Slide 1: Filed by Paysafe Limited pursuant to Rule 425
Filed by Paysafe Limited pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: Foley Trasimene Acquisition Corp. II SEC File No.: 001-39456 Date: March 9, 2021
Slide 2: March 9th, 2021 Analyst Day Presentation
March 9th, 2021 Analyst Day Presentation
Slide 3: Legal disclaimer
Legal disclaimer Important Information About the Proposed Business Combination and Where to Find It In connection with the proposed business combination, a registration statement on Form F-4 (the “Form F-4”) has been filed by Paysafe Limited, an exempted limited company incorporated under the laws o
Slide 4: Presenters
Presenters Philip McHugh Chief Executive Officer & Director Izzy Dawood Chief Financial Officer Danny Chazonoff Chief Operating Officer Philip joined Paysafe in 2019 as CEO Philip has been an international leader in the banking and payments industry for over 25 years with experience across Latin Ame
Slide 5: 1. Overview of Paysafe
1. Overview of Paysafe Paysafe:
Slide 6: Our evolution continues
Our evolution continues Source: Paysafe Group reported revenue; Optimal Payments and NETELLER estimated revenues on a net basis from reported financials. Creation of a pioneer in digital commerce and iGaming Scaled and expanded across products and geography Significant investment, platform integrati
Slide 7: Exciting future with the Foley team
Exciting future with the Foley team Deeply embedded in attractive markets ü Upside from integration, platform consolidation and cross-sell ü Multiple acquisition opportunities ü Positioned to win in key, high growth markets ü Bill Foley has substantially grown the size and scale of the companies he’
Slide 8: The Leading Specialized Payments Platform
Two-Sided Network Proprietary APMs Risk Management Ease of Integration Multiple Ways to Pay The Leading Specialized Payments Platform The Global Leader in iGaming Sports betting Online casino Lottery eSports Fantasy sports Growing Digital Commerce in Attractive Verticals Digital goods Fintech servic
Slide 9: A global pioneer in digital commerce
A global pioneer in digital commerce Note:Integrated as defined on slide 62. 2021E numbers represent midpoints of guidance. ~$105bn Total Volume ’21E ~$1.5bn Revenue ’21E Highly differentiated B2B and B2C global network with a powerful suite of digital wallet, eCash and integrated processing solutio
Slide 10: Proprietary integrated solutions…
Proprietary integrated solutions… Note:Online, APM, API, Integrated, POS as defined on slide 62. (1)Derived from management analysis that excludes stored credential wallets (e.g. Apple Pay, Samsung Pay), closed loop wallets (e.g. retailer-led) and based on the 120+ markets currently served. (2)Based
Slide 11: …with attractive scale and financial profile…
…with attractive scale and financial profile… Note:Online, ISV and take rate as defined on slide 62. (1)As of December 2020. Active users based on active wallet accounts. Includes both independent and network accounts. (2)Based on total digital wallets balances as of December 2020. (3)Paysafe estima
Slide 12: …creating a powerful Paysafe Network
…creating a powerful Paysafe Network Note:Online, Take Rate, APM, SMB, and Integrated as defined on slide 62. (1)Take Rate as of 2020A. (2)Peers include: Fidelity National Information Services, Fiserv, Repay, Nuvei, Shift4, PayPal, Global Payments, EVO Payments, Paya, i3 Verticals, Priority Payments
Slide 13: Leadership in the fast growing lanes of digital commerce
Source:Traditional payments market data per Euromonitor International. International excludes Bangladesh, Brunei Darussalam, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, Pakistan, Singapore, South Korea, Thailand, Vietnam, Poland and Turkey. eCommerce market data per eMarketer. Intern
Slide 14: Right to Win in valuable verticals
Right to Win in valuable verticals iGaming Digital Goods Travel & Entertainment Integrated Payments FinTech Services 2 TAM $80bn+(1) $500bn+(3) $1.5tn+(2) $2.2tn+(5) $2.9tn+(4) Note:TAM reflects 2020E volumes except iGaming. (1)Represents deposit volumes. EDC and H2 Gambling Capital research 2020-20
Slide 15: We are a global leader in iGaming
We are a global leader in iGaming Single integration Connectivity to ~70 APMs(6) Global risk and regulatory expertise Single solution for consumers & businesses Europe and Rest of World 10% CAGR Deposit volume ($bn)(2) Global leader with over 1,000(1) operators Launched in 1999 United States Deposit
Slide 16: Global Platform integrated cloud technology
Note:Integrated, API and SMB as defined on slide 62. Global Platform integrated cloud technology Cyber Security Increased resilience and improvements to security controls, monitoring, cyber defenses and security culture Embedding cloud security capabilities, and reducing security friction Timing: On
Slide 17: Global Platform risk & compliance
Global Platform risk & compliance 300+ Professionals Dedicated to Risk & Compliance and Analytics Highly developed Global Risk & Compliance Capabilities: Proven by Years of Successful Development in Complex Markets Two e-money licenses in Ireland Three e-money licenses in UK regulated by FCA Princip
Slide 18: Platform expansion & M&A engine
Paysafe Platform expansion & M&A engine 20+ Years of Experience 15 Deals Integrated 300+ Deal Experience in Management Team 4 Advantaged Platform for Consolidation Global Capabilities Large & Diverse Pool of Opportunities for Growth Digital Wallet & eCommerce Payment Processing eCash iGaming “Plug &
Slide 19: Executed by a team of experienced industry leaders
Executed by a team of experienced industry leaders Izzy Dawood Chief Financial Officer Danny Chazonoff Chief Operating Officer Philip McHugh Chief Executive Officer Paulette Rowe CEO, Integrated & eCommerce Solutions Lorenzo Pellegrino CEO, Skrill, NETELLER, Income Access Udo Müller CEO, paysafecard
Slide 20: Doing things the right way
Doing things the right way 5 Drive an improving positive NPS Customer-centric >80% score on inclusive culture Commitment to diversity on the Board Diverse and inclusive Market leading employee engagement score >80% Engaged organization Maintain Carbon Neutrality Part of our communities Open Focused
Slide 21: Consistent strong top- and bottom-line organic growth
Consistent strong top- and bottom-line organic growth Positioned well for market consolidation Potential to double or triple the Company size over the near to medium term The Leading Specialized Payments Platform VISION Sports betting Online casino Lottery eSports Fantasy sports History Team Platfor
Slide 22: 2. Product overview
2. Product overview
Slide 23: 3. Vision and growth strategy
3. Vision and growth strategy
Slide 24: The Leading Specialized Payments Platform
Two-Sided Network Proprietary APMs Risk Management Ease of Integration Multiple Ways to Pay The Leading Specialized Payments Platform Connected to ~75% of operators in the U.S. and 100% of Canadian iLotteries ~40% of revenue in fast growing and emerging verticals Management with 300+ deal closing ex
Slide 25: A Global Leader in iGaming with clear right to win in the U.S.
Europe & RoW Since 1999 Canada Since 2010 Single integration End-to-end payments platform Connectivity into all available payment options Global risk and regulatory management expertise Single solution for consumers and operators United States Since 2013 Deposit volume ($bn) $47bn 55% CAGR (3) (4) L
Slide 26: Continuing to win and expand market share
Continuing to win and expand market share Live in 14 states and connections to ~75% of operators U.S. iGaming today The market is opening at a rapid pace. We’re all in. Legalized digital sport Betting & Gaming Legalized sports betting & live digital sports betting Legalized sports Betting Expected l
Slide 27: Leveraging the Paysafe Playbook to win in U.S. iGaming
Already live in 14 states and connected to ~75% of U.S. operators Stellar reputation and industry experience Deep understanding of what both operators and consumers require to be successful COVID-19 accelerating regulation and we are positioned in emerging states with leading operators Dedicated tea
Slide 28: Right to Win in valuable verticals
iGaming Digital Goods Travel & Entertainment Integrated Payments FinTech Services TAM Right to Win in valuable verticals $80bn+(1) $500bn+(3) $1.5tn+(2) $2.2tn+(5) $2.9tn+(4) Note:TAM reflects 2020E volumes except iGaming. (1)Represents deposit volumes. EDC and H2 Gambling Capital research 2020-2025
Slide 29: Operational leverage
Operational leverage Drive growth and streamline costs Enterprise sales Plug into Paysafe Unity platform One integrated platform Global servicing Enhanced value added services Global risk services Optimize acceptance and reduce fraud Transformation team focused on further operational consolidation I
Slide 30: Significant acquisition opportunities across all segments
Note:APM amd API as defined on slide 62. Ability to augment and enhance existing M&A track record with Foley’s best-in-class execution and network eCommerce iGaming Own more of the cashier through APM consolidation Add complementary iGaming services Digital Wallet 170+ specialized wallets globally w
Slide 31: 4. Financial overview
4. Financial overview
Slide 32: Paysafe has a compelling financial profile
Paysafe has a compelling financial profile Significant Scale Strong Growth High Margins Strong Cash Conversion $100 – 110 billion in 2021E transactional volume(2) $1.52 – 1.55 billion in revenue in 2021E(3) 10% revenue growth CAGR 2020A-2023E(3) Highly profitable model with significant operating lev
Slide 33: Highly diversified business
Highly diversified business Note: Based on revenue contribution for FY2020A. Online as defined on slide 62. (1)Figures rounded to 100% for presentation purposes. (2)Split by region of transaction initiation for Digital Wallets and eCash, and by merchant location for Payment Processing. (3)iGaming en
Slide 34: Asset light operating model
Asset light operating model Free Cash Flow Conversion %(1) 76% 76% 85% Strong underlying cash generation Asset light and scalable business model Expect free cash flow conversion(1) in the range of 70-80% in 2021E (1) See slide 54 for additional information regarding this non-GAAP measure. (1) (1) ($
Slide 35: Leverage profile
Leverage profile Total Net Leverage(1) / 2021E Adj. EBITDA(2)(3) Significant deleveraging post-merger with Foley Trasimene $1,805m of pro forma net debt Lower leverage levels provides greater flexibility ability to pursue M&A opportunities Long-term leverage goal of ~3.5x $1,805 Net debt ($ in milli
Slide 36: Sources of revenue and gross profit
Sources of revenue and gross profit (1)Take Rate as defined on page 62. (2)As of December 2020. Active users based on active wallet accounts. Includes both independent and network accounts. (3)As of December 2020. (4)Paysafe estimate as of LTM December 2020. (5)Redeemable at 2,800+ online stores as
Slide 37: Near term look back
Near term look back ($ in millions, unaudited) 2020E Organic 2020A Volume $88,687 $91,166 Revenue $1,380 $1,403 Adjusted EBITDA(1) $420 $421 Adjusted EBITDA(1) margin 30% 30% (1)See slide 54 for additional information regarding this non-GAAP measure. Revenue and adjusted EBITDA(1) outperformed relat
Slide 38: Strong volume growth historically and going forward
Strong volume growth historically and going forward Volume ($ in billions, unaudited) Double digit volume growth Growth across all segments Commentary ’20A – ’23E CAGR 14% 28% growth (1)Sum of individual segment volumes not equal to total volume due to the impact of intrasegment eliminations. ($ in
Slide 39: Driving consistent revenue growth
Driving consistent revenue growth Revenue ($ in millions) 2021E revenue on higher end of prior guidance Revenue growth expected across all segments Continued momentum in Integrated Processing and eCash Commentary ’20A – ’23E CAGR 10% 24% growth 1.4% 1.5% 1.5% 1.4% % take rate 1.4% - 1.5% Note:2020A
Slide 40: Attractive gross profit profile
Attractive gross profit profile Gross profit ($ in millions) 2021E gross profit expected to be marginally lower due to business mix Integrated Processing and eCash momentum continue to drive strong growth Commentary 21% growth 64% 63% 66% 64% % gross margin ’20A – ’23E CAGR 10% 61% - 63% Note:Gross
Slide 41: Scalable expenses generate operating leverage
Scalable expenses generate operating leverage Expenses to grow at low to mid single digits Assumes public company expenses(1) of $9-14 million in 2021E Credit costs also expected to be lower Commentary Cost of services(2) + SG&A ($ in millions) ’20A – ’23E CAGR 7% 30% growth Note:2020A is unaudited.
Slide 42: Strong and expanding adjusted EBITDA margin
Strong and expanding adjusted EBITDA margin Adjusted EBITDA ($ in millions) Scalable business model and continued cost discipline drives EBITDA growth Adjusted EBITDA includes PubCo costs(1) of $9 – 14 million in 2021E Margins increasing by ~150 bps in 2021E Commentary 14% growth % Adj. EBITDA margi
Slide 43: Q1 2021E and 2021 Guidance
Q1 2021E and 2021 Guidance 2021 Q1 2021E Metrics December 7th IP Guidance Guidance Revenue $1,523 $1,520 – $1,550 $360 – $380 Gross Profit N/A $930 – $970 $220 – $230 Margin N/A 61% – 63% ~61% Adjusted EBITDA $487 – 492(1) $480 – $495 $105 – $115 Margin 32% ~32% 29% – 30% Cost of Services(2) + SG&A
Slide 44: Consistent strong top- and bottom-line organic growth
Consistent strong top- and bottom-line organic growth Positioned well for market consolidation Potential to double or triple the Company size over the near to medium term The Leading Specialized Payments Platform VISION Sports betting Online casino Lottery eSports Fantasy sports History Team Platfor
Slide 45: Q&A
Q&A
Slide 46: Appendix
Appendix
Slide 47: Leading specialized digital wallet
Leading specialized digital wallet Consumer fees Merchant fees Blended take rate of ~2% Business model is unique and very profitable as this can be multiplied many times, depending on consumer profile Consumer transfers $150 to Merchant Merchant transfers $200 to Consumer FX on transactions Consumer
Slide 48: Digital Wallet segment overview
Digital Wallet segment overview $20bn 2020A Volume $395m 2020A Revenue 120+ Markets(1) 1.9% 2020A Take Rate 75% ’20A Gross Margin ~100% Online(3) ~$1bn Digital Wallet Balance(5) 3.5m Active Users(4) ~70 APMs(2) Market leadership and scale Attractive growth and mix Broad reach and deep expertise Dive
Slide 49: Digital Wallet: Millennial and sophisticated digital consumers
Digital Wallet: Millennial and sophisticated digital consumers Specialized Wallets, Payments, and P2P transfers I love to trade crypto and move money into multiple currencies. I enjoy sports betting and online poker at my favorite brands. My Skrill prepaid Mastercard means I can easily access my fun
Slide 50: eCash: Making cash available for digital commerce
eCash: Making cash available for digital commerce Find payment point A customer searches for the nearest sales outlet with the online store locator Buy The customer buys a paysafecard voucher in the preferred face value Pay By just entering the 16 digit paysafecard PIN, the customer can pay at thous
Slide 51: eCash segment overview
eCash segment overview 7.2% 2020A Take Rate ~100% Online(3) Market leadership and scale Attractive growth and mix Broad reach and deep expertise Proprietary digital currency solutions empowering online, mobile and in-app commerce for the cash consumer Enables consumers to use cash to pay for goods a
Slide 52: eCash: Serving Gen Z, Millennial and Underbanked consumers
eCash: Serving Gen Z, Millennial and Underbanked consumers across 50+(1) countries paysafecard is everywhere… I’m never far from topping up. I buy online but I pay in cash at my local convenience store. If I’m not playing, I’m streaming. I can pay cash for my whole online life. I pre-buy cash vouche
Slide 53: Processing segment overview
Processing segment overview Note:Integrated, ISV, Take Rate, SMB, POS and Online as defined on slide 62. (1)Nilson – Top Acquirers 2019 excluding bank or bank owned acquirers. (2)As of December 2020. (3)Based on FY2020A revenue. (4)Based on open merchant accounts as of December 2020. Market leadersh
Slide 54: Processing: Overview of distribution channels
Processing: Overview of distribution channels Revenue mix (2020) $277m $136m $306m eCommerce and Integrated Direct Distribution partners Full stack of integrated and eCommerce solutions partnering with leading ISV and eCommerce players Highly efficient, direct sales force accounting for ~30% of new
Slide 55: Non-GAAP measures definitions
This presentation includes Gross Profit (excluding depreciation and amortization), Gross Profit Margin (excluding depreciation and amortization), Adjusted EBITDA, Adjusted EBITDA margin, Free cash flow and Free cash flow conversion, which are supplemental measures that are not required by, or presen
Slide 56: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Basis of Presentation: The historical non-GAAP measures used in this presentation have been reconciled to their most directly comparable GAAP financial measures derived from the unaudited consolidated income statements of Pi Jersey Holdco 1.5 Limited for the years end
Slide 57: GAAP to Non-GAAP Reconciliation (cont'd)
GAAP to Non-GAAP Reconciliation (cont’d) Basis of Presentation: The historical non-GAAP measures used in this presentation have been reconciled to their most directly comparable GAAP financial measures derived from the unaudited consolidated income statements of Pi Jersey Holdco 1.5 Limited for the
Slide 58: GAAP to Non-GAAP Reconciliation (cont'd)
GAAP to Non-GAAP Reconciliation (cont’d) Basis of Presentation: The historical non-GAAP measures used in this presentation have been reconciled to their most directly comparable GAAP financial measures derived from the unaudited consolidated income statements of Pi Jersey Holdco 1.5 Limited for the
Slide 59: Impact of translation of results of non USD entities – FY 20
Impact of translation of results of non USD entities – FY 2020 ($ in millions, unaudited) 5% EUR weakening vs. USD Actual 2020 results 5% EUR strengthening vs. USD Revenue ($30) $1,426 +$30 Adjusted EBITDA (9) 426 +12 Interest on bank borrowings (3) 160 +3 A significant proportion of Paysafe’s busin
Slide 60: Q4 2020 and FY 2020 results
Q4 2020 and FY 2020 results ($ in millions, unaudited)
Slide 61: Quarterly selected information
Quarterly selected information Note:Amounts in table may not sum or calculate due to rounding. 2020A ($ in millions, unaudited) Q1 Q2 Q3 Q4 2020A Volume $23,746 $20,924 $23,999 $23,433 $92,101 Revenue 358 342 356 370 1,426 Gross Profit 229 216 220 226 892 SG&A 118 106 111 131 466 Adjusted EBITDA 111
Slide 62: Select balance sheet data (2019A, 2020A)
($ in millions, unaudited) 12/31/2019A 12/31/2020A Cash and Cash Equivalents $235 $388 Customer accounts and other restricted cash 1,151 1,376 Settlement receivables(1) 250 223 Accounts receivable 120 117 Other current assets(2) 135 98 Total current assets 1,891 2,202 Intangible assets, net 1,801 1,
Slide 63: Glossary: Summary of Definitions
Glossary: Summary of Definitions API Application Programming Interface APM Alternate Payment Methods Online Online refers to any transaction that significantly relies on online activity by the merchant or consumer. This includes, but is not limited to, online credit card purchases, merchant purchase