Business Description

Overview Remitly, founded in 2011, is a trusted provider of financial services that transcend borders. With a footprint spanning more than 175 countries, we have built one of the world’s leading global money movement platforms, trusted by millions of customers who rely on us every day. The long-term, trusted relationships we foster with our customers have enabled us to scale to more than 5,300 corridors and more than 9.3 million quarterly active users worldwide. Leveraging our strengths in global money movement, we continue to evolve beyond a remittance company into a diversified, cross-border financial services provider, serving both consumers and businesses across a growing set of use cases. To further our vision, we have expanded by serving new customer categories, including high-amount senders, businesses, and receivers, and by introducing new products. These offerings build on our foundation and extend our ability to support the financial lives of our customers. Our strategy and execution is grounded in three core strengths: • Trust: This is the foundation of everything we do—built through reliability, fairness, and security with millions of customers; • Network: The strength of our network makes our service fast, reliable, and affordable; and • Scale: This allows us to deliver lower unit costs, offer competitive pricing, and reinvest to continually improve how customers interact with our products and services. Together, these strengths underpin a customer experience advantage defined by speed, simplicity, and delight—delivering a platform of products and services that work reliably and with consistent and dependable performance. Our combination of a trusted brand, a high-quality global network, and proven scale positions Remitly to continue transforming lives while expanding access to trusted financial services around the world. 2025 Key Performance Metrics The substantial majority of our revenue is currently generated from our global money movement product, where we earn revenue from transaction fees charged to customers and foreign exchange spreads applied to the amount the customer is sending. In addition to our financial results, we regularly review key performance metrics to evaluate our performance, identify trends affecting our business, prepare financial projections, and make strategic decisions. We believe that these key performance metrics provide meaningful supplemental information for management and investors in assessing our historical and future operating performance. The calculation of these key performance metrics discussed below may differ from other similarly titled metrics used by other companies, analysts, or investors. The key performance metrics that we use to measure the performance of our business are defined as follows: • “Active customers” is defined as the number of distinct customers that have successfully completed at least one transaction using Remitly during a given period. We identify customers through unique account numbers. • “Send volume” is defined as the sum of the amount that customers send, measured in U.S. dollars, related to transactions completed during a given period. This amount is net of cancellations, does not include transaction fees from customers, and does not include any credits, offers, or bonuses applied to the transaction by us. We measure active customers on a quarterly basis and as a result, this metric is only presented on a quarterly basis. Our 2025 key performance metrics included the following results: • Active customers for the fourth quarter of 2025 increased to 9.3 million, from 7.8 million, up 19% year over year. • Send volume for the year ended December 31, 2025 increased to $74.9 billion, from $54.6 billion, up 37% year over year. 1 Table of Contents The charts below present the respective key performance metrics for the past five fiscal years (active customer figures below represent active customers during the fourth quarter of the respective year): Our Platform The core product on our platform enables customers to send money digitally across borders. Our customers predominantly engage with us via their mobile phones, either using our mobile app, website, or messaging services, shifting what traditionally required waiting in line to speak with an agent to handheld devices. Our customers are able to set up an account and start sending money to international recipients, generally within minutes.…