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Anthony Hynes. Executive Chair Stuart Will. CFO 25 February 2026 For personal use only
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– 2 This investor presentation has been prepared by EML Payments Limited ABN 93 104 757 904 (EML) and is general background information about EML’s activities current as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information in this presentation should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities and does not take into account your particular investment objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information having regard to these mat ters and seek independent financial advice. An investment in EML securities is subject to known and unknown risks, some of which are beyond the control of EML. EML does not guarantee any particular rate of return or the performance of EML. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to EML’s businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions, contingent liabilities and risk management practices. Readers are cautioned not to place undue reliance on any forward looking statements. Unless otherwise specified all information is fo r the half year ended 31 December 2025 (“1H26"), and is presented in Australian Dollars. Unless otherwise stated, the prior comparative period refers to the half year ended 31 December 2024 (“1H25"). Disclaimer The information contained in this update is provided for general information purposes and is a summary only. The content of t he update is provided as at 25 February 2026. Given the uncertain, unpredictable and volatile nature of business and economic conditions across the world and the significant inf luence of some third parties (such as regulators) on the business, reliance should not be placed on the content of this presentation or opinions contained in it. Further, subject to any legal obligation to do so, EML does not have any obligation to correct or update the content of this presentation. The update does not purport to contain all information necessary to make an investment decision, is not intended as investment or financial advice (nor tax, accounting or legal advice), and must not be relied upon as such. The update is o f a general nature and does not take into consideration the investment objectives, financial situation or particular needs of any particular investor. Any investment decision should be made solely on the basis of your own inquiries, including inquiries beyond the scope and content of this update. Before making any investment in EML, you should consider whe ther such an investment is appropriate to your particular investment objectives, financial situation, risk appetite and needs. EML is not licensed to provide financial product advice in respect of its shares. About Us EML Payments is a global payments company that operates in Australia, New Zealand, the UK, Europe, and North America. Our customers are diverse including government, retail brands, fintechs and financial services companies. For more information: EMLPayments.com. This ASX announcement has been authorised for release by the Board of Directors. Disclaimer & Important Notice 2 For personal use only
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1H26 Overview. 3 For personal use only
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Key themes at the half year. 4 Restructure program on track to conclude by 30 June 2026. Org structure and leadership refresh near completion – 28 management positions refreshed LTM. We are more efficient – GlobalOps Centre, recycling Opex into more productive commercial capability. Pipeline is strong and wins are flowing however implementation timeline is lagging and subject to reengineering by end FY26. Product development now front and centre. Product team expanded to cater for customer driven demand. FY26 underlying EBITDA guidance tightened to from $58-$64m to $58- $60m given slower onboarding of new customers (FY26) and aided by overhead control. 1 2 3 4 A year of operational transformation progressing to plan, lead indicators are positive. EML 2.0 medium term targets unchanged. For personal use only
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1H26 Performance Snapshot. Profitability Statutory NPAT $(4.0)m 5 16% EBITDA (underlying)2 $28.0m Revenue 4% Customer Revenue $79.4m 6% Total Revenue $108.4m Cash Net Cash Movement $(11.5)m 19% Cash $47.8m eps (1.04) cpsfrom $9.5m Notes: 1 Continuing operations, as per the Interim Report, excludes the impact of Sentenial. 2 Profit and loss and key metrics have been adjusted for one off items. A reconciliation and explanation of each underlying earnings adjustment is provided in the Analyst briefing data pages appended to this presentation. 3 Movement from 30 June 2025. Continuing operations1 3 For personal use only
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Single Platform Deploying a single platform with broader product set + digitised operations EML 2.0 progressing to plan. 6 Global Operating Model Optimising our operating model + strengthening leadership Revived Revenue Engine Building a focused revenue engine to nurture the core and expand ✓ New structure and management continues to deliver improved speed, collaboration and efficiency ✓ GlobalOps Centre realizing 35% cost saving – 18 FTE increasing to 40+ FTE over next 6 months ✓ Global HRIS platform deployed ✓ Pipeline building strongly – target of $90m exceeded @ 31 December and growth continues ✓ Conversion ahead of target ✓ Continued key client renewal momentum with a Top 5 re- signing ahead of schedule ✓ Commercial and product leadership upweighted ✓ Advancing at pace through build phase ✓ Migration planning in full swing ✓ Production deployment for first region on track For personal use only
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Business development momentum. 7 As at February 2026 Annualised revenue forecast1 Pipeline $102m EUR, 17.7 AUS, 24 NAM, 60 EUR, 2.5 AUS, 4.8 NAM, 16.4 1. A portion of this amount will be realised this financial year based on start date and ramp dynamics. 2. We expect this to moderate in time, sample size remains limited (time and scale) New wins $23.8m Launched $10.3m To launch $13.5m At 51% Conversion2 < 60 days $13.1m What’s great? 1. Pipeline build on track, with NAM a strong contributor 2. Conversion rate ahead of plan 3. Margins holding to plan 4. Digital programs re-energised What’s not? 5. Time from sign to revenue - mix of internal process / partners / clients. Global onboarding revamp underway to be completed by June 2026. 6. EUR lagging, management change executed For personal use only
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More from the core. 8 Through commercial relationship management and better execution. 69 71 73 75 77 H1FY25 H1FY26 $m +5.3% Concentration well managed 1. Ex interest, ex previously reported client terminations Top 30 ~46% Revenue Revenue Revenue Top 5 ~21% Top client ~8% Existing client customer revenue (ex interest) Excluding 2024 client terminations previously reported Top 30 client renewal year spread • 9 Top 30 contracts renewed LTM, 2 clients lost in the Top 15-30 bracket but not to competitors • Growth in existing client revenue1 in our forecast range • Product development and expansion in focus • Better management, better process, better teamwork 0% 5% 10% 15% 20% 25% FY26 FY27 FY28 FY29 FY30 FY31 FY34 For personal use only
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The $1T global fuel card market is about to have its Kodak moment Legacy Technology Today’s networks and products are based on complex and inflexible legacy technology that stifles innovation, is hardware intensive and often proprietary black box. Unmet Customer Demand Selling fuel isn’t enough in the digital age. Enterprise clients want and need a functionally richer experience for their customers – narrow use to broad use. High cost The cost of today’s products are magnitudes higher than mainstream payment infrastructure. Strategic Product Development - Mobility. EVs now a factor Global EV adoption creating demand for flexible payment infrastructure Fleet Managers intending to invest more in digital fleet solutions Webfleet Fleet Digitisation Report 2024 91% For personal use only
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Market size and growth profile. 10 25B 37B 30B 25B 55B TAM 2033 $2.1t TAM 2023 $1.0t 11% CAGR Global TPV TAM $USD Key Markets TPV $USD Source: Imarc, Visa, Internal For personal use only
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Our technology will democratise access Our configurability will be world beating Our GTM caters for all client types Our platform will reduce costs We are uniquely placed to bring together payments, fleet management and fuel retailing to create the mobility payment network of the future, delivered today.... Fixed closed networks are dead Digital natives, beyond fuel, best of breed CX We speak all languages – retailer, fleet manager, enterprise, driver…….regular usage + T&E irregular usage Global strategic partner infrastructure, no hardware, all CX and interoperability + Program Management Issuing + processing Closed + open loop Reg. + payment rail licensing Ledger + funds management Large existing client base Global fuel retailer integrations Enterprise solutions for own brand programs Control & configuration Deep domain expertise The solution Fuel FinTech Proof of concept underway For personal use only
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Project Arlo – single global platform. 12 Powering a faster, digitised and expansionary EML2.0 FY26 FY27 FY28 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Deploy New clients MigrationUK AU NAM + EUR Deploy New clients Deploy New clients Core Build Transaction Processor (Visa + Mastercard) Ledger High value-add functions Customers Data Warehouse PROGRAM DESIGN PRODUCT CONFIG REGULATORY CUSTOMER SERVICE FLOAT & TREASURY LOYALTY CONTROLSISSUANCE $ Orchestration layer + Third Party connections API API Portals + Apps + SDK * Subject to ongoing migration planning with key clients Schedule @ Feb26 Architecture – build the IP & license the commodity * * * For personal use only
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1H26 Financial Results. Note: Throughout this presentation, amounts may not sum and change calculations may not equate due to rounding. 13 For personal use only
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Key operating performance metrics. Profit and loss:2 1H25 to 1H26 Notes: 1 Continuing operations, as per the Interim Report, excludes the impact of Sentenial. 2 Profit and loss and key metrics have been adjusted for one off items. A reconciliation and explanation of each underlying earnings adjustment is provided in the Analyst briefing data pages appended to this presentation. 3 Net overheads includes intercompany management fee income from Sentenial when they were part of the Group in 1H25, and income received from PCSIL / Interpath for costs incurred by EML in 1H25. This income is included in the Interim Report note 3(c). 4 Movement from 30 June 2025. 5 Subject to Court Approval Underlying EBITDA decreased 16% ($5.5m) to $28.0m, primarily reflecting a challenging prior-year comparison following ~$3.0m of non-recurring revenue in 1H25 and lower interest income of $3.8m. — Revenue decreased 6% to $108.4m with: — customer revenue down 4% as Europe declined with ~$3.0m non-recurring revenue in 1H25 offset partially with growth in Australia and North America. — interest challenge (11%) across all regions as central banks reduced rates. Interest on float decline partly offset by higher bond interest in Europe. 1H26 annualised yield was ~3.1% (1H25: ~3.7%). Exit yield is ~2.8% at 1H26. — Net overheads decreased $0.2m, driven by efficiency gains from EML 2.0, partly offset by higher irrecoverable VAT/GST. Dividends from the simplification of operations have been reinvested in the commercial and go to market engine. — Cash decreased from June 2025 by $11.5m reflecting operating cash outflows, repayment of PCSIL liquidator partially funded by a debt drawdown. Operating cash outflow includes class action5, Project Arlo, and restructuring payments. A$’m 1H26 1H25 Change Customer revenue 79.4 82.3 ▼ (4%) Interest revenue 29.0 32.8 ▼ (11%) Revenue 108.4 115.1 ▼ (6%) Selling costs (27.4) (28.4) ▼ 4% Underlying gross profit 81.1 86.7 ▼ (7%) Net overheads3 (53.1) (53.3) ▼ (0%) Underlying EBITDA 28.0 33.4 ▼ (16%) Metrics GDV (A$’b) $12.5b $12.6b ▼ (0%) Revenue yield 87 bps 92 bps ▼ (5) bps Interest yield (%) 3.1% 3.7% ▼ (0) bps Underlying Gross Profit margin (%) 75% 75% ▼ (1%) Underlying EBITDA margin (%) 26% 29% ▼ (3%) Cash (A$’m) 4 $47.8m $59.3m ▼ (19%) Continuing operations1 14 For personal use only
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$60.1m $68.0m 27% 39% - 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% - 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 1H26 1H25 Financial performance 15 GDV $3.4bn 5% (1H25: $3.2bn) Commentary — Revenue was down 12% on 1H25, driven by softer customer revenue and interest rate decline. — Customer revenue decreased due to: — ~$3.0m non-recurring revenue in 1H25 — $3.2m revenue from terminated customers, partially offset by — stronger performance of remaining existing customers. — Ongoing investment in commercial teams is aimed at strengthening client retention and supporting pipeline growth. — Interest revenue down 10% due to lower central bank rates, partly offset by investment in higher yield bonds. — Net overheads increase of 11% on pcp due to two key factors – increase in irrecoverable VAT +$1.2m and a slightly increased share of corporate overheads. A$'m 1H26 1H25 Change Customer revenue 36.5 41.8 ▼ (13%) Interest revenue 23.6 26.2 ▼ (10%) Revenue 60.1 68.0 ▼ (12%) Selling Costs (12.2) (13.4) ▼ 9% Underlying Gross Profit 48.0 54.6 ▼ (12%) Net Overheads (31.6) (28.4) ▲ (11%) Underlying EBITDA 16.4 26.2 ▼ 37% Metrics GDV (A$’b) $3.4bn $3.2bn ▲ 5% Revenue yield 178 bps 211 bps ▼ (33) Bps Underlying Gross Profit margin (%) 80% 80% - Underlying EBITDA margin (%) 27% 39% ▼ (12%) Europe. Continuing operations Revenue Underlying EBITDA margin (%) For personal use only
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$28.0m $26.8m 27% 27% - 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% - 5.0 10.0 15.0 20.0 25.0 30.0 1H26 1H25 Financial performance 16 Commentary — Revenue increased 5% driven by an uplift in customer revenue offsetting lower interest revenue. — Customer revenue growth is driven by the Human Capital Management (HCM) vertical, with salary packaging active benefit accounts up 5% on 1H25. — Interest revenue down 18% with lower central bank rates on pcp - this has driven the decrease in revenue yield (11bps). Normalising for interest, revenue yields would have been down 3 bps with the growth of lower margin retail sector the driver. — GDV has increased 13% with retail and HCM growth, with Gross profit margin steady compared to pcp. — Increase in Net overheads is due to the investment to support EML 2.0. A$'m 1H26 1H25 Change Customer revenue 23.4 21.2 ▲ 10% Interest revenue 4.6 5.6 ▼ (18%) Revenue 28.0 26.8 ▲ 5% Selling Costs (9.9) (9.5) ▲ (5%) Underlying Gross Profit 18.1 17.3 ▲ 5% Net Overheads (10.6) (10.2) ▲ (5%) Underlying EBITDA 7.5 7.1 ▲ (4%) Metrics GDV (A$’b) $2.0bn $1.7bn ▲ 13% Revenue yield 142 bps 154 bps ▼ (11) Bps Underlying Gross Profit margin (%) 65% 65% - Underlying EBITDA margin (%) 27% 27% - Asia Pac. Continuing operations Revenue Underlying EBITDA margin (%) GDV $2.0bn 13% (1H25: $1.7bn) For personal use only
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$20.3m $20.3m 14% 20% - 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% - 5.0 10.0 15.0 20.0 25.0 1H26 1H25 Financial performance 17 Commentary — Revenue in line with 1H25 reflecting steady customer revenue offset with lower interest revenue. — GDV declined by 6% primarily due to reduced volumes from our VANs product, which operates at a lower margin. — Customer revenue was flat on pcp with corporate incentive sector performing well offset by a decline in retail. — Net overheads uplift of 13% on pcp, due to irrecoverable GST in Canada +$0.4m and targeted use of professional fees. A$'m 1H26 1H25 Change Customer revenue 19.4 19.3 ▲ 1% Interest revenue 0.8 1.0 ▼ (19%) Revenue 20.3 20.3 - Selling Costs (5.3) (5.6) ▼ 5% Underlying Gross Profit 14.9 14.8 ▲ 1% Net Overheads (12.1) (10.7) ▲ (13%) Underlying EBITDA 2.9 4.0 ▼ (29%) Metrics GDV (A$’b) $7.1bn $7.6bn ▼ (6%) Revenue yield 28 bps 27 bps ▲ 2 Bps Underlying Gross Profit margin (%) 74% 73% ▲ 1% Underlying EBITDA margin (%) 14% 20% ▼ (6%) North America. Continuing operations GDV $7.1bn 6% (1H25: $7.6bn) Revenue Underlying EBITDA margin (%) For personal use only
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Underlying overheads net of Cost Recoveries were $53.1m, in line with PCP Underlying overheads net of Cost Recoveries: half year cost from 1H24 to 1H26 ($’m) — Net overheads of $53.1m was maintained relative to pcp and 2% favourable to prior half (2H25), as cost optimisation measures have been implemented and EML 2.0 begins to take shape. — Cost savings delivered across employee entitlements, and professional fees have largely been offset by higher irrecoverable VAT/GST charges. — Employee entitlements were down $1.4m on pcp as the new executive team simplified operations. — All material costs other than employee entitlements and professional fees were broadly in line with prior year. Notes: 1 Other expenses includes Marketing, Travel, Risk and Compliance, Office Management Costs, Bank Costs. Continuing operations Underlying overheads net of Cost Recoveries. Underlying overheads net of Cost Recoveries: 1H25 to 1H26 ($’m) Net Overheads Change on prior period 18 1 51.6 48.3 53.3 54.3 53.1 14% (6%) 10% 2% (2%) -0.2 0 0.2 0.4 0.6 0.8 1 45.0 47.0 49.0 51.0 53.0 55.0 1H24 2H24 1H25 2H25 1H26 (1.4) (1.5) 1.6 0.6 0.4 53.153.3 1H FY25 Employee Entitlements Professional Fees VAT/ GST ICT Other 1H FY26 For personal use only
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Treasury management. Interest income ($’m)Stored float (by currency) at December 2025 Stored float by type Cash $1.9bn1 Bonds $0.7bn Group (excl PCSIL and Sentenial) 22.1 32.8 29.0 1H24 1H25 1H26 GBP 42% AUD 22% USD 3% Other 6% EUR 26% A$ 'm 1H26 1H25 Change Europe 1,783 1,676 6% Asia Pac3 858 832 3% North America - - -% Total 2,641 2,507 5% Stored float by Segment2 (excl PCSIL and Sentenial ) 2. Reflects Segregated funds asset on balance sheet 3. Asia Pac float of $0.9bn includes $0.5bn which is non-interest bearing for EML. 1. Of the cash balance - $0.5bn of customer float generates no interest revenue for EML. — Interest revenue has decreased 11% to $29.0m, attributable to reductions in central bank and counterparty bank account interest rates on float balances, offset by higher returns on reinvestment of bonds. — Annualised yield in 1H26 was ~3.1% (1H25: ~3.7%). Exit yield at 31 December 2025 is ~2.8%. $2.6bn Bond contribution to total interest 51% $14.9m Bond average term 2.5 years Bond average yield 3.9% 19 For personal use only
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Underlying operating cash flow was $22.2m in the period Continuing operations Cash flow. Cash flow – key movements (A$m) 1H26 Cash at beginning of year 59.3 One-offs and class action1 costs (55.4) Organic cash generation (net) 22.2 Net investing cash outflow (4.4) Net financing cash drawdown 27.7 Impacts of foreign exchange (1.6) Cash at end of period 47.8 20 — Underlying EBITDA of $28.0m generated $33.2m net cash outflow from operations, driven by the payment of the class action1, one-off and Project Arlo costs. — One-off costs reflect legacy matters, restructuring costs paid, partially offset by receipt of insurance settlement. — Underlying operating cash $22.2m represents a cash conversion rate of 79%, reflecting limited working capital movements benefitting from the receipt of previously accrued interest and strong cash alignment with earnings. — Overall, cash decreased by $11.5m during 1H26, primarily due to: — Net cash outflow from operations of $33.2m — $4.4m investing cash outflows reflecting capitalised costs — $27.7m net financing inflow reflecting: — $44.0m debt drawdown to fund class action payment; offset by — $13.3m repayment to PCSIL liquidators (Interpath). EBITDA to underlying operating cash flow (A$m) 1. Subject to Court approval For personal use only
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2H26 Outlook & Priorities. 21 For personal use only
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2H26 priorities. Pipeline to ~$125m June 2026 Improve sign to revenue time. MVP Mobility Solution deployed. Commence strategic product validation for solution # 2. 22 Build pipeline and close deals Accelerate Global Ops Centre recruitment to realise further efficiencies. Agentic AI + unified service management acceleration across our operational teams. Efficiency Arlo UK production deployment executed in Q4FY26 Migration planning complete for all regions by 30 June 2026 AI tooling to ramp across both Arlo and BAU engineering. Technology Complete commercial and product team buildout. Arlo regional readiness + change program commences. People Turn wins to revenue, complete restructuring program and lay the foundation for an expansionary FY27. For personal use only
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Q&A. 23 For personal use only
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Appendix. 24 For personal use only
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Analyst briefing data: segment profit & loss. 25 Notes: 1 Profit and loss and key metrics have been adjusted for one off items. A reconciliation and explanation of each underlying earnings adjustment is provided on the following pages. 2 Net overheads includes intercompany management fee income from Sentenial when they were part of the Group, and income received from PCSIL / Interpath for costs incurred by EML. This income is included in the financial statements note A2. Refer Analyst briefing data page 20 : Analyst briefing data: Reconciliation - statutory to management P&L for further detail. 3 Corporate delivered a positive EBITDA of $1.3m in 1H26, reflecting the implementation of a refreshed group wide transfer pricing policy to align with the groups increasingly centralised operating model. 1H26 1H25 A$'m Europe Asia Pac North America Corp.3 Continuing Operations Europe Asia Pac North America Corp. Continuing Operations Sentenial 1H25 Customer revenue 36.5 23.4 19.4 - 79.4 41.8 21.2 19.3 - 82.3 2.5 84.8 Interest revenue 23.6 4.6 0.8 0.0 29.0 26.2 5.6 1.0 0.0 32.8 - 32.8 Total revenue 60.1 28.0 20.3 0.0 108.4 68.0 26.8 20.3 0.0 115.1 2.5 117.6 Selling costs (12.2) (9.9) (5.3) - (27.4) (13.4) (9.5) (5.6) - (28.4) (0.3) (28.7) Underlying Gross Profit 48.0 18.1 14.9 0.0 81.1 54.6 17.3 14.8 0.0 86.7 2.2 88.9 Net Overheads2 (31.6) (10.6) (12.1) 1.2 (53.1) (28.4) (10.2) (10.7) (4.0) (53.3) (2.7) (56.0) EBITDA - underlying 16.4 7.5 2.9 1.3 28.0 26.2 7.1 4.0 (3.9) 33.5 (0.6) 32.9 Metrics GDV (A$'b) $3.4b $2.0b $7.1b $12.5b $3.2b $1.7b $7.6b $12.6b Revenue yield 178 bps 142 bps 28 bps 87 bps 211 bps 154 bps 27 bps 92 bps Gross Profit margin (%) 80% 65% 74% 75% 80% 65% 73% 75% Underlying EBITDA margin (%) 27% 27% 14% 26% 39% 27% 20% 29% Segment profit and loss1: 1H26 and 1H25 For personal use only
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A reconciliation from statutory accounts to management’s profit and loss is set out opposite, with adjustments made for Arlo, one off and restructuring adjustments. Note the following: • Statutory Other income was $5.5m with it all relating to legal settlement income. This is not included in managements profit & loss to EBITDA. One off adjustments of $13.8m are detailed on the following page. Analyst briefing data: Reconciliation - statutory to management P&L. 26 Included in Management’s profit and loss to EBITDA Not reported in Management’s profit and loss to EBITDA Statutory profit and loss A$'m 1H26 1H25 Revenue from contracts with customers 78.8 82.3 Interest income 29.0 32.8 Total revenue 107.8 115.1 Other income 5.5 4.0 Expenses Selling costs (29.0) (28.4) Employee and employee-related expenses (37.7) (36.6) Professional fees (5.4) (9.7) Information technology related costs (9.6) (9.9) Impairment expense (0.4) - Other operating expenses (11.6) (7.3) Share-based payments (10.7) (1.3) Depreciation and amortisation expense (6.5) (7.6) Finance costs (2.9) (3.2) Fair value gain on financial assets and liabilities - 0.5 Other non-operating expenses (0.6) (1.9) Total expenses (114.2) (105.4) Profit before income tax 0.9 13.8 Income tax expense (3.1) (4.3) Net profit/(loss) for the half year from continuing operations (4.0) 9.5 1H26 Management profit and loss: Statutory accounts to managements underlying profit and loss 1H26 reconciliation A$'m Statutory One-offs Underlying Revenue from contracts with customers 78.8 0.6 79.4 Interest income 29.0 - 29.0 Total revenue 107.8 0.6 108.4 Selling costs (29.0) 1.6 (27.4) Gross profit 78.9 2.2 81.1 Other income - - - Employee expenses (37.7) 5.8 (31.9) Professional fees (5.4) 1.1 (4.3) Information technology costs (9.6) 1.2 (8.4) Impairment loss on trade receivables (0.4) - (0.4) Other operating expenses (11.6) 3.5 (8.1) Total overheads (64.6) 11.6 (53.1) EBITDA 14.2 13.8 28.0 A A A For personal use only
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Analyst briefing data: one off adjustments. 27 One off adjustments – 1H26 and 1H25 A$ 'm 1H26 1H25 Restructuring costs and strategy establishment 7.9 3.4 Risk management improvements and class action1 costs 1.4 2.4 Single Global Platform investment (Arlo) 4.5 0.3 PCSIL Separation and technology related costs - 0.1 Total 13.8 6.2 1. Subject to Court approval For personal use only
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Analyst briefing data: stored value. Notes: 1. Total Stored Value (including bonds) per Note A2 of the Interim Report. 2. Interest revenue is based on continuing operations. 3. Annualised Interest (%) calculation is based on continuing operations and represents the interest earned on the average stored value thr oughout the financial year, excluding customer float which generates no interest revenue for EML . 28 Stored float and cash summary A$ 'm 1H26 1H25 Total Stored Value (including bonds) - AUD1 2,640.7 2,507.2 Interest revenue2 29.0 32.8 Annualised Interest Rate (%)3 3.1% 3.7% Cash opening 59.3 43.1 Operating activities (33.2) 4.6 Investing activities (4.4) 41.4 Financing activities (incl. FX) (26.1) (38.5) Cash closing 47.8 50.6 Stored Value by Currency A$ 'm 1H26 1H25 Total Stored Value (including bonds) - AUD1 2,640.7 2,507.2 Stored Value - GBP 1,099.1 1,111.7 Stored Value - EUR 695.3 602.2 Stored Value - USD 83.5 103.1 Stored Value - AUD 593.7 542.8 Stored Value - CAD 7.8 8.5 Stored Value - Other 161.4 139.0 For personal use only
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Balance sheet. 29 Notes: 1 The Balance Sheet consolidated both current and non -current assets as well as combining the following: Total assets – Trade and other receivables, Other assets, Current tax receivables, Equity Investments, Property Plant and Equipm ent and Deferred tax assets into Other Assets Total liabilities – Current tax payable and Other liabilities into Other liabilities. Net debt position A$ 'm Dec-25 Jun-25 Change % Cash and cash equivalents 47.8 59.3 (19%) Borrowings (78.7) (54.1) 45% Net cash / (debt) position (30.9) 5.2 <(100%) Balance sheet1 $A'm Dec-25 Jun-25 Change Cardholder funds Corporate Balances Cash and cash equivalents 47.8 59.3 (19%) 47.8 Contract assets 49.3 46.9 5% 49.3 Intangibles 109.1 113.5 (4%) 109.1 Segregated funds and bonds investments 2,666.6 2,375.2 12% 2,640.7 25.8 Other assets 76.3 87.4 (13%) 76.3 Total Assets 2,949.2 2,682.4 10% 2,640.7 308.5 Trade and other payables (62.8) (70.7) 12% (62.8) Borrowings (78.7) (54.1) (61%) (78.7) Provisions (17.1) (46.4) 72% (17.1) Liabilities to stored value account holders (2,640.7) (2,351.1) (12%) (2,640.7) - Other liabilities (2.2) (13.7) 42% (2.2) Total Liabilities (2,801.5) (2,535.9) (10%) (2,640.7) (160.8) Total Equity 147.7 146.4 1% - 147.7 For personal use only
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Glossary. Abbreviation Meaning AASB Australian Accounting Standards Board AFSL Australian Financial Services Licence Arlo Single Global Platform investment D&A Depreciation and Amortisation DP Digital Payments EBITDA Earnings Before Interest, Taxes, Depreciation and Amortisation. EBITDA is equivalent to the net profit/(loss) for the period including R&D tax offset and excluding share-based payments, depreciation and amortisation expense, gains and losses on disposal of assets and unrealised foreign exchange included within the Statement of Profit or Loss and Other Comprehensive Income. EML EML Payments Limiited, head entity for the EML Group GDV Gross Debit Volume GP Gross Profit GP Margin Gross Profit Margin Abbreviation Meaning GPR General Purpose Reloadable Interpath PCSIL Liquidator MVP Minimum Viable Product NPP New Payments Platform PCP Prior Comparative Period PCSIL PFS Card Services Ireland Limited VANs Virtual Account Numbers Yield Revenue Yield FY25 Financial Year Ending 30 June 2025 FY26 Financial Year Ending 30 June 2026 1H25 Six months ending 31 December 2024 1H26 Six months ending 31 December 2025 30 For personal use only