0M $16M-$17MTotal revenue $1M $30M-$32MTotal revenue Recent acquisitions have enabled Findi to significantly expand its WLA and digital business units from effectively $0M in revenue to ~$20M (WLA) in FY26. Digital revenues are being driven by merchant acquisitions. Findi Group Investor Presentation 1 . Agents who have fulfilled all KYC requirements. 265,559 agents as of Sept-25 including agents at various stages of onboarding. For personal use only
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Findi Group Investor Presentation Average TPD The BLA portfolio consists of 7,335 ATMs delivering an average of 124 transactions per day. Portfolio expansion The BLA portfolio is expected to expand to c.9,000 cash live ATMs by June 2026 on completion of the SBI and CBI rollouts that are underway. TPD forecast The SBI (new) sub-set of 2,935 ATMs, that is forecast to increase to 4,219 ATMs by June 2026, is currently delivering c.167 TPD and management are confident that the 4,219 will continue to ramp up to c.170 TPD. BLA PORTFOLIO Bank No. ATMs Ave TPD Fin Mix Canara Bank 139 147 66% CBI (Direct) 2,619 93 78% CBI (MoF) 184 91 75% HDFC 149 123 90% IO Bank 175 61 84% KG Bank 85 103 63% PN Bank 369 82 81% SBI (new) 2,935 167 80% SBI (MoF) 476 106 84% UCO Bank 157 109 79% UBO 47 93 72% Total 7,335 124 80% Brown Label | Trading Update The BLA operations team have successfully installed 2,935 of the 4,219 SBI ATMs awarded under the direct contract announced to the market 30 October 2023: and 184 of the additional 638 CBI ATMs announced 2 October 2024. The average rate on total transactions under the new SBI contract is ~8 Rs. A~27%+ increase on the previous average rate when comparing to the old SBI contract. +27% 21 +9% Record high . In August 2025, the SBI portfolio has seen a positive impact of festive periods, with a 9% increase in transactional volume for live BLA when compared to August 2024. Key BLA statistics For personal use only
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Findi Group Investor Presentation OPERATIONAL OVERVIEW On settlement of TCPSL in March 2025 TSI expected a turnkey White Label ATM platform with c.4,600 operating ATMs delivering an average of 55 TPD. Just prior to completion we were informed that this number had grown to 4,883 cash live ATMs. Following a full operational review immediately following settlement TSI elected to disconnect 690 of the 4,883 cash-live base and operationally divide the remaining 4,245 WLA into two segments: • Segment 1 comprised of 3,019 ATMs transacting ~55 TPD on average; and • Segment 2 comprised of 1,226 ATMs transacting < 10 TPD. White Label Label | Trading Update The profitability of the WLA portfolio is being monitored ATM by ATM, managed in clusters, the sales channels have been fully reactivated, and the FindiPay sales team have been redeployed to WLA sales. - 560 x WLA franchisee sales in the last 30 days. WLA PORTFOLIO Region No. ATMs TPD Fin Mix Central 284 28 71% North 1,326 43 78% South 1,454 30 80% East 1,231 32 68% West 341 22 82% Total 4,637 33 76% Portfolio 4,637 WLA delivering on average 33 TPD 22 Sector benchmark The TPD of our Segment 1 operational ATMs remains strong and supports our strategy to pursue a leading network of WLAs across India with market research indicating that leading WLA competitors in India are producing on average 80 TPD, and the sector is delivering c.70 TPD. 1H26 Operational focus The operational focus during the first six months of TSI ownership has been on: • the deployment of the TSI in-house ATM 360 monitoring system; • field repairs; • testing of the acquired inventory; • office consolidations; • right sizing of workforce; • streamlining of franchisee onboarding capabilities; • re-engaging and re-building Master Franchisee sales relationships; • re-setting the WLA portfolio by nurturing high performing locations, supporting average performing locations and re-deploying low performing locations. 2H26 Operational focus The operational focus for 2H26 is: • Sales channel reactivation with 560 WLA sales delivered in the last 30 days; • Uptime management and franchisee engagement for segment 1; and • Redeployment of segment 2. Sector WLA sector delivering on average ~70 TPD. For personal use only
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Digital | Trading Update Findi Group Investor Presentation BankIT has delivered immediate digital banking scale and additional infrastructure to accelerate Findi’s strategic objective of evolving into a fully fledged Payments Bank. GTV bounce back The BankIT acquisition settled 7 Apr 2025, creating a combined national platform for digital financial services. Integration BankiT and FindiPay were completely integrated within 60 days of settlement: • A unified BankIT | FindiPay portal was deployed with 49,353 FindiPay merchants successfully migrated onto the system in May-25; • FindiPay employees were consolidated into newly branded Delhi based BankIT offices; with legacy FindiPay office shut down and cost savings realized; • The FindiPay sales team redeployed to the WLA business, strengthening channel focus and aligning resources to cross sell WLA and digital to leverage growth. Disruption ~45 days Integration caused ~45 days of disruption to merchant revenues during onboarding and system harmonisation, with short-term volatility in product usage. The business stabilised from July 2025 (as detailed in the graph opposite), supported by normalised merchant activity and resumption of growth in gross transaction value (GTV) and revenue run-rate. INTEGRATION OVERVIEW The BankIT | FindiPay business experienced a ~45- day integration disruption, with recovery visible from July 2025. 23 GTV is now stable and growing. Sept-25 A$428m (annualised $5.1bn) (+43% vs Apr-25) 298 262 283 360 407 428 0 50 100 150 200 250 300 350 400 450 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 For personal use only
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Findi Group Investor Presentation What is a UBC? A Unified Banking Centre are local banking hubs and offer savings/current accounts, loans, investments, insurance and government- service facilitation in one location to bridge access gaps for the unbanked/underbanked. • BC Max (CBI -branded): Co-branded with Central Bank of India; Findi establishes and operates the site, which includes an on-site ATM. Commercials comprise a Minimum Guaranteed Revenue (MGR) over a 3-year term with potential transaction upside. • Unnati ( FindiBankIT -branded): Our own UBC format, including a FINDI WLA ATM alongside the service desk; used to extend coverage into SURAs where traditional banking infrastructure isn’t economical. Roll-out focus: Execution is centred on rapid Unnati scale-up while expanding BC Max centres per CBI roll-out terms, creating a relationship-led distribution layer that complements our core transaction rails. Findi continues to expand its network of CBI-branded BC Max sites and FindiBankIT-branded Unatti centres, each with on-site ATM access and multi- product service desk. Roll-out forecast: 500 UBC sites by 31 Mar 2026 is expected Committed/appointed: • 40 BC Max centres • 40 Unnati centres Scope (both formats): Accounts, pensions, loans, investments, insurance, government-program facilitation, financial/tax planning. Findi’s integrated financial services model, combining physical infrastructure with digital rails, enables the Company to deliver and operate Unatti centres at scale, offering an expansive, seamless customer experience Digital | Unified banking centres Building out Findi’s future payments bank branch network across India with Unified Banking Centres A NEW BANKING MODEL UBC ROLLOUT 24 For personal use only
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• BLA ATMs available for redeployment in WLA portfolio Corporate | Synergies Findi Group Investor Presentation General commercial syn ergies include: Financial synergies include: Administrative synergies include: Operational synergies include: • Integration of FindiPay – BankIT Platforms • Unnati Stores driving both Fintech as well as WLA ATM businesses • Leveraging merchants as WLA Franchisees • Tax Benefits through Unabsorbed Depreciation • Re-deployment of BLA fleet assets under WLA. • Optimising Sales team to drive Merchant (BankIT) and WLA Business simultaneously • Managerial Synergy in common support functions such as Marketing and HR • Common office driving ideas, goals and Vision • Consolidation of shared finance function brought into place from Accounts Payable, Reporting and Fixed Assets function. • Cost Saving through combined teams and Administrative optimization. • Diversified revenue streams. • Attractive to a larger investor base . • Wider Opportunities for Employees to Grow and Perform in a diversified business. • Scale will leverage better commercial outcomes when negotiating new contracts. 25 A$6 million in cost synergies are being realised and a further A$2 million identified. Full benefit of synergies to be realised by 4Q FY26. • Digital scale mitigates transformational risks. For personal use only
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Appendix 1 For personal use only
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31.4 3.7 (7.2) (7.3) 20.6 75.5 (7.2) (7.3) 61.1 2025 Operating Revenue and Operating EBITDA FY25 Total Revenue to FY25 Revenue from Operations: A$61.1mA$75.5m FY25 EBITDA to FY25 Operating EBITDA: A$20.6mA$31.4m FY25A Total Revenue Other Income1 Extra ordinary income2 FY25A Operating Revenue FY25A EBITDA3 FY25A Operating EBITDA4 Corporate Other Income1 Extra ordinary income2 27 In previous announcements (incl FY25 results presentation), Findi reported $75.7m Total Revenue and $31.4m Total EBITDA. Findi’s IPO brokers have informed Findi that potential investors assessing any IPO of TSI India will be interested in understanding operating revenue and operating EBITDA of the TSI business (disclosed in this presentation as Operating Revenue and Operating EBITDA). The above bridges depict the reconciliation from Total Revenue and Total EBITDA to Operating Revenue and Operating EBITDA with reference to the 2025 Annual Report: Operating Revenue represents revenue earned from customers within BLA, WLA and digital operations. It excludes interest and other non-operating income and extraordinary income. Operating EBITDA represents earnings from TSI India from its operations (BLA, WLA, Digitial) and excludes: net interest income/expense, extraordinary income, and corporate costs (ie. ASX listing fees, Director fees, audit of Findi Ltd). 1 . Other Income includes A$5.3 interest receipts, $656k profit on sale of assets,, $720k hedge and Fx gains. and $452k other non-operating income. 2. Extra ordinary income of $7.3m relates to the one time write back of provisions settled on conclusion of an outsourced Services Agreement that concluded in March 2025. 3. FY25A EBITDA as reported to the ASX 30 May 2025,. 4. TSI Group FY25A Operating EBITDA. Refer to page 31 for a corporate diagram defining the TSI Group. For personal use only
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ASX: FND 10 October 2025 Glossary of terms Term Definition 1 H26 The six months ended 30 September 2025 Active Agent A digital agent who has transacted within the defined activity window (e.g., last X days). AePS (Aadhaar Enabled Payment System) Biometric- based payment system that enables banking transactions using Aadhaar authentication. ATM Automatic Teller Machine ATM 360 System TSI’s in- house real- time ATM monitoring platform used for uptime and service management. BankIT Digital- banking subsidiary acquired in April 2025; integrated with FindiPay to form FindiBankIT. BBPS (Bharat Bill Payment System) A unified platform for online and offline bill payments. BC Maxx Centres Co- branded CBI centres offering full- service banking with a Minimum Guaranteed Revenue (MGR) contract. BLA (Brown Label ATM) ATMs owned by Findi and operated under bank- branded contracts (e.g., SBI, CBI). Canara Indian bank CBI (Central Bank of India) One of the partner banks under the Brown Label ATM program and BC Maxx rollout. CCD (Compulsory Convertible Debentures) Hybrid securities that convert into equity at IPO; used for funding (e.g., Piramal CCDs). CDI (CHESS Depository Interest) Structure allowing Australian investors to trade foreign shares of TSI on the ASX. CMS (Cash Management Services) Business service handling cash collection, transfer, and deposit logistics. DMC (Domestic Money Collection) Service enabling merchants to collect payments domestically. DMT (Domestic Money Transfer) Digital rail enabling fund transfers within India. For personal use only
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29 Glossary of terms Term Definition EBITDA Earnings Before Interest Tax Depreciation & Amortisation FindiPay Findi’s digital payments and merchant network platform. Franchise Model Capital- light model where independent operators (franchisees) fund ATM deposits and share in transaction revenue. GTV (Gross Transaction Value) Total value of transactions processed on the digital platform. HDFC Indian bank IndusInd Bank Lending institution providing term facilities for BLA rollout (later retracted and replaced). Integration & Consolidation Year (2026) Strategic phase focused on merging TCPSL and BankIT operations and stabilising performance. Interchange Fee Per- transaction fee paid by issuing banks to ATM operators; revised to ₹1 9 (FT) / ₹7 (NFT) from 1 May 20 25. IOB Indian Overseas Bank KG Bank Indian bank Liquidity Event Realisation of shareholder value via IPO or share sell- down. Master Franchise Network (MFN) Tier of regional franchisees managing clusters of local operators under the Findi WLA model. MGR (Minimum Guaranteed Revenue) Contractual minimum income commitment per BC Maxx or Unnati Centre. NPCI (National Payments Corporation of India) Regulatory body managing domestic payment systems and interchange rules. Offline / Down Days Period when an ATM is non- operational (e.g., banking or network delays). Payments Bank RBI- regulated entity authorised for deposits and digital payments but not lending; Findi’s target business model. PNB Indian bank For personal use only
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30 Glossary of terms Term Definition RBI Reserve Bank of India Run Rate Annualised projection of current- period performance (Revenue or EBITDA) extrapolated to 1 2 months. SBI (State Bank of India) Major bank partner under the Brown Label ATM contracts. SURU / SURA Regions Semi- Urban / Rural Areas targeted for financial inclusion initiatives. TCPSL Tata Communication Payment Solutions Ltd TPD Transactions Per Day TPD (Transactions Per Day) Average number of transactions processed per ATM per day. TSI (Transaction Solutions International) Findi’s Indian operating subsidiary managing ATM and digital businesses. UB Union Bankn UBC (Unified Banking Centre) Physical hub offering multiple financial services (accounts, loans, insurance, etc.) under Unnati or BC Maxx brands. UBO Indian bank Uco UCO Bank Unnati Centres FindiBankIT- branded UBCs deployed in underbanked areas alongside Findi WLAs. WLA (White Label ATM) ATMs owned and operated by Findi under RBI licence, accessible to customers of any bank. For personal use only
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31 Corporate structure Findi Limited TSI Investments (Mauritius) Pty Ltd Transaction Solutions International (India) Pvt Ltd Findi India Ltd (Previously TCPSL) BankIT Services Pvt Ltd Transaction Solutions International (Australia) Pty Ltd 100% 100% 100% 100% 76.88% 9.05% Findi Ltd owns 85.93% of the TSI Group: • 76.88% direct holding via Transaction Solutions International (India) Pvt Ltd; and • 9.05% via TSI Investments (Mauritius) Pty Ltd (a legacy entity that is intended to be closed and rolled up into Findi Ltd). Findi Group TSI Group For personal use only
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Email: investors@findi.co • Phone: +61 8 6444 1798 Level 4, 90 William Street, Melbourne 3000 Australia FINTECH DIGITAL PAYMENTS INNOVATION findiˌco For personal use only