• Cuscal raises A$30 million through a fully underwritten institutional placement
• Proceeds will contribute to funding Cuscal's acquisition of Paymark Limited
• Approximately 7.5 million new shares issued at A$4.00 per share, representing a discount to the last close and 5-day VWAP

Cuscal Limited (ASX: CCL) has announced the successful completion of its A$30 million fully underwritten institutional placement. The placement was announced on Tuesday, 14 April 2026 and the proceeds will contribute to funding Cuscal's acquisition of Paymark Limited. Approximately 7.5 million new fully paid ordinary shares will be issued at a fixed price of A$4.00 per new share, which represents a 5.0% discount to Cuscal's last close price of A$4.21 on Monday, 13 April 2026 and a 3.9% discount to the 5-day volume-weighted average price (VWAP) of A$4.16. The placement was strongly supported by both Cuscal's existing shareholders and new investors. Cuscal will also offer eligible Australian and New Zealand Cuscal shareholders the opportunity to participate in a non-underwritten Share Purchase Plan, targeting to raise up to A$3 million. The new shares under the SPP will be offered at the lower of the placement price of A$4.00 per share and a 1.5% discount to the 5-day VWAP of Cuscal's shares up to and including the closing date of the SPP.