Page 1

Media Release tyro HALF - YEAR RESULT TYRO MERCHANTS ACHIEVE RECORD $ 12.1 BILLION IN TRANSACTIONS Sydney , 22 February 2021 - Tyro this morning reported its first - half results for the 2021 financial year , demonstrating strong performance in what continued to be a challenging environment . For many of Tyro's merchants , particularly those in its core hospitality , health and retail verticals , trading conditions remained difficult , exacerbated by unpredictable lockdowns around the country . Given these circumstances , and as was the case in the prior year , Tyro maintained its focus on actions and initiatives designed to assist merchants navigating the COVID impacts . Despite these challenges , Tyro delivered strong half - year results achieving an all - time record $ 12.1 billion in transactions processed , record gross profit of $ 61.2 million and a record positive EBITDA1 result of $ 8.5 million . Tyro's statutory net loss after tax narrowed 82 % to $ 3.4 million , and on a pro forma basis the net loss was $ 2.8 million² , improving 69 % . Highlights from H1 FY21 * Record 36,720 merchants choosing Tyro as their payments solution - up 13 % ( H1 FY20 : 32,450 ) . * Record $ 12.1 billion in transactions processed by Tyro merchants - up 10 % ( H1 FY20 : $ 11.1 billion ) . * Transaction growth driving record payments gross profit of $ 54.3 million – up 16 % ( H1 FY20 : $ 46.8 million ) . * Australia's 5th largest merchant acquiring bank by terminal count - 68,338 terminals up 16 % ( H1 FY20 : 58,993 ) . * Record merchant deposits with total deposits of $ 104.0 million at 31 December 2020 ( H1 FY20 : $ 39.7 million ) . * * * * * * * Merchant loan originations $ 2.6 million - down 93 % following actions to ensure lending remained within risk appetite in the COVID environment ( H1 FY20 : $ 37.4 million ) . EBITDA¹ $ 8.5 million up 464 % ( H1 FY20 : $ 1.5 million ) . Strong Balance Sheet with $ 165 million in total capital + a capital ratio of 143 % ( H1 FY20 : $ 179 million + 145 % ) . Tyro | Bendigo Bank Alliance pre - integration activities tracking well . Tyro Connect gaining traction - 10 industry leading apps signed + 71 active merchants as at 18 February 2021 . eCommerce growth from a small base - up 376 % with $ 14.8 million in transactions processed ( H1 FY20 : $ 3.1 million ) . Telehealth payment solution growing strongly - up 86 % with $ 178.6 million transactions processed ( H1 FY20 : $ 95.8 million ) . Summary of Results ( see Appendix A for more detail ) Transaction value Revenue Gross profit H1 FY21 $ 12.1 billion $ 114.8 million $ 61.2 million H1 FY20 $ 11.1 billion $ 117.3 million $ 50.3 million % change * 9.5 % 2.1 % 21.6 % EBITDA¹ $ 8.5 million $ 1.5 million 464.2 % EBIT ( pro forma² ) ( $ 2.6 million ) ( $ 8.7 million ) 70.1 % Profit ( loss ) after tax ( pro forma² ) ( $ 2.8 million ) ( $ 9.0 million ) 69.1 % Profit ( loss ) after tax ( statutory ) ( $ 3.4 million ) ( $ 19.2 million ) 82.3 % * Percentages are based on full reported numbers ( i.e. , non - rounded source data ) Commentary Tyro this morning reported its FY21 first - half results , announcing record gross profit of $ 61.2 million , record EBITDA of $ 8.5 million and a statutory net loss of $ 3.4 million . On announcing the result , Robbie Cooke , Tyro's CEO | Managing Director said : " We are proud to have processed a record $ 12.1 billion in transactions for our merchants . This was achieved despite the continuing challenges from COVID and unpredictable lockdowns . Our merchants saw solid growth in the half , while our market leading solutions continued to attract new merchants to our platform . " 1 Tyro uses EBITDA as a non - IFRS measure of business performance , which excludes the non - cash impact of share - based payments expense , loss on equity investments and expenses associated with the IPO . 2 Pro forma adjustments include the elimination of incremental costs upon becoming a publicly listed company , the elimination of certain non - recurring items of expenditure including the exercise and vesting of Liquidity Event Performance Rights triggered by the IPO and costs of the IPO expensed . A 1/155 Clarence St , Sydney NSW 2000 T +61 2 8907 1700 E info@tyro.com W tyro.com ACN 103 575 042 AFSL 471951 ( Tyro ) is the issuer of its own financial products Better business banking