Investor Presentaiton

Regulatory constraints Payments AML/CFT to be updated for FATF 2012 requirements in inclusive • National payments needed to ensure fair access, certainty and improve interoperability More comprehensive e-Money framework needed, including equal access to telecoms and payments platforms for MNOS and financial service providers. Status of trust accounts unclear, possible attachment by creditors. Prudential requirements not in line with the proportionately low risk; barrier to competition Simplified CCD allowed for single transactions<$10k, but not accounts FATF 2012 poses risk of exclusion if not implemented with care, effective guidelines key

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