Employee Share Scheme Shares issued (unpaid)

Capital Change Notice
Section 1: Issuer information
Name of issuerPaySauce Limited
NZX ticker codePYS
Class of financial productEmployee Share Scheme
Shares
ISIN (If unknown, check on NZX website)N/A
CurrencyNZD
Section 2: Capital change details
Number issued1,265,319
Nominal value (if any)N/A
Issue/acquisition/redemption price per security$0.2842 per share (being the
Average Market Priceof a
PYS share at the date of this
allotment).
Nature of the payment (for example, cash or other
consideration)
The shares have been issued
unpaid and, once allocated to
employees, may be paid up by
those employees (or on their
behalf by PYS) when the
shares vest. Generally, one
third of the allocation will vest
upon allocation, one third will
vest 12 months after allocation
and the final third will vest 24
months after allocation.
Amount paid up (if not in full)$nil
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
100% (once employee share
scheme shares vest and are
fully paid up they become
ordinary shares and the
issuance today represents
0.91% of all ordinary shares
on issue in PYS)
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or
the Option (for example, the exercise price and exercise date)
For Employee Share Scheme
Shares to vest, an employee
must remain employed by
PYS at the relevant vesting
date and PYS must have
achieved its budgeted
earnings before interest and
tax for the prior completed
financial year. Vested shares

must be paid up if an
employee leaves employment
with PYS or within three years
of the date on which they vest.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
To incentivise employees and
align their interests with
shareholders.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
Stock) and the total number of Financial Products of the Class
held as Treasury Stock after the issue/acquisition/redemption.
1,265,319
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Listing Rule 4.6 and Board
resolution.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Employee Share Scheme
Shares may not be sold
transferred or otherwise dealt
with by holders until they have
vested and are fully paid up.
Date of issue/acquisition/redemption31 March 2022
Section 3: Authority for this announcement and contactperson
Name of personauthorised to make this announcementJaime Monaghan
Contact person for this announcementJaime Monaghan
Contact phone number022 5246 366
Contact email addressjaime@paysauce.com
Date of release through MAP31 March 2022