Announcement PDF Investor Presentation 26 March 2025 Wrkr Ltd ASX: WRK Authorised by: Trent Lund Chief Executive Officer trent.lund@wrkr.com.au Wrkr Ltd ACN 611 202 414 Level 3, Suite 1, 104 Commonwealth Street Surry Hills NSW 2010 Who is Wrkr Ltd Entity: Wrkr Ltd Market Cap: ~$92.02m* Web: www.wrkr.com.au ASX: WRK CEO: Trent Lund (Director) CFO: Karen Gilmour Board: Emma Dobson (Chair) Paul Collins Jillian McGregor (CoSec) Office: 104 Commonwealth Street, Surry Hills, Sydney 2010 Share Price: $0.53* Top 50 Shareholders: ~84% *As posted on ASX as at C.O.B 24/03/2025 Staff: 51 Locations: Sydney, Melbourne, Adelaide, Brisbane, Perth, Newcastle Wrkr At Wrkr our purpose is to make compliance effortless, so businesses and employees can thrive. We aim to do this by streamlining the journey from onboarding to receiving pay and benefits. Our mission is to ensure that each individual meets their compliance obligations seamlessly, gets paid accurately and on time, and has straightforward access to their benefits. Our mission begins with Superannuation and pay. Wrkr 101 At our core, Wrkr processes, reconciles & moves money, messages and credentials to underpin wage & super contributions and new employees onboarding… with a great user experience. Inputs to pay & onboarding Employers Employers Banks HR Systems Payroll Employees Benefit Suppliers Advisors & Accountants Receiving entities Employer Accounts SMSF Accounts Super Funds ATO Superstream ATO STP Disbursement Accounts Credential Providers The Australian market for Wrkr PAY & READY Our compliance services meet the regulated requirements for the entire market and our partnering model is seeing strong adoption processing over AU$3.98B annually ~1m ~22m ~500m >300 ~620k ~500m ~15m ~160m 111 Employers Payroll companies Employees Super fund members/accounts SMSF Accounts Super payments (moving to ~500m in Payday Super) Wage payments STP events APRA regulated Super Funds >6 members Compliance complexity is on the rise The standards for a service provider are substantial and create a barrier to entry. Wrkr holds several key licenses and meets ongoing attestation of licenses and standards to be a trusted provider. Focus on employer accountability is increasing Compliance requirements are increasing CDR / PII Data management is increasing complication Payments simplification E.g Super Stapling E.g. balancing storage and evidence E.g Super Guarantee changes, STP2 & sham contracting E.g BECS / NPP Data demand is driving increased frequency and detail E.g PayDay Super, STP2+, ABS, Diversity Shift in enforcement E.g Closing loopholes legislation with Unions and ‘Wage Theft agenda’ Business model (how do we grow) Software as a Service and Transactions Wrkr has invested significantly in bringing all products together as a consolidated SaaS offering to Super Funds, HRIS Platforms or direct to Employers. FY24-25 and early 26 is heavily oriented towards Super Fund onboarding. Services Revenue Recurring Revenue Channel onboarding, Customisation, Licenses & Support Licenses per user Time & Material / Fixed and variable. ● Configuration and branding for white label platform users. ● Customer extensions and integrations. Volume based pricing per annum. License fees are charged per user for individuals registered and maintained. >500k* SaaS Direct Users $7 ARPU Target $1.60 – $96 ARPU range Transaction Fees Transactions are charged monthly for the processing of payments and submission of ATO messages. Compliance Process Fees Charges are applied for each compliance event where credentials are verified. * Number of Australians Wrkr is currently processing compliance moments for. Growth in our base today underpins long term upside The Wrkr channel partnerships enable Wrkr to introduce our full compliance offerings 01 Reach many Wrkrs 02 Deliver on more compliance moments 03 Create shared value for Wrkrs Prioritise organisations with the greatest reach: 1. Super Funds 2. Payroll Providers 3. Large Employers Focus product development on being the one stop shop for compliance: 1. Expand directly to businesses beyond Super contributions 2. Automate complex ongoing compliance moments 3. Solve priority industry compliance needs Leverage data and volume of Wrkrs to create new value and benefits: 1. Enable benefit provider partners 2. Create new benefits packages 3. Enable tax compliant benefit consumption Partnering with MUFG Retirement Solutions is fueling our growth Super Funds and HRIS partners represent our largest growth prospects in Australia and beyond Referrals to ~7m members and >300k businesses New pension capability puts numerous geographies in play MUFG Retirement Solutions partnership, platform and integration complete and available in many brands with deep integration to Aaspire™ and support. Geographic expansion to Hong Kong territory and creation of a full pension model relevant to other international jurisdictions. Making our services available through an API provides an opportunity for a multiplier effect HRIS partners represent a connection to the Businesses and users that are not serviced by the Funds or are co-served by the Funds Onboarding compliance through integration to HRIS – your system UI and customer, Wrkr’s compliance heavy lifting API Partner Program gaining momentum with go-to-market solutions with KPMG and Workday bringing a qualified pipeline of enterprises using Workday in Australia. We are innovating toward a ‘One Stop Shop’ for employer to employee compliance Investment in Security and Fraud detection ● Employer READY set up to support KYC and multiple pay types ● Fraud detection integration (Transmit Security) ● API enablement of all services for secure digital access Investments in Fund and Employer branded experiences ● White labelled onboarding and verification solution ● Capture super choice and stapling compliance moments digitally ● Verify employee details to improve data quality ● Live compliance status dashboards Investments in error handling ● Payday Super reconciliation ● Payday Super error detection and remediation Example application home screen Strong financial management 1H25 v 1H24 Financial Highlights ● ● ● Revenue $4.88m EBITDA ($0.41m) ARR $6.70m 26% $3.88m 22% ($0.53m) 9% $6.16m Operating Cash flows ($0.48m) Cash Receipts from Customers $4.20m Cost to Income Ratio 0.94 174% $0.22m 37% $3.07m 23% 1.23 ARR is calculated using the Q2 average ARR to account for quarterly activity cycles. Float interest is included in the calculation as an operating revenue. 12 mth rolling cost to income ratio excludes non-operating interest, depreciation & amortisation, cost of employee share schemes, costs relating to changes in share capital, impairment of patents, convertible note costs, and the fair value movement of the convertible notes embedded derivative. EBITDA represents profit adjusted for depreciation, amortisation, non-operating interest revenue, finance costs, capital raise costs, the fair value movement on embedded derivatives and tax expenses Wrkr is well positioned for growth Market Activity In FY24, and continuing into FY25, the Wrkr Management team have balanced tight cost controls while continuing to advance the platform, market position and develop the revenue pipeline. $8 ARPU today 1 Balance as at 31 December 2024 Growing compliance moment library Payday Super Ready 3.5X Critical licences: ATO, Superstream, GNGB, AFSL Enhanced fraud prevention capability Top Talent On shore 51 people Informing Industry Standards Geographic expansion into Hong Kong MUFG Retirement Solutions Industry Solution $7.2m Cash at bank1 New HRIS integrations like Workday APIs Executive & Leadership Team Karen Gilmour Con Lambropoulos Joe Brasacchio Jean-Paul Seow Greg Tonner CFO COO and Head of Delivery CTO (Comply Path Founder) Head of Commercial and Alliances Head of Growth Karen has over 15 years experience in senior finance management positions across banking & finance, commodities and construction across Australia and UK. Con brings over 30 years of leadership experience in operational delivery and business transformation across multiple industries. He is focused on driving efficiency and aligning operations to support Wrkr’s strategic goals. Joe has over 20 years of experience in leading high profile digital transformations, co-design in open Data Standards development, building RegTech platforms and venturing. Jean-Paul has over 15 years experience covering commercial, strategy and venturing. Worked across FS, Telco, Retail and Postal industries across AU, Asia and US. Greg is a strong leader with over 25 years in executing growth strategies in the software and technology sectors across Asia and the UK. Greg was CEO and led the transformation of the Queensland Cowboys. Board Emma Dobson Paul Collins Jillian McGregor Trent Lund Non-Executive Chair Non-Executive Director Company Secretary CEO and Managing Director Trent has over 25 years experience in technology and innovation. Trent is also CEO of Unlocked Ventures and holds numerous advisory board roles in technology & business. Summary information Financial data This presentation contains summary information about Wrkr Ltd (Company) (ASX: WRK) and its activities as at the date of the presentation. The information in this presentation is of a general nature and does not purport to be complete or contain all information that a prospective investor should consider when evaluating an investment decision in the Company or that would be required in a prospectus or product disclosure statement prepared in accordance with the requirements of the Corporations Act 2001 (Cth) (Corporations Act). This presentation should be read in conjunction with the Company's other periodic news releases or ASX disclosure documents as available from time to time. All financial information in this presentation is in Australian dollars ($ or AUD) unless otherwise stated. Investors should note that this presentation may contain pro forma historical and forward looking financial information. The pro forma and forward looking financial information and the historical information, provided in this presentation is for illustrative purposes only and is not represented as being indicative of the Company’s views on its future financial condition and/or performance. Forward looking statements This presentation contains forward-looking statements and information that are necessarily subject to risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements of the Company to be materially different from those expressed or implied in this release including, amongst others, changes in general economic and business conditions, regulatory environment, results of advertising and sales activities, competition, and the availability of resources. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this presentation. Except as required by law, the Company assumes no obligation to update or correct the information in this presentation. To the maximum extent permitted by law, the Company and its subsidiaries and officers do not make any representation or warranty as to the likelihood of fulfilment of any forward-looking statements and disclaim responsibility and liability for any forward-looking statements or other information in this presentation. Not an offer of securities or financial products This presentation is not a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law. This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities or any financial product nor does it constitute financial product or investment advice nor take into account your investment objectives, taxation situation, financial situation or needs. An investor must not act on the basis of any matter contained in this presentation but must make its own assessment of the Company and conduct its own investigations and analysis. Before making an investment in the Company, a prospective investor should consider whether such an investment is appropriate to their particular investment objectives and financial situation and seek appropriate advice, including legal, taxation and financial advice appropriate to their jurisdiction and circumstances. The pro forma financial information has been prepared by the Company in accordance with the recognition and measurement principles of Australian Accounting Standards (AAS) and the Company’s adopted accounting policies of applicable accounting standards and other mandatory reporting requirements in Australia. Investors should also note that any pro forma financial information does not purport to be in compliance with Article 11 of Regulation S-X of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Such information does not purport to comply with Article 3-05 of Regulation S-X. Investors should be aware that certain financial measures included in this presentation are ‘non-IFRS financial information’ under ASIC Regulatory Guide 230: ‘Disclosing non-IFRS financial information’ published by ASIC and also ‘non-GAAP financial measures’ within the meaning of Regulation G under the U.S. Securities Exchange Act of 1934, as amended, and are not recognised under AAS and International Financial Reporting Standards (IFRS). The non-IFRS financial information / non-GAAP financial measures include EBITDA and EBIT. The Company believes the non-IFRS financial information / non-GAAP measures provide useful information to users in measuring the financial performance and conditions of the Company. The non-IFRS financial information / non-GAAP financial measures do not have a standardised meaning prescribed by AAS or IFRS. Therefore, the non-IFRS financial information is not a measure of financial performance, liquidity or value under the IFRS and may not be comparable to similarly titled measures presented by other entities, and should not be construed as an alternative to other financial measures determined in accordance with AAS or IFRS. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS financial information / non-GAAP financial measures included in this presentation. Thank you & Questions ASX: WRK wrkr.com.au