FY20 Financial and Strategic Overview

90% 85% 80% Progress on scale and operating efficiency Gross margin 50% 85.2% CAC as % of revenue Product costs including opex and capex as % of revenue¹ 50% 45% +1.6pp 43.6% 35% 31.4% -1.3pp +0.5pp 75% 40% 20% FY18 FY19 FY20 FY18 FY19 FY20 FY18 FY19 FY20 Both Australia and New Zealand and International segments saw positive gross margin trends Gross margin improvement powered by efficiencies in cloud hosting and other platform-related benefits which are driving further improvements to customer service quality at a lower cost Sales and marketing costs increased by 26% YOY which was lower than growth in operating revenue in FY20. This resulted in a 1.3pp improvement YOY in CAC as percentage of revenue Product investment level stabilised and will continue to support longer-term strategic priorities and related technological needs. Hubdoc and Instafile were acquired and successfully embedded into the product portfolio over FY19 and FY20 1 Net of government grants 22

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