Slides
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Zip Co Limited 6 November 2025 Annual General MeetingFor personal use only
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How to ask a question 2 To ask a written question select the Q & A icon Select the topic your question relates to from the drop-down list Type your question in the text box and press the send button To ask a verbal question follow the instructions below the broadcast window. Broadcast Vote Q&A Documents Your questions You may enter a question field below Select Topic SEND For personal use only
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2B Re-elect Ms Jane Citizen as a Director We have received your vote for click here to change your vote How to vote When the poll is open, select the vote icon at the top of the screen To vote, select either For, Against or Abstain You will see a vote confirmation To change or cancel your vote “click here to change your vote” at any time until the poll is closed 3 Broadcast Vote Q&A Documents Items of business 2A Re-elect Mr Sam Sample as a Director FOR AGAINST ABSTAIN For personal use only
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Chair’s address Diane Smith-Gander AO For personal use only
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5 Group CEO & Managing Director’s address Cynthia Scott For personal use only
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6 US cash EBTDA ($m)Group cash EBTDA($m) ANZ cash EBTDA ($m) In FY25 Zip delivered record profitability amidst macroeconomic uncertainty Continued to deliver significant operating leverage as the business scales +147.0% +105.3% +5.9% YoY growthYoY growthYoY growth 1 Note: (1) US FY25 cash EBTDA was $102.2m on a USD basis. For personal use only
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7 Disciplined execution driving significant operating leverage High-growth US business, comprising over 80% of divisional cash earnings, in an attractive early-stage market Leading, profitable ANZ business with strong track record in product innovation Well-capitalised balance sheet to support growth Group cash gross profit ($m) and cash net transaction margin (%)1AU yield and excess spread US TTV (US$b) and YoY growth (%) Note: (1) 1H24 and 2H24 excludes discontinued operations. Two-sided revenue model with deep customer, merchant and channel partnerships Group cash EBTDA ($m) and operating margin (%) Yield Excess spread Sustainably profitable with high growth US business and significant opportunityFor personal use only
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8 AI Powered Workforce AI Powered Processes AI Powered Products Unlocking more from every role Optimising processes to scale with efficiency Enhancing current products Enabling new revenue streams Leveraging AI to accelerate our strategyFor personal use only
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9 Purpose Unlocking financial potential, together Mission To bring exceptional experiences, innovation and partnership to every financial journey Values Customer First Own It Change the Game Stronger Together Zip today: strategically placed to deliver long-term value For personal use only
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10 Further enhance credit decisioning platforms Optimise funding and capital to support growth Enhance risk management capabilities Accelerate innovation through Fearless Frontiers Launch AI-powered products for customers Invest in AI-led operating model changes Secure new commercial partnerships Accelerate channel partnerships Enhance customer proposition to drive engagement Growth and engagement Product innovation Platforms for scale Zip will execute on three clear priorities in FY26For personal use only
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11 Significant earnings growth and operating leverage with accelerated momentum across both markets Total income ($m) +32.8% YoY Merchants (#k) +9.1% YoY Cash EBTDA ($m) +98.1% YoY TTV ($b) +38.7% YoY Transactions (m) +21.9% YoY Active customers (m) +5.3% YoY 1Q26 Group highlights 2.8 3.9 1Q25 1Q26 242.1 321.5 1Q25 1Q26 6.1 6.4 1Q25 1Q26 21.3 26.0 1Q25 1Q26 80.1 87.5 1Q25 1Q26 31.7 62.8 1Q25 1Q26 For personal use only
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12 FY26 outlook Note: (1) Subject to market conditions. Well positioned to build on the outstanding results delivered in FY25 FY25 result FY26 focus areas FY26 target range1 Revenue (Total income as a % of TTV) 8.3% • US TTV growth expected to be greater than 40% (in USD) over FY26, balancing profitability and loss performance 1 • Share of revenue from US business forecast to increase • Maintaining strong AU portfolio yield and excess spread Circa 8% Cash NTM (% of TTV) 3.9% • Capture scale benefits in cost of sales • Balance TTV growth with credit performance • Initiatives planned to further optimise funding costs 3.8% - 4.2% Operating margin (Cash EBTDA as a % of total income) 15.8% • Improve revenue to cash EBTDA conversion • Manage cash opex spend and investment, including Fearless Frontiers while meeting operating margin targets • Maintaining cost discipline and operating leverage while supporting continued growth in our businesses 16.0% - 19.0% Cash EBTDA (% of TTV) 1.3% • Measured investment in innovation and capability building, including Fearless Frontiers • Drive non-TTV dependant revenue streams and productivity >1.3% For personal use only
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13 Prior Minutes & Formal Business For personal use only
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14 ANNUAL FINANCIAL REPORT, DIRECTORS’ REPORT AND AUDITOR’S REPORT To receive and consider the annual Financial Report, the Directors’ Report and the Auditor’s Report for Zip and its consolidated entities for the financial year ended 30 June 2025. Item 1 For personal use only
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15 REMUNERATION REPORT To consider and, if thought fit, pass the following as an Ordinary Resolution: To adopt the Remuneration Report for the financial year ended 30 June 2025, as set out in the Directors’ Report in the Annual Financial Report. Note: the vote on this item is advisory only and does not bind the Directors or Zip. A voting exclusion applies to this Item. Item 2 For personal use only
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ELECTION OF ANDREW STEVENS AS A DIRECTOR “That Andrew Stevens, having been appointed by the Board as a Director of the Company effective 17 April 2025 and who retires in accordance with clause 22.6 of the Company’s Constitution and ASX Listing Rule 14.4, and being eligible, be elected as a Director of the Company.” To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution: Item 3(a) 16 For personal use only
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17 Andrew Stevens’ Election as a Director Andrew Stevens For personal use only
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RE-ELECTION OF MEREDITH SCOTT AS A DIRECTOR “That Meredith Scott, who retires by rotation, and being eligible, be re-elected as a Director of the Company in accordance with clause 22.10 of the Company’s Constitution and ASX Listing Rule 14.4.” To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution: Item 3(b) 18 For personal use only
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19 Meredith Scott’s Re-Election as a Director Meredith Scott For personal use only
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RENEWED APPROVAL OF, AND ISSUE OF SECURITIES UNDER, THE EQUITY INCENTIVE PLAN To consider and, if thought fit, pass the following as an Ordinary Resolution: “That for the purposes of ASX Listing Rule 7.2 Exception 13(b) and for all other purposes, the Equity Incentive Plan (EIP), and the issue of securities under the EIP, be approved.” A voting exclusion applies to this Item. Item 4(a) 20 For personal use only
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APPROVAL OF POTENTIAL TERMINATION BENEFITS UNDER THE EQUITY INCENTIVE PLAN To consider and, if thought fit, pass the following as an Ordinary Resolution: “That the giving of benefits to any current or future holder of a managerial or executive office in the Group to which sections 200B and 200E of the Corporations Act apply in connection with that person ceasing to hold that office be approved.” A voting exclusion applies to this Item. Item 4(b) 21 For personal use only
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GRANT OF LONG-TERM VARIABLE REWARD (LTVR) PERFORMANCE RIGHTS UNDER THE EQUITY INCENTIVE PLAN TO GROUP CEO AND MANAGING DIRECTOR, CYNTHIA SCOTT To consider and, if thought fit, pass the following, as an Ordinary Resolution: “That approval is given for the purposes of ASX Listing Rule 10.14, section 200B of the Corporations Act and all other purposes, for the issue of 531,932 LTVR Performance Rights to Cynthia Scott (a Director of the Company) under the Equity Incentive Plan.” A voting exclusion applies to this Item. Item 5 22 For personal use only
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INCREASE IN NON-EXECUTIVE DIRECTORS’ FEE POOL “That approval is given for the purposes of ASX Listing Rule 10.17 and for all other purposes, for the maximum aggregate amount of remuneration that may be paid to Zip’s non-executive directors in any financial year to be increased from $1,500,000 to $1,800,000, effective immediately.” A voting exclusion applies to this Item. To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution: Item 6 23 For personal use only
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Poll 24 For personal use only
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Close of Meeting and Questions 25 For personal use only
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Thank you For personal use only
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Disclaimer and important notices 27 The information contained in this presentation has been prepared by Zip Co Limited ACN 139 546 428 (Company). This presentation contains summary information about the current activities of the Company and its subsidiaries as at the date of this presentation. The information in this presentation is of a general nature and does not purport to be complete or to provide all information that an investor should consider when making an investment decision. It should be read in conjunction with the Company’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange. Certain market and industry data used in connection with this presentation has been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither the Company nor its representatives have independently verified any such data provided by third parties. This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in the Company. This presentation has been made available for information purposes only and does not constitute a prospectus, short form prospectus, profile statement, offer information statement or other offering document under Australian law or any other law. This presentation is not subject to the disclosure requirements affecting disclosure documents under Chapter 6D of the Corporations Act 2001 (Cth) and does contain all the information which would be required in such a disclosure document or prospectus. This presentation is not a financial product nor investment advice nor a recommendation to acquire shares and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. This presentation does not constitute the provision of, financial product advice in respect of the Company’s shares. The information in this presentation may be changed, modified or amended at any time by the Company, and is not intended to, and does not, constitute representations or warranties of the Company. Neither the Company or any of its directors, officers, agents, employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Accordingly, to the maximum extent permitted by law, none of the Company, its directors, employees or agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions contained in this presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this presentation. This presentation may contain certain “forward looking statements”. Forward risks, uncertainties and other factors, many of which are outside the control of the Company can cause actual results to differ materially from such statements. The Company makes no undertaking to update or revise such statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in any forward-looking statements made. An investment in the Company’s shares is subject to investment and other known and unknown risks, some of which are beyond the control of the Company. Such risks and uncertainties include, but are not limited to: the acquisition and retention of customers, third party service provider reliance, competition, reliance on key personnel, additional requirements for capital, the ability to raise sufficient funds to meet the needs of the Company in the future, potential acquisitions, platform disruption, commercialisation, changes in technology, reliance on new products, development timeframes, product distribution, insurance, security breaches, maintenance of key business partner relationships, management of growth, brand establishment and maintenance, as well as political and operational risks, and governmental regulation and change in laws. Additional risks and uncertainties that the Company is unaware of, or that it currently considers to be immaterial, may also become important factors that adversely affect the Company’s operating and financial performance. Usability of the Company’s products depend upon various factors outside the control of the Company including, but not limited to: device operating systems, mobile device design and operation and platform provider standards and reliance on access to internet. A number of the Company’s products and possible future products contain or will contain open source software, and the Company may license some of its software through open source projects, which may pose particular risks to its proprietary software and products in a manner that could have a negative effect on its business. The Company’s intellectual property rights are valuable, and any inability to protect them could reduce the value of its products and brand. The Company’s products may contain programming errors, which could harm its brand and operating results. The Company will rely on third party providers and internet search engines (amongst other facilities) to direct customers to the Company’s products. The Company does not guarantee any particular rate of return or the performance of the Company, nor does it guarantee the repayment of capital from the Company or any particular tax treatment. Before investing in the Company, you should consider whether this investment is suitable for you. Potential investors should consider publicly available information on the Company, carefully consider their personal circumstances and consult their professional advisers before making an investment decision. All amounts in this presentation are presented in AUD unless stated otherwise. For personal use only