Slide 1: 2025 Full Year Results
17 March 2026 2025 Full Year Results For the year ended 31 December 2025 © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc.
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements contained in this report constitute "forward-looking statements." Forward-looking statements provide Boku’s current expectations of future events and trends based on certain assumptions and include any statement that does not directly relate to any curre
Slide 3: Profitable growth driven by scale, diversification and financial strength
Profitable growth driven by scale, diversification and financial strength Stuart Neal, CEO Rob Whittick, CFO 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 3
Slide 4: Delivering on our multi-year transformation journey
Delivering on our multi -year transformation journey Performance Operational Platform at scale transformation innovation • Strong growth in merchants, • Strengthened core finance, banking & • Launched an Innovation Hub in connections, Total Payment Volume settlements, risk and compliance Singapore,
Slide 5: Financial Highlights
Financial Highlights Rob Whittick CFO 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 5
Slide 6: A record year of growth
A record year of growth Revenue Adjusted EBITDA Adjusted EBITDA +30% Margin +29% CER* +36% +1.6pp $128.8m $41.3m 32.1% TPV Blended Take Rate Own Cash Growth** +27%+25% CER* +2bps +28% $15.7bn 82bps $102.9m *CER = Constant Exchange Rate **including $12.3m share buyback Note: All metrics vs. FY 24 202
Slide 7: Continuing to scale the network for our merchants
Continuing to scale the network for our merchants MAUs have more than doubled since FY22 TPV continues to grow with stable take rates • 132 payment connections delivered for new and existing merchants in • 27% increase in TPV compared to FY 2024 (25% increase on a CER basis) 2025 , enabling access t
Slide 8: Doubled FY22 revenues while continuing to diversify
Doubled FY22 revenues while continuing to diversify Revenue Merchant Diversification ($ millions) +30% +29% CER • We successfully onboarded new merchants in 2025 and commenced negotiations for a number of new merchant partnerships expected to start in 2026 128.8 99.3 82.7 63.8 Product Diversificatio
Slide 9: 36% increase in adjusted EBITDA supporting future growth
36% increase in adjusted EBITDA supporting future growth Adjusted EBITDA doubled from FY22 Strong increase in Operating Profit • Adjusted EBITDA margin of 32.1% for FY25 (FY 2024: 30.5%) • FY25 operating profit increased by $12.7 to $18.9m (FY 2024: $6.2m) • Includes c.$2.4m of currency conversion c
Slide 10: Growing adjusted EBITDA converting into Free Cash Flow
Growing adjusted EBITDA converting into Free Cash Flow Free Cash Flow Own Cash Growth • Free cash flow conversion of ~75% • Free cash flow is the primary driver of own cash growth of 28% year on year • $12.3m used to repurchase shares which are held in Treasury and can be • Working capital adjustmen
Slide 11: Cash generation driving financial flexibility and strength
Cash generation driving financial flexibility and strength Group Cash Own Cash • Group Cash balances increased by 39% to $245.6m (FY 2024: $177.3m) • Own Cash increased by 28% to $102.9m (FY 2024: $80.2m) • We continue to anticipate that cash balances will reduce as we increase • Includes the effect
Slide 12: Capital allocation strategy
Capital allocation strategy Organic Capital Inorganic growth returns growth Continued strategic execution: • Share buy backs to continue • Disciplined acquisitions • Deepen merchant • Shares held in treasury, in possible over the medium partnerships part, to satisfy staff equity term to support the
Slide 13: Reaffirming medium term guidance issued in March 2025
Reaffirming medium term guidance issued in March 2025 Organic Adjusted revenue growth EBITDA margin While annual growth rates may vary, We also expect an adjusted EBITDA we expect organic revenue growth margin exceeding 30% with exceeding 20% on a compound progressive accretion from 2026 annual grow
Slide 14: Strategic Update
Strategic Update Stuart Neal CEO 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 14
Slide 15: LPMs are taking over global commerce
LPMs are taking over global commerce Boku is benefitting from three concurrent market and economic tailwinds Global e -commerce on track for almost 1. Consumers choosing LPMs $11 trillion by 2028 Rapid consumer adoption of LPMs across all continents is creating new growth opportunities for merchants
Slide 16: Enabling growth ambitions of global merchants
Enabling growth ambitions of global merchants Merchant growth Boku platform Why Boku wins priorities • Geographic expansion Local payment methods • Trusted by the world’s leading tech, Via Direct Carrier Billing, media and entertainment • Acquire new consumers Digital Wallets and companies • Boost r
Slide 17: Continuing our growth strategy
Continuing our growth strategy Deepen Diversify Drive Build merchant revenues scalability platform of partnerships the future • Support geographic • Win new merchants in • Accelerate time to • Bring more currency expansion new segments revenue through conversion in -house • Cross -border money • Lau
Slide 18: Boku's compelling investment case
Boku’s compelling investment case Structural shift Unique global LPM Significant growth Strong FY25 to LPMs network trusted by potential financial position global merchants • Revenue +30% to $128.8m • c.$11trn market opportunity • Growing merchant base • LPM network connecting to through direct sale
Slide 19: Key Takeaways
Key Takeaways Record year of profitable growth Positioned at the +30% revenue heart of the global shift towards LPMs +36% adjusted EBITDA Continued Continued Reaffirming our investment diversification to scale the March 2025 across merchants medium -term platform and drive and products financial gui
Slide 20: Questions
Questions 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 20
Slide 21: Appendices
Appendices 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 21
Slide 22: Consolidated statement of profit and loss and other comprehensive income
Consolidated statement of profit and loss and other comprehensive income For the year ended 31 December 2025 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 22
Slide 23: Consolidated statement of financial position
Consolidated statement of financial position As at 31 December 2025 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 23
Slide 24: Consolidated statement of cash flows
Consolidated statement of cash flows For the year ended 31 December 2025 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 24
Slide 25: Capital Markets Event
Capital Markets Event October 2025 Presentation Link 2025 Full Year Results © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 25
Slide 26: © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is
© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc.