Appointment of Chris Ridd as Australian Executive Director

Chris Ridd to lead PaySauce’s growth
in Australia
Lower Hutt, New Zealand – 5 November 2025

Software-as-a-Service fintech PaySauce (NZX: PYS) is delighted to announce it has
recruited highly regarded tech executive Chris Ridd as an Executive Director of its
fledgling Australian operation.

Chris is a former Managing Director for Xero Australia and is known for leading the
company’s expansion in the Australian market from a small startup to become the
country’s largest online cloud accounting software company, Over his five-year
leadership of Xero Australia he grew the company from seven staff and 4,500
customers, to nearly 300 staff and 320,000 customers.

Chris will join PaySauce to focus initially on it becoming the leading payroll
provider for the 4,000 plus dairy farms in Australia, repeating the company’s strong
market position with dairy farmers in New Zealand. In the long term, the company
expects to broaden its focus to over 700,000 Australian micro-businesses, who can
benefit from using PaySauce as the compliant, stress-free way to handle their
payroll needs.

Chris has 30 years’ experience in the IT industry including five years at Xero
Australia and 15 years at Microsoft in various senior executive roles. In 2015 he was
awarded The CEO Magazine’s Financial Services Executive of the Year & Runner Up
in Managing Director of the Year.

He has also served as a Non-Executive Director, Advisor and Investor and Executive
in various fast-growth, Australian companies including EventsAir, Board Pro,
Compass Education, and MyProsperity, among others.

Chris is currently an Operating Partner with Macquarie Asset Management,
providing strategic guidance and expertise to enhance the performance of their
key digital portfolio companies and will continue in that role while supporting
PaySauce.

PaySauce CEO and Co-founder Asantha Wijeyeratne said: “We are delighted Chris
has agreed to join PaySauce. He brings to the company a passion for helping fast
growing companies to achieve their potential, a record of success — and a deep
understanding of what is required — to take a New Zealand company from a start
up to being a trans-Tasman leader. We are looking forward to working with him.”

Chris Ridd said: “I am excited to join PaySauce as it takes this important next step
into Australia. The team has built a strong, trusted business in New Zealand, and
the new Gen 2 payroll engine gives us a great platform for growth.

“There’s real opportunity here — Australian micro-businesses are underserved by
existing payroll providers, and face multiple and complex, time-consuming payroll
systems and complex awards to complete their pay runs.

“PaySauce is well placed to change that with a simpler, smarter solution designed
for small employers. Success in Australia will not only mean supporting these
businesses but also accelerating PaySauce’s next phase of growth, and I am
looking forward to helping the company realise that potential.”

Chris Ridd takes up his new role at PaySauce immediately. Chris has agreed to be
remunerated in PaySauce equity via an issue of Restricted Share Units which vest
over a two-year period. A capital change notice detailing this allotment
accompanies this announcement.

Released for and on behalf of PaySauce by PaySauce CFO Jaime Monaghan


ENDS

ABOUT PAYSAUCE
PaySauce is a SaaS fintech platform delivering digital payroll solutions across 14
jurisdictions in Asia-Pacific. The technology enables small employers to digitally
onboard, pay and manage employees from any device. The platform includes
rosters, mobile timesheets, payroll calculations, banking integration, automated
payments, PAYE filing, labour costing, and automated general ledger entries. The
PayNow feature enables customers’ employees to access the pay they’ve earned
before payday, providing a free alternative to payday lenders. www.paysauce.com

CONTACT

Asantha Wijeyeratne
CEO PaySauce
+64 21 554 600
Please direct any investment queries to investor@paysauce.com

---

Capital Change Notice
Updated as at February 2025

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A. Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

Section 1: Issuer information
Name of issuer PaySauce Limited
NZX ticker code PYS
Class of financial product Unquoted Restricted Share Units (RSUs)
ISIN (If unknown, check on NZX website) N/A
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 1,500,000 RSUs
Nominal value (if any) N/A
Issue/acquisition/redemption price per security The RSUs were issued at a value of
$0.2576 each, being the Average Market
Price immediately preceding their date of
issue. No cash consideration is required
to be paid for the RSUs to convert to
ordinary shares in PYS.
Nature of the payment (for example, cash or other
consideration)
Non-cash consideration for Chris Ridd
agreeing to provide services to PaySauce
under a Contract for Services.
Amount paid up (if not in full) N/A
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the
number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
1

100%
For an issue of Convertible Financial Products or
Options, the principal terms of Conversion (for
example the Conversion price and Conversion
date and the ranking of the Financial Product in
relation to other Classes of Financial Product) or
the Option (for example, the exercise price and
exercise date)
Exercise: On the vesting and conversion
of the RSUs, PYS will issue one ordinary
share in PYS (Ordinary Share) for every
one RSU that vests.
Exercise Price: The exercise price for a
RSU is nil.
Ranking: Any Ordinary Shares issued on
the exercise of the RSUs will rank equally
with all other Ordinary Shares on issue.
Vesting and Conversion Dates: 46,975
RSUs vest each month for which Chris
Ridd provides services to PYS.
187,500 RSUs will vest annually for each
year Chris Ridd provides services to PYS.
1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Conditions: The 187,500 RSUs to vest
annually are subject to performance
hurdles as set out in Chris Ridd’s
individual letter of invitation.
Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
As consideration for services to be
provided and authorised by Board
Resolution.
Total number of Financial Products of the Class
after the issue/acquisition/redemption/Conversion
(excluding Treasury Stock) and the total number of
Financial Products of the Class held as Treasury
Stock after the issue/acquisition/redemption.
1,500,000
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Board Resolution and NZX Listing Rule
4.6.1
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
As set out above.
Date of issue/acquisition/redemption
2

05/11/2025
Section 4: Authority for this announcement and contact person
Name of person authorised to make this
announcement
Jaime Monaghan
Contact person for this announcement Jaime Monaghan
Contact phone number +64 22 5246366
Contact email address jaime@paysauce.com
Date of release through MAP 05/11/2025



2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).