#1FY23 RESULTS PRESENTATION 27 June 2023 7 WISE#2SAVED Wise customers over £1bn a year. e rest. Learn more at wise.com E180BN TO Kristo Käärmann Co-founder and CEO Σ 2#3MONEY WITHOUT BORDERS Π We're building the best way to move and manage the world's money. Making it faster, cheaper, easier and more transparent for people and businesses. 3#4~£2t+ moved cross currency annually by people 4#5~£9t+ moved annually by SMBs 5#6What customers are saying Sending money across borders > International banking + Underlying technology Traditionally slow, expensive and hard to do International bank accounts don't really exist Infrastructure has not evolved in decades What we're doing about it We've made transfers easy, fast and low cost We're building Wise Account We're creating the network the world's money needs 6#7We're building a valuable product. FY19 3.3m £27bn £179m £26m Active Volume Income Adj. EBITDA customers FY23 10.0m £105bn £964m £239m 3.0x 3.9x 5.4x 9.3x 7#85% Personal market share <1% SMB market share Source: Market size based on EDC study (2022); SMB includes small and medium sized businesses. 8#9What makes Wise a generational company? A massive problem for people and businesses We have evangelical customers We're building the network for the world's money Wise is growing fast and profitable Large addressable market Word of mouth led growth International bank accounts do not really exist Creating a valuable company 9#10EVANGELICAL CUSTOMERS 02 10#11We create virality led growth. 66% of customers join through Word of Mouth 11#12We build products customers love What customers say about their traditional options (e.g. their bank) Wise X X X X Slow Expensive Opaque Inconvenient Instant Low cost Trusted Convenient Low-friction 12#139:41 We are investing in three products Account Invite 2,163.00 4,728.16 British pounds Euro Transactions ll 9:41 See all 受 The Coffee Shop Spent 10.50 GBP 目 Transport for London Spent Spend anywhere 3.30 GBP 7 WISE 100.00 MAKE MONEY GO ROUND Fair fees. High speeds. 7WISE 9:30 TODAY ll Current Account £2,410.60 £650 left for 10 days Florist Gump Ltd Thames Water Direct Debit Kavi Dhokia Thanks for dinner! MONDAY, 17 FEBRUARY monzo £29.40 +1,427.99 29.40 +18.00 £113.44 Yard Sale Pizza 28.45 9.99 Spotify Holiday Fun Added to Pot a Amazon Home Payments Wise Account Wise Business Wise Platform 13#14It's expensive to hold money in a traditional UK current account 4.12% ON GBP 4.55% ON USD 2.71% ON EUR 14#15Read more from our Mission Updates 7WISE Personal Business 7WISE Features Pricing Help Log in Register Mission Update Q1 2023 BIG WORLD. EVEN BIGGER MISSION Read how much closer we got to our mission from January to the end of March 2023. 15#16>50% of all new customers now joining to use multiple features... >80% ...for new Brazil-based customers 16#1736% Wise Account (vs. 24% FY22) 55% Wise Business (vs. 49% FY22) 17#18Customers that use multiple features send more money 3x 2x more transactions more cross currency volume Compared with 'send' only customers 18#19And this creates true virality led growth. 66% of customers join through Word of Mouth 19#20Active customer growth is the main driver of volume growth. Growth FY19 to FY23 Personal Business Active Customers 3x 4x ↓ Volumes 3x 6x 20#21FY24: What's next? More benefits Better Experience New Features New Markets Y More customers K 21#22BUILDING A NETWORK FOR THE WORLD'S MONEY 03 Harsh Sinha Chief Technology Officer 22#23Our global infrastructure powers our proposition Price Low prices is key to why more customers switch from their existing provider Speed 55% instant >90% within 24 hours Speed is a key reason we retain customers Convenience Fast and easy onboarding; excellent customer service >90% of customers have no need to contact us 1. Instant defined as less than 20 seconds. Wise accounts Truly international account Our infrastructure enables us to offer truly global accounts to people and business, and to scale seamlessly on a global basis Wise Platform Businesses built on Wise Bank and enterprise payment and international banking solutions increasingly being built on Wise In future, could be the default for all international money movement 23#24An infrastructure that redefines what's possible. 8 - 10x cheaper than banks Faster payments Proof points What's so powerful What enables this People onboarded <1hr SMBs onboarded <24hrs Payment speeds: end to end payments in <20 seconds Full control of the end-to-end payment network One single, global, real-time view of data Machine learning volume predictions Direct connections to local payment systems Global treasury management system Machine learning financial crime prevention KYC and FinCrime engine 24#25Unmatched payment speeds. Speed •Instant •<1hr •<24hr 100% 93% 80% 60% 40% 20% Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 76% 55% Q4 FY23 25#26>700 engineers • 250 releases per day • One single global treasury system >1,300 customer service agents providing 24/7 support This will be very difficult to replicate Technology Expansions • Direct connections into 4 payment systems 70+ banking partners Mastercard/Visa card issuing partnerships Operations Regulatory 69 licenses across 45 countries 26#27>60 Wise Platform Partners *Additional customers with access to Wise services via Wise Platform partners for FY23 >25m More people have access to Wise through their Bank* 27#28Wise Platform: gaining traction globally, in multiple verticles. EQ Bank PAYFARE Brex Stanford FEDERAL CREDIT UNION Sable. ONJUNO ADVANCIAL deel. G Pay monzo o Pockit WAGESTREAM Onfolk OX Thought Machine ramp emburse The Orchard GOCARDLESS xero GLOBALIZATION PARTNERS eddy InteractiveBrokers ActivoBank- simplifice Andrews GROUPE novo BPCE N26 200 bung Bolt LIBEO temenos -YAPEAL BİRLEŞİK ÖDEME Fibabanka MAX Wio aspire Deskera Multiplier Gotrade Zalo 7 ZA Bank 신한은행 SHINHAN BANK TIGER BROKERS mandırı Prospend lji stropro PARPERA up 28#29We're building the replacement infrastructure for the world's money. Underlying technology We're building the network for the world's money International by default; enables the scaling of a global proposition Infrastructure has not evolved in decades. Allowing customers to make instant international payments at low cost 29#30What makes Wise a generational company? A massive problem exists We have evangelical customers We're building the network the world's money needs Wise is growing fast and profitable Large addressable market Word of mouth led growth International bank accounts do not really exist Creating a valuable company 30#31GROWING FAST, INVESTING, AND PROFITABLE 04 Matthew Briers Chief Financial Officer 31#32FY23 Financial Results. 10m c.£105bn £10.7bn £964m Active customers Volume Customer balances Income +34% +37% +57% +73% Comparisons FY23 vs FY22 £239m Adj. EBITDA +97% 32#33We're building a business with world class fundamentals. True customer led growth into a huge opportunity Hyper efficient growth investment economics Wise Account features powering growth and higher profitability Growing fast... ... investing for long term and highly profitable 33#34Active customer growth drives volume growth. Active customers (m) CAGR (FY19-23) Volume (£bn) 10.0 Total Volume VDV 32% 7.4 0.52 44% 125 113 CAGR (FY19-23) Thai Wamme YOY 104.5 40% 0.41 6.0 27.9 76.4 56% 745 0.30 4.7 54.4 19.5 0.19 9.4 41.7 3.3 31% 12.3 7.0 36% 0.12 27.2 8.3 76.6 5.7 56.9 4.5 4.7 42.1 33.4 3.2 22.5 FY19 FY20 FY21 FY19 FY20 FY21 FY22 FY23 FY22 FY23 Business Personal ■ Business Personal 34#35More customers join each year, and they stay with us. Volume (£bn) 104.5 24.2 76.5 18.3 54.4 41.7 16.0 80.3 27.2 14.0 58.2 10.5 38.4 27.7 16.7 FY19 FY20 FY21 FY22 FY23 ■From new customers From existing customers 1 Volume retention measured as the volume moved in a fiscal year by existing customers who joined Wise before that year, compared to the total volume moved in the preceding year. 4.5m customers joined in FY23 (+c.40% YoY) >100% volume retention (average FY19-23)1 35#36VPCs: stable long term but more volatile in the short term. VPC (£ thousand) Reduced number of larger transfers eg property purchases, investments 4.9 4.9 4.7 4.7 J 4.6 4.5 4.4 4.4 4.4 4.3 4.2, 4.1 4.1 3.9 Q1 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Notes: Average central bank rate calculated as simple average of ECB, BOE, and FED rates only; given the significant proportion of customer balances held in the respective corresponding currencies. Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 VPC rose from exceptional USD strength 、4.6 4.4 VPCs very slightly lower as we enter FY24 Q3 FY23 Q4 FY23 Q1 FY24 36#37Customer growth underpinned 51% YoY revenue growth. Revenue(£m) REGLUS 1000. 33% YOY¹ 750.0 51% YOY¹ FY23 846.1 YOY¹ 166.6 Other 109% 559.9 421.0 79.8 500.0 38.2 679.5 Cross 42% 250.0 480.1 382.8 0.0 FY21 FY22 FY23 Take rates: Cross 0.70% 0.63% 0.65% Other fees 0.07% 0.10% 0.16% Notes: 1Comparison is FY23 to FY22 and FY22 to FY21. 37#38Revenue growing across customer segments and geographies. Notes: Comparison is FY23 to FY22. Revenue by Segment and Region (£m) 846 846 FY23 YOY¹ FY23 YOY1 66 108% ROW 50% Business 190 162 60% APAC 179 53% N. America 170 37% UK 656 51% Personal FY23 270 45% Europe FY23 38#39Customer balances (£bn) 35% 1250 HoH1 16% HoH1 10.7 0000 9.2 FY23 YOY¹ Customer 1000 0000 6.8 7500 5.0 Business 54% balances continue 0000 4.4 5000 3.3 0000 to grow. 2500 4.8 5.7 Personal 61% 0000 3.5 Mar-22 Sep-22 Mar-23 Notes: 1Comparison is Mar-23 to Sep-22 and Sep-22 to Mar-22. 39#40We exit FY23 with a 2.8% gross yield; we returned 0.6% to customers. ₤m FY23 Q4 FY23 Interest income £140m £72m Customer benefits paid & £(22)m ₤(16)m interest expense Interest income net of £118m £56m customer benefits² Yield % Notes: 1Gross yield is interest income as a percentage of average customer balances in the period. 2 Interest income net of benefits on customer benefits is interest income less interest expense and benefits relating to customer balances Gross interest yield¹ Customer benefits paid & interest expense Interest income net of customer benefits² 1.6% 1 2.8% i (0.2%) (0.6%) | 1.3% 1 2.2% i 40#41Income, which includes interest, grew 73% YoY. Notes: Includes revenue and net interest income on customer balances. 2Comparison is FY23 to FY22 and FY22 to FY21. ³Interest income net of customer benefits includes interest income on customer balances, interest expense on customer balances and benefits paid relating to customer balances. 1010 Income¹ (£m) 421.6 32% YOY² 73% 964.2 YOY² FY23 YOY² 557.1 846.1 Revenue 51% 559.9 421.0 118.1 0.6 -2.8 Interest income net of customer benefits³ FY21 FY22 FY23 41#42We generated £638m of gross profit, +73% YoY. Notes: 1Comparison is FY23 to FY22 and FY22 to FY21. ²This includes Cost of sales and Net credit losses on financial assets. Gross profit (£m) Gross profit margin 62% 66% 66% Total Income 1000 750 FY23 YOY¹ 326.0 COS2 73% Gross 500 188.0 73% Profit 160.5 638.2 250 369.1 262.1 FY21 FY22 FY23 42#43Use of FY23 Gross Profit We invest a significant share of gross profit in our growth. Product Development (excl. vendors) & Marketing1 Servicing and Corporate Overhead (incl. vendors)² Notes: ¹Product Development and Marketing includes all employee related expenses allocated to Product, Engineering, Design, Banking, Compliance and Treasury and all expenses allocated to Marketing. 2 Relates to all other administrative expenses above EBITDA including Product Development vendor costs. Adjusted EBITDA 43#44How we invest Investment Marketing c. £37m, +33% YoY Product Development +33% headcount YoY1 Servicing +65% headcount YoY1 Functions +38% headcount YoY 1,2 Impact 1.5m new customers from marketing in FY23 ● High return investments: Payback < 12 months • 3m new customers from word of mouth in FY23 • New geographies and products launched • Increasingly competitive infrastructure • Onboarded 4.5m customers, +40% YoY • Improved service, helping reduce churn and drive virality • Enable us to scale globally • Improved risk management and controls Notes: Average growth in FY23 as compared to FY22. 2 Relates to core functions (i.e. Finance, Legal, People) and Marketing & Sales. 44#45We grew our team to invest in growth and service customer demand. Notes: Comparison is FY23 to FY22 and FY22 to FY21. 2Other admin expenses comprise Marketing, Technology and development, Consultancy and outsourced services, Other administrative expenses, Depreciation and amortisation, Capitalisation. Administrative expenses (£m) Total Income 54% YOY¹ 495 FY23 YOY¹ 500 47% YOY¹ Other admin 46% 400 321 200 expenses² 300 218 137 200 76 295 100 142 185 Employee benefit expenses 60% FY21 FY22 FY23 45#46Adj. EBITDA margin was higher due to significant interest income. Notes: 1Margin is adjusted EBITDA as a percentage of income. 2Comparison is FY23 to FY22 and FY22 to FY21. Adjusted EBITDA (£m) Margin 1 25.8% 21.8% 250.0 97% YOY² 12% 200.0 YOY² 150.0 100.0 50.0 108.7 121.4 24.7% 238.6 0.0 FY21 FY22 FY23 PBT £41.1m £43.9m ₤146.5m 46#47Stepping back: We're building a business with world class fundamentals True customer led growth into a huge opportunity • Highly viral customers • >100% retention Hyper efficient growth investment economics • 66% gross margin ... funds high ROI Product Development investment .. and best in class Marketing payback Wise Account features powering growth and higher profitability • >50% new customers on Wise Account • Customers more engaged ... driving up margins through interest earned 47#48Looking ahead: Time to double down Product and infrastructure Sustainably disrupt cross border pricing Use interest income to power growth with a better Wise Account proposition Continue to invest in Product Development teams and Marketing (not funded by interest) Continue to run our cross border volume at a ~20% margin, dropping prices where we can to 'extend the moat' (not funded by interest) Use of interest income: - Use up to 80% of interest to strengthen the Wise Account customer proposition - Remaining 20% of gross interest flows to EBITDA We're building a business that's not dependent on interest income Interest makes the Wise Account proposition stronger, and leads to higher profitability 48#49So how will we utilise this interest income? Flows to EBITDA resulting in higher margins 20% 80% Use interest income to power a better Wise Account proposition 49#5020% 80% So how will we utilise this interest income? Flows to EBITDA resulting in higher margins ~1ppt The first ~1ppt yield covers account feature costs and helps us avoid/reduce any account fees (e.g., subscription, domestic payout fees) 50#51So how will we utilise this interest income? 20% 80% ~1ppt Flows to EBITDA resulting in higher margins Provide Wise Account incentives: • Reward customers on their balances: live in EU, and US. Will extend to other countries but will take time • Provide account incentives: cashback on cards, discretionary fee refunds, (where we cannot pay interest) • We won't use to drop cross prices or fund general opex (avoid creating dependency) The first ~1ppt yield covers account feature costs and helps us avoid/reduce any account fees (e.g., subscription, domestic payout fees) 51 557#5220% 80% So how will we utilise this interest income? ~1ppt Flows to EBITDA resulting in higher margins Flows to EBITDA (where we cannot return this as interest per below) Provide Wise Account incentives: Reward customers on their balances: live in EU, and US. Will extend to other countries but will take time • Provide account incentives: cashback on cards, discretionary fee refunds, (where we cannot pay interest) • We won't use to drop cross prices or fund general opex (avoid creating dependency) The first ~1ppt yield covers account feature costs and helps us avoid/reduce any account fees (e.g., subscription, domestic payout fees) 52#53This interest dynamic will drive higher adjusted EBITDA margins. H2 FY23 Adjusted EBITDA margin As reported 27% with 1ppt interest yield 20% 53#54Continuing growth and profitability in FY24 28-33% YoY Income growth in FY24 Key Driver: Strong active customer growth Considerations • VPCs very slightly lower as we enter FY24; soft/uncertain macro outlook • Interest: Increasing rates, more returned to customers; EBITDA remains elevated 54#55Lapping material trends from FY23 as we move through FY24. VPC (£ thousand) 4.9 4.9 4.6 Th Cross Take Rate (% of Volume) 0.63% 0.61% 4.4 0.69% 0.67% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Gross and net interest income (£m) 71.6 00.0 30.0 46.4 15.6 2.9 40.0 18.5 56.0 20.0 3.7 1.0 43.5 17.5 0.0 -2.5 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Benefits on customer balances Interest income net of benefits on customer balances 55#56Medium-term guidance reiterated Income growth >20% (CAGR) Supported by active customer momentum into a huge market opportunity Adj. EBITDA margin at or above 20% Sustaining our levels of investment in the long-term growth Maintaining discipline on price for competitive advantage 56#57We're building a business with world class fundamentals. True customer led growth into a huge opportunity Hyper efficient growth investment economics Wise Account features powering growth and higher profitability Growing fast... ... investing for long-term ... and highly profitable 57#58SAVED Wise customers over £1bn a year. e rest. Learn more at wise.com E180BN TO Kristo Käärmann Co-founder and CEO Σ 58#59FY24: What's next? More benefits Better Experience New Features New Markets Y More customers K 59#60What makes Wise a generational company? A massive problem exists We have evangelical customers We're building the network the world's money needs Wise is growing fast and profitable Large addressable market Word of mouth led growth International bank accounts do not really exist Creating a valuable company 60#61Q&A 61#62Π 62