PayU Fintech Investments B.V. - Sep 22, 2021 Form 3 Insider Report for Remitly Global, Inc. (RELY)

Role: 10%+ Owner
Signature: /s/ Serge de Reus, Director; PayU Fintech Investments B.V
Stock symbol: RELY
Transactions as of: Sep 22, 2021
Transactions value $: $0
Form type: 3
Date filed: 9/29/2021, 04:05 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	RELY	Common Stock						15K	Sep 22, 2021	See Footnotes	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	RELY	Series Seed Prime Convertible Preferred Stock							Sep 22, 2021	Common Stock	71.6K		See Footnotes	F1, F2, F3
holding	RELY	Series A Convertible Preferred Stock							Sep 22, 2021	Common Stock	1.26M		See Footnotes	F1, F2, F3
holding	RELY	Series C Convertible Preferred Stock							Sep 22, 2021	Common Stock	1.62M		See Footnotes	F1, F2, F3
holding	RELY	Series D Convertible Preferred Stock							Sep 22, 2021	Common Stock	26.4M		See Footnotes	F1, F2, F3
holding	RELY	Series E Convertible Preferred Stock							Sep 22, 2021	Common Stock	1.68M		See Footnotes	F1, F2, F3
holding	RELY	Series F Convertible Preferred Stock							Sep 22, 2021	Common Stock	5.74M		See Footnotes	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares directly held by PayU Fintech Investments B.V. ("PayU") and indirectly held by Prosus N.V. and Naspers Ltd. Prosus N.V. and Naspers Ltd. previously filed a Form 3 reporting beneficial ownership of these securities on September 22, 2021. This Form 3 is being filed to reflect that PayU, the direct holder of these securities, is a Reporting Person. PayU is a subsidiary of MIH Fintech Holdings B.V., which in turn is a subsidiary of MIH e-Commerce Holdings B.V., which in turn is a subsidiary of MIH Internet Holdings B.V., which is in turn a subsidiary of Prosus N.V., which is an indirect, majority-owned subsidiary of Naspers Ltd. PayU is controlled by Prosus N.V. and Naspers Ltd., which share voting and dispositive control over the shares held by PayU. Naspers Ltd. employs a differential voting structure involving two South African entities, Naspers Beleggings (RF) Beperk ("Nasbel") and Keeromstraat 30 Beleggings (RF) Beperk ("Keerom"),
F2	(Continued from footnote 1), the sole remit of which is to protect the continued independence of Naspers Ltd. Each of Nasbel and Keerom disclaims beneficial ownership of all shares of Common Stock owned by the Reporting Persons, except to the extent of their respective pecuniary interest therein. Laurent Le Moal, a member of board of directors of the Issuer, is the Chief Executive Officer of PayU, but has no voting or dispositive control over the shares held by PayU.
F3	The reported security is convertible into the Issuer's Common Stock on a 1-for-1 basis at any time at the holder's election and shall automatically convert into Common Stock immediately prior to the closing of the Issuer's initial public offering without payment of further consideration. The shares have no expiration date.