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2026 Half Year Results ASX:ABB 23 February 2026 For personal use only
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Aussie Broadband acknowledges Aboriginal and Torres Strait Islanders as the First Australians, and for their role as the original communicators, connectors, and carers of the land and waters across Australia. We pay our respects to Elders past and present. We commit to working respectfully to honour ongoing cultural and spiritual connections between the Traditional Owners and this country and to building an inclusive Australia together. 2 For personal use only
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Agenda Speakers 3 01 H1 FY26 Overview 02 Financials 03 Segment Performance 04 Upgraded Strategic Ambitions 05 Trading Update and Guidance 06 Appendices Brian Maher Group CEO Andy Giles Knopp Group CFO For personal use only
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4 Aussie Broadband Group Loved by customers Significant recognition by customers and partners • Australia’s Most Trusted Telco - Roy Morgan 2021-2025 • Most Satisfied Small Business Customers Award – NBN Providers, Canstar Blue 2025 • Quality Service Award for Internet Service Providers - 2026 Reader's Digest • Top Rated Internet Service Provider – Product Review 2022-2026 • Australian Partner of the Year – Fortinet 2025 Diversified Telco Multiple growth levers across products and channels • Multi-channel go-to-market approach; market coverage into banking and energy through partnerships with More and AGL • Well positioned to attract a diversified customer mix and take further share in broadband and mobile • Strong momentum and increasing referenceability in Business and E&G • Delivering high-quality connectivity and service to wholesale partners Strong financials Flexibility to pursue and deliver growth opportunities • Sustained earnings growth through segment and product diversification and improved productivity • Net leverage ratio remains below 1.0x; financial strength enables continued organic growth initiatives and M&A • Ability to return enhanced returns to shareholders Strategic assets Owned and proprietary assets underpin a scalable moat • 1,977 km Aussie Fibre network • 100% Australian based customer support over three call centres • Enablement platforms for scaled growth; powering multiple NBN wholesale partners and MVNOs • Nitrogen platform enhanced in H1 FY26; enables wholesale customer migrations at scale • Two Tier 1 voice networks For personal use only
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H1 FY26 Overview 01 5 5 For personal use only
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6 H1 FY26 Highlights 14% growth in broadband connections & 8.8% NBN market share¹ A step change in average speeds through Accelerate Great; Aussie winning in high-speed world with nearly 70% of connections on 100 Mbps+ Underlying EBITDA $74.7m, up 13.5% on pcp Continued revenue growth across all segments, scale and efficiency benefits offsetting gross margin pressure from competitive market Aussie Fibre strategy reshaped Investment focused in on-net buildings and improving returns; capital allocation to higher return acceleration of replatforming to drive future simplicity and productivity Nitrogen wholesale enablement platform delivered ~290,000 More & Tangerine connections to be migrated over H2 FY26, material earnings uplift from FY27 Accelerating and exceeding original Look-to-28 strategy Ambitions upgraded with a combined 640,000 broadband and mobile connections to be migrated in CY26 3 Strong underlying EBITDA uplift and market share gains; positioned to become third largest NBN service provider by end of 2026 Productivity a focus and supports long-term profitability Opex to revenue improvement of 1.2 ppts on pcp 1. Excludes NBN Satellite For personal use only
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7 H1 FY26 Operational metrics 8.8% 828k 240k 8.1m Numbers hosted on Symbio & NetSIP 1,977km Market share of on-net NBN services¹ Broadband connections across the Group Mobile services across the Group Australia’s most trusted telco Most trusted Telco brand for the fifth consecutive year3Call minutes in H1 FY26 across our domestic networks Aussie Fibre Network Connected buildings 1,057 4.5 bn 1,317 Fibre Customers 1. Market share calculation excludes NBN Satellite 2. On-net connections excludes NBN Satellite 3. As measured by Roy Morgan Up 24k vs Jun-25Up 0.4 ppts vs Jun-251 Up 39k vs Jun-252 1.25 Connections per building For personal use only
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H1 FY26 Financials 02 8 For personal use only
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H1 FY26 Financial highlights 1. Underlying EBITDA calculated as statutory EBITDA, adding back one-off items 2. Operating cash flow before interest and tax 3. Underlying NPATA calculated as statutory NPAT, adding back post-tax one-off items and post-tax acquired intangible amortisation 4. Calculated as Underlying NPATA divided by the weighted average number of shares in 1H FY25 (295,680,839 ordinary shares) and in 1H FY26 (291,141,442 ordinary shares) Revenue $637.8m Up 8.4% EPS4 10.7 cents Up 26.5% Underlying NPATA3 $31.3m Up 24.5% Operating Cash Flow2 $57.1m Up 15.9% Underlying EBITDA1 $74.7m Up 13.5% 25% growth in NPATA3; on track to meet upper end of full year EBITDA guidance 9 For personal use only
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Profit & Loss Like-for like underlying EBITDA² up 27.0% Like-for-like revenue growth² of 13.5% driven by: • 13.7% increase in broadband connections • Continued success in winning new Business and E&G customers • Strong growth in data and mobile within Wholesale Gross margin of 36.3% in line with H2 FY25 and a strong position in a competitive market Like-for-like underlying EBITDA² up 27.0% - strong growth across all segments Underlying NPATA up 24.5%: • Continued productivity gains • Favorable net interest due to lower net debt and interest rates • Improved Buddy contribution Interim dividend of 2.4 cents declared 10 1. Underlying EBITDA calculated as statutory EBITDA, adding back post-tax one-off items 2. Like-for like comparisons exclude $26.4m of revenue and $7.0m of EBITDA from Origin 3. Calculated as Underlying NPATA divided by the weighted average number of shares in 1H FY25 (295,680,839 ordinary shares) and 1H FY26 (291,141,442 ordinary shares) 1H FY25 1H FY26 Change $m $m Revenue 588.5 637.8 8.4% Gross margin 217.6 231.7 6.5% Gross margin % 37.0% 36.3% (0.7 ppts) Operating expenses (151.9) (157.1) (3.4%) Underlying EBITDA 65.8 74.7 13.5% EBITDA margin 11.2% 11.7% 0.5 ppts Depreciation and amortisation (23.8) (24.5) (3.3%) Underlying EBIT 42.0 50.1 19.3% Net interest (8.1) (6.8) 16.1% Income tax (8.8) (12.1) (36.9%) Underlying NPATA 25.1 31.3 24.5% Amortisation - acquired intangibles (9.3) (9.0) 3.3% Underlying NPAT 15.8 22.3 40.9% EPS³ (cents) – underlying NPATA 8.5 10.7 2.2 Interim ordinary dividend (cents) 1.6 2.4 0.8 Interim special dividend (cents) 2.4 - (2.4) For personal use only
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Like-for-like EBITDA growth of 27%¹ Commentary 1. Origin direct contribution, gross margin less direct customer service costs 2. Buddy net contribution of ($2.4m) in H1 FY26 - $2.5m improvement 3. Cost to increase capacity enabling future migration of wholesale customers and M&A related expenses 4. Strong growth across all segments 11 1 2 3 H1 FY25 Origin Buddy Growth & productivity H1 FY26One-off migration & M&A costs 4 65.8 (7.0) 2.5 (1.9) 15.4 74.7 $ million 40 45 50 55 60 65 70 75 80 1. Underlying EBITDA calculated as statutory EBITDA, adding back post-tax one-off items and excluding Origin For personal use only
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Cash Flow & Balance Sheet Financial flexibility to pursue growth opportunities Operating cash flow impacted by: • One-off cash incentive of $2.5m paid to More as part of the consideration for a six-year Wholesale Services Agreement • $3m advance payments on hardware and software licences relating to BE&G customer contracts • $5m upfront payments for a three-year term on non-discretionary expenses on commercially attractive terms Divestment in Accumo Group for $7.6m, yielding a profit before tax of $0.3m Refinancing of debt facility completed in January 2026, delivers savings from FY27; $195m available to redraw $7.0m returned to shareholders via fully franked dividend NLR remains well below target range of 1.75 - 2.50x; capacity to pursue inorganic opportunities 12 Key metrics H1 FY25 H1 FY26 Change $m $m Operating cash flow (before interest and tax) 49.3 57.1 15.9% Cash conversion ratio 74.9% 76.5% 1.6 ppts Cash and cash equivalents 135.4 114.8 (15.2%) Net debt (101.2) (139.2) (37.6%) Net leverage ratio (NLR) 0.7x 0.9x 0.2x For personal use only
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Strategic investments in Capex Aussie Fibre network build out focused on on-net only Platform development for scaled migrations and enablement • Nitrogen platform ready for More & Tangerine migration • New age enablement platform for Medion migration and further growth in enablement New Traralgon (VIC) customer service centre opened in February 2026 to elevate employee experience Capex guidance of $55-60m in FY26 reaffirmed, incorporating impact of M&A activity 13 H1 FY26 Capex aligned to key priorities Infrastructure & customer growth Lifecycle replacement Aussie Fibre – core and customer growth Employee enablement and experience Uplift in capability 8 7 5 4 3 H1 FY25 H1 FY26 $27m $48m For personal use only
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H1 FY26 Segment Performance 03 14 For personal use only
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1H FY251 1H FY26 Change $m $m Revenue 327.1 375.3 14.7% Cost of Goods Sold (224.9) (257.1) (14.3%) Gross Margin 102.2 118.2 15.7% Gross Margin % 31.2% 31.5% 0.3 ppts Residential 15 15% revenue growth, gross margin % improvement and continued customer service efficiencies delivered 1. Comparatives restated for revised segment structure, see pages 36 and 37 for further information. 2. At 31 December 2025, inclusive of new services, customer movements between segments and churn H1 FY26 Highlights Revenue up 14.7% - gaining share in a competitive market • 8% pcp growth in NBN broadband services; on-net NBN market share up 0.4ppt to 8.8% • 20% growth in OptiComm connections to 43k services; high-speed tier capability yet to be launched • Mobile gaining momentum with 33% pcp growth to 85k connections, driven by successful bundling and low churn Gross margin % marginally ahead of pcp • Mix shift to faster speed plans, strategic approach to pricing and higher access costs Disciplined cost management and efficiencies in customer service (14% improvement in staff to customer ratio since June 2025) 589 615 642 666 6 14 16 Jun-24 Dec-24 Jun-25 Dec-25 Broadband Connections (‘000)2 Aussie Broadband Buddy For personal use only
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Accelerate Great delivers step change in speed tiers Leading the market with the highest customer awareness of high-speed1, first RSP to launch high-speed plans Since October 2025, 60% of new customers have signed up for the new 500Mbps+ plans MultiGb speed tiers launched in September 2025 – Aussie Broadband leading the market take up with over 2.7k connections Positioning as a premium provider of high-speed broadband maintained; diversified go-to-market enables growth across a broader customer base All eligible FTTP and HFC Residential customers upgraded to new high-speed tiers on Day 1 of NBN’s ‘Accelerate Great’ in September 2025 16 44% Customers on new 500Mbps+ speed tiers 69% Customers on 100Mbps+, up 13 ppts vs Jun 25 1. Based on Research conducted by Sprout Strategy in Oct-Dec 2025 For personal use only
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1H FY251 1H FY26 Change $m $m Revenue 104.3 115.5 10.8% Cost of Goods Sold (56.8) (63.5) (11.8%) Gross Margin 47.4 52.0 9.6% Gross Margin % 45.5% 45.0% (0.5 ppts) Business, Enterprise & Government Higher value contract mix driving growth 1. Comparatives restated for revised segment structure, see pages 36 and 38 for further information. 2. At 31 December 2025, inclusive of new services, customer movements between segments and churn H1 FY26 Highlights Revenue growth of 10.8% - driven by strong growth in NBN connections and higher average deal size: • Record month in new Business connections achieved in October • Continued momentum in mobile with over 5.2k new services activated • Average contract value up 38% on pcp; largest E&G deal to date signed in October • Key customer wins driving strong growth in Hardware sales Streamlined customer project delivery; average time reduced by 15 days Superior service quality and enhanced market referenceability underpins pipeline momentum and increasing deal size Gross margin % marginally impacted by broadband speed mix 17 56 61 64 70 13 15 16 17 Jun-24 Dec-24 Jun-25 Dec-25 Broadband Connections (‘000)2 Business E&G For personal use only
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7.3 7.6 7.9 8.1 Jun-24 Dec-24 Jun-25 Dec-25 Hosted numbers3 (m) 112 119 126 134 Jun-24 Dec-24 Jun-25 Dec-25 Mobile SIOs (‘000) Wholesale Strong delivery pipeline in place to drive future growth; proprietary platforms enable 290k migrations in H2 FY26 18 1. 17k Symbio services migrated to the Aussie Broadband platform from a third-party provider in June 2025; excludes Origin 2. Comparatives restated for revised segment structure, see pages 36 and 39 for further information. 3. Prior period numbers adjusted for the removal of inactive numbers H1 FY26 Highlights Revenue up 12.5% - strong growth in mobile and data • 12.7% growth in Mobile SIOs • Broadband connections up 90.5% Largest wholesale customer signed in August Gross margin % lower due to product mix with data and mobile outpacing voice, and growth in lower margin international swaps trading Delivery pipeline underpins strong outlook for H2 FY26 and beyond Capability to migrate data connections at scale to deliver long-term growth 26 31 52 59 Jun-24 Dec-24 Jun-25 Dec-25 Broadband Connections1 (‘000) 1H FY251,2 1H FY26 Change $m $m Revenue 130.7 147.0 12.5% Cost of Goods Sold (72.1) (85.5) (18.6%) Gross Margin 58.6 61.6 5.0% Gross Margin % 44.8% 41.9% (2.9 ppts) For personal use only
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Upgraded Strategic Ambitions 04 19 For personal use only
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20 Migration accelerates Wholesale segment growth Aussie Broadband’s NBN broadband connections to exceed 1 million by 30 June 2026 1. Based on estimated More and Tangerine connections at the time of migration; before amortised incentives of $5m per annum over the duration of the contract 2. Based on FY25 underlying NPATA 3. Final cash consideration dependent on number of customers migrated and other post migration adjustments Six-year Wholesale Services Agreement with More • An estimated 290,000 connections across two brands to be migrated, including Buddy connections • More & Tangerine are 40% owned by Commonwealth Bank of Australia (CBA) and More is the exclusive telco partner to the CBA’s customer recognition program, CommBank Yello • Delivers material uplift in earnings and growth prospects • $12m in annualised EBITDA¹ from FY27; further upside from fast-growing customer base • 12% accretive² to underlying EPS on a pro forma basis • Aussie Broadband’s proprietary wholesale platform Nitrogen delivered; underpins network systems • Migration of existing customers to commence in March 2026, and expected to complete by June 2026 • Minimal net impact on FY26 financials Tangerine acquisition of Buddy Telco • Buddy brand and customer assets to be sold to Tangerine for between $6m and $7m³ • 16k connections at 20 February 2026 • Connections remain on the Aussie Broadband network per Wholesale Services Agreement with More • Transaction expected to complete by end of March 2026, post migration of connections to Tangerine For personal use only
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1. Based on the NBN Wholesale Market Indicators Report for September 2025 issued by ACCC on 4 December 2025 and adjusted for volumes expected to be migrated to ABB 2. Based on 350,000 connections at the completion of migration. Underlying EBITDA excludes one-off costs associated with the transaction and the migration and establishment of the service and any contract incentive amortisation; eestimate is for the first 12 months post migration 3. ABB management estimate 21 Residential expands with AGL Telco Long-term partnership delivers material uplift in connections and EBITDA. ABB set to become third largest NBN service provider¹ Adds a combined ~210,000 broadband services and ~140,000 mobile connections, and ~46,000 voice services A long-term exclusive partnership to drive future growth – AGL will continue to promote AGL branded telco products EPS accretive and expected to deliver ~$235m in revenue and ~$21m in underlying EBITDA in the first 12 months post migration² Further net growth in connections and synergies expected to deliver significant upside to earnings and margin over time An upfront consideration of $115m will be paid in equity, with ~22m shares expected to be issued in June 2026; further $10m in ABB shares will be issued subject to meeting specified net growth hurdles 500k 5-year target³ for AGL Telco connections $21m Estimated underlying EBITDA post migration² Agreement signed FEB 2026 JUNE 2026 Acquisition expected to be completed; shares issued to AGL Migration commences Q1 FY27 Q2 FY27 Expected completion of migration For personal use only
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Strengthening BE&G segment 1. Subject to customary completion CPs associated with change of control under material contracts Deepening core capabilities to drive growth Nexgen Acquisition – Expanding SME Capability • Enhances SME value proposition with expanded national reach and stronger sales capability • Adds 6,000 SME NBN connections and broadened product set with Agentic AI solutions for small business • Expected to deliver $8.1m reported EBITDA in FY26, with $2.7m to ABB’s EBITDA for FY26 ownership period • Additional $2m - $4m annual cost synergies anticipated within two years, with upside from future sales not factored in • Founders remain incentivised to drive FY27 growth goals • Upfront consideration of $44.1m, with up to $5.9m earn-out subject to FY26-FY27 EBITDA targets • Valuation of 6.2x FY26 EBITDA (or 4.1x including full synergies) • Completion expected in March 2026 Divestment of Digital Sense – Refocusing on Core Telco • Sale of Digital Sense Hosting resets strategic focus on core telecommunication services • Binding sale agreement reached with 11:11 Systems, completion expected March 2026¹ • Resulted in a $14.8m goodwill impairment at 31 December 2025 For personal use only
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Greater value for the future 23 Our ambition We are changing the game and in doing so will be the telco people love for all our customers, people, partners, stakeholders and our investors. Our values Don’t be ordinary, be awesome Think BIG No bullsh*t Be good to people Have fun NBN market share2 >17% c1.5m connections New strategic ambitions1 Group revenue >$2.0bn + c68% Residential contribution <60% EBITDA margin >13.5% EPS growth³ >30% CAGR Our strategic priorities Develop systems aimed at scalable growth Leverage Aussie Fibre Grow across all segments and countries Evolve and enhance customer experience Constant focus on security to underpin trust 1. These strategic ambitions do not constitute guidance and carry risks and uncertainties, including from events beyond Aussie Broadband’s control. See the Important Notice & Disclaimer on slide 41 for further information. Growth rates are referenced from FY25. 2. Excluding satellite 3. Based on underlying NPATA in FY2523 Upgraded ambitions on strengthened market position and expanded scale >11% c1m connections Previous ambitions >$1.6bn + c60% <60% >12.5% >20% CAGR Previous ambitions >$1.6bn + c35% <60% For personal use only
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- 200 400 600 800 1,000 1,200 1,400 Jun-25 Dec-25 Fibre customers Connected customers Contracted to connect - 200 400 600 800 1,000 1,200 Jun-25 Dec-25 On-net buildings Connected Under construction 9.3% increase in customers² Aussie Fibre – strategic asset delivering returns 24 Capital allocation focused on increasing on-net utilisation 8.7% increase in on-net buildings¹ +88 +117 1. Includes on-net buildings connected and under construction 2. Includes customers connected and contracted to connect Leveraging existing Aussie Fibre network Continued annual savings in backhaul costs and operational leverage 1,103 on-net buildings and 1,376 fibre customers1,2 Connections per building at 1.25 – focus on winning more connections in on-net buildings to drive margin uplift Future fibre investment focused on on-net buildings only For personal use only
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Investing in Enablement Platforms 25 Multi-year program to scale the Aussie platform and strengthen segment capabilities A multi-year transformation, delivered through incremental value drops, improving simplicity, productivity and speed to market Enable faster product launch and innovation, supporting revenue growth Improve customer experience through simpler, more consistent servicing Strengthen wholesale capabilities to better support this strategic growth market Simplify platforms across business and operational support systems Align with global best practice and industry standards Objectives Embarking on a multi-year replatforming program, focused on strengthening the business and operational systems that underpin all segments Investment is driven by the need to scale for growth and support a segment-led operating model Rationale Investment OSS and BSS investments form a coordinated, multi-year program: Investment within existing future capex guidance, $55m – $60m 30% reduction in maintenance capex costs is expected over four years FY26 $5m FY27 $10m FY28 $10m FY29 $5m For personal use only
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Trading Update & Guidance 05 26 For personal use only
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131 138 7 100 110 120 130 140 150 160 170 180 FY25 Origin FY25 baseline Buddy divestment YoY growth FY26 $ million FY26 Guidance and Trading Update 27 Commentary 1. Origin direct contribution (after cost of sales and direct customer service costs) of $7m in FY25 2. Buddy divestment effective in Q3 FY26, resulting in a contribution of (3.0m) in FY26 (FY25 ($10.0m)) 3. Combined net contribution from Nexgen, Digital Sense and More/Tangerine forecast to be immaterial in FY26 Guidance upgraded to upper end of range, pathway to 17% -21% EBITDA growth Guidance range $162-167 million Trading Update • Net new connections growth of approximately 12,000 since 1 January 2026 • Underlying EBITDA guidance range for FY26 upgraded; previously $157m to $167m • Platform for material growth beyond FY26: • Premium market positioning and multiple growth levers • AGL Telco and AGL partnership to deliver material uplift in connections and future profitability • Strong delivery, sales pipeline and strengthened capability underpins continued success within BE&G segment • Proprietary platforms and solid delivery pipeline to drive Wholesale growth • Aussie Broadband expected to become the third largest NBN service provider in Q2 FY27 with more than 1.25m connections FY25 FY26 Guidance Underlying EBITDA $138m $162m to $167m Capex $77m $55m to $60m 27 +21% +17% (7) For personal use only
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Key takeaways 28 Growth in NBN connections and market share Double-digit revenue growth in all segments Focus on benefits from scale and efficiency initiatives Wholesale - indirect banking partnership through More & Tangerine; migrated connections contribute to earnings from FY27 Residential - partnership with AGL provides channel expansion to energy; AGL Telco acquisition to deliver material uplift to earnings from H2 FY27 Business, Enterprise & Government - product and channel expansion in SME market through Nexgen acquisition Strong financial results in line with expectations Growth accelerates across segments and sales channels Upgraded Look-to-28 strategic aspirations Business, Enterprise & Government – increasing contract size and growing sales pipeline Continued organic growth in connections benefiting from high-speed tier adoption Proprietary wholesale platforms enable scaled growth and positive opportunity pipeline Fully franked interim dividend of 2.4 cents declared Refinancing completed, underpinning a strong position to explore further M&A opportunities Capex guidance $55m to $60m Underlying EBITDA guidance upgraded to upper end of range Capital management For personal use only
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Thank You. For personal use only
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06 Appendices 30 For personal use only
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Quarterly broadband connections 31 1. Excludes Origin white label services; Jun-25 includes 17k of Symbio NBN services previously hosted by a third party; net growth in the chart is normalised for the 17k Symbio NBN services Broadband connections¹ QoQ change YoY change Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-25 Jun-25 Sep-25 Dec-25 Total % Residential 575,611 589,123 605,408 621,846 641,118 656,049 669,324 682,551 19,272 14,931 13,275 13,227 60,705 9.8% Business, Enterprise & Gov't 66,483 69,317 72,504 75,369 78,078 80,296 83,120 86,577 2,709 2,218 2,824 3,457 11,208 14.9% Wholesale 23,889 25,859 28,506 30,736 33,034 52,066 54,935 58,555 2,298 19,032 2,869 3,620 27,819 90.5% Total 665,983 684,299 706,418 727,951 752,230 788,411 807,379 827,683 24,279 36,181 18,968 20,304 99,732 13.7% 0 5,000 10,000 15,000 20,000 25,000 30,000 400,000 500,000 600,000 700,000 800,000 900,000 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Residential Business, Enterprise & Gov't Wholesale Normalised net growth For personal use only
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Profit & Loss 1H FY25 1H FY26 Change $m $m Revenue 588.5 637.8 8.4% Network and hardware expenses (370.9) (406.1) (9.5%) Gross Profit 217.6 231.7 6.5% Gross Margin % 37.0% 36.3% (0.7 ppts) Employee expenses (102.8) (106.0) (3.1%) Marketing expenses (26.7) (28.2) (5.6%) Administration and other expenses (22.3) (22.9) (2.4%) EBITDA before non-recurring items 65.8 74.7 13.5% Non-recurring items (3.6) (16.9) (364.4%) EBITDA 62.1 57.8 (7.0%) Depreciation and amortisation (23.8) (24.5) (3.3%) EBIT 38.4 33.2 (13.5%) Net interest (8.1) (6.8) 16.1% Income tax (8.8) (12.4) (40.1%) NPATA 21.5 14.1 (34.5%) Amortisation - acquired intangibles (13.4) (12.8) 4.1% Income tax 4.1 3.9 (6.0%) Profit after tax 12.2 5.1 (58.3%) Basic earnings per share (cents) 4.1 1.7 (2.4) 32 For personal use only
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Balance Sheet Dec-24 Jun-25 Dec-25 $m $m $m Cash and cash equivalents 135.4 130.3 114.8 Trade and other receivables 87.6 99.3 98.9 Plant and equipment 150.6 148.3 145.4 Right-of-use assets 56.2 50.9 43.9 Intangibles 610.0 610.8 580.2 Assets classified as held for sale - - 22.1 Other assets 44.6 42.6 76.7 Total assets 1,084.4 1,082.2 1,082.1 Trade and other payables 138.9 144.6 142.2 Contract liabilities 50.9 55.0 57.8 Lease liabilities 58.9 50.4 45.3 Borrowings 177.7 208.1 208.6 Deferred tax liability 43.4 35.6 28.0 Liabilities classified as held for sale - - 5.6 Other liabilities 39.0 43.2 24.1 Total liabilities 508.8 536.8 511.6 Net Assets 575.6 545.3 570.5 33 For personal use only
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Cashflow H1 FY25 H1 FY26 Change $m $m Receipts from customers 643.5 702.8 9.2% Payments to suppliers and employees (594.2) (645.7) (8.7%) Operating cash flows before interest & tax 49.3 57.1 15.9% Net Interest Payments (8.1) (6.4) 21.4% Tax Payments (24.9) (21.3) 14.3% Operating cash flows 16.3 29.4 80.5% Payments for PPE (32.6) (16.9) 48.3% Payments for intangibles (15.4) (10.2) 33.9% Proceeds for financial assets, net of costs 95.6 (5.1) NA Payment for purchase of business, and other related costs (0.5) - NA Proceeds from disposal of business 0.3 - NA Other 0.0 0.0 73.3% Investing cash flows 47.4 (32.2) NA (Payments for)/Proceeds from issue of shares (net of costs) 0.1 (0.0) NA Repayment of borrowings (120.0) - NA Repayment of lease liabilities (10.6) (5.8) 45.5% Payment of dividends (11.8) (7.0) 40.6% Other (0.0) (0.0) 73.7% Financing cash flows (142.3) (12.8) 91.0% Net decrease in cash and equivalents (78.6) (15.6) 80.2% 34 For personal use only
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Maximise shareholder value Maintain financial flexibility Support business growth 1. Committed to balance sheet settings consistent with net leverage ratio of 1.75x – 2.50x 2. Ongoing business as usual Capex i. IRR >15% and payback between 3 & 5years 3. Invest in growth - both organic and M&A 4. Provide a return to shareholders through dividends i. Payout range up to 40% of annual Net Profit After Tax 5. Provide any excess returns to shareholders PrinciplesObjectives Capital Management Approach 35 For personal use only
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Revised historical financials Background On 1 July 2025, Aussie Broadband realigned its structure into a segment-led business to drive better customer and financial outcomes going forward. There are now three key segments, each overseen by a Group Executive: • Residential • Business, Enterprise & Government, and • Wholesale Historical financial information on pro forma basis as per the new structure has been provided for better visibility and to enable like-for-like comparisons. To reflect the new structure, the following adjustments have been made to the historical financials by segment: Revised Financials by segment Residential (see page 37) • Segment reallocation includes an adjustment related to voice terminating access revenue from Residential to Wholesale Business, Enterprise & Government (BE&G) (see page 38) • Business and Enterprise & Government segments combined • Segment reallocation includes: • An adjustment related to voice terminating access revenue from BE&G to Wholesale • Reallocation of Symbio’s Enterprise & Government customers into the segment • Pro forma adjustment relates to Symbio’s Enterprise & Government customers for the first 8 months of FY24, prior to being acquired by Aussie Broadband Wholesale (see page 39) • Wholesale and Symbio segments combined • Segment reallocation includes: • An adjustment related to voice terminating access revenue from Residential and BE&G segments • Reallocation of Symbio’s Enterprise & Government customers into BE&G • Pro forma adjustment relates to Symbio for the first 8 months of FY24, prior to being acquired by Aussie Broadband For personal use only
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Residential H1 FY24 H2 FY24 FY24 H1 FY25 H2 FY25 Reported revenue 283.9 301.2 585.1 327.3 349.5 Segment reallocation (0.3) (0.3) (0.6) (0.2) 0.0 Revised revenue 283.6 300.9 584.5 327.1 349.5 Reported COGS (198.1) (201.6) (399.7) (224.9) (238.8) Segment reallocation 0.0 0.0 0.0 0.0 0.0 Revised COGS (198.1) (201.6) (399.7) (224.9) (238.8) Reported Gross Margin 85.8 99.6 185.4 102.4 110.7 Segment reallocation (0.3) (0.3) (0.6) (0.2) 0.0 Revised Gross Margin 85.5 99.3 184.8 102.2 110.7 Reported gross margin % 30.2% 33.1% 31.7% 31.3% 31.7% Revised gross margin % 30.2% 33.0% 31.6% 31.2% 31.7% Revised historical financials – Residential For personal use only
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Revised historical financials – BE&G Business, Enterprise & Government (BE&G) H1 FY24 H2 FY24 FY24 H1 FY25 H2 FY25 Reported revenue - Business 48.0 48.9 97.0 54.0 54.0 Reported revenue - E&G 41.7 46.3 88.0 47.2 50.6 Reported revenue - BE&G 89.8 95.3 185.0 101.3 104.6 Segment reallocation (2.5) 2.7 0.2 3.0 2.8 Pro forma adjustment 8.4 2.5 10.9 0.0 0.0 Revised revenue - BE&G 95.7 100.4 196.1 104.3 107.4 Reported COGS - Business (26.4) (26.6) (52.9) (30.9) (31.9) Reported COGS - E&G (19.7) (22.7) (42.5) (24.3) (23.1) Reported COGS - BE&G (46.1) (49.3) (95.4) (55.2) (55.0) Segment reallocation 0.0 (2.5) (2.5) (1.7) (1.5) Pro forma adjustment (3.4) (1.1) (4.5) 0.0 0.0 Revised COGS - BE&G (49.5) (52.9) (102.4) (56.8) (56.5) Reported Gross margin - BE&G 43.6 46.0 89.6 46.1 49.6 Segment reallocation (2.5) 0.2 (2.3) 1.4 1.3 Pro forma adjustment 5.0 1.4 6.4 0.0 0.0 Revised Gross Margin - BE&G 46.2 47.5 93.7 47.4 50.9 Reported gross margin % 48.6% 48.2% 48.4% 45.5% 47.4% Revised gross margin % 48.3% 47.3% 47.8% 45.5% 47.4% For personal use only
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Revised historical financials - Wholesale Wholesale H1 FY24 H2 FY24 FY24 H1 FY25 H2 FY25 FY25 Reported revenue - Wholesale* 24.9 26.8 51.7 29.7 33.9 63.6 Reported revenue - Symbio 0.0 69.9 69.9 103.8 110.7 214.5 Reported revenue - Wholesale 24.9 96.7 121.6 133.5 144.5 278.1 Segment reallocation 2.7 (2.4) 0.4 (2.8) (2.8) (5.6) Pro forma adjustment 98.2 31.9 130.1 0.0 0.0 0.0 Revised revenue -Wholesale 125.8 126.2 252.1 130.7 141.7 272.5 Reported COGS - Wholesale* (17.6) (20.0) (37.6) (19.6) (24.0) (43.6) Reported COGS - Symbio 0.0 (37.5) (37.5) (54.2) (63.4) (117.6) Reported COGS - Wholesale (17.6) (57.5) (75.1) (73.8) (87.4) (161.2) Segment reallocation 0.0 2.5 2.5 1.7 1.5 3.2 Pro forma adjustment (54.2) (17.4) (71.6) 0.0 0.0 0.0 Revised COGS - Wholesale (71.8) (72.4) (144.2) (72.1) (85.9) (158.0) Reported Gross Margin - Wholesale* 7.3 39.3 46.5 59.8 57.1 116.9 Segment reallocation 2.7 0.1 2.9 (1.1) (1.3) (2.4) Pro forma adjustment 44.0 14.4 58.5 0.0 0.0 0.0 Revised Gross Margin - Wholesale 54.1 53.8 107.9 58.6 55.9 114.5 Reported gross margin % 29.3% 40.6% 38.3% 44.8% 39.5% 42.0% Revised gross margin % 43.0% 42.6% 42.8% 44.8% 39.4% 42.0% * Reported Wholesale excluding Origin For personal use only
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Revised historical financials – Aussie Broadband Total ABB H1 FY24 H2 FY24 FY24 H1 FY25 H2 FY25 FY25 Reported revenue* 398.5 493.2 891.7 562.1 598.6 1160.7 Segment reallocation 0.0 0.0 0.0 0.0 0.0 0.0 Pro forma 106.7 34.3 141.0 0.0 0.0 0.0 Revised revenue 505.2 527.5 1032.7 562.1 598.6 1160.7 Reported COGS* (261.8) (308.4) (570.1) (353.9) (381.2) (735.1) Segment reallocation 0.0 0.0 0.0 0.0 0.0 0.0 Pro forma adjustment (57.6) (18.5) (76.1) 0.0 0.0 0.0 Revised COGS (319.4) (326.9) (646.2) (353.9) (381.2) (735.1) Reported Gross Margin* 136.7 184.8 321.6 208.2 217.5 425.7 Segment reallocation 0.0 0.0 0.0 0.0 0.0 0.0 Pro forma adjustment 49.1 15.8 64.9 0.0 0.0 0.0 Revised Gross Margin 185.8 200.6 386.4 208.2 217.5 425.7 Reported gross margin % 34.3% 37.5% 36.1% 37.0% 36.3% 36.7% Revised gross margin % 36.8% 38.0% 37.4% 37.0% 36.3% 36.7% * Reported ABB excluding Origin For personal use only
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41 Important Notice & Disclaimer The information in this presentation is intended to be general background information on Aussie Broadband Limited (ACN 132 090 192) (Company) and its activities and operations. This presentation is for information purposes only and it is not financial product or investment advice. The information and presentation is in summary form and is not intended to be comprehensive or provide all information required by investors to make an informed decision on any investment in the Company and is therefore not necessarily complete. It is intended to be read by a professional analyst audience and is not intended to be relied upon as advice to investors or potential investors, who should consider seeking independent professional advice depending on their specific investment objectives, financial situation or particular needs. In preparing this presentation, the Company did not take into account the investment objectives, financial situation, or particular needs of any particular reader. Readers should obtain their own investment, legal, and tax advice before taking any action on any information dealt with in the presentation. The views expressed in this publication may contain information derived from publicly available sources that have not been independently verified. No representation or warranty, express or implied, is made or given by or on behalf of the Company, any of its directors, or any other person about the accuracy, completeness, reliability or fairness of the information or opinions contained in this presentation. No responsibility or liability is accepted by any of them for that information or those opinions or for any errors, omissions, misstatements (negligent or otherwise), or for any communication, written or otherwise, contained or referred to in this presentation. Neither the Company nor any of its directors, officers, employees, advisors, associated persons, or subsidiaries are liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying upon any statement in the presentation or any document supplied with this presentation, or by any future communications in connection with those documents and all of those losses and damages are expressly disclaimed. All amounts are in Australian Dollars ($ or AUD) unless otherwise indicated. A number of figures, amounts, percentages, estimates, calculations of value, and fractions in this presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation. Investors should also be aware that certain financial data included in this presentation including EBITDA and measures described as ‘pro forma’, are ‘non-IFRS financial information’ under ASIC Regulatory Guide 230 (Disclosing non-IFRS financial information). The non-IFRS financial information financial measures do not have a standardised meaning prescribed by Australian International Financial Reporting Standards (AIFRS) and, therefore, may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with AIFRS. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS financial measures included in this presentation. This presentation may contain forward-looking statements regarding the Company’s intent, belief, or current expectations with respect to its business and operations, market conditions, results of operations, and financial conditions. Words such as ‘will’, ‘may’, ‘expect’, ‘indicative’, ‘plan’, ‘intend’, ‘seek’, ‘would’, ‘should’, ‘risk’, ‘forecast’, ‘estimate’, ‘aim’, ‘anticipate’, ‘target’, believe’, ‘guidance’ and similar expressions indicate forward-looking statements that reflect the Company’s current views with respect to future events and are subject to change and involve risks, uncertainties and assumptions that could cause actual outcomes to differ materially from the outcomes anticipated. Accordingly, readers should not place undue reliance on forward-looking statements. The Company is under no obligation to update any of the forward-looking statements contained within this presentation, subject to applicable disclosure requirements. To the extent that any forward- looking statements are made, verbally or in writing, by members of the Company’s management or Board in connection with this presentation, such statements are also subject to the same limitations, uncertainties, assumptions and disclaimers as set out in this presentation. In particular, the Company’s growth ambitions and projections to FY28 are not guidance and there are greater risks and uncertainties in connection with these growth ambitions and projections, including from events beyond the Company’s control. Any opinions expressed reflect the Company’s position at the date of this presentation and are subject to change. Subject to law, the Company assumes no obligation to update, review or revise any information contained in this presentation, whether as a result of new information, future events, or otherwise. Past performance cannot be relied upon as a guide to future performance. References to Aussie Broadband or the Company in this presentation are to the Aussie Broadband group including all subsidiaries, unless stated elsewhere. For personal use only