AimerPay Investor Update — supplementary source notes
As at 10 October 2026 | Platform data through 6 October 2026; AU cumulative GPV through 8 October 2026
Confidential — Do not distribute

Sources & measurement notes
Sources and currency. Adyen/AimerOps payments to 6 October 2026, matched POS sales and the merchant register. GPV measures merchant payments captured before refunds. All displayed monetary amounts are NZD, including Australian activity, using the existing fixed presentation rate of 1 AUD = 1.242 NZD. The same rate is now used for monthly, weekly and merchant figures; it is a constant presentation convention. Historical weekly source amounts used 1.2416 and have been recomputed consistently for this update.


Merchant basis. Live requires cumulative GPV of at least NZ$100 for NZ merchants or NZ$124.20 equivalent for AU merchants from July to 6 October. This preserves the original merchant-classification thresholds after currency conversion. The register contains 69 signed merchants (58 NZ; 11 AU): 35 Live and 34 awaiting activation. Ten additional Live merchants await contract-record reconciliation. Pending merchants include 22 with combined September POS sales of NZ$1.24m; this is addressable merchant sales.


Payment penetration. NZ penetration uses matched-cohort GPV of NZ$253,898 and POS sales of NZ$1,743,721. The separate 30% steady-cohort calculation holds those sales constant and excludes new merchants; the October scenario below includes 15 planned activations.


Australia. The 3.3× comparison measures actual AU/NZ payment volume for 30 September–6 October. The latest reporting week includes one day before the 1 October reforms; their causal contribution has not been isolated. Early July–August processing predates September market validation.


Underlying weekly GPV
Six complete reporting weeks · week-ending dates

Market	1 Sep	8 Sep	15 Sep	22 Sep	29 Sep	6 Oct	
NZ · NZD	46,989	47,583	60,420	72,029	66,332	62,689	
AU · NZD	38,374	42,268	40,448	54,682	38,482	209,529
Platform · NZD	85,363	89,851	100,868	126,711	104,814	272,218
NZ’s latest week declined 5.5%; the cause has not been established. Reporting weeks follow the source time window.


Product and imagery. AI-native completion is internally assessed. The MBIE application remains under final financial review. Images are Aimer-owned product and customer features; payment status is based on operating records.

Management GPV targets — updated 10 October 2026
Monthly platform GPV targets, all NZD: NZ$3m–5m for 2026; NZ$5m–8m in Q1 2027; NZ$10m–20m in Q2 2027. These are management target ranges. The 1–6 October actual GPV is unchanged.

Annual GPV KPI — management update 10 October 2026: NZ$150m–200m in payment volume over a year. This is a separate annual payment-volume KPI. The fiscal-year or rolling-period boundaries remain unspecified.

October outlook — management expectation confirmed 10 October 2026: NZ$1.5m+ full-month platform GPV in NZD equivalent. This is the lead investor-update message. The 2026 / Q1 2027 / Q2 2027 monthly target ranges remain a separate set of growth targets.

New Zealand October modelled potential — restored original scenario: NZ$422,221.84–581,250.63. Existing matched-cohort GPV NZ$253,897.59 increases by 50–100%, plus NZ$9,295.45 for other activity and NZ$32,080–64,160 from 15 planned activations. New-merchant scenario assumes 16 October start and 50–100% of the observed NZ median 1–6 October GPV of NZ$1,604 (23 qualifying merchants). These are conditional operating scenarios. Separately, sustained 30% penetration of matched September POS sales NZ$1,743,721 implies NZ$523,116.34 monthly GPV before new merchants; that steady-cohort case is separate from the October scenario.

Chart presentation. July–September monthly bars are actuals. The semi-transparent October platform bar shows management's NZ$1.5m+ outlook. The semi-transparent NZ October bar and lighter upper interval show the conditional NZ$422k–581k potential. July–September provides the historical comparison.

Illustrative payment revenue. Apply an assumed 0.5–0.8% take rate to each monthly GPV target range: NZ$3m–5m gives NZ$15,000–40,000; NZ$5m–8m gives NZ$25,000–64,000; NZ$10m–20m gives NZ$50,000–160,000 per month. Each lower bound uses the low GPV at 0.5%, and each upper bound uses the high GPV at 0.8%. These are arithmetic scenarios based on assumed fees, before operating costs. The October NZ$1.5m outlook remains separate and corresponds to NZ$7,500–12,000 on the same assumptions.

NZ data reconciliation. July NZ$47,552.41, August NZ$201,555.54, September NZ$258,983.70 and 1–6 October NZ$54,599.75 agree with the archived Adyen dashboard source audit. The matched customer register is lower by NZ$90.09 in September due to unmatched activity; country totals and matched-cohort penetration have distinct scopes. September penetration is NZ$253,897.59 / NZ$1,743,721.14 = 14.6%. The October scenario was recomputed as NZ$422,221.84–581,250.63; it is conditional GPV potential.

Leading merchants by market. New Zealand uses September 2026 GPV, ranked within NZ: Fillings Burger NZ$53,840; Nan Hotpot Christchurch NZ$38,045; Cha-No-Wa NZ$28,974; Panda Delight NZ$24,684. Australia retains 1–6 October GPV: Nathan Ocean Seafood Restaurant NZ$66,732; GOGOMUSIC BBQ NZ$39,071; 25 Spice Hunan NZ$26,765; Yummy Street Food NZ$22,938. The two market strips deliberately show different periods, labelled beside each heading; all amounts are NZD.

Australia activation pipeline. Six contracted merchants are Going Live Soon; the current investor snapshot makes no specific activation-date commitment.


Store-count model — 10 October 2026. September Top 10 stores: total GPV NZ$366,819.10, matched POS sales NZ$539,809.77; average monthly GPV per store NZ$36,681.910498; weighted payment penetration 67.9534%. AU GPV and POS both converted at 1.242. Required total active-store equivalents = ceiling(monthly GPV target / exact Top 10 average). NZ$3–5m: 82–137 stores; NZ$5–8m: 137–219; NZ$10–20m: 273–546. The benchmark is deliberately based on leading stores selected by September GPV. Actual store requirements depend on merchant sales, country mix, payment penetration and time active; new activations can contribute partial months. Existing stores are included in the total. The live-merchant headline is the broader portfolio.

NZ payment penetration benchmark, updated 10 October 2026. Top 10 weighted penetration = NZD366,819.10498 GPV / NZD539,809.76786 matched POS sales = 67.9534026%. Applied to NZ matched-cohort POS sales NZD1,743,721.14: monthly GPV potential NZD1,184,917.85, or 4.6669 times the cohort actual NZD253,897.59. Assumes unchanged merchant sales, with existing merchants only. October 30%+ and modelled 422k–581k remain a separate stage target and monthly scenario. The Top 10 is a selected leading cohort, also used for store-count modelling.

Uplift terminology: (4.6669125413 - 1) x 100 = 366.6913%, equivalent to approximately 367% growth. The investor headline displays the resulting level directly: 4.7x GPV potential relative to the baseline. Weighted payment penetration uses total GPV divided by total matched POS sales, rather than the simple average of merchant percentages.

Australia cumulative GPV update — 10 October 2026. Complete reporting period 1–8 October: AUD197,108.95, translated at 1.242 to NZD244,809.32. This equals 124.0% of September full-month GPV and a daily-average multiple of 4.65x September. NZD30,601.16 daily average. Original 1–6 October AUD154,407.53 reconciles exactly; 7–8 October adds AUD42,701.42 / NZD53,035.16. Rounded subtotals may differ by one cent from rounded totals.
Reporting dates use CSV AEST timestamps minus eight hours, matching the existing report period (CEST), rather than Australian local trading days. Partial 9 October is excluded. Platform totals remain 1–6 October; merchant leaders remain 1–6 October; the complete weekly series remains through 6 October. Merchant counts, payment penetration and monthly outlooks are unchanged.
Source files: payment-oct1-7.csv; payment-2026-10-08-new.csv; payment-2026-10-09.csv. Only AimerHQ_Platform_AU and AimerHQ_Platform_AU_LowATV, SentForSettle, AUD Captured (PC), before refunds. Offline overlap reconciliation removes 231 records using Merchant Account, PSP reference, Booking Date and Captured amount; this is specific to this file splice. Source SHA256 checksums verified against the supplied handoff.