--Industry Veterans Bring Decades of Expertise to Fast-Growing Installment 
Payment Business 

Afterpay (ASX: APT) today announced that former U.S. Treasury Secretary 
Lawrence H. Summers will join its U.S. Advisory Board. Other members of the new 
advisory board include Uli Becker, former CEO of Reebok, and Matthew A. Kaness, 
former president and CEO of ModCloth.

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Afterpay's U.S. Advisory Board was formed to help the company identify key 
business opportunities and partnerships at a time when American consumers are 
increasingly turning to alternative payment methods to avoid revolving and 
extended debt. Afterpay allows merchants to offer consumers a way to pay for 
items in four installments without interest - fostering responsible spending 
habits, budgeting and consumer control. Afterpay has flipped the traditional 
consumer credit model on its head with a business model based on merchant fees, 
rather than consumer interest and fees.

"Afterpay is leading the market by reinventing the way people shop and pay with 
alternatives to traditional credit that encourages responsible spending and 
control in how consumers pay," Mr. Summers said. "I look forward to working 
with the leadership team to make the most of the opportunity before them."

Since entering the U.S. market a little more than a year ago, the company has 
seen significant growth with more than 6,500 retailers ( 
https://c212.net/c/link/?t=0&l=en&o=2604840-1&h=2816172422&u=https%3A%2F%2Fwww.afterpay.com%2Fen%2Fcategories%2Fmost-popular&a=retailers 
) offering Afterpay - representing more than 10% of the U.S. fashion and beauty 
market. Afterpay now has more 30,000 retail partners and 5.2 million consumers 
using the platform worldwide.

"Our new U.S. Advisory Board represents the best minds and most reputable 
experts in the commerce and financial technology market. With their support, 
Afterpay will continue to build on our business momentum and forge strong 
partnerships with brands who want to offer their customers a way to pay that 
encourages responsible spending, control and convenience," said Nick Molnar, 
Co-Founder of Afterpay and U.S. CEO.

Afterpay U.S. Advisory Board Members:
Lawrence H. Summers, one of the world's leading economists, served as the 71st 
Secretary of the U.S. Treasury in President Bill Clinton's administration and 
was the Director of the White House National Economic Council under President 
Barack Obama. He has previously served as the President of Harvard University 
and as the Chief Economist of the World Bank. Mr. Summers is currently a 
Charles W. Eliot University Professor, President Emeritus of Harvard University 
and serving on the Board of Directors for Square. 

Mr. Matthew "Matt" A. Kaness is a well-regarded consumer and digital commerce 
industry veteran, having served in several roles at leading U.S. retailers, 
including Chief Strategy Officer for Urban Outfitters, Inc for nearly 8 years. 
In early 2015, Mr. Kaness joined ModCloth, Inc. as its President and Chief 
Executive Officer. Under Mr. Kaness's leadership, the beloved fashion e-tailer 
achieved record sales and transformed into a vertical, multi-channel 
direct-to-consumer (DTC) brand, ultimately selling the company to Jet.com (a 
Walmart subsidiary) in 2017. Today, Mr. Kaness is the interim Chairman and CEO 
of Lucky Brand Dungarees, Inc.

"Afterpay has revolutionized the way retailers engage with the new millennial 
and Gen Z cohorts, as they move away from traditional credit models. Retailers 
see better conversion rates, repeat customers and referrals from the Afterpay 
shop directory when they offer Afterpay to their customers," Mr. Kaness said. 
"As a retailer, it is these incredible results that really impressed me and why 
I wanted to be a part of the team to help them continue to realize their 
substantial market opportunity."

Mr. Uli Becker is an industry-leading brand, marketing and sales expert for 
global consumer goods. Following 16 years as Managing Director and Senior Vice 
President of Brand at Adidas, Mr. Becker served for eight years as CMO, and 
then CEO and President of Reebok. More recently, Mr. Becker has devoted his 
energy to advising, consulting, supporting and investing in innovative startup 
companies, including playing an active advisory role at HYPE Sports Innovation. 
Additionally, Mr. Becker sits on several boards as a director or advisor. He is 
an expert executive at Babson College and serves as a trustee at Beth Israel 
Deaconess Medical Center. 

"When I first connected with Nick Molnar more than a year ago, I was 
exceedingly impressed with his way of thinking and his engaging display of 
energy," said Mr. Becker. "Afterpay's leadership has translated directly into 
disruptive and purpose-driven innovation, all created by what is clearly a 
winning team."

About Afterpay Touch Group 
Afterpay Touch Group (ASX: APT) is a global technology-driven payments company 
with a mission to be 'the world's most loved way to pay'. APT comprises the 
Afterpay and Pay Now (Touch) services and businesses. Afterpay is driving 
retail innovation by allowing leading retailers to offer a 'buy now, receive 
now, pay later' service that does not require customers to enter into a 
traditional loan or pay any upfront fees or interest. As of August 23, 2019, 
Afterpay's 5.2 million active customers make purchases using Afterpay services 
and approximately 35,300 active retailers have been on-boarded to the Afterpay 
platform. Pay Now comprises innovative digital payment businesses servicing 
major consumer-facing organizations in the telecommunications, health and 
convenience retail sectors in Australia. 
 
SOURCE: Afterpay

CONTACT: Amanda Pires, Email: amandap@afterpay.com, Phone: +1 650-208-3728