I would now like to hand the conference over to Anthony Brown, CEO. Please go ahead. Thank you and good morning. Welcome to NobleOak's Financial Year 2026 presentation. I am joined by our CFO, Scott Pearson. I will start with the year's highlights, and then Scott will cover some of the financial results. I will then return to discuss the strategy and the FY27 outlook before we open up for questions. NobleOak remains one of Australia's fastest-growing and most awarded direct life insurer. We are an APRA-regulated friendly society with predictable annuity-like revenue. In August 2026, we were named the ANZIIF Life Insurance Company of the Year for the second year running. As a challenging brand, we are very pleased with that accolade. Just turning to slide four. Our purpose is to protect Australian lives and wealth with integrity. We offer Term Life, TPD, Income Protection, and trauma, and business expenses cover through these three channels. Direct is our higher-margin channel with around 57,000 policies. Strategic partners is our high-growth advised portfolio, with more than now 15,000 policies supported by nib PBS, and now Futura Protection. Venus is our smaller administration business and continues to support portfolios in runoff. It was another year of substantial growth for 2026. In-force premiums grew 18% to AUD 549 million. That was supported by strong new business and lapse rates, which were below industry. New business rose 9% to AUD 69 million. Across direct and strategic partner segments, our new business market share was just over 14%. Underlying NPAT grew 15% to over AUD 21 million, and that was supported by disciplined insurance and expense management right across the business. Before we cover the results in a bit more depth, let me briefly explain what sets NobleOak apart. NobleOak has a clear pathway to AUD 1 billion in force premium, and we are on track to achieve it. This path is supported by a predictable in-force premium revenue, an experienced team, a scalable digital platform, and growing economies of scale. As a high growth challenger with multiple levers to expand and optimize earnings, our customer-first culture, limited legacy, and pragmatic application of AI really support this growth and efficiency. Our move to the life company structure will improve capital efficiency and flexibility while we continue to support long-term growth. Together, these things support growing cash flow, disciplined capital management, and greater margins as we scale. Slide 6 really shows our growth in stark terms. It highlights the strength of our performance across three key measures. On the left is the sales market share, in the middle is our in-force premium growth, and underlying NPAT is on the right. Together, these metrics really demonstrate the scale of growth we've achieved and the momentum that we've built across the business over the last 10 years. This value has been a result of above-market new business growth and below-market lapse rates, which drive market share and in-force premium growth, while stable margins and scale support our NPAT growth. In fact, in-force premiums grew from AUD 4 million to AUD 549 million over the last 10 years. Over the same period, underlying NPAT increased from AUD 1.3 million to AUD 21.1 million. As the book matures, we expect scale and operating leverage to further support this earnings growth. Just turning to slide seven. Just want to spend a moment on what we believe is one of the most important aspects of the current NobleOak investment case. Since our IPO, our EV or embedded value per share has grown by 53% from AUD 1.4 to AUD 2.34 to 2024, while the share price has fallen by around 40% over that same period, reflecting a pattern seen across many micro and small-cap stocks. As a result, NobleOak today trades at more than a 50% discount to embedded value, despite continued growth in premiums, profits, and market share. We believe good execution, increasing market awareness, and continued growth provide a very compelling opportunity for that gap to narrow materially over time. Turning to slide four. Importantly, the team has remained focused on scaling the business for both short- and long-term success. Strong sales growth and continued lapse outperformance drove momentum across both direct and strategic partners. Market share in total increased from 4.1% to 4.7%, the highest it's ever been, while active policies grew 12% to more than 173,000. We also launched a new direct alliance with nib and introduced the new Futura Protection product with our NEOS partners. Our capital position remains strong, and Scott will touch on that shortly. We have continued to embed AI in a practical way that improves efficiency, enhances customer outcomes, and supports growth. We're also making good progress on our transition to life company, which remains on track for completion by December 2027. Overall, we're really happy with how the year's progressed, and I'll now hand over to Scott to cover some of the financials. Thank you, Anthony, and good morning, everyone. FY 2026 was a strong year again for NobleOak, and it's clearly reflected in the financial highlights on this slide. We're pleased to report our in-force premium and underlying NPAT both exceeded guidance, driven by disciplined execution and strong retention rates. In-force premium grew 18% to AUD 549 million, while new business increased 9% to AUD 69 million. Lapse rate was 12.5%, about 2.7% percentage points better than the industry average. Looking at profit, underlying NPAT rose 15% to AUD 21.1 million, and reported NPAT increased by 98% to AUD 14.1 million, mainly because of prior year including a number of one-off costs. Looking at profit per share, underlying diluted EPS increased by 11% to AUD 0.22, and reported diluted earnings per share increased by 91% to AUD 0.1477. Book value rose 9% to AUD 2.34 per share, or 13% if you exclude the one-off impact of the Victorian stamp duty provision. This growth underscores the long-term value we're continuing to build for shareholders. Our regulatory capital multiple is 183% at the top end of our target range as our capital base continues to grow. This strong capital position will support both growth and provides a prudent buffer ahead of our life company transition. To this day, we continue to retain capital to support growth, but we plan to review a capital management framework, including the potential for distributions upon the completion of the life company transition. I will now cover our group financial performance in a little more detail. In-force premium rose 18% to AUD 549 million, supported by strong sales and policy retention rates. New business grew 9% to AUD 69 million, ahead of the market, which grew by about 4%, helped by our new nib alliance and the new Futura product launch. Lapse rates increased slightly to 12.5% as the portfolio matured, but remained better than the industry average. Underlying gross insurance margin reduced by one percentage point to 10.6% due to higher TPD claims in the strategic partner segment. We are managing this industry-wide trend through conservative risk retention and market pricing actions. Importantly, an increase in the direct margins partly offset this impact, which was helped by the RevTech trail commission purchase and favorable claims in the direct segment also. Underlying administration ratio improved 0.6 percentage points to 6.6% as we benefit from economies of scale. This improvement and the strong direct margin helped offset the claims pressures in the strategic partner segment. Underlying NPAT rose 15%, as Mike mentioned, to AUD 21.1 million, and again, reported NPAT increased by 98% to AUD 14.1 million. Importantly, stable margins and better operating leverage continue to support our business going forward. Turning to slide 13 in the direct segment. Direct in-force premium rose 8% to AUD 108 million, while active policies increased 7% to more than 57,000. As flagged at half year, we made some changes in the direct sales function to improve performance and with new business remaining intense, AUD 10 million in FY 2026. Pleasingly, momentum recovered in the second half of FY 2026, and we have started FY 2027 in a strong position with sales up over 10% in the month of July compared to the prior year. Lapse rates improved in the direct segment to 12.7% from 14.6%, about 2.5 percentage points better than the industry average. Again, noting the RevTech trail commission repurchase has reduced commissions by about AUD 3.7 million since acquisition in December 2024. Together with favorable claims experience, this has uplifted our underlying gross insurance margin by 1.2% to 32.4%. The administrative expense ratio fell at 19.8% despite the half-year brand boost campaign costs. As a result of all these factors, the direct underlying NPAT rose 20% to AUD 10.8 million. In the strategic partner segment, in-force premium grew 21% to AUD 440 million, and new business increased 10% to AUD 59 million. Again, ahead of the market growth, which was about 4%. All partners, NEOS, PBS, and Futura, drove this growth. Lapse rates in this segment was 12.5%, which remains better than the industry average of about 15.2%. In this segment is where higher TPD claims reduced our margins. As noted, this is a market-wide trend. Our conservative risk retention and pricing actions have limited the impact, and we will also be reviewing TPD product designs in FY 2027. The administration expense ratio improved 12.3 percentage points to 2.3%, benefiting from scaling. Pleasingly, underlying impact in the Life partner segment increased 11% to AUD 9.7 million, including the TPD experience. Just turning to slide 15, NobleOak remains well-capitalized, with a capital adequacy ratio of 183% at the top of our target range. Capital benefited from the RevTech trail commission repurchase and the use of tax losses. It was partially offset by Victorian stamp duty provisioning. It is important to note, though, the stamp duty exposure has now been capped, with an in-principle draft relief received, which has reduced the financial impact of this transition. Our strong capital position gives us flexibility for future defined growth, invest in the business, and progress the life company transition. As noted earlier, we plan to review our capital management framework, including the potential for distributions upon completion of that life company transition. Results are very pleasing. With that, I will hand back to Anthony. Thanks, Scott. While we understand AI remains a developing technology and many companies are yet to benefit from it, we are pleased that we have seen some measurable benefits from pre-last investments in AI across NobleOak. We thought it would be better to provide an example of how we are creating value from AI and automation. We are focusing this update really on one particular area of the business, direct sales. We consolidated our sales and customer data into one single platform, Microsoft Fabric. We have made several improvements across our CRM platform, our analytics, and our automated phone system called the Dialer. This has improved customer insights, and it has automated quite a lot of manual processes. We are also starting to use predictive models to improve how we manage our leads, as well as workforce planning and customer journeys. The results have been very clear so far. Every call through the sales team is quality checked through an AI platform. Contact rates are up more than 15% through 2026, and our conversion rates have also improved. With less agents and lower COA, Cost of Acquisition, we have maintained sales levels. This is something that has grown without substantial increase in head count, making it a real driver of efficiency, scale, and future earnings for the business. Just turning to slides 18 and then 19, for FY 2027, we target in-force premium growth above 12% and underlying NPAT growth above 10%. This is supported by the full-year contribution from nib and Futura and some automation gains. Our path to $1 billion is supported by a few key priorities. Proper growth and better value growth, AI and technology, capital discipline, and of course, the life company transition that we spoke about, which remains on track. Overall, we are really pleased with the year. We hope you are as well. I would like to thank the NobleOak team for their work this year, and thank you very much for your continued interest and support. I will hand back to the operator for questions. Thanks very much. Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you are on a speakerphone, please pick up the handset to ask your question. Your first question comes from Nick McGarrigle with Barrenjoey. Please go ahead. Good day, guys. Just a quick question around the lapse rates. They look like they have come down a bit from where they were in the previous year. Just any observations around that and maybe do you think that is sustainable or is there something kind of transitory going on that might see that increase into the next year? Yeah, thanks, Nick. In aggregate across the portfolio, they have gone up a bit, but the key reduction was seen by two points is in the direct segment, where we have seen, I guess, the industry pressures and the economic factors sort of flatten out and actually see the lapse rates dial back in the direct segment. So that is very pleasing. We will be monitoring that again as we see TPD prices change in the marketplace over the next 12 months. So that we definitely have seen the lapse rates sort of peak in the market and start to come back. Cool. That is helpful to understand. And I think new policy sales in the direct business have kind of averaged AUD 10 million a year now for quite a while. Is that kind of the natural run rate that you think exists in the market? Obviously, you are pedaling hard with new partnerships and alliances to get that. But is that the kind of number that you think is sustainable or is there upside to that over time? Nick, it's Anthony here. Yeah, it's a good question. As I mentioned, we did put a bit of time and resource into kind of readjusting the sales team and some of the tools and systems that they use, including the Dialer. We've actually rebuilt the team so we could actually move above that 10 million level. I'm pleased that we are actually tracking around 10% above this time last year, so we're starting to see the benefits of that work come through, and that's really coming through better conversion rates and better contact rates. In short, we are expecting some uplifts, Nick, and we've got a couple of new partners that we talked about as well. But we've always got the Cost of Acquisition that we have to manage. We're very disciplined about keeping that at bay as well. Yeah. Okay. With some of the proposals that the government's made last week around what advice within super could look like, my understanding is potentially life is included in that. How do you think about your ability to provide, I don't know what you'd call it, general or maybe mildly more specific advice to the people that you are speaking to in that direct channel? Yeah. We're really supportive of those proposed changes, Nick. We think we'd be really well-positioned if there is this sort of new type of advisory introduced that would allow us to provide more in-depth advice in relation to life insurance. A lot of people do ask questions that would help them take out policies that we're unable to answer in a general advice capacity. But these changes would actually help our direct business, we believe, quite substantially. Do you think that the people that you've got in the team are kind of equipped with the right skillset to provide quote unquote, "advice," or there's a small amount of training to get them to the point where they could improve the conversion for people that maybe are asking questions that you can't answer at the moment? Yeah. I think both of those things are true. We've got some good quality people in there that when you look at the new class of advisor, we believe a number of those would be capable of delivering that. But of course, there would have to be training, quite substantial training, because it's still within our license. We have to make sure the quality of what we deliver is 100%, like we currently do now. We don't think it's a huge transition. We just see more opportunity, and we've been looking forward to these reforms. We really hope that they do all kind of go through as planned. All right. Thanks for that. I'll let someone else ask a question. Thank you. Once again, if you wish to ask a question, please press star one on your telephone. The next question comes from Phil Pepe with Shaw and Partners. Please go ahead. Hey, guys. Thanks for taking the question. Well done on a strong result. Just on the margin trajectory, I might start with direct on slide four A, strong improvement over the last two years over years displayed. Excuse me. I focus on the NPAT margin 10.6. Is this as good as it gets, or can you squeeze the lemon a bit further? If you go out five years, what sort of potential do you think we can target? The margin direct has actually improved quite a deal over the last two years, Phil. It was really a driver for the acquisition of the RevTech trail commission. It has actually improved the insurance margin line. So that transition obviously will continue into the future, with the margins remaining at the higher levels as a result of that. The key driver and benefits that we should see going forward in the direct channel is actually the economies of scale as we grow the business. We should be able to see that expense ratio, which is 90.8% in the income down further. Right. You mentioned possibly earlier, strategic partners has gone the other way. You talked about TPD, but other than pricing, admin ratio was a little better a couple of years ago. Can you improve with scale in the administration expense ratio, or is 2.3% appropriate there for it? Thanks, Phil. I think the key benefits we should be able to see in the strategic partner segment will be driven by the underlying insurance margin finance we can price the broader portfolios. 2.3%, it might be challenging to continue to get economies of scale out of the strategic partner business. I would not expect that ratio to be increasing in future. It should stabilize and slowly keep going down as the book grows. Excellent. That was all. Well done on a good result. Thanks, Phil. Thank you. Once again, if you wish to ask a question, please press star one. The next question comes from Michelle Leong with Australian Ethical Investments. Please go ahead. Just two questions from me, thanks. I was just wondering, is it roughly about five years it would take you to get to a billion dollars in in-force premiums at your current growth rate? And if you are going to get to, if that is double market share, is there any time when the other players look at you as a competitive threat and make it more difficult? Hi, Michelle. It is Anthony. There is no way we are going to commit to a timing over the phone. No, look, you are right. We are trajectorying well to the $ 1 billion. We do expect to get there in the next few years. We are already on the competitor's radar because we have got 14% new business market share now. We cannot really see that change, because while we are not expecting a huge uplift in percentage of new business each year from here, because we are achieving around 14%, our in-force market share will naturally increase. It is currently 4.7%, so we are aiming to get that to over 10%, which is equivalent to the AUD 1 billion. Yeah. I guess that is a short way of saying we are on the trajectory. If we keep around the over 10% new business share, we will get to that level, and we do not believe that that will change the competitor landscape as we have already got our 14% new business share. Okay, thanks for that. Then just an admin type question or a mechanical type question. The Victorian stamp duty provision that is on the balance sheet of AUD 5 million, do we assume that that is actually the amount owing ex-gratia relief that you have got from the commission, and that is just going to be paid out of cash in the future, but you have already provided for it? Thanks, Michelle. Scott, the answer to that is yes. We put a prudent provision in the accounts. We would not expect any future provisions required. If anything, we hope that it is conserving. Okay, thank you. That is it from me. Thanks. Thank you. We have a follow-up question from Nick McGarrigle with Barrenjoey. Please go ahead. Good day. Can you just talk us through how you go from 12% in-force growth to 10% profit growth? Is that conservatism, or have you assumed that your admin ratio kind of isn't as strong as it was in 2027 as it was in 2026? Yeah. Thanks, Nick. Obviously, last year, we had 15% top line and 10% bottom line. As we grow those percentage growth targets with the same level of dollar growth, those growth percentages come down. So the 12% in-force growth and 10% margins are our commitments going forward. I think the key is we did see some pricing increases in FY 2026, which actually saw in-force growth a little bit higher than anticipated. I guess the key for the view on the market, Nick, is that we like to set targets that we know you can be confident in, that we're going to achieve. We'll aim to exceed those in FY 2027. Okay, Thats all. Thank you. There are no further questions at this time. I will now hand back to Anthony Brown for closing remarks. Thank you. Thank you for your questions and for your continued support. It has been a really strong year, and we are looking forward to having another strong year in 2027 as well. On behalf of the board and management, just a huge thanks to our passionate team, partners, advisors, and of course, shareholders. We look forward to updating you on progress throughout the year. Thank you very much. Thank you. That does conclude our conference for today. Thank you for participating. You may now disconnect.