Plexure : 2021 – 2022 Interim Report for the Six Months Ended 30 September 2021

Interim

Report

2021 / 2022

For the six months ended 30 September 2021

02

INTERIM REPORT 2021 / 2022

03

Contents

04 Chairman's Review

06 CEO Update

08 Financial Performance

11 Consolidated Financial Statements

15 Notes to the Consolidated Financial Statements

23 Directory

INTERIM REPORT 2021 / 2022

04

Chairman's Review

The most significant milestone of the first half of the financial year, and of the Company's history to date, was the acquisition of TASK Retail Pty Limited (TASK) for A$120 million.

TASK is an Australian headquartered transaction management solutions provider specialising in the Quick Service Restaurant (QSR), hospitality, stadium, and entertainment sectors.

The Plexure and TASK businesses are highly complementary, and the merger will enable TASK's state-of-the art POS offering to be combined with Plexure's personalisation and data analytics capabilities into a fully integrated, end- to-endcloud-based solution for high- frequency, repeat purchase, enterprise level brands.

The transaction was formally closed on 1 October 2021, following approval

from 99% of the Company's voting shareholders at a Special Meeting called for that purpose. The acquisition was funded in part by a successful and over-subscribed institutional placement of A$15.0 million which was supported by both Australian and New Zealand institutions, plus an over-subscribed retail offer which raised NZ$5.2 million and was supported by existing New Zealand shareholders. Both the institutional placement and the retail offer were completed in September 2021.

Alongside the TASK acquisition, the Company rolled out its products and services into 2 new McDonald's markets,

INTERIM REPORT 2021 / 2022

now totalling 64 markets (63 countries), including a new loyalty offering, which at the end of the period was implemented in 31 McDonald's markets. The relationship with McDonald's remains strong and the Company continues

to work closely with them across the world. This support from McDonald's was evidenced by them taking their full pro-rata entitlement in the institutional placement.

During the first half, Plexure continued with its "invest for growth" strategy, in so doing incurring substantial increases in IT and personnel costs, as reflected in the Interim Results. This strategy was predicated on the Company securing a number of new customers, however, only one (Pita Pit) was closed during the period. It is hard to fully understand the impact of COVID-19 on these results, but it is clear that the pandemic has affected our customers' performance and investment decisions in different ways.

In August 2021, the Company's CEO, Craig Herbison, resigned from his role. Fortunately, the senior leadership team quickly stepped up, in particular the newly appointed executives, CFO André Gaylard, CTO Russ Bennett and Chief Strategy Officer Kathryn Byrne, all of whom joined the Company late in the half. As part of the acquisition transaction, Daniel Houden, who was formerly CEO of TASK, was appointed CEO of the combined Group. Daniel was also appointed to the Company's Board along with Bill Crichton, an experienced Australian businessman and long-term advisor to TASK.

The acquisition of TASK has accelerated the opportunity to refresh Plexure's

05

strategy, with the goal of driving towards profitable growth by leveraging the joint capability sets and customer bases and exploiting cost synergies across the combined Group. A transformation, which is being pursued at pace during the second half of FY22, is being led by Daniel Houden and the Senior Leadership Team with strong support from the Board.

The Board and Senior Leadership Team are particularly positive about the opportunities presented by the merger with TASK and are confident that, post transformation, the combined business will generate an attractive return for all shareholders.

The Board is very appreciative of the support shareholders have provided in relation to the TASK transaction and the capital raising undertaken to give effect to the merger and we look forward to your continuing support in the future.

Phil Norman

Chairman

INTERIM REPORT 2021 / 2022