Benefits to Findi from the Transaction and Equity Raising1....

Benefits to Findi from the Transaction and Equity Raising

1. Increased Ownership in TSI India

• Findi’s stake in TSI India has increased to 82.1% (from 80.6%) due to a small rights issue.

• After the new Piramal CCDs convert, Findi’s ownership is expected to be ~78%, compared to 69.7% under the old CCD agreement.

• This significantly reduces dilution while maintaining control over TSI’s strategic direction.

2. Better Capitalisation for ATM Expansion & Digital Payments Growth

• The A$45M equity raising strengthens Findi’s balance sheet, enabling:

• A$22.8M for Brown Label ATM (BLA) expansion, supporting a 54% increase in the SBI contract (from 4,219 ATMs to 6,512).

• A$5M allocated to accelerate White Label ATM (WLA) rollout, leveraging TCPSL’s franchise model to expand the network with lower capital requirements.

• Additional funds available for potential digital payments acquisitions, enhancing FindiPay’s merchant network and financial services.

3. Stronger Financial Position & Lower Costs

• Annual interest savings of ~A$6M from repurchasing Piramal’s CCDs.

• Improved profitability with increased ATM interchange fees, adding A$5.5M NPAT in FY26 and A$10M in FY27.

• Allows Findi to pursue further acquisitions in the digital payments sector, accelerating its transition to a full-service fintech and payments bank.

4. Clear Pathway to TSI India’s IPO & Valuation Growth

• The TSI India IPO on the Bombay Stock Exchange (BSE) in 2026 provides a liquidity event for Findi.

• Expected valuation of A$1B+, offering potential upside for Findi shareholders.

• The new Piramal investment at A$500M post-money valuation validates Findi’s long-term growth strategy.

Conclusion:

Findi benefits from higher ownership in TSI India, better capitalisation to expand its Brown Label and White Label ATM networks, and additional funding for digital payment acquisitions. The TSI IPO, cost savings, and expanded revenue streams position Findi for strong growth and shareholder value creation.