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and Exchange Commission on June 25, 2026.\n\n \n\n \n\n \n\nUNITED STATES\n\nSECURITIES AND EXCHANGE\nCOMMISSION\n\nWashington, D.C. 20549\n\n \n\n \n\nForm\n20-F\n\n \n\n \n\n(Mark One)\n\n☐\n\n  REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nOR\n\n \n\n☒\n\n  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the fiscal year ended\n\nMarch 31, 2026\n\n \n\nOR\n\n \n\n☐\n\n  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the transition period from    to    \n\n \n\nOR\n\n \n\n☐\n\n  SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nDate of event requiring this shell\ncompany\nreport\n\n \n\nCommission file number\n\n001-43229\n\n \n\n \n\n \n\nWise Group plc\n\n(Exact name of Registrant as specified in its charter)\n\n \n\n \n\nN/A\n\n(Translation of Registrant’s name into English)\n\n \n\n \n\nJersey\n\n(Jurisdiction of Incorporation or Organization)\n\n \n\n \n\n1st Floor, Worship Square\n\n65 Clifton Street\n\nLondon EC2A 4JE\n\nUnited Kingdom\n\n(Address of principal executive offices)\n\n \n\n \n\n \n\nKristo Käärmann\n\nChief Executive Officer\n\nWise Group plc\n\n1st Floor Worship Square\n\n65 Clifton Street\n\nLondon EC2A 4JE\n\nUnited Kingdom\n\nTel: +1\n888 501 4041\n\nEmail: Owners@wise.com\n\n(Name, Telephone,\nE-mail\nand/or Facsimile number and Address of Company Contact Person)\n\n \n\n \n\nSecurities registered or to be registered pursuant to Section 12(b) of the Act.\n\n \n\nTitle of each class\n\n \n\nTrading Symbol(s)\n\n \n\nName of each exchange on which registered\n\nClass A ordinary shares, nominal value $0.01 per share\n\n \n\nWSE\n\n \n\nThe Nasdaq Global Select Market\n\nSecurities registered or to be registered pursuant to Section 12(g) of the Act. None\n\nSecurities for which there is a reporting obligation pursuant to Section 15(d) of the Act. None\n\n \n\n \n\nIndicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: As of May 31, 2026, Wise Group plc had 1,025,164,562 Class A ordinary shares and 204,338,749 Class B ordinary shares issued and outstanding.\n\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☐ Yes \n☒\n No\n\nIf this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.  ☐ Yes \n☒\n No\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☐ Yes \n☒\n No\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). \n☒\n Yes ☐ No\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a\nnon-accelerated\nfiler, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule\n12b-2\nof the Exchange Act.\n\n \n\nLarge accelerated filer\n \n☐\n  \nAccelerated filer\n \n☐\n \n\nNon-accelerated filer\n\n \n\n☒\n\n \n\n  \n\n \n\n \nEmerging growth company\n \n\n☐\n\nIf an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards\n\n†\n\nprovided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\n†\n\nThe term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.\n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. \n☐\n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. \n☐\n\nIndicate by check mark whether any of those error corrections are restatements that require a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §\n240.10D-1(b). \n☐\n\nIndicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:\n\n \n\nU.S. GAAP  \n☒\n\n  \n\nInternational Financial Reporting Standards as issued\n\nby the International Accounting Standards Board ☐\n\n  \nOther  ☐\n\nIf “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. ☐ Item 17 ☐ Item 18\n\nIf this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule\n12b-2\nof the Exchange Act). ☐ Yes ☒ No\n\n \n\n \n\n \n\n##### Table of Contents\n\nTABLE OF CONTENTS\n\n \n\n \n  \n \n  \nPage\n \n\n[INTRODUCTION](#rom17323_1)\n\n  \n \nii\n \n\n[CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS](#rom17323_2)\n\n  \n \niii\n \n\n[MARKET AND INDUSTRY DATA](#rom17323_3)\n\n  \n \nv\n \n\n[GLOSSARY](#rom17323_4)\n\n  \n \nvi\n \n\n[PART I](#rom17323_5)\n\n  \n \n1\n \n\n   \n\n  \n[Item 1. Identity of Directors, Senior Management and Advisers](#rom17323_6)\n  \n \n1\n \n\n  \n[Item 2. Offer Statistics and Expected Timetable](#rom17323_7)\n  \n \n1\n \n\n  \n[Item 3. Key Information](#rom17323_8)\n  \n \n1\n \n\n  \n[Item 4. Information on the Company](#rom17323_9)\n  \n \n40\n \n\n  \n[Item 4A. Unresolved Staff Comments](#rom17323_10)\n  \n \n65\n \n\n  \n[Item 5. Operating and Financial Review and Prospects](#rom17323_11)\n  \n \n65\n \n\n  \n[Item 6. Directors, Senior Management and Employees](#rom17323_12)\n  \n \n82\n \n\n  \n[Item 7. Major Shareholders and Related Party Transactions](#rom17323_13)\n  \n \n92\n \n\n  \n[Item 8. Financial Information](#rom17323_14)\n  \n \n95\n \n\n  \n[Item 9. The Offer and Listing](#rom17323_15)\n  \n \n95\n \n\n  \n[Item 10. Additional Information](#rom17323_16)\n  \n \n96\n \n\n  \n[Item 11. Quantitative and Qualitative Disclosures About Market Risk](#rom17323_17)\n  \n \n120\n \n\n  \n[Item 12. Description of Securities Other than Equity Securities](#rom17323_18)\n  \n \n120\n \n\n[PART II](#rom17323_19)\n\n  \n \n121\n \n\n  \n[Item 13. Defaults, Dividend Arrearages and Delinquencies](#rom17323_20)\n  \n \n121\n \n\n  \n[Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds](#rom17323_21)\n  \n \n121\n \n\n  \n[Item 15. Controls and Procedures](#rom17323_22)\n  \n \n121\n \n\n  \n[Item 16. [Reserved]](#rom17323_23)\n  \n \n123\n \n\n  \n[Item 16A. Audit Committee Financial Expert](#rom17323_24)\n  \n \n123\n \n\n  \n[Item 16B. Code of Ethics](#rom17323_25)\n  \n \n123\n \n\n  \n[Item 16C. Principal Accountant Fees and Services](#rom17323_26)\n  \n \n124\n \n\n  \n[Item 16D. Exemptions from the Listing Standards for Audit Committees](#rom17323_27)\n  \n \n124\n \n\n  \n[Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers](#rom17323_28)\n  \n \n124\n \n\n  \n[Item 16F. Change in Registrant’s Certifying Accountant](#rom17323_29)\n  \n \n124\n \n\n  \n[Item 16G. Corporate Governance](#rom17323_30)\n  \n \n124\n \n\n  \n[Item 16H. Mine Safety Disclosure](#rom17323_31)\n  \n \n125\n \n\n  \n[Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](#rom17323_32)\n  \n \n125\n \n\n  \n[Item 16J. Insider Trading Policies](#rom17323_33)\n  \n \n126\n \n\n  \n[Item 16K. Cybersecurity](#rom17323_34)\n  \n \n126\n \n\n[PART III](#rom17323_35)\n\n  \n \n128\n \n\n  \n[Item 17. Financial Statements](#rom17323_36)\n  \n \n128\n \n\n  \n[Item 18. Financial Statements](#rom17323_37)\n  \n \n128\n \n\n  \n[Item 19. Exhibits](#rom17323_38)\n  \n \n128\n \n\n[SIGNATURES](#rom17323_39)\n\n  \n \n130\n \n\n \n\ni\n\n##### Table of Contents\n\nINTRODUCTION\n\nWise Group plc (the “Registrant”) is a Jersey public limited company and the ultimate parent of Wise Limited (formerly Wise plc) and its consolidated subsidiaries. Wise Group plc was established as the ultimate holding company of the Group pursuant to a Scheme of Arrangement under Part 26 of the U.K. Companies Act 2006 (the “Scheme”), which was completed on May 8, 2026 (the “Reorganization Transaction”). On May 11, 2026, Wise Group plc’s ordinary shares were admitted to trading on the Nasdaq Stock Market LLC (“Nasdaq”), with the Group’s primary listing transferring from the London Stock Exchange (the “LSE”) to Nasdaq, while retaining a secondary listing on the LSE.\n\nThe consolidated financial statements included in this Annual Report on Form 20-F present the financial position and results of Wise Limited and its subsidiaries as of March 31, 2026 and 2025 and for the years ended March 31, 2026, 2025 and 2024. As the Scheme was completed subsequent to the financial reporting date, these financial statements are presented on the basis of Wise Limited as the then-ultimate holding company of the Group. References to the “Group” throughout this Annual Report on Form 20-F refer to Wise Limited and its subsidiaries for the period covered by these financial statements.\n\nWise Limited is the predecessor of the Registrant for financial reporting purposes. Following the completion of the Reorganization Transaction, Wise Group plc became the holding company, and its sole material asset is its equity interest in Wise Limited and its subsidiaries.\n\nUnless otherwise indicated or the context otherwise requires, all references in this Annual Report to the terms “we,” “us,” “our,” “Wise,” the “Group,” the “Company” and similar references refer to (i) prior to the completion of the Reorganization Transaction, Wise Limited and its wholly owned subsidiaries, and (ii) following the completion of the Reorganization Transaction, Wise Group plc and its wholly owned subsidiaries.\n\nThe principal activity of the Group is the provision of cross-border and domestic financial services.\n\nOur reporting currency is the U.S. dollar, and unless indicated otherwise, any non-U.S. dollar denominated amounts in this Annual Report have been calculated based on the March 31, 2026 closing exchange rate of £1.00 to $1.32. Our audited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).\n\n \n\nii\n\n##### Table of Contents\n\nCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS\n\nThis Annual Report contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this Annual Report can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “plan,” “potential” and “should,” among others. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.\n\nForward-looking statements appear in a number of places in this Annual Report and include, but are not limited to, statements regarding our intent, belief, or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. While we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. Such statements are subject to substantial risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various important factors, including, but not limited to, those identified in “Item 3.D. Key Information—Risk Factors.” In light of the significant uncertainties in these forward-looking statements, you should not unduly rely upon these statements nor regard these statements as a guarantee by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all.\n\nForward-looking statements include, but are not limited to, statements about:\n\n \n\n \n•\n \n\nour expectations regarding our revenue, operating expenses and other operating results;\n\n \n\n \n•\n \n\nour ability to acquire new customers and successfully retain existing customers;\n\n \n\n \n•\n \n\nour ability to maintain profitability;\n\n \n\n \n•\n \n\nanticipated trends, the size and growth rates of the markets in which we compete;\n\n \n\n \n•\n \n\nmarket acceptance of our products and our ability to increase adoption of our products, including customers’ changes in digital adoption;\n\n \n\n \n•\n \n\nfuture investments in our business, including investments in our infrastructure, our anticipated capital expenditures and our estimates regarding our capital requirements;\n\n \n\n \n•\n \n\nour ability to adapt to technological change and industry trends and innovate solutions for our customers;\n\n \n\n \n•\n \n\nour ability to scale, enhance and adapt our infrastructure, develop or acquire new products and services and bring them to market in a timely manner;\n\n \n\n \n•\n \n\nour ability to effectively and responsibly develop, deploy and integrate artificial intelligence and machine learning technologies, and to comply with evolving laws and regulations governing their use;\n\n \n\n \n•\n \n\nthe costs and success of our marketing efforts and our ability to maintain and enhance our brand;\n\n \n\n \n•\n \n\nour growth strategies, including our ability to manage our growth;\n\n \n\n \n•\n \n\nour ability to manage our international operations and expansion into new jurisdictions, including our exposure to foreign currency exchange rate fluctuations;\n\n \n\n \n•\n \n\nthe estimated addressable market opportunity for our products and services generally;\n\n \n\n \n•\n \n\nour reliance on key personnel and our ability to attract and retain highly qualified personnel;\n\n \n\n \n•\n \n\nour ability to obtain, maintain, protect and enforce our intellectual property rights and any costs associated therewith;\n\n \n\n \n•\n \n\nour ability to compete effectively with existing competitors and new market entrants;\n\n \n\niii\n\n##### Table of Contents\n\n \n•\n \n\nour ability to comply with applicable laws and regulations, including our ability to obtain and maintain required licenses, in the jurisdictions in which we currently and may in the future operate;\n\n \n\n \n•\n \n\nthe effect of regulatory developments in the jurisdictions in which we currently and may in the future operate;\n\n \n\n \n•\n \n\nour ability to successfully identify acquisition targets, consummate acquisitions and successfully integrate acquired businesses and personnel;\n\n \n\n \n•\n \n\nthe impact of unstable market and economic conditions, including as a result of actual or anticipated changes in interest and inflation rates and barriers to trade;\n\n \n\n \n•\n \n\nthe impact of political instability, shifts in immigration patterns or policies, global travel, natural disasters, events of terrorism, wars and other global events on our business, industry and the global economy;\n\n \n\n \n•\n \n\nthe performance, reliability, security and efficiency of our payments network, including the risk of service interruptions, outages or system failures; and\n\n \n\n \n•\n \n\nother risks and uncertainties, including those listed in “Item 3.D. Key Information—Risk Factors.”\n\nIn addition, forward-looking statements contained in this Annual Report represent our views only as of the date of this Annual Report and should not be relied upon as representing our views as of any subsequent date. We anticipate that subsequent events and developments may cause our views to change. Although we may elect to update these forward-looking statements publicly at some point in the future, we specifically disclaim any obligation to do so, except as required by applicable law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements.\n\n \n\niv\n\n##### Table of Contents\n\nMARKET AND INDUSTRY DATA\n\nCertain industry data and market data included in this Annual Report were obtained from independent third-party surveys, market research, publicly available information, reports of governmental agencies, and industry publications and surveys. All of the market data used in this Annual Report involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We believe that the information from these industry publications and surveys included in this Annual Report is reliable. The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the section titled “Item 3.D. Key Information—Risk Factors.” These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us.\n\n \n\nv\n\n##### Table of Contents\n\nGLOSSARY\n\nUnless otherwise indicated or the context otherwise requires, references in this Annual Report to:\n\n“2007 Law” refer to the Goods and Services Tax (Jersey) Law 2007.\n\n“2016 Option Plan” refer to the TransferWise 2016 Share Option Plan, which was adopted on June 15, 2016 and amended on February 27, 2019 and April 8, 2026.\n\n“2021 EIP” refer to the Rules of the TransferWise 2021 Equity Incentive Plan, which was adopted on January 1, 2021.\n\n“2026 Plan” refer to the Wise Group plc 2026 Equity Incentive Plan with Non-Employee Sub-Plan, adopted on April 8, 2026.\n\n“ADI” refer to an authorized deposit-taking institution in transaction, processing and other fees could increase our costs, affect our profitability, cause us to lose customers or otherwise under Australian law.\n\n“AFS” refer to Australian financial services.\n\n“API” refer to application programming interfaces.\n\n“APRA” refer to the Australian Prudential Regulation Authority.\n\n“Articles” refer to the articles of association of Wise Group plc.\n\n“ASIC” refer to the Australian Securities and Investments Commission.\n\n“AUSTRAC” refer to the Australian Transaction Reports and Analysis Centre.\n\n“Australian AML/CTF Act” refer to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).\n\n“Australian Banking Act” refer to the Banking Act 1959 (Cth).\n\n“BIPA” refer to the Illinois Biometric Information Privacy Act.\n\n“BSA/PATRIOT Act” refer to The Bank Secrecy Act of 1970, as amended by the USA PATRIOT Act of 2001.\n\n“CAN-SPAM Act” refer to the Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003.\n\n“CCPA” refer to the California Consumer Privacy Act.\n\n“CFPB” refer to the U.S. Consumer Financial Protection Bureau.\n\n“Clawback Policy” refer to the Incentive Compensation Recoupment Policy adopted by the board of directors in compliance with Section 10D of the Exchange Act and applicable rules of Nasdaq.\n\n“Code” refer to the Internal Revenue Code of 1986, as amended.\n\n \n\nvi\n\n##### Table of Contents\n\n“CREST” refer to the system for the paperless settlement of trades in securities and the holding of uncertificated securities operated by Euroclear UK & International Limited.\n\n“CTF” refer to counter-terrorist financing.\n\n“DFAT” refer to the Australian Department of Foreign Affairs and Trade.\n\n“Domestic Issuer Transition Date” refer to the date on which we cease to qualify as a foreign private issuer under the Exchange Act (or such other date as specified in the Articles).\n\n“DUAA” refer to the Data (Use and Access) Act 2025.\n\n“EFSA” refer to the Estonian Financial Supervision and Resolution Authority.\n\n“EFTA” refer to the Electronic Funds Transfer Act.\n\n“EMI” refer to an electronic money institution.\n\n“EMRs” refer to the Electronic Money Regulations 2011.\n\n“EMTN Program” refer to the £2 billion Euro medium-term note program established in November 2025.\n\n“ERMF” refer to the Enterprise Risk Management Framework.\n\n“EST” refer to the Wise Employee Share Trust.\n\n“EU GDPR” refer to the European Union’s General Data Protection Regulation.\n\n“Exchange Act” refer to the Securities Exchange Act of 1934, as amended.\n\n“Excluded Shareholders” refer to holders of certain Wise plc Class A ordinary shares (representing less than 0.1% of the issued Wise plc Class A ordinary shares) that are held on behalf of persons subject to restrictions under applicable sanctions laws, whose shares were not transferred to Wise Group plc on the date the Scheme became effective and will only be transferred upon such shareholders ceasing to be subject to sanctions or when appropriate authorization is obtained from the relevant authorities.\n\n“FAR” refer to the Financial Accountability Regime, as set out in the Australian Financial Accountability Regime Act 2023.\n\n“FCA” refer to the U.K. Financial Conduct Authority.\n\n“FCPA” refer to the Foreign Corrupt Practices Act.\n\n“FDIC” refer to the Federal Deposit Insurance Corporation.\n\n“FinCEN” refer to the Financial Crimes Enforcement Network.\n\n“FINRA” refer to the Financial Industry Regulatory Authority.\n\n“FOS” refer to the Financial Ombudsman Service.\n\n“FSMA” refer to the Financial Services and Markets Act 2000 (as amended).\n\n \n\nvii\n\n##### Table of Contents\n\n“GDPR” refer to, collectively, the EU GDPR and the U.K. GDPR.\n\n“GLBA” refer to the Gramm-Leach-Bliley Act.\n\n“HMRC” refer to HM Revenue and Customs.\n\n“IRS” refer to the Internal Revenue Service.\n\n“Jersey Companies Law” refer to the Companies (Jersey) Law 1991, as amended.\n\n“Legacy Plans” refer to, collectively, the 2016 Option Plan, the 2021 EIP and the LTIP.\n\n“LGPD” refer to Brazil’s General Data Protection Law (Lei Geral de Proteção de Dados Pessoais) (Law No. 13,709/2018).\n\n“LSE” refer to the London Stock Exchange.\n\n“LTIP” refer to the Long Term Incentive Plan.\n\n“Memorandum” refer to the memorandum of association of Wise Group plc.\n\n“MIFIDPRU” refer to the FCA’s Prudential sourcebook for MiFID Investment Firms.\n\n“ML” refer to machine learning.\n\n“MLRs” refer to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.\n\n“MSB” refer to a Money Services Business.\n\n“MTLs” refer to money transmitter licenses.\n\n“Nasdaq” refer to the Nasdaq Stock Market LLC.\n\n“NBB” refer to the National Bank of Belgium.\n\n“OCC” refer to the Office of the Comptroller of the Currency.\n\n“OECD” refer to the Organization for Economic Co-operation and Development.\n\n“OFAC” refer to the Office of Foreign Assets Control.\n\n“OFSI” refer to the Office of Financial Sanctions Implementation, His Majesty’s Treasury.\n\n“PCI DSS” refer to the Payment Card Industry Data Security Standard.\n\n“PECR” refer to the Privacy and Electronic Communications (EC Directive) Regulations 2003.\n\n“PFIC” refer to a passive foreign investment company for U.S. federal income tax purposes.\n\n“PIPL” refer to China’s Personal Information Protection Law.\n\n“POCA” refer to the Proceeds of Crime Act 2002.\n\n \n\nviii\n\n##### Table of Contents\n\n“PPF” refer to purchased payment facilities.\n\n“PSD2” refer to the Revised Payment Service Directive.\n\n“PSRs” refer to the Payment Services Regulations 2017.\n\n“QEF Election” refer to a qualified electing fund election under Section 1295 of the Code.\n\n“RCSA” refer to Risk and Control Self-Assessment.\n\n“Regulation E” refer to the implementing regulation of the Electronic Funds Transfer Act, which provides additional detail with respect to the rights and remedies set forth in the EFTA as applied to consumer customers.\n\n“Reorganization Transaction” refer to the reorganization completed on May 11, 2026, pursuant to which Wise Group plc became the ultimate parent of Wise Limited and its consolidated subsidiaries by means of the Scheme.\n\n“Revolving Credit Facility” refer to the £330.0 million multicurrency revolving facility agreement with a syndicate of banks entered into on December 12, 2024 for a period of three years, with the potential for two one-year extensions.\n\n“Scheme” refer to the Scheme of Arrangement under Part 26 of the U.K. Companies Act 2006, completed on May 8, 2026.\n\n“SDN list” refer to the Specially Designated Nationals and Blocked Persons List maintained by OFAC.\n\n“SDRT” refer to stamp duty reserve tax.\n\n“SEC” refer to the U.S. Securities and Exchange Commission.\n\n“Securities Act” refer to the Securities Act of 1933, as amended.\n\n“SM&CR” refer to the Senior Managers & Certification Regime.\n\n“Substance Law” refer to the Taxation (Companies—Economic Substance) (Jersey) Law 2018.\n\n“TACT” refer to the Terrorism Act 2000.\n\n“TCPA” refer to the Telephone Consumer Protection Act.\n\n“TPM Policy” refer to the Third-Party Management & Outsourcing Policy.\n\n“Treaty” refer to the U.S.-U.K. income tax treaty.\n\n“U.K. GDPR” refer to the United Kingdom’s General Data Protection Regulation.\n\n“U.S. GAAP” refer to generally accepted accounting principles in the United States of America.\n\n“Wise Assets Europe” refer to Wise Assets Europe AS, authorized by the EFSA under the Securities Markets Act.\n\n“Wise Assets UK” refer to Wise Assets UK Ltd (FRN 839689), authorized by the FCA.\n\n \n\nix\n\n##### Table of Contents\n\n“Wise Australia” refer to Wise Australia Pty Ltd, our Australian regulated entity.\n\n“Wise Card” refer to the Wise Multi-Currency Card.\n\n“Wise Europe” refer to Wise Europe SA, regulated as a Payment Institution in Belgium by the NBB.\n\n“Wise US” refer to Wise US Inc., our U.S. regulated entity registered as an MSB with FinCEN.\n\n“Wise US Assets” refer to Wise US Assets Inc., a registered broker-dealer with the SEC and member of FINRA.\n\n“WNT” refer to Wise National Trust, a proposed nondepository national trust bank for which an application has been submitted to the OCC.\n\n“WPL” refer to Wise Payments Limited (FRN 900507), authorized by the FCA as an EMI.\n\n \n\nx\n\n##### Table of Contents\n\nPART I"}