Fee Model Analysis

Assa Abloy Opening Solutions — Service Fee vs Percentage Model

Existing Client • 12-Month Analysis • 37 Cost Centres

$532,860

Net travel spend (12 months, ex GST)

1.29%

Effective management fee rate

Management fees

$6,867

Finance costs

$7,532

Trips

472

Unique travellers

154

Key Finding

Very low management rate

At 1.29%, Assa Abloy’s management fee rate is well below the 3.5% Premium percentage rate. Merchant fees ($7,532) are a separate finance cost.

International heavy

53% of travel spend is international, which attracts higher fares but lower per-transaction fees than domestic — driving the low effective rate.

% model comparison

At 3.5% + platform fee, annual management cost would be $22,238 — $15,371 more than current. The % model would need to be set at ~1.0% to match.

Period: March 2025 – March 2026 • All figures ex GST unless stated • $533K annual travel spend • Merchant fees classified as finance cost

2

Where the travel dollar goes.

12 months of WBT-managed travel across 37 cost centres. An air-dominated profile with a significant international component. All figures ex GST.

Category	Amount (ex GST)
Travel Spend
Flights (615 tickets)	$555,225
Ancillary / EMD (26 items)	$3,302
Car hire (5 bookings)	$1,586
Other services	$75
Gross Travel	$560,188
Adjustments
Refunds (17 transactions)	−$27,328
Net Travel Spend	$532,860

Source: WBT Customer Detail Report, Assa Abloy Opening Solutions Australia, 1 Mar 2025 – 1 Mar 2026. 1,789 transaction rows. 12-month period.

53% international

International — $280K

Domestic — $245K

Trans-Tasman — $8K

International-heavy profile

Over half the travel spend is international, with 15 airlines used across Asia-Pacific, North America and Europe. Average international trip value is significantly higher than domestic, which keeps the per-transaction fee rate low.

472

Trips (12 months)

$1,129

Avg net spend per trip

90% online adoption

90% online 8% consultant 2% after hours

High self-service adoption — only 22 of 1,125 service fee transactions are consultant or after-hours bookings.

3

Current fee structure.

On the WBT service fee model, Assa Abloy pays per-transaction booking fees and change fees. Merchant fees ($7,532) are a finance cost and analysed separately. All figures ex GST, 12-month period.

Fee Type	Amount (ex GST)
Booking Fees
Online Domestic Booking (404)	$2,929
Consultant Booking (17)	$1,530
Online International Booking (34)	$245
Online Trans-Tasman Booking (10)	$70
Other online bookings (4)	$28
Change & Other Fees
Post-ticketing changes (87)	$1,917
After hours (2)	$70
Consultant domestic booking (2)	$53
Other (1)	$25
Total Management Fees	$6,867

Note: Merchant fees ($7,532 over 12 months) are a finance/card processing cost and are excluded from the management fee comparison. See Slide 9 for finance cost analysis.

1.29% Management fee rate on net travel spend

$6,867 in management fees on $532,860 net travel (12 months, ex GST)

Online Booking

$3,272

Changes

$1,917

Consultant

$1,608

After hrs / other

$70

$15

Avg mgmt fee per trip (ex GST)

$1,129

Avg travel per trip (ex GST)

Exceptionally low management rate

At just 1.29% of travel spend, Assa Abloy’s management fees are well below industry norms. The high-value international travel component ($5,383 avg trip) means flat booking fees have minimal impact on the overall rate.

4

The true cost of changing plans.

15% of invoices involve a post-ticketing change. When a trip changes, costs stack up: the re-issued fare, airline penalties, and WBT’s change fee. Identified by matching invoice numbers where a change fee exists. All figures ex GST.

$18K Total cost of changes over 12 months

Including re-issued fares, airline penalties and WBT change fees (ex GST)

Change Component	Amount (ex GST)
Supplier Change Costs
Re-issued fares (67 tickets on change invoices)	$13,223
Airline penalties / EMD (17 items on change invoices)	$2,417
Supplier Subtotal	$15,640
WBT Change Fees
(D) Post-ticketing changes (57)	$1,146
(D)/(TT) Post-ticketing changes (18)	$360
(I) Post-ticketing changes (7)	$315
(TT) Post-ticketing changes (5)	$96
WBT Change Fee Subtotal	$1,917
Total Cost of Changes	$17,557

Change invoices identified by the presence of a post-ticketing change fee. All AirTicket and EMD rows on those 86 invoices are classified as change-related supplier costs.

86

Change invoices (of 578)

14.9%

Of all invoices changed

$204

Avg cost per change invoice

$22

WBT change fee per change

Change cost breakdown

Re-issued fares

$13,223

Airline penalty

$2,417

WBT change fee

$1,917

Percentage model advantage on changes

WBT’s percentage model does not charge its fee on change-related costs. The $1,917 in WBT change fees would be eliminated, and the $13,223 in re-issued fares would not attract a percentage fee. Airline penalties ($2,417) remain regardless of fee model.

Re-issued fares are the biggest component

75% of change costs are the re-issued fares themselves ($13,223). These represent the fare difference when a ticket is changed — the new ticket cost that appears on the same invoice as the change fee. WBT and airline fees together are just 25% of total change costs.

5

Domestic vs international.

The travel mix shapes fee economics. International trips are higher value but fewer in number, with lower management fees per dollar of travel. Domestic trips attract more per-transaction fees relative to their spend. Merchant fees excluded.

Travel Type	Spend (ex GST)
By Travel Type
International (52 trips)	$279,898
Domestic (393 trips)	$244,676
Trans-Tasman (8 trips)	$8,286
Total	$532,860

Average trip value: International trips average $5,383 vs domestic at $623. The high-value international component dilutes the overall management fee percentage.

15 airlines used

Virgin Australia (34%, $178K) and Qantas (29%, $161K) dominate domestic. International spans Cathay Pacific, United, Air NZ, Qatar Airways, Singapore Airlines and more — reflecting Assa Abloy’s global operations.

$5,383

Avg international trip

$623

Avg domestic trip

0.79%

International mgmt fee rate

1.85%

Domestic mgmt fee rate

Management fee rate by travel type (ex merchant fees)

Domestic

1.85%

Trans-Tasman

1.77%

International

0.79%

Blended

1.29%

Service fee model advantage

With high-value international travel, the per-transaction service fee model naturally delivers a very low effective rate. International trips pay a flat $7 booking fee on fares averaging $5,383, pulling the blended rate well below any percentage model.

6

Travel by cost centre.

37 cost centres across the business. PNEA Office dominates with 35% of travel spend, followed by D&D and Marketing. Management fee rates range from 0.7% to 3.1% depending on travel mix. Merchant fees excluded. Top 10 cost centres shown.

Cost Centre	Travel (ex GST)	Mgmt Fees	Mgmt Rate	Trips	% of Total
PNEA Office	$187,130	$1,269	0.7%	55	35%
D&D	$65,753	$742	1.1%	34	12%
Marketing Communication	$32,515	$710	2.2%	38	6%
Lietzke	$32,176	$592	1.8%	44	6%
General Mgr Aust	$28,265	$365	1.3%	25	5%
Sales — Locksmiths National	$25,156	$514	2.0%	42	5%
Sales — OEM National	$17,156	$244	1.4%	32	3%
Sales — Retail/DIY	$16,435	$269	1.6%	26	3%
Spence Door	$13,867	$427	3.1%	19	3%
Product Management	$13,758	$196	1.4%	23	3%
All 37 Cost Centres	$532,860	$6,867	1.29%	472	100%

PNEA Office: 0.7% management rate

The largest cost centre has the lowest management fee rate, driven by high-value international travel. PNEA accounts for 35% of travel but only 18% of management fees.

Domestic-heavy centres pay more

Cost centres with predominantly domestic travel (Spence Door 3.1%, Marketing 2.2%) have higher effective rates, as the flat booking fee has a greater impact on lower-value fares. But even the highest rate is below 3.5%.

7

What the percentage model looks like.

WBT’s percentage model charges a simple rate on travel cost plus a monthly platform fee. No per-transaction booking fees, no merchant fees billed separately, no change fees.

3.5%

of travel cost

WBT Premium fee

$299

monthly platform fee

Single account pricing

$0

Booking fees

$0

Change fees

$0

Separate merchant fees

Current service fee model:

Per-transaction booking fees ($7.00 domestic, $7.00 intl online) + merchant fees on card payments + change fees ($18–$90 per change) + consultant fees ($45–$90). Effective rate varies by cost centre from 1.8% to 4.8%.

Percentage model:

One simple percentage on all travel. Predictable costs that scale linearly with spend. No per-transaction complexity, no fee variability between cost centres.

8

The numbers, side by side.

12 months of actual data. The percentage model charges on upfront travel only — not on change-related costs ($15,640). Merchant fees are a finance cost, analysed on the next slide. All figures ex GST.

	Service Fee (current)	% Model (3.5%)
Total net travel	$532,860	$532,860
Less change-related travel	—	−$15,640 no fee on changes
Fee base	$532,860 all travel	$517,220 upfront only
Booking & change fees	$6,867	—
Travel fee (3.5%)	—	$18,103
Platform fee	—	$3,588 $299/mo
Annual management cost	$6,867	$21,691
Effective rate (on total travel)	1.29%	4.07%
Difference	—	+$14,824/yr

All figures ex GST • 12-month actuals • Merchant fees ($7,532) excluded — classified as finance cost • Change-related travel ($15,640) excluded from % model fee base

$14,824 More per year on the 3.5% model

216% increase vs current management fees

Annual management cost at different % rates (ex GST)

Current fees

$6,867

1.0% model

$8,760

2.0% model

$13,932

2.5% model

$16,519

3.5% model

$21,691

Break-even at ~0.6%

A percentage model would need to be set at approximately 0.6% + $299/mo to match current management fees ($6,867). Even at 1.0%, the % model costs $1,893 more. The service fee model is significantly cheaper at this travel profile.

9

When you factor in finance costs.

Card surcharges apply to both models. Under the current service fee model, merchant fees are $7,532. Under the percentage model, card surcharges are applied to the full invoice (travel + management fee). All figures ex GST.

Scenario	Mgmt Fee	Finance	All-in	vs Current
Current Service Fee Model (12 months)
Current (card payments)	$6,867	$7,532	$14,399	—
WBT Premium 3.5% (12 months)
+ Visa/MC card	$21,691	$8,318	$30,009	+$15,610
+ Amex card	$21,691	$10,536	$32,227	+$17,828
WBT Premium 2.0% (12 months)
+ Visa/MC card	$13,932	$8,202	$22,134	+$7,735
+ Amex card	$13,932	$10,389	$24,321	+$9,922

All figures ex GST, 12 months actual • Current finance: actual merchant fees charged • WBT surcharges: 1.5% Visa/MC, 1.9% Amex on total invoice (travel + mgmt fee) • % fee applied to upfront travel ($517K) only

$30K All-in cost on 3.5% + Visa (vs $14K current)

Finance costs amplify the gap — % model generates a larger invoice, which attracts a larger card surcharge

All-in annual cost (mgmt + finance, ex GST)

Current

$14,399

3.5% + Visa

$30,009

3.5% + Amex

$32,227

2.0% + Visa

$22,134

Finance costs widen the gap further

Under the % model, card surcharges are applied to the full invoice (travel + mgmt fee). A higher management fee means a higher surcharge base. Even at 2.0%, the all-in cost ($22,134) is 54% more than current ($14,399).

10

Fee model comparison summary.

Assa Abloy’s travel profile — international-heavy, high average booking value, strong online adoption — means the service fee model delivers a significantly lower cost than the standard percentage model.

1.29%

Current management fee rate

4.07%

At 3.5% + platform

~0.6%

Break-even % rate

Service fee advantage

Management fees of $6,867 vs $21,691 at 3.5%. The high-value international travel mix naturally keeps the per-transaction rate very low at 1.29%.

Finance costs separate

Merchant fees ($7,532) are card processing — a finance cost, not a management fee. Even all-in ($14,399), current costs are well below 3.5% model ($21,691).

Volume trajectory

Feb 2026 was the highest-spend month ($109K). If international travel grows, the service fee advantage widens. If domestic grows, the gap narrows.

Percentage model scenarios (12 months, ex GST, on upfront travel of $517K)

$8,760

1.0% + $299/mo

+$1,893 vs current

$13,932

2.0% + $299/mo

+$7,065 vs current

$16,519

2.5% + $299/mo

+$9,652 vs current

$21,691

3.5% + $299/mo

+$14,824 vs current

Analysis based on 12 months of actual WBT data (Mar 2025 – Mar 2026) • All figures ex GST • Merchant fees ($7,532) classified as finance cost • 3.5% model includes $299/mo platform fee

11

Data sources & verification.

Every figure is derived from the WBT Customer Detail Report. Open the source CSV in Excel and use filters to verify any number.

Data Point	Value
Source file	Customer Detail Report
Entity	Assa Abloy Opening Solutions Australia
Period	1 Mar 2025 – 1 Mar 2026 (12 months)
Total rows	1,789
Segment types	AirTicket, ServiceFee, Emd, Vehicle, GenericSegment, Refund
Unique trips	472
Unique travellers	154
Cost centres	37

How to verify in Excel

Open the CSV → Data → Filter. Use the segment_type column to filter, then check the SUM of ex_gst_amount in the status bar. Example filters:

Flights: segment_type = “AirTicket” → sum = $555,225
All service fees: segment_type = “ServiceFee” → sum = $14,399
Merchant fees: segment_type = “ServiceFee”, segment_info = “Merchant Fee” → sum = $7,532
Management fees: ServiceFee minus Merchant Fee → $14,399 − $7,532 = $6,867
Refunds: segment_type = “Refund” → sum = −$27,328
Domestic travel: booking_travel_type = “Domestic”, segment_type = non-fee → sum = $244,676
International travel: booking_travel_type = “International”, segment_type = non-fee → sum = $279,898

Methodology

Net travel spend = AirTicket + Vehicle + GenericSegment + Emd + Refund segments (ex GST). Management fees = ServiceFee segments excluding Merchant Fee rows (ex GST). Finance costs = Merchant Fee rows only. Effective rate = management fees ÷ net travel spend. % model = rate × travel + $299 × 12.

Report period: 1 Mar 2025 – 1 Mar 2026 (12 months) • First booking: 26 May 2025 • Last booking: 27 Feb 2026 • All figures verified against source CSV