Announcement PDF 28 August 2025 APPENDIX 4E – YEAR ENDED 30 JUNE 2025 Name of Entity: Raiz Invest Limited ABN: 74 615 510 177 Reporting period (“Current period”): Year ended 30 June 2025 Previous corresponding period: Year ended 30 June 2024 Results for announcement to the market Key Information 2025 $000 20241 $000 Change Revenue from ordinary activities 24,067 21,016 14.5% Underlying EBITDA2 2,831 1,144 147.5% Net Loss after tax for the period attributable to members (310) (1,868) 83.4% % Dividends Paid and Proposed No dividend was determined, declared, or paid during the financial year ending 30 June 2025 (2024: nil). Statement of Profit or Loss and Other Comprehensive Income with Notes to the Statement Refer to page 31 of the 30 June 2025 financial report and accompanying notes for Raiz Invest Limited and controlled entities (Group). Statement of Financial Position with Notes to the Statement Refer to page 32 of the 30 June 2025 financial report and accompanying notes for the Group. Statement of Cash Flows with Notes to the Statement Refer to page 35 of the 30 June 2025 financial report and accompanying notes for the Group. Net Tangible Assets per Share Net tangible assets per share 2025 $/share 2024 $/share 0.10 0.08 Control Gained or Lost over Entities in the Year Following a strategic review of its Southeast Asian operations, Raiz decided to cease all overseas activities. The divestment of these businesses has been successfully completed, and all overseas operations are now classified as discontinued operations. 1 Comparative information has been restated to reflect discontinued operations in the current financial year. Please refer to Note 28: Discontinued Operations in the audited 30 June 2025 financial report. 2 UEBITDA is a non IFRS measure which represents Earnings Before Interest, Tax, Depreciation Amortisation (EBITDA) adjusted to exclude non-recurring items and share-based payments expense. APPENDIX 4E – YEAR ENDED 30 JUNE 2025 Investment in Associates and Joint Ventures 2025 2024 % % - 70.0 Material investments in associates and joint ventures are as follows: Raiz Malaysia SDN BHD The divestment of the Malaysian business was successfully completed during the year. Commentary on the Results for the Period Refer to the commentary on the results for the period contained in the “Review and results of operations” included within the Directors’ Report section of the annual report. Status of Audit The 30 June 2025 financial statements and accompanying notes for the Group have been audited and are not subject to any disputes or qualifications. Refer to page 78 of the 30 June 2025 financial report for a copy of the auditor’s report. Kelly Humphreys Brendan Malone Chair Managing Director/CEO Dated: 28 August 2025 Dated: 28 August 2025 Notes: 1. All the documents comprise the information required by listing rule 4.3A. The Information should be read in conjunction with the audited 30 June 2025 annual financial report and all ASX announcements made by the Company during the year. 2 Raiz Invest Limited ABN 74 615 510 177 and Controlled Entities ANNUAL REPORT for the year ended 30 June 2025 Page 1 of 86 Contents CHAIR & CEO MESSAGE 3 DIRECTORS’ REPORT 5 REMUNERATION REPORT – AUDITED 20 AUDITOR’S INDEPENDENCE DECLARATION 30 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 31 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 32 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 33 CONSOLIDATED STATEMENT OF CASH FLOWS 35 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 36 CONSOLIDATED ENTITY DISCLOSURE STATEMENT 76 DIRECTORS’ DECLARATION 77 INDEPENDENT AUDITOR’S REPORT 78 ASX ADDITIONAL INFORMATION 82 CORPORATE DIRECTORY 85 Raiz Invest Annual Report 2025 Page 2 of 86 CHAIR & CEO MESSAGE Dear Shareholders On behalf of the Board, it is a pleasure to present the Raiz Invest FY25 Annual Report for the year ending 30 June 2025. Key Highlights Raiz delivered strong financial results in FY25 with positive momentum clearly evident across all key business metrics. The business continued to demonstrate consistent uplift and resilience despite persistent market volatility. Total revenue was up by 15% to $24.1m and underlying EBITDA increased significantly by 147% to $2.8m, demonstrating the operating leverage in our business model as we grow and scale. Active Customers increased by 7% to 329,277 driven by the successful execution of marketing strategies and targeted acquisition campaigns with embedded new generative AI tools which have improved conversion and retention. Average Revenue Per User (ARPU) was up 9% to $75.67, reflecting the success of our focus on growing higher revenue products. Funds Under Management (FUM) continued to grow, up 30% to $1.82bn, attributed to positive net inflows of $210m, as well as positive market movements. Over the past year, we have seen a change in the way that our customers are engaging with our platform, as they transition from a transaction-based savings approach to a longer-term wealth focus. Customers are increasingly adopting multiple Raiz products, continuing to deposit funds throughout the ups and downs of the market cycle, and growing their average balances. • • • • • Net inflows up 100% Average balances up 22% Kids Portfolios up 45% and Kids FUM up 81% Plus Portfolios up 42% and Plus FUM up 67% Super customers up 21% and Super FUM up 34% We are committed to ongoing customer-centric innovation. FY25 was an outstanding year for the development of our product roadmap. Key deliverables include the launch of Raiz Lite (1 August 2025) primarily aimed at attracting first-time investors, Raiz Jars providing functionality for customers to set and manage separate savings goals, automated Raiz Rewards, the integration of the Plus product into our Raiz Super product and the ongoing expansion of Raiz Plus investment options. This relentless product enhancement and innovation has been recognised by the fintech industry, both in Australia and globally. We were pleased to be awarded the winner of the Canstar Innovation Excellence Awards for Raiz Plus portfolios, a finalist in Fintech Australia’s Finnies Awards for Excellence in Wealth Management and we were also named one of CNBC World’s Top Fintech Companies in 2025. Investing in our Future Throughout the year Raiz strategically invested in initiatives aimed at enhancing business operations and efficiency, in order to better position the company for long-term success. These initiatives include: Data & AI: In parallel with our commitment to innovation, Raiz has accelerated the development of its data analytics capabilities and adopted AI-driven tools to generate deeper insights into the significant data available on the Raiz platform. These advances enable the business to deliver highly targeted and personalised marketing messages, ensuring that customers receive information tailored to their individual goals and behaviours. By harnessing sophisticated analytics, we are able to deepen our customer insights and refine our marketing strategies, enhancing conversion and retention rates. Brand Strategy: Raiz has progressed from its initial launch as a platform for first time investors and millennials into providing new opportunities to support intergenerational wealth that makes investing more accessible for the whole family. We recognise that our brand and value proposition need to progress along with this shift. We’re excited about work currently underway to build our brand as a key driver of our strategy and customer experience and to create a compelling value and brand proposition that appeals to customers across their investment lifecycle. Raiz Invest Annual Report 2025 Page 3 of 86 Strategic Partnership: In August 2024, we announced a strategic partnership with State Street Investment Management, the asset management business of State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services. The relationship provides opportunities for new product development from ETFs through to superannuation retirement portfolios. We continue to work together to broaden market awareness, collaborate on new product development for a retirement income product, and improve access to a broader array of financial literacy content and investment education tools for Raiz customers. Through our investment in these initiatives and partnerships and the work undertaken in FY25 to improve and enhance what we do, we’re confident that Raiz has reached an inflection point and is well equipped to build and scale the business as we move into FY26. Delivering on our Strategic Objectives Our vision at Raiz is to enrich the financial wellbeing of all Australians by providing accessible, empowering, and smart investment options. Raiz wants to transform the way people think about saving and investing, making it easier for them to take control of their financial future. To achieve this we remain committed to delivering our strategic objectives: • • • • • • Build and maintain strategic partnerships Deliver leading customer experiences Deliver innovative new products and enhancements Optimise capital use, strengthen risk culture and frameworks Strengthen system security Build and sustain team capacity and capability We are proud of delivering strong FY25 results. As we enter FY26 with positive momentum we’re confident that we are well positioned to leverage the significant market opportunity in Australia, both organically and through strategic M&A. With this strong foundation, we will continue to scale with ambition, pursue new opportunities and deliver market leading product innovations in the years ahead. We thank our shareholders and customers for their trust and support and our Raiz team for their drive and dedication as we continue to scale. Kelly Humphreys Brendan Malone Chair of the Board Managing Director/Group CEO 28 August 2025 28 August 2025 Raiz Invest Annual Report 2025 Page 4 of 86 DIRECTORS’ REPORT Your Directors present their report on the consolidated entity (the Group) comprising Raiz Invest Limited (the Company) and its controlled entities for the financial year ended 30 June 2025. The information in the preceding operating and financial review forms part of this report and should be read in conjunction with the following information: Directors The following persons were Directors of Raiz Invest Limited during or since the end of the financial year up to the date of this report: Directors: • Kelly Humphreys – Independent Non-Executive Chair • Brendan Malone – Managing Director/Group CEO • Jon Brett – Independent Non-Executive Director • Juliana Nguyen – Independent Non-Executive Director (appointed 13 January 2025) • Paul Rogan – Independent Non-Executive Director (appointed 13 January 2025) • Robert Hines – Independent Non-Executive Director (resigned 26 November 2024) Company Secretary: • • Farhaana Desai – Company Secretary (appointed 11 March 2025) Kamille Dietrich – Company Secretary (resigned 11 March 2025) Directors’ experience and qualifications are set out below. Kelly Humphreys Independent Non-Executive Chair Qualifications and Experience Kelly is an experienced non-executive director and accomplished financial services professional with board experience across various sectors including financial services, private health insurance, regulation and ecommerce. Kelly has extensive senior executive experience in insurance and lending and a depth of technical expertise in operations, risk management and governance. She brings a strong commercial approach to achieving objectives in complex regulatory environments and demonstrated ability in engaging stakeholders and working effectively to deliver growth and improved performance. Kelly holds a Master of Management, a Diploma of Financial Services and is a Fellow of the Australian Institute of Company Directors. Interest in Shares, Options and Rights 140,000 ordinary shares in Raiz Invest Limited and options to acquire a further 175,000 ordinary shares, and nil rights (including related entities). Special Responsibilities Member of the Risk & Technology Committee, Audit Committee, and Nomination, Remuneration & Culture Committee. Directorships held in other listed entities during the three years prior to the current year Non-Executive Chair of Toys “R” Us Limited (ASX: TOY) Raiz Invest Annual Report 2025 Non-Executive Director of NSX Limited (ASX: NSX) Page 5 of 86 DIRECTORS’ REPORT Brendan Malone Managing Director and Group CEO Qualifications and Experience Brendan Malone is the Managing Director and Group CEO of Raiz Invest Limited and brings a depth of experience in the financial services industry to the role. Brendan’s areas of expertise include strategic leadership, investment banking, client relations, compliance and operations. Brendan has led large-scale teams and delivered transformational outcomes through mergers and acquisitions and restructuring initiatives in complex regulatory environments. Brendan has previously held senior executive roles at The Royal Bank of Scotland and ABN AMRO with global experience in London, Hong Kong and Singapore. Brendan holds a Bachelor of Commerce majoring in Accounting and Finance, CIMA and MAICD. Interest in Shares, Options and Rights 2,638,992 ordinary shares in Raiz Invest Limited, options to acquire a further 941,488 ordinary shares and rights to acquire a further 715,348 ordinary shares (including related entities). Special Responsibilities Managing Director and Group CEO Directorships held in other listed entities during the three years prior to the current year Nil Jon Brett Independent Non-Executive Director Qualifications and Experience Jon Brett has extensive board and management experience with a background in finance, technology and corporate advisory. Jon was formerly an executive director of Investec Wentworth Private Equity Limited, and an executive of Investec Bank (Australia) Limited. He was also the CEO of Techway Limited which pioneered internet banking in Australia. His former directorships include Deputy President of the NRMA and Vocus Group Limited from its listing on ASX. Jon holds a Bachelor of Commerce, a Bachelor of Accounting, a Master of Commerce and a CA(SA). Interest in Shares, Options and Rights 60,000 ordinary shares in Raiz Invest Limited and no options or rights (including related entities). Special Responsibilities Chair of the Audit Committee and Member of the Nomination, Remuneration & Culture Committee. Directorships held in other listed entities during the three years prior to the current year Non-Executive Director of Corporate Travel Management Limited (ASX: CTD) Non-Executive Director of Mobilicom Limited (Nasdaq: MOB) from 2018 to 2025 Non-Executive Chair of Infomedia Limited (ASX: IFM) from 2024 to 2025 Raiz Invest Annual Report 2025 Page 6 of 86 DIRECTORS’ REPORT Juliana Nguyen Independent Non-Executive Director Qualifications and Experience Juliana Nguyen has extensive international experience in Marketing, Commercial and General Management roles across a broad range of industries including consumer goods, technology and digital services. She is currently the Chief Marketing Officer at TSA Riley and a member of the Global Leadership Team, leading the Marketing & Pursuits function globally. She is also a non-executive director of the Royal Hospital for Women Foundation. Throughout her career, Juliana has held leadership roles in high-growth environments and world-renowned organisations such as Nike and Airbnb, where she led country, regional and global teams. Juliana holds a Bachelor of Business and is a Graduate of the Australian Institute of Company Directors (GAICD). Interest in Shares, Options and Rights Nil Special Responsibilities Chair of the Nomination, Remuneration & Culture Committee and Member of the Risk & Technology Committee. Directorships held in other listed entities during the three years prior to the current year Non-Executive Director of McGrath Limited (ASX: MEA) from 2022 to 2024 Paul Rogan Independent Non-Executive Director Qualifications and Experience Paul has significant senior executive experience in the financial services and wealth management sectors. His more recent executive roles at Challenger Limited (ASX: CGF) included Chief Executive, Distribution, Product and Marketing, Executive General Manager, Capital, Risk and Strategy and Group CFO. Prior to that Paul held the roles of CEO of the UK and Irish subsidiaries of MLC/NAB, and CEO of MLC Building Society. Paul is the Chair of HUB24 Limited (ASX: HUB), a non-executive director and Chair of Household Capital Pty Ltd and a non-executive director Fourth Line Pty Ltd. Paul holds a Bachelor of Business in Accounting and Finance and a Fellow of the Australian Institute of Company Directors (FAICD) and Fellow of CPA Australia (FCPA). Interest in Shares, Options and Rights 200,000 ordinary shares in Raiz Invest Limited and no options or rights (including related entities). Special Responsibilities Chair of the Risk & Technology Committee and Member of the Audit Committee. Directorships held in other listed entities during the three years prior to the current year Non-Executive Director and Chair of Hub24 Limited (ASX: HUB) Raiz Invest Annual Report 2025 Page 7 of 86 DIRECTORS’ REPORT Farhaana Desai Company Secretary Qualifications and Experience Farhaana Desai is an accomplished governance professional with over 16 years of extensive experience in the financial services sector, including investment management, superannuation, and banking. She specialises in designing and implementing risk and compliance frameworks that align with regulatory requirements and business objectives. She is the Chief Risk Officer and Company Secretary at Raiz Invest. She holds degrees in Law and Business (Accountancy), as well as a Graduate Diploma in Applied Corporate Governance. Known for her collaborative leadership and strong stakeholder engagement, she collaborates effectively with regulators and senior executives to deliver practical and outcomes-focused governance solutions. Continued on next page Raiz Invest Annual Report 2025 Page 8 of 86 DIRECTORS’ REPORT GROUP OVERVIEW Raiz Invest Limited (‘Raiz’) is a financial services company that launched its services in February 2016 and is a leading provider of micro investing services through its award-winning mobile-first platform. The platform enables customers to save and invest seamlessly - whether contributing small or large amounts of money via the Raiz mobile application or the Raiz website. Raiz is listed on the Australian Securities Exchange (ASX: RZI). Raiz had a market capitalisation as at 26 August 2025 of approximately $70 million. Our vision is to allow all Australians to achieve financial well-being regardless of their situation. By providing simple, intuitive, automated access to intelligent investment options and advocating new ways to think about saving and investing, we’re giving everyone control over their financial future. Following the closure of the Southeast Asia operations (hereafter referred to as ‘discontinued operations’), Raiz and its controlled entities (‘the Group’) is now focused exclusively on the Australian market, with its head office in Sydney. As at 30 June 2025, Raiz employed 35 staff on a full-time equivalent basis. SIGNIFICANT CHANGES TO ACTIVITIES With the exception of completing the closure of the discontinued operations, there were no significant changes in the nature of the principal activities during the financial year. BUSINESS MODEL AND OBJECTIVES Raiz operates a recurring revenue model, deriving income from micro investing products and services via the Raiz platform. Additionally, the Group earns commission revenue through the Raiz Rewards programme, which leverages the Group’s extensive customer and transactional data. Raiz’s revenue is generated from four key streams: Maintenance fees Monthly fee charged to Active Customers with account balances below $20,000 ($26,000 from 1 August 2025) for the Standard Portfolios, below $25,000 ($28,000 from 1 August 2025) for Plus Portfolios, and to all balances in the Sapphire or Property Portfolio. Account fees Monthly fee to Active Customers charged as a basis point of FUM for account balances above the above thresholds, and to all balances in the Sapphire or Property Portfolio. Advertising Commission income from highly targeted advertising campaigns utilising aggregated data from multiple sources, including from the Raiz platform and external providers. The revenue amount varies depending on the partner and specific commercial arrangements. Cashback earned from everyday purchases made through the Raiz Rewards programme is invested directly into the customer’s Raiz account. Netting & Interest Netting: Buy and sell spreads on all financial assets and Bitcoin (BTC) transacted internally without requiring an on-market execution, avoiding external brokerage costs. Through netting, Raiz absorbs brokerage fees, rather than passing them on to its customers. Interest: Income from customer transactional funds temporarily held due to ASX settlement delay and from Company cash reserves including funds held to meet regulatory capital requirements. Interest income is variable and influenced by transaction volumes, timing of settlements, prevailing interest rates, and the size of cash reserves held. Raiz Invest Annual Report 2025 Page 9 of 86 DIRECTORS’ REPORT OVERVIEW OF PERFORMANCE FY25 FY24 Change % Revenue $24,067,000 $21,016,000 14.5% Underlying EBITDA1 $2,831,000 $1,144,000 147.5% Active Customers2 329,277 306,776 7.3% Fund Under Management (FUM) $1.821 billion $1.396 billion 30.4% Netflows $210 million $105 million 100.0% Average Revenue Per User (ARPU)3 $75.67 $69.74 8.5% Average account balance $5,530 $4,551 21.5% REVIEW AND RESULTS OF OPERATIONS Raiz delivered strong growth across each of its key revenue drivers in FY25, reflecting ongoing product innovation, customer acquisition, and increased engagement. Active Customers, FUM and ARPU • Active Customers rose 7.3% to 329,277 (2024: 306,776) • FUM increased 30.4% to $1.821 billion (2024: $1.396 billion) • ARPU grew 8.5% to $75.67 (2024: $69.74) Revenue: • Operating revenue from continuing operations increased 14.5% to $24.1 million (2024: $21.0 million), driven by a higher ARPU and growth in Active Customers. Profitability: • The Group’s preferred measure of profitability is Underlying EBITDA (UEBITDA), which increased to $2,831,000 (2024: $1,144,000), an increase of 147.5%, primarily driven by a 14.5% increase in revenue and partially offset by a 6.9% increase in operating expenses. • UEBITDA performance included operating expenses of $21,236,000 (2024: $19,872,000), including noncash advertising credits from Seven West Media of $1,411,000 (2024: $2,732,000). 1 UEBITDA is a non IFRS measure which represents Earnings Before Interest, Tax, Depreciation Amortisation (EBITDA) adjusted to exclude non-recurring items and share-based payments expense. 2 Active Customers are fee paying accounts. 3 Average Revenue Per User (ARPU) is calculated as full year revenue divided by the average Active Customers during the period. This differs from the quarterly ARPU, which is based on revenue and average Active Customers within a single quarter. Raiz Invest Annual Report 2025 Page 10 of 86 DIRECTORS’ REPORT Underlying Net Profit/(Loss) After Tax (UNPAT)4: • The Group recorded an UNPAT for the year of $69,000 loss (2024: $619,000 loss), which is reconciled to the UEBITDA performance in the table below: Reconciliation of Underlying EBITDA to Underlying NPAT FY25 FY24 $’000 $’000 Underlying EBITDA 2,831 1,144 - Depreciation and amortisation expenses (2,604) (2,187) - Finance cost (116) (36) - Share-based payments expense (76) (148) - Non-recurring items: - 640 (365) (318) 261 286 Underlying Net Profit/(Loss) After Tax (UNPAT): (69) (619) - (296) (2,173) (365) (2,792) - - Other income (R&D tax grant) - Short Term Incentive (STI) accrual timing adjustment Income tax benefit Net loss after income tax from discontinued operations Statutory Net Profit/(Loss) After Tax (NPAT): Statutory Net Profit/(Loss) After Tax (NPAT): • The Group reported a Statutory NPAT of $365,000 loss (2024: $2,792,000 loss), representing a 86.9% improvement, of which $310,000 loss (2024: $1,868,000 loss) was attributable to owners of the parent entity and $55,000 loss (2024: $924,000 loss) was attributable to non-controlling interests. Cash Flows: • The Group generated operating cash inflow from continuing operations of $3,955,000 down 9% (2024: $4,346,000, excluding R&D tax grant received), primarily due to changes in working capital. • Operating cash outflow from discontinued operations was $1,234,000 (2024: $2,402,000 cash outflow), including a $672,000 cash transfer to the liquidator of Raiz Malaysia. • Operating cashflows benefited from the non-cash advertising credits through Seven West Media of $1,411,000 (2024: $2,732,000), which were fully utilised during the year. • During the year the Group generated free cash flows5 from continuing operations of $851,000 (2024: $1,079,000). Capital Management: The Australian business held $13,027,000 in cash and cash equivalents at balance date (2024: $8,484,000 by Australian business and $1,254,000 by Malaysian business) with no debt (2024: $973,000 (Preference shares issued to Malaysian JV partner, classified as financial liabilities)), reflecting a $4,543,000 increase. As announced to market, during the year the Group: • Raised $3,911,000 in equity through the issuance of 9,540,313 new ordinary shares at an average price of $0.41 per share to fund strategic opportunities, artificial intelligence initiatives, product innovation and market opportunities. 4 Non IFRS measure. 5 Free cashflow defined as operating cash flows after capitalised expenses from continuing operations, excluding R&D tax grant received. Raiz Invest Annual Report 2025 Page 11 of 86 DIRECTORS’ REPORT • 304,679 shares were issued following the exercise of employee share options (2024: 2,025,029 shares issued on the exercise of 2,025,029 employee share options via cash exercise at $0.20 per share). The 2025 issuances comprised: o October 2024: 37,405 shares issued upon the exercise of 90,000 employee share options on a no-consideration basis, calculated using a 10-day VWAP of $0.4278 per share. The options were exercised via cashless exercise in accordance with the Company’s Long-Term Equity Incentive Plan. o January 2025: 42,274 shares issued upon the exercise of 479,000 employee share options on a no-consideration basis, calculated using a 10-day VWAP of $0.5484 per share. The options were exercised via cashless exercise in accordance with the Company’s Long-Term Equity Incentive Plan. o January 2025: 225,000 shares issued upon the exercise of 225,000 employee share options at $0.50 per share via cash, exercised in accordance with the Company’s Long-Term Equity Incentive Plan. The Group, through its licensed subsidiary Instreet Investments Ltd, fully complied with the minimum regulatory capital requirements for a Responsible Entity for the year. DIVIDENDS PAID OR DETERMINED No dividend was determined, declared, or paid during the financial year ending 30 June 2025 (2024: nil). SIGNIFICANT EVENTS AFTER BALANCE DATE In July 2025, 36,893 shares were issued upon the exercise of 61,117 employee share options on a noconsideration basis, calculated using a 10-day VWAP of $0.6308 per share. The options were exercised via cashless exercise in accordance with the Company’s Long-Term Equity Incentive Plan. On 1 August 2025, Raiz announced the launch of Raiz Lite along with a revised fee schedule. The first fees under the new structure will be charged on 1 September 2025. Further details are provided in the ASX announcement dated 1 August 2025. No other matters or circumstances have arisen since the end of the financial year that could significantly affect future operations. FUTURE DEVELOPMENTS, PROSPECTS AND STRATEGY Current strategic priorities include: • Build and maintain partnerships that enhance performance through strength, trust, and shared outcomes; • Deliver a leading customer experience by going beyond service to maintain a continuous, holistic customer focus; • Develop and deliver innovative products and enhancements that showcase creativity and deliver meaningful outcomes; • Optimise capital use, strengthen risk culture and frameworks, and prioritise long-term capability and adaptability; • Strengthen system security and maintenance with a strategy centred on clarity, efficiency, and growth potential; and • Build and sustain team capacity and capability, empowering staff by aligning strategy with organisational values. Raiz Invest Annual Report 2025 Page 12 of 86 DIRECTORS’ REPORT BUSINESS RISKS The Group has established a comprehensive enterprise risk management framework, incorporating risk registers, a risk appetite statement, Risk and Technology Committee and other Management Committees to address risks. The primary financial and operational risks identified as the most significant include: Risk Area Description Privacy, data and cybersecurity A data breach, cyber-attack, or failure to comply with privacy obligations could result in regulatory penalties, reputational damage, and loss of customer trust, which may reduce customer acquisition and retention Brand and reputation Negative publicity or customer dissatisfaction could erode brand value. A weakened brand may directly affect customer acquisition and retention, partnerships, and investor confidence Failure to meet customer needs and expect