Wameja : Appendix 4D

Appendix 4D

Wameja Limited

ABN 59 052 947 743

Half-year report and appendix 4D for the half-year ended 30 June 2020

The half-year financial report does not include notes of the type normally included in an annual financial report and should be read in conjunction with the 31 December 2019 financial report.

Half-year report & Appendix 4D

for the half year ended

30 June 2020

Contents

Results for announcement to the market	1
Directors' report	2
Auditor's independence declaration	5
Independent review report	6
Directors' declaration	8
Condensed consolidated statement of profit or loss and other comprehensive income	9
Condensed consolidated statement of financial position	10
Condensed consolidated statement of changes in equity	11
Condensed consolidated statement of cash flows	12
Notes to the condensed consolidated financial statements	13

Results for announcement to the market

	Results					A$ '000
	Loss after tax from ordinary activities attributable to		down	70%	to	3,205
	members
	Loss after tax attributable to members		down	70%	to	3,205
	Dividends (distributions)			Amount per	Franked amount per
				security		security
	Current period
	Interim dividend declared			Nil ¢		0%
	Final dividend paid			Nil ¢		0%
	Previous corresponding period (i)
	Interim dividend declared			Nil ¢		0%
	Final dividend paid			Nil ¢		0%
	Record date for determining entitlements to the
		N/A
	dividend.

Brief explanation of Key Information and Dividends

The Company is partnering with Mastercard to build the HomeSend global payments hub. HomeSend enables cross-border transfer between bank accounts, cards, mobile wallets, or cash outlets from anywhere in the world. As a founding partner in the HomeSend hub, Wameja helped conceive and bring the opportunity to market. HomeSend is a joint venture of Wameja (35.68%) and Mastercard (64.32%).

The net result of the consolidated entity from continuing and discontinuing operations for the half year ended 30 June 2020 was a loss after tax and minority interest for the period of $3.205 million (2019: $10.434 million loss). Loss per share was 0.3 cents (2019: loss per share 0.9 cents).

During the period, there was a net cash outflow of $6.331 million primarily resulting from a net outflow from investing activities (mainly in relation to investment and advances to HomeSend) of $6.090 million. Cash at 30 June 2020 was $5.305 million.

Wameja Limited Half Year Report 30 June 2020

1

Directors' report

The Directors of Wameja Limited (the Company) submit herewith the financial report of Wameja Limited and its controlled entities (the Group) for the half-year ended 30 June 2020. In order to comply with the provisions of the Corporations Act 2001, the Directors report as follows:

Directors

The names of the Directors who held office during or since the end of the half year are:

John Conoley	Non-executive Chairman
James Brooke	Non-executive Director
Stephen Baldwin	Non-executive Director
James Hume	Non-executive Director
Thomas Rowe	Company Secretary and non-executive Director

Review of Operations

This report is to be read in conjunction with other reports issued contemporaneously.

Wameja Limited is a public company listed on the Australian Securities Exchange (ASX:WJA) and the London Stock Exchange (AIM) (LSE:WJA).

The Company is partnering with Mastercard to build the HomeSend global payments hub. HomeSend enables cross-border transfer between bank accounts, cards, mobile wallets, or cash outlets from anywhere in the world. As a founding partner in the HomeSend hub, Wameja helped conceive and bring the opportunity to market. HomeSend is a joint venture of Wameja (35.68%) and Mastercard (64.32%).

The net result of the consolidated entity from continuing and discontinued operations for the half year ended 30 June 2020 was a loss after tax and minority interest of $3.205 million (2019: $10.434 million loss). Loss per share was 0.3 cents (2019: loss per share 0.9 cents).

During the period, there was a net cash outflow of $6.331 million primarily resulting from a net outflow from investing activities (mainly in relation to investment and advances to HomeSend) of $5.954 million. Cash at 30 June 2020 was $5.305 million.

Subsequent events

(a) Repayment of HomeSend Liquidity Facility

The current loan facility agreement ("the Facility") provided by the Company to HomeSend had been extended from 31 March 2020 to 15 August 2020. The Facility was repaid in full on 12 August 2020.

(b) COVID-19

The outbreak of COVID-19 and the subsequent quarantine measures imposed by the Australian and other governments as well as the travel and trade restrictions imposed by Australia and other countries in early 2020 and since, have caused disruption to businesses and economic activity globally.

As the situation remains fluid (due to evolving changes in government policy and business and customer reactions thereto) as at the date these financial statements are authorised for issue, the directors of the Company considered that the financial effects of COVID-19 on the Group's consolidated financial statements cannot be reasonably estimated for future financial periods. This includes the Group's investment in the HomeSend associate.

Based on the information available to the directors as at the date of this report, there are no significant factors identified which would impact on the carrying value of the Group's investment in associate due to COVID-19. However, the directors consider that prolonged general economic impacts arising from COVID- 19 may have a negative impact on the operations of the Group's associate. This in turn may impact the recoverability of the Group's carrying value of the investment in associate going forward.

No other matter or circumstance has occurred subsequent to year end that has significantly affected, or may significantly affect, the operations of the Company, the results of those operations or the state of affairs of the entity in subsequent financial years.

Wameja Limited Half Year Report 30 June 2020

2