12 Nov 2021

Completes Twisto Acq as part of European Expansion Strategy

12 November 2021 Zip Completes the Acquisition of Twisto As Part Of European Expansion Strategy Zip Co Limited (ASX: Z1P) (“ Zip ”, or the “ Company ”) is pleased to announce today it has completed the acquisition of Twisto Payments a.s. (“Twisto”). Following shareholder approval at Zip’s AGM on Thursday, 4 November 2021, Zip has today completed the acquisition of the remaining shares of Central European BNPL provider, Twisto. The acquisition provides Zip with a gateway to one of the world's largest eCommerce markets and access to all 27 member states of the European Union (EU). Founded in 2013, Twisto has served almost one million customers, across 22,000 merchants and is a leading BNPL platform in Central Europe. The Company has developed a unique omnichannel payments platform, giving customers full control and the freedom to pay for their everyday purchases over short and longer-term installments. Some of Twisto’s ?agship merchants include KFC, Pizza Hut, Secret Escapes, Gap, New Balance, Delivery Hero, Takeaway, Yves Rocher and Under Armour. Under the terms of the Twisto acquisition, the Company has today issued 17,454,987 new shares to the securityholders of Twisto (and/or their nominees), such shares comprising the “Upfront Consideration Shares” approved by Zip’s shareholders at its 2021 Annual General Meeting. The upfront purchase price paid by the Company for the Twisto acquisition is approximately EUR73.8 million (A$115.8 million). 1 The Upfront Consideration Shares are issued at an issue price of A$6.61 based on a 30-day VWAP of one day prior to completion and an exchange rate of A$1.5697 per Euro. 1 On a fully diluted basis. In connection with the Twisto acquisition, and as also approved by Zip’s shareholders at its 2021 Annual General Meeting, Zip will also issue up to a maximum of 4,550,000 new shares to the Twisto securityholders (and/or their nominees) as “the Holdback Consideration Shares” by no later than the 4-year anniversary of completion. Refer to Zip’s Notice of 2021 Annual General Meeting for further information about these “Holdback Consideration Shares”. Release approved by the Chief Executive O?cer on behalf of the Board. – ENDS - For more information, please contact: Larry Diamond Chief Executive O?cer larry.diamond@zip.co Martin Brooke Chief Financial O?cer martin.brooke@zip.co Ma?hew Abbo? Director, Corporate A?airs ma?hew.abbo?@zip.co 0402 543 128 For general investor enquiries, email investors@zip.co About Zip ASX-listed Zip Co Limited (Z1P: ASX) or (“Zip”) is a leading global ?nancial services company, o?ering innovative, people-centred products that bring customers and merchants together. On a mission to be the ?rst payment choice everywhere and every day, Zip o?ers point-of-sale credit and digital payment services in 13 markets around the world, including through strategic investments, connecting millions of customers with its global network of tens of thousands of merchants. One of the fastest growing BNPL providers globally, Zip has a presence in Australia, Canada, Czech Republic, India, Mexico, New Zealand, the Philippines, Poland, Saudi Arabia, South Africa, UAE, the United Kingdom and the USA. Zip provides fair, ?exible and transparent payment options to individual consumers and SMBs, helping them to take control of their ?nancial future and helping merchants to grow their businesses. Zip is commi?ed to responsible lending and also owns Pocketbook, a leading personal ?nancial management tool. Founded in Australia in 2013, Zip now employs over 1,000 Zipsters worldwide. For more information, visit: www.zip.co About Twisto Twisto provides a smart solution for payments and purchases and, in 2013, was the ?rst to o?er BNPL payments to the Czech Republic. Twisto Pay allows customers to make online purchases with one click, without registration, and for free and pay for them within 14 days. Registered users can pay using a virtual or physical Twisto card (issued by MasterCard), make mobile payments with Apple Pay or Google Pay, pay bills by taking a picture of them, and easily split bills with friends using Twisto Split. With an account, users have 45 days to pay o? their purchases. Twisto also allows making purchases in installments with instant approval and paying for purchases in thirds with no interest. In 2018, the company also successfully entered the Polish market. www.twisto.cz
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