OxPay Financial : Sustainability Report 2021

OXPAY FINANCIAL LIMITED

(Company Registration Number: 200407031R)

OxPay Financial Limited

Sustainability Report 2021

Table of Contents

Board Statement	1
About This Report	2
Corporate Profile	3
Our Sustainability Approach	4
Sustainability Governance
Stakeholder Engagement
Materiality Assessment
Prosperity and Growth	7
Economic Performance
Ethics and Governance	9
Code of Conduct
Anti-Corruption
Cyber Security
Customer Data Privacy
Our People	11
Fair Employment Practices
Training and Education
Our Environment	13
Energy Usage at OxPay
GRI Content Index	14

This sustainability report has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd.(the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This sustainability report has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this sustainability report, including the correctness of any of the statements or opinions made or reports contained in this sustainability report.

The contact person for the Sponsor is Ms. Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03, Robinson 77, Singapore 068896, telephone [phone].

Board Statement

Dear Stakeholders,

On behalf of the Board of Directors (the "Board") of OxPay Financial Limited (the "Company", and together with its subsidiaries, the "Group" or "OxPay"), we are pleased to present our inaugural Sustainability Report for the fiscal year ended 31 December 2021 ("FY2021") (the "Report"). The Report outlines the steps we have taken to manage the Economic, Environmental, Social and Governance ("EESG") factors identified to be material to the Group and our stakeholders while also setting forth our sustainability ambitions for the future.

The Board and the senior management of the Company (the "Senior Management") consider sustainability issues as part of the strategic formulation of the Group. Together with the Senior Management, the Board has played a significant role in kickstarting our sustainability transformation, incorporating sustainability into our business strategies and providing oversight over the identification, management, and monitoring of OxPay's material EESG factors.

FY2021 has been an eventful year for OxPay. In February 2021, we became the first digital payment services firm to be listed on the Catalist board of the Singapore Exchange. To signify the new direction of the Group moving forward, we also changed the Company's name from 'MC Payment Limited' to 'OxPay Financial Limited' in September of that same year.

The Group also made substantial progress in expanding our business segments on several fronts. In addition to expanding our customer base to include Thailand's first integrated food ecosystem HIVE Ventures and Malaysia's educational services industry, we have also enhanced our product and service offerings by adding more payment methods. Our efforts have culminated in a 58% increase in revenue in FY2021, as compared to the prior financial year. Given our established digital infrastructure and expanding geographical footprint, we believe that OxPay is well-positioned to capitalise on the growing market for e-commerce and digital payment services in ASEAN.

Although OxPay is at the beginning of its sustainability journey, we are fully committed to balancing revenue growth with strong and ethical governance, empowering our employees, and improving our environmental performance. With your support, we look forward to building a more sustainable future together.

Warmest Regards,
Ching Chiat Kwong	Tan Chee Keong
Non-ExecutiveNon-Independent Chairman	Managing Director

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About This Report

Reporting Scope

This Report covers the EESG strategies, initiatives, and performance of our operations in Singapore, where we are headquartered, and in our core markets, namely Malaysia and Thailand. We hold a non-controlling interest in our Indonesian affiliate and therefore will not be including their operations in the scope of this Report.

All data and activities reported herein relate to the period commencing 1 January 2021 to 31 December 2021, unless otherwise stated. Subsequent reports will be published on an annual basis, covering each financial year.

Reporting Framework

This Report has been prepared in accordance with the Global Reporting Initiatives ("GRI") Universal Standards 2021, chosen for its modular and interrelated structure that represent the global best practices for sustainability reporting. In defining the contents of this Report, we have observed the relevant GRI reporting principles, as follows:

Stakeholder

Sustainability

Materiality

Completeness

Inclusiveness

Context

Identifying key

Presenting our

Focusing on EESG

Providing precise

factors that influence

and complete

stakeholders and

performance and

our stakeholders'

information for

responding to their

impact within the

decisions and are

stakeholders to

expectations and

wider context of

relevant to our

accurately assess our

interests

sustainability

business operations

performance

This Report has also been prepared in compliance with the Rules 711A and 711B of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of the Catalist ("Catalist Rules") and all applicable provisions set out in Practice Note 7F of the Catalist Rules on sustainability reporting.

Data Assurance

We have not sought external assurance for our Report. Instead, we have relied on internal data monitoring and verification to ensure the accuracy of the information presented in this Report.

Feedback

We greatly appreciate feedback from our stakeholders on this Report and any aspect of our sustainability practices. Please direct any comments, questions, or suggestions to: [e-mail].

In line with our corporate sustainability goals, this Report has been made available in a digital format and can be found on the SGXNet and on our Company's corporate website at https://oxpayfinancial.com/downloads/.

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Corporate Profile

OxPay is an online-to-offline financial services technology provider with a fully integrated platform that allows both online and offline merchants to run and grow their businesses easily. We are principally engaged in the provision of merchant payment services ("MPS") and digital commerce enabling solutions ("DCES"), with a focus on servicing merchants in the retail, transportation, and food and beverage industries.

Merchant Payment Services

OxPay provides payment processing services through a unified platform and smart software, which are designed for merchants with physical stores, websites, or applications, enabling integration with any smart device including mobile phones, tablets, and Smart point-of-sale ("POS") terminals.

Digital Commerce Enabling Solutions

OxPay also provides ancillary services, such as the sale and lease of Smart POS terminals, proprietary and licensed software-as-a-service that can be white-labelled, and bespoke software solutions for our merchants.

With ambitions to become a regional player in the global payment space, OxPay is currently licensed to operate in four geographical markets - Singapore, Malaysia, Indonesia and Thailand.

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