Annual Meeting Presentation and Addresses

Annual Shareholders’ Meeting 
20 SEPTEMBER 2019 - WELLINGTON, NZ 
Agenda 
 
Chairman’s Introduction​ - [Andrew] 
[Chairman’s Introduction Slide] 
Goodmorning!MynameisAndrewBarnes,andI’mtheChairmanofthePaySauceBoard.               
OnbehalfoftheBoard,I’dliketowelcomeyoualltoPaySauce’sfirsteverAnnualMeeting                 
asanNZXListedCompany!It’sbeenayearofmajormilestones,andwe’redelighted               
you’re here on this journey with us. 
 
[Board of Directors Slide] 
To begin, I’ll introduce those up the front here with me: 
 
●Asantha Wijeyeratne (CEO & Co-Founder) 
●Troy Tarrant (CTO & Co-Founder) 
●Gavin Thompson (Director) 
●Mandy Simpson (Independent Director) 
●Nick Lewis (Independent Director) 
●Mat Stokes (Chief Operating Officer) 
●Greg Sheehan (Chief Customer Officer) 
●Tod Rookes (Head of Finance) 
 
YoumayalsospottheraftofPaySauceshirtsaroundtheroomaswell-wehavethe                  
wholePaySauceteam(oraswerefertothem-thePayForce),withusheretodayonthis                  
special occasion. 
 
WealsohavewithustodayKerryPriceourAuditPartnerfromGrantThornton,and               
Andrew Simmonds our solicitor from Simmonds Stewart. 
 
 

 
[Housekeeping Slide] 
Before we start with the formal presentation, I’ll quickly address a bit of house-keeping: 
 
●Firstly, thanks to Grant Thornton for hosting us here today. 
●Intheeventofanemergency,pleasefollowtheemergencyexitsignswhichare              
downtheleftandrightcorridorsnexttothelifts,andfollowtheinstructionsofthe                
venue staff. 
●And if you could please put your phones on silent. 
 
A couple of other formalities to get through: 
 
●Proxieshavebeenappointedforthepurposesofthismeetinginplaceof             
approximately33,716,592shares,representingover[29%]​ofthetotalnumberof           
shares. 
●MyfellowdirectorsandIplantovoteall​discretionary​proxieswe’vereceivedin              
favouroftheResolutionsintheNoticeofMeeting-exceptresolutionCwhereas               
directors, we’re unable to vote, in accordance with NZX listing rules. 
●Icanadvisethatthenoticeofmeetinghasbeendulygiventoallshareholders,and                
that we have quorum at this meeting. 
●Finally,I’dliketothanktheshareholdersforattending-andIampleasedto               
declare the 2019 meeting of annual shareholders ​open. 
 
Chairman’s Speech​ - [Andrew] 
 
[Agenda Slide] 
The format of today’s meeting will comprise of brief presentations from: 
●Myself as Chairman 
●Asantha our CEO 
●And Tod our Head of Finance 
 
Followedupbythefiveresolutionstoconsider,beforeweaddressanygeneralbusiness              
mattersorquestionsthatshareholdersmaywishtoraise.Wewillthenclosetheformal               
part of the meeting and welcome you to stay and join us for some light refreshments. 
 

 
[Highlights Slide 1] 
Whatayearit’sbeen,withonemajoreventbeing-ofcourse-ourNZXlisting!Welisted                   
onthemainboardinDecemberof2018,andinmanywaysthismarkedourgraduation                
fromearlystagestart-uptoseriouscontenderinNZTech.Goingpublichasraisedour               
profile,bringingmediacoverageandnewinvestmentaswellascloserscrutiny.I’mhappy              
tosaytheteamhasrisentoeverynewchallengeandhandledtheadjustmentwith               
sensitivity and professionalism. 
 
WehaveawellroundedandexperiencedBoardwhoarekeentohelpPaySaucecontinue               
tosucceedandgrowtonewheights.Ourroleistokeepsupportingandchallenging               
Asanthaandtheteamtohelpthemexecutestrategy.It’salsoimportantthatweensure               
governanceandcomplianceisheldtothehigheststandard,andguidetheteamin              
navigating the complexities of being newly listed on the NZX. 
 
[Highlights Slide 2] 
Inlinewiththis,we’vebuiltouttheseniorleadershipteamduringtheyeartohelp                
AsanthaandTroyfulfilltheirvision-bringingonTodRookesasHeadofFinance,Mat                
StokesasChiefOperatingOfficer,andGregSheehanasChiefCustomerOfficer.Their             
knowledge,experience,andskillswillbecriticaltosustaininghighgrowth,customer            
satisfaction, and implementation of strategy. 
 
We’ve seen incredible growth during 2019, passing $1M of Annualised Recurring Revenue 
at 31 March 2019, and hitting over 2,000 live processing customers as at 30 June 2019. We 
can’t talk about that without acknowledging our customers and partnerships in the 
agriculture space. The solutions we’ve built with employers in this sector have created a 
massive surge in customer numbers which shows that a product built around people can 
achieve remarkable cut-through, even in a crowded market. The next step is to emulate 
this success across other markets and verticals.  
 
Outside of just new markets and verticals, we’ve shown that we can build on product too, 
moving from a single payroll app, to a broader employment solutions platform, launching 
the contract builder app in association with Federated Farmers. 
 

 
I’mproudtothankallofourshareholders,ourpartnersandourteam.You'veallinvested                
inus,notonlyfinanciallybutalsowithyourtime,yourcreativityandyourconfidence.               
Yourcontinuedcommitmentdemonstrateshowstronglyyoubelieveinourprogressand            
ourpotential.Onthatnote,likeallhighgrowthSaaScompanies,PaySauceisalsolikelyto                
raise more capital in the future, and we would welcome your continued support in this. 
 
Withsomanyfirstsunderourbelt,wecan’thelpbutfeelthatwe’reatthebeginningof                  
somethingreallyexciting.​Theopportunitiesinthecontextofmarkets,verticals,and            
productarehugeforPaySauce,andwiththeacknowledgementoftheimportanceofnot              
losing focus when it comes to strategy, the future presents a range of exciting options. 
 
It is now my pleasure to pass you onto our CEO, Asantha. 
  

 
CEO’s Update​ - [Asantha] 
[CEO’s Address Slide] 
ThanksAndrew.It’sapleasuretobehere.It’salreadybeensaid,butitbearsrepeating-                 
thankyouallsomuchforyoursupport,andespeciallytothosewhohavebeenwithus                 
right from the start - we really couldn’t have made it to where we are today without you. 
 
Forthosenewshareholderswhodon’tknowalotaboutusyet,Ihopethattodayis                 
illuminating,andgivesyouanoverviewofwhatwe’vealreadyachievedandthehuge              
opportunities ahead of us. 
 
[Milestones Slide] 
Milestones;asAndrewmentionedtherehavebeenalotthisyear!ListingontheNZX.               
Preparingourfirsteverannualreport.LaunchingtheplatformandtheContractBuilder             
app.WewerealsonamedFinalistsintheCyberGoldcategoryoftheWellingtonGold               
Awards alongside brilliant ideas-driven businesses like Sharesies.  
 
[People Slide] 
Ontopofallthat,we’vehiredawholehostofnewteammembers,includingkeysenior                 
managementadditionsinMat,GregandTodwhoareupherewithmetoday-it’sa                 
massive privilege to have them on our side, and they’ve already had a huge impact.  
 
Speakingofwhich,I’dalsoliketoputthespotlightonourentireteam,whoareallhere                  
withustoday!SomehaveflowninfromAucklandfortheoccasion,andsomearetakinga                 
well-earnedbreakfromthephonesintheWellingtonoffice(fortunatelyFridayisa             
quieterdayinthepayrollbusiness!).Ican’timaginethatit’softenwhentheentirestaffof                 
anNZXlistedcompanyattendtheAGM,thoughIbelieveitreflectsourculturefirst,               
peoplecentricapproach.Ireallywanttosayahugethankyoutoeachandeveryoneof                  
you for the effort you put in every day - we wouldn’t be here today without you. 
 
[Community Good Slide] 
Whilewe’reveryproudofthepublicachievementswehavemadetodate,I’dalsoliketo                 
focusonadifferentkindofsuccess.Asyouknow,PaySauceisallaboutpeople.Justthis                 
month,we’veofficiallybeennamedaLivingWageaccreditedemployer,acommitment            
toprovidingallourpeoplewiththenecessitiestolivewithdignity.We’vealsojustseen                

 
thefirstuseofourvolunteertimeoffpolicy,TimePresent.Adifromourmarketingteam                
spenttwodayswithVolunteerNZ,helpingthemplananupcomingpromotional            
campaign.We’realsoproudtoremainaSuperherosponsorof1%Collective,andallthey               
do to support incredible Kiwi causes. 
 
[Customer Growth Slide] 
Thekindofgrowththatwehaveexperiencedtodateisprettyspecial,andakeydriverfor                  
ourbusinessissustainablegrowth.Whileit’sgreattohaveafast-growingcompany,it’s              
equallyimportanttotodeliverexceptionalcustomerexperience.Attheheartofthisisthe               
NetPromoterScore(NPS)measure,whichformeisthesinglebestindicatorofour               
success.Organicgrowthisincrediblypowerful,andexperiencehastaughtusthatiswe              
prioritisecustomercareaboveall,ourabilitytoattractandretaincustomersincreases             
dramatically.We’venowtickedoverthe2,000liveprocessingpayrollcustomersmarkin             
June,withcloseto10,000employeesbeingpaidthroughoursoftwareeverymonth-with               
an NPS score of 58 at March 2019. 
 
[Customer Love Slide] 
Last,butnotleast,Iwanttoacknowledgeourpartners.Partnershipsarehugeforus,and                
willcontinuetobeasweemulateoursuccessinotherverticalsandmarkets.Allourbig                 
goalswouldbepipedreamswithoutthesupport,insightandopportunitiesthatour             
partnersprovide.TotheteamsattheDairyWomen’sNetworkandFederatedFarmers-              
all your help is greatly appreciated. 
 
I’llhandyouovernowtoourHeadofFinance,Tod,whowillrunyouthroughthe                 
financials for the year. 
 
  

 
Financials​ - [Tod] 
[Financials Slide] 
Thanks Asantha, and thank you all again for coming. 
 
I’mhappytosaythattheMarch2019audithasbeensignedoffwithanunmodified                
opinion,wehavedealtwithallofthecomplexitiesofthereverseacquisition,andwehave                
preparedourfirsteverannualreport.Therewasalotofworkinvolved,andIwanttosaya                   
hugethankstoourteamforallofthehardworkputintogettingeverythingthrough,                 
and to our advisors for their valuable input and assistance along the way. 
 
[GAAP Revenue Growth Slide & Customer Growth Slide 1] 
AsAndrewmentionedearlier,wehaveseenexceptionalgrowthinbothcustomer            
volumesandrevenue.OurGAAPreportedrevenuegrew80%from$511KforMarch2018              
to$921KforMarch2019,andourcustomernumbersalsogrew86%to1,384asat31March                  
2019. 
  
Thislevelofgrowthhasbeeninfluencedbymoretraditionalfactors,suchasthespend               
weinvestinsales,marketingandadvertising,butisalsolinkedbacktoAsantha’s              
commentsearlier,aroundtheorganicgrowthandwhatwegainfromwordofmouth              
referrals.Thisisahugetestamenttothequalityofthecustomersupportteam,andjust                
how much they care about our customers. 
 
[QRR Growth Slide & Customer Growth Slide 2] 
Stronggrowthcontinuedintothesecondquarterof2019(ended30June),withourlatest               
quarterlymarketupdateshowinganunauditedincreaseinquarterlyrecurringrevenue           
of120%year-on-yearto$343K,andgrowthincustomernumbersof118%to2,002asat30                 
June 2019.  
 
[Metrics Slide] 
Outsideofcustomernumbersandrevenuegrowth,thereareotherperformancemetrics            
whichwebelieveareusefulinprovidinganunderstandingoftheSaaSbusinessmodel.              
Wehavestartedtoreportontheseintheannualreport,andthehighlightsandSaaS                
reportingpageshavebeenpreparedtoprovidethisinformationinadditiontotheGAAP              
disclosed numbers in the financial statements. I’ll recap on some of those now: 

 
AnnualisedRecurringRevenue(orARRasitisoftenreferredto)istheexpectedrevenue               
overthe12monthperiodaheadfromasetpointintime.It’sausefulmetricfortracking                  
thegrowthofthecompany.RecurringrevenueforPaySauceincludesourProcessing            
Feesfromcustomers,SubsidyfromInlandRevenue,andInterestwereceivefromholding             
customerPAYEfundsinescrowawaitingpaymenttoInlandRevenue.Alloftheseare              
linked to either the number of customers or the size of their payrolls (or both). 
 
Asat31March2019,wereachedthe$1MARRmark,whichiscommonlyseenasabitofa                    
milestone in SaaS business growth, so that’s really exciting for us. 
 
AverageRevenueperUser(orARPUasitisoftenreferredto)isameasureofhowmuch                  
revenuePaySauceearnsfromeachofitscustomers,onaverage.Asat31March2019,the                
averagemonthlyARPUwas$63.Thismeasureisusefulshowingtheimpactthat             
acquiringanaveragenewcustomerwillhaveonourtoplinerecurringrevenuestream.              
Forexample-ifacustomerisacquiredthatgenerates$63toplinerevenueeachmonth,                
onanannualbasis,theywilladd$756eachyearuntiltheyleave,ifweacquire10ofthose                   
customers,that’sanadditional$7,560,andsoon.Thereareobviouslycostsassociated             
withacquiringandservicingeachcustomeralongtheway,andcustomersstillneedto              
beretainedinordertogeneratetherevenue-butit’sausefulwayofshowinghow                 
powerful the recurring revenue or subscription model is. 
 
Thisbringsustochurnwhichisameasureofthepercentageofcustomersthatwelose                 
overtime.Asat31March2019,ourchurnwasamonthlyaverageof1.7%.Thismeansthat                  
everymonth,welose1.7%ofourexistingcustomerbase,which,basedonthesizeofour                 
customersandfactorsimpactingthem(suchasemployerswhostopemployingstaff),we             
arereallyhappywiththisfigure,especiallyinconjunctionwithourhighcustomergrowth              
numbers. This is just another testament to our customer first mentality. 
 
Asthisisourfirstyearpresentingthesemetrics,wewillcontinuetoreviewour               
disclosuresandensurethatweprovideinformationthatisasusefulandrelevantas              
possible as the business continues to grow.  
 
That’sallfromme,soI’llnowpassyoubacktoAndrewtorunthroughtheremaining                 
formalities of the meeting. 

 
Resolutions​ - [Andrew] 
[Resolutions Slide] 
Thanks Tod - this brings us to the more formal element proceedings - matters requiring 
resolution, which are outlined in the Notice of Meeting. 
 
There will be an opportunity for shareholders to ask questions on each matter being put 
to shareholders. When I call for questions, please clearly state your name before asking 
your question. 
 
Intheinterestsoffairnesstoallshareholdersattendingthismeeting,we’daskthatyou               
keepitasconciseaspossibleandbeconsideratetootherswhowanttoaskquestions.                
Shareholdersshouldspeakonceonamotionbeingputandanyquestionsshouldrelate              
directly to the matter being considered. 
 
Now, moving to the resolutions, I propose to call a poll on each of these resolutions. 
 
Youshouldallhaveavotingcardwhichwasgiventoyouwhenyouregistered.Please                
put your hand up if you don’t have a voting card and someone will help you. 
 
ResolutionsA-D,assetoutintheNoticeofMeetingshouldbeconsideredasordinary                 
resolutionsand,assuch,mustbeapprovedbyasimplemajorityofthevotescastby                
shareholders entitled to vote and voting on the resolution. 
 
ResolutionE,assetoutintheNoticeofMeetingshouldbeconsideredasaspecial                
resolutionsand,assuch,mustbeapprovedby75%ofthevotescastbyshareholders               
entitled to vote and voting on the resolution. 
  

 
Voting 
 
[Resolution A Slide] 
Resolution A​ - Asantha Wijeyeratne be Re-elected as a Director of PaySauce 
 
Resolution A concerns the re-election of Asantha Wijeyeratne as a Director of PaySauce. 
Inowproposethathavingretired,AsanthaWijeyeratnebere-electedasaDirectorof              
PaySauce. 
 
Are there any questions for the Board concerning the motion? 
[Take questions from floor] 
 
Thankyou–pleasemarkyourvotingcardswithyourvotebyticking“FOR”,              
“AGAINST” or "ABSTAIN". 
 
[Resolution B Slide] 
Resolution B​ - Mandy Simpson be Re-elected as a Director of PaySauce 
 
Resolution B concerns the re-election of Mandy Simpson as a Director of PaySauce. 
Inowproposethathavingretired,MandySimpsonbere-electedasaDirectorof              
PaySauce. 
 
Are there any questions for the Board concerning the motion? 
[Take questions from floor] 
 
Thankyou–pleasemarkyourvotingcardswithyourvotebyticking“FOR”,              
“AGAINST” or "ABSTAIN". 
 
 
 
 
 
 
 

 
[Resolution C Slide] 
Resolution C​ - Directors Remuneration 
 
ResolutionCconcernsthatthemaximumaggregateamountofremunerationpayableby            
PaySaucetoallDirectors(intheircapacityasDirectors)beincreasedfrom$60,000per              
annumtoamaximumof$125,000(plusGST,ifany)perannum,withthissumavailableto                 
be paid to the Directors of the Company as the Board considers appropriate. 
 
Are there any questions for the Board concerning the motion? 
[Take questions from floor] 
 
Thankyou–pleasemarkyourvotingcardswithyourvotebyticking“FOR”,              
“AGAINST” or "ABSTAIN". 
 
[Resolution D Slide] 
Resolution D​ - Auditors Remuneration 
 
ResolutionDconcernsthattheBoardareauthorisedtofixthefeesandexpensesofGrant                
Thornton as the auditor of PaySauce. 
 
Are there any questions for the Board concerning the motion? 
[Take questions from floor] 
 
Thankyou–pleasemarkyourvotingcardswithyourvotebyticking“FOR”,              
“AGAINST” or "ABSTAIN". 
 
 
 
 
 
 
 
 
 

 
[Resolution E Slide] 
Special ​Resolution E​ - Amendment to Company Constitution 
 
MotionEisaSpecialResolutionwhichrequires​75%ofallvotestopass.Themotionisto                  
amendPaySauce’sconstitutionintheformandthemannerdescribedintheNoticeof              
MeetingExplanatoryNotes,witheffectfromthecloseoftheAnnualShareholders’            
Meeting. 
 
Are there any questions for the Board concerning the motion? 
[Take questions from floor] 
 
Thankyou–pleasemarkyourvotingcardswithyourvotebyticking“FOR”,              
“AGAINST” or "ABSTAIN”. 
 
Collecting of voting cards 
 
Ourregistryservicesprovider,LinkMarketServiceswillnowmovethroughtheroomto              
collect your voting cards. 
 
After collection of voting cards is completed 
  
[General Business Slide] 
InowwanttoopenthefloorforanyquestionsontheFinancialStatementsfortheyear                 
ended31March2019,theAnnualReport,aswellasanygeneralbusinessquestionsor               
thoserelatingtothespeechesyou’veheardtoday.Asareminder,pleaseclearlystateyour               
name before asking your question. 
 
Intheinterestsoffairnesstoallshareholdersattendingthismeeting,pleasebeasconcise               
aspossibleandbeconsideratetoothershareholderswithquestions.Andshareholders            
should speak once.  
 
[Take questions from floor] 
  

 
Thatbringsustotheendoftheproceedingsheretoday-onceagain,thankyouallfor                  
yourattendanceandparticipation,andpleasefeelfreetojoinusforsomelight              
refreshments. 
 
ENDS

---

Annual Shareholders’ Meeting
20 September 2019

Disclaimer
●The information in this presentation is of a general nature and does not constitute financial
product advice, investment advice or any other recommendation. Nothing in this presentation
constitutes legal, financial, tax or other advice.
●This presentation should be read in conjunction with, and is subject to PaySauce’s Annual Report,
market releases and information published on PaySauce’s website - www.paysauce.com
●This presentation may contain forward looking statements about PaySauce and the
environment in which PaySauce operates, which are subject to uncertainties and elements
outside of PaySauce’s control - PaySauce’s actual results or performance may differ materially
f rom these statements. PaySauce gives no warranty or representation as to its future financial
performance or any future matter.
●This presentation may include statements relating to past performance, which should not be
regarded as a reliable indicator for future performance.
●This presentation may include information f rom third parties believed to be reliable; however, no
representations or warranties are made as to the accuracy or completeness of such information.
●While reasonable care has been taken in compiling this presentation, none of PaySauce nor its
subsidiaries, directors, employees, agents or advisors (to the maximum extent permitted by law)
gives any warranty or representation (express or implied) as to the accuracy, completeness or
reliability of the information contained in it, nor takes any responsibility for it. The information in
this presentation has not been and will not be independently verified or audited.
●No person is under any obligation to update this presentation at any time after its release to you
or provide you with further information about PaySauce.
Please refer to the Appendix for definitions of key metrics used in this presentation.
All currency amounts are in New Zealand Dollars unless stated otherwise.

Welcome!

Chairman’s Introduction
Andrew Barnes
Chairman & Director
(Non-Independent)

Board of Directors
Asantha
Wijeyeratne
CEO & Co-Founder,
Director
(Non-Independent)
Andrew
Barnes
Chairman &
Non-Executive
Director
(Non-Independent)
Gavin
Thompson
Non-Executive
Director
(Non-Independent)
Mandy
Simpson
Chair of the Audit &
Risk Committee,
Independent
Non-Executive
Director
Nick
Lewis
Independent
Non-Executive
Director

Housekeeping
In case of emergency, follow the exit signs
Please have your phone on silent

●Chairman’s Introduction
●CEO’s Address
●Financials
●Resolutions
●Other Business & Shareholder Questions
Agenda

NZX: PYS

Media
Highlights for the year

Highlights for the year
●Build out of senior leadership team
●Strong revenue and customer growth
●Launched platform and contract builder

CEO’s Address
Asantha Wijeyeratne
CEO/Co-founder & Director
(Non-Independent)

Milestones

All information in this presentation is confidential and should not be shared with anyone beyond the intended recipient

Team Growth
14 New Teammates in 2019
Tod
Greg
HoF

CCO
Mat
COO
People

All information in this presentation is confidential and should not be shared with anyone beyond the intended recipient

LIVING WAGE ACCREDITED
Accredited Employer

Community Good

SUPERHERO SPONSOR
One Percent Collective
Time Present

All information in this presentation is confidential and should not be shared with anyone beyond the intended recipient

Customers by region
2,000 CUSTOMERS
Live Processing at 30 June 2019
Customer Growth
NPS SCORE: 58
Average net promoter score at
31 March 2019

"Since starting with PaySauce I have
breathed a sigh of relief, someone else is
handling what had just become a
stressful and annoying part of my
business life. I am so grateful it is all
sorted...with the click of a few buttons
each fortnight."
Andy Rogers, Anroe Trust
Customer Love
"It takes the hard work out of my payroll.
No remembering to file and pay paye.
The staff are exceptional. They handle any
problem I throw at them with easy to
follow explanations, answers and really go
the extra mile."
Fiona Brown, Cows and Me Limited
"Your service is unreal."
Lachlan Baynes, Hawke’s Bay Mobile Shearing

Financials
Tod Rookes
Head of Finance

GAAP Revenue Growth
31 March 2019
80% increase from 31
March 2018
$921,568

$511,680

$130,383

Customer Growth
31 March 2019
86% increase from 31
March 2018
1,384

746

340

30 June 2019
●120% Year on year
Growth for Q2 2019
Quarterly Recurring Revenue Growth

30 June 2019
●118% Year on year
Growth for Q2 2019
Customer Growth

Metrics

Ordinary Resolutions
Andrew Barnes

Resolution A
Having retired, that Asantha
Wijeyeratne be re-elected as a Director
of PaySauce.
Asantha Wijeyeratne
Director (Non-Independent),
CEO & Co-founder

Resolution B
Having retired, that Mandy Simpson be
re-elected as a Director of PaySauce.
Mandy Simpson
Independent Non-Executive Director,
Chair of Audit & Risk Committee

That the maximum aggregate
amount of remuneration payable
by PaySauce to all Directors (in
their capacity as Directors) be
increased from $60,000 per
annum to a maximum of $125,000
(plus GST, if any) per annum, with
this sum available to be paid to
the Directors of the Company as
the Board considers appropriate.

Resolution C

That the Board is authorised to fix
the fees and expenses of Grant
Thornton as the auditor of
PaySauce.

Resolution D

Special Resolutions
Andrew Barnes

Resolution E
To amend PaySauce’s constitution in the
form and the manner described in the
Notice of Meeting Explanatory Notes, with
effect from the close of the Annual
Shareholders’ Meeting.
Special Resolution

General Business
The floor is now open to questions

Thanks for being here!

Appendix

●NPS: The net promoter score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company's products or
services to others.

●Recurring Revenue: Recurring revenue is revenue that is expected to continue into the future. For PaySauce, this is revenue directly linked to the
number of payroll customers we have.

●MRR: Monthly recurring revenue is the total recurring revenue for the month.

●QRR: Quarterly recurring revenue is the total recurring revenue for the quarter.

●ARR: Annual recurring revenue is the MRR, multiplied by 12.

●Churn: Churn is expressed as a percentage, and is calculated as the number of cancellations divided by the total number of customers.

●ARPU (monthly): Average revenue per user (monthly) is total recurring revenue, divided by the total customers processing payroll.

●Customer Acquisition Costs: Customer acquisition costs are the costs which directly related to acquiring new customers.

●Cost to Serve: Costs to serve are those costs which directly relate to servicing and retaining our customers.

●Total Customer LTV: Total customer lifetime value is the lifetime value multiplied by the total customers.
Note - the terms and metrics above are Non-Generally Accepted Accounting Principles (non-GAAP) measures and should not be viewed in isolation, not
considered substitutes for measures reported in accordance with New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS).
Definitions of Key SaaS Terms & Metrics