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17 February 2026 2026 Half Year Result. Boldly backing business. For personal use only
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CEO Update. Chris Bayliss Chief Executive Officer & Managing Director 1H26 Result Presentation2 For personal use only
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$13.4bn lending Australia’s fastest growing business lender1 Ten years since we began. $10.9bn deposits Australia’s fastest growing domestic deposit franchise2 171 bankers 32 locations Established national footprint3 +52 NPS in lending Highest lending NPS in the sector4 Best-in-class technology Re-platforming completed, ready to scale ~18% 3-year EPS CAGR5 Fastest earnings growth of all listed ADIs6 2016 Pre-ADI launch 2018 First loan written 2019 Full banking licence 2020 Scaling during COVID-19 2021 Initial public offering 2022 Achieved profitability 2023 Entered agri banking 2024 Repaid the TFF 2025 Strategic re-platforming completed 2026+ Operating leverage emerging Clear pathway to sector-leading CTI and ROE 3 1H26 Result Presentation 1. APRA ADI monthly statistics, Loans to non-financial business growth from Dec-20 to Dec-25 2. APRA ADI monthly statistics, Total residents deposits growth from Dec-20 to Dec-25 3. As at 13 February 2026 4. Lending NPS is the overall lifecycle NPS reflecting average of ‘onboard’, ‘relationship’ and ‘exit’ stages 5. 3-year CAGR to Dec-25 6. Listed ADIs statutory basic EPS CAGR from FY23-FY25 For personal use only
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Service profit chain. 4 1H26 Result Presentation Targeting ROE in the low-to-mid teens at scale 1. 12-month rolling average of JEDI (Judo Employee Delight Index) to Dec -25. Judo measures energy, mood and commitment of staff wee kly 2. Lending NPS is the overall lifecycle NPS reflecting average of ‘onboard’, ‘relationship’ and ‘exit’ stages 3. Deposit NPS is the overall lifecycle NPS reflecting ‘origination’, ‘maturity’ and ‘rollover’ stages JEDI Employee Engagement1 72 Jun-25: 71 From Dec-24 Lending NPS2 +52 Jun-25: +53 Deposit NPS3 +65 Jun-25: +67 GLA growth (yoy) 15% FY25: 16% Deposit growth (yoy) 21% FY25: 20% ROE improvement (yoy) 180bps EPS growth (yoy) 46% From Dec-24 From Dec-24 For personal use only
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1H26 financial highlights. Disciplined strategy execution delivering PBT growth of 26% over the half, and 53% vs pcp Metric Details 1H26 results GLA Continued above-system lending growth1, driven by Judo’s differentiated CVP, growth in all regions and improvement in productivity Positive outlook for 2H26 lending growth $13.4bn NIM Broadly stable vs 2H25; deposit tailwinds resulting in improved 2H26 outlook 3.03% CTI Disciplined investments in growth and productivity 48.5% COR Asset quality performing in line with guidance $40.1m PBT Profit growth of 26% vs 2H25 ($68.9m), and 53% vs 1H25 ($56.7m) $86.5m ROE Significant improvement in ROE, demonstrating operating leverage 6.9% 5 1H26 Result Presentation 1. Reflects Judo’s GLA growth YTD in FY26 as a multiple of system, per APRA ADI statistics. For personal use only
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Our SME lending franchise continues to perform. 6 Above-system growth with sustained market leading NPS and stable margin 1H26 Result Presentation Quarterly GLAs ($bn) Quarterly blended lending margin (%) 8.0 8.9 9.4 9.7 9.8 10.7 11.3 11.6 11.7 12.5 12.9 13.4 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 4,742 Customers Jun-25: 4,621 171 Bankers1 Jun-25: 161 1,682 Accredited brokers Jun-25: 1,563 +52 NPS Jun-25: +53 4.1 4.0 3.9 4.0 4.1 4.1 4.2 4.3 4.3 4.3 4.3 4.3 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 1. As at 13 February 2026 2. Reflects Judo’s GLA growth as a multiple of system, per APRA ADI statistics. For personal use only
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Strong lending momentum. 7 Upgrade to Jun-26 GLA guidance driven by improving productivity more than offsetting attrition 1H26 Result Presentation Quarterly gross originations ($bn) 0.9 1.6 1.3 1.5 Mar-25 Jun-25 Sep-25 Dec-25 Quarterly attrition (%, annualised) 8% 8% 8% 8% 5% 5% 6% 9% 16% 13% 13% 16% 29% 26% 27% 33% Mar-25 Jun-25 Sep-25 Dec-25 Loan amortisation Discretionary paydowns External refinances Strong 1H26 net lending growth • Strong gross originations continued, driven by Judo’s differentiated CVP, improving productivity and growth in banker numbers • Growth achieved in all regions; strong momentum in agri lending and warehouse financing • Productivity benefits supported by banker enablement initiatives • Front book lending margins at 4.3%; blended margin stable • 1H26 attrition largely driven by non-regrettable losses, including some well-flagged risk-related exits Positive outlook for 2H26 net lending growth • Jun-26 GLA of $14.4bn - $14.7bn (previous: $14.2bn - $14.7bn) • Dec-25 AAA pipeline of $1.7bn, mid-400bps margin • Attrition expected to be in high 20%s over 2H26 • Productivity gains driving strong originations and total net growth For personal use only
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Credit quality performing in-line with expectations. Economic outlook has improved; arrears lag the economic cycle • Dec-25 90+DPD and impaired of 2.66%, up modestly driven by a small number of exposures across a range of sectors • 90+DPD and impaired assets trends remain below at- scale thesis of 330bps of GLA • Overall portfolio credit profile is improving • No change to at-scale cost-of-risk assumption of 50bps of average GLA Movement in 90+ DPD and Impaired Assets2 ($m) 1H26 Result Presentation8 1. Excluding non-performing and distressed exposures 2. Jun-25 and Dec-25 figures exclude customer groups subject to legal repayment commitments, with settlement expected shortly after the balance dates Average portfolio probability of default1 2.25% 2.18% 2.18% 2.12% 2.06% Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 58.7 61.5 128.4 117.8 159.8 -55.8 -42.6 -111.9 -115.1 -109.5 2.30% 2.46% 2.43% 2.37% 2.66% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% (150.0) (100.0) (50.0) - 50.0 100.0 150.0 200.0 250.0 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Additions Resolutions 90DPD & Impaired ratio ~3.30% Judo’s 90+ DPD and impaired equivalent to 50bps COR 90+DPD & impaired ratio For personal use only
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CFO Update. Andrew Leslie Chief Financial Officer 1H26 Result Presentation9 For personal use only
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1H26 result. Profit or Loss Statement ($m) 1H26 2H25 Change Income 245.7 222.0 11% Operating Expenses (119.1) (106.4) 12% Profit Before Impairment 126.6 115.6 10% Impairment Expense (40.1) (46.7) (14%) Profit Before Tax 86.5 68.9 26% NPAT 59.9 45.5 32% Key Operating Metrics 1H26 2H25 Change GLA ($m) 13,394 12,465 7% NIM (%) 3.03% 3.04% (1bp) CTI (%) 48.5% 47.9% 60bps Provision Coverage (% of GLA) 1.43% 1.49% (6bps) 90+ DPD & Impaired (% of GLA) 2.66% 2.43% 23bps EPS (cents) 5.4 4.1 32% ROE (%, annualised) 6.9% 5.5% 140bps 10 1H26 Result Presentation For personal use only
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3.04% (0.03%) 0.01% (0.02%) (0.04%) 0.07% 3.03% NIM- 2H25 Cost of Deposits Other Cost of Funding Lending Margins Equity component of funding Treasury /Other NIM- 1H26 1H26 Result Presentation NIM – 1H26 vs 2H25. 1. Other cost of funding reflects mix in Judo’s deposit, equity and wholesale funding activity including warehouses, senior unse cured and T2 funding 2. Treasury / Other captures the impact of balance sheet changes , e.g. differences in regulatory liquidity position between the periods 2H26 NIM guidance upgraded to ~3.15% due to improved TD pricing 11 Impact of higher-cost deposits originated in 2H25 Improved funding mix and pricing 2H25 to 1H26 NIM movement (%) 4Q25 front book margin and changes in mix Falling RBA cash rate partially offset by ITOC Reinvestment of maturing low-yield fixed-rate bonds 2 2H26 expectations • 2H26 NIM guidance upgraded to ~3.15%, from ~3.1% • Continued improvement in funding cost and mix • Balancing lending and funding to achieve overall NIM outcome • Neutral impact from treasury activities 1 For personal use only
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12 New term deposit margin improved in 1H26 1H26 Result Presentation • Strong deposit growth supporting lending momentum, balanced with wholesale flexibility • TD retail rollover rate continues to improve, now above 70% • 1H26 blended deposit margin reflected impacts of TDs originated in 2H25 • Pricing of new TDs improved to 78bps in 1H26 − Supported by stabilisation in swap curves − New TD tenors and platform flexibility enabling strategic pricing − Benefits to be realised in 2H26 • Through-the-cycle TD margins expected to be in the 80–90bps range Strong momentum in deposit franchise. TD retail rollover rate (%) Judo’s indicative hedged 1-year new TD margin (daily)2 Long-term expectation 80-90bps 86 99 7885 87 92 1H25 2H25 1H26 New deposit margin Blended deposit margin Deposit margins1 (bps) 0.3% 0.5% 0.7% 0.9% 1.1% 1.3% 1.5% 1. Margins over 1-month BBSW. Blended deposit margin reflects the total deposit book (including savings products from 1H26); new deposit margin reflects term deposits originated in-period 2. Hedged TD margin reflects headline rate minus 1-year swap rate and additional basis to swap back to 1-month 65% 69% 70% 70% 73% 1H24 2H24 1H25 2H25 1H26 For personal use only
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Diversified funding underpins continued scaling. Deposits remain the cornerstone of scaling the Bank Judo’s funding stack (%) 13 1H26 Result Presentation • TD balances approaching $11bn, 69% of total funding • At-call savings product expansion on track − Intermediated savings account (ISA) launched in Oct-25 − Direct online savings account (DOSA) on track for Q3 launch • Wholesale funding providing diversification − Full range of wholesale instruments, excluding covered bonds − $150m Tier 2 issue completed in Oct-25; 120bps pricing improvement vs previous issuance − Issuer credit rating of BBB Stable outlook from S&P 52% 66% 69% ~75% 19% 23% 20% ~15%18% 11% 11% 10% ~10% Dec-23 Dec-24 Dec-25 At-Scale Deposits Wholesale (ex TFF) TFF Equity For personal use only
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Operating expenses. Operating expenses ($m) and CTI (%) 1H26 drivers • Employee benefits expenses driven by: – Wage inflation including higher super guarantee charges – Continued recruitment of relationship bankers – Normalising incentive accruals and payroll tax on incentives – 2H25 costs impacted by volatile items • Slight increase in IT expense, intangibles amortisation and other expenses 2H26 to demonstrate operating leverage • FY26 CTI < 50%; CTI to improve in 2H26 vs 1H26 (%) • FTE to increase, with investment in roles supporting lending growth and deposits • IT expense, intangibles amortisation and other expenses to be broadly stable vs 1H26 1H26 Result Presentation14 Dec-24 Jun-25 Dec-25 Relationship bankers (#)1 159 161 167 Total FTE (#) 548 557 566 Average FTE (#) 544 552 563 71.0 61.8 71.8 22.9 25.0 25.5 21.5 19.6 21.8 115.4 106.4 119.1 57.4% 47.9% 48.5% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% 55.0% 60.0% 0.0 50.0 100.0 150.0 200.0 1H25 2H25 1H26 Employee benefits expense IT expense & intangibles amortisation Other expenses CTI % 1. Relationship banker number was 171 as at 13 February 2026 For personal use only
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Impairment expense and provisioning. 28.8 46.7 40.1 51bps 79bps 62bps -50 -30 -10 10 30 50 70 3 13 23 33 43 53 1H25 2H25 1H26 Cost of risk ($m) Cost of risk/Average GLA (bps) Impairment expense ($m) • 1H26 COR at 62bps of average GLA, consistent with guidance • Lower 1H26 impairment expense driven by a slowdown in the rate of new impaired loans • New impaired loans mainly in vulnerable sectors Prudent provisioning ($m) 40.6 67.8 72.7 113.0 112.0 110.2 6.0 6.0 9.2 1.02% 0.95% 0.89% -3.00% -2.50% -2.00% -1.50% -1.00% -0.50% 0.00% 0.50% 1.00% 1.50% 0 50 100 150 200 250 Dec-24 Jun-25 Dec-25 Overlays Underlying collective provision Specific provision - individually assessed Collective provision coverage (% GLA) 192.1 159.6 • Collective provision reflects lending growth, proactive portfolio management and continuing improvement in the macro environment • Increased overlay reflects challenging conditions in construction services and manufacturing, including some associated sectors • Higher specific provisions due to new impaired loans 185.8 1H26 Result Presentation15 For personal use only
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Capital. • Strong Dec-25 CET1 ratio at 12.6% • Improving profitability continues to support capital position • No plans to issue additional core equity to achieve target at-scale loan book • Multiple options available to support capital efficient growth: – Given continued strong market conditions, we are actively assessing private structures (e.g. securitisation, loan sales) 2H25 to 1H26 CET1 movement (%) 2H25 to 1H26 Total Capital movement (%) Judo remains well capitalised 1H26 Result Presentation16 13.1% (0.9%) (0.1%) (0.1%) 0.5% 0.1% 12.6% Jun-25 Loan growth and other RWAs Operational risk RWAs Risk weight on lending 1H26 NPAT Other items Dec-25 16.5% (1.1%) (0.2%) (0.2%) 0.5% 1.3% 0.1% 16.9% Jun-25 Loan growth and other RWAs Operational risk RWAs Risk weight on lending 1H26 NPAT Tier 2 Capital Other items Dec-25 For personal use only
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Conclusion and Outlook. Chris Bayliss Chief Executive Officer & Managing Director 1H26 Result Presentation17 For personal use only
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Judo strategy. Our vision Our aspiration Strategic priorities Enabled by To be a world-class SME business bank Achieve sector leading profitability The pre-eminent employer for SME bankers Preferred partner for commercial brokers Sector leading customer NPS Targeting ROE in the low-to-mid teens at scale ENHANCE OUR CORE BUSINESS GROW OUR TAM OPTIMISE FUNDING, CAPITAL & COSTS CREATE NEW AVENUES FOR GROWTH Best of Breed Technology Disciplined Risk Management High Performing People & Culture Become a true scale challenger bank 18 For personal use only
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Unlocking growth opportunities. 19 Clear growth levers supported by disciplined execution, solely focused on our differentiated CVP 1H26 Result Presentation Disciplined, targeted growth • Strong SME credit demand across all regions • Scale warehouse lending business Banker enablement driving productivity • Continued investment in our CVP – Faster, Smarter, Stronger • Early productivity and customer experience benefits emerging Strategic partnership with commercial brokers • Launched Broker Black Belt with top commercial brokers • Meaningful 1H26 uplift: AAA pipeline +30% • Expansion underway as more brokers qualify Strengthen SME lending franchise Diversifying funding sources & lowering funding costs • Scale Intermediated savings account • Launch Direct online savings account • Ongoing optimisation of wholesale funding and treasury • Actively assessing private funding structures (e.g. securitisation, loan sales) Productivity • Unlocking capacity with tech and data, AI, and process improvement, leveraging our modern, best- in-breed, platforms Optimise funding, capital & costs For personal use only
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20 1H26 Result Presentation 1H26 progress 2H26 priorities • New portfolio reporting for bankers • Enhanced customer-group reporting • Predictive analytics leveraging Judo- built machine learning models • New automated financial alerts for customer and risk management • Improved processing for loan modifications and small increases • Aligned process on lending fees • Faster document execution via Docusign • Streamlined annual review and renewals • Single interface for extracting, organising and analysing data • Enhanced repayment structuring • Further enhancements to banker dashboards • Improve bank guarantee limits • Enable external APIs for data ingestion Banker enablement driving productivity. Focusing on the delivery of Judo’s CVP Stronger Relationship-led Smarter Judgement Faster Speed • Updates to lending delegation framework • Enhanced collateral calculations For personal use only
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SME trading conditions are favourable. • Private sector activity and business conditions improved over 1H26 • Business credit demand remains robust • Capacity constraints across the economy are continuing to incentivise SME investment in productivity Annual growth in non-financial business credit (%)1 1H26 Result Presentation21 1. Seasonally adjusted. Source: RBA Statistical Tables D2 2. ABS, Australian National Accounts: Finance and Wealth (Debt to equity ratio, adjusted for price changes, September 2005 base) -5 0 5 10 15 2011 2013 2015 2017 2019 2021 2023 2025 Long-term average 6% 30 40 50 60 70 80 2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 Private company leverage (Debt/Equity ratio, %)2 One 25bps increase to RBA cash rate in = ~$3.5m impact to 2H26 NII For personal use only
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FY26 guidance. Metric Detail FY26 Guidance Metrics-at-scale1 GLA Strong lending growth to continue, supported by investments in growth initiatives, productivity and ongoing penetration into regional and agribusiness lending $14.4bn – $14.7bn $15bn – $20bn NIM FY26 NIM expected to be at the upper end of 3.00% – 3.10% 2H26 NIM of ~3.15%, benefitting from improved funding costs Upper end of 3.00% – 3.10% >3% CTI CTI to improve in 2H26 vs 1H26 <50% Approaching 30% COR Continued growth and seasoning of the portfolio and assuming continuation of current macroeconomic conditions 60bps – 65bps of average GLA 50bps of GLA PBT / ROE Continue to demonstrate operating leverage; PBT benefiting from investment in productivity, product enhancements and balance sheet optimisation $180m – $190m Low to mid-teens ROE Momentum in operating leverage to continue 1H26 Result Presentation22 1. At-scale COR is a proxy for annualised write-offs / average GLA and assumes a steady-state lending portfolio including AASB 9 provision staging. For personal use only
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Operating leverage trajectory to continue. Clear progress towards low-to-mid teens ROE PBT1 ($m) • Proven track record, consistent execution • Strong financial performance delivered in 1H26 • Multiple levers for growth, strengthening the lending franchise while continuing to optimise the Bank • Exploring options to optimise funding and capital, to support growth and further penetrate our TAM • Clear evidence of operating leverage emerging • Experienced executive team and engaged workforce, supporting progress towards metrics-at-scale 23 1H26 Result Presentation 42.7 56.7 68.9 86.5 2H24 1H25 2H25 1H26 2H26 1. Excluding non-recurring costs related to CEO transition and organisational restructuring in 2H24 2. See slide 22 for FY26 guidance Implied 2H26 PBT Guidance2: $93.5m – $103.5m For personal use only
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Questions. 1H26 Result Presentation24 For personal use only
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Appendix. 1H26 Result Presentation25 For personal use only
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Loan book characteristics. 95% 5% Floating Fixed 72% 28% Third-party originated Direct originated 64% 36% Interest Only Principal & Interest 52%33% 15% Fully secured Partially secured Balance sheet secured Judo’s loan book over time ($bn) 1H26 Result Presentation26 1.8 2.6 3.5 4.8 6.1 7.5 8.9 9.7 10.7 11.6 12.5 13.4 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25 Business loans Equipment loans Home loans Line of credit Warehouse lending Dec-23 Jun-24 Dec-24 Jun-25 Dec-25 Applications, accepted, approved pipeline (AAA) ($bn) 1.0 1.8 1.1 1.9 1.7 AAA lending pipeline ($bn)For personal use only
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Warehouse lending. 27 1H26 Result Presentation • Tailored warehouse facilities provided to non-bank financial institution (NBFI) lenders • Strong unmet credit demand in the emerging NBFI transaction space, outside the typical focus of established providers • Exposure to diversified products and customers through range of exposures and significant structural credit protection • Judo’s competitive advantage: • Relationship-led CVP with direct access to decision-makers • Judo’s underwriting capabilities allow informed assessment of loans originated by the NBFI lenders • Leveraging insights and expertise from Judo’s own warehouse funding experience • ROE accretive opportunity • Higher ROE than business lending • Lower RWA intensity compared to direct business lending (warehouse facilities typically attract risk weights of <50%) • Gross lending margins marginally lower than business lending • 1H26 progress • Warehouse lending now 2% of GLA across seven customers, within one year of launch • Lending to existing customer cohort will continue to increase, as current balances remain below facility limits • Strong and growing pipeline of opportunities For personal use only
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Security: 85% of Judo’s credit exposure is fully or partially secured. 15% is secured by balance sheet security. Fully secured: The exposure is less than or equal to 100% of the Judo Extended Value (JEV), which is a discount to the market value of the u nderlying security. Partially secured: The exposure is greater than 100% of the JEV but less than 150%. Balance sheet secured: The exposure is greater than 150% of the JEV and/or no real property mortgage is pledged. Other forms of collateral types suc h as General Security Agreements (GSAs) and Specific Security Arrangements (SSAs) are normally held. 1. Includes customer groups with multiple borrowing entities operating in different industry sectors . As at 31 December 2025, there are 173 unique customers groups in total (June 2025: 150) 2. Jun-25 and Dec-25 figures exclude customer groups subject to legal repayment commitments, with settlement expected shortly after the balance dates Credit quality key metrics. Sectors Gross Loans and Advances ($M) % of Gross Loans and Advances % of Fully / Partially Secured % 90+DPD and Impaired2 Customer groups 90+DPD and Impaired2 Jun-25 Dec-25 Jun-25 Dec-25 Jun-25 Dec-25 Jun-25 Dec-25 Jun-25 Dec-25 Rental, hiring and real estate services 3,086 3,223 25% 24% 95% 95% 1.31% 1.91% 19 20 Property Operators 2,544 2,676 21% 20% 100% 99% 1.17% 2.06% 14 16 Other Rental, Hiring & Real Estate Services 542 547 4% 4% 80% 73% 1.93% 1.16% 5 4 Accommodation and food services 1,518 1,663 12% 12% 85% 86% 2.36% 1.72% 25 21 Agriculture, Forestry & Fishing 894 1,038 7% 8% 98% 98% 2.80% 2.31% 4 9 Construction 921 991 7% 7% 89% 90% 1.89% 2.11% 14 15 Retail Trade 672 740 5% 6% 68% 69% 5.57% 3.65% 23 19 Non-Discretionary Retail 302 338 2% 3% 74% 79% 1.84% 1.69% 9 9 Discretionary Retail 370 402 3% 3% 64% 61% 8.61% 5.31% 14 10 Manufacturing 774 714 6% 5% 82% 81% 7.84% 4.89% 21 23 Transport, postal and warehousing 283 275 2% 2% 81% 81% 1.63% 3.82% 7 9 Other (Including home loans) 4,317 4,750 36% 36% 78% 78% 1.91% 2.94% 61 73 Total Portfolio 12,465 13,394 100% 100% 85% 85% 2.43% 2.66% 1741 1891 1H26 Result Presentation28 For personal use only
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Key asset quality ratios over time. Non-performing loans / GLA (%)1 90+ DPD and impaired assets 1H26 Result Presentation29 1. Jun-25 and Dec-25 figures exclude customer groups subject to legal repayment commitments, with settlement expected shortly after the balance dates 1.60% 1.10% 1.03% 1.07% 1.15% 0.95% 1.06% 1.25% 0.97% 1.21% 1.31% 1.23% 1.31% 1.48% 1.31% 1.41% 0.35% 0.39% 0.51% 0.60% 0.94% 0.71% 0.72% 0.75%0.01% 0.02% 0.01% 0.04% 0.03% 0.01% 2.93% 2.72% 2.85% 2.90% 3.41% 3.18% 3.12% 3.44% Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Loans 90 DPD but not impaired Gross impaired assets Default < 90 DPD but not impaired Loans in hardship For personal use only
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Judo’s hedging profile. Lower interest rate risk through hedging. Reduced NIM volatility with ITOC Judo’s hedging profile as at Dec-25 ($m) Judo’s ITOC portfolio (%) 1H26 Result Presentation30 As at 31 Dec 2025, Judo had an ITOC tenor of 3 years with $1.5bn of capital hedged (total equity of $1.7bn) -15,000 -10,000 -5,000 - 5,000 10,000 15,000 0 to 1 month >1 up to 3 months >3 up to 6 months >6 up to 12 months >1 up to 2 years >2 up to 3 years >3 up to 4 years 4 years+ Assets Liabilities Derivatives Net 3.0% 3.2% 3.4% 3.6% 3.8% 4.0% 4.2% 4.4% 4.6% RBA Cash Rate 3-year swap rate Judo Bank ITOC Rate For personal use only
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Glossary. 1H26 Result Presentation31 $ Dollar amounts, in Australian dollars unless stated otherwise AAA pipeline Loans in application, approved and accepted status, but not yet settled APRA Australian Prudential Regulation Authority BBSW Bank Bill Swap Rate bps Basis points CET1 Common Equity Tier 1 capital as defined by APRA CET1 ratio CET1 / total risk-weighted assets (RWA) COR Cost of risk CTI ratio Cost-to-income ratio = Total operating expenses / net banking income ECL Expected credit losses FTE Full-time equivalent FY Financial year ending 30 June GLA Gross loans and advances ITOC Investment Term of Capital, which is a hedge against equity funding to lower interest rate risk JEDI Judo Employee Delight Index, measuring energy, mood and commitment of Judo staff weekly Judo Extended Value (JEV) Judo Extended Value is the market value of the asset less a deduction for possible deterioration over time or at recovery, and is set internally for each allowable asset type NII Net interest income NIM Net interest income (NII) / average month-end closing balance of interest-earning assets n.m. Not meaningful NPAT Net profit after tax NPS Net promoter score PBT Profit before tax RBA Reserve Bank of Australia ROE Return on equity RWA Risk-weighted assets SME Small and medium enterprise TAM Total addressable market TFF Term Funding Facility TD Term deposit Warehouse facility A revolving credit facility extended by a financial institution to a loan originator for the funding of loans YoY Year on year For personal use only
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Important information. This presentation is provided by Judo Capital Holdings Limited ABN 71 612 862 727 and its controlled entities (variously, "Judo", “us”, “we” or “our”) and is current at 17 February 2026. It is information given in summary form only and does not purport to be complete. It does not constitute personal, legal, investment, taxation, accounting or financial product advice, has been prepared as general information only, and does not take into account your personal circumstances, investment objectives, financial situation, tax position or particular needs. Having regard to those matters, please consider the appropriateness of the information before acting on it and seek professional advice. No information herein constitutes an offer, solicitation or invitation to apply for securities, or any other financial product or service, or to engage in any investment activity, in any place in which, or to any person to whom, it would be unlawful to make such an offer, solicitation or invitation. This presentation contains statements that are, or may be deemed to be, forward-looking statements. To the extent the information may constitute forward-looking statements, it reflects Judo’s intent, belief or current expectations at the above date. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, assumptions and uncertainties, many of which are beyond Judo’s control, which may cause actual results to differ materially from those expressed or implied. Undue reliance should not be placed on any forward-looking statement and, other than as required by law, Judo does not give any representation, assurance or guarantee that the occurrence of the events, results and outcomes expressed or implied in any forward-looking statement will actually occur. Subject to any continuing obligations under applicable law, we expressly disclaim any obligation to provide any updates or revisions to any forward-looking statements in this presentation to reflect events or circumstances after the above date. There are a number of other important factors that could cause actual results to differ materially from those set out in this presentation. This presentation includes “non-IFRS financial information” under ASIC Regulatory Guide 230. We consider this information provides a useful means to understand our performance, however, such information does not have a standardised meaning under the Australian Accounting Standards or International Financial Reporting Standards. Undue reliance should not be placed on it. No representation, warranty or undertaking, express or implied, is made and no responsibility is accepted by Judo as to the accuracy, currency or completeness of any part of this presentation. All amounts are in Australian dollars. Past performance information given in this presentation is for illustrative purposes only and should not be relied upon as, and is not, indicative of future performance. Authorised for release by the Judo Board. 1H26 Result Presentation32 For personal use only