Slides
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FY25 Results Presentation For the year ended 31 December 2025 LATITUDE GROUP HOLDINGS LIMITED ABN 83 604 757 391 For personal use only
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Important Notice & Disclaimers Important Notice and Disclaimer This presentation has been prepared by Latitude Group Holdings Limited (“ LFS”). The distribution of this presentation in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions. Not an offer, advice or recommendation This presentation is for information purposes only and should not be read or understood as an offer, invitation, or recommend ation to subscribe, buy or sell LFS shares or any other financial products in any jurisdiction. This presentation contains general information about LFS and its subsidiaries only in summary form and does not purport to be complete nor is it intende d to be relied upon as advice to investors or potential investors. Investors should make their own independent assessment of the information in this presentation having regard to their own investment objectives, financial situation and needs and w ith their own professional advice. This presentation should be read in conjunction with any verbal presentation delivered on the date of this presentation toget her with LFS’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange or released on our website www.latitudefinancial.com.au. No representation or warranty as to accuracy No representation or warranty, express or implied, is made by LFS or any of its related bodies corporate or their respective directors, officers, employees, or agents, (together, the “ LFS Parties”) as to the fairness, accuracy, reliability, correctness or completeness of any information, opinions or conclusions in this presentation or as to the accuracy, likelihood of achievemen t or reasonableness of any forecasts, prospects or returns (or any event or results expressed or implied in any forward looking statement) contained in, or implied by, the information in this presentation. Past performance should not be relied upon (and is not) an indication of future performance. Forward-Looking Statements This presentation contains statements that are, or may be deemed to be, forward -looking statements. These forward-looking statements may be identified by the use of forward-looking terminology such as “may”, “could”, “should”, “plan”, “anticipate” and/or other similar expressions. Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice and involve known and unknown risks, uncertainties, assumptions, contingencies and other factors, many of which are beyond the control of the LFS Parties. Investors are strongly cautioned not to place undue reliance on forward -looking statements. Actual results, performance or achievements may vary materially from those expressed or implied by any forward -looking statements and any projections and assumptions on which these statements are based. General Disclaimer To the maximum extent permitted by law, the LFS Parties exclude and expressly disclaim all liability and responsibility (incl uding, without limitation, any liability arising from fault, negligence or negligent misstatement) for any losses, damages, expenses or costs (whether foreseeable or not) incurred by you as a result of the information in or omitted from, this presen tation. Certain information used in this presentation may have been obtained from third parties, including industry or general public ations that has not been independently verified. General In this Presentation references to ‘LFS’, ‘we’, ‘us’ and ‘our’ are to Latitude Group Holdings Limited and (where applicable) its controlled subsidiaries. All amounts are in Australian dollars unless otherwise indicated. Statements made in this presentation are made only as at the date of this presentation. The information in this Presentation remains subject to change without notice. For personal use only
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Agenda Full Year 2025 Highlights1 Financial Performance2 Management Outlook3 For personal use only
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Full Year 2025 Highlights Bob Belan – Managing Director & CEO For personal use only
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Full Year 2025 Snapshot – Key Business Drivers YoY ↑16% YoY ↑8% 3 YoY ↑104bps YoY ↑25bps 307k $5.4b $7.2b 11.7% 1.60% Strong customer demand and product engagement driving asset growth at higher margins New Customer Accounts YoY ↑11% $1.6b New Personal & Auto Loan Origination $7.4b Total Card Purchase Volume ($) Total Card Transactions (#) Interest Bearing Receivables Total Receivables Net Interest Margin % Credit Performance (90+ dpd) 59m 5 Personal Loans receivables hits new record high - #2 in AU 1 & Cards share growing and outpacing market growth - up 24bps YoY in AU 2 (1) Based on receivables share by Brand (2) Source: Company data, APRA as at Dec 25 (3) Interest Bearing Receivables have been re-presented to reflect a minor classification refinement between IB and IF, with no impa ct to total Gross Loan Receivables ~$21m Reallocated To Growth Investments AI & Cyber Security New Products New Partners New Capability & Simplification Market Share Growth Accelerating HoH ↑10% Note: YoY = FY25 vs. FY24; HoH = 2H25 vs. 1H25 YoY ↑10% HoH ↑14% HoH ↑8% HoH ↑3% YoY ↑7% HoH ↑4% HoH ↑13bps HoH ↓1bps YoY ↑10% HoH ↑11% For personal use only
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YoY ↑11%/45bps YoY ↑18%/104bps YoY ↑15%/78bps YoY ↑11%/27bps YoY ↓3% 2 YoY ↓802bps 1 YoY ↑36% YoY ↑59% $1.2b 17.2% $814m 11.7% $839m 12.1% $105m$362m 733 FTE 43.1% $211m $573m 8.3% Funding Raised $3 billion Jaws Ratio +15% YoY Revenue momentum and operating leverage translating into strong financial outcomes Full Year 2025 Snapshot– Key Financial Metrics Interest Income Net Interest Income Total Operating Income Risk Adjusted Income Cash Operating Expense Cash Cost-to-Income Ratio (CTI) Cash Profit Before Tax Cash Net Profit After Tax Continued to expand in public ABS markets Further spread tightened in 2H25 Tactically extended durations 6 Improved operating efficiency Margin expansion Sustainable profitable growth Note: YoY = FY25 vs. FY24; HoH = 2H25 vs. 1H25 HoH ↑2%/↓37bps HoH ↑5%/13bps HoH ↑6%/19bps HoH ↑6%/18bps HoH ↓3% HoH ↓396bps HoH ↑26% HoH ↑27% (1) FY24 OpEx and cost-to-income (CTI) shown on a normalised basis, adjusted to remove $13m one-off benefit in employee expense due to lower discretionary incentives For personal use only
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2,871 3,022 3,202 3,333 1H24 2H24 1H25 2H25 58% 2.00.7 0.6 502 604 728 747 783 850 1H23 2H23 1H24 2H24 1H25 2H25 Money: Record receivables and expanding margins +8.5% HoH / 13.8% YoY with increase in variable rate loans continuing 7 New Origination Volume ($m) $3.3bn Receivables is a new record high (1) Based on receivables by brand (2) New Business Net Interest Margin is calculated as New Business APR Interest Yield less New Business Interest Expense Yield Pricing optimisation combined with roll-off of older, lower margin vintages APR Interest Yield Net Interest Margin New Business Yield uplift translating into stronger NIM performance Record new origination volumes in 2025 Portfolio New Business 2 Portfolio Receivables growth focused on highest return products Customer demand for variable rate loan product continues Fixed Variable P-Loans AU P-Loans NZ Auto AU 10% YoY growth across all products and maintained #2 brand in Personal Loans in Australia1 2H25 new originations volume of $850m is a new record high for Latitude 48% 47%43% 57% 41% 57% 53% 52% 59% 43% Fixed Variable 69% 66% 42% (↑14%) (↑1%) (↑13%) (YoY%) 31% 34% 54% 46% 14.6% 15.4% 15.9% 16.2% 16.8% 17.7% 17.9% 18.1% 1H24 2H24 1H25 2H25 9.8% 10.3% 10.9% 11.3% 10.7% 11.7% 12.4% 13.0% 1H24 2H24 1H25 2H25 61% 39% ↑23% CAGR Receivables $m For personal use only
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11.8% 12.3% 12.9% FY23 FY24 FY25 Pay: Originations and volume powering growth Applications & New Accounts (#, ‘000s) 1 Applications +14% YoY Enhanced value propositions gaining traction and capturing customer demand Above market growth delivered alongside expanding revenue margins Higher customer engagement driving higher card spend per account, +17% YoY LFS Card usage & purchase volume momentum accelerating Card Purchase Volume per account ($) 1 (1) Data excludes BNPL, which was originated from 2019 to 2023 (2) Source: Company data, APRA and companies’ public disclosures based on receivables as at Dec 25 8 New Accounts Applications Transactor Revolver Pull Through Rate % Operating Income Yield 146 179 208 370 475 540 40% 38% 38% FY23 FY24 FY25 Credit Card AU Market Share2 2,493 2,827 3,309 1,110 1,194 1,399 3,603 4,021 4,708 FY23 FY24 FY25 39% ↑14% CAGR ↑21% CAGR 7.68% 8.67% 8.91% FY23 FY24 FY25 For personal use only
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$346m $373m 1 $362m OpEx re-engineering benefits realised, enabling growth investment and elevating operating leverage Cash cost-to-Income 1 Increase reflects wage inflation and operating growth, balanced with ongoing workforce optimisation Spend reduced through improved campaign efficiency and more targeted allocation Continued disciplined investment in digitalisation, AI & cyber, and growth strategies. 9 Disciplined cost management delivering operating leverage and efficiency Employee Costs 1 ($) Marketing ($) Technology & Investment Spend ($) Expense base re-engineering unlocking capacity strategic and growth investments Cash OpEx ($m) 767 742 733FTE (1) FY24 OpEx and cost-to-income (CTI) shown on a normalised basis, adjusted to remove $13m one-off benefit in employee expense due to lower discretionary incentives 53% 51% 43% FY23 FY24 FY25 136 124 129 FY23 FY24 FY25 27 40 38 FY23 FY24 FY25 88 104 100 FY23 FY24 FY25 • Operating leverage improving with revenue growing faster than expenses • CTI improvement delivered through sustained efficiency initiatives • Management actions continued to offset inflationary pressures and redirect spend toward growth • Cash OpEx down 3% YoY driven by optimisation of strategic investment spend in line with higher operating income Cash CTI ↓~800bps YoY1 For personal use only
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Strengthened Funding Program supporting Balance Sheet Optimisation 37% 43% 20% Australasia UK & EU North America $3.0bn of new funding raised or refinanced ✓ Programmatic ABS shelf with $1.5bn issued in FY25 across 3 public term deals ✓ $1.5bn raised or refinanced across 3 warehouse facilities and 2 VFNs ✓ Secured best-in-class pricing and further improvement in advance rates/flexibility, with reduced spreads driving about half of CoF reduction delivered in FY25 ✓ Extended duration with ABS maturities spread now evenly over the next 3 years Expanded active investor base ✓ Improved investor diversification with 11 new investors in FY25 ✓ Increased total number of active investors by ~40% in last 2 years ✓ Increased offshore investors by ~60% in last 2 years Diversified programme with strong liquidity profile ✓ $6.6bn of drawn funding across 3 key asset classes (Cards, PL, Auto) at year-end ✓ $1bn+ committed warehouse capacity to support receivables growth ✓ At least 12-months of available liquidity runway, reducing market risk ✓ Only ~$30m of unsecured corporate debt at HoldCo vs. >$490m in seller notes 10 CoF and Funding Optimisation Growing momentum in LFS’ ABS programme Investor breakdown of FY25 ABS deals Overall funding split Size of public ABS programme grows as investor following expands 55% 45% Warehouse Public ABS For personal use only
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Bob Belan MD & CEO Guillaume Leger CFO & EGM Finance Adriana Martinez EGM, Pay Division Steve Rubenstein EGM, Money Division Karl Hoffman EGM, Corporate Strategy & Transformation Mark Brudenell CRO & EGM Risk Felicity Joslin CPO & EGM People and Culture Campbell Morrison COO & EGM Enterprise Services Bridge to the Future Areti Rapakousios GGM, Internal Audit & Operational Excellence Phase II of our strategy (Bridge to the Future) defined and in motion Latitude Executive Team 11 Sustain high performance culture Investment and ROI Discipline Extend & Embed the Fundamentals Brilliant Basics at scale 1 Universal implantation of Brilliant Basics Customer Engagement & Retention Expand Into New Industries Ensure Sustained Asset Growth Existing Partner Share Growth 2 Accelerate near- adjacencies Partner with best-in-class Add and unlock new capability Modernise & Uplift Tech Platforms Simplify tech and reduce run costs 3 Speed, Agility, Resilience Strengthen data & decisioning Scale intelligent automation AI-Driven Productivity & CX Deploy high-impact AI use cases 4 Operating leverage & CX improvement Operational & Risk Management Excellence5 Stefano Tognon EGM, Enterprise Growth Division For personal use only
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Financial Performance Guillaume Leger – CFO For personal use only
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Financial outcomes drivers and results continue to strengthen Full Year Financial Snapshot 13 RAI %Net Interest Margin % (1) Revenue includes Interest Income and Other Operating Income Margin growth continues, +104% YoY RAI growth, +27bps YoY Revenue1 % 15.96% 17.34% 17.54% FY23 FY24 FY25 Increasing revenue, +20bps YoY 9.97% 10.71% 11.75% FY23 FY24 FY25 7.07% 8.01% 8.28% FY23 FY24 FY25 Revenue $m 1,001 1,115 1,214 NII $m 625 688 814 RAI $m 444 515 573 For personal use only
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3.0 9.0 FY23 FY24 FY25 TER 3 6.8% 7.1% 7.1% Financial outcomes delivering strengthened returns to shareholders Full Year Financial Snapshot 14 DPS (cents) Unfranked Cash NPAT ($m) Stat Profit2 (103) 31 94 (1) 11.3% dividend yield is calculated based on the 2H25 dividend annualised and a share price of $0.8725 as at market close on 19 February 2026. On a fully franked grossed-up basis, the dividend yield is 16.4%. (2) Statutory Profit from continuing operations. (3) Tangible Equity Ratio as at period end before the impact of any dividend payment 1H – Unfranked 2H - Franked Net Profit growth continues, +59% YoY Increasing return of capital to shareholders, with a 2H25 franked 11.5% dividend yield1 Cash Profit growth +36% YoY Cash PBT ($m) 28 66 105 FY23 FY24 FY25 98 155 211 FY23 FY24 FY25 ↑47% CAGR ↑95% CAGR For personal use only
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Strong topline momentum maintained Volume growth continues +9% YoY, +13% HoH 15 Volume growth translating into receivables expansion Delivering +7% receivables growth YoY Interest Bearing 5.2 4.4 4.4 4.6 4.5 5.0 5.4 Average Receivables (AGR) 7.6 6.5 6.3 6.3 6.1 6.6 7.0 Repayment Rates 1 93% 105% 103% 100% 97% 99% 100% ($Bn)($m) 1 Repayment rates are expressed on an annualised basis in constant currency, excluding Credit Cards and BNPL 1H25 vs. 2H25 4,247 41 25 440 54 4,807 7.7 6.5 6.3 6.5 6.2 6.7 7.2 2H19 2H20 2H21 2H22 2H23 2H24 2H25 4,418 70 32 254 32 4,807 2H24 Money AU Money NZ Pay AU Pay NZ 2H25 For personal use only
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14.92% 14.67% 15.96% 17.34% 17.54% 2.50% 3.41% 5.47% 6.00% 5.41% 2.33% 2.33% 3.42% 3.33% 3.85% 10.10% 8.93% 7.07% 8.01% 8.28% FY21 FY22 FY23 FY24 FY25 Margin optimisation in response to evolving macro conditions RAI margin evolution Re-pricing strategies to deliver uplift Optimisation 16 Margin expansion and portfolio growth continues • FY25 RAI +27bps YoY to overall Group yield supported by: o Revenue Yield +20bps YoY led by higher yields in Money. Money New Business APR is ~200bps above Money Portfolio APR. o CoF Yield (59bps) YoY due to lower base rates and lower spreads. o NCO Yield +52bps YoY and in line with point-in-cycle expectations • Higher receivables delivering +$40m YoY in risk adjusted income Key YoY drivers RAI Revenue Yield Interest Expense NCO Op Income Yield 12.43% 11.27% 10.49% 11.34% 12.12% RAI ↑121bps For personal use only
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4.03% 3.78% 2.93% 2.39% 2.80% 2.39% 2.71% 2.69% 3.92% 3.50% 3.74% 3.54% 3.82% 4.19% 4.20% 3.60% 3.50% 3.76% 3.76% 1.19% 1.07% 0.95% 0.67% 0.82% 0.67% 0.80% 0.69% 1.27% 0.92% 1.15% 1.35% 1.61% 1.60% 1.00% 1.02% 1.18% 1.15% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Pro forma delinquency with Money charge off methodology at 120 days past due Cyber peak Money charge off methodology change 3 Pre- Covid COVID stimulus 7% 6% 7% 31% 25% 29% 34% 18% 17% 28% 51% 47% FY19 FY24 FY25 Pay A&NZ 5% 6% 7% 27% 25% 26% 48% 40% 40% 20% 28% 28% FY19 FY24 FY25 Money A&NZ Quality of new customer originations remains strong 1) Change in CR grades largely due to scorecard recalibrations in mid -2023 and 2H25 to align with target probability of default (PD ). 2) Pre-Covid LT avg is from FY17 to FY19. Refer to P32 for more detail on long term trends. 3) Impact to DPD % of 44bps on 30+ and 45bps on 90+ as a result of Money Charge off methodology change from 120 to 180 days Delinquency and losses performing in line with historical norms Delinquency performance remains within target range Normalised delinquency trends performing in line with pre-Covid long-term norms 1 Pre-Covid 30+ LT avg 2 = 3.94% Pre-Covid 90+ LT avg 2 = 1.13% 3 3 90+ dpd (%)30+ dpd (%) Pro forma 30+ dpd (%) 3 Pro forma 90+ dpd (%) 3 30+ 90+ 17 For personal use only
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4.12% 4.20% 4.25% 4.42% 4.42% 4.29% 4.24% 4.21% 5.50% 4.62% 4.46% 4.28% 3.74% 3.75% 4.21% 4.21% 4.23% 4.29% 4.35% 4.45% 0% 1% 2% 3% 4% 5% 6% Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25 Charge offs following predictable path in line with target operating ranges to deliver sound risk adjusted returns, while prudent provisioning is maintained Credit loss profile 18 Historical Net Charge Offs & Provision Coverage Rates Provision Coverage Rate Net Charge Off Rate (Rolling 12 month avg) 3.85% Net Charge Off Rate1 (1) Net charge offs presented on a rolling 12 month average 4.45% COVID Stimulus Normalisation Group coverage rate prior to the formation of Latitude was calculated under different standards and is therefore not presented for prior periods For personal use only
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Operational efficiency gains supporting improved profitability 19 Strong cost discipline and sustained business momentum driving positive Jaws 5.9% 4.1% 0.6% (7.1%) 10.8% 15.1% FY23 FY24 FY25 Op Income YoY Cash Opex YoY1 Jaws 6.7% Jaws 14.5% Jaws (13.1%) (1) OpEx growth shown on a normalised basis, adjusted to remove $13m one-off benefit in employee expense in 2024 due to lower discretionary incentives Margin expansion Fund growth initiatives Path toward sustainable, profitable growth Jaws momentum strengthens ability to drive Positive Jaws started to be realised through 2H24 with material Jaws expansion into FY25 For personal use only
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Outlook Bob Belan – Managing Director & CEO For personal use only
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Outlook 21 Latitude expects to continue to benefit from the strategic initiatives implemented over the past 12 months to sharpen its focus on its core consumer segments in Australia and New Zealand. These actions have improved operational focus and are expected to support disciplined growth, subject to prevailing market conditions. Against a backdrop of evolving interest rate settings in Australia and New Zealand, Latitude continues to progress organic growth opportunities through existing partner relationships and selected adjacent segments to support sustained asset growth across the business. Net interest margins will naturally be influenced by movements in central bank benchmark rates and funding conditions. Through proactive hedging, disciplined pricing, treasury management and portfolio mix activities, Latitude remains focused on optimising yield and returns through the cycle. Latitude expects credit performance to remain within targeted ranges, underpinned by disciplined underwriting and active portfolio management, while continuing to reflect macro-economic conditions within its core markets. Strong and sustained profit performance and disciplined balance sheet management are expected to create the capacity to prudently return capital to shareholders. Ongoing investment in cyber security and advanced technology capabilities, including artificial intelligence, is expected to progressively enhance operating leverage over time while supporting resilience, efficiency and improved experiences for customers and partners. For personal use only
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Company Overview For personal use only
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Motor Loans 1925 AGC founded Range of acquisitions by GE Latitude is acquired from GE Establishment of standalone funding structure IPO & Shinsei investment Acquisitions of Symple & OctiFi Separation from GE as a standalone business 1995 - 2002 2015 2021 2022 2023 Hallmark & Canada sale. Exit Asia & BNPL Path to Full Potential strategy Launch of Latitude brand 2024 Launch David Jones co-label Credit Card Unique and successful business model with differentiated core capabilities proven across the full economic cycle Pre-acquisition (GE Capital) Private consortium ownership ASX listed company Path to Full Potential – Bridge to the Future MONEY Sales Finance Interest Free Plans & Everyday Purchases ~1.3m customers ~$4.3bn purchases Credit Cards Shopping & Travel Card ~200k customers ~$2bn purchases Personal Loans Secured / Asset Based Loans ~133k customers ~$1.3bn originations ~35k customers ~$325m originations REINVEST Our Core Segments Our Unrivaled Distribution Network ~500 Retail Partners 5,500+ Retail Outlets PAY White Label Tailored merchant-Partner Solutions ~120k customers ~$1bn purchases Grow New Partner Channels & Scale Intelligent Automation 2025+ 23 Auto Boat Caravan Debt Consolidation Home renovation Underpinned by a strong legacy Unsecured Loan Solutions 5,500+ Accredited Brokers For personal use only
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0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 $bn Big 4 Bank Regional/Mid-sized Bank Non-Bank Lenders Mutual/Credit Union REACH EXPERTISE 1.8m customers ~500 retail partners with 5,500+ retail outlets Network of 5,500+ loan accredited brokers $7.2bn total customer balances2 $7.4bn in total purchases on cards annually2 $1.6bn new loan originations written annually2 Over 100 years unsecured lending experience ~40% application pull-through rate since IPO3 Low volatility NCO performance over long term SCALE #1 non-bank unsecured consumer lender in Australia, over 2x nearest non-bank competitor Source: Company data, APRA and companies’ public disclosures as at 31 December 2025 or the most latest available. Latitude disclosure as of 31 December 2025. (1) In the portfolio ranking chart, data is based on AU only. For LFS includes personal loans and credit card receivables, and excludes motor loan balances. (2) Balances as at 31 December 2025; Volume based on Last 12 months. (3) Pull-through rate is defined as a percentage of new accounts approved and originated from new applications 24 Unparalleled scale, reach & expertise distinguish LFS franchise across consumer lending landscape AU Personal loans and cards portfolio ranking1 For personal use only
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Meeting the needs of consumers and merchant-partners A clear use case for our products… with room to grow in new verticals Engaged CUSTOMERS looking for great experiences… ➢ Cross-generational & high quality • 68% Millennials & Gen X and 23% Boomers • 69% city, 31% rural1 • 49% homeowners • Medical • Dental • Subscriptions • Cosmetics • Education • Home Improvement / HVAC Source: Company data as of 31 December 2025, unless otherwise stated. (1) Relates to Pay customers only (2) Personal Loan Volumes calculated by percentages from January -December 2025. 25 New & Growing Verticals Interest Free Volume Electronics 38% Home and Furniture 29% Computers 16% Other 6% Online 5% Travel & Leisure 5% Jewellery, 2% Discretionary 40% Home & Furniture 9% Non- Discretionary 21% Others 7% Transit & Car Expense 8% Travel 14% Home Improvement 30% Vehicle Purchase + Repairs 23% Debt Consolidation 19% Other 16% Travel 12% Personal Loan Volume2 Card Purchase Volume ➢ Engaged, loyal & long-tenured • 51% customers for 5+ years • 75% of SF volume from recurring customers • Half of new SF customers go on to use their card to spend For personal use only
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AppendicesFor personal use only
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ESG Full Year 2025 highlights Supported vulnerable customers through tailored hardship arrangements 27 $2m+ donated to charities since Latitude began Established a three-year Diversity & Inclusion Strategy Launched our inaugural Reconciliation Action Plan Rolled out two new company-wide development programs for our people Achieved an average monthly compliance training rate of 99% Measured and published our Scope 1 & 2 carbon emissions Issued our first climate-related financial disclosure For personal use only
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0 5 10 15 20 25 Dec-17 Apr-18 Aug-18 Dec-18 Apr-19 Aug-19 Dec-19 Apr-20 Aug-20 Dec-20 Apr-21 Aug-21 Dec-21 Apr-22 Aug-22 Dec-22 Apr-23 Aug-23 Dec-23 Apr-24 Aug-24 Dec-24 Apr-25 Aug-25 0 1 2 3 4 5 6 7 8 Jan-16 May-16 Sep-16 Jan-17 May-17 Sep-17 Jan-18 May-18 Sep-18 Jan-19 May-19 Sep-19 Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21 Jan-22 May-22 Sep-22 Jan-23 May-23 Sep-23 Jan-24 May-24 Sep-24 Jan-25 May-25 Sep-25 Jan-26 NZ: Currently 5.4% 0% 1% 2% 3% 4% 5% 6% Jan 22 Apr 22 Jul 22 Oct 22 Jan 23 Apr 23 Jul 23 Oct 23 Jan 24 Apr 24 Jul 24 Oct 24 Jan 25 Apr 25 Jul 25 Oct 25 Jan 26 Unemployment stabilising across AU &NZ markets Modest growth starting to return, currently at 4.9% Nov 251 NZ: Remains in line with historical levels AU: Remains below historical levels After COVID driven surge and sharp drawdown, household savings have normalised within Pre Covid range (5-7%) 28 Macro environment conditions reverting to historical levels, playing to Latitude’s advantage Household Savings back to normalised pre pandemic levels … Cash rates levelling off… Source: ABS … to support stronger lending demand … to support volume growthSource: ABS12 … to support credit resilience … to support margin optimisation AU: Currently 3.85% NZ: Currently 2.25%AU: Currently 4.1% Source: ABS & Stats NZ (1) Retail sales (seasonally adjusted) includes Household goods, Department stores and Other retailing Retail Sales (YoY) showing growth … Cash rate easing cycle appears to have ended. Pricing actions taken have rebuilt margins, and continue to be optimised -10% -5% 0% 5% 10% 15% 20% Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25 Oct-25 Currently 4.9% Nov-25 Feb 26 Sep-25 Currently 6.4% For personal use only
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Diverse Funding Platform 62 Investors Cost Effective • 8 transactions completed in FY25 totaling $3bn: • 3 public transactions $1.5bn • 2 warehouse refinances $1.2bn • 1 new warehouse establishment $0.2bn • 2 VFN extensions $0.1bn • Diverse investor base of 62 with $1.5bn headroom • Active IRRM with 36% of receivables 60% Investors Offshore to A&NZ Warehouse Financing A$5.3bn Total Limits 8 Active Facilities ABS Issuance 8 Active Issuances A$8.3bn Total Issuance to date Australia and New Zealand, 31 December2025 Australia and New Zealand, 31 December 2025 29 Continued active funding programme with 3 term transactions totaling $1.5b in 2025 Funding Platform & Approach Prudent capital management approach • Capital remain strong • 7.1% TER at 31 December 2025. A$ million 31 December 2025 Total equity 1,218 Intangible assets 732 TE 486 Net receivables 2 6,850 TER 7.1% (1) ABS term deals included at their 10% call option . (2) Represents Gross loan receivables less loan provisions for impairments, deferred income and customer acquisition costs 31.2% 33.8% 34.1% 0.9% 2026 2027 2028 2029 Securitised Debt Maturity Profile 1 For personal use only
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25bps change = $10m change in interest expense (pre-tax)1 Management actions available to mitigate impact to profit. Funding: cash rate scenario sensitivity • 25bps rates = ~$10m interest expense (pre-tax). AU = ~$8m / NZ = ~$2m • RBA and RBNZ easing cycle likely to be over, probability of rate increase growing in 2026 • Cash rates expected to reflect economic activity and inflation outcomes • Lift in interest rate hedging in 2025 likely to support interest expense • This analysis shows the impact of shifts in interest rates on the Group’s profit over a year assuming all other things remain equal at the end of the reporting period • The above impacts excludes any management action that can mitigate impact of increased interest expense Source: Company data, RBNZ 30(1) Rate sensitivity derived from floating rate liabilities that support variable asset exposures that are not hedged Easing cycle in Australia and New Zealand appears to have ended Sensitivity Summary and Outlook Source: Company data, RBA 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% Dec 21 Mar 22 Jun 22 Sep 22 Dec 22 Mar 23 Jun 23 Sep 23 Dec 23 Mar 24 Jun 24 Sep 24 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 AU Cash Rate AU 3-yr swap AU 1-mth bill 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% Dec 21 Mar 22 Jun 22 Sep 22 Dec 22 Mar 23 Jun 23 Sep 23 Dec 23 Mar 24 Jun 24 Sep 24 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 NZ 3-yr swap NZ 1-mth bill NZ Cash Rate For personal use only
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0% 1% 2% 3% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Pay AU (ex BNPL) PL AU Total AU (ex Auto) Auto AU 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Pay NZ (ex BNPL) PL NZ Total NZ 0% 1% 2% 3% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Pay NZ (ex BNPL) PL NZ Total NZ 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Pay AU (ex BNPL) PL AU Total AU (ex Auto) Auto AU 1) Charge off methodology for Money products changed from 120 days to 180 days from June 2024. Notes: Time series data from January 2008 to 31 December 2025. Motor loans delinquency history captured from July 2016 which was when Latitude relaunched its motor loan product. 31 Delinquency performance over time Delinquencies (30+ days past due) by product, New Zealand Mar’23 cyber incident Delinquencies (30+ days past due) by product, Australia Delinquencies (90+ days past due) by product, Australia Delinquencies (90+ days past due) by product, New Zealand Mar’23 cyber incident Mar’23 cyber incident Mar’23 cyber incident Shift to 180 days1 Shift to 180 days1 Shift to 180 days1 Shift to 180 days1 For personal use only
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32 Results Summary 2H25 1H25 2H24 HoH YoY FY25 FY24 YoY New Volume ($m) 4,807 4,247 4,418 13% 9% 9,054 8,223 10% Gross receivables ($m) 7,211 6,962 6,748 4% 7% 7,211 6,748 7% AGR ($m) 7,012 6,842 6,565 2% 7% 6,924 6,430 8% Cash PBT ($m) 118 93 89 26% 33% 211 155 36% Cash NPAT ($m) 59 46 38 27% 53% 105 66 59% Statutory NPAT ($m) 55 40 22 38% 153% 94 31 208% Cash EPS (cents) 5.66 4.44 3.70 30% 54% 10.11 6.33 60% Dividend per share (cents) 5.00 4.00 3.00 25% 67% 9.00 3.00 200% RAI (%) 8.4% 8.2% 8.6% 18 (23) 8.3% 8.0% 27 RoAGR (%) 1.7% 1.4% 1.2% 31 51 1.5% 1.0% 50 RoE (%) 9.7% 7.7% 6.2% 200 348 8.7% 5.3% 333 RoTE (%) 24.7% 20.3% 17.2% 433 752 22.4% 15.4% 702 Tangible Equity Ratio (%) 7.1% 7.0% 7.1% 13 (2) 7.1% 7.1% (2) For personal use only
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33 Summary profit & loss statement ($m) 31-Dec-25 30-Jun-25 31-Dec-24 HoH Change YoY Change FY25 FY24 FY Change 2H25 1H25 2H24 % % % Interest income 599.9 588.4 565.9 2% 6% 1,188.4 1,074.5 11% Interest expense (182.5) (192.3) (198.2) 5% 8% (374.8) (386.0) 3% Net interest income 417.4 396.1 367.7 5% 14% 813.6 688.5 18% Other income 14.3 11.6 19.7 23% (27%) 25.9 40.7 (36%) Total operating income 431.7 407.7 387.4 6% 11% 839.5 729.2 15% Net charge offs (136.2) (130.1) (104.0) (5%) (31%) (266.3) (214.0) (24%) Risk adjusted income 295.6 277.6 283.4 6% 4% 573.2 515.2 11% Cash operating expenses (177.9) (184.1) (194.8) 3% 9% (362.1) (360.0) (1%) Cash PBT 117.6 93.5 88.6 26% 33% 211.1 155.2 36% Movement in provisions (22.1) (12.1) (13.4) (83%) (65%) (34.3) (21.8) (57%) Depreciation & amortisation (ex leases) (14.1) (17.7) (19.3) 20% 27% (31.8) (38.0) 16% Profit before tax & notable items 81.3 63.7 55.9 28% 45% 145.0 95.4 52% Income tax expense (22.4) (17.5) (17.4) (28%) (29%) (39.9) (29.5) (35%) Cash NPAT from continuing operations 58.9 46.2 38.5 27% 53% 105.1 65.9 59% Notable items after tax Amortisation of acquisition intangibles 0.0 (0.0) (11.3) n.m. n.m. (0.0) (25.5) n.m. Other notable items (4.2) (6.5) (5.6) 35% 25% (10.7) (9.8) (9%) Total Notable items after tax (4.2) (6.5) (16.9) 35% 75% (10.7) (35.3) 70% Statutory profit after tax (continuing ops) 54.7 39.7 21.6 38% 153% 94.4 30.6 208% Profit/(loss) from discontinued operations 0.1 (0.5) (2.0) 120% 105% (0.4) (9.0) 96% Statutory profit after tax 54.8 39.2 19.6 40% 180% 94.0 21.6 335% Profit/(loss) is attributable to: Owners of Latitude Group Holdings Limited 54.8 39.2 19.6 40% 180% 94.0 21.6 335% Non-controlling interest 0.0 0.0 0.0 n.m. n.m. 0.0 0.0 n.m. Statutory profit after tax 54.8 39.2 19.6 40% 180% 94.0 21.6 335% For personal use only
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34 Cash NPAT to Statutory NPAT FY25 ($m) Cash NPAT Restructuring costs Remediation Costs Asset impairment Decommissioned facilities Stat NPAT Net interest income 813.6 - - - - 813.6 Other income 25.9 - - - - 25.9 Total operating Income 839.5 - - - - 839.5 Net charge offs (266.3) - - - - (266.3) Risk adjusted income 573.2 - - - - 573.2 Cash operating expenses (362.1) (4.5) (2.9) (5.8) (0.3) (375.6) Cash PBT 211.1 (4.5) (2.9) (5.8) (0.3) 197.6 Movement in provision for impairment (34.3) - - - - (34.3) Depreciation & Amortisation (excluding leases) (31.8) - - - (0.2) (32.0) Profit before tax 145.0 (4.5) (2.9) (5.8) (0.5) 131.3 Income tax (expense)/benefit (39.9) 1.3 (0.2) 1.7 0.2 (36.9) Profit after tax from continuing operations 105.1 (3.2) (3.1) (4.1) (0.3) 94.4 For personal use only
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Thank YouFor personal use only