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FY2026 Financial Results 31 AUGUST 2026 Anthony Wamsteker CEO Emma Stepcic CFO Presented by
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At Praemium we acknowledge the traditional custodians of country. We pay our respect to their elders past and present. 2 |
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The material contained in this document is a presentation of general information about the Praemium Group’s activities current as at the date of this presentation (31 August 2026) and is supplementary to the Group’s previous ASX filings as applicable. It is provided in summary and does not purport to be complete. You should not rely upon it as advice for investment purposes as it does not take into account your investment objectives, financial position or needs. These factors should be considered, with or without professional advice when deciding if an investment is appropriate. This presentation may contain forward-looking statements including statements regarding our intent, belief or current expectations with respect to Praemium’s businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward-looking statements. Praemium does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. While due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside Praemium’s control. Past performance is not a reliable indication of future performance. To the extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) from anyone acting or refraining from acting as a result of this material is accepted by the Praemium Group or any of its related bodies corporate. 3 Disclaimer |
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Praemium is a next-generation investment and wealth management platform trusted by financial advisers, private wealth firms and high-net-worth investors. Our integrated technology brings together managed accounts, portfolio administration, reporting, and digital client experiences - helping advice businesses scale efficiently and deliver exceptional outcomes. 4 |
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5 Presenters Anthony Wamsteker CEO Emma Stepcic CFO 01 Business Highlights 02 Financial Results 03 Strategy and Outlook 04 Questions |
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01 Business Highlights 6 |
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Leading Leading HNW solutions with Scope and Spectrum Strong penetration of broker segment Multi-year renewals of enterprise agreements with key groups Strong underlying earnings growth Scaling OneVue migration completed with ~$3m synergies fully embedded in FY27 ($0.7m synergies achieved in FY26) Technology restructure completed with ~$9m synergies in FY27 ($3.1m synergies achieved in FY26) Key account model expansion to support enterprise growth Transforming Technotia platform transformation progressing to plan Custom integrations to support seamless and personalised HNW advice Superannuation Admin progressing |7 Business highlights FY26
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$32.1m EBITDA (underlying) Up 14.5% pcp Increased operating leverage with underlying EBITDA margin increasing 223 bps to 29.1% $1.9b Net inflows Up 130.1% pcp Strategic focus on HNW market is delivering with strong demand for Spectrum $77.9b Custodial and non-custodial FUA Up 21.1% pcp Platform FUA up 10.8% Market-leading Scope+ FUA up 30.5% 2.5 cps Fully franked dividend declared Up 11.1% pcp Final $6.1m fully franked final dividend declared Interim $6.1m fully franked dividend declared for 1H26 8 Financial highlights FY26
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55.7 65.6 76.3 85.7 104.5 110.5 FY21 FY22 FY23 FY24 FY25 FY26 14.0 16.6 23.4 21.5 28.1 32.1 FY21 FY22 FY23 FY24 FY25 FY26 5 Year CAGR 14.7%* 5 Year CAGR 18.1% | *Excludes discontinued operations revenue9 Sustained growth trajectory Revenue* Growth ($’m) Underlying EBITDA Growth ($’m)
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10 Operating leverage Revenue growth converting into expanding margins The operating leverage engine RUNWAY AHEAD +5.7% FY26 yoy Revenue +2.5% FY26 yoy Underlying operating costs +14.5% FY26 yoy Underlying EBITDA 29.1% FY24 FY25 FY26 26.9% 25.1% Technology & AI automation plus Technotia removing manual processing Disciplined cost base lifting margin to 29.1% Full year OneVue and Technology synergies achieved in FY26 to be realised in FY27 OneVue FY26 EBITDA uplift of $0.7m to increase to ~$3m in FY27 Technology FY26 EBITDA uplift of $2.6m to increase to ~$7m in FY27 Underlying EBITDA margin +400bps since FY24
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High adviser engagement underpins low churn and sustained growth in high-quality FUA and platform revenue +21% increase in active adviser platform FUA +$5.1bn Growth in FUA in FY26 from active advisers | Active adviser = adviser with platform activity in the period11 High-quality growth led by active advisers 85% Active adviser share of platform FUA
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Purpose built for HNW Not adapted for it Non-custody administration from day one is the foundation of our HNW platform, not a bolt-on feature Our custody solutions intentionally integrate for a seamless experience 25+ Years of HNW expertise 80%+ of top 20 clients hold multiple products Resilient revenue streams Scalable platform revenue engine (Spectrum, SMA, Super) plus recurring flat fee administrations anchored in long-term adviser relationships (Scope, Scope+) True integration with sophisticated solutions A deep understanding of the HNW advice segment and a breadth of solutions to meet their requirements Winning where we focus No.1 Data & Integration1 No.1 Sophisticated client offer 2 | 1. 2025 Investment Trends Competitor Analysis and Platform Benchmarking 2. SuitabilityHub & CoreData APEX Adviser Platform Experience 2026 12 A competitive HNW advantage A diversified deeply embedded platform built on capabilities and foundations that competitors are still striving to replicate
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TODAY POTENTIAL +10 x revenue Total addressable market Where Praemium sits today vs the opportunity ahead | 1. Based on number of firms with execution only service that have advisers with FUA on Praemium 2. ASX Chess Holdings June 30 2026 3. Praemium/CoreData Stockbroking research March 2026 sample of 100 advisers from stockbroking firms 13 Leading the market, early in the opportunity The FUA uplift is just beginning — the largest firms are still early in onboarding 65% of stockbroking segment serviced by Praemium 1 $3.5t in Chess holdings with a segment looking to move into recurring revenue streams 49% Of brokers expect advice-led models to take share from transactional broking 3 79% of brokers say half or more of their clients are HNW 3 2 c.2-3 x revenue Serviceable market
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|14 Simpler administration Enhanced digital signatures, cash management and streamlined account processes are reducing friction for advisers and investors Broader investment access Clearstream Vestima and margin lending integrations expand access to new investment options Better data and reporting Enhanced reporting tools and stronger integrations including Xplan EPI 4.3 help advisers work more efficiently More support and transparency Expanded self-serve training options and support with Div296 and budget changes Technology transformation Rebuilding core architecture, modernising the user experience and creating the foundation for faster innovation, greater scalability and improved performance Delivering today while building for tomorrow Practical improvements that expand capability and strengthen the client experience
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15 02 Financial Results |
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Income Statement ($’000) FY26 FY25^ (restated) % change Platform revenue 88,900 83,628 6.3% Portfolio Services revenue 21,562 20,848 3.4% Revenue 110,462 104,475 5.7% Cost of operations (37,774) (35,147) (7.5%) Information technology (18,358) (19,825) 7.4% Sales & marketing (9,475) (9,473) 0.0% General & admin (12,734) (11,975) (6.3%) Corporate expenses (78,341) (76,420) (2.5%) Underlying EBITDA 32,121 28,055 14.5% Underlying EBITDA margin % 29.1% 26.9% Underlying net profit after tax 15,427 14,986 2.9% Statutory net profit after tax 6,542 11,929 (45.2%) 16 Underlying financial performance improving Platform revenue increase driven by record FUA from strong flows, offset by revenue losses from the OneVue exiting advisers Portfolio services revenue impacted by a managed client exit early in the year. With onboarding of new portfolios into the second half of the year, the full run rate of these portfolios is expected in FY27 Cost of operations increased due to additional headcount added to support Scope+ growth and higher super trustee fees Sales & marketing – higher incentives and investment into sales development offset by reduced Spectrum marketing post launch General & admin – capabilities added to the project management office and legal function ^Statutory net profit after tax for FY25 has been restated, see Note 1(h) of the Financial Report Revenue categorisation revisited in FY26* Net impact to revenue: FY26 +$2.1m; FY25 +$1.4m. There is no impact to EBITDA * Trading and Expense recovery fees included in revenue; and Receipt of reduced input tax credits (RITC) realigned to cost of operations as a contra-expense Underlying EBITDA up 14.5% to $32.1m from $28.1m in FY25, with underlying EBITDA margin up 223bps to 29.1%
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17 Financial performance Underlying EBITDA to Statutory NPAT Income Statement ($’000) FY26 FY25^ (restated) % change Underlying EBITDA 32,121 28,055 14.5% Underlying EBITDA margin % 29.1% 26.9% 8.1% Share based payments (2,096) (1,837) (14.1%) Depreciation & amortisation (9,534) (7,105) (34.2%) Interest & other 505 1,884 (73.2%) Underlying Tax (5,569) (6,012) 7.4% Underlying net profit after tax 15,427 14,986 2.9% Underlying effective tax rate (%) 26.5% 28.6% OneVue acquisition, transition and restructure (2,644) (3,593) 26.4% Technotia Laboratories acquisition and incentive arrangements (3,070) - N/A Restructure and other (3,613) (244) (1,377.8%) Discontinuation of software assets under development (5,866) - N/A OneVue earn out release 3,161 - N/A Other - (429) 100% Tax impact of adjustments 3,147 1,211 159.9% Statutory net profit after tax 6,542 11,929 (45.2%) Statutory effective tax rate (%) 27.0% 28.7% OneVue transition costs reduced with exiting the transition services agreement in February 2026 Technotia Laboratories costs included the change to the incentive arrangements announced in June 2026, with a contingent liability for any further payments Restructure costs relate to the organisational changes to the technology division announced in February 2026 Discontinued software assets under development expensed following the transition to build a new core technology platform Depreciation & amortisation increase arising from substantial development assets brought into use in late FY25 and early FY26 ^Statutory net profit after tax for FY25 has been restated, see Note 1(h) of the Financial Report See the appendices for information on the changes for the income tax shortfall Interest decreased due to a reduction in interest income on lower cash holdings, higher interest expenses for new leases and interest on the Income tax shortfall identified
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|18 Two revenue engines One grows with markets, one independent of markets Platform revenue 80% Spectrum | SMA | Powerwrap | Super Portfolio services revenue 20% Scope (software) | Scope+ (outsourced administration services) The majority of revenue scales with markets and adviser growth, while the administration base holds steady through market cycles Fee Model Revenue Driver Market Sensitivity Value Proposition Platform revenue % of AUM (capped) + transactions + cash margins Adviser and FUA growth, market performance, inflow, cash holdings, transaction volumes Varies with market performance and transaction volumes Full platform infrastructure and reporting Portfolio services revenue Flat fee per portfolio Growth in number of portfolios served Largely insulated from market movements Eliminates back-office burden for advisers Result
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0 10 20 30 40 50 60 1H21 2H21 1H22 2H22 1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26 Platform Revenue Portfolio Services Revenue Discontinued Ops | * Excludes discontinued operations revenue | ** Excludes the negative revenue impact of OneVue adviser exits of $3.8m, which were offset by cost-savings from the OneVue migration during the year 19 Strong underlying total revenue growth Total revenue grew 9.3%** excluding the impact of the OneVue adviser exits 5 Year CAGR 14.7%* ($’m) Portfolio services revenue grew 3.4% with growth impacted by a reduction in Scope portfolios with a managed client exit Strong 5yr CAGR of 14.7%* driven by Platform revenue up 129% since FY21 Portfolio services revenue growth 29% over the 5 years Revenue Annualised run rate for portfolio services revenue for June 2026 was $23.2m following onboarding of new portfolios in 2H26
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| *Excludes the negative revenue impact of OneVue adviser exits of $3.8m, which were offset by cost-savings from the OneVue migration during the year 20 Platform revenue growth 10.8%* vs pcp Platform revenue margin down slightly with average account balances increasing and growth in enterprise customers Spectrum revenue margin below the platform average, with Spectrum margin expected to increase over time 0 10 20 30 40 50 1H22 2H22 1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26 $m 25 28 28 29 27 669 724 669 766 808 400 500 600 700 800 900 20 25 30 35 40 FY22 FY23 FY24 FY25 FY26 Total (ex OneVue) Ave FUM per portfolio 83.6 9.1 (3.8) 88.9 FY25 Platform OneVue FY26 65 70 75 80 85 90 95 100 Platform Revenue Platform Revenue Margin Platform Revenue Platform revenue grew 10.8% excluding the impact of OneVue adviser exits 10.8% $’000bps $’m
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|21 Strong platform FUA growth with Spectrum traction 0 5 10 15 20 25 30 35 1H21 2H21 1H22 2H22 1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26 SMA Powerwrap Spectrum OneVue $b FUA (June 2026 v June 2025) - $34.0b - up 10.8% Spectrum – up 78.2% supported by new business gross inflows of $2.3b since launch in October 2024 OneVue fully transitioned on to Praemium platform – Spectrum ($1.9b), SMA ($1.0b) and Scope ($0.2b) 13.0% Platform FUA CAGR 5 years to June 2026 Net Flows FY26 - $1,926m – up 130.1% on FY25 Net flows excluding adviser exits – $2,448m up 62.8% Strong Spectrum net inflow Powerwrap back to positive net inflows after net outflow in FY25 from adviser exits Market movement $1,379m – 4.5% of opening FUA 5yr CAGR 13.0% Platform FUA
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|22 Market-leader in non-custody portfolio services Scope+ FUA $43.9b and 12.8k portfolios Portfolio services revenue grew 3.4% in FY26 with growth impacted by a reduction in Scope portfolios with a managed client exit Annualised portfolio services revenue run rate for June 2026 was $23.2m following onboarding of new portfolios in 2H26 Deep adviser relationships and recurring revenue Focused growth in non-custodial services with 11 new client firms signed and onboarding efficiency a key priority Scope 56.5k portfolios, down from 64.4k due to a managed client exit and contract expiry. Impact was partially offset by new portfolios onboarded in Q2 FY26 New Scope and Scope+ portfolios committed for FY27 Pipeline remains strong with continued engagement and success with stockbroking - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 - 5 10 15 20 25 30 35 40 45 50 1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26 Portfolios $’b Scope+ p/folios Scope+ FUA Largest competitor FUA 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26 Up 30.5% and 33.7% respectively on FY25 Up 15.7% and 19.6% respectively on 1H26 Scope+ Scope Services # of portfolios
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23 Disciplined focus embedding operating leverage 76.4 8.1 (2.6) (4.5) 78.3 1.0 50 55 60 65 70 75 80 85 90 FY27 full year savings impact FY25 Salaries Other Technology Restructure OneVue FY26 Revenue growth outpaces expenses Underlying EBITDA increased 14.5% on FY25 with the margin increasing by 223 bps from 26.9% to 29.1% Underlying operating expenses grew 2.5% due to annual salary increases and STI outcomes offset by a reduction in marketing, OneVue synergies and the technology restructure cost reductions Underlying EBITDA Underlying operating expenses OneVue cost synergies of $4.5m achieved in FY26 but offset by revenue reduction of $3.8m, resulting in net FY26 EBITDA uplift of $0.7m. The full EBITDA uplift of ~$3.0m is expected in FY27 including OneVue growth 12.9 15.2 15.2 17.0 23.6% 28.8% 26.4% 32.0% 15% 20% 25% 30% 35% 10 12 14 16 18 20 1H25 2H25 1H26 2H26 U. EBITDA U. EBITDA margin $’m $’m Expected technology cost synergies of ~$9m is split between operating expenses ~$7m and capex ~$2m Opex savings of $2.6m and capex savings of $0.5m in FY26
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| * Excludes OneVue adviser exits24 Operational cashflow remains strong FCF uplift in FY27 FCF OneVue Transition Restructure Technotia technology Technotia Acquisition Underlying FCF OpCF Internal Dev Underlying FCF 0.0% 5.0% 10.0% 15.0% 20.0% - 2.0 4.0 6.0 8.0 10.0 12.0 1H24 2H24 1H25 2H25 1H26 2H26 Internal R&D Technotia Other % revenue Free Cash Flow impacted by significant one-off items in FY26 OneVue transition and restructure costs $2.6m Restructure redundancy costs $3.6m Technotia technology investment $5.4m pre-acquisition capital development Technotia acquisition and incentive $3.1m less cash acquired net of costs ($0.5m) Free Cash Flow tailwinds FUA and revenue growth from strong relationship with OneVue retained advisers Reduction in IT costs from Technotia synergies Improved client onboarding driving stronger revenue growth Underlying Free Cash Flow Technology and Associated Additions $’m $’m 2.4 2.6 3.6 2.6 16.6 24.5 (7.9) 16.65.4 - 5 10 15 20 25 30 OneVue synergies fully integrated
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03 Strategy and Outlook 25 |
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No.1 In key HNW segments Ranked #1 for Data & Integration and Sophisticated Client Offer 1 $4.4t HNW investable assets in Australia 2 — a market ~8,000 advisers short of demand +12% Growth in demand for alternatives 12% YOY growth in alternatives FUA – 11% of total FUA on the market's largest alts platform 3 $3.5t In ASX Chess Holdings4 with many broker firms looking to move this book to revenue generating model | 1. 2025 Investment Trends Competitor Analysis and Platform Benchmarking/ SuitabilityHub & CoreData APEX Adviser Platform Experience 2026; 2. CoreData 2026; 3. Praemium 30 June 2026; 4. ASX as at 30 June 2026; 5. ABS 26 Structural tailwinds for growth A larger, more sophisticated client base meeting a broader, better-connected platform HNW demand Growth in alternatives Broker segment Super segment 5 Platform $4.5t Projected growth in SMSFs and Super following Federal Budget changes
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27 Strategy focused on leveraging structural tailwinds Grow HNW adviser reach Strong net inflows Grow wallet share Simplify Technology transformation Onboarding efficiency Simplify operating model Differentiate Lead HNW segment Non-custody offer Integrated wealth Superannuation offering Improve returns Operating leverage Cost discipline Acquisition synergies Cash earnings growth > than expenses Client NPS | Employee Engagement | Risk and Governance Foundation
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|28 Technology transformation underpinning earnings growth Stronger foundations, a sharper experience and faster delivery Architecture transformation Interface rebuild Trading experience Digital onboarding workflows User experience Cleaning up the codebase and strengthening the foundations — better accuracy and speed, and faster time-to-market for future development Streamlined workflows, built-in task monitors and intuitive dashboards with an improved view of total wealth An intuitive, automated trading experience for managed funds and alternative assets Faster, easier onboarding with automated ID verification Greater efficiency and transparency for users including client-tested enhancements AI-enhanced support centre and a structured training program
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|29 Outlook Strong operating and financial momentum carrying into FY27 OneVue and Technotia synergies now flowing through to earnings Building momentum in new business wins and enterprise onboarding Technology transformation underpinning scalable, sustainable earnings growth 01 02 0403
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04 Questions |30
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05 Appendices Analyst and Investor information |31
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32 Financial history – 5 years $ million unless stated FY22 FY23 FY24 FY25 FY26 3-yr CAGR 5-yr CAGR FY23–26 FY21–26 FINANCIAL PERFORMANCE ($'m) Revenue 65.5 76.3 85.7 104.5 110.5 13.1% 14.7% Platform Revenue (restated) 48.1 57.2 65.2 83.7 88.9 15.8% 18.0% Portfolio Revenue 17.6 19.1 20.5 20.8 21.6 4.1% 5.1% Underlying EBITDA 16.6 23.4 21.5 28.1 32.1 11.1% 18.1% U.EBITDA Margin 25.3% 30.7% 25.1% 26.9% 29.1% – – EBITDA (statutory) 14.2 21.7 17.6 23.8 22.8 1.7% 16.5% EBIT 7.6 12.3 9.6 14.8 5.3 (24.5%) (1.8%) Profit Before Tax 46.2 13.7 11.6 16.7 9.0 (13.1%) 23.5% Operating Expenses 64.0 52.9 64.2 76.4 78.3 14.0% 7.9% CASH FLOW ($'m) Operating Cash Flow 10.4 23.5 17.2 20.5 15.2 – – Investing Cash Flow 49.7 (8.4) (8.5) (10.9) (13.2) – – Capital Expenditure 6.7 8.1 8.4 10.3 13.7 – – Free Cash Flow 60.1 15.1 8.7 9.6 2.4 – – Underlying Free Cash Flow 6.1 17.1 12.7 17.0 16.6 - - FUNDS UNDER ADMINISTRATION & OPERATING METRICS Funds Under Administration (FUA) ($'bn) 45.9 44.0 57.4 64.3 77.9 21.0% 13.3% Platform FUA ($'bn) 24.9 22.2 28.1 30.7 34.0 15.3% 7.8% Number of Portfolios (Scope) 57,552 59,863 65,228 64,436 56,513 (1.9%) (0.8%) Number of Portfolios (Scope+) 7,398 7,460 9,559 9,570 12,793 19.7% 15.5% PER SHARE METRICS (cents) EPS 8.6 3.0 1.8 2.8 1.4 – – DPS 5.0 – 1.0 2.3 [2.5] – – FCFPS 1.2 3.4 2.6 3.6 3.3 Issued Shares (m) 513.9 501.9 482.0 477.7 487.5 (1.0%) (0.6%) | * Comparative information presented in this table differs from amounts disclosed in prior Annual Reports for the following reasons : • FY25 has been restated for Revenue, see Note 3 of the Financial Report for the year ended 30 June 2026 • FY22 comparative revenue amounts reflect continuing operations only and exclude revenue from discontinued businesses for the Financial Performance section
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33 Balance Sheet Financial Position remains sound Strong balance sheet available to fund future growth Of the $30.1m cash, the Group regulatory net tangible asset requirement is ~$18m, down due to a reduction in the OneVue requirement following the transition to Praemium Focus on AFSL rationalisation which would result in a reduction in regulatory net tangible asset requirements Balance Sheet ($m) As at 30 June 2026 As at 30 June 2025 (restated)^ Cash 30.1 41.0 Receivables 13.1 10.4 Financial assets 2.6 2.6 Intangibles 77.4 72.9 Other assets 13.3 8.3 Assets 136.5 135.2 Tax liabilities 5.3 6.3 Other liabilities 21.7 22.6 Liabilities 27.0 28.9 Net Assets 109.5 106.3 ^ Tax liabilities for FY25 have been restated, see Note 1(h) of the Financial Report Tax liabilities were impacted by an internal review of the income tax treatment of certain expenses incurred, resulting in an additional current income tax liability of $4.5m recognised in FY25
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34 Revenue recognition and tax reconciliation Tax expense adjustment ($’000) FY26 FY25 Profit before tax - underlying 20,996 20,997 Tax expense (previous) 3,892 4,378 Tax – adjustment 1,677 1,634 Tax expense (adjusted) 5,569 6,012 Effective Tax Rate – adjustment 8.0% 7.8% Effective Tax Rate - underlying 26.5% 28.6% Tax expense during the year was impacted by an internal review of the income tax treatment of certain expenses incurred resulting in a historical income tax shortfall Tax expense adjustment | * HY26 Platform revenue (original) included Expense recovery adjustment of $2.2m Revenue adjustment ($’000) FY26 1H26 FY25 FY24 FY23 FY22 Platform revenue (original) 86,822 45,735 82,194 62,229 55,194 45,750 Trading & Expense recovery fees 7,668 1,533* 6,881 6,703 5,644 5,625 Reduced Input Tax Credits (5,590) (2,726) (5,447) (3,725) (3,646) (3,281) Platform revenue (adjusted) 88,900 44,541 83,628 65,207 57,191 47,728 % revenue change 2.4% 2.3% 1.7% 4.8% 3.6% 4.3% Platform FUA ($’b) 34.0 32.6 30.7 28.1 22.2 19.5 Platform revenue margin (inc OneVue) 27 bps 29 bps 28 bps 28 bps 28 bps 25 bps Platform revenue adjustment Trading and Expense recovery fees included in revenue RITC retained realigned to cost of operations as a contra-expense No impact to EBITDA or cashflow | ** See Note 1(h) of the Financial Report for more details