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Investor Presentaiton

EML Payments H1 FY2022 Financial Results Financial Position ($'000s) 30 June 31 December 2021 2021 CARDHOLDER GROWTH ASSETS/ LIABILITIES Cash and cash equivalents 141,228 86,175 (39%) Contract asset 16,363 19,061 16% Segregated funds and Bond investments. 1,409,552 1,918,573 36% 1,918,353 Other current assets 36,368 55,477 53% TOTAL CURRENT ASSETS 1,603,511 2,079,286 30% 1,918,353 Contract assets 10,219 10,962 7% Plant, equipment and right of use assets 11,245 10,015 (11%) 55,477 160,933 10,962 10,015 Intangibles 350,133 471,044 35% 471,044 Deferred tax asset 21,453 22,621 5% 22,621 Segregated funds and Bond investments 274,024 147,777 (46%) 144.665 Other non current assets 18,193 25,105 38% 3,112 24,747 TOTAL NON CURRENT ASSETS 685,267 687,524 0% 144,665 542,859 TOTAL ASSETS 2,288,778 2,766,810 21% 2,063,018 703,792 Trade and other payables (62,868) (64,339) 2% (64,339) Liabilities to stored value account holders (1,705,957) (2,063,018) 21% (2,063,018) Contingent consideration [863] (15,233) 1665% (15,233) Interest bearing borrowings (1,385) (1,305) (6%) (1,305) Provisions (10,801) (19,669) 82% (19,669) Other current liabilities (10,918) (12,506) 15% (12,506) TOTAL CURRENT LIABILITIES (1,792,792) (2,176,070) 21% (2,063,018) (113,052) Deferred tax liabilities (14,276) (19,924) 40% (19,924) Contingent consideration (14,280) (26,119) 83% (26,119) Interest bearing borrowings (36,860) (84,675) 130% (84,675) Other non current liabilities (15,675) (17,452) 11% (17,452) TOTAL NON CURRENT LIABILITIES (81,091) (148,170) 83% (148,170) TOTAL LIABILITIES (1,873,883) (2,324,240) 24% (2,063,018) (261,222) TOTAL EQUITY 414,895 442,570 7% 442,570 32 CORPORATE BALANCE SHEET 86,175 19,061 220 Cash on hand of $86.2m. Cash reduced during the period as EML paid $27.8m into the UK cardholder float in August 2021. This is expected to expire and return to cash between 2022 and 2028. The Sentenial acquisiton was also partly funded by EML cash reserves of $16.3m. Trade Receivables balances were higher in H1 FY2022 as the delayed receipt of two customer receivable balances totalling $8.6m which will be collected in H2 FY2022. Contract asset increased $3.3m in the period as the G&l segment volumes rebounded from COVID impacts on prior years. Segregated funds include low risk bond investments and cash held at financial institutions. The reduction in the non-current asset balance represents the reduction in the maturity profile of the Group's bond portfolio. EML continued to invest in internally generated software (Intangibles) of $4.9m which offset $5.7m of amortisation in the period. Contingent consideration increased during the period following the acquisition of the Sentenial Group.
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