• EML appoints Adam Olding as new Chief Executive Officer
• EPSL progressing application to APRA for authority to carry on banking business
• EPSL required to obtain ADI guarantee for stored value liabilities by 30 April 2026

EML Payments Ltd (EML) has announced the appointment of Mr Adam Olding as its new Chief Executive Officer, effective immediately. This appointment reflects EML's progress on its EML2.0 transformation program and is intended to support the next phase of execution across the Group's operating and growth priorities. Mr Olding has already been leading EML's Australia, UK and Europe businesses, and his appointment as CEO provides clear executive accountability across regions and functions as EML continues the deployment and migration of its single global technology platform. EML's Executive Chairman Anthony Hynes will continue in that role, with an increased focus on strategic product development opportunities, broader growth initiatives, and investor and market engagement. In a separate update, EML Payment Solutions Limited (EPSL), a subsidiary of EML, is progressing an application to the Australian Prudential Regulation Authority (APRA) for authority to carry on banking business in Australia in connection with certain of its prepaid card programs. EPSL was advised on 27 March 2026 by APRA and the Reserve Bank of Australia (RBA) of interim arrangements that EPSL is required to comply with pending grant of an ADI licence, including obtaining a guarantee from an ADI in respect of stored value liabilities for EPSL programs by 30 April 2026. EPSL will engage with APRA and the RBA regarding this requirement, and the means by which EPSL would be able to satisfy this or put in place alternative structures acceptable to the regulators is still being determined.