Araxi Limited · JSE:AXX
Araxi — Merger or Acquisition (February 2026)
20 slides from Araxi's merger presentation, February 2026
Slide 1: Araxi Acquisition of Pay@
Araxi Acquisition of Pay@ February 2026
Slide 2: Outline
Outline 1 About Pay@ page 3 2 Transaction details page 11 3 Compelling opportunity page 15 4 Q&A page 18
Slide 3: About Pay@
About Pay@
Slide 4: Likely you have used Pay@
About Pay@ Likely you have used Pay@ It’s quick, easy and friction-free Scan and Pay Have you ever . . . ✓ Paid your DSTV bill at Pick ‘n Pay or through you Hello J*** L**(115661) Amount to pay: ZAR 100.00 banking app on your mobile device? ✓ Settled your traffic fine at Shoprite or on Paythat.co.za
Slide 5: Pay@ is a fully integrated payment enabling platform with physical and digital implementations
About Pay@ Pay@ is a fully integrated payment enabling platform with physical and digital implementations 5
Slide 6: Flexible architecture provides foundation for new product innovation
Flexible architecture provides foundation for new product innovation Services • Pay@’s market-leading, multi-product, Bill Payments eCommerce SaaS secure and efficient proprietary platform Pay@ QR DigiAPI EBPP-as-a-service seamlessly consolidates a wide range of Pay@ Retail Banking-as-a-service paym
Slide 7: Enabling platform ubiquitously available across SA
About Pay@ Enabling platform ubiquitously available across SA Pay@ has South Africa’s largest network footprint spanning retail, banking, MNOs, vouchers and Fintechs, allowing consumers to transact how and when they want – cash, card, etc PHYSICAL DIGITAL 9 000+ 150 000+ MILLIONS Retailer Locations
Slide 8: A strong financial track record
About Pay@ A strong financial track record 27% 21% Transaction Volume Revenue 23% 13% 32% 19% 271 112.1 92.8 214 165 174 Pay@ growth Millions 70.2 154 linked to both R million 63.9 56.0 transaction volume (flat fee) and transaction FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 value (ad valorem)
Slide 9: Accomplished management team
About Pay@ Accomplished management team A world-class management team with decades of industry and sector experience. Andrew Hardie Marlinda de Klerk Chief Executive Officer Chief Financial Officer • 8+ Years at Pay@ serving as CEO • 10+ Years at Pay@ serving as CFO since Jan 2020 since Aug 2014 • B
Slide 10: Geographically diverse with growth ahead
About Pay@ Geographically diverse with growth ahead The platform’s reach extends beyond South Africa with the potential for significant further expansion These geographies and relationships present a platform for further growth for Araxi Payments and Araxi Software 10
Slide 11: Transaction details
Transaction details
Slide 12: Transaction details
Transaction details 40% 60% Transaction summary International South Africa S/H 1 S/H 2 S/H 3 S/H 4 S/H 5 S/H 6 S/H 7 • Araxi is to acquire 80% of Pay@ for ZAR 1 billion, funded with ZAR200 million cash on hand and ZAR 800 million in senior debt • Araxi gearing will remain modest ** Pay@ Pay@ Compani
Slide 13: Transaction details: additional details
Transaction details Additional • Remaining shareholders to continue as Directors of Pay@ - 2 distinguished and transaction accomplished business leaders details • Usual and customary representations and warranties included in the transaction agreements • Transaction subject to traditional conditions
Slide 14: Financial effects of the transaction – FY25
segment contribution Financial effects of the transaction – FY25 Financial effects & EBITDA contribution of major segments Revenue contribution by segment (excl. consolidation, corporate, intl.) 17% • On a pro-forma (“PF”) basis for year ended 31 March 2025, the combined Pre transaction group revenu
Slide 15: Compelling opportunity
Compelling opportunity
Slide 16: Compelling Opportunity
Compelling Opportunity Araxi’s acquisition criteria surpassed Pay@ aligns well with Araxi’s thesis A scale business, with Differentiated Complementary Growth Appropriately product/market Offering Portfolio Opportunity Priced fit Cash Strong Enterprise Araxi can add Generative Management Focused valu
Slide 17: A compelling opportunity for accelerated growth
Compelling Opportunity A compelling opportunity for accelerated growth 1 Pay@ addresses a real, persistent market need – 2 Pay@ is an enabling technology solution – platform for innovation 3 Pay@’s business model is activity based - adaptable, scalable, economically targets Financial and growth – eC
Slide 18: Q&A Thank You
Q&A Thank You
Slide 19: The combined ecosystem will accelerate growth for both groups
The combined ecosystem will accelerate growth for both groups Pay@’s full-service platform will open new Strong transformation credentials Pay@ becomes an industries & markets Entry via combined Pay@Go, Halo exclusively SA-held business, B-BBEE level 2 rating offerings Accelerated solutions for new
Slide 20: Host of growth opportunities
Compelling Opportunity Host of growth opportunities Pay@ is well-positioned to execute on actionable growth drivers across a broad spectrum Leverage Expand core bill strategic payments partnerships business Broaden Capitalise on cash geographic payments moat scope and digital payment growth Grow Saa