COURT RULES IN TYRO’S FAVOUR (KOUNTA PROCEEDINGS)Sydney, 16...

COURT RULES IN TYRO’S FAVOUR (KOUNTA PROCEEDINGS)Sydney, 16 November 2023 – Tyro Payments Limited (Tyro or the Company) refers to its ASXannouncement dated 4 September 2023, relating to the proceedings in the Supreme Court of NewSouth Wales (Proceedings) commenced by Tyro against Kounta Pty Limited (Kounta).As noted in Tyro’s ASX announcement dated 4 September 2023, Kounta is part of a group of companiesincluding Lightspeed Commerce, Inc. (the Lightspeed Group). The Lightspeed Group offers severalpoint-of-sale (POS) systems to merchants in Australia. The Lightspeed Group’s payment processingservice (branded ‘Lightspeed Payments’) is offered in Australia by Kounta.The Court has today made orders that restrain Kounta (without Tyro’s consent) from soliciting, inducingor otherwise attempting to persuade any Tyro merchant to become a merchant of any entity providingAcquiring Services (being the functions and facilities provided by Tyro to facilitate the processing offinancial transactions). The restraint continues until 6 September 2024.This includes restraining Kounta from soliciting, inducing or otherwise attempting to persuade anymerchant of Tyro to use Lightspeed Payments.In its reasons for judgment, the Court made findings that Kounta was in breach of its contractual andfiduciary obligations to Tyro. The Court has otherwise stood the Proceedings over for further directionson 24 November 2023 in circumstances where Tyro has sought other final relief including, damages,an account of profits or equitable compensation, contractual indemnity and costs.