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2025 INTEGRATED ANNUAL REPORT

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About Us

LEVEL UP: EXPANDING THE MAP

About this report Highlights What we do and why we do it Our purpose, vision and mission Our values system Our business model Board of Directors Operating structure Executive Committee Chairman's report Material risks and opportunities Stakeholder relations The RITE strategy

LEVEL UP: EXPANDING THE MAP

Unlocking new opportunities, expanding digital footprints

Expand our distribution channels in banking, retail and independent markets, while investigating new, primarily digital channels.

Add innovative products and services to our portfolio to increase volumes and margins in existing embedded channels.
Strategy and performance

NEW TACTICS, NEW TECH

Joint Chief Executive Officers' report Financial Director's report Ten-year review Value-added statement Operational reviews Leveraging technology Social impact: Human capital Social impact: Customer and supply chain responsibility

NEW TACTICS, NEW TECH

We’ve changed the controller. But we’re still in control.

Deliver world-class customer-centric solutions across our businesses through platform renewal, improvement, innovation and transformation.

Build and improve the competence of our offerings through digitisation and technological innovation.

Maintain agile systems to support our entrepreneurial culture and flexibility that increases our speed to market.
Corporate governance

SECURE SAFE.

Governance philosophy and approach Effective and ethical leadership Board composition, structure and report back King IV functional areas Combined assurance Governance of risk Governance of sustainability Our environmental impact Information and technology governance Compliance report Audit, Risk and Compliance Committee's report Social, Ethics and Transformation Committee's report Remuneration report

SECURE SAFE.

Capitalise on economies of scale with proven technology for accessible, always-on and trusted platforms.

Maintain a customer-centric approach.

Provide exceptional service that is intelligently tailored to the needs of and builds trust with merchants, customers and consumers.
Financial performance

GROUP ANNUAL FINANCIAL STATEMENTS
Non-IFRS information Reasonable assurance report Financial highlights Commentary Prominent notice Statement of Directors’ responsibility Approval of the financial statements Joint Chief Executive Officers and Financial Director responsibility statement on internal financial controls Declaration by the Company Secretary Directors' report Audit, Risk and Compliance Committee's report group Independent auditor's report Group income statement

Group statement of comprehensive income Group statement of financial position Group statement of changes in equity Group statement of cash flows Notes to the Group annual financial statements Annexure A: Shareholder analysis Glossary
COMPANY ANNUAL FINANCIAL STATEMENTS
Directors’ responsibilities and approval Joint Chief Executive Officers and Financial Director responsibility statement on internal financial controls Declaration by the Company Secretary Directors' report

Audit, Risk and Compliance Committee's report company Independent auditor’s report Company statement of financial position Company statement of comprehensive income Company statement of changes in equity Company statement of cash flows Notes to the Company annual financial statements Annexure to the annual financial statements General information
Shareholder info

SPEED BOOST ACTIVATED:

ESG Reporting Index Notice of virtual Annual General Meeting Form of proxy Notes to the form of proxy Glossary Administration

SPEED BOOST ACTIVATED:

Unlocking new territories, expanding digital footprints.

Expand our distribution channels in banking, retail, independent and informal markets, while investigating new, primarily digital channels.

Add innovative products and services to our portfolio to increase volumes and margins in existing embedded channels.

	Notes	2025 R'000	2024 R'000
	Notes	2025 R'000	2024 R'000
ASSETS Non-current assets		2 962 516	4 772 558
Property, plant and equipment	2	—	—
Investments in subsidiaries	3	2 940 649	2 940 649
Investments in associates and joint ventures	4	12 194	12 046
Loans to group companies	6	9 673	1 819 863
Current assets		2 114 847	3 783
Loans to group companies	6	2 112 963	—
Other receivables	7	494	473
Cash and cash equivalents	8	1 390	3 310

Total assets		5 077 363	4 776 341
EQUITY AND LIABILITIES Capital and reserves		5 036 901	4 687 449
Share capital and premium	9	7 686 524	7 686 524
Treasury shares	9	(66 621)	(48 718)
Share‑based payment reserve		295	295
Accumulated loss		(2 583 297)	(2 950 652)
Non-current liabilities
Financial guarantee contracts	11	39 060	86 844
Current liabilities
Trade and other payables	10	1 402	2 048
Total equity and liabilities		5 077 363	4 776 341