OFX and Equals agree cash offer terms & 1Q27 Trading Update

• OFX agrees to a $1.00 cash offer from Equals, representing a 108% premium to its pre-announcement share price
• OFX Board intends to recommend the offer, subject to certain conditions
• 1Q27 trading update shows growth in non-FX revenue and multi-product adoption
• Net Operating Income up 1.0% QoQ but down 20.0% YoY
• OFX 2.0 transition continues with new client platform live in all markets

OFX Group Limited (ASX: OFX) has agreed to an all-cash acquisition offer from Alakazam Holdings Bidco Limited (Equals), representing $1.00 per OFX share, a 108% premium to the pre-announcement share price. The OFX Board intends to recommend the offer, subject to conditions including finalizing debt financing and executing a Scheme Implementation Deed. The 1Q27 trading update shows continued growth in non-FX revenue, up 24.4% QoQ and 195.3% YoY, driven by strong growth in Cards, Pay by Card, and Subscriptions. Net Operating Income was up 1.0% QoQ but down 20.0% YoY. The OFX 2.0 transition continues with the new client platform live in all markets, showing growth in multi-product adoption and Corporate New Transacting Clients.

OFX expects to grow Corporate Active Clients in FY27, with non-FX revenue and multi-product adoption continuing to grow.

OFX remains confident in its ability to grow Corporate Active Clients in FY27, supported by the positive momentum in non-FX revenue and the performance across its segments.