Slide 1: H1 FY26 Results Presentation
H1 FY26 Results Presentatio n 6 November 2025
Slide 2: 27WISC
27WISC
Slide 3: Welcome
Welcome Kristo Käärmann Kristo Käärmann Co-Founder and Chief Executive Officer Co-Founder and CEO
Slide 4: Progressing on our mission
Progressing on our mission Active Customers Million 18%
Slide 5: Progressing on our mission
Progressing on our mission Active Cross-border Customers Volume Million £ billion 18% 24%
Slide 6: Progressing on our mission
Progressing on our mission Active Cross-border Customer Customers Volume Holdings1 Million £ billion £ billion 18% 24% 37% 1 Customer holdings is the total of the amount of customer balances in the Wise account as well as the amounts invested in the ‘Assetsʼ feature. Holdings include Assets Under Cu
Slide 7: Progressing on our mission
Progressing on our mission Active Cross-border Customer Underlying Customers Volume Holdings1 income Million £ billion £ billion £ million 18% 24% 37% 13% 1 Customer holdings is the total of the amount of customer balances in the Wise account as well as the amounts invested in the ‘Assetsʼ feature.
Slide 8: Progress in the last six months
Progress in the last six months Pix BR) direct integration is live, Travel Hub Zengin JP) is imminent Accounts for under 18s New licenses approved to offer Interest in Brazil our products in the UAE Wise Business US — Regulatory infrastructure invoicing with card payments investments — instant onb
Slide 9: Faster, lower-cost payments enabled by our infrastructure
Faster, lower-cost payments enabled by our infrastructure Increased Speed Continued investments in price Payment speed Cross-border take rate Instant 20sec 1hr 24hrs Q2 FY21 Q2 FY22 Q2 FY23 Q2 FY24 Q2 FY25 Q2 FY26 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 10: Wise platform as driver of long-term volume
WISE PLATFORM AS DRIVER OF LONG-TERM VOLUME 9, c.5% 10%
Slide 11: Moving trillions as 'the' network for the world's money
Ready for designmain deck Moving trillions as ‘theʼ network for the worldʼs money Market leading international account for people andfor As ‘theʼ network businesses the worldʼs money The international account for people and businesses 11
Slide 12: £32tn addressable market
£32tn Note(s): Source: Based on Research by Edgar, Dunn & Company, December 2024 TAM has been converted into GBP 0.782742 FX rate USD/GBP
Slide 13: Wise is growing fast and profitable
Wise is growing fast and profitable Delivering on our commitment to sustainable growth Emmanuel Thomassin Chief Financial Officer 13
Slide 14: Delivering sustainable customer-driven growth
Delivering sustainable customer-driven growth Active Customers Cross-border Volume Customer Holdings1 million £ billion £ billion 21% CAGR 22% 34% CAGR CAGR 18% 24% 37% 25% 19% 31% 1 Customer holdings is the total of the amount of customer balances in the Wise account as well as the amounts in
Slide 15: Strong financial performance, investing for growth
Strong financial performance, investing for growth Underlying Income Underlying Profit Profit before tax £ million before tax margin1 % % 16% CAGR 0.6pps 15% CAGR 13% 13% 51% 5.3pp 5.9pp 19% 1 Includes c.£11.5 million of listing expenses.
Slide 16: Sustained active customer growth
Sustained active customer growth Personal Active Customers Business Active Customers Million Thousands 22% 14% CAGR CAGR 18% 17% 25% 11% Active customers: total number of unique customers who have completed at least one cross-currency transaction in a given period
Slide 17: Customer growth drives more volumes
Customer growth drives Cross Border Volume1 £ billion more volumes 22% CAGR 24% 19% 26%ccy Platform 21%ccy c.5% Business Personal Notes: 1Defined as volume of transactions where the source currency and target currency are different. Differences between ‘totalʼ and the sum of the constituent comp
Slide 18: Cross-border volume drives continued revenue growth
Cross-border volume drives continued revenue growth Cross-border revenue Cross-border take rate £ million % 7% CAGR 5% 9% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 H1 FY24 H1 FY25 H1 FY26
Slide 19: Increased adoption of the Wise Account with higher card usage
Increased adoption of the Wise Account with higher card usage Card spend Card revenue £ billion £ million 33% CAGR 33% CAGR 28% 27% 38% 38%
Slide 20: Growth in customer balances generates higher interest income
Growth in customer balances generates higher interest income Customer Holdings1 Interest income on customer balances £ billion £ million 34% CAGR 19% CAGR Assets under custody Interest income above 1% Customer balances Underlying Interest 37% income (first 1% 42% 1% Avg. yield 4.10% Avg. yield 3
Slide 21: Diversification of underlying income
Diversification of underlying income 41% non-cross) driven by Wise Account Underlying income Underlying income mix £ million % Underlying interest income Other revenue Card revenue Cross border revenue
Slide 22: Geographically diversified underlying income
Geographically diversified Underlying income geographical mix % underlying income
Slide 23: Our investments fuel growth and efficiency
Our investments 1 fuel growth and efficiency, Target 1316% which create Underlying PBT margin further capacity for more 4 2 investment Reinvestment brings Margin improvement Underlying PBT margin due to operational back towards 1316% efficiency and scaling 3 Reinvestment of the incremental margin
Slide 24: Investing to service and onboard
Investing to service Servicing investment £ millon and onboard Live support in 1min1 a growing 70% 20% customer base in Oct ‘25 NPS 69 Notes: 1: live support in 1 minute; all back office operations in 1 hour
Slide 25: Targeted marketing investments
Targeted marketing Marketing and sales investment £ millon investments Word of mouth to acquire 59% customers 70% and build the Wise brand Payback period1 6 months Notes: 1 Excludes investment in brand investment, includes word of mouth
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Slide 27: Investments drive strong customer acquisition
Investments drive strong New Active customers Million customer 13% CAGR acquisition 14% 13% Active customers: total number of unique customers who have completed at least one cross-currency transaction in a given period
Slide 28: Tech and product development for growth
Tech and product Tech and development investment £ million development for growth 18% and improved customer experience
Slide 29: General and administrative — building foundations for long-term growth
General and administrative General and administrative investment — building the £ millon foundations 35% for long-term growth
Slide 30: Delivering a sustainable, profitable underlying business model
Delivering a sustainable, Underlying profit before tax margin1 % profitable underlying business model Target 1316% margin range 1 Includes £11.5m of listing costs in H1 FY26.
Slide 31: Additional interest income contributes to higher reported profit before tax
Additional interest income Profit before tax £ million contributes to higher reported profit before tax Note:* Includes £11.5m of listing costs; ** c.30 related to the UK
Slide 32: Continuing to target strong growth and healthy levels of profitability
Continuing to target strong growth and healthy levels of profitability 1520% underlying FY26 around 16% income growth in FY26 underlying PBT margin and as a CAGR over excl. one-off listing expenses the medium term CCY
Slide 33: Capital allocation framework
Capital allocation framework Underlying Income growth Prudent Return of capital + management of To date in FY26, have Sustainable profitability profile strong levels repurchased c.50% + of capital and cash of shares of announced FCF generation share repurchase
Slide 34: Strong fundamentals — executing on our strategy
Strong fundamentals — executing on our strategy 13m+ £85bn £25bn+ Active customers Cross-border volume Customer holdings1 18%YoY 24%YoY 37%YoY 52bps Cross-border take rate £750m Underlying income 16.3% Underlying PBT margin2 10bps YoY 13%YoY 6pp YoY 1 Customer holdings is the total of
Slide 35: 27WISC
27WISC
Slide 36: Fireside chat
Fireside chat Kristo Käärmann Emmanuel Thomassin Co-Founder and CEO Chief Financial Officer
Slide 37: Disclaimer
Disclaimer This document and any accompanying materials or presentation may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, any statements preceded by, followed by or including words su
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Slide 39: Continuing to expect strong growth and healthy levels of profitability
Continuing to expect strong growth and healthy levels of profitability 1520% underlying income growth in FY26 and as a CAGR over the medium term Growth Driven by customer growth from investments including reductions in price Targeting 1316% of underlying income 13% incl. £35m in dual-listing exp
Slide 40: Capital allocation framework
Capital allocation framework Underlying Income growth Prudent management Sustainable profitability Return of strong levels of profile of capital capital and cash At Owners Day we announced £1.15bn H1 FY26 regulatory capital1, incremental c.25m one-off purchase well in excess of required levels of sh
Slide 41: Our investments fuel growth and efficiency, which create further capacity
Our investments fuel growth and efficiency, which create further capacity for more investment Target 1316% Underlying PBT margin Margin improvement Reinvestment brings Underlying PBT due to operational efficiency and margin back towards 1316% scaling Reinvestment of the incremental margin in produ
Slide 42: Increased adoption of the Wise Account with higher card usage
Increased adoption of the Wise Account with higher card usage Card spend Card revenue £bn £m 28% 33% 27% 33% 38% CAGR CAGR 38%
Slide 43: Delivering sustainable customer-driven growth
Delivering sustainable customer-driven growth Active Customers Cross-border Volume Customer Holdings1 Million £ billion £ billion 31% 21% 34% CAGR 18% CAGR CAGR 37% 24% 25% 19% 31% 1 Customer holdings is the total of the amount of customer balances in the Wise account as well as the amounts in
Slide 44: Strong financial performance, investing for growth
Strong financial performance, investing for growth Underlying Profit before Underlying Income Profit before tax tax margin1 £ million % % 16% 60bps 15% CAGR CAGR 51% 13% 13% 5.9pp 5.3pp 19% Take rate 1 Includes £11.5m of listing costs in H1 FY26.
Slide 45: Sustained active customer growth
Sustained active customer growth Personal Active Customers Business Active Customers Million Thousands 22% 18% 14% 17% CAGR CAGR 25% 11% Active customers: total number of unique customers who have completed at least one cross-currency transaction in a given period
Slide 46: Customer growth drives more volumes
Customer growth drives Cross Border Volume1 £bn more volumes 24% 26% ccy Platform c.5% 22% 19% CAGR 21% ccy Notes: 1Defined as volume of transactions where the source currency and target currency are different. ¹Comparison is H1 FY26 vs H1 FY25. Additional comments: FY25 YoY growth is 25% on a c
Slide 47: Cross-border volume drives continued revenue growth
Cross-border volume drives continued revenue growth Cross-border revenue Cross-border take rate £, Million % 7% 5% CAGR 9%
Slide 48: Diversification of underlying income
Diversification of underlying income 41% non-cross) driven by Wise Account Underlying income Underlying income mix £m % YoY 30% YoY 22% YoY 5% YoY 28%
Slide 49: Cost growth reflective of a growing business
Cost growth reflective of a Administrative expenses1 growing business £m as we invest 27% more and serve 25% CAGR 24% more customers Includes c.£11.5m of listing costs Notes: [1Administrative expenses comprise Marketing, Technology and development, Consultancy and outsourced services , Other adm
Slide 50: We have a highly profitable underlying business model
We have a highly profitable Underlying profit before tax margin1 % underlying business model Target 16% margin range 13% 1 Includes £11.5m of listing costs in H1 FY26.
Slide 51: Additional interest income contributes to higher reported profit before tax
Additional interest income Profit before tax £m contributes to higher reported profit before tax Note:* c.30 related to the UK
Slide 52: Investing to service and onboard a growing customer base
Investing to service and onboard a growing customer base 20% Customer contacts 4.1m 4.8m H1 FY24 H1 FY25 Servicing expenses £m
Slide 53: Targeted marketing investments to acquire customers and build the Wise brand
Targeted marketing investments to acquire customers and build the Wise brand 59% 70% 12 word month of mouth payback period Marketing and sales expenses £m
Slide 54: Tech and product development for growth and improved customer experience
Tech and product development for growth and improved customer experience 18% Tech and development expenses £m
Slide 55: Targeted marketing investments to acquire customers and build the Wise brand
Targeted marketing investments to acquire customers and build the Wise brand Marketing and sales expenses Areas of investment £m ● Focus on value-driven marketing ● Increased investment in business marketing 59% ● Relentless focus in payback economics ● Increased Investment in upper funnel market
Slide 56: General and administrative — building the foundations for long-term growth
General and administrative — building the foundations for long-term growth General and administrative expenses £m 47% Areas of investment ● Continued investment to drive global scale ● Increased investments in compliance ● Setting up the right structure ahead of US listing ● Investment in risk ma
Slide 57: Cross-border volume drives continued revenue growth
Cross-border volume drives continued revenue growth Cross-border revenue Cross-border take rate £ million % 7% CAGR 5% 9% H1 FY24 H1 FY25 H1 FY26
Slide 58: Faster, lower-cost payments enabled by our infrastructure
Faster, lower-cost payments enabled by our infrastructure Increased Speed Continued investments in price Payment speed Cross-border take rate Instant 20sec 1hr 24hrs