Ann: Half Yearly Report and Accounts, page-198

LOL you are a pumper and yes I am going to call you out. Fact #1 The share price has falled over 70%. Fact #2 The increase in transactions from Bendigo terminals is equally being paid by Tyro with a massive cost and integration costs. Fact #3 Loan book on Tyro hasn't gone well at all and with interest rates creeping higher this is likely to be less competitive. Fact #4 Everyday there are new products offerrings coming into the sector. They are much better resourced, better funding or have better IT know-how. Example Apple (better everything), Banks certainly have more funding and resources (it's just whether they want to compete in the market), Block, Square etc not to mention BNPL players who may enter Tyro main market. Fact #5 Inflation in Australia may increase the $ value but leaves alot less discretionery spend on coffees (expect $7-8 for a coffee) some may afford that now but I guarantee they wont when interest rates on mortgages hit 5-6%. Fact #6 Everytime Tyro has grown it has made even larger losses. Fact #7 Contingent liability is still not factored in the accounts for the legal issue regarding the outages. Fact #8 If Tyro coudn't make money when interest rates (at least RBA was 0.1%) how will it make money when interest rates go much higher. Fact #9 Stock market has gone from exuberance to pessimism territory. The stock was a dissapointment when the stock market was at highs in 2021 how can it be possitive when we are in a bear market headed to a global recession. Fact #10 CEO Robbie has been a disaster for this stock and he continues to get options. He is not someone with a vision but someone who is continuing running a business into the ground.

GLTAH but Tyro only faces major challenges and headwinds in the near future. In 2024 or late 2023 things could change but not in the near term.