Announcement PDF ANNUAL REPORT 2024 WISR LIMITED • ANNUAL ANNUAL REPORT REPORT2024 2024 Wisr is purposebuilt to support our customers’ financial wellness. Our award-winning platform combines lending with financial tools to help Australians make smarter money decisions. 1 WISR LIMITED • ANNUAL ANNUAL REPORT REPORT2024 2024 2 CONTENTS Chair & CEO’s review 4 Our competitive advantage 6 Wisr in FY24 8 • FY24 key results 10 Return to growth 12 • New corporate facility supports pivot to growth 14 • Financial metrics 15 Financial highlights 16 • NIM 18 • Credit quality 19 • Funding program 20 • Capital position 21 Wisr in FY25 22 Executive Leadership Team 24 Board of Directors 26 Financial report 28 • Directors’ report 29 • Auditor’s independence declaration 58 • Consolidated statement of profit or loss and other comprehensive income 59 • Consolidated statement of financial position 60 • Consolidated statement of changes in equity 61 • Consolidated statement of cash flows 62 • Notes to the financial statements 63 • Consolidated entity disclosure statement 97 Directors’ declaration 98 Independent auditor’s report 99 ASX additional information 103 Corporate directory 106 3 WISR LIMITED • ANNUAL ANNUAL REPORT REPORT2024 2024 CHAIR & CEO’S REVIEW Dear Shareholders, With a focus on returning to growth, Wisr took decisive actions in FY24 to support its long-term goals. Headlined by a $50M corporate facility from global financial services company Nomura, secured in May 2024, Wisr made strategic decisions to position itself for sustainable growth. Our focus on strengthening our balance sheet and prudently managing costs enabled our pivot back to growth in late Q4FY24. Notably, following the execution of the facility, there was a clear shift to growth with Q4FY24 loan originations growing by 30% on Q3FY24 (pro forma). Our effective cost management strategy was evident as Wisr achieved a 19% reduction in operating expenses year-on-year despite the inflationary environment. It is important to recognise that the business operated under moderated loan volume settings for the majority of the year. During this period, Wisr focused on key initiatives to serve its customers and position itself effectively ahead of the macroeconomic environment becoming more conducive to growth. These initiatives included a focus on improving loan unit economics, uplifting Wisr’s technical capabilities to improve collections strategies and broker experience as well as the functionality of the Wisr App. Company culture was another key priority for Wisr in FY24. We made a number of leadership changes to support the business in achieving its long-term objectives including elevating Joanne Edwards to Chief Operating Officer and welcoming Matthew Lewis as our Chief Financial Officer. In addition, an initiative called Wisr 2.0 was undertaken in FY24 to ensure internal cultural alignment. This project included an independent cultural review, a reset of company values and a comprehensive policy review. The initiative was successful with Wisr’s employee engagement score increasing from 68% to 79% in H2FY24. 4 Our customers remained at the forefront of our efforts as we introduced new features like Debt Bustr, which allows Australians to consolidate and simplify their personal debt with Wisr. Other features on the Wisr App continue to be popular and well-utilised by our customers, delivering tangible results including $26.4M in extra loan repayments and $9.0M in round ups on customer debt. Wisr remains a purpose-built business and our purpose is even more relevant given the challenging, inflationary environment currently impacting many Australians. External factors, including several cash rate increases and the rising cost of living, affected many in FY24. Wisr diligently ensured that our customers and their financial wellbeing remained our priority. Our performance in FY24 demonstrates Wisr’s long-term strategy to continue supporting more Australians on their financial journeys. Pleasingly, we have already started to see the early benefits of our prudent decision-making as the business commenced its return to growth in late Q4FY24. These positive results highlight the strength of our business model, prime loan book, proprietary technology and the capability of the Wisr team to deliver strong growth in FY25. FY25 OUTLOOK We are entering FY25 laser-focused on achieving the goals outlined in our FY24 financial results. As a business, Wisr is wellcapitalised and equipped with the technology, high-quality loan portfolio, robust risk and operational frameworks and experienced Executive Leadership Team required to support our customers. FY25 marks an exciting new phase for the Wisr team. Having successfully resumed growth in late FY24, FY25 will see this focus continue along with the path to profitability and a self-sustaining capital position. The momentum from the end of FY24 carried forward into FY25, resulting in increased application flow, greater loan origination volume and larger average loan sizes. We’ve set goals for FY25 across four key pillars: • Growing Wisr’s loan portfolio, driven by a significant increase in loan originations; • Prioritising the pathway to profitability without the need for additional equity capital by focusing on loan volume growth at attractive unit economics, maintaining high credit quality and disciplined cost control; • Continuing to strengthen and grow Wisr’s existing distribution channels while maintaining our focus on market-leading user experience and excellent service and, • Deepening relationships with our customers by engaging, educating and supporting them on their financial journeys through the award-winning Wisr App. These objectives are designed to support even more Australians in accessing and managing credit, helping them to achieve their financial and personal goals both now and over the long-term. On behalf of the Wisr Board and the Executive Leadership Team, we extend our thanks to our shareholders for their ongoing support and to the wider Wisr team for their dedication and hard work in FY24. Matthew Brown Andrew Goodwin Chair CEO 5 WISR LIMITED • ANNUAL ANNUAL REPORT REPORT2024 2024 OUR COMPETITIVE ADVANTAGE 6 Wisr is purpose-built and focused on experiences that support the long-term financial wellness of our customers. As a scalable, well–capitalised company, Wisr sets itself apart from its competitors based on four core tenets. PROPRIETARY TECHNOLOGY DISTRIBUTION CHANNELS We can pivot quickly to improve efficiencies and provide better experiences for our customers and partners. We have strong and diversified distribution channels including an established broker network and direct to customer via our proprietary Wisr App. CUSTOMER FIRST LENS PURPOSE-BUILT PRODUCT We’re more than just a lender and are building long-term relationships with our customers that go beyond the transaction. We support our customers’ financial wellness, combining lending with financial tools and features to help Australians access credit, pay down debt and make smarter money decisions. 7 WISR LIMITED • ANNUAL ANNUAL REPORT REPORT2024 2024 WISR IN FY24 In response to macroeconomic conditions, Wisr’s short-term strategy was to moderate loan volume and set ourselves up for long-term success once the external environment became more conducive to growth. 8 FY24 PRIORITIES Prudent capital management FY24 RESULTS ✓ Strategic cost management decreased operating expenses by 19% and cost-to-income ratio to 28% (FY23: 36%) ✓ Transition to moderated loan volume settings through to May 2024 Improve our capital position ✓ Secured $50M corporate facility from Nomura to bolster balance sheet and provide platform for growth ✓ Completed our fourth term deal, Freedom 2023, which lowered Wisr’s funding cost Return to growth ✓ Pivot back to growth in May 2024, with Q4FY24 run rate loan originations growing by 30% on Q3FY24 (pro forma) ✓ Momentum carried into FY25 with increases in application flow, greater loan origination volumes and larger average loan sizes Prioritise our customers and partners ✓ Addition of new features to the Wisr App including Debt Bustr Optimise lending processes ✓ Prioritising the quality of Wisr’s prime loan book (average credit ✓ Ongoing uplift and improvements to broker and partner experience score of 782) ✓ Uplifting internal technical capabilities for improved collections strategies Focus on people and culture ✓ Following leadership changes in early FY24, an initiative called Wisr 2.0 was undertaken. This included an independent cultural review, company values reset and full policy review ✓ Increase in company-wide employee engagement score from 68% to 79% (H2FY24) 9 WISR LIMITED • ANNUAL REPORT 2024 FY24 key results FINANCIAL LENDING Operating revenue New loan originations $93.8M (FY23: $91.9M) $210M (FY23: $495M) Portfolio yield Total loan originations 10.90% (FY23: 10.17%) $1.8B (FY23: $1.6B) Portfolio NIM1 Loan book 5.23% (FY23: 5.47%) $770M (FY23: $931M) June-24 run rate NIM 6.14% (June-23: 6.06%) Average Equifax credit score (total book)3 782 (Jun-23: 780) Opex $26.5M (FY23: $32.8M) On-balance sheet 90+ day arrears EBITDA $(2.3)M (FY23: $(0.5)M ) 2 Wisr saw revenue increase by 2% to $93.8M in FY24 due to improved yield metrics partially offset by a reduction in its loan book. In addition, Wisr’s portfolio yield and June-24 run rate NIM increased to 10.90% and 6.14% respectively, supporting our growth intentions in FY25. Despite the inflationary environment and moderated lending throughout most of FY24, Wisr limited its EBITDA loss to $2.3M and achieved a 19% reduction in operating expenditure to $26.5M. 1.58% (30-Jun-23: 1.25%) Credit quality was maintained, with a high average credit score of 782 and 90+ day arrears slightly increasing to 1.58%. This increase was driven by the maturing of and decrease in the loan book (denominator effect). While there was a decrease in loan originations and the size of the loan book, this was due to Wisr’s focus on deliberately moderating loan volume settings. 1 Net Interest Margin (“NIM”) defined as loan book yield less finance costs, excluding corporate facility interest cost and hedge accounting impacts. 2 FY23 EBITDA on a normalised basis (no normalisation for FY24). 3 Total loan book average Equifax credit score is the score at the time of application, includes active loans and excludes loans written off. 10 CAPITAL CUSTOMER Nomura corporate facility Monthly active users of Wisr App1 $50M $35M draw of the facility utilised to repay existing $25M corporate facility and fund growth Undrawn warehouse capacity $220M (30-Jun-23: $150M) ↑ 57% YOY at 30-Jun-24 Additional loan repayments made via one-time payment feature $9.0M at 30-Jun-24 Customer debt paid off with Round Ups $26.4M at 30-Jun-24 Unrestricted cash of $28.4M (30-Jun-23: $21.7M) Customer Net Promoter Score (all-time) Wisr equity holding in warehouses and term deals Loan customers engaged with the Wisr Platform further ahead on repayments2 by $42.8M (30-Jun-23: $48.3M) 12% at 30-Jun-24 In addition to the $50M corporate facility secured from Nomura in Q4FY24, Wisr finished FY24 with $220M in undrawn warehouse capacity. The business is well capitalised with a further $15M available from the Nomura facility to fund its ongoing growth plans. Unrestricted cash also increased to $28.4M from $21.7M in FY23, largely due to the new corporate facility. Wisr’s equity holding in warehouses and term deals decreased to $42.8M from $48.3M in FY23 but this reduction was due to the decrease in Wisr’s loan book as well as the sale of equity notes in Q3FY24 to optimise capital allocation. +78 at 30-Jun-24 From a product perspective, Wisr launched new features in FY24 including Debt Bustr – which allows customers to easily engage with and consolidate their debts, helping them reach a better financial position. A focus on enhancements to user experience delivered scalable business outcomes and industry recognition. Winner of WeMoney’s Best Mobile Experience Award, 2024 1 By Wisr loan customers. 2 Based on average comparison of engaged and unengaged Wisr Platform loan customers that are current and not in arrears during FY24. 11 WISR LIMITED • ANNUAL ANNUAL REPORT REPORT2024 2024 RETURN TO GROWTH 12 Following the execution of the $50M Nomura corporate facility and stabilised macroeconomic conditions, Wisr returned to growth. Wisr achieved a 7% increase in loan originations to $55M in Q4FY24 compared to the prior quarter. In addition, following the Nomura transaction, the run rate loan originations quarterly performance was circa $68M, a 30% increase on Q3FY24 (pro forma). Loan originations $68M $70M pro forma 30% $60M forma growth $13M $50M $1,200K $1,000K $40M $800K $30M $50M $53M $52M $55M $20M $600K $400K $10M $0 Q4FY24 average daily originations $1,028K $797K $855K Apr-24 May-24 $200K Q1FY24 Q2FY24 Loan originations Q3FY24 Q4FY24 Jun-24 Incremental Q4FY24 run rate originations post Nomura transaction (pro forma) 13 WISR LIMITED • ANNUAL REPORT 2024 New corporate facility supports pivot to growth Warehouse funding model The enlarged $50M Nomura corporate facility provides additional strength to Wisr’s balance sheet and the platform to fund loan book growth. The incremental $25M supports additional lending of circa $650M (through funding of warehouse seller notes), with average loan tenure of approximately four years. $625M Warehouse contribution Circa $650M in new lending $50M new corporate facility $25M incremental funding for growth $25M repayment of existing facility $25M seller notes (Wisr contribution) Corporate facility New lending Note: This is not a forecast. The data represents an indicative scenario of the economics of the Wisr Loan Book. Indicative economics are illustrative only and may vary due to a range of assumptions and variables. Data is subject to broader market conditions, including (but not limited to) movement in interest rates, macroeconomic conditions, and/or significant market volatility events. 14 Financial metrics Wisr is well-positioned in the medium-term to deliver a business with strong profitability at scale. • Improved yield metrics partially offset by a reduction in loan book delivered a $1.9M increase in revenue to $93.8M in FY24 • A $2.1M decrease in NIM to $44.7M was driven by higher funding costs • Strategic cost management decreased opex by approximately $6.2M and saw a reduced cost-to-income ratio of 28% (FY23: 36%) • Despite challenging macroeconomic conditions and moderated lending throughout most of FY24, Wisr limited its EBITDA loss to $2.3M • Net losses increased to $20.4M due to the seasoning of older loan cohorts FY24 ($) FY23 ($) Variance ($) Revenue 93.8M 91.9M 1.9M Finance costs1 (49.1)M (45.1)M (4.0)M NIM 44.7M 46.8M (2.1)M Net losses (20.4)M (14.5)M (5.9)M Opex (26.5)M (32.8)M 6.2M EBITDA2 (2.3)M (0.5)M (1.8)M 28% 36% - Cost to income ratio3 1 Finance costs excludes corporate facility interest costs and hedge accounting. 2 FY23 EBITDA on a normalised basis. 3 Cost to income ratio defined as operating expenses/revenue. 15 WISR LIMITED • ANNUAL REPORT 2024 FINANCIAL HIGHLIGHTS Loan originations Loan originations in FY24 reached $210M, a decrease on FY23 ($495M). However, following the pivot back to growth in May 2024, Wisr’s Q4FY24 run rate loan originations grew by 30% on Q3FY24 (pro forma). $1.8B $1.6B $495M $1.2B $611M FY22 FY23 Total loan originations (cumulative, to scale) Loan book Wisr’s loan book ended at $770M in FY24. This was a decrease on FY23 ($931M) but was driven by deliberate moderated loan volume settings. FY24 Annual loan originations (number) $931M $780M FY22 16 $210M $770M FY23 FY24 Revenue Wisr’s revenue in FY24 increased by 2% to $93.8M from $91.9M in FY23, with improved yield metrics partially offset by a reduction in the loan book. Moderated lending settings $92M $94M FY23 FY24 $59M FY22 Yield Portfolio yield in FY24 increased by 73 bps to 10.90% while front book yield decreased slightly to 12.62% from FY23 (13.11%). Notably, front book yield was largely dependent on product and credit mix originating in the last month of the financial year, with the average front book yield for Q4FY24 increasing to 13.04%. 13.11% 9.43% 10.17% 12.62% 10.90% 8.68% FY22 FY23 Portfolio yield FY24 Front book yield 17 WISR LIMITED • ANNUAL REPORT 2024 NIM Wisr’s portfolio NIM decreased slightly to 5.23% in FY24 (FY23: 5.47%), driven by an increase in funding costs. At the same time, front book NIM (Jun-24 run rate) increased to 6.14% (Jun-23 run rate: 6.06%). as loan originations scale. This is due to the accretive front book margin having a higher weighting on the portfolio margin. In addition, while finance costs1 were predominantly impacted by a rising interest rate environment, this was well mitigated by higher yields and an effective hedging strategy. Importantly as Wisr focuses on growth in FY25 and beyond, front book NIM will have a greater impact on portfolio NIM Portfolio NIM movement Front book NIM movement (-24 bps) 5.47% FY23 1 18 0.26% (+8 bps) -0.50% 6.06% -0.49% 0.56% 6.14% Jun-23 Yield Finance costs Jun-24 5.23% Yield Finance costs FY24 Finance costs excludes corporate facility interest costs and hedge accounting. Credit quality In FY24, Wisr prioritised the quality of its loan book with its average credit score strong and stable at 7821. 90+ day arrears increased slightly to 1.58%, from 1.25% in June 2023, this was driven by both a decrease in, and a maturing of Wisr’s loan book. Significant work was done to improve collections processes in FY24 and while Customer credit scores and 90+ day arrears2 3.00% 1000 800 600 400 793 778 780 769 786 1.58% 1.25% 0.98% 782 2.00% 1.50% 1.00% 0.50% 200 0 2.50% 90+ DAY ARREARS CREDIT SCORES 1200 0.00% FY22 Average front book credit score FY23 FY24 Average portfolio credit scorebook credit score On-balance sheet portfolio 90+ day arrears Net losses and loan book LOAN BOOK $800M $931M $780M $770M 2.43% $600M $400M 1.59% 1.17% $200M 0 FY22 FY23 Loan book FY24 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% NET LOSS TO AVG BALANCE $1.0B Net losses as % of average loan book 1 Total loan book average Equifax credit score is the score at the time of application, includes active loans and excludes loans written off. 2 On-balance sheet portfolio arrears, excludes off-balance sheet. 19 WISR LIMITED • ANNUAL REPORT 2024 Funding program • WH1 (Personal Loan WH) has $400M of committed funding and an undrawn capacity of $126M, while WH2 (Secured Vehicle WH) has committed funding of $250M and an undrawn capacity of $94M (total $220M available). • In December 2023, Wisr successfully delivered its fourth ABS transaction, the $200M Wisr Freedom Trust 2023-1, which delivered a weighted average margin of 2.34% over one-month BBSW. The term deal consisted of prime quality personal loans and achieved a AAA Moody’s rating for the top tranche ($140M). • In March 2024, Wisr successfully called its first term deal Freedom 2021 on the first available call date. Remaining loans from the call were transferred to WH1. • $875M has been raised across four ABS transactions - Freedom21 (successfully called), Freedom22, Independence23 and Freedom23. • Wisr is continuing to work on a third warehouse (mixed PL and SVL) with a new senior funder. Funding as at 30 June 2024 $220M $1.0B $800M $768M $988M $143M Freedom23 $87M Freedom22 $107M Independence23 $250M SVL Warehouse $400M PL Warehouse $600M $400M $200M 0 20 Drawn Available Total facility Capital position Restricted cash $34.0M Cash per balance sheet $62.4M Cash held in warehouses and term deal trusts: • Undistributed customer loan repayments (principal and interest) • Unutilised funds from note subscriptions (predominantly thirdparty debt) • Use of funds restricted to funding loans and operating warehouses and term deals e.g. Trustee fees Unrestricted cash $28.4M Cash on hand available for any business purpose Undrawn corporate facility $15.0M Undrawn corporate facility available to fund the Company’s ongoing growth plans Wisr equity holding in warehouses $42.8M Wisr equity investment in warehouses: • SVL Warehouse ($5.0M) • Independence23 ($8.4M, projected call date1 Oct-26) • Freedom22 ($5.5M, projected call date1 Sep-25) • Freedom23 ($9.8M, projected call date1 Aug-27) • PL Warehouse ($14.1M) Capital assets 1 Call dates are forecasted based on expected prepayment rates and actual dates may vary. 21 WISR LIMITED • ANNUAL REPORT 2024 WISR IN FY25 22 We are entering an exciting new phase at Wisr, having successfully resumed growth in late FY24. As we move into FY25, our focus remains on driving growth while building a profitable, self-sustaining business. With a strengthened balance sheet, proprietary technology, a high-quality loan portfolio and strong risk and operational frameworks, Wisr is well-positioned to achieve these objectives. FY25 OBJECTIVES Growth1 • Grow loan originations in FY25 vs. FY24 by 75%+ • Drive growth in the loan portfolio Profitability1 • Focus on loan volume growth at attractive unit economics, maintaining high credit quality and disciplined cost control • Continue pathway to profitability without the need for additional equity capital 1 Distribution channels • Strengthen and grow our existing distribution channels with a focus on market-leading user experience and excellent service Deepening customer connections • Leverage Wisr user base to deliver scalable business outcomes through customers accessing, managing and repaying credit • Continue to engage, educate and support customers on their financial journeys through the Wisr App Growth and profitability priorities will be reported on and refined as the year progresses. Forward-looking statements, whilst considered reasonable by Wisr at the date of this presentation, involve known and unknown risks, assumptions and uncertainties, many of which are beyond Wisr’s control. There can be no assurance that actual outcomes will not differ materially from those stated or implied by these forward-looking statements, and readers are cautioned not to place undue weight on such forward-looking statements. 23 WISR LIMITED • ANNUAL REPORT 2024 EXECUTIVE LEADERSHIP TEAM Andrew Goodwin Andrew joined Wisr as its Chief Financial Officer in 2017 before being appointed to his current role as Chief Executive Officer in August 2023. With over 20 years of experience in financial services, Andrew leads Wisr’s executive team, dedicated to the company’s long-term growth and guides Wisr’s overall business strategy. Prior to Wisr, Andrew worked in investment banking at Macquarie Capital, along with KPMG. CHIEF EXECUTIVE OFFICER Joanne Edwards CHIEF OPERATING OFFICER Matthew Lewis CHIEF FINANCIAL OFFICER 24 Joanne joined Wisr as its Chief Risk and Data Officer in 2019 before being elevated to Chief Operating Officer in 2023. With two decades of experience in financial services across risk management, credit risk, product management, pricing, analytics and strategic project delivery, Joanne is passionate about using data and analytics to solve business problems, drive profitable growth, streamline processes and improve customer experience. Before Wisr, Joanne was General Manager of Unsecured Risk at the Commonwealth Bank, where she led major projects including the integration of the bank’s Comprehensive Credit Reporting compliance. Matthew joined Wisr as its Chief Financial Officer in March 2024, leading Wisr’s finance team across funding and treasury, portfolio management, accounting and payment solutions. With 25 years of experience in financial services and consulting, Matthew previously held senior roles at KPMG, leading due diligence investigations and capital market transactions, and Avoka Technologies, a global enterprise SaaS fintech. James Goodwin CHIEF GROWTH OFFICER David King GENERAL COUNSEL & COMPANY SECRETARY Kate Renner James joined Wisr as its Head of Marketing in 2018 before being elevated to Chief Marketing Officer in late 2019. In his current role as Chief Growth Officer, James drives the growth strategy and distribution of Wisr’s range of products and services. He leads high-performing teams across business development, customer experience, marketing, communications and investor relations. James has over 15 years of experience building brands, working with a number of established financial services and challenger brands including Virgin Mobile, Bankwest, AMEX and ING. David is Wisr’s General Counsel and Company Secretary having joined the team in early 2022. He is a commercial lawyer with over 16 years of experience working in law firms and in-house both in Australia and internationally. Before joining Wisr, David advised on legal and business affairs across Asia-Pacific as Senior Legal Counsel (APAC) at IMG/Endeavor (NYSE: EDR). Prior to this, David was previously an Associate at global law firm Taylor Wessing LLP in London. David holds a Bachelor of Laws (LLB) and Bachelor of Commerce (BComm - Finance) from the University of Melbourne. Kate joined Wisr as its first People and Culture hire in mid-2019. After building Wisr’s employee experience, HR and recruitment functions from the ground up, she was promoted to Head of Employee Experience in early 2021 and joined Wisr’s Executive Leadership team. Formerly based in Silicon Valley, Kate has over 15 years of experience building people and recruitment programs at organisations including Salesforce and Inkling. HEAD OF EMPLOYEE EXPERIENCE 25 WISR LIMITED • ANNUAL REPORT 2024 BOARD OF DIRECTORS Matthew Brown CHAIR BCom; LLB Mr Brown is a highly experienced senior executive, board member, adviser and investor with over 20 years of experience across investment banking and technology, both in Australia and the United States. He is the Founder and Managing Director of independent investment and corporate advisory firm, Alluvion Capital. Prior to Alluvion Capital, Mr Brown was Chief Financial Officer and Executive Director of a high-growth, global enterprise SaaS business. Mr Brown was also previously a Managing Director at Macquarie Capital, where he spent over a decade in Sydney and New York with a focus on M&A, capital markets and principal investing. Mr Brown is also a non-executive director of EncompaaS Software Limited, Thinxtra Limited, Learning Vault Pty Limited and Upwire Pty Ltd and an active investor in early-stage, highgrowth technology businesses. Ms Lyall is a highly experienced senior executive, board member and strategic adviser with over 35 years of experience across finance, banking, government and fintech in Australia and the United Kingdom. Cathryn Lyall NON-EXECUTIVE DIRECTOR B.A.; M.A 26 Ms Lyall is a Partner at Seed Space Venture Capital, the CoFounder of not-for-profit Seed Money Australia and holds nonexecutive director roles at several unlisted fintech companies. She is also a non-executive director of peak industry body, Fintech Australia. Ms Lyall’s extensive experience in the Australian and British financial services sectors includes roles at the Chicago Mercantile Exchange, Nasdaq and the London Stock Exchange. Most notably, she was previously a non-executive director at Deutsche Bank UK Bank, sitting on the Bank’s Board Risk Committee (BRC), the Listed Derivatives Risk and Compliance Committee (LDRCC) and the Nomination Committee as Chair. Craig Swanger NON-EXECUTIVE DIRECTOR BCom (Hons); SIA GD Kate Whitney NON-EXECUTIVE DIRECTOR B.A. Mr Swanger is a director, adviser and investor in a number of high growth companies and venture capital funds. He was previously with the Macquarie Group as Global Chief Investment Officer for 15 years, having approximately US$10 billion under management across equities, farmland, carbon assets and credit. Mr Swanger has been involved in investment management for more than 30 years and across 14 countries including the United States, Canada, Brazil, the United Kingdom, Singapore and Hong Kong. He has been a director of major funds management and credit organisations since 2002, including Macquarie’s largest funds management entity, Macquarie Investment Management Limited. In addition to Wisr Ltd, Mr Swanger is currently a non-executive director of Income Asset Management (ASX:IAM), New Quantum Pty Ltd (unlisted), and Care360 Pty Ltd (unlisted). Ms Whitney is a highly experienced senior executive with over 25 years of experience in Australian consumer law, accelerating growth, product expansion and driving customer acquisition through data and analytics across marketing, advertising, subscription television, FMCG, financial services, telecommunication, luxury and retail. From 2020 to 2022, she held the position of Chief Marketing and Growth Officer for Marley Spoon Australia (ASX: MMM), and in early 2023 was appointed as Chief Digital and Technology Officer for Treasury Wine Estates (ASX: TWE). In her current role, Ms Whitney has oversight of all of the company’s technology, cyber-security and information systems globally, as well as the data, insights and analytics division. Previously, Ms Whitney spent six years as the Director of Digital at Pernod Ricard, both in Australia and the US. Prior to that, she was the General Manager of Marketing at David Jones. 27 WISR LIMITED • ANNUAL ANNUAL REPORT REPORT2024 2024 WISR LIMITED • ABN 80 004 661 205 FINANCIAL REPORT for the year ended 30 June 2024 28 WISR LIMITED • ANNUAL REPORT 2024 DIRECTORS’ REPORT For the year ended 30 June 2024 DIRECTORS’ REPORT For the year ended