Slides
Page 1
FY 2026 PERFORMANCE Authorised by Andrew Bennett Group Chief Executive Officer 26 August 2026
Page 2
FY 2026 Financial Highlights COG FY 2026 – Positive Results for Shareholders 1. Underlying revenue excludes interest income (FY26 $3.6m, FY25 $2.6m) . 2. Underlying basis attributable to shareholders. Refer to page 25 for a reconciliation between the Statutory and Underlying EBITDA . 3. Prior comparative information has been adjusted to ensure comparability with current year (refer to page 26 for details). 2 EPSA 15.63cps + 27% on pcp 2,3 EBITDA TO SHAREHOLDERS $51.5m +28% on pcp 2,3 FINAL DIVIDEND 3.5cps +17% on pcp 2,3 REVENUE $399.8m + 9% on pcp 1,3
Page 3
FY 2026 Financial Highlights 3 Salary Packaging Segment • +66% Lease Settlement & +51% Revenue Growth on PCP, driven by organic momentum and a strategic acquisition. • Novated lease customers doubled +98% on PCP . • Total salary packaging customers grew to 68,510, +31% on PCP . • Net Assets Financed reached $0.5bn, +62% on PCP Broking & Aggregation Segment • +5% Volume Growth & +3% Revenue Growthon PCP driven by organic momentum and a strategic acquisition. • A sector comprising several key operations. Peer to peer lending 19%, Broker services 13%, Aggregation 11% and Broking 57%1. • Continued resilience in commercial equipment demand has generated another solid result. • Net Assets Financed reached $8.5bn, +5% on PCP . 1. Share of the Broking & Aggregation segment Underlying EBITDA (100%) for the year ended 30 June 2026 . ▪ Group Net Assets Financed through Salary Packaging + Broking & Aggregation +8% on PCP Driven by Salary Packaging + Broking & Aggregation ▪ Underlying Group revenue +9% on PCP ▪ Underlying Group EBITDA to shareholders +28% on PCP
Page 4
Strong UnderlyingEBITDA to Shareholders FY 2026 Financial Highlights 1.Prior comparative information has been adjusted to ensure comparability with current year(refer to page 13 for for more detail). 4 +28% vs adjusted PCP Segments FY26 ($m) FY25 1 ($m) PCP Change Salary Packaging 31.0 16.5 +88% Broking & Aggregation 24.5 24.5 0% Lending 1.2 1.9 -37% Other (5.2) (2.6) -100% Total 51.5 40.3 +28%
Page 5
5 FY 2026 Financial Highlights Underlying EBITDA to Shareholders Continues to Grow 1. To ensure comparability with current year presentation, historical underlying EBITDA to shareholders has been adjusted to ( i) exclude share-based payment expense associated with the long-term incentive share issuance and (ii) include Interest income earned on cash available for lending in the Lending segment which is now presented in the Revenue line (above the EBITDA line) and was previously presented in the Net interest income / (expense) line. Refer to page 13 for details of the FY25 comparative information. 2. Calculated as the Compound Annual Growth Rate (CAGR) for the last 3 financial years - - - - - - 30.8 36.1 35.3 38.7 40.3 51.5 FY21 FY22 FY23 FY24 FY25 FY26 In $’m + 28 % on PCP + 13% 3Ys CAGR 2 1 1 1 1 1 60% 48% 2% -10% 100% 100% 41% 61% 5% -6% 100% 60% of Group EBITDAfrom Salary Packaging
Page 6
FY 2026 Financial Highlights Strong EPSA and Dividend Growth 1. Dividends are fully franked 2. Total dividends divided by NPATA to shareholders. 3. Earnings per share adjusted for the amortisation of acquired intangible and calculated using the Weighted Average Number of Outstanding Shares for each FY 4. Prior comparative information has been adjusted to ensure comparability with current year (refer to page 26 for details). Payout ratio of 45.5%2 (FY25: 49.2%2,4) Final Dividend declared of 3.5 cps1 (FY25: 3.0 cps1) Cents per share 8.30 6 7.22 8.40 8.40 6.00 7.00 3,4
Page 7
Executing with Excellence Future Growth 7 COG is driving for growth. FY 27 EBITDA to shareholder growth is targeted to be 10% or better. Continued market share capture Strong volume growth, led by EV uptake further supported by government incentives Execution of an active M&A pipeline of accretive bolt-on opportunities Technology and AI continue to evolve providing opportunities. At a corporate debt to EBITDA ratio of 1:1, COG would have circa $40m of debt capacity available. Unrestricted corporate cash of $22.9m is reported in the Other segment. Refer to page 33 for details. Salary Packaging Capital Management Broking & Aggregation Continued investment in the aggregation platform to reduce client churn and deliver scale benefits Growth in Equity-One through geographic spread and new fund development Infrastructure
Page 8
Summary Financials 8
Page 9
Executing with Excellence FinancialResults – an Outstanding Y ear 1. Underlying basis – refer to page 25 for a reconciliation between the Statutory and Underlying EBITDA. Prior comparative information has been adjusted to ensure comparability with current year (refer to page 26 for details). 2. Underlying revenue excludes interest income (FY26 $3.6m, FY25 $2.6m). 3. NPATA to shareholders is NPAT to shareholders adjusted for amortisation of identified intangibles on acquisition of controlled entities (FY26 $6.8m, FY25 $5.8m, after tax). Revenue 2 399.8 365.2 9% EBITDA 69.3 60.7 14% Net interest income / (expense) 0.4 (1.3) 131% Depreciation (5.2) (4.8) (8%) Amortisation (14.0) (13.0) (8%) NPBT 50.5 41.6 21% Tax (15.1) (11.9) (27%) NPAT 35.4 29.7 19% Minority interests (9.5) (10.9) 13% NPAT to shareholders 25.9 18.8 38% NPBT to shareholders 37.0 26.0 42% EBITDA to shareholders 51.5 40.3 28% NPATA to shareholders 3 32.7 24.6 33% EPSA to shareholders (cps) 15.63 12.32 27% FY261 FY251 PCP Change Revenue growth of $34.6m reflects organic growth from the Salary Packaging segment of $15.3m and Broking & Aggregation of $5.4m as well as contributions from acquisitions of $17.6m, partially offset by lower revenue from both Lending and Other segments of $3.7m. EBITDA margin1 improved to 17.3% (FY25:16.6%1), supported by strong momentum in the Salary Packaging segment and the continued resilience performance across the wider group, partially offset by strategic investment in people, systems and future growth plans and the absence of prior-year contributions from divested non-core investments EPY and CAF . Depreciation & amortisation includes $12.7m for amortisation of identified intangibles on acquisition of controlled entities (FY25: $11.8m) and $3.0m depreciation of right-of-use assets (FY25: $2.6m). EBITDA to shareholders increased, driven by a $14.5m uplift from the Salary Packaging segment, partially offset by decreases of $0.7m in Lending and $2.6m in the Other (EPY and CAF benefit in FY25), with a flat year-on-year contribution from the Broking & Aggregation segment. Effective tax rate of 30% (FY25: 29%) based on underlying NPBT. 9 (In $’m)
Page 10
Executing with Excellence +22.1% +26.1% -12.9% 10 UnderlyingEBITDA Growth to Shareholders (In $’m) 1 1. Prior comparative information has been adjusted to ensure comparability with current year (refer to page13 for details).
Page 11
Executing with Excellence Good Cash Generation Continues 1. Non-controlling interests. 11 Members and NCI 1 Members (in $’m) FY26 FY25 Variance FY26 FY25 Variance Underlying EBITDA from core operations 69.3 60.7 8.6 51.5 40.3 11.2 Adjustments for non-cash items related to: Investment in associates - (1.6) 1.6 - (1.6) 1.6 Lending (includes provisioning) (0.5) (0.6) 0.1 (0.5) (0.6) 0.1 Leases (rent paid) (3.0) (3.0) - (2.0) (2.0) - Contract assets (0.7) (0.5) (0.2) (0.3) (0.2) (0.1) Employment related provision movements 1.6 1.2 0.4 1.1 0.7 0.4 Underlying Cash EBITDA 66.7 56.2 10.5 49.8 36.6 13.2 Interest income 3.6 2.6 1.0 3.1 2.0 1.1 Interest expense (2.6) (3.3) 0.7 (2.4) (3.0) 0.6 Income tax (16.1) (15.2) (0.9) (11.9) (9.3) (2.6) Underlying Cash Net Profit After Tax 51.6 40.3 11.3 38.6 26.3 12.3
Page 12
Segment performance 12
Page 13
Segment change 4 The Broking & Aggregation segment (formerly known as Finance Broking & Aggregation) now includes Centrepoint Finance, AAA Finance, Westlawn Insurance Brokers and Equity-One which were previously reported in Lending segment (formerly known as Asset Management & Lending). Prior year for both segments have been restated where relevant to ensure comparability. +28% vs adjusted pcp UnderlyingEBITDA to Shareholders Financial Highlights (In $’m) 1. Underlying EBITDA to shareholders has been adjusted to exclude share -based payment expense associated with the long-term incentive share issuance (refer to page 25 for a reconciliation between the Statutory and Underlying EBITDA). 2. Interest income earned on cash available for lending in the Lending segment is now presented in the Revenue line (above the E BITDA line), previously presented in the Net interest income / (expense) line. Prior comparative information has been revised accordingly. 3. The Salary Packaging segment was formerly known as Novated Leasing. 13 (In $m) FY26 FY25 PCP change Segments EBITDA to shareholders EBITDA to shareholders (reported) Long-term Incentive expenses1 Interest income2 Segment change4 Elimination of intercompany transactions EBITDA to shareholders (adjusted) % Salary Packaging 3 31.0 16.5 - - - 16.5 88% Broking & Aggregation 24.5 17.6 0.2 - 6.7 24.5 0% Lending 1.2 7.5 - 1.2 (6.7) (0.1) 1.9 -37% Other (5.2) (3.2) 0.5 - - 0.1 (2.6) -100% Total 51.5 38.4 0.7 1.2 - - 40.3 28%
Page 14
Salary Packaging Improved Profit Margin Supported by Ongoing Volume Growth 1. Underlying basis before tax – excluding acquisition-related expenses (FY26 $0.3m, FY25 $nil) and redundancy costs (FY26 $0.1m, FY25 $nil). 2. Underlying revenue excludes interest income (FY26 $2.6m, FY25 $1.5m). Revenue growth of $29.9m includes $15.3m in organic growth from existing businesses which continues to be further accelerated by the FBT incentive for electric vehicles and $14.6m contribution from an acquisition. EBITDA margin expanded to 38.7% (FY25: 37.6%) driven by robust volume and customer growth across both our existing businesses and recent acquisition, while continuing to fund critical workforce and system investments designed to capture future market share and improve margin. Depreciation and amortisation includes $4.7m amortisation of identified intangibles on acquisition of controlled entities (FY25: $2.4m) and $1.0m depreciation of right-of-use assets (FY25: $0.6m). EBITDA to shareholders includes $9.2m from the new business acquisition and increased in equity holdings (FY25: $0.2m) and a strong organic growth of $5.3m, up 32% on pcp. FY26 1 FY25 1, 2 Pcp Change Revenue 88.7 58.8 51% EBITDA 34.3 22.1 55% Net Interest income 0.6 0.1 500% Depreciation (1.5) (1.2) (25%) Amortisation (excl. acquired intangibles) (0.6) (0.4) (50%) NPBT (before amortisation of acquired intangibles) 32.8 20.6 59% Amortisation of acquired intangibles (4.7) (2.4) (96%) NPBT 28.1 18.2 54% EBITDA to shareholders 31.0 16.5 88% 14 (In $’m)
Page 15
Salary Packaging Rapid Growth Continues 15 +31% on pcp +98% on pcp * * The previously disclosed Salary Packaging Customers and Novated Lease Customersas at 31 December 2025 were understated; the graph above reflects the corrected figure. +66% on pcp * *
Page 16
Broking & Aggregation Strong ActivityDriven by Organic Growth and Strategic Acquisition 1. Underlying basis before tax - excluding acquisition-related expenses (FY26 $0.1m, FY25 $nil), redundancy costs (FY26 $0.1m, FY25 $nil), profit on sales of assets (FY26 $0.2m, FY25 $nil), and LTI expenses (FY26 $0.2m, FY25 $0.2m). 2. The Broking & Aggregation segment now includes Centrepoint Finance, AAA Finance, Westlawn Insurance Brokers and Equity -One, which were previously reported in the Lending segment. To conform with the current year presentation, prior comparative information has been adjusted to ( i) align with the current year segment structure, (ii) exclude LTI expenses, and (iii) reflect reclassifications between revenue and other profit and loss line items (see pages 13 and 26) . 3. Underlying revenue excludes interest income (FY26 $0.6m, FY25 $0.7m). Revenue increase of $8.4m is reflective of $5.3m in organic growth from higher volumes (despite compressed brokerage and volume-bonus incentive rates from financiers), $3.0m contribution from an acquisition in late FY25 and $0.1m contribution from recent acquisition in late FY26. EBITDA margin contracted to 14.1% (FY25: 14.7% 2 ) due to continued investment in people and process improvement across the broking & aggregation entities, paving the way for future growth. Depreciation and amortisation includes $8.0m amortisation of identified intangibles on acquisitions of controlled entities (FY25: $7.4m) and $1.7m depreciation of right-of-use assets (FY25: $1.7m). EBITDA to shareholders includes $1.3m from new business acquisition and increased equity holdings in controlled entities, net of disposals (FY25: $0.7m). FY26 1, 2 FY25 1, 2 Pcp Change Revenue 3 273.7 265.3 3% EBITDA 38.7 39.0 (1%) Net Interest expense (0.5) (1.4) 64% Depreciation (3.0) (2.9) (3%) Amortisation (excl. acquired intangibles) (0.6) (0.6) 0% NPBT (before amortisation of acquired intangibles) 34.6 34.1 1% Amortisation of acquired intangibles (8.0) (7.4) (8%) NPBT 26.6 26.7 (0.4%) EBITDA to shareholders 24.5 24.5 0% 16 (In $’m)
Page 17
Broking & Aggregation Solid Businesses and Strong Cashflow 17 ❑ COG Aggregation (incl NFC & UFS) ❑ Equity-One (Peer-to-Peer Lending) ❑ Mildura Finance (Broking Services) Finance ❑ QPF Group ❑ Linx Group ❑ AAA Finance ❑ Centrepoint Finance ❑ Insurance Broking ▪ $8.5bn of Net Amount Financed (+5% on pcp) ▪ Strong national market share (24%)1 a scaled player ▪ Growing Peer-to-peer Lending Funds Under Management growth (+5% on pcp) ▪ +10% EBITDA growth on FY25 ▪ Very high return on capital invested ▪ Strong cash flow + 30% franking credits 43% of B&A EBITDA2 49% of B&A EBITDA2 8% of B&A EBITDA2 Insurance ▪ Very high return on capital invested ▪ Strong cash flow ▪ Growth opportunity BROKINGFINANCIAL INTERMEDIARIES 1. Estimated market share derived from the latest available ABS reported Australia Private New Capital Expenditure Report, assuming circa 39% of that value is originated through brokers, calculated as at 30 June 2026. 2. Share of the Broking & Aggregation segment Underlying EBITDA (100%) for the year ended 30 June 2026.
Page 18
Lending A Steady State Outcome 1. Underlying basis before tax – excluding acquisition-related expenses (FY26 $1.2m, FY25 $nil) 2. Underlying revenue excludes interest income (FY26 $0.1m, FY25 $nil). 3. The Lending segment now excludes Centrepoint Finance, AAA Finance, Westlawn Insurance Brokers and Equity -One, which are now reported in the Broking & Aggregation segment. To conform with the current year presentation, prior comparative information has been adjusted to ( i) align with the current year segment structure (see page 13), and (ii) reflect reclassifications between revenue and other profit and loss line items (see page 26) . Revenue contraction of $3.9m reflects lower contributions from Westlawn of $3.2m primarily due to reduced lending activity and TL Commercial Finance of $0.7m due to the book being in run-off. EBITDA margin declined to 3.9% (FY25: 5.2%3), primarily reflecting lower economies of scale on reduced activity coupled with increased expected credit loss provision (ECL). Depreciation and amortisation includes $nil amortisation of identified intangibles on acquisitions (FY25: $2.1m) and $0.2m depreciation of right-of-use assets (FY25: $0.2m). FY261 FY251,3 Pcp Change Revenue2 38.1 42.0 -9% EBITDA 1.5 2.2 -32% Net Interest - 0.1 -100% Depreciation (0.5) (0.5) 0% Amortisation (excl. acquired intangibles) (0.1) (0.1) 0% NPBT (before amortisation of acquired intangibles) 0.9 1.7 -47% Amortisation of acquired intangibles - (2.1) 100% NPBT 0.9 (0.4) 325% EBITDA to shareholders 1.2 1.9 -37% EBITDA to shareholders includes $0.3m contribution from TL Commercial Finance (FY25: $0.5m). 18 (In $’m)
Page 19
Lending Strong Managed Investment Scheme Growth Lending Book New lease and loans written in the FY26 totalled $115.1m (FY25: $106.9m). TL Commercial, active lease and loan receivables of now $nil as at 30 June 2026 (FY25: 0.3m). The lending book continues to perform strongly, ECL provisioning rate has increased circa 0.7% compared withJune 2026. Funding The unsecured notes program operated by Westlawn Finance Limited continues to provide a reliable source of funding, representing a lesser share of total assets under management 43% (FY25: 51%). Westlawn Managed Investment Scheme has grown strongly over the year, with a current balance of $124.8m (FY25: $61.0m). 19 Assets under management (in’ $m) 30 Jun 2026 30 Jun 2025 Westlawn Managed Investment Scheme 124.8 61.0 Westlawn Unsecured Notes 173.7 208.5 Westlawn Warehouse Trust 102.6 135.5 Total 401.1 405.0
Page 20
Other Efficiency Maintained, Non-core Investments Have Been Divested 1. Underlying basis before tax – excluding profit on disposal of assets (FY26 $nil, FY25 $3.6m), Long -term Incentive expenses (FY26 $0.2m, FY25 $0.5m), expenses related to share options issuance to non-executive directors (FY26 $nil, FY25 $2.4m) and COG’s 21.45% and 19.89% proportionate share of EPY and C AF’s (i) amortisation of acquired intangibles (FY26 $nil, FY25 $0.7m), (ii) transaction costs (FY26 $nil, FY25 $0.2m), and (iii) the release of contingent consideration for the acquisition of FAM by CAF (FY26 $nil, FY25 $0.2m). 2. To conform with the current year presentation, prior comparative information has been adjusted to reflect reclassifications b etween revenue and other profit and loss line items (see pages 13 and 26). 3. Underlying revenue excludes interest income (FY26 $0.3m, FY25 $0.4m). This Segment captures COG head-office activities as well as the elimination of intercompany transactions. In FY25, results included contributions from equity- accounted non-core investments in EPY and CAF which were fully disposed in May 2025. EBITDA to shareholders declined by $2.6m, primarily due to nil contributions from EPY and CAF in current year (FY25: $3.0m). FY26 1 FY25 1, 2 Pcp Change Revenue 3 (0.7) (0.9) 22% EBITDA (5.2) (2.6) -100% Net Interest income / (expense) 0.3 (0.1) 400% Depreciation (0.2) (0.2) 0% Amortisation (excl. acquired intangibles) - - n/a Net (Loss)/PBT (before amortisation of acquired intangibles) (5.1) (2.9) -76% Amortisation of acquired intangibles - - n/a Net (Loss)/PBT (5.1) (2.9) -76% (Loss)/EBITDA to shareholders (5.2) (2.6) -100% 20 (In $’m) Revenue primarily reflects elimination of intercompany transactions between segments.
Page 21
Executing with Excellence Future Growth 21 COG is driving for growth. FY 27 EBITDA to shareholder growth is targeted to be 10% or better. Continued market share capture Strong volume growth, led by EV uptake further supported by government incentives Execution of an active M&A pipeline of accretive bolt-on opportunities Technology and AI continue to evolve providing opportunities. At a corporate debt to EBITDA ratio of 1:1, COG would have circa $40m of debt capacity available. Unrestricted corporate cash of $22.9m is reported in the Other segment. Refer to page 33 for details. Salary Packaging Capital Management Broking & Aggregation Continued investment in the aggregation platform to reduce client churn and deliver scale benefits Growth in Equity-One through geographic spread and new fund development Infrastructure
Page 22
COG Financial Services Limited ('COG’) has not considered the financial position or needs of the recipient in providing this presentation ('Presentation'). Persons needing advice should consult their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial or legal adviser. This Presentation includes certain 'forward-looking statements' which are not historical facts but rather are based on COG’s current expectations, estimates and projections about the industry in which COG operates, and beliefs and assumptions regarding COG’s future performance. Words such as ‘anticipates’, 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees, representations or warranties of future performance and are subject to known and unknown risks, uncertainties and other factors (some of which are beyond the control of COG), are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. COG cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of COG only at the date of this Presentation. The forward-looking statements made in this Presentation relate only to events and circumstances as of the date on which the statements are made. COG will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this Presentation except as required by law or by any appropriate regulatory authority. Investors should also note that COG’s past performance, including past share price performance, cannot be relied upon as an indicator of (and provides no guidance as to) COG’s future performance including COG’s future financial position or share price performance. No party other than COG has authorised or caused the issue of this Presentation, or takes any responsibility for, or makes, any statements, representations or undertakings in this Presentation. This Presentation should be read in conjunction with COG’s Appendix 4E and COG’s 30 June 2026 Annual Financial Report, and all other ASX announcements by COG. Disclaimer 22
Page 23
Appendices 23
Page 24
Appendices Statutory Income Statement 1. Statutory revenue includes interest income (FY26 $3.6m, FY25 $2.6m). Prior comparative information has been adjusted to confo rm with reclassifications between Revenue and other profit and loss line items affecting the current year presentation. Depreciation & amortisation includes $12.7m for amortisation of identified intangibles on acquisition of controlled entities (FY25: $11.8m) and $3.0m depreciation of right-of-use assets (FY25: $2.6m). 24 (In $’m) FY26 FY25 Pcp Change Revenue 1 403.4 367.7 10% Underlying EBITDA from core operations 69.3 60.7 14% Acquisition-related expenses (1.6) - n/a Redundancy and restructuring costs (0.2) - n/a Profit on disposal of assets 0.2 3.6 -94% Adjustments related to associates - (0.7) 100% Share options issuance to non-executive directors - (2.4) 100% Long-term incentive expenses (0.4) (0.7) 43% Statutory EBITDA from core operations 67.3 60.5 11% Net interest income / (expense) 0.4 (1.4) 129% Depreciation & amortisation (19.2) (17.8) -8% NPBT 48.5 41.3 17% Tax (15.1) (11.6) -30% NPAT 33.4 29.7 12% Profit after tax attributable to: Non-controlling interests (9.1) (10.9) 16% Members of COG 24.2 18.8 29% Long-term incentive expenses reflects the share-based payments expenses related to shares issued to employees and management under loan-backed employee share scheme. Acquisition-related expenses includes a $1.2m earn- out adjustment for the deferred consideration associated with AAA Finance acquisition (May 2025).
Page 25
Appendices Reconciliation of Statutory EBITDA to Underlying EBITDA 1. Non-controlling interests. 2. Adjustment related to associates reflects COG’s 21.45% and 19.89% proportionate share of EPY and CAF’s (i) amortisation of acquired intangibles (FY26 $nil, FY25 $0.7m, pre-tax), (ii) transaction costs (FY26 $nil, FY25 $0.2m, pre-tax) and (iii) the release of contingent consideration for the acquisition of FAM by CAF ( FY26 $nil, FY25 $0.2m, pre-tax). 25 Members and NCI 1 Members FY26 $m FY25 $m Variance $m FY26 $m FY25 $m Variance $m Statutory EBITDA from core operations 67.3 60.5 6.8 49.8 40.1 9.7 Adjustments (pre-tax): Acquisition-related expenses 1.6 - 1.6 1.3 - 1.3 Redundancy and restructuring costs 0.2 - 0.2 0.2 - 0.2 Profit on disposal of assets (0.2) (3.6) 3.4 (0.2) (3.6) 3.4 Adjustment related to associates 2 - 0.7 (0.7) - 0.7 (0.7) Share options issuance to non-executive directors - 2.4 (2.4) - 2.4 (2.4) Long-term incentive (LTI) expenses 0.4 0.7 (0.3) 0.4 0.7 (0.3) Underlying EBITDA from core operations 69.3 60.7 8.6 51.5 40.3 11.2
Page 26
26 Prior year adjustments (In $’m) FY25 Reported Adjustments FY25 Restated Revenue 363.5 1.6 365.2 EBITDA 58.4 2.3 60.7 Net interest income / (expense) 0.3 (1.6) (1.3) Depreciation (4.8) - (4.8) Amortisation (13.0) - (13.0) NPBT 40.9 0.7 41.6 Tax (11.9) - (11.9) NPAT 29.0 0.7 29.7 Minority interests (10.9) - (10.9) NPAT to shareholders 18.1 0.7 18.8 EBITDA to shareholders 38.4 1.9 40.3 NPATA to shareholders 24.0 0.7 24.6 EPSA to shareholders (cps) 12.00 0.32 12.32 Appendices Revenue includes interest income earned on cash available for lending in the Lending segment (+$1.6m), previously presented in the Net interest income / (expense) line. EBITDA & NPATAhave also been adjusted to exclude share-based payment expense associated with the long-term incentive share issuance (+$0.7m), for the purposes of Underlying profit (refer to page 24 for a reconciliation between the Statutory and Underlying EBITDA). Net interest income/(expense) excludes interest earned on cash available for lending in the Lending segment (-$1.6m) as it is now presented in the Revenue line (above the EBITDA line). The following adjustments were made to the reported FY25 (prior comparative year) to conform with the current year presentation:
Page 27
Appendices Statement of Financial Position 1. As at 30 June 2026, the Group’s current assets of $318.0m are $36.3m lower than current liabilities of $354.3m due to Westlaw n, which funds its operations through the issue of short-term unsecured notes. Whilst the carrying value of those notes has been presented in the balance sheet in accorda nce with their maturity profile, historically there has been a consistently high reinvestment rate by investors, who choose not to withdraw their funds at the maturity of the note term and roll their funds into a new unsecured note. On this basis, the mismatch between current assets and current liabilities is not indicative of any form of l iquidity issue. 2. Certain prior comparative information has been reclassified to conform to the current year presentation. Cash and cash equivalents increased by $37.7m primarily reflecting higher salary packaging clients’ funds held at year end. Financial assets – lease and loan receivables relates to lease, chattel mortgage and other lending product receivables in the Lending segment. The overall decrease of $58.5m is largely due to $60.3m sales of chattel mortgages, repayments collected and the continued run-off of the TL Commercial Finance's lending portfolio, which are partially offset by originations of $115.1m in Westlawn (mostly relating to the chattel mortgage products). Intangible assets mainly reflects identified intangibles and goodwill on acquisition of controlled entities. The movement of $37.1m in the year largely reflects $47.8m of intangibles recognised on the acquisition of Easifleet, which are partially offset by the amortisation of acquired intangibles (aside from goodwill). Interest bearing liabilities represents borrowings funding the lease / loan book as well as corporate debt. The movement in the year primarily includes decreased funding liabilities associated with the Lending segment of $59.2m mostly due to principal reductions and net redemptions of unsecured notes, partially offset by increased corporate and other debt of $27.4m (net of repayments), largely due to partially finance acquisitions of Easifleet as well as additional equity interests in Fleet Network and Access Capital from the respective minority shareholders. 27 As at 30 Jun 2026 ($m) 30 Jun 2025 2 ($m) Cash and cash equivalents 187.0 149.3 Trade and other receivables 25.6 20.0 Contract assets 3.5 3.3 Financial assets - lease receivables 2.9 3.8 Financial assets - loans 76.6 91.1 Other current assets 22.4 21.2 Total current assets1 318.0 288.7 Contract assets 10.2 9.6 Financial assets - lease receivables 1.8 4.8 Financial assets - loans 140.2 180.3 Equity accounted associates 1.2 0.8 Deferred tax assets 3.8 3.0 Property, plant and equipment 11.1 12.1 Intangible assets 216.0 178.9 Right-of-use lease assets 12.4 11.3 Other non-current assets 16.6 8.3 Total non-current assets 413.3 409.1 Total assets 731.3 697.8 Trade and other payables 58.4 34.3 Customer salary packaging liability 68.3 32.2 Interest bearing liabilities 203.2 231.7 Current tax liabilities 10.5 5.4 Lease liabilities 2.1 2.4 Other current liabilities 11.8 10.8 Total current liabilities 1 354.3 316.8 Trade and other payables 18.1 20.3 Interest bearing liabilities 129.0 132.3 Deferred tax liabilities 10.2 9.0 Lease liabilities 11.5 9.6 Other non-current liabilities 1.6 2.8 Total non-current liabilities 170.4 174.0 Total liabilities 524.7 490.8 Net assets 206.6 207.0
Page 28
Appendices Statement of Cash Flows 1. Cash and cash equivalents at the end of the year includes restricted cash of $98.1m (30 June 2025: $47.4m). Restricted cash represents funds held by the Group on behalf of its novated leasing customers, insurance broking trust accounts (representing the unpaid insurance premiums due to insurers and refunds due to customers), and funds sitting in a consolidated Trust under the control of an external Trustee, only available for use by that Trust. 2. Certain prior comparative information has been reclassified to conform to the current year presentation. Net cash inflow from operating activities includes $30.7m (FY25: $31.6m) relating to the lease and loan products offered through the Lending segment (including recovery of terminated leases) under ‘Receipts from customers'. Net cash inflow from investing activities includes (i) proceeds from sales of Westlawn’s loan receivables of $60.3m (FY25: proceeds from sales of investments in associates: CAF $13.8m and EPY $12.7m), and (ii) payments for the acquisition of salary packaging business, Easifleet group of ($23.6m) (FY25: the acquisitions of Community Salary Packaging Ltd $1.9m, mortgage finance broking business CCHL (Qld) Pty Ltd $0.9m, and AAA Finance for $4.9m). Net cash (outflow) from financing activities includes (i) proceeds from issue of shares for capital raising +$20.0m (FY25: shares issued under DRP, LTI and business combinations +$4.5m ), (ii) acquisitions of additional equity holdings in Fleet Network ($23.9m) and Access Capital ($1.4m) from minority shareholders (FY25: nil), and (ii) repayments of COG’s corporate facilities (FY25: $20.8m) 28 (In $m) FY26 FY252 Receipts from customers 459.5 407.8 Payments to suppliers and employees (343.4) (323.4) Dividends received 0.1 1.5 Finance costs paid (17.7) (21.4) Income taxes paid (16.1) (15.2) Net cash inflow from operating activities 82.4 49.3 Net cash outflow on acquisitions, net of cash acquired (24.3) (8.9) Proceeds from sales / (payments for acquisitions) of associates (0.4) 26.5 Payments for deferred consideration (2.5) (0.2) Proceeds from equipment - finance leases - (0.1) Repayments of equipment - finance leases 4.1 7.4 Loans advanced to customers (115.1) (106.8) Proceeds from loans repayments 106.4 92.4 Proceeds from sales of loan receivables 60.3 - Payments for property, plant and equipment (1.0) (3.4) Proceeds from sales of property, plant and equipment - 0.1 Payments for intangible assets (1.9) (2.5) Payments for acquisitions of investments (19.2) (15.3) Proceeds from sale of investments 11.5 18.9 Net cash inflow from investing activities 17.9 8.1 Proceeds from issue of shares 20.0 4.4 Payments for the costs of share capital raising (0.6) - Proceeds from interest-bearing liabilities 42.1 61.6 Repayments of interest-bearing liabilities (73.9) (66.4) Repayments of lease liabilities (3.0) (3.0) Dividends paid (13.5) (14.7) Dividends paid by subsidiaries to non-controlling interests (9.9) (11.1) Disposals of part interest in subsidiaries 1.3 0.2 Non-controlling interest acquired (27.8) (5.6) Non-controlling interest acquisition contributions 2.7 0.8 Net cash (outflow) from financing activities (62.6) (33.8) Net increase in cash and cash equivalents 37.7 23.6 Cash and cash equivalents, beginning of the financial year 149.3 125.7 Cash and cash equivalents, end of the year 1 187.0 149.3
Page 29
Appendices 29 Efficient Capital Management Disciplined allocation supporting strategic growth & shareholder returns The Group has generated significant cash over the year, and figure above represents the proportionate share of unrestricted cash and term deposits attributable to members. Capital expenditure is predominantly directed towards the strategic development and implementation of core IT systems. Proportionate share of unrestricted cash $73.7m as at 30 June 2026 1 Capital Expenditure (Capex) $2.9m spent in FY26 (vs FY25: $6.2m) Shareholder Dividend Distributions 2 1H26 Interim Dividend 3.5 cps vs 3.0 cps (1H25) Total Payout: $7.4m (out of profits reserve) Franking: 100% Fully Franked 2H26 Final Dividend 3.5 cps vs 3.0 cps (2H25) Total Payout: $7.5m (out of profits reserve) Franking: 100% Fully Franked Policy: Payout ratio up to 70% of NPATA to members Paid 15 Apr 2026 Payable 1 Oct 2026 1. See page 33 for more information on Cash and cash equivalents at the end of the year. 2. The Company’s dividend policy permits a payout ratio of up to 70% of NPATA to members. Dividend Reinvestment Plan (DRP) rules are disclosed on the Company’s website www.cogfs.com.au. Under the DRP, holders of ordinary shares can elect to have all or part of their dividend entitlements satisfied by the issue of new ordinary shares rather than being paid in cash. Shares issued under the DRP may be subject to a discount of up to 5% of the market price, or a higher percentage determined by the Board. The Com pany’s DRP has been suspended in relation to FY26 dividends. Ex-dividend date: 31 August 2026Ex-dividend date: 10 March 2026 Record date: 1 September 2026Record date: 11 March 2026
Page 30
LTI ISSUANCE $1.9m 1.435m Shares COG CAPITAL PLACEMENT $20.0m 10.0m Shares Executive Incentive: ❑ Issued 20,042 fully paid ordinary shares totaling $43k for the CEO (Sep 2025) in relation to vested performance rights from FY23. ❑ Issued 1,415,000 fully paid ordinary shares totalling $1,892k for employees (Mar 2026). in respect of the loan-backed share scheme for FY26 Growth Funding: Issued 10,000,000 fully paid ordinary shares totaling $20.0m to fund the acquisition of additional equity interest in Fleet Network via subsidiary Platform Consolidated Group Pty Ltd ("PCG"). Long-Term Incentive (LTI) Issuance COG 17 Sep 2025 17 Oct 2025 Aligns leadership remuneration with long-term shareholder value creation. Increases shareholders’ economic interest and earnings exposure to the salary packaging sector. 25 Mar 2026 Appendices 30 Capital Management: Debt & Equity Activity Targeted capital placement supporting strategic expansion in the Salary Packaging segment ACQUISITION FINANCE FACILITY $27.9m Utilised Finance Facility ❑ Establishment: Established in Feb 2022 with a major Australian Bank; amended in Sep 2025 to reflect principal drawdowns repayable at end of 5-year term. ❑ Security and Covenant: Standard security & covenants for a facility of this kind, including a first-ranking general security over assets & undertakings of COG. ❑ Utilisation: $27.9m utilised for the acquisition of additional equity interest in Fleet Network via PCG as at 30 June 2026. 5-Year Term Debt Equity
Page 31
Effective Date Acquired or Disposed Entity/ Business Acquiring Entity within the Group Impact of Acquiring Entity’s Ownership Considerations & Funding Structure 1 Sep 2025 Easifleet Pty Ltd (100% issued share capital) Paywise Pty Ltd (Fleet Network’s subsidiary) 0.00% → 100.00% $36.5m cash consideration and working capital adjustment. Contingent: Up to $8.1m payable between Jul 2026 and Jun 2029 (fair value $7.3m at acquisition date) Funded via COG cash reserves ($12.0m) and Debt facility ($25.3m) 1 Sep 2025 Fleet Network (59,534 new shares issued to PCG as part of capital raising) Platform 74.59% → 78.30% $37.3m cash contribution for 59,534 new shares Funded via Debt facility ($25.3m) and Cash reserve ($12.0m) This transaction was undertaken to facilitate the Easifleet acquisition. 1 Sep 2025 Fleet Network (minority shareholder buyout) Platform 78.30% → 92.38% $23.9m cash consideration for an additional 14.08% equity interest Contingent: Up to $4.7m payable between Jun 2028 and Dec 2030 (fair value $3.8m at acquisition date) Funded via COG equity placement ($20m), Debt facility ($2.6m), Cash reserve ($1.3m) 1 Oct 2025 Access Capital Pty Ltd (minority shareholder buyout) QPF Holdings Pty Ltd (“QPF”) 80.00% → 90.00% $1.4m cash consideration Acquired an additional 10.0% equity interest Appendices 31 Capital Management: Investments Strategic capital deployment and equity transactions MAJOR ACQUISITION Easifleet (100%) $36.5m cash consideration via Paywise FLEET NETWORK STAKE INCREASE 74.59% → 92.38% Controlling interest expanded across 2 steps
Page 32
Effective Date Acquired or Disposed Entity/ Business Acquiring Entity within the Group Impact of Acquiring Entity’s Ownership Consideration & Funding Structure 1 Dec 2025 Heritage Corporate Partnership and Heritage Finance Partnership Linx Group Holdings Pty Ltd 77.50% → 75.00% $82k cash consideration Sold 2.50% indirect interest to a key employee of Heritage 1 Jan 2026 Vehicle and Equipment Finance Pty Ltd PCG 50.00% → 60.25% $0.5m cash consideration Acquired an additional 10.25% equity interest 1 Jan 2026 Westlawn Insurance Brokers Pty Ltd (“WIB”) Westlawn Finance Limited 90.00% → 95.00% $1m cash consideration Acquired an additional 5.00% equity interest 1 Feb 2026 Capital Plus Finance (CPF) PCG 50.00% → 0.00% $0.2m cash consideration (resulted in a profit on disposal of $0.2m) Disposed of its entire 50% equity interest 1 Apr 2026 Westlawn Insurance Brokers (Coffs) Pty Ltd (WIBC) WIB (Westlawn’s subsidiary) 80.00% → 70.00% $0.3m cash consideration Disposed of a 10.00% equity interest 1 Jun 2026 Agri Finance (acquired the business as a going concern) Security Allied Finance (QPF’s subsidiary) n/a $0.7m cash consideration Contingent: estimated $0.7m at present value based on future earnings 1 Jul 2026 Access Capital Pty Ltd QPF 90.00% → 80.00% $1.2m cash consideration Disposed of a 10.00% equity interest Appendices 32 Capital Management: Investments (cont’ d) Strategic capital deployment and equity transactions
Page 33
Appendices Share of Unrestricted Cash - Attributable to Members 1.Cash and cash equivalents at the end of the year includes restricted cash of $98.1m (30 June 2025: $47.4m ). Restricted cashrepresents funds held by the Group on behalf of its salary packaging and novated leasing customers, insurance broking trust accounts (representing the unpaid insurance premiums due to insurers and refunds due to customers), and funds sitting in a consolidated Trust under the control of an external Trustee, only available for use by that Trust. 2.The Lending segment cash is almost exclusively related to the Westlawn group. Given the issuance of Unsecured Notes by Westlawn Finance which are governed by a Prospectus, there are some limitations on howthese funds can be used. 3.Based on COG’s ownership of the relevant entity. Segment's name Total cash Restricted cash1 Unrestricted cash Proportionate share of unrestricted cash attributable to Members3 Salary Packaging 93.7 77.6 16.1 14.9 Broking & Aggregation 25.9 6.7 19.2 12.8 Lending 2 44.5 13.8 30.7 23.1 Other 22.9 - 22.9 22.9 Total 187.0 98.1 88.9 73.7 33 (In $’m)
Page 34
Appendices Broking & Aggregation A Growing National Group of Businesses WA NT QLD SA NSW & ACT VIC TAS Broker firms Brokers (individuals) 21 Nationally: 1,885819 Delivering $8.5 bn funded in FY26 34 +3% on pcp +5% on pcp 15256 559180 576271 5515 105 531291 Represented by Broker firms Brokers (individuals) +5% on pcp