impossible for us to predict with certainty the impact that COVID-19 will have on our business and
operations in the future. For example, we cannot estimate the impact that the ongoing wave of the
Omicron variant of COVID-19 (or any future variants) could have, including further lockdowns and
other effects on our business and field operations.

The COVID-19 pandemic has affected, and may continue to affect, our business, results of operations
and financial condition in a number of ways, such as:

e reluctance to use cash in transactions, and therefore less withdrawal of cash from ATMs in
general as a result of significantly reduced movement;

e the reduction in demand for and usage of our cash management services, including especially
our cash pick-up, door-step banking and cash in transit services, as a result of a reduction in the
number of ATM transactions and closure of all major non-essential organised retail stores;

* usage overload of certain of our user platforms, applications, servers and other infrastructure
due to increased usage of our digital payments solutions;

e decreased usage of our transit-linked payment solutions, such as FastLane, as a result of
reduced movement and travel;

e decreased usage of our POS-based solutions across our POS network, due to reduced
movement and in-person purchases with our merchants;

e difficulty in setting up and expanding our POS-based solutions, due to restrictions on venue
capacity and travel;

e adverse effects to our growth rates and on profitability and cash flows, particularly if our
operating expenses do not decrease at the same pace as revenue declines; we may not be able to
decrease our expenses significantly in the short- term and as such would need to suffer delays
in making payments, or we may choose not to significantly reduce them in an effort to remain
focused on long-term outlook and investment opportunities;

«increased vulnerability to cyber-security threats and potential breaches, including phishing
attacks, malware and impersonation tactics, resulting from the increase in numbers of
individuals working from home;

© uncertainty regarding the conditions that must be satisfied before government authorities
completely lift “stay-at-home” orders and further imposition of such orders as a result of the
resurgence of COVID-19 since March 2021;

e delays in its trade receivable collection, thereby leading to a delay in its remittance of liabilities
including goods and service tax (GST) dues and consequential
suspension/cancellation/inactivation in certain states;

«potential negative impact on the health and safety of our personnel, particularly because a
number of them were and could in future be afflicted by COVID-19, which could result in a
deterioration in our ability to ensure business continuity during this disruption; and

e the rapid shift to remote working and social distancing created inherent operational,
productivity, connectivity and oversight challenges; accordingly, the changed environment
under which we are operating could have an adverse effect on our internal controls over
financial reporting, our ability to ensure business continuity during this disruption, our ability
to meet a number of our compliance requirements in a timely manner, and the operations of our
customers and other third parties.

In response to the COVID-19 pandemic, we initiated business continuity processes, such as increasing
our focus on digital initiatives and increasing our digital footprint, specifically in the OMC sector. We
also initiated tracking procedures, enforced restrictions on business travel and circulated advisory notices
and instructions to all employees. Should we continue to experience the impact of the COVID-19
pandemic, including in connection with the “second wave”, we may be unable to continue to track,
monitor and assist employees, or undertake business continuity processes as successfully as we have in
the past.

The extent to which the COVID-19 pandemic impacts our business and results will depend on future
developments, which are highly uncertain and cannot be predicted, such as new strains, variants or
additional waves of the COVID-19 virus, new information which may emerge concerning the severity of
the coronavirus, the actions taken globally to contain the coronavirus or treat its impact and vaccine
distribution and effectiveness rates. Further, the effect on our business, operations and financial
performance may be difficult to predict and may vary significantly from that estimated by our
management from time to time, and any action to contain or mitigate such effect, whether government-
mandated or opted by us may not have the anticipated impact or may fail to achieve its intended purpose

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