Target Market Determination
1. Purpose

2.1 Product Table

As per the Treasury Laws Amendment (Design andDistribution Obligations and Product Intervention Powers)
Act 2019 World First Pty Limited (“WF”) is required toprovide our customers a Target Market Determination(“TMD”). This TMD provides customers with anunderstanding of the class of consumers for which WorldFirst Pty Limited (“WF”) products has been designed, having
regard to the objectives, financial situation and needs of thetarget market.

Product - Spot Contracts

This TMD complies meets the requirements set out undersection 994B of the Corporations Act 2001 (Cth).
The TMD is not to be treated as a full summary of theproduct’s features, terms and conditions and is not intended
to provide financial advice. Before acting on the information
you should consider whether it is appropriate for you, in lightof your objectives, financial situation or needs. Please
review our Product Disclosure Statement (PDS) andFinancial Services Guide (FSG) which contains important
information about the products on offer prior to making adecision.
This TMD refers to the following products outlined in thePDS. The below products will be referred to as ‘WF Product’:— Spot contracts— Forward contracts— World Account (Collections and Payments Account)
TMD is effective as of 15 April 2022

2. Class of consumers that fallwithin the TMD
The information below summarises the overall class ofconsumers that fall within the target market for WF products,
based on the product key attributes and the objectives,
financial situation and needs that it has been designedto meet.
As detailed at 2.1 WF has assessed the products and formed
the view that the products have been designed for consumers
whose likely objectives, financial situation and needs arealigned with the product (including the key attributes).
All WF products are only offered to Business customers andnot offered to private/individual customers. Further, WF does
not offer foreign exchange (FX) transactions entered into forinvestment or speculative purposes such as attempting to
profit from fluctuations in foreign exchange rates, andcustomers must not use our services for any such purpose.
The below table at 2.1 outlines WF Product attributes andwho the products are designed for.

Product description and key attributes:— This is a foreign exchange (FX) contract for buying andselling currency where the settlement date is between
1 and 2 business days after the date of entering thecontract.
— Spot contracts are a basic tool that allows customers
to exchange one currency for another at an agreed
exchange rate on an agreed date.
— A spot contract allows customers to trade immediately
at the current FX rate making them the simplest
method of managing foreign exchange risk. They canbe used by businesses for hedging, diversification,
cash flow certainty and exchange rate protection.
This product is designed for the following:— Customers that want to repatriate overseas earnings,
make foreign currency payments and manage foreignexchange risk.
— Customers who need to pay for foreign goods/
services, pay foreign contractors or service providers
or other foreign currency needs.
— Customer entity types: Companies, Partnerships,Trusts, and Sole traders who need to pay for goods orservices in another currency, such as importers.
Product - Forward contracts
Product description and key attributes:— Forward Contracts allow customers to buy or sell one
currency against another for settlement at a later date(typically between 3 business days to 24 months).
— Customers can specify a special delivery period
allowing them to draw down on the funds within anagreed period of time.
— The ability to fix an exchange rate now for delivery of
currency in the future allows customers to know what
they will have to pay on a future date which canimprove money management of cash flows and costs.
— Customers are required to pay a deposit (typicallybetween 3% to 20%) before entering into thetransaction. There may also be a requirement to pay amargin amount at any time during the term of a
Forward Contract prior to its maturity.
— Forwards are a more complexed method of riskmanagement. Customers can incur losses due tocurrency fluctuations. By fixing a rate and delivery datecustomers will not be able to take advantage offavourable movements in the FX rate.

This product is designed for the following:— Customers that want to fix the exchange rate for a
future date in order to protect their business fromcurrency market volatility.
— Forward contracts can be useful for businesses thathave future payments or receipts in foreign currency
allowing them protection for budget and profit margins.
— Customers that have adequate and readily available
funds to meet margin payments.
— Customers that have a good understanding of FX
markets, trading and strategies— Generally speaking, forward contracts are not suitable
for retail investors that are unable to withstand losses
without material hardship.
— Customer entity types: Companies, Partnerships,
Trusts, and Sole traders who need to pay for goods orservices in another currency, such as importers.
Product - World AccountProduct description and key attributes:— World Account (WA) is the core Collections andPayments account for customers that can be used toreceive payments in foreign currencies, and to fundSpot Contracts and Forward Contracts whencustomers need to send payments.
— Customers can make fixed or recurring fixed paymentsfrom their currency account.
— Customers can pay multiple beneficiaries in a single
trade— Customers can use WA to collect and hold funds topay suppliers via up to 10 local currency accounts(USD, GBP, EUR, JPY, CNH, HKD, AUD, SGD, CAD &NZD). These currency accounts are opened to allow
businesses to collect funds from their internationalcustomers and through online market places such as
Amazon, Trade Me, AliExpress and eBay.
— Customers cannot use the World Account to facilitate
payments relating to personal or domestictransactions.
This product is designed for the following:— Customers (such as online sellers) who sell goods
and/or services internationally and need to pay
international suppliers. These customers needcollections accounts in different currencies locatedoverseas to collect the proceeds of their sales. They
can send these balances back to their own account or
use them to pay suppliers internationally.
— WA is designed to support only commercial
transactions for business customers.
— Customer entity types: Companies, Partnerships,Trusts, and Sole traders who need to pay for goods orservices in another currency, such as importers ortraders who utilise marketplaces.

3. How are WF Products distributed?
3.1 Distribution channels
This product is designed to be distributed through thefollowing means:— Online: customers can visit the WF website— Phone: customers can call WF Customer services

3. How are WF Products distributed?
3.1 Distribution channels
This product is designed to be distributed through thefollowing means:— Online: customers can visit the WF website— Phone: customers can call WF Customer services— Internal sales staff: active promotion/sourcing byaccredited sales staff— Referrals: referral partnership program in place— Marketing channels: website, social media, electronic
marketing, other direct marketing channels
3.2 Distribution conditions
This product should only be distributed under the following
circumstances:— All WF Products can only be issued to customers thatare eligible for the product in accordance with theapplication, Ts&Cs, and/or acceptance criteria that has
been approved in writing by WF (the issuer) and which
complies with relevant laws
— All WF Products can only be distributed by WF.
WF has met all annual compliance reviews and all
representatives have received training and attained
relevant accreditation.
WF has assessed the distribution conditions anddetermined that:— The distribution conditions will ensure that customers
who are issued with WF products are in the Targetmarket.
— These distribution conditions are appropriate and will
enable WF to direct the WF products to the class ofcustomers who fall within the target market as outlined
at 2.

4 Reporting and monitoring thisTarget Market Determination
WF will collect and report on the following information inrelation to this TMD:
Item - Significant dealings
Details:If WF becomes aware of a significant dealing in relation tothe product that is inconsistent with the TMD.
Reporting period:
As soon as practicable but no later than 10 business days
after becoming aware of the significant dealing.
Item - Complaints
Details:
All complaints relating to the product design, productavailability and distribution. Details of complaints aremaintained in Complaints register.
Reporting period:
Monthly basis

Item - Sales data
Details:
Relevant sales and customer data in relation to WF products
Reporting period:
Monthly basis

5. Product Disclosure Statement (PDS)
to which this TMD applies
This TMD applies to the World First Product DisclosureStatement at:

7. Get in touch
Issuer: World First Pty Ltd— ABN 42 132 368 971— ACN 132 368 971
Level 1755 Clarence StreetSydney NSW 2000
T: 1-800 701 540 (within Australia)
T: (0)2 8298 4999 (International)
F: +61 (0)2 8298 4988
E: enquiries@worldfirst.com

WorldFirst AU/Disclaimer Policies

Australian Financial Services Licence Number: 331945
Issue date: 15 April 2022
Version: 15042022

6. Reviewing this TMD

worldfirst.com/au

WF will review the TMD in accordance with the below:
Initial review
Within 3 months of the effective date (5 Oct 2021) –to ensure alignment and compliance with WF Products
Periodic reviews
At least annually from the initial review.
Review triggers or eventsAny event or circumstances arise that would suggest theTMD is no longer appropriate. This may include (but notlimited to):— WF has determined that a significant dealing hasoccurred— a material change to the design or distribution of the
product, including related documentation;— distribution conditions found to be inadequate;— external events such as adverse media coverage orregulatory attention; and— significant changes in metrics, including, but not limited
to, complaints, fess/cost structure and key productfeatures
Where a review trigger has occurred, this TMD will be
reviewed within 10 business days.

worldfirst.com.au
worldfirst.com.au
World First Pty Ltd is regulated in Australia by ASIC (AFS License number 331945). ACN 132 368 971. ABN: 42 132 368 971. Member of Australian Financial Complaints Authority (membershipnumber 13405). The information contained is general in nature. Before acting on the information contained in this document, you should consider whether it is appropriate for you, in light of yourobjectives, financial situation or needs. You should also consider our Product Disclosure Statement (PDS), Financial Services Guide (FSG) and this TMD before making any decisions. You canread our PDS, FSG and this TMD at worldfirst.com/au/disclaimer-policies.