Wisr : WZR Delivers $17.6M Revenue for QF4FY22

ASX RELEASE

For personal use only

WZR Delivers $17.6M Revenue for Q4FY22

Prime loan book grows 106% on pcp to $780M

Sydney, 29 July 2022 - Wisr Limited (ASX: WZR) (ACN 004 661 205) ("Wisr", or the "Company") is pleased to provide the Quarterly Activities Report for the quarter ending 30 June 2022 (Q4FY22).

The Company's unbroken track record of 24 quarters of prime-creditloan origination growth continued by attracting high- quality borrowers as customers with an average credit score of 801, delivering prime, low-risk, profitable and safe growth against current market conditions.

Q4FY22 Highlights:

• June settlement for $250M priced second ABS, with a weighted average margin of 2.23% over one-month BBSW, freeing up $250M capacity in $450M warehouse (WH1)
• To ensure we maintain and protect margin and profitability, in response to the realised and predicted increase in Cost of Funds (COF), the Company has been lifting loan rates consistently through Q4FY22. These pricing changes have already delivered a 130bps lift in the weighted average yield of new loans written in July compared to April 2022. As we predict further increases in our COF, front book yield will continue to lift to protect our margins.
• Quarterly Revenue up to $17.6M1, an 81% increase on Q4FY21 ($9.7M) and a 13% increase on Q3FY22 ($15.5M)
• Q4FY22 loan originations of $186M, a 51% increase on Q4FY21 ($123M) and an 18% increase on Q3FY22 ($158M)
• Secured vehicle loans (SVL): $86M originations for the quarter, a 139% increase on Q4FY21 ($36M)
• $1.2B in total loan originations as at 30 June 2022, 100% growth from pcp Q4FY21 ($611M)
• Wholly-ownedprime loan book (warehouse, securitised and balance sheet) now $780M, an increase of 106% on pcp (Q4FY21 $379M), with arrears at 0.98% and average credit score of 801
• Well capitalised with a cash balance of $71.5M, including $23.3M unrestricted cash; in addition, there were $8.2M liquid loan assets available for sale as at 30 June 2022
• Wisr Financial Wellness Platform passing 647K profiles (43% growth on pcp), with 45K+ profiles added in Q4FY22
• While remaining cognisant of current market conditions, Wisr is focused on delivering both profitability in the short-term and sustainable long-term profitability. Wisr has the resources and capability in place to achieve this, including a strong cash-balance sheet, rate and pricing levers and reductions in operating costs being put in place for FY23.

1 Revenue unaudited

Wisr Limited ACN 004 661 205

55 Harrington Street, The Rocks NSW 2000

1

For personal use only

The effect of rising COF:

Since the inception of warehouse funding facilities in November 2019, Wisr has hedged the floating component of its COF, the BBSW. Between January 2022 and July 2022, the blended hedged BBSW cost increased by 93 basis points. In response, Wisr has increased the front book origination weighted average yield by 130 points between April and July 2022. Wisr will continue to lift yield and pricing in the market to protect profitability and Net Interest Margin (NIM), ensuring we remain the lender of choice outside the Big 4 Banks in Australia for personal loans.

CEO COMMENTARY:

Mr Anthony Nantes, Chief Executive Officer, Wisr, said, "Despite current conditions, we've delivered a record $186M in new loans; continued our unbroken 24 quarters of loan growth; grown revenue by 81%; grown our loan book by 106% with an average prime 801 credit score; originated credit assets of the highest quality; priced our second ABS deal - receiving significant support from the debt market; and maintained a strong balance sheet."

"We have our sights set firmly on moving through breakeven and into sustainable profitability as our next goal. Our credit decisions and products are prime-skewed to bank-grade customers. As we did in COVID, we're well prepared to navigate market conditions with early warning indicators already in place to respond quickly and tighten credit while also investing in our collection processes. We're in a solid position to absorb BBSW increases while still earning a very healthy NIM with multiple levers available, including raising interest rates on new loans, in line with Wisr's credit risk appetite, which we have been doing throughout the quarter."

"Wisr has never been better positioned to accelerate our operating leverage and scale. As consumers demand fairer financial products and services due to cost-of-living pressures and a rising rate cycle, Wisr is well-placed and well-resourced

Wisr Limited ACN 004 661 205

55 Harrington Street, The Rocks NSW 2000

2

to meet the demand. We're well-capitalised and building sustainable revenue. Reductions in operating costs are being put in place as we enter FY23 and surpass our near-term target of a $1B wholly-owned loan book and delivering a highly profitable business in the medium term." finished Mr Nantes.

For personal use only

Despite market conditions, Q4FY22 loan originations of $186M represented a 51% increase on Q4FY21 ($123M) and an 18% increase on Q3FY22 ($158M). The quarter continued the Company's unbroken track record of 24 quarters of prime-credit growth.

Funding, Capital and Risk

• Strongly capitalised with $23.3M in unrestricted cash and $8.2M in liquid loan assets as at 30 June 2022
• Wisr's wholly-owned loan book (warehouse, securitised and balance sheet) is now $780M, an increase of 106% on pcp
• $250M priced ABS (second for Wisr) settled on 20 June, 61% (top tranche) being AAA-rated
• Systems and data early warning indicators are already in place to respond very quickly via tightened credit parameters while also investing in collections
• Proprietary credit score Wisr Score is optimising Wisr's customer risk-adjusted return to increase the addressable market up and down the credit spectrum throughout the year

Wisr Limited ACN 004 661 205

55 Harrington Street, The Rocks NSW 2000

3

For personal use only

Wisr is well-placed to continue its strong growth in loan originations in FY23 and surpass its short-term $1B wholly-owned loan book target, with a longer-term target of $3B. Both Wisr funding facilities have increased capacity. WH2 increased to $300M from $225M, WH1 increased to $450M from $350M, and the priced second ABS term deal (Wisr Freedom Trust 2022-1) frees up $250M of capacity in WH1. There will be a further increase of the SVL WH2 capacity and a potential ABS term deal of SVL assets in the first half of FY23.

Strong Credit Performance

On-balance sheet portfolio 90+ Day arrears 0.98% as at 30 June 2022.

Writing prime quality credit and attracting Australia's best customers, Wisr's prime loan book, backed by National Australia Bank and tier one credit fund investors, including IFM, MA Financial and Revolution Asset Management, boasts industry- leading margins with on-balance sheet 90+ day arrears at 0.98% as at 30 June 2022.

Wisr Financial Wellness Platform

The Wisr Financial Wellness Platform continued to grow with more than 45K new profiles created in Q4FY22, taking the total to over 647K profiles at quarter-end. The Wisr App has now paid off $4M in debt through roundups and repayment boosters.

Wisr Limited ACN 004 661 205

55 Harrington Street, The Rocks NSW 2000

4

For personal use only

APPENDIX 4C QUARTERLY ACTIVITY REPORT COMMENTARY:

Wisr continues its path to profitability, with $17.6M in operating revenue, an 81% increase on Q4FY21 ($9.7M) and a 13% increase on Q3FY22

($15.5M).

Cash EBTDA of $(2.3)M for Q4FY22 (Q3FY22: $(0.9)M) was driven by a combination of yield compression due to SVL scale,

higher funding costs and an increase in opex. Mitigants are in place to manage these items, including increased yield on front book loan originations, continued hedging and opex reduction initiatives in FY23.

Per item 1.10, net cash from operating activities for Q4FY22 was $(0.5)M (Q3FY22: $1.4M), driven by the yield, funding cost and opex dynamic described above, all of which are being tightly managed.

Per item 5.1, unrestricted cash at the end of Q4FY22 was $23.3M. In addition, there were $8.2M of loans on-balance sheet available for sale as at 30 June 2022.

Item 6.1 relates to salary payments to the Board of Directors.

-ends-

This announcement has been approved in accordance with the Company's Continuous Disclosure Policy and authorised for release by the Board of Directors.

For further investor enquiries, please contact:

Vanessa Chidrawi

Company Secretary

E: [e-mail]

About Wisr Limited

Wisr (ASX: WZR) is Australia's first neo-lender with a commitment to the financial wellness of all Australians through providing a smarter, fairer and wiser collection of financial products and services. Wisr provides a unique Financial Wellness Platform underpinned by consumer finance products, the Wisr App to help Australians pay down debt, multiple credit score comparison service, combined with content and other products that use technology to provide better outcomes for borrowers, investors and everyday Australians.

For more information, visit www.wisr.com.au

Wisr Limited ACN 004 661 205

55 Harrington Street, The Rocks NSW 2000

5