Announcement PDF ASX Release | 24 July 2025 Q4 FY25 Quarterly business update Revenue up 18% on pcp and positive underlying EBTDA1 in FY25 QuickFee Limited (ASX: QFE) (“QuickFee”, “Company”) today announces a business update for the quarter ended 30 June 2025 (Q4 FY25). Q4 FY25 HIGHLIGHTS • Record quarterly revenue of A$ 7.2 million, up 18% on the prior corresponding period (pcp): Reflecting 20% growth in US Pay Now revenue and 22% growth in AU Finance revenue • New subscription revenue streams on Connect platform: Total firm invoices delivered via Connect up 65% quarter-on-quarter to 61,000 and up 408% on pcp. Annualised Recurring Revenue (ARR) from Connect subscriptions currently at US$ 413,000. • Positive underlying EBTDA in FY25, excluding provision for one-off credit loss provision (see ASX release dated 4 June 2025) • Refinancing completed in June 2025 including an A$ 118 million asset-backed receivables facility and an A$ 5 million term loan facility agreement • Successful completion of oversubscribed Share Purchase Plan (SPP) to raise $A 282,000 at 5cps, following an A$ 1.25 million placement to raise a total of A$ 1.532 million to fund loan book growth • On track for previously issued earnings guidance of FY25 statutory EBTDA in the range of -A$ 0.8 million to -A$ 1.8 million. Q4 FY25 PERFORMANCE2 Q4 FY25 Q4 FY24 YEAR-ON-YEAR MOVEMENT REVENUE US FINANCE (PAY OVER TIME) US PAY NOW (ACH & CARD) AU FINANCE (PAY OVER TIME) GROUP REVENUE INCLUDING ANCILLARY PRODUCTS US$ 0.7 M US$ 1.8 M A$ 2.9 M A$ 7.2 M US$ 0.7 M US$ 1.5 M A$ 2.3 M A$ 6.1 M +20% +26% +18% TOTAL TRANSACTION VALUES (TTV) US FINANCE (PAY OVER TIME) US PAY NOW (ACH & CARD) AU FINANCE (PAY OVER TIME) US$ 4.8 M US$ 472 M A$ 17.9 M US$ 6.3 M US$ 432 M A$ 17.0 M -24% +9% +5% QUARTERLY BUSINESS UPDATE PRESENTATION To watch an accompanying presentation of the quarterly business update and ask any questions, please visit the QuickFee investor hub here: investorhub.quickfee.com/business-updates Excluding one-off provision expense of US$2.2 million (A$ 3.3 million) for credit impairment (see ASX release dated 4 June 2025) 2 Q4 FY25 financial results are unaudited 1 QuickFee Limited (ACN: 624 448 693) 1 YEAR-ON-YEAR MOVEMENT FY25 FY24 US FINANCE (PAY OVER TIME) US$ 3.0 M US$ 2.6 M +15% US PAY NOW (ACH & CARD) US$ 5.3 M US$ 4.7 M +13% AU FINANCE (PAY OVER TIME) GROUP REVENUE INCLUDING ANCILLARY PRODUCTS A$ 10.9 M A$ 25.2 M A$ 7.9 M A$ 20.3 M +38% +24% US FINANCE (PAY OVER TIME) US$ 29.1 M US$ 26.7 M +9% US PAY NOW (ACH & CARD) US$ 1,527 M US$ 1,365 M +12% AU FINANCE (PAY OVER TIME) A$ 63.7 M A$ 55.5 M +15% FY25 PERFORMANCE3 REVENUE TOTAL TRANSACTION VALUES (TTV) GROUP REVENUE COMMENTARY In Q4 FY25, QuickFee delivered a third consecutive quarter of record revenue of A$ 7.2 million, up 18% on pcp. QuickFee group revenue by quarter continues to trend upwards, with the ‘last 12 months’ rolling group revenue of A$25.2 million in Q4 FY25, up 24% on pcp. Revenue is seasonally stronger in Q2 and Q4 each fiscal year. 'LAST 12 MONTHS' ROLLING GROUP REVENUE (A$M) 15.8 Q1 FY24 18.5 17.2 20.3 Q2 FY24 Q3 FY24 Q4 FY24 21.7 22.7 Q1 FY25 Q2 FY25 24.1 Q3 FY25 Q4 FY25 GROUP REVENUE BY QUARTER (A$M) 6.1 4.2 Q1 FY24 3 5.1 4.9 Q2 FY24 Q3 FY24 Q4 FY24 5.6 Q1 FY25 6.2 Q2 FY25 25.2 6.3 7.2 Q3 FY25 Q4 FY25 FY25 financial results are unaudited QuickFee Limited (ACN: 624 448 693) 2 US COMMENTARY The US business continued to perform well in Q4 FY25, with US Pay Now revenue (including both ACH and Card) up 20% on pcp to US$ 1.8 million (Q4 FY24: US$ 1.5 million). US Pay Now TTV increased 9% on pcp to US$ 472 million (Q4 FY24: US$ 432 million). In the past quarter, the key driver of volume growth and margin expansion in US Pay Now was the Connect platform. The development, roll-out and scalability of the Connect platform has been a core focus over the past year, and it is expected that the contribution of Connect will continue to grow over time. QUICKFEE CONNECT (US only) QuickFee Connect offers a scalable Accounts Receivable solution that is designed specifically for accounting firms with a competitive subscription pricing model. It delivers an ecosystem for firms that want to build their own tech stack with deep functionality. Connect automatically emails firms’ invoices to their clients with a link to the QuickFee portal to enable all einvoice recipients to pay over time with QuickFee’s Finance product or pay in full via EFT/Card. By delivering up to 100% of firms’ invoices electronically and directing more of firms’ clients to pay online rather than by check, Connect drives both new subscription revenue streams and increases all products’ TTV. New subscription revenue streams on Connect platform In Q4 FY25, the transaction volumes on the Connect platform continued to scale with over 61,000 invoices delivered, up 65% on the previous quarter and up 408% in the past year. QuickFee charges clients a subscription fee to access the Connect platform and Annualised Recurring Revenue (ARR) from Connect subscriptions is now US$ 413,000, with the potential to grow significantly throughout FY26. QuickFee now has 60 active clients onboarded onto the Connect platform, with a further pipeline of approximately 30 customers which have signed up and are in various stages of onboarding. In Q4 FY25, QuickFee successfully transitioned the majority of early adopting firms which were initially offered a free subscription, to paid Connect subscribers. Through this migration process, several firms declined the opportunity to transition to a paid subscription, resulting in a slight decrease in Connect customer numbers. Accelerated sales and marketing activities are rapidly expanding the pipeline of prospects, and we anticipate strong continued growth in Connect subscription ARR over time. INVOICES SENT VIA CONNECT 61,000 37,000 6,000 Q3 FY23 13,000 12,000 Q4 FY24 Q1 FY25 QuickFee Limited (ACN: 624 448 693) 17,000 Q2 FY25 Q3 FY25 Q4 FY25 3 QUICKFEE FINANCE In Q4 FY25, US Finance (Pay Over Time) revenue was stable at US$ 0.7 million (Q4 FY24: US$ 0.7 million) and US Finance TTV was down 24% on pcp to US$ 4.8 million (Q4 FY24: US$ 6.3 million). US Finance TTV was adversely impacted by the termination of new loan originations from one US firm who defaulted on its repayments, resulting in a one-off provision of US$ 2.2 million (A$ 3.3 million) for credit impairment in FY25 (see ASX release dated 4 June 2025 for more details). QUICKFEE FINANCE The Finance product allows clients to pay over 3, 6, 9 or 12 months while the firm gets paid in full within three business days at no cost to the firm, usually with no credit approval process for the client. Revenue is generated from the interest paid by the clients of professional services firms when they take out a payment plan to pay the fee invoices they receive. The Finance product has revenue yields that are ~25x greater than the Pay Now product. As revenue is recognised over the life of the loan term (the US weighted average loan term in FY25 was 9.4 months), TTV growth in any quarter will positively impact revenue in both current and future quarters. US FINANCE 'LAST 12 MONTHS ROLLING' TTV (US$M) 22.0 Q1 FY24 24.4 26.2 26.7 Q2 FY24 Q3 FY24 Q4 FY24 27.5 Q1 FY25 29.8 30.6 Q2 FY25 Q3 FY25 Q4 FY25 US FINANCE REVENUE (US$000s) 561 Q1 FY24 646 709 714 Q2 FY24 Q3 FY24 Q4 FY24 QuickFee Limited (ACN: 624 448 693) 659 Q1 FY25 739 Q2 FY25 29.1 903 708 Q3 FY25 Q4 FY25 4 US OPERATIONAL METRICS US Active firms grew to 711 (Q4 FY24: 688) and US transaction numbers grew 6% on pcp. US FINANCE TTV (US$M) US PAY NOW TTV (US$M) US ACTIVE FIRMS US TRANSACTIONS IN QUARTER (000s) Acting President, North America, James Drummond said: “We are really pleased to see the Connect platform deliver increased e-invoicing volumes, up 65% quarter-on-quarter, and the establishment of new recurring, high-margin subscription revenues. We are confident in the scalability of this platform over time, as we continue to onboard new clients and increase transaction volumes on the platform. The product is delivering significant value to customers as it automates the entire invoicing and payments process for accounting firms.” Inbound enquiries for the US business As previously reported in QuickFee’s mid Q4 FY25 business update on 4 June 2025, the Company has recently received unsolicited approaches from third parties in relation to the potential acquisition of all or part of QuickFee’s US business. Initial confidential discussions are being held with such parties however there is no assurance that these discussions will lead to a sale or any other particular outcome. QuickFee Limited (ACN: 624 448 693) 5 AUSTRALIA (AU) COMMENTARY The Australian business remained strong in Q4 FY25, with AU Finance revenue up 26% on pcp to A$ 2.9 million (Q4 FY24: A$ 2.3 million). This revenue growth was driven by a 5% increase in AU Finance TTV to A$ 17.9 million (Q4 FY24: A$ 17.0 million) and continued revenue yield expansion, with the loan book growing to A$ 47.2 million as at 30 June 2025. QUICKFEE FINANCE AU FINANCE 'LAST 12 MONTHS' ROLLING TTV (A$M) 48.5 Q1 FY24 53.4 51.2 55.5 Q2 FY24 Q3 FY24 Q4 FY24 60.1 61.8 Q1 FY25 Q2 FY25 AU FINANCE REVENUE (A$000s) 1,693 Q1 FY24 1,914 2,014 2,274 Q2 FY24 Q3 FY24 Q4 FY24 62.8 63.7 Q3 FY25 Q4 FY25 2,857 2,651 2,703 2,682 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 AU OPERATIONAL METRICS Transaction numbers in Q4 FY25 increased 25% on pcp to 20,000 and the number of Active Firms transacting in the quarter increased by 3% on pcp to 490 (Q4 FY24: 477). AU FINANCE TTV (A$M) AU PAY NOW TTV (A$M) QuickFee Limited (ACN: 624 448 693) AU ACTIVE FIRMS AU TRANSACTIONS IN QUARTER (000s) 6 The ‘Q Pay Plan’ BNPL product also continued to grow strongly with Q4 FY25 TTV up 45% to A$ 1.6 million on pcp (Q4 FY24: A$ 1.1 million), bringing total BNPL TTV for FY25 up 76% on pcp to A$ 6.0 million (FY24: A$ 3.4 million). In response to the recent legislated changes requiring BNPL operators in Australia to hold an Australia Credit Licence (ACL), QuickFee has submitted an application to ASIC which is still in the process of being formally approved. In the meantime, ASIC has granted a transitional period to any applicant, which will allow the Company to continue to offer BNPL products. BALANCE SHEET AND LIQUIDITY A$ 118 million refinancing completed and funding closed QuickFee has completed the refinancing of its asset-backed debt facilities, partnering with global alternative credit asset manager Viola Credit (“Viola”) and funding has been drawn. The asset-backed receivables financing facility (“Viola Credit Facility”) consists of a three-year A$ 118 million senior secured revolving credit facility, comprising initial committed amounts of A$ 45 million and US$ 15 million and with additional optional committed amounts of A$ 25 million and US$15 million, subject to Viola’s approval. The debt is secured over certain identified loan receivables of QuickFee’s Australian and US business. The new three-year asset-backed facility has replaced the current US$ 40 million Northleaf Capital Partners and the A$ 10 million Wingate Corporate Investments facilities. QuickFee also closed a A$5 million term loan facility agreement (“Fancourt Term Loan”) with a fund of Fancourt Capital Group (“Fancourt”), a specialist financial services growth investor. While the Company is generating positive underlying EBTDA, and expects to continue to do so, QuickFee funds approximately 10% of loan originations from its own cash reserves and the funds raised will be used to fund further loan book growth in both markets, in order to support the positive momentum in the business. See separate ASX release dated 4 June 2025 for more details. Oversubscribed Share Purchase Plan, finalising A$1.532 million capital raise QuickFee received eligible applications under the SPP totalling A$282,000 and expanded the SPP to that amount to enable all participants to receive the full amount of their application. Following the completion of the SPP, together with the proceeds of the share placement earlier in June 2025, QuickFee raised A$1.532 million at 5cps before transaction costs. See separate ASX release dated 4 June 2025 for more details. At 31 March 2025, the Company had A$ 6.9 million unrestricted cash on hand, with borrowing growth capacity of a further A$ 16.6 million from the new facilities available to fund future loan book growth. The Company’s recent refinancing of its debt facilities, along with the recently completed $1.532 million capital raise (the last tranche of which was completed via shareholder approval on 22 July 2025), has substantially increased the Company’s liquidity and borrowing capacity. QuickFee Limited (ACN: 624 448 693) 7 FY25 EARNINGS GUIDANCE QuickFee provides the following guidance on its results for the full financial year ended 30 June 20254. FY24 reported FY25 A$ REVENUE 25.0 M TO 25.5 M 20.3M GROSS PROFIT 16.0 M TO 16.5 M 12.6M OPERATING EXPENSES5 14.0 M TO 14.5 M 15.8M 1.5 M TO 2.5 M (3.2) M (3.3 M) - (0.8 M) TO (1.8 M) (3.2M) (3.2 M) (1.5 M) (4.0 M) TO (5.0 M) (4.7) M UNDERLYING EBTDA (AFTER INTEREST ON LOAN BOOK BORROWING FACILITIES) NON-RECURRING PROVISION FOR EXPECTED CREDIT LOSSES6 STATUTORY EBTDA (AFTER INTEREST ON LOAN BOOK BORROWING FACILITIES) DEPRECIATION AMORTISATION AND FINANCE COSTS7 NET (LOSS) AFTER TAX OUTLOOK Non-executive Chairman Dale Smorgon said: “We enter FY26 with strong revenue momentum, fast-growing new subscription revenue streams from the Connect platform and a strengthened balance sheet to fund ongoing growth in our loan book. Importantly, the business continues to deliver strong growth in accordance with our strategic plan. Our underlying EBTDA in FY25 was positive, and we are disappointed with the one-off credit impairment related to one US firm, which prevented us from achieving statutory operating profitability in FY25. Our business fundamentals remain robust and we are confident that the continued execution of our growth strategies will result in the profitable growth of our loans books and payments and software businesses in both the US and Australia.” This announcement has been authorised for release by the directors. — END — For further information please contact: Corporate: Simon Yeandle, CFO p : +61 2 8090 7700 e : simon.yeandle@quickfee.com Investors: Katie Mackenzie p : +61 455 502 197 e : kmackenzie@belleviewir.com.au All figures shown are unaudited. Operating expenses consist of general and administrative, selling and marketing, customer acquisition and product development expenses and net operating foreign exchange gains/losses, but exclude depreciation and amortisation and nonrecurring provisions for expected credit losses. FY25 operating expenses in US dollars (USD) are expected to be converted to Australian dollars (AUD) at an average USD:AUD exchange rate of 0.648:1. 6 One-off provision expense of US$2.2 million (A$ 3.3 million) for credit impairment (see ASX release dated 4 June 2025). 7 Includes accelerated amortisation of costs associated with the establishment in prior years of the Northleaf and Wingate borrowings facilities, as a result of the early replacement of these facilities with the Viola Credit Facility and Fancourt Term Loan. See earlier in this announcement for more details. 4 5 QuickFee Limited (ACN: 624 448 693) 8 ABOUT QUICKFEE QuickFee (ASX: QFE) is a fast-growing financial technology company. Our mission is to help professional service firms accelerate their accounts receivables and get paid faster. With multiple online payment options and powerful e-invoicing integrations for practice management systems, the QuickFee platform speeds up the bill-to-cash cycle for firms. Through the QuickFee portal, clients can pay their professional service provider with a credit or debit card, EFT or ACH transfer, or a payment plan over 3-12 months. It allows the client to set their own pace for payments while the firm gets paid upfront and in full. QuickFee operates in the United States and Australia and focuses on serving the accounting and legal professions. For more information, please visit quickfee.com or the QuickFee investor hub at investorhub.quickfee.com. QUICKFEE INVESTOR HUB To stay up to date with the latest news and announcements, access investor-related resources including ASX releases, video updates, educational material and insights into the QuickFee’s activities, people and strategic direction, and interact with QuickFee by posting questions and feedback, we encourage investors to sign up to the QuickFee investor hub. • Visit the QuickFee investor hub at investorhub.quickfee.com or scan the QR code here: • • Sign up for a QuickFee investor hub account at investorhub.quickfee.com/auth/signup Post questions and feedback in the Q&A section. QuickFee Limited (ACN: 624 448 693) 9 APPENDIX DETAILED OPERATIONAL & FINANCIAL METRICS US FINANCE TTV IN US$M REVENUE IN US$000s Q4 FY25 Q4 FY24 % +/- FY25 FY24 % +/- TTV 4.8 6.3 -24 29.1 26.7 +9% Financing revenue (interest) Payments and other revenue 661 47 673 41 -2% +15% 2,829 180 2,475 155 +14% +16% Total revenue 708 714 -1% 3,009 2,630 +14% 14.8% 11.3% +342 bps 10.3% 9.9% +40 bps Total revenue/volume yield % US PAY NOW TTV US PAY NOW 'LAST 12 MONTHS' ROLLING TTV (US$M) 1,190 Q1 FY24 1,242 1,286 1,444 1,406 1,365 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 1,487 1,527 Q3 FY25 Q4 FY25 US ACH REVENUE US ACH REVENUE (US$000s) 1,108 1,173 943 916 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 831 Q1 FY24 1,300 TTV IN US$M REVENUE IN US$000s Q4 FY25 Q4 FY24 Q2 FY25 1,342 1,036 Q3 FY25 Q4 FY25 % +/- FY25 FY24 % +/- TTV 393 360 +9% 1,260 1,128 +12% Total revenue 1,342 1,300 +3% 4,467 4,182 +7% Total revenue/volume yield % 0.34% 0.36% -2 bps 0.35% 0.37% -2 bps QuickFee Limited (ACN: 624 448 693) 10 US CARD REVENUE US CARD REVENUE (US$000s) 199 103 Q1 FY24 452 108 99 124 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 110 TTV IN US$M REVENUE IN US$000s Q4 FY25 Q4 FY24 121 Q3 FY25 Q4 FY25 % +/- FY25 FY24 % +/- TTV 79 72 +10% 267 237 +13% Total revenue 452 199 +127% 796 520 +53% 0.57% 0.28% +29 bps 0.30% 0.22% +8 bps Total revenue/volume yield % US Card revenue is the net revenue share QuickFee receives from its card processors, not the gross amount surcharged to customers. In Q4 FY25 QuickFee’s card processor back-paid US$ 174,000 of card revenue share that had been omitted from FY24 and FY25 revenue share payments. FY25 US OPERATIONAL METRICS US FINANCE TTV (US$M) US PAY NOW TTV (US$M) QuickFee Limited (ACN: 624 448 693) US ACTIVE FIRMS US TRANSACTIONS IN QUARTER (000s) 11 AU FINANCE TTV IN A$M REVENUE IN A$000s Q4 FY25 Q4 FY24 % +/- FY25 FY24 % +/- TTV 17.9 17.0 +5% 63.7 55.5 +15% Financing revenue (interest) Payments and other revenue 2,629 228 2,087 187 +26% +22% 10,025 878 7,178 717 +40% +22% Total revenue 2,857 2,274 +26% 10,903 7,875 +38% Total revenue/volume yield % 16.0% 13.4% +260 bps 17.1% 14.2% +290 bps FY25 AU OPERATIONAL METRICS AU FINANCE TTV (A$M) AU PAY NOW TTV (A$M) AU ACTIVE FIRMS AU TRANSACTIONS IN QUARTER (000s) QUICKFEE LOAN BOOKS QuickFee Limited (ACN: 624 448 693) 12 GLOSSARY OF TERMS ACH Automated Clearing House ACTIVE FIRM Any firm that has had a transaction with QuickFee in the relevant period APR Annual percentage rate The annual rate of interest on payment plans or loans BNPL OR Q PAY PLAN BNPL powered by QuickFee QuickFee’s ‘Buy Now, Pay Later’ product to enable a customer to pay their invoice in 3-12 instalments using the unused balance of their credit card CARD / CC Debit / Credit card CONNECT QuickFee’s product name for its point-of-payment integration, e-invoicing, automated collections and receivables management product CUSTOMER The customer of a merchant, who will use one of QuickFee’s payment options to pay their invoice EFT Electronic funds transfer FIRM Typically used to describe a professional services firm (e.g. an accounting or law firm) KYC Know your customer MERCHANT A firm. QUICKFEE PAY NOW QuickFee’s payment gateway that enables customers to pay their invoice in full to the merchant with or without taking out a payment plan QUICKFEE FINANCING/ FINANCE/ LENDING/ PAY OVER TIME QuickFee’s traditional merchant-guaranteed fee funding product that enable customers to take out a payment plan to pay their invoice, while QuickFee settle to the merchant immediately REVENUE YIELD Revenue recognised in accordance with QuickFee’s accounting standards, divided by TTV, for the relevant product(s) TOTAL LIQUIDITY Cash and cash equivalents held, plus undrawn borrowings that are available to be drawn from QuickFee’s asset-backed credit facility based on the quantum of eligible loan receivables. TRANSACTIONS IN QUARTER The aggregate number of completed Pay Now transactions and new Finance loans (payment plans) originated in the relevant quarter. PCP Previous corresponding period For example, the pcp for the December 2024 quarter is the December 2023 quarter TTV Total transaction value The total value of all transactions for the relevant product(s) QuickFee Limited (ACN: 624 448 693) A type of electronic bank-to-bank payment in the US, equivalent to EFT in Australia An Australian domestic payments network that facilitates the transfer of funds electronically Practice to verify the identity of customers in compliance with laws and regulations 13