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eclipx GROUP Level 6 , 601 Pacific Highway St Leonards NSW 2065 W www.eclipx.com Eclipx Group Limited ABN : 85 131 557 901 6 May 2021 ASX Release Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 ECLIPX GROUP REPORTS 1H21 RESULTS AND ANNOUNCES APPOINTMENT OF NEW CHAIR Eclipx Group Limited ( ASX : ECX , " Eclipx " or " Group " ) today releases its results for the six months ended 31 March 2021 and announces the succession of the Group's Chair . Highlights for the six months ended 31 March 2021 ( " 1H21 " ) • Net operating income ( " NOI " ) of $ 105.9 million , up 22 % compared to prior comparative period , 1H20 ( " pcp " ) • • • . • Earnings before Interest , Tax , Depreciation & Amortisation ( " EBITDA " ) of $ 66.5 million , representing a like for like growth rate of 43 % compared to pcp Net Profit After Tax & Amortisation ( " NPATA ” ) of $ 39.3 million , a 77 % increase compared to pcp New Business Writings ( " NBW " ) increased 11 % half on half Despite a record sales order pipeline , NBW is expected to continue to be constrained by global new vehicle supply shortages Assets under Management or Financed ( " AUMOF " ) reduced by 7 % compared to pcp , reflecting the lower NBW since the emergence of COVID - 19 and a 79 % increase in lease extensions versus pcp . Margin expansion has offset the reduction in assets in the period , with NOI before Provisions and pre - End of Lease income ( " EOL " ) being flat Cash conversion of 157 % reflecting strong organic capital generation Net corporate debt down c.62 % to $ 54 million ( $ 144 million in 1H20 ) , with net debt to EBITDA ratio reduced to 0.49x ( 2.01x in 1H20 ) Capital management - up to $ 20m on - market share buy - back in 2H21 • Most efficient form of capital distribution to shareholders , in the absence of distributable franking credits Strategic Pathways • Positive momentum and strong order book across all three target markets • Projects remain on track with digital platforms in roll - out or testing , and distribution channel partners expanding Post Simplification , consolidation options remain under review , but subject to price and internal return hurdles Chair Succession • Gail Pemberton to succeed Kerry Roxburgh as the Group's Chair