CHAIR’S INTRODUCTION WELCOME Dear Shareholders, On behalf of the Board of Directors of IncentiaPay Ltd, I present to you our 2018 Annual Report. While we acknowledge the instability experienced in 2017, we are pleased with the renewed focus that has emerged as we implement necessary change. As a Company, we are undertaking a significant restructure and changing our strategy to position IncentiaPay for growth. This commenced with a renewed management team and subsequent changes to the Board. Iain Dunstan was appointment as Chief Executive Officer (CEO) in November 2017, succeeding Trevor Dietz. As a Board, we are happy with the calibre of the management team we have managed to put together. Further new appointments included Darius Coveney in the combined role of Chief Operating and Finance Officer (COO/CFO), and other senior leadership team members. The Board has also seen significant change and renewal with myself and Chris Berkefeld joining as new Independent Non-Executive Directors. Iain Dunstan joined the Board as Managing Director during the year. Murray d’Almeida, Trevor Dietz, Antonie (Tony) Wiese and Brian Hall all resigned during the past twelve months. On 14 September 2018, IncentiaPay announced the signing of a contract for the sale of the Bartercard business. This sale is in line with the Company’s stated intention to divest non-core assets and allocate capital to future growth areas. This reallocation of capital to core growth areas is allowing us to focus on new growth and market opportunities in Australia and New Zealand. These leverage off existing corporate and partnership marketing channels, as well as our growing relationship with Alipay as one of their preferred marketing partners, which enables us to enter and capture the booming inbound Chinese tourism market. We believe our partnership with Alipay will be a driver of additional revenue growth in FY2019 and beyond.
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