Annual financial statement
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Financial report. Appendix 4E for the full-year ended 30 June 2026 ABN 55 095 034 003 | ASX: RMC RESIMAC GROUP LTD
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APPENDIX 4E (rule 4.3A) FOR THE YEAR ENDED 30 JUNE 2026 – RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD REPORT 2026 2 This Appendix 4E report comprises the financial information given to the Australian Securities Exchange (ASX) under Listing Rule 4.3A. This report is based upon the consolidated financial statements of Resimac Group Ltd (“Resimac” or “the Group”) for the year ended 30 June 2026. RESULTS FOR ANNOUNCEMENT TO THE MARKET (All comparisons to year ended 30 June 2025) FY26 $’000 Up/ down Movement from FY25 % Revenue from ordinary activities 1,072,966 Flat 0% Profit from ordinary activities after tax attributable to members 49,189 Up 42% Net comprehensive income for the year attributable to members 68,012 Up 133% DIVIDENDS Amount per share (cents) Franked amount per share (cents) Final FY26 dividend declared (25 August 2026) 6.00 6.00 Interim FY26 dividend paid (24 March 2026) 4.00 4.00 Special dividend paid (24 March 2026) 9.00 9.00 19.00 19.00 Previous corresponding period: Final FY25 dividend declared (28 August 2025) 3.50 3.50 Interim FY25 dividend paid (21 March 2025) 3.50 3.50 Special dividend paid (23 June 2025) 12.00 12.00 19.00 19.00 Record date for determining entitlements to the dividend 4 September 2026 Date the final dividend is payable 18 September 2026 Dividend Reinvestment Plan The Group’s Dividend Reinvestment Plan (DRP) was suspended in April 2022 and does not apply to the FY26 interim and final dividend payments.
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APPENDIX 4E (rule 4.3A) FOR THE YEAR ENDED 30 JUNE 2026 – RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD REPORT 2026 3 1) Previous corresponding period The previous corresponding period is the year ended 30 June 2025. 2) Net tangible assets per share Net tangible assets per share is $0.64 (FY25: $0.60). 3) Explanation of results This information should be read in conjunction with any public announcements made in the period by the Group in accordance with the continuous disclosure requirements of the Corporations Act 2001 and the ASX Listing Rules. Refer to the attached full financial statements for all other disclosures in respect of this Appendix 4E. 4) Details of entities over which control has been gained or lost during the year Gained: None Lost: None 5) Details of associates and joint venture entities The company does not have any associates or joint venture entities during the year. 6) Set of accounting standards used for foreign entities in compiling this report The foreign entities of the Group comply with Australian Accounting Standards (AASB). 7) Audit This report is based on the financial report audited by Deloitte Touche Tohmatsu. 8) Commentary on results for the year Commentary on results for the year are contained in the ASX release accompanying this statement. Wayne Spanner Chair and Independent Non-Executive Director Sydney 25 August 2026
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TABLE OF CONTENTS FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026 – RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 4 Page Directors’ report Directors’ report 6 Remuneration report 2026 (audited) 16 Financial statements Consolidated statement of profit or loss 35 Consolidated statement of comprehensive income 36 Consolidated statement of financial position 37 Consolidated statement of changes in equity 38 Consolidated statement of cash flows 40 Notes to the consolidated financial statements About this report 41 Segment information 44 Key numbers and policies 1. Revenue 47 2. Expenses 51 3. Income tax 53 4. Cash and cash equivalents 57 5. Trade and other receivables 59 6. Loans and advances 60 7. Other financial assets 62 8. Right-of-use assets 63 9. Plant and equipment 64 10. Other assets 65 11. Goodwill and intangible assets 66 12. Trade and other payables 69 13. Interest-bearing liabilities 70 14. Lease liabilities 72 15. Other financial liabilities 74 16. Other liabilities 75 17. Provisions 75 Capital 18. Capital management 77 19. Dividends 78 20. Issued capital and reserves 79 21. Earnings per share 83 Risk 22. Financial assets and financial liabilities 84 23. Financial risk management 93 Group structure 24. Subsidiaries 109 Unrecognised items 25. Commitments and contingencies 111 26. Subsequent events 111
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TABLE OF CONTENTS FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026 – RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 5 Other 27. Auditor’s remuneration 112 28. Related party transactions 113 29. Parent disclosures 115 30. Share-based payments 116 31. Other accounting policies 120 Tax transparency disclosure Consolidated entity disclosure statement 121 Signed reports Directors’ declaration 123 Independent auditor’s declaration 124 Independent auditor’s report 125
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 6 The Directors of Resimac Group Ltd (“Resimac” or “the Company”) and its controlled entities (“the Group”) submit herewith the financial report for the financial year ended 30 June 2026. In order to comply with the provisions of the Corporations Act 2001, the Directors’ Report is as follows: Information about the Directors Names and particulars of the Directors of the Company during or since the end of the financial year are: Mr Wayne Spanner Independent Chair since November 2024 and Independent Non-Executive Director from February 2020 to November 2024 Wayne has over 30 years of experience as a lawyer and over 15 years senior executive experience in an international law firm. He was previously the Managing Partner of an international law firm in Australia from 2012 to 2020. Wayne has extensive experience in executive management and corporate governance at the Board level. He is also the independent chair of an Australian law firm and a Graduate of the Australian Institute of Company Directors. Other listed Directorships (last three years) • Nil Special responsibilities • Chair of Resimac Group Ltd (since November 2024) • Chair of the Remuneration and Nomination Committee (since February 2020) • Chair of the Audit Committee (July 2024 – December 2024) • Member of the Audit Committee (July 2020 – July 2024 and since January 2025) • Member of the Risk and Compliance Committee (July 2020 – December 2024) • Member of the Ventures Committee (since January 2025) Ms Susan Hansen Independent Non-Executive Director from October 2016 to July 2024, Executive Director from July 2024 to April 2025 and Non-Executive Director since May 2025 Susan is a Chartered Accountant and has over 40 years of experience including a Big Four Accounting firm and an investment bank (financial analysis and risk assessment). Susan is a Graduate of the Australian Institute of Company Directors. In July 2024 Susan was appointed as Interim CEO of Resimac and held that position until April 2025. Other listed Directorships (last three years) • Non-Executive Director of MoneyMe Limited (since December 2023) • Former Non-Executive Director of Utilico Emerging Markets Limited (resigned September 2023) Special responsibilities • Chair of the Audit Committee (November 2016 – July 2024 and since January 2026) • Chair of the Risk and Compliance Committee (January 2025 – December 2025) • Member of the Audit Committee (July 2024 – December 2025) • Member of the Remuneration & Nomination Committee (since November 2016) • Member of the Risk & Compliance Committee (since November 2016) • Member of the Ventures Committee (since January 2025) Mr Warren McLeland Chair from February 2020 to November 2024, Non- Executive Director from October 2016 to February 2020, Independent Non-Executive Director since November 2024 Warren is a former stockbroker and investment banker with over 35 years of experience in domestic and international financial services. In addition, Warren acts as an adviser in funds management and business strategy to companies operating in the Asia Pacific region. Warren is the former Chair of Resimac Group Ltd. Other listed Directorships (last three years) • Non-Executive Director of BNK Bank Limited (since December 2023) • Former Chair of Thorn Group Limited (removed from the ASX Official List in December 2023) Special responsibilities • Chair of Resimac Group Ltd (February 2020 – November 2024) • Chair of the Risk & Compliance Committee (February 2017 – December 2024) • Member of the Risk & Compliance Committee (since January 2025) • Member of the Remuneration & Nominations Committee (since November 2016) • Member of the Audit Committee (since August 2017) • Member of the Ventures Committee (since January 2025)
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 7 Mr Duncan Saville Non-Executive Director since November 2017 Duncan is a Chartered Accountant and an experienced non-executive Director. He is Chairman of ICM Limited, an international fund manager. Duncan is a fellow of the Institute of Chartered Accountants Australia and New Zealand, the Australian Institute of Company Directors and the Financial Services Institute of Australasia. Other listed Directorships (last three years) • Non-executive Director of West Hamilton Holdings Limited incorporated in Bermuda (since 2012) • Non-executive Director of Somers Limited incorporated in Bermuda (Since April 2024) Special responsibilities • Chair of the Ventures Committee (since January 2025) Ms Caroline Waldron Independent Non-Executive Director since November 2020 Caroline is a non-executive Director and cross border advisor with over 30 years of experience in regulated consumer sectors such as technology, retail and health. Caroline brings to Resimac commercial and governance expertise in many areas including the deployment of technology and complex transactions. Caroline holds an LLB Hons (London) and has been admitted to the Bars of England and Wales, Malaysia, Australia and New Zealand. Other listed Directorships (last three years) • Chair (since November 2024) and Non-executive Director (since May 2022) of Genetic Signatures Limited • Former non-executive Chair of AMA Group Limited (resigned June 2024) Special responsibilities • Chair of the Risk & Compliance Committee (since January 2026) • Chair of the Audit Committee (January 2025 – December 2025) • Member of the Audit Committee (since January 2026) • Member of the Remuneration & Nominations Committee (since January 2021) • Member of the Risk & Compliance Committee (since February 2022) Company Secretaries Mr Peter Fitzpatrick Since November 2016 Peter is a Chartered Accountant who joined Resimac Limited in 1987. He is a member of the Governance Institute of Australia and the Financial Services Institute of Australasia. Ms Katie Browne Since May 2025 Katie joined the Group in 2013. She has completed the Post Graduate Diploma of Applied Corporate Governance and Risk. The abovenamed Directors and officers held office during the financial year and since the end of the financial year. Directors’ shareholdings The following table sets out each Director’s relevant interest in shares and rights of the Company or in a related body corporate as at the date of this report: Directors Fully paid ordinary shares Number of rights over ordinary shares Warren McLeland 12,130,165 Nil Susan Hansen 212,738 Nil Wayne Spanner 46,069 Nil Duncan Saville Caroline Waldron 254,736,353 Nil Nil Nil
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 8 Remuneration of Key Management Personnel Information about the remuneration of Key Management Personnel (KMP) is set out in the Remuneration Report section of this Directors’ Report. The term ‘KMP’ refers to those persons having authority and responsibility for planning, directing and controlling the activities of the Company and its controlled entities or indirectly, including any Director whether executive or otherwise of the consolidated entity. Share options or rights granted to and/or exercised by Directors and senior management An aggregate of 217,512 shares were granted under the Employee Share Plan on 17 February 2026. Further details included in the Remuneration report. Directors’ meetings The following table sets out the number of Directors’ meetings (including meetings of committees of Directors) held during the financial year and the number of meetings attended by each Director (while they were a Director or committee member). Committees Board Meetings Audit Risk & Compliance Remuneration & Nomination Ventures Director (A) (B) (A) (B) (A) (B) (A) (B) (A) (B) Wayne Spanner 12 12 3 2 - - 5 5 1 1 Susan Hansen 12 12 3 3 4 4 5 5 1 1 Warren McLeland 9 9 2 2 2 2 5 5 1 1 Duncan Saville 12 12 - - - - - - 1 1 Caroline Waldron 12 11 3 3 4 4 5 5 - - (A) Number of meetings eligible to attend. Mr. Warren McLeland took a period of extended leave between 18 August 2025 and 31 October 2025 and therefore was not considered for meetings scheduled during that period. (B) Number of meetings attended.
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 9 Results and dividends The information appearing on pages 10 to 15 forms part of the Directors’ Report for the financial year ended 30 June 2026 and is to be read in conjunction with the following information: FY26 FY25 $’000 $’000 Profit Profit attributable to ordinary equity holders of the parent 49,189 34,584 Dividends The following dividends have been paid by the Company or declared by the Directors since the commencement of the financial year ended 30 June 2026: (a) out of the profits for the year ended 30 June 2025 and retained earnings on the fully-paid ordinary shares: • fully-franked special dividend of 12.00 cents (FY24: nil) per share paid on 23 June 2025. • fully-franked final dividend of 3.50 cents (FY24: 3.50 cents) per share paid on 19 September 2025. - 13,8441 47,463 13,9831 (b) out of the profits for the half-year ended 31 December 2025 and retained earnings on the fully-paid ordinary shares: • fully-franked interim dividend of 4.00 cents (HY25: 3.50 cents) per share paid on 24 March 2026. • fully-franked special dividend of 9.00 cents (HY25: nil) per share paid on 24 March 2026 15,8202 35,5963 13,9942 - (c) out of the profits for the full year ended 30 June 2026 and retained earnings on the fully-paid ordinary shares: • fully-franked final dividend of 6.00 cents (FY25: 3.50 cents) per share declared on 25 August 2026. 23,732 13,844 1. The final FY25 dividend paid is net of: $nil (final FY24: $17,404) dividend paid to treasury shares held by the Group, eliminated on consolidation.. 2. The interim FY26 dividend paid is net of $1,182 (interim FY25: $5,877) dividend paid to treasury shares held by the Group, eliminated on consolidation. 3. The special dividend paid on 24 March 2026 is net of $2,659 dividend paid to treasury shares held by the Group, eliminated on consolidation.
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 10 Operating and Financial Review Operational Overview and Strategy Resimac Group Ltd ('Resimac Group') is a leading non- bank lender in Australia and New Zealand providing lending solutions to a wide range of customers and growing businesses. Whether a customer has strong equity, is self-employed, or needs a more flexible approach, Resimac works with brokers and channel partners to match customers with lending that suits their situation. The fully integrated business model comprises originating, servicing and funding prime, non-conforming residential mortgages and asset finance products. The Group has a proven track record of growth and stability which dates to 1985 when operations commenced. Today, the Group is proud to have serviced in excess of 300,000 customers with a portfolio of home loans on balance sheet of $14.7 billion, an asset finance portfolio of $1.8 billion, and total Assets Under Management (AUM) of over $16.5 billion. The Group recognises that our people are its greatest asset. The organisational core values of People first, Own the outcome and Make it happen guide our people’s efforts, define our culture, and shape the way we approach development and change. Principal activities The Group’s principal activity is the provision and servicing of residential mortgage and asset finance lending products, distributed through third-party channels in Australia. It also services residential mortgage customers in New Zealand. The core activities of the Group focus on originating and servicing a high-quality loan portfolio which is supported by a flexible global capital markets funding program. The Group continues to focus on strengthening its core capabilities which include: • Lending products: Leveraging the Group’s deep understanding of the Australian market to offer products that address consumer and SME customer demands, with attractive risk and return profiles; • Distribution: Distributing loans through partnerships with accredited brokers and wholesale channels, ensuring effective reach and market presence; • Treasury and funding expertise: Maintaining strong, long-term relationships with onshore and offshore banking and funding partners provides the Group a diversified funding model. The Group has extensive experience in issuing securities in global and domestic term securitisation markets, bolstering the Group’s financial position; and • Risk management: Operating a comprehensive enterprise risk management and governance framework, following the three lines of defence model. This enables the Group to proactively identify, assess, and mitigate risks, safeguarding the interests of all stakeholders. Principal risks The Group’s key risks include but are not limited to: • Credit risk: The Group is in the business of taking credit risk by offering lending products to its customers in the form of home loans and asset financing. The Group manages this risk by undertaking thorough credit underwriting processes whilst originating loans that are backed by high quality collateral including residential property, automotive vehicles and equipment; • Funding risk: The Group relies on a mix of warehouse facilities, securitisation trusts, and corporate debt to fund loan originations. A reduction in the availability or an inability to access funding when required, could adversely affect the Group’s operations; • Capital and liquidity requirements: There's a potential risk of needing to provide additional 'first loss' equity capital to support senior ranking note holders, impacting profitability, growth, and potentially requiring raising additional capital; • Cybersecurity risk: The Group leverages the National Institute of Standards and Technology (NIST) Cybersecurity Framework to effectively manage cybersecurity risk. The framework’s five core functions support in identifying critical assets, protecting them with appropriate safeguards, detecting potential threats, responding effectively to incidents, and recovering swiftly to minimise business impact; • Reputation Risk: This risk has the potential to significantly affect stakeholder confidence and business sustainability. Comprehensive controls and continuous monitoring are in place to identify, manage, and mitigate reputational risks, ensuring the protection of the Group’s brand and long-term value; • Regulatory and licence compliance: Operating in highly regulated markets, changes in laws or regulations could significantly impact the Group's business. Possessing multiple Australian Credit Licences, any alterations to licensing regimes, license revocations, or failure to obtain necessary licenses could have a material adverse effect on the Group's business, operational, and financial performance. Also to meet the Australian Financial Services Licence requirements, the Group must maintain sufficient liquidity levels;
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 11 • Macroeconomic factors: An economic downturn, including one influenced by geopolitical instability, resulting in materially higher unemployment could affect customers’ ability to maintain loan serviceability, increasing arrears and posing credit risk; • Interest rates: The interest rate environment remained elevated during the financial year, with earlier reductions in the cash rate followed by three increases as inflation pressures re-emerged. Higher borrowing costs continued to place pressure on customer loan serviceability, particularly for borrowers exposed to variable rates or refinancing at higher rates. This may increase the risk of financial difficulty, arrears and hardship; • Climate and extreme weather events: Australia has a track record of extreme weather events, including bushfires and floods, which could impact the underlying security of our loans and advances where customers are affected by these events, including through increased insurance premiums, reduced availability or adequacy of insurance cover, and declines in collateral values; and • Operational: the Group mitigates the possibility of loss resulting from inadequate or failed internal processes, key people, and systems by having adequate workforce planning, training and retention strategies. Continuous process improvement also addresses this risk. Business strategy Resimac’s strategy is centred on becoming the Home of Intelligent Lending. The Group is focused on strengthening customer insight and using technology to improve operational performance, support sustainable long-term shareholder value and deliver better broker and customer experiences. Key priorities include investing in the core Home Loan portfolio, applying AI to improve decisioning and efficiency, growing asset finance in line with sustainable risk-adjusted returns, and embedding a high-performance culture. Debt funding The Group maintains access to a diversified funding platform supported by established funding relationships and the Board approved funding strategy. The following funding channels are used to support the Group’s lending activities and pursuit of its growth strategy: • Corporate debt facility: Utilised for investment in business growth; • Securitisation trusts: Loans that are initially funded via a warehouse facility, are pooled and refinanced by being sold to new funding Special Purpose Vehicles (SPV) that issue limited-recourse independently rated Bonds, such as RMBS and Asset-Backed Securities (ABS) to institutional investors in multiple jurisdictions; and • Warehouse facilities: Third-party funders provide limited-recourse financing to SPVs established by the Group. At 30 June 2026, the Group had several domestic and foreign bank warehouse providers. Sustainability reporting The Group is classified as a Group 1 Reporting Entity under the Corporations Act 2001 and accordingly commenced mandatory climate-related financial reporting from 1 July 2025. On 25 August 2026 the Group released its FY26 Sustainability Report (AASB S2, Climate-related Disclosures) prepared in accordance with the Corporations Act 2001 (Cth), in conjunction with this Financial Report. Review of operations FY26 was a year of strong execution, improved profitability and strategic progress for Resimac. The Group delivered stronger earnings, higher returns and continued growth in its core Home Loan business, while maintaining disciplined risk, funding and capital management practices. Despite a competitive lending environment and continued macroeconomic uncertainty, Resimac strengthened its market position and further enhanced the quality and sustainability of its earnings base. Financial performance Basis of preparation Statutory Net Profit After Tax (NPAT) complies with the requirements of the Corporations Act 2001 (Cth), Australian Accounting Standards (AASB) and International Financial Reporting Standards (IFRS). Normalised NPAT is management’s preferred measure of the Group’s financial performance. Normalised NPAT is calculated as statutory profit (after tax) adjusted for the impact of one-off items, non-recurring costs and fair value movements on derivatives which can introduce volatility into statutory earnings but do not reflect the underlying operating performance of the business. Accordingly, management monitors normalised earnings when assessing performance and making capital allocation decisions. Management believes normalised earnings provide investors with a clearer understanding of the underlying performance of the Group. Headline results The Group delivered a materially stronger financial result in FY26, with improved earnings, stronger returns and continued momentum in its core Home Loan business. Statutory NPAT increased 42% to $49.3 million, while
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 12 normalised NPAT increased 26% to $49.9 million. The statutory NPAT increase reflects both improved underlying operating performance and reduced volatility from non-recurring and fair value adjustment items relative to prior periods. Statutory NPAT is reconciled to normalised NPAT to assist shareholders in understanding the underlying performance of the business. Statutory Statement of Profit and Loss $m FY26 FY25 Change Interest income 1,050.7 1058.0 (1%) Interest expense (858.0) (887.5) (3%) Net interest income 192.7 170.5 13% Other operating income1 5.1 2.0 155% Net operating income 197.8 172.5 15% Operating expenses2 (106.1) (98.4) 8% Operating profit 91.8 74.1 24% Loan impairment expense (21.4) (22.6) (5%) Fair Value gains/(losses) on derivatives 0.2 (4.1) (105%) Fair Value gains on unlisted equity investment - 1.3 (100%) Net profit before tax 70.6 48.7 45% Tax expense (21.3) (14.1) (51%) Statutory NPAT3 49.3 34.6 42% 1. Includes fee and commission income and expense and other income on page 35 2. Includes employee benefits and other expenses on page 35 3. Includes profit attributable to non-controlling interest. Statutory Profit to Normalised Profit reconciliation Statutory NPAT includes the following non-recurring items: FY26 FY25 $’000 $’000 Statutory NPAT attributable to owners of the parent 49,189 34,584 Professional fees and restructuring cost 2,420 4,835 Unrecoverable GST payable (1,200) 1,200 Gain on modification of office lease (25) (1,592) Office lease make good provision - 373 Dividend income from listed equity investment - (384) Fair value gains on unlisted equity investment - (1,290) Fair value gains/losses on derivatives (215) 4,115 Tax effect of normalised items (293) (2,153) Normalised NPAT attributable to owners of the parent 49,876 39,688 Non-cash items include: • Professional fees relating to the ASIC matter and redundancy costs. Make good provision is a one- off provision on lease commencement. These are adjusted from operating expenses to arrive at normalised operating expenses. • Unrecoverable GST relating to the ATO GST review. This expense in FY25 was fully reversed in FY26 after the successful conclusion of the review. This is adjusted in operating expenses to arrive at normalised operating expenses. • Nonrecurring gain on modification of office lease, dividend income from listed equity investment, fair value gains on unlisted equity investments of $nil (FY25: $3.3m) are adjusted from other operating income to arrive at the normalised other operating income. • Fair value gains/ losses on derivatives reflect the volatility due to timing differences between fair value movements on qualifying economic hedges and the underlying exposure . To qualify as an economic hedge, the terms and/ or risk profile must match substantially the same as the underlying exposure. This volatility is normalised to reflect the business underlying performance.
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 13 The resultant normalised key metrics are as follows: FY26 FY25 Change Normalised net interest income ($m) 192.7 170.5 13% Normalised other operating income ($m) 5.1 (1.3) 492% Normalised net operating income ($m) 197.8 169.2 17% Normalised operating expenses ($m) (104.9) (90.6) 16% Normalised operating profit ($m) 92.9 78.6 18% Loan impairment expense ($m) (21.4) (22.6) (5%) Normalised net profit before tax ($m) 71.5 55.9 28% Normalised NPAT ($m) 49.9 39.7 26% Cost-to-income ratio (%) 53.0% 53.6% 60bps Normalised ROE (%) 13.6% 10.1% 350bps Home Loan settlements ($bn) 5.9 4.9 20% Asset Finance settlements ($bn) 0.8 0.9 (11%) Home Loan AUM ($bn) 14.7 13.4 10% Asset Finance AUM ($bn) 1.8 2.5 (28%) RMBS and ABS issuance ($bn) 5.5 4.3 28% Results review The review below is based on normalised earnings. Normalised operating income increased 17% to $197.8 million (FY25: $169.2 million), supported by growth in average Asset Under Management (AUM), higher fee income and the full-year contribution from the Westpac Auto portfolio. Normalised operating expenses increased 16% to $104.9 million (FY25: $90.6 million). The increase reflects continued investment in people, technology, data capabilities and strategic initiatives designed to support future growth and improve operating scalability. Importantly, income growth exceeded expense growth during the year, resulting in improved operating leverage across the business. As a result, normalised operating profit increased 18% to $92.9 million (FY25: $78.6 million). The increase was driven by growth in average Home Loan AUM, improved funding economics, the full-year contribution from the Westpac Auto portfolio and higher fee income associated with increased lending activity. These benefits more than offset ongoing investment expenditure and competitive market conditions. The Group's cost-to-income ratio improved to 53.0% from 53.6% in FY25, demonstrating the benefits of scale and disciplined cost management despite continued investment in future capability. Total loan impairment expense reduced to $21.4 million (FY25: $22.6 million), reflecting improved recovery outcomes and disciplined portfolio management, partially offset by provisioning requirements associated with portfolio growth and changes in portfolio mix. Normalised profit before tax increased 28% to $71.5 million (FY25: $55.9 million), while normalised NPAT increased 26% to $49.9 million (FY25: $39.7 million). Return on Equity (ROE) improved to 13.6% from 10.1% in the prior year, reflecting stronger profitability and improved capital efficiency. The FY26 result reflects the benefits of continued Home Loan growth, disciplined funding and pricing management, targeted investment in strategic capability and the ongoing optimisation of the Group's capital structure. These initiatives contributed to stronger profitability, higher returns and improved earnings quality. Key drivers of FY26 performance The improvement in FY26 earnings was driven by several key factors: Home loan growth Home Loan settlements increased 20% to $5.9 billion, contributing to a 9% increase in Home Loan AUM to $14.7 billion. Higher average balances were a significant contributor to growth in net interest income and operating profits during the year. Funding and margin management The Group continued to benefit from strong access to capital markets, issuing $5.5 billion of Residential Mortgage-Backed Securities (RMBS) and Asset Backed Securities (ABS) securities during FY26. Funding margin improvements supported profitability and contributed to a 5 basis points increase in Group net interest margin to 159 basis points despite ongoing competitive pressure across the Home Loans market. These outcomes demonstrate the value of Resimac's long-standing funding platform and diversified capital markets access. Westpac Auto portfolio The full-year contribution from the Westpac Auto portfolio represented an important contributor to FY26 earnings growth. The portfolio was acquired on 28 February 2025 and contributed 4 months to FY25 results. While the portfolio continues to run off in line with expectations, management remains focused on replacing portfolio earnings through continued Home Loan growth, funding
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 14 optimisation, productivity initiatives and higher-return Asset Finance originations. Operating leverage Revenue growth outpaced expense growth despite continued investment in technology, people and strategic capability. This resulted in improved operating leverage and a lower cost-to-income ratio compared with FY25. Operating segments Home Loans Home Loans remain Resimac's largest business segment, core strategic priority and primary driver of earnings growth. During FY26, continued investment in proposition enhancement, broker experience and operational efficiency supported both growth and improved competitive positioning. Home Loan settlements increased 20% to $5.9 billion, supported by strong application volumes, deep broker relationships and continued execution of initiatives aimed at improving customer and broker experience. As a result, Home Loan AUM increased 9% to $14.7 billion at 30 June 2026. Average AUM increased to $13.8 billion (FY25:13.0 billion) during the year, supporting growth in operating income and profitability. The Group continued to focus on sustainable growth while maintaining prudent underwriting standards and disciplined pricing. Portfolio quality remained strong, with a weighted average dynamic LVR of 62.2% and approximately 60% of accounts within the 0-60% LVR band. The portfolio remains diversified across Prime and Non-conforming segments, providing resilience through varying economic conditions. Management continues to invest in initiatives designed to streamline broker interactions, improve turnaround times and enhance customer experience, supporting future growth and operating scalability. Asset Finance During FY26, the Group continued repositioning its Asset Finance portfolio towards higher risk-adjusted return segments, prioritising profitability, portfolio quality and long-term earnings sustainability over volume growth. While Asset Finance settlement volumes moderated during the year, this reflected a deliberate strategic focus on portfolio quality and long-term profitability rather than volume growth. Origination activity was increasingly directed toward higher-return products and customer segments. These actions contributed to a 13 basis points improvement margin during FY26, supporting stronger risk-adjusted returns and improved profitability. While reported Asset Finance AUM decreased 28% to $1.8 billion due to the expected run-off of the Westpac Auto portfolio, underlying Resimac originated Asset Finance AUM grew 7% to $1.5 billion, reflecting continued momentum in the core business. The Westpac Auto portfolio continued to contribute positively to earnings during FY26 while running off in line with expectations. The Group remains focused on optimising returns from the portfolio while continuing to grow strategically attractive asset finance segments, including commercial auto and secured business lending. Credit quality and provisioning Resimac maintained a prudent approach to credit risk management throughout FY26. Total loan impairment expense reduced to $21.4 million from $22.6 million in FY25 despite continued portfolio growth. Provisioning levels remained responsive to portfolio performance, macroeconomic conditions and emerging risk indicators. Management remains satisfied that provisioning coverage remains appropriate given current portfolio characteristics and economic conditions. Portfolio quality remains supported by conservative Home Loan underwriting standards, strong dynamic LVRs and arrears outcomes that continue to compare favourably against industry peers. Asset Finance provisioning also remains prudent, reflecting the distinct risk characteristics of the portfolio and management's continued focus on collections and recoveries performance. Funding and liquidity Funding remains a significant competitive advantage for the Group and an important enabler of sustainable growth and profitability. Continued improvements in funding margins supported lower cost of funds and contributed positively to overall portfolio economics during FY26. During FY26, Resimac completed $5.5 billion of RMBS and ABS issuance, comprising $5.0 billion of RMBS and $0.5 billion of ABS transactions. Aggregate bond issuance has now exceeded $56 billion since inception. The Group continued to benefit from deep and diversified access to capital markets, supporting portfolio growth, funding resilience and competitive funding costs.
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DIRECTORS’ REPORT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 15 The Group remains well-funded and maintains appropriate liquidity and funding capacity to support future business growth across both Home Loans and Asset Finance. Capital Management and Shareholder Returns During FY26, the Group continued to actively optimise its capital position through a combination of ordinary dividends, special dividends and repayment of the remaining NIM Bond corporate debt facility. The final dividend was increased to 6.0 cents per share, resulting in a full-year ordinary dividend of 10.0 cents per share, up 43% on FY25. Together with the fully franked special dividend of 9cps, these initiatives enhanced capital efficiency, reduced structural funding costs and delivered meaningful value to shareholders while maintaining capacity to support future growth. Following payment of the FY26 final dividend, the Group will retain approximately $103.3 million of franking credits, supporting approximately $241 million of future fully franked dividends. This provides significant flexibility for future capital management initiatives and shareholder returns. Regulatory matters In May 2025, ASIC commenced civil penalty proceedings against the Group alleging contraventions in relation to hardship notices under the National Consumer Credit Protection Act (NCCP Act). The proceedings involve allegations that the Group contravened its conduct obligations under section 47 of the NCCP Act principally in relation to its systems and procedures concerning customers in assessing hardship notices. As this matter is now before the court, no further disclosures have been made or included in this report. Indemnification of officers and auditors During the financial year, the Company paid a premium to a related party in respect of a contract insuring the Directors of the Company, the Company Secretary and all executive officers of the Company against a liability incurred as such a Director, Secretary or executive officer to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. The Company has not otherwise, during or since the financial year, except to the extent permitted by law, indemnified or agreed to indemnify an officer or auditor of the Company against a liability incurred. Subsequent events Final dividend declared The Board of Resimac Group Ltd has declared a fully franked final dividend of $0.06 per share. The record date will be 4 September 2026. The payment date will be 18 September 2026. The dividend has not been provided for in this financial report. Non-audit services Details of amounts paid or payable to the auditor for non- audit services provided during the year by the auditor are outlined in Note 27 to the financial report. The Directors are satisfied that the provision of non-audit services during the year, by the auditor is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001. The Directors are of the opinion that the services as disclosed in Note 27 to the financial report do not compromise the external auditor’s independence, based on advice received from the Audit Committee, for the following reasons: • All non-audit services have been reviewed and approved to ensure that they do not impact the integrity and objectivity of the auditors; and • None of the services undermine the general principles as set out in APES Code of Ethics for Professional Accountants issued by the Accounting Professional and Ethical Standards Board, including reviewing or auditing the auditor’s own work, acting in a management or decision-making capacity for the Company, acting as advocate for the Company or jointly sharing economic risks and rewards. Auditor’s independence declaration The auditor’s independence declaration is included on page 124 of this financial report. Rounding off amounts Unless otherwise indicated, the Company has rounded off amounts in this Directors’ Report and the accompanying financial statements to the nearest thousand dollars in accordance with ASIC Corporations Instrument 2026/183. Significant changes in the state of affairs In the opinion of the Directors, there have been no significant changes in the state of affairs of the Group during the year, except as otherwise noted in this report.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 16 Contents Section Details Page 1 Summary 17 2 Remuneration Objectives, Strategy and Principles 17 3 Key Management Personnel 18 4 KMP Remuneration Approach (excluding Non-Executive Directors) 19 5 Short-Term and Long-Term Incentive plans 20 6 Overview of Company Performance 23 7 Statutory Remuneration 24 8 Non-Executive Director Remuneration 26 9 Other Remuneration Information 30
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 17 1. Summary This Remuneration Report provides shareholders with an overview of Resimac Group Ltd’s (the Group) remuneration strategy and framework that applies to the Group’s Key Management Personnel (KMP) for the year ended 30 June 2026. Resimac exists to help people buy homes, grow businesses and take on new opportunities. Our vision and mission are clear: to be the home of intelligent lending. 2. Remuneration Objectives, Strategy and Principles At Resimac we recognise our people are our greatest asset and that an engaged workforce is essential for the achievement of Resimac’s strategic objectives. The Group is committed to rewarding its people with remuneration and benefits that are commensurate with their individual responsibilities and position within the business , and competitive within the market. We seek to create a link between organisational performance and values and our people’s remuneration and reward. The Board’s remuneration strategy seeks to reinforce this link by focusing on the following objectives: • Attraction, motivation and retention of high calibre employees; • Provision of fair and equitable remuneration to all employees in line with the Group’s Diversity, Equity & Inclusion Policy; • Promotion and recognition of employee behaviours that are in the interest of all stakeholders (including customers and shareholders); • Encouragement of effective risk management and demonstration of appropriate behaviours, values and ethics; and • Reinforcement of a culture of continuous employee growth and knowledge. The following principles provide the basis of the remuneration framework at Resimac: • Resimac remunerates its employees in a manner that is market competitive whilst being acceptable to its shareholders; • Total remuneration for KMP is achieved by a balance of fixed and variable components; • Key Performance Measures for Resimac management are linked to both financial and non-financial measures, and are designed to be in the best interest of all stakeholders including customers and shareholders; • Fixed and variable remuneration for KMP is periodically benchmarked to ensure remuneration is in line with the external market; and • Pay equity is paramount. Fair and equitable remuneration is applied to all employees regardless of gender, sexual identity, age, religion, ethnicity or disability.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 18 3. Key Management Personnel The KMP are the people who have the authority and responsibility for planning, directing, implementing and controlling the activities of the Resimac business. The KMP are: Name Position Term as KMP Current Pete Lirantzis Chief Executive Officer (CEO) Full Term Andrew Marsden Chief Treasury Officer (CTO) Full Term James Spurway Chief Financial Officer (CFO) Full Term 1 1. On 24 April 2026, Mr. James Spurway resigned from his role as the Chief Financial Officer of Resimac. Mr. James Spurway t ook a period of leave before his employment contract ended on 23 July 2026. The Directors classified as KMP and required to be disclosed as part of this report are: Name Position Term as KMP Current Wayne Spanner Chair, Independent Non-Executive Director Full Term Warren McLeland Deputy Chair, Independent Non-Executive Director Full Term Susan Hansen Non-Executive Director Full Term Duncan Saville Non-Executive Director Full Term Caroline Waldron Independent Non-Executive Director Full Term
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 19 4. KMP Remuneration Approach (excluding Non-Executive Directors) The Board views the remuneration outcomes as being aligned to stakeholder interest, business performance and individual performance against KPIs and strategic goals. The Board’s Remuneration & Nomination Committee assists with reviewing and recommending remuneration arrangements for KMP that is both consistent with, and competitive within, the relevant market. The total remuneration of the KMP comprises a fixed component and an at-risk variable component. Remuneration is based on: • The responsibilities of the role in which the person is employed (i.e. accountability, responsibility, qualifications, skills and experience required); • periodic market benchmarking; • performance against set Key Performance Indicators (KPIs); • achievement of performance hurdles which includes tenure; • regulatory compliance; and • company performance. 4.1 KMP Fixed Remuneration (excluding Non-Executive Directors) The fixed component of the KMP remuneration includes base salary plus any other fixed elements such as superannuation, salary sacrifice and benefits and is known as Total Fixed Remuneration (TFR). Annually the TFR for the role in which the KMP are performing is considered by the Remuneration and Nomination Committee which then makes final recommendations to the Board. 4.2 KMP Variable Remuneration Framework (excluding Non-Executive Directors) Variable remuneration is a means to provide at-risk remuneration which rewards executives for their performance against set criteria. The objectives and criteria are designed to align with near term, mid -term and long-term strategy, ensuring value creation for shareholders.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 20 5. Short-Term and Long-Term Incentive plans 5.1 Short-Term Incentive Plan (STI Plan) Chief Executive Officer STI Plan and KPI metrics Mr. Lirantzis is eligible for an annual STI of up to 100% of base salary, upon the achievement of agreed KPIs. In the FY25 performance period, the STI was paid as a single lump-sum payment. From the FY26 performance period onwards, any incentive will be paid in 2 instalments, with 40% of the incentive being deferred for 12 months . The deferred amount is only payable on the following conditions: • Mr. Lirantzis being employed by Resimac at the payment date (unless the Board determines otherwise); • The Board being satisfied that the KPIs for the relevant financial year have been sustained or that there have been no material adverse changes in Resimac’s financial performance and risk outcomes; and • The Board being satisfied that Mr. Lirantzis has not breached his employment contract, code of conduct or statutory or regulatory obligations. Other KMP STI Plan and KPI metrics KMP participate in the annual STI plan whereby they have an opportunity to earn a percentage of their base salary. The performance of KMP is measured against KPIs by the CEO at the end of the performance period. The Remuneration & Nominations Committee measures KMP performance against the set KPI objectives and approves any STI awarded at the end of each performance period. The amount of an STI award will depend on whether and to what e xtent those objectives are achieved. The STI assessment is undertaken in July of each year and any award is payable in September of the same year. From the FY26 performance period onwards, any incentive will be paid in 2 instalments, with 40% of the incentive being deferred for 12 months. The deferred amount is payable on the basis that the KMP is employed by Resimac at the payment date, and neither party has given notice to terminate the KMP employment. A balanced scorecard framework is used to set the KPIs considered in the assessment of any award. These KPIs include: • Financial metrics (i.e. return on equity, operating profit and AUM); • Customer metrics (i.e. broker/channel sentiment and customer sentiment); • Internal process metrics (i.e. cost to income ratio, loan impairment expense and regulatory compliance); and • Learning and growth metrics (i.e. high-performance culture and operational efficiency)
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 21 5. Short-Term and Long-Term Incentive plans (continuation) 5.2 Long-Term Incentive Plan (LTI Plan) FY20 LTI Plan: KMP and General Managers The Board established an LTI Plan for the Ex-CEO, KMP and eligible executives pursuant to the Resimac Group Ltd Employee Share Option and Rights Plan Rules. The Ex-CEO, KMP and eligible executives were offered options over ordinary shares, and a combined total cash component of up to $2,400,000. 3,900,000 options were granted on 15 August 2019 (900,000 allocated to the Ex-CEO and 375,000 for each eligible executive). All options vested on 31 August 2022, and the vested options were required to be exercised no later than 31 August 2025. 385,000 vested options that remained outstanding to be exercised at 30 June 2025 expired on 31 August 2025. As at 30 June 2026, there were no options outstanding from this plan. FY25 LTI Plan: KMP and Senior Employees The Board established an LTI plan for eligible senior employees pursuant to Resimac Group Ltd’s LTI Share Options and Rights Plan Rules. A total of 2,180,000 rights over ordinary shares were granted on 1 July 2024. The vesting date for all rights is 31 August 2027, subject to the Group achieving the following conditions: • Participants remaining employed with the Group until the vesting date. • Share Price performance condition; • No material regulatory event has occurred during the vesting period; • Technology strategy/innovation hurdles; • Accelerated digitisation hurdles; • Data security improvement hurdles; and • AUM/new product growth hurdles. 1,830,000 unvested rights remained outstanding at 1 July 2025. 570,000 rights were forfeited during the period and 1,260,000 unvested rights remained outstanding as at 30 June 2026. FY26 LTI Plan: CEO The Board established an LTI plan for the CEO pursuant to Resimac Group Ltd’s LTI Share Options and Rights Plan Rules. The CEO received a total of 700,000 rights over ordinary shares. The rights were granted on 30 September 2025 and the vesting date for all rights is 30 September 2028, subject to the Group and CEO achieving the following performance conditions: • Remaining employed with the Group until the vesting date. • Share Price performance condition; • No material regulatory event has occurred during the vesting period; • Financial metrics (i.e. total shareholder return, return on equity, operating profit and AUM) ; • Customer metrics (i.e. channel sentiment and customer sentiment); • Internal process metrics (i.e. operational efficiency and regulatory compliance); and • Learning and growth metrics (i.e. high-performance culture)
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 22 5. Short-Term and Long-Term Incentive plans (continuation) The table below provides the details of options issued under the Long-Term Incentive Plan: FY20 LTI Plan: KMPs and Executives (Share Options) Granted to Number of options Grant date Fair value at grant date ($) Exercise price of option ($) Vesting date Expiry date Options forfeited/ exercised prior to 1 July 2025 Number of options held at 1 July 2025 Options forfeited during the year Number of options held at 30 June 2026 Ex-CEO 900,000 15 Aug 2019 0.20 0.65 31 Aug 2022 31 Aug 2025 (900,000) - - - Other KMPs 3,000,000 15 Aug 2019 0.20 0.65 31 Aug 2022 31 Aug 2025 (2,615,000) 385,000 (385,000) - 3,900,000 (3,515,000) 385,000 (385,000) - FY25 LTI Plan: KMPs and Senior Employees (Share Grants) Granted to Number of grants Grant date Fair value at grant date ($) Vesting date Expiry date Options forfeited/ exercised prior to 1 July 2025 Number of options held at 1 July 2025 Grants forfeited during the year Number of grants held at 30 June 2026 Number of grants vested at 30 June 2026 Number of grants unvested at 30 June 2026 Pete Lirantzis 250,000 1 Jul 2024 0.24 31 Aug 2027 n/a - 250,000 - 250,000 - 250,000 Andrew Marsden 250,000 1 Jul 2024 0.24 31 Aug 2027 n/a - 250,000 - 250,000 - 250,000 James Spurway 250,000 1 Jul 2024 0.24 31 Aug 2027 n/a - 250,000 (250,000) - - - Other Senior Employees 1,430,000 1 Jul 2024 0.24 31 Aug 2027 n/a (350,000) 1,080,000 (320,000) 760,000 - 760,000 2,180,000 (350,000) 1,830,000 (570,000) 1,260,000 - 1,260,000 FY26 LTI Plan: CEO (Share Grants) Granted to Number of grants Grant date Fair value at grant date ($) Vesting date Expiry date Number of options held at 1 July 2025 Number of grants granted during the year Grants forfeited during the year Number of grants held at 30 June 2026 Number of grants vested at 30 June 2026 Number of grants unvested at 30 June 2026 Pete Lirantzis 700,000 30 Sep 2025 0.46 30 Sep 2028 30 Sep 2029 - 700,000 - 700,000 - 700,000 700,000 - 700,000 - 700,000 - 700,000
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 23 6. Overview of Company Performance The table below summarises details of Resimac’s performance for key financial measures over the past five financial years. There were no share buybacks in FY26 (FY25: 4,745,988 shares). Financial year ended 30 June FY26 FY25 FY24 FY23 FY22 Statutory NPAT ($’000) 1 49,189 34,584 34,590 66,446 102,147 Total dividends per share (cents) 2 7.50 7.00 7.50 8.00 8.00 Dividend payout ratio (%) 2 60.3 80.9 87.0 48.4 32.0 Basic earnings per share (cents) 12.44 8.67 8.65 16.52 25.05 Return on equity (ROE) (%) 3 13.4 8.9 8.3 16.4 29.9 Return on assets (%) 4 2.8 2.1 2.3 4.4 6.1 Share price at 30 June ($) 0.82 0.85 0.86 0.92 1.15 1. NPAT excludes non-controlling interest (FY26: $126k, FY25: nil). 2. Dividends per share and dividend payout ratio are calculated on ordinary dividends paid during the financial year. Special dividend of 9 cents (FY25: 12 cents) per share paid during the year is excluded from this calculation. 3. ROE based on normalised NPAT and average shareholders’ equity per consolidated statement of financial position . 4. ROA based on statutory NPAT and total assets. As a result of the requirement under AASB 10 – Consolidated Financial Statements, the parent company exercises control over the Special Purpose Vehicles (SPVs) and securitisation trusts, therefore significant assets have been added to the consolidated s tatement of financial position without any appreciable increase in net profit.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 24 7. Statutory Remuneration The table set out below provides a summary of the actual remuneration awarded to KMP in respect of the full year ended 30 Jun e 2026. Short-term benefits Post- employment benefits Long-term benefits Share-based payments3 Total Salary STI awarded Non- monetary benefits Super- annuation Leave1 Termination benefits2 Share rights Percentage performance related4 Percentage rights related ($) ($) ($) ($) ($) ($) ($) ($) (%) (%) CURRENT KMP Pete Lirantzis5 FY26 700,000 413,000 - 30,000 12,773 - 96,290 1,252,063 33.0 7.7 FY25 575,000 500,000 - 30,000 11,801 - 34,153 1,150,954 43.4 5.2 Susan Hansen6 FY26 - - - - - - - - - - FY25 454,141 337,500 - 34,979 - 23,404 - 850,024 39.7 0.0 Andrew Marsden FY26 373,548 150,000 10,000 31,475 3,892 - 16,490 585,405 25.6 2.8 FY25 382,038 90,000 10,000 30,000 8,839 - 34,153 555,030 16.2 6.2 James Spurway7 FY26 410,000 - - 30,385 7,048 - - 447,433 - - FY25 397,500 75,000 - 30,000 6,625 - 34,153 543,278 13.8 6.3 Scott McWilliam8 FY26 - - - - - - - - - - FY25 107,917 - - 7,477 - 867,532 - 982,926 0.0 0.0
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 25 7. Statutory Remuneration (continuation) Short-term benefits Post- employment benefits Long-term benefits Share-based payments3 Total Salary STI awarded Non- monetary benefits Super- annuation Leave1 Termination benefits2 Share rights Percentage performance related4 Percentage rights related ($) ($) ($) ($) ($) ($) ($) ($) (%) (%) Majid Muhammad9 FY26 - - - - - - - - 0.0 0.0 FY25 173,923 - - 14,978 - 359,889 - 548,790 0.0 0.0 TOTAL FY26 1,483,548 563,000 10,000 91,860 23,713 - 112,780 2,284,901 FY25 2,090,519 1,002,500 10,000 147,434 27,265 1,250,825 102,459 4,631,002 1. Long-term benefits relate to long service leave accrued during the year. 2. Termination benefits include annual leave entitlements paid on termination or on completion of term. 3. Share based payment expense related to FY25 and FY26 LTI share rights granted to KMP. 4. The percentage performance related column is the STI divided by the total remuneration, reflecting the actual percentage of r emuneration at risk for the year. 5. Pete Lirantzis was appointed as Chief Executive Officer with effect from 30 April 2025. 6. Susan Hansen served as Interim CEO from 09 July 2024 to 29 April 2025. 7. James Spurway resigned from his role on 24 April 2026. His last day of employment was on 23 July 2026. 8. Scott McWilliam resigned with effect from 01 Sep 2024. 9. Majid Muhammad resigned with effect from 30 November 2024.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 26 8. Non-Executive Director Remuneration 8.1 Overview of Non-Executive Directors’ Remuneration Arrangements 8.1.1. Policy objectives • To be market competitive: aim to set Directors’ fees to be competitive with Non-Executive Directors in comparable businesses with respect to product mix, market capitalisation, geographical market and employee size; • To ensure complementary skills: aim to ensure that the mix of Directors at any one time is diverse and adequate to carry out the objectives of the business; and • To safeguard independence: to exclude any performance related element in order to preserve the independence of the Non-Executive Directors. 8.1.2 Aggregate fees approved by shareholders At the Annual General Meeting (AGM) of shareholders held on 16 November 2021, the shareholders approved an increase to the maximum aggregate fee pool per annum for non-executives to $800,000. 8.1.3 Regular reviews of Directors’ fees The Board reviews the level of Directors’ fees annually to ensure the fees are in line with market and are suitable for the level of skill and expertise required to carry out the duties of Directors in a listed environment in conjunction with holdin g an Australian Financial Services Licence and several Australian Credit Licences. The agreed fee structure is that a fee is paid to reflect the Chairman’s responsibilities. Each Director receives a base fee and if a Director chairs a Board committee, an additional fee is applied. Superannuation is payable in addition to the base fee where a Director is paid via the Resimac employee payroll system. The Remuneration & Nominations Committee met in August 2025 to review the Directors fees and recommended that the Board increase fees in FY26. The increased fees were effective from 1 July 2025. Refer to 8.1.6 for actual fees paid/payable to Directors for FY26.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 27 8. Non-Executive Director Remuneration (continuation) 8.1.4 Board Evaluation Reporting The Board is committed to transparency in determining Board membership and in assessing the performance of Directors. The Board undertakes periodic performance reviews. The Board conducted an independent evaluation in the second half of FY25 and is committed to the implementation of various recommendations. By rotation a Director is also responsible for the assessment of each Board meeting and the collation of feedback and any change recommendations arising out of Board meetings. The purpose of this is to assess the performance of the Board as a whole with respect to time keeping, relevance, preparation and outcomes. In addition, the Board (with the assistance of the Remuneration and Nominations Committee) conducts a review of the performance of each Director seeking re-election at any Annual General Meeting. The performance of a Director is assessed against a range of criteria including: • Contribution at meetings; • Understanding the major risks affecting the Group; • Contributing to the development of the strategy; • Committing the time required to fulfill the role and perform their responsibilities effectively; • Listening and respecting the ideas of fellow Directors and management: and • Consistently taking the perspective of creating shareholder value. 8.1.5 Board skills and behaviours In order to sustain strong corporate governance, it is essential that the Board continues to assess its own skills and abilities and ensure that it can support the future state of Resimac, specifically around governance. Periodically and at least every two years the Board undertakes an assessment of the skills that each Director holds which is then summarised in a skills matrix. Although it is not expected that all Directors will have the same skills and behaviours, the purpose of the matrix is to create a balance of perspectives and diversity of thought within the Board. The assessment of skills and behaviours ties into Board succession and selection of Directors. A Board Skills Matrix assessment was completed in FY26. As part of this, the skills and behaviours were reviewed to ensure their fitness for purpose in line with the evolving commercial and regulatory context of Resmiac’s business. The updated skills matrix and behaviours include: • Industry and Technical expertise: o Financial services industry experience o Credit risk and portfolio management o Funding securitisation and capital markets • Governance and listed company experience: o ASX experience o CEO, Managing Director, executive and board experience o Governance • Risk, Regulation and Compliance: o Risk management (enterprise-wide) o Regulatory compliance and conduct risk • Customer and Market Perspective: o Customer outcomes and experience o Marketing and business development o Stakeholder and investor relations
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 28 8. Non-Executive Director Remuneration (continuation) • Technology, Data and Transformation: o Technology, data and cyber security o Transformation and change • Strategy and Financial Oversight: o Strategic and commercial acumen o Financial acumen o Capital management • People, Culture and Sustainability: o People, culture & remuneration o Health, safety & environment o ESG, sustainability and climate risk.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 29 8. Non-Executive Director Remuneration (continuation) 8.1.6 Non-Executive Director Remuneration The fees paid or payable to the Non-Executive Directors in relation to FY26 are set out below: Short-term benefits Post -employment benefits Current Fees Superannuation1 Total $ $ $ Wayne Spanner FY26 155,000 18,600 173,600 FY25 143,268 16,475 159,743 Warren McLeland FY26 102,000 12,240 114,240 FY25 119,537 13,747 133,284 Susan Hansen2,3 FY26 113,500 13,620 127,120 FY25 47,854 4,203 52,057 Duncan Saville FY26 94,000 - 94,000 FY25 74,900 - 74,900 Caroline Waldron2 FY26 108,000 12,960 120,960 FY25 117,808 12,104 129,912 Total remuneration FY26 572,500 57,420 629,920 FY25 503,367 46,529 549,896 1. Australian superannuation is paid where applicable. New Zealand Kiwisaver is not paid. 2. A portion of FY25 remuneration was paid in NZD. 3. Appointed as Interim CEO from 09 July 2024 to 30 April 2025. Was a Non-Executive Director until 09 July 2024 and since 30 April 2025, and an Executive Director from 09 July 2024 to 29 April 2025.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 30 9. Other Remuneration Information 9.1 Remuneration governance 9.1.1 Remuneration Governance and Responsibility The Resimac Board of Directors has responsibility for setting and overseeing the Company’s remuneration policies, practices and structure. The Board considers recommendations made by the Remuneration and Nomination Committee. The remuneration framework and matters considered by the Remuneration and Nomination Committee and the Board include: • Review of Board size and composition (mix of skills, qualifications, experience, independence, diversity and other competencies); • Identification and recommendation of candidates to the Board for nomination as members of the Board or its Committees; • Development and implementation process for induction and orientation of new Directors; • Review and approval of Company objectives and appropriate KPIs relevant to the KMP annual short -term incentive arrangement, and evaluate KMP performance in light of those KPIs; • Review and approval of the remuneration of KMP, Directors and senior management (including total fixed remuneration, short-term incentives and long-term incentives); • Approval of executive recruitment practices; • Succession planning and talent management; • Diversity, equity and inclusion in the workplace; and • Oversight of the Resimac Code of Ethics 9.1.2 Remuneration and Nomination Committee The Board has established a Remuneration and Nomination Committee. This Committee has a formal charter and is available on the Company’s website www.resimac.com.au. The Remuneration and Nomination Committee members are: • Wayne Spanner – Chair; • Susan Hansen; • Warren McLeland; and • Caroline Waldron. The Remuneration and Nomination Committee reviews and makes recommendations to the Board on remuneration governance, policies, practices and structure which will apply to KMP, senior management and non -executive Directors. The Committee also makes recommendations to the Board on the Company’s overall remuneration framework. The Remuneration and Nomination Committee receives regular reports from Human Resources and ensures it is abreast of all regulatory change. The Committee meets at least 4 times per year. 9.1.3 Services from remuneration consultants The Company did not engage remuneration consultants for any services in FY26.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 31 9. Other Remuneration Information (continuation) 9.1.4 KMP share ownership The table below sets out the number of shares held directly, indirectly or beneficially by the current and former KMP (including their related parties): Name Held at 1 July 2025 Net change Held at 30 June 2026 Non-Executive Directors Wayne Spanner 15,732 30,337 46,069 Warren McLeland 12,130,165 - 12,130,165 Susan Hansen 212,738 - 212,738 Duncan Saville 254,736,3531 - 254,736,353 Caroline Waldron - - - 267,094,988 30,337 267,125,325 Other KMP Pete Lirantzis 9,316 94,171 103,487 Andrew Marsden - - - James Spurway2 - - - 9,316 94,171 103,487 Total 267,104,304 124,508 267,228,812 1. 150,000 shares purchased in FY25 was not reflected in the FY25 report and has been adjusted for in the opening balance above. 2. James Spurway resigned from his role on 24 April 2026. His last day of employment was on 23 July 2026 9.1.5 Share trading restrictions Resimac Securities Trading Policy reflects the Corporations Act 2001 prohibition on KMP and their closely related parties entering into any arrangement that would have the effect of limiting KMP exposure to risk relating to an element of their remuneration that remains subject to restrictions on disposal. Resimac’s Directors and management team, and members of their immediate family and controlled entities are also required to obtain written consent and clearance for security trading during trading windows from the Chair. All other employees must adhere to the Securities Trading Policy and are restricted from trading within the blackout periods. The policy is available on the Corporate Governance section of the Company’s website at www.resimac.com.au. Breaches of the policy are subject to disciplinary action, which may include termination of employment.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 32 9. Other Remuneration Information (continuation) 9.1.6 Further information on remuneration 9.1.6.1 Service agreements Each KMP has entered into an employment contract with Resimac Limited. These contracts have unlimited duration however may be terminated with relevant notice as set out below unless in the case of serious misconduct in which the KMP may be terminated immediately. All KMP are entitled to receive payment in lieu of any accrued statutory entitlement (i.e. annual and long service leave) on cessation of their employment. Name Notice period/termination payment Pete Lirantzis Six months’ notice (or payment in lieu) May be terminated immediately for serious misconduct Andrew Marsden Three months’ notice (or payment in lieu) May be terminated immediately for serious misconduct James Spurway1 Three months’ notice (or payment in lieu) May be terminated immediately for serious misconduct 1. James Spurway resigned from his role on 24 April 2026. His last day of employment was on 23 July 2026 9.1.7 Related party transactions Loans to KMP and their related parties are secured residential mortgage and auto finance loans provided in the ordinary course of the Group’s business. All loans have normal commercial terms. No amounts have been written down or recorded as specific provisions as the balances are considered fully collectable. Details regarding loans outstanding to KMP and their related parties during the reporting period, are outlined below. Name Balance 1 July 2025 $ Balance 30 June 2026 $ Interest payable for the year1 $ Highest Balance during the year $ Non-Executive Director Duncan Saville2 18,206,687 27,756,392 1,415,300 31,475,227 Senior executive Andrew Marsden 171,564 44,025 7,307 171,574 18,378,251 27,800,417 1,422,607 31,646,801 1. Interest is charged on an arm’s-length basis. 2. Total loan outstanding is made up of 6 separate loans granted to Mr. Saville and his related parties.
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DIRECTORS’ REPORT REMUNERATION REPORT 2026 (AUDITED) RESIMAC GROUP LTD FINANCIAL REPORT 2026 33 9. Other Remuneration Information (continuation) 9.1.7.1 Other transactions and balances with KMP From time to time, Directors of the Company or its controlled entities, or their Director -related entities may obtain loans or ad hoc services from the Group, on the same terms and conditions as those entered into by other group employees or customers. In FY26, Director-related entities, Somers Limited and UIL Limited obtained short-term loans amounting to $25,000,000 and $15,000,000 respectively on market terms from the Group. These loans were fully repaid during FY26 and there were no balances outstanding at 30 June 2026. In FY26, the Group obtained Professional Indemnity and Directors & Officers Liability insurance from a Director-related entity, General Provincial Insurance Ltd. for an annual premium of $1,250,000.
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DIRECTORS’ REPORT RESIMAC GROUP LTD FINANCIAL REPORT 2026 34 This Directors’ report, including the remuneration report, is signed in accordance with a resolution of the Directors made pursuant to s.298 (2) of the Corporations Act 2001. On behalf of the Directors of Resimac Group Ltd Wayne Spanner Chair and Independent Non-Executive Director Sydney 25 August 2026
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FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 35 FY26 FY25 Note $’000 $’000 Interest income 1 1,050,676 1,057,994 Interest expense 2 (857,993) (887,484) Net interest income 192,683 170,510 Fee and commission income 1 21,422 15,359 Fee and commission expense 2 (16,930) (16,488) Fair value gains/(losses) on derivatives 1/2 215 (4,115) Fair value gains on unlisted equity investment 1 - 1,290 Other income 1 653 3,104 Employee benefits expense 2 (59,021) (56,661) Other expenses 2 (47,080) (41,711) Loan impairment expense 2 (21,362) (22,560) Profit before tax 70,580 48,728 Income tax expense 3 (21,265) (14,144) PROFIT AFTER TAX 49,315 34,584 Attributable to: Owners of the parent 49,189 34,584 Non-controlling interest 126 - 49,315 34,584
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FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 36 FY26 FY25 Note $’000 $’000 PROFIT AFTER TAX 49,315 34,584 Other comprehensive income/(expense), net of income tax Items that will not be reclassified subsequently to profit or loss: Realised gain/loss on equity investment in listed companies through OCI, net of tax - 6,432 Items that may be reclassified subsequently to profit or loss: Changes in fair value of cash flow hedges 31,209 (17,863) Tax effect (9,292) 5,321 Currency translation differences (3,094) 743 Other comprehensive income/(expense), net of tax 18,823 (5,367) TOTAL COMPREHENSIVE INCOME FOR THE YEAR 68,138 29,217 Attributable to: Owners of the parent 68,012 29,217 Non-controlling interest 126 - 68,138 29,217 FY26 cents per share FY25 cents per share Earnings per share Basic 21 12.44 8.67 Diluted 21 12.38 8.63 Notes to the consolidated financial statements are included on pages 41 to 120.
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FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 37 FY26 FY25 Note $'000 $'000 ASSETS Cash and cash equivalents 4 722,507 775,737 Trade and other receivables 5 4,194 4,933 Current tax receivable 3 15,388 - Loans and advances 6 16,582,891 15,975,308 Contract assets 1 4,675 7,638 Other financial assets 7 4,800 4,800 Derivative financial assets 23 8,597 25,569 Right-of-use assets 8 9,726 13,307 Plant and equipment 9 248 406 Other assets 10 893 780 Deferred tax assets 3 4,022 15,154 Goodwill and intangible assets 11 31,272 32,917 17,389,213 16,856,549 LIABILITIES Trade and other payables 12 26,755 26,648 Current tax payable 3 - 4,009 Interest-bearing liabilities 13 16,860,186 16,296,205 Lease liabilities 14 10,317 13,266 Other financial liabilities 15 87,531 89,810 Derivative financial liabilities 23 28,077 54,786 Other liabilities 16 655 520 Provisions 17 5,952 6,157 17,019,473 16,491,401 NET ASSETS 369,740 365,148 EQUITY Share capital 20 170,495 170,522 Reverse acquisition reserve 20 (61,541) (61,541) Total issued capital 20 108,954 108,981 Reserves 20.3 (11,522) (30,437) Retained earnings 20.3 270,434 286,505 Equity attributable to owners of the parent 367,866 365,049 Non-controlling interest 1,874 99 369,740 365,148 Notes to the consolidated financial statements are included on pages 41 to 120.
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FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 38 Share capital Reverse acquisition reserve1 Total issued capital Reserves2 Retained earnings Attributable to owners of the parent Non- controlling interest Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Balance as at 1 July 2025 170,522 (61,541) 108,981 (30,437) 286,505 365,049 99 365,148 Profit for the year - - - - 49,189 49,189 126 49,315 Other comprehensive income, net of income tax - - - 18,823 - 18,823 - 18,823 Total comprehensive income for the year - - - 18,823 49,189 68,012 126 68,138 Transactions with owners in their capacity as owners Non-controlling interest capital contributions - - - - - - 1,649 1,649 Equity dividends - - - - (65,260) (65,260) - (65,260) Treasury shares (27) - (27) - - (27) - (27) Share-based payments - - - 92 - 92 - 92 Balance at 30 June 2026 170,495 (61,541) 108,954 (11,522) 270,434 367,866 1,874 369,740 1. As a result of the reverse acquisition accounting applied to the Resimac/Homeloans merger, a separate equity reserve, referred to as the ‘Reverse acquisition reserve’, was recognised within equity. While similar in nature to share capital, this reverse does not represent distributable amounts and is therefore not available for distribution. 2. Comprises cash flow hedge reserve, foreign currency translation reserve, fair value reserve, share -based payment reserve and other reserve. Refer to Note 20 for more detail.
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FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 39 Share capital Reverse acquisition reserve1 Total issued capital Reserves2 Retained earnings Attributable to owners of the parent Non- controlling interest Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Balance as at 1 July 2024 173,916 (61,541) 112,375 (23,686) 327,361 416,050 311 416,361 Profit for the year - - - - 34,584 34,584 - 34,584 Other comprehensive income, net of income tax - - - (5,367) - (5,367) - (5,367) Total comprehensive income for the year - - - (5,367) 34,584 29,217 - 29,217 Transactions with owners in their capacity as owners Acquisition of non-controlling interest - - - (1,210) - (1,210) (212) (1,422) Share buyback (4,070) - (4,070) - - (4,070) - (4,070) Issuance of shares 261 - 261 - - 261 - 261 Equity dividends - - - - (75,440) (75,440) - (75,440) Treasury shares 415 - 415 - - 415 - 415 Share-based payments - - - (174) - (174) - (174) Balance at 30 June 2025 170,522 (61,541) 108,981 (30,437) 286,505 365,049 99 365,148 1. As a result of the reverse acquisition accounting applied to the Resimac/Homeloans merger, a separate equity reserve, referred to as the ‘Reverse acquisition reserve’, was recognised within equity. While similar in nature to share capital, this reverse does not represent distributable amounts and is therefore not available for distribution. 2. Comprises cash flow hedge reserve, foreign currency translation reserve, fair value reserve, share -based payment reserve and other reserve. Refer to Note 20 for more detail. Notes to the consolidated financial statements are included on pages 41 to 120.
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FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 40 FY26 FY25 Note $'000 $'000 Cash flows from operating activities Interest received 1,087,763 1,098,026 Interest paid (847,969) (886,847) Receipts from loan fees and other income 23,853 25,218 Payments to suppliers and employees (193,150) (181,780) Payments of net loans to borrowers (600,987) (472,068) Income tax paid (38,697) (13,658) Net cash used in operating activities 4 (569,187) (431,109) Cash flows from investing activities Net payment for plant and equipment (123) (176) Payment for acquisition of subsidiary/loan portfolio - (1,420,937) Cash acquired on additional acquisition of subsidiary/loan portfolio - 216 Payments for new investments - (1,989) Proceeds from sale of future trail commission contract asset 1,674 - Proceeds on disposal of listed equity investment - 8,480 Dividend income from listed equity investments - 269 Net cash from / (used in) investing activities 1,551 (1,414,137) Cash flows from financing activities Proceeds from borrowings 15,737,600 12,213,542 Repayment of borrowings (15,152,050) (10,408,306) Proceeds from exercise of options - 829 Payment of lease liabilities (870) (1,375) Swap (payments)/receipts (3,233) 5,464 Net loan to related party - (10,995) Payment of dividends (65,260) (44,872) Payment for share buybacks - (4,070) Payments for acquisition of treasury shares (237) (1,024) Proceeds from issuance of shares - 261 Proceeds from non-controlling interest capital contributions 1,649 - Net cash from financing activities 517,599 1,749,454 Net decrease in cash and cash equivalents (50,037) (95,792) Cash and cash equivalents at the beginning of the financial year (1 July) 775,737 870,999 Effects of exchange rate changes on cash balances held in foreign currencies (3,193) 530 Cash and cash equivalents at end of year 4 722,507 775,737 Notes to the consolidated financial statements are included on pages 41 to 120.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ABOUT THIS REPORT FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 41 About this report Resimac Group Ltd (“Resimac” or “the Company”) is a for-profit company limited by shares, incorporated and domiciled in Australia, whose shares are publicly traded on the Australian Securities Exchange. The nature of the operations and principal activities of Resimac and entities that it controls (referred to as “the Group”) are described in the segment information. Resimac’s ultimate parent entity is Somers Isles Private Trust Company Limited, which is incorporated in Bermuda. Resimac does not have any immediate parent entities with controlling interest. The consolidated general purpose financial report of the Group for the year ended 30 June 2026 was authorised for issue in accordance with a resolution of the Directors on 25 August 2026. The financial report is a general-purpose financial report which: • has been prepared in accordance with the requirements of the Corporations Act 2001, Australian Accounting Standards (AAS) and other authoritative pronouncements of the Australian Accounting Standards Board (AASB) and International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB); • has been prepared on a historical cost basis, and with certain financial instruments measured at fair value; • is presented in Australian dollars with all values rounded to the nearest thousand dollars ($’000) unless otherwise stated, in accordance with ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183; • adopts all new and amended Accounting Standards and Interpretations issued by the AASB that are relevant to the Group and effective for reporting periods beginning on 1 July 2025. Refer to Note 31 for further details; and • comparative figures relating to segment information have been amended to conform with the financial statement’s presentation adopted in the current year. See page 44 for details. Key judgements and estimates In the application of the Group’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements. Actual results may differ from these estimates. Judgements and estimates which are material to the financial report are found in the following notes: Note Relates to 11 15 Goodwill impairment Net present value of expected future trail commission payable for on balance sheet loans 22&23 Impairment of financial assets
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ABOUT THIS REPORT FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 42 Basis of consolidation The consolidated financial statements comprise the financial statements of the Group. A list of controlled entities (subsidiaries) at year end is contained in Note 24. The financial statements of subsidiaries are prepared using consistent accounting policies. Subsidiaries are consolidated from the date on which control is obtained to the date on which control is disposed. The Group controls an investee if and only if the Group has: • power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee); • exposure, or rights, to variable returns from its involvement with the investee; and • the ability to use its power over the investee to affect its return. In preparing the consolidated financial statements, all inter-company balances and transactions, income and expenses and profits and losses resulting from intra-Group transactions have been eliminated. The acquisition of subsidiaries is accounted for using the acquisition method. Refer to Note 24 for detail on the consolidation of special purpose vehicles. Foreign currency As at the reporting date, assets and liabilities of overseas subsidiaries are translated into Australian dollars at the rate of exchange at the balance sheet date and the income statements are translated at the average exchange rate for the year. The exchange differences arising on the retranslation are taken directly to a separate component of equity. Transactions in foreign currencies are initially recorded in the functional currency at the exchange rates ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Exchange differences arising from the application of these procedures are taken to the income statement, with the exception of differences on foreign currency borrowings that provide a hedge against a net investment in a foreign entity, which are taken directly to equity until the disposal of the net investment, and then recognised in the income statement. Tax charges and credits attributable to exchange differences on those borrowings are also recognised in equity. Other accounting policies Material and other accounting policies that summarise the recognition and measurement basis relevant to an understanding of the financial statements are provided throughout the notes to the financial statements.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ABOUT THIS REPORT FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 43 Basis of consolidation (continuation) The notes to the financial statements The notes include information required to understand the financial statements and is material and relevant to the operations, financial position and performance of the Group. Information is considered material and relevant if, for example: • the amount in question is significant because of its size or nature; • it is important for understanding the results of the Group; • it helps to explain the impact of significant changes in the Group’s business – for example, acquisitions and impairment write-downs; or • it relates to an aspect of the Group’s operations that is important to its future performance. The notes are organised into the following sections: Key numbers: provides a breakdown of individual line items in the financial statements that the Directors consider most relevant and summarises the accounting policies, judgements and estimates relevant to understanding these line items; Capital: provides information about the capital management practices of the Group and shareholder returns for the year; Risk: details the Group’s exposure to various financial risks, explains how these affect the Group’s financial position and performance, and what the Group does to manage these risks; Group structure: explains the Group structure and how changes have affected the financial position and performance of the Group; Unrecognised items: provides information regarding items not recognised in the financial statements but could potentially have an impact on the Group’s financial position and performance; and Other: provides information on items which require disclosure to comply with AASB and other regulatory pronouncements, however, are not considered critical in understanding the financial performance or position of the Group.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS SEGMENT INFORMATION FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 44 Segment Information The Group has identified two reportable segments based on the nature of the products and services provided, the type of customers for those products and services, the geographies where the business operates and the existence of discrete and separate reporting and management teams. The internal reports of the reportable segments are regularly reviewed by the Board and executive management team (the Chief Operating Decision makers) in order to allocate resources to the segment and to assess its performance. The Group’s reportable segments under AASB 8 Operating Segments are therefore as follows: Home Loan Lending business Represents the mortgage distribution and lending businesses currently captured under the Resimac and homeloans.com.au brands. The segment contains the Australian and New Zealand (NZ) mortgage based income and expense. It incorporates the new business settled through the Australian distribution channels, the margin of the on balance sheet home loan portfolios, and the upfront and trail commission relating to both Resimac’s mortgage portfolio and from funders on the non-principally funded loans (white label loan portfolio). During the year, the Group reassessed its operating segments following changes in internal management reporting and the strategic decision to cease new lending in NZ. The NZ portfolio is now managed as part of the Home Loans segment and is no longer separately reviewed by the Chief Operating Decision Maker. Accordingly, the NZ segment has been aggregated into the Home Loans segment for the purposes of AASB 8, and prior period comparatives have been restated. Asset Finance Lending business The Group’s fully owned subsidiary Resimac Asset Finance (RAF) specialises in Australian based lending solutions that span across auto finance, equipment finance, secured business loans, insurance premium loans and the acquired run-off Westpac Autos portfolio. Corporate costs relating to this segment (i.e. employment costs) are incurred by the Group. For the purposes of segment reporting these corporate costs are allocated to this segment. The financial information of the Home Loans and Asset Finance Lending reportable segments are prepared using accounting policies consistent with the Group.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS SEGMENT INFORMATION FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 45 The following is an analysis of the Group’s revenue and results by reportable operating segments: HOME LOAN LENDING ASSET FINANCE LENDING CONSOLIDATED FY26 FY25 FY26 FY25 FY26 FY25 $'000 $'000 $'000 $'000 $'000 $'000 Revenue from external customers 865,161 913,728 207,805 164,018 1,072,966 1,077,747 Total segment revenue 865,161 913,728 207,805 164,018 1,072,966 1,077,747 Segment results before fair value (losses)/gains on derivatives, interest, tax, depreciation, amortisation, finance costs and impairment 784,610 836,087 184,883 145,646 969,493 981,733 Fair value (losses)/gains on derivatives (81) (2,946) 296 (1,169) 215 (4,115) Interest expense (728,721) (777,925) (129,272) (109,559) (857,993) (887,484) Depreciation and amortisation (1,879) (2,461) (1,670) (524) (3,549) (2,985) Loan impairment (3,929) 2,798 (17,433) (25,358) (21,362) (22,560) Financing costs (9,651) (9,535) (6,573) (6,326) (16,224) (15,861) Segment results before income tax 40,349 46,018 30,231 2,710 70,580 48,728 Income tax expense1 (21,265) (14,144) PROFIT AFTER TAX 49,315 34,584 1. Income tax expense is disclosed on a consolidated basis, not by reportable operating segment.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS SEGMENT INFORMATION FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 46 The following is an analysis of the Group’s assets and liabilities by reportable operating segment: HOME LOAN LENDING ASSET FINANCE LENDING CONSOLIDATED FY26 FY25 FY26 FY25 FY26 FY25 $'000 $'000 $'000 $'000 $'000 $'000 Segment assets excl. tax 15,394,710 14,157,964 1,975,093 2,683,431 17,369,803 16,841,395 15,394,710 14,157,964 1,975,093 2,683,431 17,369,803 16,841,395 Segment liabilities excl. tax (15,140,901) (13,869,781) (1,878,572) (2,617,611) (17,019,473) (16,487,392) Net assets excl. tax 253,809 288,183 96,521 65,820 350,330 354,003 Tax assets2 19,410 15,154 Tax liabilities2 - (4,009) NET ASSETS 369,740 365,148 2. Tax assets and liabilities are disclosed on a consolidated basis, not by reportable operating segment.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 47 1. Revenue 1.1 Revenue streams The Group generates revenue primarily from interest income and fee and commission income. FY26 FY25 $’000 $’000 Interest income Loans and advances 1,029,128 1,034,268 Bank deposits 21,224 23,217 Discount unwind on NPV of trail commission on white label loans 324 509 1,050,676 1,057,994 Fee and commission income (Revenue from contracts with customers) 21,422 15,359 Fair value gains on derivatives Fair value gains on interest rate swaps 215 - 215 - Fair value gains on other financial assets Fair value gains on unlisted equity investment - 1,290 - 1,290 Other income Dividend income - 384 Other 653 2,720 653 3,104 Total revenue 1,072,966 1,077,747 Recognition & Measurement Interest income - loans and advances Loans and advances are initially recognised at fair value. Subsequent to initial recognition, the loans are measured at amortised cost using the effective interest method over the estimated actual (but not contractual) life of the loans, taking into account all income and expenditure directly attributable to the loan. Interest income on loans and advances is recognised as it accrues using the effective interest rate method. The rate at which revenue is recognised is referred to as the effective interest rate and is equivalent to the rate that effectively discounts estimated future cash flows throughout the estimated life. Acquisition costs representing upfront broker commissions related to originating loans and advances, as well as the expected value of ongoing trailing commission costs are capitalised on the statement of financial position of the Group. These costs are amortised to the statement of profit or loss across the expected life of the loan in interest income as part of the effective interest rate along with any premium or discount on acquisition. Loans and advances in arrears or hardship at 30 June 2026 continue to accrue interest income. Consideration for potential future credit losses on loans in arrears or hardship is reflected in Note 23. Interest income - bank deposits This comprises interest income on cash held with Australian Authorised Deposit-taking Institutions (ADIs) predominantly in securitisation trusts. Interest income is recognised as it accrues, using the effective interest method.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 48 1. Revenue (continuation) Fee and commission income Revenue is based on the consideration specified in a contract with a customer. The Group recognises revenue when it transfers control over a good or service to a customer. Fee and commission income include fees other than those that are an integral part of loans and advances measured using effective interest rate method, and which are accounted for in accordance with AASB 15 Revenue from contracts with customers. The following table provides information about the nature and timing of the satisfaction of performance obligations in contracts with customers, and the related revenue recognition policies. CLASSIFICATION & MEASUREMENT OF REVENUE Timing Type of service Nature, timing of satisfaction of performance obligations Revenue recognition policy under AASB 15 At a point in time Loan management revenue Trail commission income on white label loans, based on the individual monthly loan balance outstanding each month. Trail ceases once the loan is discharged. The contracts with the originators include performance obligations which must be satisfied in order to be paid trail commission. Revenue is recognised at the point in time the loan is being settled and performance obligations are satisfied according to the contracts with the lenders. The present value of the trailing commission receivable is recognised as a contract asset and measured using the expected value method with variable consideration at a point in time. At a point in time Lending fee income Loan fees paid by the borrower such as application, settlement, discharge, insurance, dishonour fee, etc. The performance obligation for these fees is met at a point in time (settlement, discharge etc) when the fee is charged to the borrower. Revenue is recognised when the transaction is completed, and the performance obligations are met. Fair value gains on derivatives The policy relating to fair value gains derivatives is set out in Note 2.4. Fair value gains on other financial assets The policy relating to fair value gains on other financial assets is set out in Note 7. Other income Dividend income is recognised when the right to receive the payment is established. Other income includes various items including but not limited to gain on modification of office lease term, payments received under operating leases as income on a straight-line basis over the lease (office sub-lease) and insurance rebate income. 1.2 Disaggregation of revenue from contracts with customers In the following table, revenue from contracts with customers is disaggregated by primary geographical market, major service lines and timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue with the Group’s reportable segments (See “Segment Information” on page 44).
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 49 1. Revenue (continuation) HOME LOAN LENDING ASSET FINANCE LENDING CONSOLIDATED FY26 FY25 FY26 FY25 FY26 FY25 $'000 $'000 $'000 $'000 $'000 $'000 Fee and commission income Mortgage origination 1 (4) 160 189 161 185 Loan management 968 1,560 - - 968 1,560 Lending fee income 3,434 4,697 16,859 8,917 20,293 13,614 4,403 6,253 17,019 9,106 21,422 15,359 Timing of revenue recognition Service transferred at a point in time 4,403 6,253 17,019 9,106 21,422 15,359 Revenue from contracts with customers 4,403 6,253 17,019 9,106 21,422 15,359 Interest income 860,833 903,410 189,843 154,584 1,050,676 1,057,994 Fair value gains on other financial assets - 1,290 - - - 1,290 Fair value gains/(losses) on derivatives (81) - 296 - 215 - Other income 6 2,776 647 328 653 3,104 External revenue as reported in segment information 865,161 913,729 207,805 164,018 1,072,966 1,077,747
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 50 1. Revenue (continuation) 1.3 Assets related to contracts with customers The Group has recognised the following assets related to contracts with customers. FY26 FY25 $’000 $’000 Contract assets – present value of future trail commission receivable Current 1,655 2,973 Non-current 3,020 4,665 4,675 7,638 Recognition and measurement Contract assets - present value of future trail commission receivable The contract assets relate to the Group’s rights to receive trail commissions from lenders on white label settled loans, over the life of the loan based on the monthly loan balance outstanding. The contract assets are transferred to receivables when the rights become unconditional. The origination of white label loans ceased in FY19, and the portfolio remains in runoff. Measurement The future trail commission receivable is measured at expected value . The carrying amounts of the trail commission receivable are adjusted to reflect actual and revised estimated cash flows by computing the present value of estimated future cash flows at the effective interest rates. The resulting adjustment is recognised as income or expense in the statement of comprehensive income (disclosed as loan management under fee and commission income in Note 1.2). A remeasurement of the underlying cash flows relating to the trail commission receivable occurs at each reporting date. During the year, a portion of the contract assets was disposed for $1.7 million.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 51 2. Expenses FY26 FY25 $’000 $’000 Interest Bond and warehouse facilities 851,171 873,601 Amortisation – facility issuance costs 10,159 10,850 Discount unwind on NPV of trail commission liability (5,554) 772 Corporate facility 1,120 2,899 Interest on lease liabilities 1,097 (638) 857,993 887,484 Fee and commission Loan management 706 627 Borrowing commitment costs 3,713 3,467 RMBS/ABS costs 12,511 12,394 16,930 16,488 Employee benefits Remuneration, superannuation and on-costs 58,714 56,223 Share-based payments 307 438 59,021 56,661 Fair value losses on derivatives Fair value losses on interest rate swaps - 4,115 - 4,115 Other Audit and other professional fees 13,653 9,764 Depreciation and amortisation 1,928 993 Depreciation of right-of-use assets 1,621 1,992 Insurance 2,179 2,723 Marketing 779 3,007 Rent and occupancy costs 988 1,284 Technology expenses 19,164 14,927 Unrecoverable GST 3,881 3,383 Other 2,887 3,638 47,080 41,711 Loan impairment expense Loan impairment provision (see Note 6) Loan recoveries 29,078 (7,716) 27,505 (4,945) 21,362 22,560 1,002,386 1,029,019
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 52 2. Expenses (continuation) Recognition and measurement 2.1 Interest Bond and warehouse facilities and corporate facility Recognised in the profit or loss as it accrues using the effective interest rate method. Bond and warehouse facilities interest expense include coupon payments on notes issued, and interest paid on non-securitised funding facilities. Amortisation – facility issuance costs Transaction costs incurred by the Group incremental to the issue of debt securities by the securitisation trusts, are capitalised on the statement of financial position as facility issuance costs. These costs are amortised to the statement of profit or loss over the average expected life of the debt securities using the effective interest rate method. 2.2 Fee and commission Loan management Includes trail commission payable expense on white label loans based on individual loan balances outstanding and the loan continuing to perform. Borrowing commitment costs Commitment fees directly related to the Group’s global funding program. RMBS/ABS costs Other financing costs include trustee and servicer fees, liquidity fees, rating agency fees, and other fees related to the ongoing operation of the bond and warehouse facilities. 2.3 Employee benefits Employee benefits expense includes fixed and variable remuneration, superannuation, and associated on -costs. The policy relating to share-based payments is set out in Note 30. 2.4 Fair value gains/losses on derivatives The Group’s funding structures contractually require the Group to enter into interest rate swaps on the origination of fixed rate loans to customers, to ensure the Group’s special purpose vehicles maintain sufficient cash flows by eliminating interest rate risk exposure. At 30 June 2026, the fair value of future cash flows of each swap that was not designated and qualified as a cash flow hedge was determined in line with AASB 9 Financial Instruments, and the resulting gain or loss is recognised in the statement of profit or loss. 2.5 Other This mainly comprises audit and other professional fees, technology expenses, and general administration expenses. These items are expensed when incurred. 2.6 Loan impairment Loan impairment expenses relate to the movement in the: • specific and collective provisions; and • direct loan write-offs net of any recoveries recognised during the year. See Note 6 for detail on impairment of loans and advances.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 53 3. Income tax 3.1 Income tax recognised in profit or loss FY26 FY25 $’000 $’000 Current tax In respect of the current year 19,709 23,905 In respect of prior years (132) (604) 19,577 23,301 Deferred tax In respect of the current year 1,555 (9,161) In respect of prior years 133 4 1,688 (9,157) Total income tax expense recognised in the current year 21,265 14,144 The income tax expense for the year can be reconciled to the accounting profit as follows: Profit before tax 70,580 48,728 Income tax expense calculated at 30% (FY25: 30%) 21,174 14,619 Effect of expenses that are not deductible in determining taxable profit 84 44 Effect of different tax rates of subsidiaries operating in other jurisdictions 12 52 Employee share scheme 13 (2) Other items (19) 31 21,264 14,744 Adjustments recognised in the current year in relation to the deferred tax of prior years 133 4 Adjustments recognised in the current year in relation to the current tax of prior years (132) (604) Income tax expense recognised in profit or loss 21,265 14,144 The tax rate used for FY26 and FY25 reconciliations is the corporate tax rate of 30% payable by corporate entities in Australia, and 28% in New Zealand. Recognition and measurement Income tax expense represents the sum of the tax currently payable and deferred tax. 3.2 Current tax balances FY26 FY25 $’000 $’000 Current tax receivable/(payable) 15,388 (4,009) 15,388 (4,009)
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 54 3. Income tax (continuation) 3.3 Deferred tax balances The following is the analysis of deferred tax assets (DTA) and deferred tax liabilities (DTL) presented in the consolidated statement of financial position: FY26 FY25 $’000 $’000 Deferred tax assets 4,022 15,154 4,022 15,154 Opening balance Current year recognised in profit or loss Previously unrecognised in profit or loss Recognised directly in equity Closing balance FY26 $’000 $’000 $’000 $’000 $’000 Deferred tax assets/(liabilities) Provision for expected credit loss 16,314 3,935 - (118) 20,131 Plant, equipment and software 408 373 - - 781 Employee entitlements 1,350 79 - - 1,429 Provision for lease make good 27 - - - 27 Provision for discharge fee refund 716 - - - 716 Trail commission payable 26,948 419 (3,462) - 23,905 Loans and advances – Novated Leases 7,700 (2,512) (133) - 5,055 Lease liability 82 229 - - 311 Capitalised upfront commission (16,679) (2,463) - 3 (19,139) Capitalised trail commission (25,745) 456 - - (25,289) Deferred bond issue cost (2,873) (754) - - (3,627) Derivatives 7,510 (61) - (9,357) (1,908) Trail commission receivable (2,265) (227) 3,462 - 970 Others 1,661 (1,029) - 28 660 15,154 (1,555) (133) (9,444) 3 4,022
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 55 3. Income tax (continuation) Opening balance Current year recognised in profit or loss Previously unrecognised in profit or loss Recognised directly in equity / recoup loss against tax liability Closing balance FY25 $’000 $’000 $’000 $’000 $’000 Deferred tax assets/(liabilities) Provision for expected credit loss 14,214 2,093 - 7 16,314 Plant, equipment and software 1,570 (1,162) - - 408 Employee entitlements 1,580 (230) - - 1,350 Provision for lease make good 58 (31) - - 27 Provision for discharge fee refund 717 (1) - - 716 Trail commission payable 30,164 1,184 (4,400) - 26,948 Loans and advances – Novated Leases - 7,700 - - 7,700 Lease liability 479 (397) - - 82 Capitalised upfront commission (16,476) (198) - (5) (16,679) Capitalised trail commission (24,247) (1,498) - - (25,745) Deferred bond issue cost (3,251) 379 - (1) (2,873) Derivatives 1,307 880 - 5,323 7,510 Trail commission receivable (7,230) 565 4,400 - (2,265) Others 4,587 (123) (4) (2,799) 1,661 3,472 9,161 (4) 2,525 3 15,154 Recognition and measurement Income tax expense represents the sum of the tax currently payable and deferred tax. a. Current tax Tax payable is based on taxable profit for the year. Taxable profit differs from ‘profit before tax’ as reported in the consolidated statement of profit or loss and other comprehensive income due to a mix of timing and non -assessable items. The Group's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period b. Deferred tax Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax base used in the computation of taxable profit. Deferred tax liabilities (DTLs) are generally recognised for all taxable temporary differences. Deferred tax assets (DTAs) are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. Such DTAs and DTLs are not recognised if the temporary difference arises from the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit and at the time of the transaction, does not give rise to equal taxable and deductible temporary differences. In addition, DTLs are not recognised if the temporary difference arises from the initial recognition of goodwill. DTLs are recognised for taxable temporary differences associated with investments in subsidiaries and associates, and interests in joint ventures, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 56 3. Income tax (continuation) DTAs arising from deductible temporary differences associated with such investments and interests are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilise the benefits of the temporary differences and they are expected to reverse in the foreseeable future. The carrying amount of DTAs is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. DTLs and DTAs are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of DTLs and DTAs reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. c. Current and deferred tax for the year Current and deferred tax are recognised in the statement of comprehensive income, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination. d. Tax consolidation and tax effect accounting by members of the tax consolidated group Resimac Group Ltd and its wholly-owned Australian controlled entities have implemented the tax consolidation legislation. The head entity Resimac Group Ltd, and the controlled entities in the tax consolidated group continue to account for their own current and deferred tax amounts. The Group has applied the group allocation approach in determining the appropriate amount of current taxes and deferred taxes to allocate to members of the tax consolidated group. The current and deferred tax amounts are measured in a systematic manner that is consistent with the broad principles in AASB 112 Income Taxes. In addition to its own current and deferred tax amounts, the head entity also recognises current tax liabilities (or assets) and the deferred tax assets arising from unused tax losses when it is probable that these will be available to offset against future taxable profits and unused tax credits assumed from controlled entities in the Resimac tax consolidated group. At 30 June 2026, the Group has unused capital losses of $1.5 million (2025: $nil) for which no deferred tax asset has been recognised, as the criteria for recognition under AASB 112 have not been met. e. Nature of the tax funding agreement Members of the Group have entered into a tax funding agreement. The tax funding agreement requires payments to/from the head entity to be recognised via an inter-entity receivable (payable) which is at call. The allocation of taxes under the tax funding agreement is recognised as an increase or decrease in the subsidiaries’ intercompany accounts with the tax consolidated group head company, Resimac Group Ltd. The amounts receivable or payable under the tax funding agreement are due upon receipt of the funding advice from the head entity, which is issued as soon as practical after the end of each financial year.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 57 4. Cash and cash equivalents FY26 FY25 Note $’000 $’000 Cash at bank and on hand 21,046 9,915 Cash collections accounts (restricted cash) 1 701,461 765,822 22 722,507 775,737 Reconciliation of profit after tax to the net cash flows from operating activities Profit after tax 49,315 34,584 Adjustments for Depreciation and amortisation 2 1,928 993 Depreciation charge of right-of-use assets 2 1,621 1,992 Amortisation of bond issue costs 2 10,159 10,850 Fair value movement on swaps 3,018 (1,349) Loan impairment expense 2 29,078 27,505 Net loss on disposal of non-current assets - 31 Movement in present value of future trail commission income 1,590 1,931 Movement in present value of future trail commission expense (760) (1,048) Share-based payments expense 2 307 438 Discount unwind on portfolio acquisition (11,242) (5,560) Fair value gain on financial assets - (1,290) Gain on modification of lease (25) (1,592) Dividend income from listed equity investments - (269) (Increase)/decrease in assets Trade and other receivables (1,551) 4,742 Loans and advances (609,947) (467,808) Other assets 19 (5,035) Allowance for expected credit losses (17,081) (15,968) Current tax receivable/payable (19,924) 9,055 Deferred tax assets 2,492 (8,684) Increase/(decrease) in liabilities Trade and other payables 5,041 4,509 Interest-bearing liabilities (9,976) (16,270) Provisions (3,249) (2,866) Net cash used in operating activities (569,187) (431,109) 1. Cash collections account includes monies in the Special Purpose Vehicles and securitisation trusts on behalf of members in those trusts and various clearing accounts. These funds are not available for operational use.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 58 4. Cash and cash equivalents (continuation) Reconciliation of liabilities arising from financing activities Issued capital Share- based payment reserve Interest- bearing liabilities Lease liabilities Total $'000 $'000 $’000 $’000 $’000 Balance at 1 July 2025 170,522 (2,092) 16,296,205 13,266 16,477,901 Operating cashflows - - (9,976) (93) (10,069) Financing cashflows (237) - 585,549 (870) 584,442 Non-cash movements 210 92 (11,592) (1,986) (13,276) Balance at 30 June 2026 170,495 (2,000) 16,860,186 10,317 17,038,998 Balance at 1 July 2024 173,916 (1,918) 14,415,581 7,368 14,594,947 Operating cashflows - - (16,263) (700) (16,963) Financing cashflows (4,833) 829 1,805,228 (1,375) 1,799,849 Non-cash movements 1,439 (1,003) 91,659 7,973 100,068 Balance at 30 June 2025 170,522 (2,092) 16,296,205 13,266 16,477,901 Recognition and measurement Cash comprises cash deposits and cash equivalents that are short-term, liquid investments readily convertible to known amounts of cash, not subject to significant risk of changes in value, and have a maturity of three months or less. Cash at bank earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 59 5. Trade and other receivables FY26 FY25 $’000 $’000 Current Fee and commission receivable 147 245 Prepayments 3,943 4,646 Sundry receivables 104 42 4,194 4,933 Recognition and measurement All receivables are derived in the ordinary course of business. No maturity dates are specified as they are normally settled within twelve months. There are no long-term outstanding receivables as at the reporting date and no material impairment recognised. Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest rate method, less an allowance for expected credit losses. The credit risk of trade receivables is considered immaterial as they are due from Australian financial institutions with high credit ratings. Fee and commission receivable Comprises trail commission receivables on settlement terms of 30 days. This is initially recognised at the fair value of the consideration receivable. Prepayments Prepayments are recognised when the costs are incurred and amortised over the period in which the economic benefits from these assets are received. Sundry receivables Sundry receivables are receivables arising from various immaterial transactions in the ordinary course of business. The Group has assessed these receivables as fully recoverable at balance date.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 60 6. Loans and advances FY26 FY25 Note $’000 $’000 Gross loans and advances Loans and advances 16,529,333 15,924,397 Capitalised upfront commissions 71,003 62,168 Capitalised trail commissions 84,296 85,815 Deferred mortgage fees (8,844) (6,138) Unamortised discount on portfolio acquisition (5,017) (12,733) Unallocated customer repayments/advances (19,099) (21,677) 16,651,672 16,031,832 Less: allowance for expected credit losses (68,781) (56,524) 22 16,582,891 15,975,308 Current 6,879,126 5,619,780 Non-current 9,772,546 10,412,052 16,651,672 16,031,832 FY26 $’000 FY25 $’000 Home Loan Lending Asset Finance Lending Total Group Home Loan Lending Asset Finance Lending Total Group Allowances for expected credit losses Collective allowance 31,724 23,069 54,793 32,160 20,732 52,892 Specific allowance 6,380 7,608 13,988 3,147 485 3,632 38,104 30,677 68,781 35,307 21,217 56,524 Movement in allowances for ECL Balance at 1 July 35,307 21,217 56,524 38,364 11,645 50,009 Provided/(written back) for during the year - Specific 3,884 23,293 27,177 1,960 18,763 20,723 - Collective (436) 2,337 1,901 (4,516) 11,298 6,782 3,448 25,630 29,078 (2,556) 30,061 27,505 Write-offs (651) (16,170) (16,821) (501) (20,489) (20,990) Balance at 30 June 38,104 30,677 68,781 35,307 21,217 56,524
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 61 6. Loans and advances (continuation) Recognition and measurement All loans and advances are initially recognised at fair value plus directly attributable transaction costs, and subsequently measured at amortised cost using the effective interest rate method. The effective interest rate is the rate that discounts estimated future cash receipts (including all fees paid or received th at form an integral part of the effective interest rate, transaction costs and other premiums or discounts) excluding expected credit losses, through the expected life of the loans and advances. Gains and losses are recognised in the statement of comprehensive income when the loans and advances are derecognised or impaired. Unallocated customer repayments/advances Relates to loan payments received from borrowers on the last day of the reporting period that reside in clearing accounts to be allocated to a loan on the following day at balance date. Impairment and provisioning AASB 9 requires an Expected Credit Loss model (ECL) at each reporting date to reflect changes in credit risk since initial recognition of the loans and advances. Impairment policy of loans and advances are included in Note 22. Security properties repossessed As at 30 June 2026, the Group had exercised their right to foreclose on 12 residential properties (FY25: 11) being the security for loans and advances. The Group intends to sell these properties with the proceeds to go towards clearing the outstanding balance of the underlying loans. Mortgages in possession are held as part of loans and advances, until sold.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 62 7. Other financial assets FY26 FY25 Note $'000 $'000 Non-current Equity in Unlisted Companies 22 4,800 4,800 4,800 4,800 Equity in Unlisted Companies Investments that are not traded in an active market, however classified as fair value through profit or loss (FVTPL) are disclosed at fair value at the end of each reporting period. The fair value assessment conducted on the unlisted shares included assessing other market conditions on the current and future operating models. The fair value assessment include comparisons against forecasted operating performance at time of investment and recent capital raises completed (where available). The valuation methodology for these investments is disclosed in Note 22.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 63 8. Right-of-use assets FY26 FY25 $’000 $’000 Lease - buildings Balance at 1 July 13,307 5,554 Additions - 14,257 Modifications (1,960) (4,512) Depreciation (1,621) (1,992) Balance at 30 June 9,726 13,307 Lease - buildings Right-of-use assets at cost 12,157 14,257 Less: accumulated depreciation (2,431) (950) Total right-of-use assets 9,726 13,307 Right-of-use assets The Group leases offices with lease term of 1-7 years. Right-of-use assets are initially measured at cost and comprise the following: • the amount of the initial measurement of lease liability; • any lease payments made at or before the commencement date less any lease incentives received ; • any initial direct costs; and • restoration costs. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the lease term or the cost of the right-of-use asset reflects that the Group will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. Depreciation of right-of-use asset is recognised in the consolidated statement of profit or loss.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 64 9. Plant and equipment Computer equipment Office furniture Operating lease equipment Leasehold improvement Total Carrying amounts of $'000 $'000 $’000 $’000 $’000 Balance at 1 July 2025 323 - 54 29 406 Additions 172 14 32 - 218 Disposals (93) - - - (93) Depreciation expense (192) (2) (86) (3) (283) Balance at 30 June 2026 210 12 - 26 248 Balance at 1 July 2024 382 44 127 182 735 Additions 165 - - 21 186 Disposals - (36) - - (36) Depreciation expense (229) (8) (73) (174) (484) Foreign exchange 5 - - - 5 Balance at 30 June 2025 323 - 54 29 406 Recognition and measurement Plant and equipment is stated at cost less accumulated depreciation and impairment losses. Depreciation and amortisation Depreciation is recognised to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. The following useful lives are used in the calculation of depreciation: Years Computer equipment 3-4 Office furniture 10 Operating lease equipment 3-7 Leasehold improvement For life of the lease Derecognition An item of plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of plant and equipment is determined as the difference between the sale proceeds and the carrying amount of the asset and is recognised in profit or loss. Impairment At each reporting date, the Group reviews the carrying amounts of plant and equipment to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any).
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 65 10. Other assets FY26 $'000 FY25 $'000 Reinsurance claim receivable 655 520 Other 238 260 893 780 Current 238 260 Non-current 655 520 893 780 Reinsurance claim receivable Prime Insurance Group Limited was purchased as part of the RHG Mortgage Corporation Limited (RHG) acquisition in 2014. Its sole purpose is to provide mortgage insurance and reinsurance facilities for the RHG mortgage assets and process any shortfall claims received. RHG loans ceased origination in FY14, and the portfolio is in run-off. The reinsurance claim receivable is available to utilise against the reinsurance claim reserve amount in Note 16.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 66 11. Goodwill and intangible assets FY26 FY25 Goodwill $'000 $'000 Balance at 1 July 28,379 28,379 Balance at 30 June 28,379 28,379 Other intangible assets FY26 $’000 FY25 $’000 Balance at 1 July 4,538 - Additions – Cost incurred for the development of on-premise systems and software - 5,047 Amortisation during the year (1,645) (509) Balance at 30 June 2,893 4,538 Total goodwill and intangible assets 31,272 32,917 Goodwill Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the business (less accumulated impairment losses, if any). Impairment testing At 30 June 2026, the Group has performed goodwill impairment testing, which included consideration of the impact of the macroeconomic environment. Goodwill of $21.7 million has been allocated for impairment assessment purposes to the Home Loan Lending Business (HLLB) cash-generating unit (CGU). This CGU is expected to benefit from the synergies of the business combination to which that goodwill relates and is the lowest level at which goodwill is allocated. RAF goodwill of $6.7 million, is considered a separate CGU - Asset Finance Lending Business (AFLB) and has been separately assessed for impairment testing. A CGU to which goodwill has been allocated is tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the CGU is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro rata based on the carrying amount of each asset in the unit. Any impairment loss for g oodwill is recognised directly in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods. Recoverable amount of the asset The recoverable amount is equal to the greater of: • fair value less costs to sell; and • value in use (‘VIU’). The management have used the VIU methodology to estimate the recoverable amount as there is no readily available market information for specific business sales of an equivalent sized business to the HLLB and AFLB CGUs to estimate the fair value less cost to sell. The VIU calculation requires management to estimate future cash flows expected to arrive from the CGU and a suitable discount rate to calculate present value.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 67 11. Goodwill and intangible assets (continuation) Indicators of impairment The minimum indicators of impairment have been considered by management. These include both internal and external sources of information such as: • significant changes (historical and future) in the market, economic, legal or technological environment which would have an adverse impact on the Group; • decline in market capitalisation below the carrying value of net assets; • interest rate changes which impact the discount rate used in modelling; • evidence of a worsening financial position; • plans to discontinue operations; and • macro-economic conditions. As at 30 June 2026, Management observed the market capitalisation of the Group being lower than the carrying amount of the Group’s net assets. Whilst this is considered an indicator of impairment, the impairment assessment performed by management indicates the recoverable amounts of all CGU’s remains higher than the carrying amounts resulting in no impairment in FY26. There were no other indicators of impairment as at 30 June 2026. Inputs to impairment calculations Cash flow projections For VIU calculations, cash flow projections are based on strategic objectives and business forecasts prepared by management and approved by the Board. Cash flow projections are five years in length and a terminal growth rate beyond this has been applied. Impairment assessment In assessing VIU, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the CGU. Furthermore, each unit or group of units to which the goodwill is allocated shall: • represent the lowest level at which the goodwill is monitored for internal management purposes; and • not exceed the operating segments. The allocation of goodwill to these CGU’s is considered appropriate. Key judgements and assumptions The Group assesses whether goodwill is impaired at least annually in accordance with the accounting policy and AASB 136 Impairment of Assets. The recoverable amount of each CGU is determined based on value in use calculations that utilise cash flow projections based on financial forecasts approved by senior management which cover a 5 -year time horizon. In determining these detailed cash flow projections, management considers: • current and expected performance of each CGU; • Board and management approved budgets and strategic plans; and • changes in economic and market environments. The relevant assumptions in deriving the value in use of each CGU are as follows: • the free cash flows for each CGU for each year within the cash flow projection period; • the discount rate; and • growth rates.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 68 11. Goodwill and intangible assets (continuation) The detailed cash flow projections determined by management are discounted using an appropriate discount rate. The determination of the discount rate is a matter of judgement and is based on a number of factors, including a theoretical calculation, observation of third-party reports and discount rates used by comparable financial services companies. Management have determined that the appropriate discount rate to apply is the cost of equity of 12.6% for both HLLB and AFLB CGUs. A long-term growth rate of 2.5% is applied to the last year’s projected cash flow and into the terminal period. The terminal growth rate is based on the expected long-term performance for the industry in which the CGU’s operate and expectations regarding inflation as determined by consumer price index (“CPI”). The key assumptions used for assessing the recoverable amount of the CGUs are as below: FY26 FY25 HLLB AFLB HLLB AFLB Discount rate (post-tax) 12.6% 12.6% 12.6% 12.6% Terminal growth rate +2.5% +2.5% +2.5% +2.5% In evaluating the VIU for goodwill impairment, management conducts sensitivity analysis on the cost of equity by applying a discount rate range of 11.6% to 15.6%. Further sensitivity analysis is carried out by reducing the underlying cash flow forecasts by 15% to account for potential macroeconomic downturns as would be experienced in a stress scenario. The complete sensitivity range is presented as follows: HLLB Headroom ($ millions) Discount Rate 11.6% 12.6% 13.6% 14.6% 15.6% Base Case 285 224 174 133 98 Stress Scenario 200 148 107 72 43 AFLB Headroom ($ millions) Discount Rate 11.6% 12.6% 13.6% 14.6% 15.6% Base Case 82 65 50 39 28 Stress Scenario 52 38 25 15 7 The post-tax discount rates which would result in zero headroom / impairment are 19.7% (HLLB CGU) and 19.6% (AFLB CGU). Impairment charge Management is of the opinion that potential impacts that could be introduced from a change in the economic environment have been adequately considered for goodwill impairment testing purposes at 30 June 2026. Based upon the impairment testing performed, there is no impairment charge for FY26 (FY25: Nil).
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 69 12. Trade and other payables FY26 FY25 Note $'000 $'000 Current Commissions payable 6,123 4,726 Accruals 10,314 11,319 GST Payable 2,425 4,415 Other creditors 7,893 6,188 22 26,755 26,648 Recognition and measurement Trade creditors and other payables are generally settled within 30-day terms and are unsecured. Trade creditors and other payables are carried at amortised cost and represent liabilities for goods and services provided to the Group prior to the end of the financial year, are unpaid, and arise when the Group becomes obliged to make future payments in respect of the purchase of these goods and services. Commissions payable Relates to upfront and trail commission payable to aggregators and brokers. GST payable Relates to GST payable to the tax authorities at the balance sheet date. Accruals and other creditors Accruals and other creditors are accrued fees and expenses and unsecured payables relating to expenses arising in the ordinary course of business.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 70 13. Interest-bearing liabilities FY26 FY25 Note $'000 $'000 Debt securities on issue 16,690,541 16,115,888 Corporate debt facilities 25,000 14,000 Issuance facilities 144,645 166,317 22 16,860,186 16,296,205 Current 6,967,995 5,485,132 Non-current 9,892,191 10,811,073 16,860,186 16,296,205 Recognition and measurement All borrowings are initially recognised at fair value of the consideration received less directly attributable transaction costs, and subsequently measured at amortised cost using the effective interest method. Amortised cost is calculated by taking into account any fees paid or received between parties to the contract that are an integral part of the effective interest rate, transaction costs, and all other premiums or discounts on acquisition, over the period to maturity. Gains or losses are recognised in the statement of profit or loss when the liabilities are derecognised. For further detail on the amortised cost basis of accounting see Note 1 and 2. Details of the Group’s interest-bearing liabilities are set out in Note 22. 13.1 Debt securities on issue Warehouse facilities The warehouse facilities, referenced as Special Purpose Vehicles (SPVs), provide the initial duration financing of loans and advances to customers. The security for advances under these facilities is a combination of fixed and floating charges over all assets of the warehouse SPVs, including the mortgage security. If a warehouse facility is not renewed or should there be a default under the existing terms and conditions, the warehouse facility funder will, generally, not have a right of recourse against the remainder of the Group. The total capacity for the 18 warehouse facilities at 30 June 2026 was AUD 9.6 billion (equivalent) (FY25: 19 warehouse facilities; AUD 10.3 billion (equivalent)), of which AUD 2.0 billion (equivalent) was undrawn at 30 June 2026. During the financial year there were no material breaches to the warehouse agreements. All warehouse facilities were renewed, on or before their maturity date. Bonds (RMBS and ABS) Bonds issued by the securitisation trusts provide duration funding for loans and advances originated by the Group. The bond notes generally have a legal final maturity of 31 years from issue, and a call option of up to 5 years post issuance. The bondholder’s security is a combination of fixed and floating charges over all assets of the securitisation trust. Credit losses arising from the bonds will not result in the bondholders having a right of recourse against the Group (as Originator, Manager or Servicer). During the year ended 30 June 2026, AUD 6.2 billion (equivalent) of new bonds were issued (FY25: AUD 4.3 billion (equivalent)). These bond issuances paid down warehouse facilities creating capacity to fund new loans and new portfolio acquisition. During the financial year, there were no breaches to the terms of the bonds.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 71 13. Interest-bearing liabilities (continuation) 13.2 Corporate debt facility The corporate debt security (Secured Capital Note) of $14 million matured in January 2026 and was not renewed. This facility was disclosed under corporate debt facilities in FY25. As at 30 June 2026, the Company had a $30 million revolving corporate facility maturing in January 2028. The Group had an undrawn balance of $5 million at 30 June 2026 (FY25: $30 million). In accordance with the terms of the Group’s corporate debt facilities, the Group is required to comply with certain covenants. During the entire year and as at 30 June 2026, the Group was compliant with these covenants. The corporate debt facilities are secured by a first-ranking charge over the beneficial rights to the trust’s residual income of the Group. See Note 23.7 for further detail. 13.3 Issuance facilities The Group maintains a series of subsidiary SPV’s for the purpose of raising financing for its RMBS-related credit risk retention (“CRR”) obligations. CRR is a mandatory requirement for the Group’s RMBS issuance activities in the U.S., European, Japanese and U.K. jurisdictions where, in general, the Group is required to hold an economic interest of at least 5% in value of an RMBS issuance. The subsidiary SPV’s hold a 5% vertical strip of bonds of an individual RMBS issuance and raises secured financing from banks and credit investors.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 72 14. Lease liabilities FY26 FY25 Lease liabilities included in the Statement of Financial Position $'000 $'000 Balance at 1 July 13,266 7,368 Addition - 13,912 Modifications (1,980) (5,926) Interest (recognised)/incurred 1,097 (638) Payment of lease liabilities (2,066) (1,437) Foreign exchange movements - (13) Balance at 30 June 10,317 13,266 Current 1,041 1,177 Non-current 9,276 12,089 10,317 13,266 Amounts recognised in Statement of Comprehensive Income Depreciation charge of right-of-use assets 1,621 1,992 Interest (income)/expense on lease liabilities 1,097 (638) Amounts recognised in Statement of Cash Flows Interest paid (1,196) (62) Payment of lease liabilities (870) (1,375) 14.1 Leases The Group assesses whether a contract is or contains a lease, at inception of the contract. The Group recognises a right - of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets. For these leases, the Group recognises the lease payments as an operating expense on a straight -line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If the rate cannot be readily determined, the lessee uses its incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise: • Fixed lease payments (including in-substance fixed payments), less any lease incentives receivable; • Variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date; • The amount expected to be payable by the lessee under residual value guarantees; • The exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and • Payments to penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 73 14. Lease liabilities (continuation) The Group remeasures the lease liability and makes a corresponding adjustment to the related right -of-use asset whenever: • The lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate. • The lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate • A lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification. Variable rents that do not depend on an index or rate are not included in the measurement of the lease liability and the right-of-use asset. The related payments are recognised as an expense in the period in which the event or condition that triggers those payments occurs and are included in “Other expenses” in profit or loss (see note 2). The Group has applied judgement to determine the lease term for some lease contracts in which it is a lessee that include renewal options. The assessment of whether the Group is reasonably certain to exercise such options impacts the lease term, which significantly affects the amount of lease liabilities and right-of-use assets recognised.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 74 15. Other financial liabilities FY26 FY25 Note $'000 $'000 Present value of future trail commission payable: - White label loans - On balance sheet loans 3,235 84,296 3,995 85,815 22 87,531 89,810 Current 24,230 23,722 Non-current 63,300 66,088 87,531 89,810 Recognition and measurement The Group makes trail commission and service provider fee payments to brokers and mortgage originators for originating on balance sheet and white label loans based on individual loan balances outstanding and the loan continuing to perform. White label loans Fair value of future trail commission payable was recognised on the origination of white label loans. This represents the NPV of the expected future trail commission payable under the origination and management agreement, less ongoing servicing costs not covered by transaction fees. On balance sheet loans On initial recognition of a mortgage loan at origination the Group recognises a trail commission financial liability which is recognised based on net present value of expected future trailing commission payable to brokers. The Group’s estimate of net present value requires judgement as to the assumptions including expected run off rate and discount rate. Subsequent to initial recognition the trail commission liability is measured at amortised cost. A corresponding trail commission asset is capitalised to the loan as a transaction cost. During FY26, an independent actuarial firm was engaged to review the Group’s net present value model. This engagement constituted a comprehensive assessment of the model, including key assumptions. The resulting impact of this assessment has been accounted for as a change in accounting estimate per AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors. Key judgements and assumptions Trailing commissions are paid to brokers over the life of loans based on the loan book balance outstanding, if the respective loans are in good order and not in default. The discounted cash flow valuation of trail commission liabilities is classified as level 3 in the fair value measurement hierarchy. The key assumptions underlying the valuation or trail commission payable to brokers as at 30 June 2026 are summarised below: FY26 FY25 Average loan life/Annualised run-off - Prime/Near Prime - Non-conforming - NZ 19%-23% 20%-27% 21%-24% 17%-22% 26%-32% 26%-32% Run-off is a combination of discharges, prepayments and scheduled loan repayments. Discount rate 9.6% 9.3% This is the rate that reflects the current market assessment of the time value of money and the risks that are specific to the estimated future cash flows.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 75 15. Other financial liabilities (continuation) Exposure to run off rate risk – Sensitivity analysis Management does not expect the run -off rate to change in excess of 10% positive or 10% negative of the rates revealed through an analysis of the Group’s historical loan data. The change estimate is calculated based on historical movements of the prepayment rate. The effect from changes in prepayment rates, with all other variables held consistent, is as follows: FY26 FY25 $000 $'000 Impact on trail commission liability – Increase/(Decrease) + 10% (6,811) (6,382) - 10% 7,731 7,269 16. Other liabilities FY26 FY25 $'000 $'000 Non-current Reinsurance claim reserve 655 520 655 520 The reinsurance claim reserve offsets with the reinsurance claim receivable amount in Note 10. Reinsurance claim reserve is measured at the value that is expected to be paid for incurred claims. 17. Provisions FY26 FY25 $’000 $'000 Employee benefits 4,479 4,258 Office make good 346 346 Other 1,127 1,553 5,952 6,157 Current 4,921 5,207 Non-current 1,031 950 5,952 6,157 Employee benefits Make good Other Total $’000 $’000 $’000 $’000 Balance at 1 July 2025 4,258 346 1,553 6,157 Provision recognised 3,187 - (143) 3,044 Provision utilised/released (2,966) - (283) (3,249) Balance at 30 June 2026 4,479 346 1,127 5,952
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS KEY NUMBERS AND POLICIES FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 76 17. Provisions (continuation) Recognition and measurement Provisions are recognised when: • the Group has a present obligation (legal or constructive) as a result of a past event; • it is probable that the Group will be required to settle the obligation; and • a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). 17.1 Employee benefits A liability is recognised for benefits accruing to employees where the liability can be measured reliably and payment is probable, in respect of: • wages and salaries; • annual leave; • long service leave; and • on-costs relating to the above. Liabilities recognised in respect of employee benefits expected to be settled within 12 months, are measured at their nominal values using the remuneration rate expected to apply at the time of settlement. Liabilities recognised in respect of employee benefits which are not expected to settle within 12 months are measured at the present value of the estimated future cash outflows to be made by the Group in respect of services provided by employees up to the reporting date. The liability for long service leave is recognised in the provision for employee benefits. It is measured as the present value of expected future payments for the services provided by employees up to the reporting date. Expected future payments are discounted using market yields at the reporting date on high quality corporate bonds with terms to maturity that match, as closely as possible, the estimated future cash outflows. 17.2 Office make good Where a condition of the Group’s lease premises is to return the property in its original condition at the end of a lease term. The Group recognises a provision for the expected cost of the refurbishment at the end of the lease. 17.3 Other Other provision includes various items including but not limited to organisational restructuring costs, legal costs and customer fee refund.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CAPITAL FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 77 18. Capital management The Group’s capital management objectives The Group manages its capital to ensure that entities in the Group will be able to continue as a going concern while maximising the return to stakeholders through the optimisation of the debt and equity balance. The Group operates a warehouse for securitisation funding model for its lending business and as such makes decisions on the amount of capital invested in the notes or warehouses based on alternate sources of funding and the expected return on amounts invested and with regard to the Company's cost of capital. The capital structure of the Group consists of net debt (borrowings net of cash balances) and equity of the Group (comprising issued capital, reserves and retained earnings). The Group is not subject to any externally imposed capital requirements. The Board is responsible for monitoring and approving the capital management framework within which management operates. The purpose of the framework is to prudently manage capital whilst optimising the debt and equity structure. FY26 FY25 Equity Note $'000 $'000 Issued capital 20 108,954 108,981 Reserves 20.3 (11,522) (30,437) Retained earnings 20.3 270,434 286,505 367,866 365,049
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CAPITAL FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 78 19. Dividends FY26 FY25 $’000 $’000 Declared and paid during the period (fully-franked at 30 percent) Final dividend for FY25: $0.035 (FY24: $0.035) 13,8441 13,9831 Interim dividend for FY26: $0.040 (Interim FY25: $0.035) 15,8202 13,9942 Special dividend for FY26: $0.09 (FY25: $0.12) 35,5963 47,4633 65,260 75,440 Proposed and unrecognised as a liability (fully-franked at 30 percent) Final dividend for FY26: $0.060 (FY25: $0.035) 23,732 13,844 23,732 13,844 Franking credit balance Franking credits available for future years at 30% adjusted for the payment of income tax and dividends receivable or payable 113,510 117,892 Impact on the franking account of dividends proposed before the financial report was issued but not recognised as a distribution to equity holders during the period. (10,171) (5,933) 1. The final FY25 dividend paid is net of $nil (final FY24: $17,404) dividend paid to treasury shares held by the Group, eliminated on consolidation. 2. The interim FY26 dividend paid is net of $1,182 (interim FY25: $5,877) dividend paid to treasury shares held by the Group, eliminated on consolidation. 3. The special dividend paid on 24 March 2026 is net of: $2,659 dividend paid to treasury shares held by the Group, eliminated on consolidation.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CAPITAL FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 79 20. Issued capital and reserves FY26 FY25 $'000 $'000 Issued capital 170,522 170,522 Treasury shares (27) - Share capital 170,495 170,522 Reverse acquisition reserve1 (61,541) (61,541) 108,954 108,981 1. As a result of reverse acquisition accounting in the Resimac/Homeloans merger, an account was created as a component of equity. This account called ‘Reverse acquisition reserve’ is similar in nature to share capital. The Reverse acquisition reserve is not available for distribution. Issued capital as at 30 June 2026 was $170,522,335 (395,529,012 ordinary shares). There were no movements in issued capital during the year. The Group’s on market share buyback scheme ended on 10 December 2025. 20.1 Issued capital No. of shares – Thousands $’000 Balance at 1 July 2025 395,529 170,522 Balance at 30 June 2026 395,529 170,522 Fully paid ordinary shares, which have no par value, carry one vote per share and carry a right to dividends.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CAPITAL FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 80 20. Issued capital and reserves (continuation) 20.2 Treasury shares Treasury shares held in Resimac Group Ltd by Resimac EST Pty Ltd as Trustee for the Resimac Group Limited Employee Share Trust, are for the benefit of eligible employees of the Resimac Group Employee Share Option and Rights Plan . Shares issued to employees are recognised on a first-in-first-out basis. No. of shares – Thousands $’000 Balance at 1 July 2024 333 415 Acquisition of new treasury shares during the year 1,158 1,024 Allocation of shares under FY20 LTI Share Options (1,275) (1,169) Allocation of shares under Employee Share Trust (216) (270) Balance at 30 June 2025 - - Acquisition of new treasury shares during the year 245 236 Allocation of shares under Employee Share Trust (218) (209) Balance at 30 June 2026 27 27
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CAPITAL FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 81 20. Issued capital and reserves (continuation) 20.3 Reserves (net of income tax) and retained earnings Reserves Retained earnings Cash flow hedge reserve1 Foreign currency translation reserve Fair value reserve Share- based payment reserve Other reserve Non- controlling interest $’000 $'000 $'000 $'000 $’000 $’000 $’000 Balance at 1 July 2025 286,505 (17,555) 22 (1,620) (2,092) (9,192) 99 Profit after tax 49,189 - - - - - 126 Changes in fair value of cash flow hedges, net of tax - 21,917 - - - - - Currency translation differences - - (3,094) - - - - Equity dividends (65,260) - - - - - - Share-based payments - - - - 92 - - Non-controlling interest capital contributions - - - - - - 1,649 Balance at 30 June 2026 270,434 4,362 (3,072) (1,620) (2,000) (9,192) 1,874 Balance as at 1 July 2024 327,361 (5,013) (721) (8,052) (1,918) (7,982) 311 Profit after tax 34,584 - - - - - - Changes in fair value of cash flow hedges, net of tax - (12,542) - - - - - Currency translation differences - - 743 - - - - Fair value movement on investment through OCI, net of tax - - - 6,432 - - - Equity dividends (75,440) - - - - - - Share-based payments - - - - (174) - - Acquisition of non-controlling interest - - - - - (1,210) (212) Balance at 30 June 2025 286,505 (17,555) 22 (1,620) (2,092) (9,192) 99 1. The cash flow hedge reserve includes the Foreign Currency Basis Spread (FCBS) arising from cross -currency foreign exchange contracts designated as hedging instruments. The cash flow in fair value of cash flow hedges (net of tax) includes: FY26 FY25 $'000 $'000 Gross change in fair value 70,240 11,631 Reclassification from cash flow hedge reserve to profit or loss (39,031) (29,494) Tax impact (9,292) 5,321 Net change in fair value (21,917) (12,542)
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CAPITAL FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 82 20. Issued capital and reserves (continuation) 20.4 Nature and purpose of reserves Cash flow hedge reserve The cash flow hedging reserve represents the cumulative effective portion of gains or losses arising on changes in fair value of hedging instruments entered into for cash flow hedges. The cumulative gain or loss arising on changes in fair value of the hedging instruments will be reclassified to profit or loss only when the hedged transaction affects the profit or loss, or included as a basis adjustment to the non-financial hedged item, consistent with the Group’s accounting policy. Foreign currency translation reserve Exchange differences relating to the translation of the results and net assets of the Group's New Zealand operations from its functional currency to the Group's presentation currency are recognised directly in other comprehensive income and accumulated in the foreign currency translation reserve. Share-based payment reserve The share-based payments reserve is used to recognise the value of equity-settled share-based payments provided to employees, including KMP, as part of their remuneration. Refer to Note 30 for further details of these plans. Other reserve Other reserves represent the recognition made directly in equity for the difference between the amount by which the Non-Controlling Interest (NCI) was adjusted, and the fair value of consideration paid on Resimac’s acquisition of the remaining 40% shares of RAF on 1 February 2021 and remaining 49% shares of 23 Degrees Capital Partners Pty Ltd on 1 July 2024.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CAPITAL FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 83 21. Earnings per share FY26 FY25 Profit attributable to ordinary equity holders of the parent ($'000) 49,189 34,584 WANOS1 used in the calculation of basic EPS (shares, thousands) 395,481 398,797 Dilutive effect of share options and grants 2,210 1,936 WANOS1 used in the calculation of diluted EPS (shares, thousands) 397,691 400,733 Earnings per share Basic (cents per share) 12.44 8.67 Diluted (cents per share) 12.38 8.63 2. Weighted average number of shares Calculation of earnings per share 21.1 Basic earnings per share Basic earnings per share is calculated as net profit attributable to the ordinary equity holders of the parent, adjusted to exclude any costs of servicing equity (other than dividends), divided by the WANOS adjusted for any bonus element. 21.2 Diluted earnings per share Diluted earnings per share is calculated by: • dividing the net profit attributable to ordinary equity holders of the parent; by the • WANOS outstanding during the year; plus • the WANOS that would be issued on the conversion of all the dilutive potential ordinary options or rights into ordinary shares.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 84 22. Financial assets and financial liabilities The Group holds the following financial instruments: FY26 FY25 Financial assets Basis of measurement Note $’000 $'000 Cash and cash equivalents Amortised cost 4 722,507 775,737 Trade and other receivables (excluding prepayments) Amortised cost 5 251 287 Loans and advances Amortised cost 6 16,582,891 15,975,308 Equity in Unlisted Companies FVTPL 7 4,800 4,800 Derivative financial assets – Cross currency swaps FVCHR 23 - 25,400 Derivative financial assets – Interest rate swaps FVCHR 23 8,597 83 Derivative financial assets – Interest rate swaps FVTPL 23 - 86 17,319,046 16,781,701 Financial liabilities Trade and other payables Amortised cost 12 26,755 26,648 Interest-bearing liabilities Amortised cost 13 16,860,186 16,296,205 Lease liabilities Amortised cost 14 10,317 13,266 Present value of trail commission payable Amortised cost 15 87,531 89,809 Derivative financial liabilities – Cross currency swaps FVCHR 23 27,178 33,530 Derivative financial liabilities – Interest rate swaps FVCHR 23 892 20,948 Derivative financial Liabilities – Interest rate swaps FVTPL 23 7 308 17,012,866 16,480,714 22.1 Fair values measurements and valuation processes 22.1.1 Fair value hierarchy The different levels have been defined as follows: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilitie s; • Level 2: inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and • Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 85 22. Financial assets and liabilities (continuation) The following assets and liabilities are measured at fair value by the Group for financial reporting purposes : Fair value hierarchy Valuation technique(s) and key inputs (s) FY26 $’000 FY25 $’000 $’000 $’000 Financial assets Equity in Unlisted Companies Level 3 Acquisition value and financial performance since acquisition adjusted for changes in market and macroeconomic factors 4,800 4,800 Interest rate swaps Level 2 Discounted cash flow Forward interest rates, contract interest rates 8,597 169 Cross currency swaps Level 2 Discounted cash flow Forward interest rates, contract interest rates - 25,400 Financial liabilities Interest rate swaps Level 2 Discounted cash flow Forward interest rates, contract interest rates 899 21,256 Cross currency swaps Level 2 Discounted cash flow Forward interest rates, contract interest rates 27,178 33,530 In the year to 30 June 2026 there has been no change in the fair value hierarchy or the valuation techniques applied to any of the balances above. For further information on the use of derivatives refer to Note 23 Financial risk management. 22.1.2 Fair value of financial assets and liabilities that are not measured at fair value (but fair value disclosures are required) With the exception of future trail commission payable and fixed interest rate loans that are initially recognised at fair value and subsequently carried at amortised cost, management consider that the carrying amounts of financial assets and liabilities recognised in the consolidated financial statements approximate their fair values. The fair value of future trail commission payable will be approximately $3.2 million (FY25: $3.7 million) lower and the fair value of the fixed interest rate loans will be approximately $1 million (FY25: $20 million) lower than their carrying values at amortised cost at 30 June 2026. 22.2 Financial assets and liabilities 22.2.1 Recognition and initial measurement All financial assets and financial liabilities are initially recognised when the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or finance liability is initial ly measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 86 22. Financial assets and liabilities (continuation) 22.2.2 Classification and subsequent measurement 22.2.2.1 Financial assets On initial recognition, a financial asset is classified as measured at: • amortised cost • fair value through other comprehensive income (FVOCI) – debt instrument • fair value through other comprehensive income (FVOCI) – equity instrument • fair value through cash flow hedge reserve (FVCHR) – cash flow hedges • fair value through profit or loss (FVTPL) Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model. A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL: • it is held within a business model whose objective is to hold assets to collect contractual cash flows; and • its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: • it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and • its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment -by-investment basis. See Note 23.3 for recognition and measurement of derivatives designated as cash flow hedges. All financial assets not classified as measured at amortised cost or FVOCI or FVCHR as described above are measured as FVTPL. This includes majority of the Group’s interest rate swaps derivative financial assets and investment securities. On initial recognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised cost or at FVOCI or at FVCHR as at FVTPL if doing so eliminates or subsequently reduces an accounting mismatch that would otherwise arise. 22.2.2.2 Financial assets – Business model assessment The Group determines the business model at the level that reflects how groups of financial assets are managed. In determining the business model, all relevant evidence that is available at date of assessment is used including: • how the performance of the financial assets held within that business model are evaluated and reported to the Group’s KMP; • the risks that affect the performance of the business model (and the financial assets held within that business model) and, in particular, the way in which those risks are managed; and • how managers of the business are compensated (for example, whether compensation is based on the fair value of the assets managed or on the contractual cash flows collected). Financial assets that are held for trading or are managed and whose performance is evaluated on a fair value basis are measured at FVTPL.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 87 22. Financial assets and liabilities (continuation) 22.2.2.3 Financial assets – Assessment whether contractual cash flows are solely payments of principal and interest For the purpose of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (e.g. liquidity risk and administrative costs), as well as a profit margin. In assessing whether the contractual cash flows are solely payments of principal and interest, the Group considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amounts of contractual cash flows such that it would not meet this condition. In making this assessment, the Group considers: • contingent events that would change the amount or timing of cash flows; • terms that may adjust the contractual coupon rate, including variable-rate features; • prepayment and extension features; and • terms that limit the Group’s claim to cash flows from specified assets (e.g. non-recourse features). A prepayment feature is consistent with the solely payments of principal and interest criterion if the prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding, which may include reasonable additional compensation for early termination of the contract. Additionally, for a financial asset acquired at a discount or premium to its contractual par amount, a feature that permits or requires prepayment at an amount that substantially represents the contractual par amount plus accrued (but unpaid) contractual interest (which may also include reasonable additional compensation for early termination) is treate d as consistent with this criterion if the fair value of the prepayment feature is insignificant at initial recognition. 22.2.2.4 Financial Assets – Subsequent measurement and gains and losses Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognised in profit or loss. Financial assets at amortised cost These assets are subsequently measured at amortised cost using the effective interest method. The amortised cost is reduced by expected impairment loss. Interest income, foreign exchange gains and losses and impairment are recognised in profit or loss. Any gain or loss on derecognition is recognised in profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income is calculated using the effective interest method. Other net gains and losses are recognised in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Equity investments at FVOCI These assets are subsequently measured at fair value. Dividends are recognised as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognised in OCI and are never reclassified to profit or loss. On disposal or derecognition of investment the cumulative gain or loss is not reclassified to profit or loss, instead it is transferred to retained earnings. Derivatives at FVCHR See Note 23.3 for derivatives designated as cash flow hedges.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 88 22. Financial assets and liabilities (continuation) 22.2.2.5 Financial liabilities – Classification, subsequent measurement and gains and losses Financial liabilities are classified as either financial liabilities at FVPTL or other financial liabilities. Financial liabilities at FVTPL Financial liabilities are classified as at FVTPL where the liability is either held for trading or designated at fair value through profit or loss. A financial liability is held for trading if: • it has been incurred principally for the purpose of repurchasing it in the near term; or • on initial recognition it is a part of a portfolio of identified financial instruments that the Group manages together and has a recent actual pattern of short-term profit-taking; or • it is a derivative that is not designated and effective as a hedging instrument. A financial liability other than a financial liability held for trading may be designated as at FVTPL upon initial recognition if: • such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or • the financial liability forms part of a group of financial assets or financial liabilities or both, which is managed and its performance evaluated on a fair value basis, in accordance with the Group’s documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or • it forms part of a contract containing one or more embedded derivatives, and AASB 9 permits the entire combined contract to be designated as at FVTPL. Financial liabilities at FVTPL are stated at fair value with any gains or losses arising on remeasurement recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any interest paid on the financial liability a nd is included in the ‘other gains and losses' line item. Other financial liabilities Other financial liabilities (including borrowings, trade and other payables and trail commission liability) are subsequently measured at amortised cost using the effective interest rate method. The effective interest rate method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, to the net carrying amount on initial recognition.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 89 22. Financial assets and liabilities (continuation) 22.2.3 Derecognition 22.2.3.1 Financial assets The Group derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantively all of the risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. The Group enters into transactions whereby it transfers assets recognised in its statement of financial position but retains either all or substantially all of the risks and rewards of the transferred assets. In these cases, the transferred assets are not derecognised. 22.2.3.2 Financial liabilities The Group derecognises a financial liability when its contractual obligations are discharged or cancelled or expire. The Group also derecognises a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognised at fair value . On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognised in profit or loss. 22.2.4 Modification of financial instruments A financial instrument is modified when its original contractual cash flows are renegotiated or modified. A financial asset that is renegotiated is derecognised if the rights to receive cash flows from the existing agreement have expired, either through replacement by a new agreement or the existing terms are modified to that effect. A financial liability that is renegotiated is derecognised if the existing agreement is cancelled and a new agreement is made on substantially different terms or if that existing terms are modified such that the renegotiated financial instrument is a substantially different financial instrument. Where the modification results in derecognition of the original financial instrument, the new financial instrument is recorded initially at its fair value and the resulting difference is recognised in profit or loss in accordance with the nature of the financial instrument as described in the derecognition of financial assets and liabilities policy. For financial instruments measured at amortised cost, and for debt financial assets measured at FVOCI, when modification does not result in derecognition, a gain or loss is recognised in profit or loss in accordance with the nature of the financial instrument as described in the derecognition of financial assets and liabilities policy. The gain or loss is measured as the adjustment of the gross carrying amount to reflect the renegotiated or modified cont ractual cash flows, discounted at the instrument’s original effective interest rate.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 90 22. Financial assets and liabilities (continuation) 22.2.5 Impairment of financial assets The Group recognises loss allowances for expected credit loss (ECL) on: • Trade and other receivables • Loans and advances measured at amortised cost • Contract assets The Group applies the following approach for measuring credit provisions: • Specific Provisions (Stage 3); • ECL modelled Collective Provision in line with AASB 9 requirements; and • Post model overlays including macroeconomic, model and management overlays . ECL’s are monitored regularly in conjunction with monthly hardship and arrears metrics provided to the Group’s Asset and Liabilities Committee (ALCO). The Group takes a tailored loan by loan approach to managing credit risk. Measurement of ECLs ECLs are a probability -weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). The Group’s ECL model is segmented by portfolio and products as appropriate, and all parameters are considered for each segment of the book individually to ensure the credit risk is accurately captured. The Group has continued to engage an independent actuarial firm to assist management in the collective provisioning process. The key inputs used in measuring ECL include: (a) probability of default: the PD is the likelihood of default, applied to each individual underlying exposure. (b) loss given default: the LGD is an estimate of the severity of loss following a default event, taking into consideration the mitigating effect of mortgage insurance if applicable, collateral and time value of money. Mortgage insurance is reflected indirectly in the LGD, as mortgage insured loans are not expected to incur loss following default. Given the low number of historic observed losses in the Groups home loan portfolio, historically, an external benchmark has been used in the Groups home loan ECL loss calculation. The benchmark has been determined through analysis of actual loss history benchmarked against both major and non-bank peers for residential mortgages. The benchmark LGD remains significantly above the Groups observed LGD. Management maintain that both the LGD values and the portfolio remain adequately provisioned to withstand any unexpected economic downturn. (c) exposure at default: the EAD represents the estimated exposure in the event of a default.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 91 22. Financial assets and liabilities (continuation) (d) Significant increase in credit risk: An asset moves to stage 2 when its credit risk has increased significantly since initial recognition. A significant increase in credit risk is identified before the exposure has defaulted and at the latest when exposure becomes 31 days past due. When determining whether the credit risk of a financial asset has increased significantly since the initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and readily available, including both quantitative and qualitative information and analysis, based on the Group’s historical experience (e.g. a client experiencing hardship). (e) Post model overlays: Management apply various overlays to ensure the Group has sufficient Balance Sheet coverage for known and potential credit risk factors that are not modelled in the above assumptions including: Model risk overlay – applied by management to the base ECL model for potential errors in development and implementation of any of the quantitative elements underpinning the model. Model risk overlay is applied at 10% of modelled ECL (base ECL and macroeconomic model overlay). Macroeconomic overlay – applied to the base ECL model to account for potential macroeconomic factors not captured by the model’s output. In conducting its forward-looking assessment, the Group evaluated a range of factors including macroeconomic forecasts, inflation rates, GDP growth, unemployment trends, and interest rates. The home loans and asset finance portfolios maintained overlay levels at approximately 27% and 22%, respectively of the base modelled ECL. Management overlay – applied by management when a higher Balance Sheet provision coverage is considered appropriate. For FY26, an additional management overlay of $3.2 million has been allocated to the home loans portfolio, supplementing the modelled collective provisions. This decision reflects the consideration for emerging arrears pressures, ongoing cost-of-living challenges and uncertainty in the housing market. The collective provision coverage of the Group has been increased by modelling three hypothetical macroeconomic scenarios. Credit risk factors of PD and LGD used in the ECL calculation are point -in-time estimates based on current conditions and adjusted to include the impact of probability-weighted future forecast economic scenarios. Forward looking PD and LGD factors are modelled based on macroeconomic scenarios, in addition to the base ECL model which uses the preceding 60 months of arrears and loss history for the home loans portfolio and 36 months for the asset finance portfolio. Macroeconomic scenarios consider the impacts of key forward-looking variables that are likely to affect the ability of borrowers to service their loan obligations in the future. Data in relation to inflation, GDP (QoQ growth), unemployment and cash rates have been factored in line with forecasts published by the RBA and RBNZ. Each scenario is allocated a weighting and applied to aggregate a macroeconomic overlay for inclusion in the Group’s total collective provision. The scenario weightings applied at 30 June 2026 are in the table below: Scenarios Scenario Probability Weighting Upside Base Downside1 FY26 - 50.0% -20.00% & -30.00% FY25 15.00% 60.0% -25.00% 1. In FY26, two downside scenarios aligned to the RBA's two published adverse scenarios was used (i.e. inflation/rate-led and demand-led). The Group segments the base ECL model to account for differing risk profiles and historical experiences across various portfolios (such as home loans and asset finance) and, where relevant, across different product lines within each portfolio (for example, Prime and Specialist loans).
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 92 22. Financial assets and liabilities (continuation) The Group aligns its approach to credit risk in line with the segmentation of AASB 9. As such, the ECL for financial assets measured at amortised cost is determined with reference to the following stages: Stage 1: 12 month ECL At initial recognition, for financial assets without a significant increase in credit risk (SICR), or for financial assets wh ere an increase in credit risk is considered to be low, ECL is determined based on PD over the next 12 months and the LGD, adjusted for forward looking estimates (FLE). Stage 2: Lifetime ECL not credit impaired Where there has been a SICR, the ECL is determined with reference to the financial asset’s lifetime PD, the lifetime losses associated with that PD and LGD, adjusted for FLE. The Group assesses whether there has been a SICR since initial recognition based on qualitative, quantitative, and reasonable and supportable FLE that includes management judgement. Use of more alternative criteria could result in significant changes to the timing and amount of ECL to be recognised. Lifetime ECL is generally determined based on the average maturity of the financial asset. For the home loans portfolio, the Group also classifies certain loans that have a resolved hardship status as stage 2 for an observation period after the cessation of the hardship arrangement. For the asset finance portfolio, any loans currently in hardship have been captured and held at an elevated credit risk while the hardship arrangement is ongoing. Stage 3: Lifetime ECL credit impaired Financial assets are classified as stage 3 where they are determined to be credit impaired, which generally matches the Group’s definition of default which includes exposures that are at least 90 days past due, and where the obligor is unlikely to pay without recourse against available collateral. The ECL for credit impaired financial assets is generally measured as the difference between the discounted contractual and discounted expected cash flows from the individual exposure. For credit impaired exposure that are modelled collectively, ECL is measured as the product of the lifetime PD, LGD, and EAD, adjusted for FLE. Interest income is determined with reference to the financial asset’s amortised cost carrying value, being the financial asset’s net carrying value after the ECL provision. Stage 3: Impaired assets (specific) Outside of the ECL, where assets are more than 90 days past due and a shortfall between the loan balance and the underlying security has been identified, a specific provision is raised for the shortfall. The Group measures loss allowances at an amount equal to the lifetime ECL for stage 2 or stage 3 assets if the credit risk on that financial instrument has increased significantly since recognition (stage 2), or are credit impaired (stage 3), or if the fin ancial instrument is a purchased or originated credit -impaired financial asset (stage 3). If the credit risk on a financial instrument has not increased significantly since initial recognition (except for a purchased or originated credit - impaired financial asset), the Group measures the loss allowance for that financial instrument at an amount equal to a 12 month ECL for stage 1 assets. Credit-impaired financial assets The movement between stage 2 and 3 will be based on whether financial assets are credit-impaired at the reporting date. A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of the fi nancial assets have occurred. Evidence that a financial asset is credit -impaired includes observable data about the following events: - significant financial difficulty of the borrower; or - breach of contract, such as a default or delinquency in interest or principal payments; or - becoming apparent that the borrower will enter bankruptcy or financial re-organisation; or - past experience of collecting payments; or - an increase in the number of delayed payments in the portfolio past the average credit period; or - observable changes in national or local economic conditions that correlate with default on receivables. See Note 23.6 for further details on credit-impaired financial assets.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 93 22. Financial assets and liabilities (continuation) Definition of default The Group considers that default has occurred at 90 days past due. Loans are also specially provisioned for any other material information that come to light (e.g. bankruptcy). 23. Financial risk management 23.1 Financial risk management objectives The Group's Corporate Treasury function: • implements and executes the treasury and funding strategy; • co-ordinates access to domestic and international financial markets; and • monitors and manages the financial risks relating to the operations of the Group through internal monitoring tools which analyse exposures by degree and magnitude of risks. These risks include: • market risk (including currency risk and interest rate risk); • credit risk; and • liquidity risk. 23.2 Derivative financial instruments The Group seeks to minimise the effects of currency risks on bonds issued in foreign currencies and interest rate risks on floating rate borrowings by using derivative financial instruments to hedge risk exposures. The use of financial derivatives is governed by the Group's Interest Rate Risk Management Policy approved by the Board of Directors, which provide written principles on: • foreign exchange risk; • interest rate risk; • credit risk; • the use of financial derivatives and non-derivative financial instruments; and • the investment of excess liquidity. Compliance with policies and exposure limits is reviewed by the Board on a continuous basis. The Group does not enter into or trade financial instruments, including derivative financial instruments, for speculative or proprietary purposes.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 94 23. Financial risk management (continuation) The table below summarises the Group’s exposure to financial risks and how these risks are managed. Risk Exposure arising from Measurement Management Market risk – currency Recognised financial assets and liabilities not denominated in Australian dollars Foreign currency denominated profit or losses Cash flow forecasting Sensitivity analysis Cross currency interest rate swaps Cash flow management and matching Market risk – interest rate Mismatch in interest rates between assets and liabilities Sensitivity analysis Interest rate swaps Market risk – equity investment valuation Investments in equity securities Sensitivity analysis Equity investments not held for trading Credit risk Loan portfolio and bond exposures, counterparty risk Credit risk analysis Rating agency criteria and analyses Diversification, adaptive capital structures, strong collections/portfolio management, quality of collateral, rating agency provisions in transactions documents Liquidity risk Borrowings, derivative financial liabilities Rolling cash flow forecasts Availability of committed credit lines and borrowing facilities, securitisation, capital relief transactions, structuring terms of obligations, diversification of funders Recognition and measurement 23.3 Hedge accounting The Group designates certain hedging instruments, which includes derivatives in respect of foreign currency and interest rate risks, as cash flow hedges. At the inception of the hedge relationship the Group documents the relationship between the hedging instrument and hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Group documents whether the hedging instrument that is used in a hedging relationship is effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk, which is when the hedging relationships meet all of the following hedge effectiveness requirements: • there is an economic relationship between the hedged item and the hedging instrument; • the effect of credit risk does not dominate the value changes that result from that economic relationship; and • the hedge ratio is 1:1.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 95 23. Financial risk management (continuation) 23.3.1 Cash flow hedges The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in other comprehensive income and accumulated under the heading of cash flow hedging reserve. The gain or loss relating to the ineffective portion is recognised immediately in profit or loss. Amounts previously recognised in other comprehensive income and accumulated in equity are reclassified to profit or loss, in the same line as the recognised hedged item. Some of the Group’s interest rate swaps are not designated as hedging instruments for accounting purposes, the changes in the fair value are recognised immediately in profit or loss for these interest rate swaps. Hedge accounting is discontinued when: • the hedge strategy and objective is no longer met; • the hedging instrument expires or is sold, terminated, or exercised; or • the Group no longer qualifies for hedge accounting. Any cumulative gain or loss recognised in other comprehensive income and accumulated in equity at that time remains in equity and is recognised when the forecast transaction is ultimately recognised in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognised immediately in profit or loss. The following table details the amounts relating to items designated as cash flow hedges: USD CCS JPY CCS GBP CCS IRS 30 June 2026 (Disclosed in AUD) $’000 $’000 $’000 $’000 Notional amount - 150,000 154,914 1,892,417 Average pay fixed contract rate (FX rate per AUD) Average pay fixed interest rate - - 94.00 - 0.51 - - 3.91% Carrying amount of the hedging instrument • Assets - - - 8,597 • Liabilities - (23,999) (3,179) (892) Total carrying amount of the hedging instrument - (23,999) (3,179) 7,705 Change in value of hedging instrument (3,850) 9,531 (24,729) 28,577 Change in value of hedged item 3,848 (7,151) 25,055 (28,577) Change in value of hedging instrument recognised in cash flow hedge reserve (2) 2,380 326 28,577 Hedge ineffectiveness recognised in profit or loss - - - - Amount reclassified from hedge reserve to profit or loss due to: - FX spot movement - Hedging gain/loss recognised on settlement - (280) (23,520) (4,089) (2,323) (5,273) - (3,546)
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 96 23. Financial risk management (continuation) USD CCS JPY CCS GBP CCS IRS 30 June 2025 (Disclosed in AUD) $’000 $’000 $’000 $’000 Notional amount 52,935 350,000 316,239 2,484,660 Average fixed contract rate (FX rate per AUD) Average fixed interest rate 0.70 - 86.00 - 0.51 - - 3.85% Carrying amount of the hedging instrument • Assets 3,850 - 21,550 83 • Liabilities - (33,530) - (20,948) Total carrying amount of the hedging instrument 3,850 (33,530) (21,550) (20,865) Change in value of hedging instrument (37,695) 94,309 28,740 (22,407) Change in value of hedged item 38,535 (91,548) (27,796) 22,407 Change in value of hedging instrument recognised in cash flow hedge reserve 840 2,761 943 (22,407) Hedge ineffectiveness recognised in profit or loss - - - - Amount reclassified from hedge reserve to profit or loss due to: - FX spot movement - Hedging gain/loss recognised on settlement 3,848 (1,922) (30,670) (9,665) 22,732 (10,621) - (3,195) 23.3.2 Derivative financial assets and liabilities The carrying values are as follows: FY26 FY25 $000 $000 Derivative financial assets Cross currency swaps - 25,400 Interest rate swaps 8,597 169 8,597 25,569 Derivative financial liabilities Cross currency swaps 27,178 33,530 Interest rate swaps 899 21,256 28,077 54,786 The Group seeks to minimise the effects of foreign currency and some interest rate exposures by using derivative instruments to hedge these positions. Derivatives are initially recognised at fair value at the date derivative contracts are entered into, and subsequently measured at their fair value at each reporting period. During the period, currency movements drove changes in valuation of the Groups’ cross currency swaps hedged to the Group’s US RMBS bonds. These movements in the derivative balances are matched with the USD, GBP and JPY bond liabilities, with the profit/(loss) on swaps recognised in Other Comprehensive Income.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 97 23. Financial risk management (continuation) 23.4 Market risk Market risk is the risk of an adverse impact on the Group’s earnings resulting from changes in market factors, such as interest rates, equity prices and foreign exchange rates. 23.4.1 Interest rate risk Interest rate risk is the risk that the Group will experience deterioration in its financial position as interest rates chang e over time. Interest rate exposure is driven by interest rate mismatches between assets and liabilities (i.e. borrowing at floating interest rates and lending with fixed interest rates). Interest rate risk is managed by entering into interest rate and overnight index swaps subject to the Group’s hedging and derivatives policies. 23.4.2 Interest rate risk – Sensitivity analysis The majority of the Group’s liabilities are issued through warehouse facilities and securitisation trusts. Under such arrangements, the repayment profile of the bonds is matched to the repayments collected from the loan assets. The Group has calculated the impact of a potential increase or decrease in borrowing costs in limited recourse entities for the year in the event of a +/- 10bps change in interest rates as shown in the table below: FY26 FY25 $000 $000 10bps +/- Loans and advances Debt securities on issue and issuance facilities 16,513 16,783 15,908 16,232 In relation to the Group’s interest rate swaps, if interest rates had been 10bps higher/lower and all other variables were held constant, the Groups: • profit for the year ended 30 June 2026 would decrease/increase by $nil (FY25: $73 thousand) • cash flow hedge reserves would decrease/increase by $2.8 million (FY25: $3.1 million). 23.4.3 Interest rate swap contracts Under interest rate swap contracts, the Group agrees to exchange the difference between fixed and floating rate interest amounts calculated on agreed notional principal amounts. Such contracts enable the Group to mitigate the risk of changing interest rates on the cash flow exposures on the issued variable rate debt. The fair value of interest rate swaps at the end of the reporting period is determined by discounting the future cash flows using the interest rate curves at the end of the reporting period and the credit risk inherent in the contract and is disclosed below. FY26 FY25 $000 $000 Fair value: Derivative financial assets 8,597 169 Derivative financial liabilities (899) (21,256)
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 98 23. Financial risk management (continuation) The following table details the notional principal amounts outstanding at the end of the reporting period: FY26 FY25 $000 $000 Notional principal value Less than 1 year 69,075 116,446 1 to 2 years 492,614 112,968 2 to 5 years 1,334,767 2,355,772 1,896,456 2,585,186 The interest rate swaps settle and reset on a monthly basis. The floating rate on the interest rate swaps is the Bank Bill Swap Rate (BBSW) local interbank rate. The Group will settle the difference between the fixed and floating interest rate on a net basis. 23.4.4 Corporate interest – Sensitivity analysis The remainder of the Group’s loan portfolio and liabilities are held in corporate entities. The impact of a potential +/ - 10bps change in interest rates on interest revenue and borrowing costs on balances held by the Group for the year is set out in the table below: FY26 FY25 10bps +/- $000 $000 Impact on corporate interest revenue Interest rate + 10bps 723 776 Interest rate - 10bps (723) (776) Impact on corporate funding costs Interest rate + 10bps (25) (14) Interest rate - 10bps 25 14 23.4.5 Equity price risk Equity investments shares are held for strategic rather than trading purposes. The Group does not actively trade these investments. 23.4.6 Equity investment valuation risk – sensitivity analysis If fair value assessments on unlisted shares had been 10% higher / lower: • Net profit for the year ended 30 June 2026 would increase/decrease by $0.5 million as a result of the changes in fair value of the investments in unlisted shares (FY25: $0.5 million).
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 99 23. Financial risk management (continuation) 23.5 Foreign currency risk 23.5.1 Accounting translation As at reporting date the Group held cash assets and loans denominated in New Zealand dollars (NZD). Fluctuations in the NZD are not expected to have a material impact on the consolidated statement of profit or loss or the consolidated statement of comprehensive income and equity of the Group. 23.5.2 Market risk – foreign exchange on monetary items The Group obtains funding denominated in foreign currencies, consequently, exposure to exchange rate fluctuations arise. These currencies include USD , GBP and JPY. The Group manages foreign currency risk through the use of currency derivatives. The carrying amounts of the Group’s foreign currency denominated assets and liabilities outstanding at the end of the reporting period are set out in Note 23.3.1. The following table details the notional principal amounts outstanding at the end of the reporting period: FY26 FY25 $000 $000 Notional principal value Less than 1 year 150,000 - 1 to 2 years - 150,000 2 to 5 years 154,914 569,174 304,914 719,174 23.5.3 Foreign currency risk – Sensitivity analysis In relation to the Group’s foreign currency swaps, if foreign exchange rates had been 10% higher/lower and all other variables were held constant the Groups cash flow hedge reserves would either increase by $0.8 million or decrease by $1.2 million. (FY25: +/- $0.7 million). 23.6 Credit risk management Credit risk is the risk that a counterparty will fail to complete its contractual obligations when they fall due. The consequential loss is the amount of the financial obligation not paid back, or the loss incurred in replicating a trading contract with a new counterparty. The Group’s primary credit risk exposures relate to its lending activities in its principally funded mortgage portfolio and asset finance portfolio. The Group’s primary lending activities are concentrated in the Australian and New Zealand market. The underlying credit risk in the Group’s lending activities is commensurate with a geographically-diverse residential mortgage portfolio and asset finance portfolio. The Board of Directors is responsible for determining the Group’s overall appetite for credit risk and monitoring the quality and performance of the mortgage portfolio. The credit risk management operational framework and policy is governed and managed by the Credit Committee. The Group does not have any direct counterparty credit exposure arising from its financing and securitisation activities. Counterparty risk is governed, and mitigated where required, by ratings agency criteria within the securitisation trusts including exposures to banks, lender’s mortgage insurance providers and derivative counterparties.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 100 23. Financial risk management (continuation) 23.6.1 Credit risk in lending The Group has established lending policies and procedures to manage the credit risk inherent in lending. The extent of credit risk in the Group’s lending activities is managed within its origination and funding programmes. The Group maintains separate credit policies for each programme and regularly reviews and amends policies in line with economic, operating and funding conditions. The Group’s approach to credit management utilises a credit risk framework to ensure that the following principl es are adhered to: • independence from brokers; • recognition of the different risks in the various Group businesses; • credit exposures are systematically controlled and monitored; • credit exposures are regularly reviewed in accordance with up-to-date credit procedures; and • credit exposures include such exposures arising from derivative transactions. The asset finance portfolio has seen considerable growth in the last couple of financial years. The credit risk profile of the asset finance portfolio diverges noticeably from the home loans segment. The underlying collateral for asset finance depreciates over time and, unlike real estate, is relocatable which raises risks of loss or theft. Over the past 18 months, the following additional risk management activities were introduced by the Group to address the increased risk: • set up of a dedicated collection and recoveries function for each product line; • alignment of write off policy with industry best practices, by recognising write-offs at 120 days in arrears instead of the previous 180 days; and • introduction of an enhanced hardship program. Each of the Group’s business units are responsible for managing credit risks that arise in their own areas with oversight from a Group Credit Committee. The Group Credit Committee monitors the policies of all divisions to ensure that the risk of the Group is monitored appropriately and within risk appetite. The Group Credit Committee will continually monitor the credit policy taking into account internal and external factors, to ensure credit policy aligns with the risk appetite of the Group. 23.6.2 Exposure to credit risk Loans and advances consist of a large number of customers, spread across diverse demographic and geographical areas. Ongoing credit evaluation is performed on the financial condition of loans and advances, accounts receivable and other financial assets. There is no significant concentration of risk to any single counterparty. The credit risk on derivative financial instruments is limited because the counterparties are banks with high credit -ratings assigned by international credit-rating agencies.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 101 23. Financial risk management (continuation) 23.6.3 Maximum exposure to credit risk The carrying amount of the Group’s financial assets represents the maximum credit exposure. The Group’s exposure to credit risk at the reporting date was: FY26 FY25 Note $'000 $'000 Cash and cash equivalents 4 722,507 775,737 Trade and other receivables (excluding prepayments) 5 251 287 Contract assets 1 4,675 7,638 Other financial assets 7 4,800 4,800 Derivative financial assets 23 8,597 25,569 740,830 814,031 Loans and advances at amortised cost (subject to credit risk) 6 16,510,234 15,902,720 17,251,064 16,716,751 As at 30 June 2026, 100% of the Group’s cash and cash equivalents are held with banks or financial institutions with a credit rating of AA- or better (FY25: 100%). 23.6.3.1 Loan borrowers The Group manages credit risk by obtaining security over the loan asset and mortgage insurance for loans, where required. In monitoring the credit risk, loans are segregated according to their credit characteristics using credit risk classification systems. This includes the use of the Loan to Value Ratio (LVR) to assess its exposure to credit risk from loans originated through the securitisation programme. 23.6.4 Financial guarantees The Group is exposed to credit risk in relation to financial guarantees given to banks. The Group's maximum exposure in this respect is the maximum amount the Group could have to pay if the guarantee s are called on. Refer to Note 25.2 for the guarantees in respect of the leases.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 102 23. Financial risk management (continuation) 23.6.5 Credit risk management The following table summarises the loans and advances and the expected credit loss by stage and risk category: Stage 1 - Collective Stage 2 - Collective Stage 3 - Collective Stage 3 - Specific Total Maximum exposure to credit risk $’000 $’000 $’000 $’000 $’000 Balance as at 30 June 2026 Loans and advances - Mortgage lending 13,785,781 693,217 211,481 23,813 14,714,291 - Asset finance lending 1,682,750 100,611 12,277 19,203 1,814,843 - Commercial lending 199 - - - 199 Total 15,468,730 793,828 223,758 43,016 16,529,333 Balance as at 30 June 2025 Loans and advances - Mortgage lending 12,464,017 596,386 306,308 12,074 13,378,785 - Asset finance lending 2,444,735 81,188 17,191 2,276 2,545,390 - Commercial lending 222 - - - 222 Total 14,908,974 677,574 323,499 14,350 15,924,397 Expected credit loss Balance as at 30 June 2026 Loans and advances - Mortgage lending 8,620 13,170 9,934 6,380 38,104 - Asset finance lending 9,597 7,160 6,312 7,608 30,677 - Commercial lending - - - - - Total 18,217 20,330 16,246 13,988 68,781 Balance as at 30 June 2025 Loans and advances - Mortgage lending 6,536 10,939 14,685 3,147 35,307 - Asset finance lending 8,993 5,631 6,108 485 21,217 - Commercial lending - - - - - Total 15,529 16,570 20,793 3,632 56,524 The majority of the Group’s exposure to loans and advances is limited, as they are legally owned by securitisation trusts with limited recourse to the Group. Losses on loans in these entities are therefore limited to the Group’s investment in notes in these trusts and the residual income rights of trusts. The trust structures are designed such that losses are covered by the income generated from the assets within the trust before the investment notes are impaired. Collateral held The value of the collateral held as security for loans in stage 2 and stage 3 collective at 30 June 2026 is $1,449.6 million (30 June 2025: $1,599.2 million). The value of the collateral held as security for loans in stage 3 specific loans at 30 June 2026 is $66.8 million (30 June 2025: $14.9 million). Loans are secured by the Group by having the property titles registered as a financial interest that provide the Group first priority over any proceeds becoming available from the sale of the property. For Prime insured loans, LMI policies exist to cover 100% of the principal amount at default plus interest. At 30 June 2026, 99.8% (FY25: 99%) of the Australian mortgage lending portfolio is either mortgage insured or originated at an LVR of below 80%.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 103 23. Financial risk management (continuation) 23.6.6 Credit risk concentrations An analysis of the Group’s credit risk concentrations on loans and advances is provided in the following table. The amounts in the table represent gross carrying amounts: FY26 FY25 Loans and advances at amortised cost $'000 %1 $'000 %1 Concentration by region • New South Wales 5,677,103 34% 5,612,547 35% • Victoria 3,933,753 24% 3,893,943 24% • Queensland 3,378,732 20% 3,151,723 20% • Western Australia 1,330,552 8% 1,190,790 8% • South Australia 1,647,117 10% 1,353,539 9% • Tasmania 144,006 1% 115,164 1% • Northern Territory 172,353 1% 216,834 1% • New Zealand 245,715 1% 389,857 2% Total 16,529,333 100% 15,924,397 100% FY26 FY25 Expected credit loss $'000 %1 $'000 %1 Concentration by region • New South Wales 22,290 33% 18,101 32% • Victoria 21,156 31% 15,374 27% • Queensland 11,248 17% 10,606 19% • Western Australia 5,121 7% 4,025 7% • South Australia 4,202 6% 3,132 6% • Tasmania 556 1% 494 1% • Northern Territory 756 1% 793 1% • New Zealand 3,452 5% 3,999 7% Total 68,781 100% 56,524 100% 1. Rounded to nearest 100bps.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 104 23. Financial risk management (continuation) 23.6.7 Analysis of loans and advances by past due status Under the Group’s monitoring procedures, a significant increase in credit risk is identified at the latest when exposure becomes 30 days past due. The table below provides an analysis of the gross carrying amount of loans and advances by past due status that are over 30 days past due. FY26 FY25 Loans and advances at amortised cost1 $'000 $'000 • 0 days and less than 30 days 16,120,508 15,568,969 • 30 days and less than 60 days 175,343 135,867 • 60 days and less than 90 days 64,420 64,062 • 90 days and less than 180 days 78,253 55,562 • 180 days and less than 270 days 28,683 25,460 • 270 days and less than 365 days 20,019 35,064 • 365 days and over 42,107 39,413 Total 16,529,333 15,924,397 1 Includes loans that are collectively and specifically provided for FY26 FY25 Expected credit loss $'000 $'000 • 0 days and less than 30 days 36,955 34,653 • 30 days and less than 60 days 6,793 5,542 • 60 days and less than 90 days 5,930 5,527 • 90 days and less than 180 days 8,330 5,489 • 180 days and less than 270 days 3,848 1,608 • 270 days and less than 365 days 2,278 1,543 • 365 days and over 4,647 2,162 Total 68,781 56,524
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 105 23. Financial risk management (continuation) 23.6.8 Movement in credit exposures Stage 1 - Collective Stage 2 - Collective Stage 3 - Collective Stage 3 - Specific Total $’000 $’000 $’000 $’000 $’000 Provision for impairment losses Balance as at 30 June 2025 15,529 16,570 20,793 3,632 56,524 Net transfer between stages 12,505 (4,695) (7,909) 99 - Stage 1 - Collective - (6,025) (5,856) (624) (12,505) Stage 2 - Collective 6,025 - (1,566) 236 4,696 Stage 3 - Collective 5,856 1,566 - 487 7,909 Stage 3 - Impaired 624 (236) (487) - (100) Net re-measurement on transfers between stages (14,801) 7,756 3,803 3,833 591 Impact of transfers between stages and re-measurement 13,233 19,631 16,687 7,564 57,115 Net financial assets originated 8,284 4,647 906 2,429 16,266 Write-offs (5,175) (5,410) (2,895) (3,341) (16,821) Discharges/Other 1,875 1,462 1,548 7,336 12,221 Balance as at 30 June 2026 18,217 20,330 16,246 13,988 68,781 Credit Exposure Balance as at 1 July 2025 14,908,974 677,574 323,499 14,350 15,924,397 Net transfers between stages and financial assets originated 564,931 121,664 (96,845) 32,007 621,757 Write-offs (5,175) (5,410) (2,895) (3,341) (16,821) Balance as at 30 June 2026 15,468,730 793,828 223,759 43,016 16,529,333
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 106 23. Financial risk management (continuation) Stage 1 - Collective Stage 2 - Collective Stage 3 - Collective Stage 3 - Specific Total $’000 $’000 $’000 $’000 $’000 Provision for impairment losses Balance as at 30 June 2024 14,768 23,527 7,815 3,899 50,009 Net transfer between stages 11,648 (15,477) 3,730 99 - Stage 1 - Collective - (9,606) (1,841) (201) (11,648) Stage 2 - Collective 9,606 - 5,577 294 15,477 Stage 3 - Collective 1,841 (5,577) - 6 (3,730) Stage 3 - Impaired 201 (294) (6) - (99) Net re-measurement on transfers between stages (17,749) 6,740 6,050 1,511 (3,448) Impact of transfers between stages and re-measurement 8,667 14,790 17,595 5,509 46,561 Net financial assets originated 6,810 2,594 5,968 36 15,408 Write-offs - - - (20,990) (20,990) Discharges/Other 52 (814) (2,770) 19,077 15,545 Balance as at 30 June 2025 15,529 16,570 20,793 3,632 56,524 Credit exposure Balance as at 1 July 2024 13,259,234 644,694 107,701 10,608 14,022,237 Acquisition of loan portfolio 1,345,251 66,054 6,900 - 1,418,205 Net transfers between stages and financial assets originated 304,489 (33,174) 208,898 24,732 504,945 Write-offs - - - (20,990) (20,990) Balance as at 30 June 2025 14,908,974 677,574 323,499 14,350 15,924,397
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 107 23. Financial risk management (continuation) 23.7 Liquidity risk management Ultimate responsibility for liquidity risk management rests with the Board of Directors, which has established an appropriate liquidity risk management framework for the management of the Group's short, medium and long-term funding and liquidity management requirements. The Group’s funding platform currently comprises a mix of: • warehouse facilities; • securitisation trusts; • secured corporate debt facilities; and • cash. The majority of the Group’s liabilities represent bonds issued by SPVs through warehouse facilities and securitisation trusts. Under such arrangements, bondholder recourse is limited to the assets of the relevant SPVs to which the liability relates and the repayment profile of the bonds is matched to the repayments collected from the loan as sets. Given the limited recourse nature of these borrowings, $16.7 billion at 30 June 2026 (FY25: $16.1 billion), they have not all been included in the table below. The Group manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities. Note 23.7.2 below sets out details of additional undrawn facilities that the Group has at its disposal to further reduce liquidity risk. 23.7.1 Liquidity risk tables The following table shows the Group's remaining expected maturity for its non -derivative financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the expected cashflows from underlying assets and hence will not necessarily reconcile with the amounts disclosed in the statement of financial position. The tables include both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate curves at the end of the reporting period. The contractual maturity is based on the earliest date on which the Group may be required to pay. <6 months or on demand 6-12 months 1-3 years 3-5 years >5 years Total cash flows Carrying amount Financial liabilities $’000 $’000 $’000 $’000 $’000 $’000 $’000 FY26 Trade and other payables 26,755 - - - - 26,755 26,755 Interest-bearing liabilities • Issuance facilities - 62,978 81,667 - - 144,645 144,645 • Corporate debt facilities 25,000 - - - - 25,000 25,000 Present value of future trail commissions payable 13,106 11,588 33,782 20,877 42,466 121,819 87,531 Lease liabilities 1,056 1,043 4,457 4,481 3,044 14,081 10,317 Total non-derivatives 65,917 75,609 119,906 25,358 45,510 332,300 294,248 Derivatives – CCS (Inflow) (176,275) (38,521) (61,255) - - (276,051) 27,178 Derivatives- CCS (Outflow) 203,062 39,288 62,005 - - 304,355 Derivatives - IRS (Net) 446 328 217 - - 991 899 Total derivatives 27,233 1,095 967 - - 29,295 28,077 93,150 76,704 120,873 25,358 45,510 361,595 322,325
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS RISK FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 108 23. Financial risk management (continuation) <6 months or on demand 6-12 months 1-3 years 3-5 years >5 years Total cash flows Carrying amount Financial liabilities $’000 $’000 $’000 $’000 $’000 $’000 $’000 FY25 Trade and other payables 26,648 - - - - 26,648 26,648 Interest-bearing liabilities • Issuance facilities - 35,190 85,241 45,886 - 166,317 166,317 • Corporate debt facilities 14,000 - - - - 14,000 14,000 Present value of future trail commissions payable 13,938 10,621 32,603 21,864 46,800 125,826 89,810 Lease liabilities 1,214 1,203 5,034 5,501 6,020 18,972 13,266 Total non-derivatives 55,800 47,014 122,878 73,251 52,820 351,763 310,041 Derivatives – CCS (Inflow) (171,878) (894) (153,749) - - (326,521) 33,530 Derivatives- CCS (Outflow) 208,579 3,559 151,751 - - 363,889 Derivatives - IRS (Net) 3,561 6,804 11,567 286 - 22,218 21,256 Total derivatives 40,262 9,469 9,569 286 - 59,586 54,786 96,062 56,483 132,447 73,537 52,820 411,349 364,827 23.7.2 Financing facilities FY26 FY25 $'000 $'000 Secured corporate debt facility which may be extended by mutual agreement • Amount used 25,000 - • Amount unused 5,000 30,000 30,000 30,000
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS UNRECOGNISED ITEMS FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 109 24. Subsidiaries Details of the Group’s subsidiaries at the end of the reporting period are as follows: Proportion of ownership interest held and voting power held by the Group Principal activity Place of incorporation and operation FY26 FY25 Name of subsidiary % % Controlled companies Access Network Management Pty Ltd Mortgage manager Australia 100 100 Auspak Financial Services Pty Ltd Mortgage broker Australia 100 100 Clarence Street Finance Pty Ltd Holder of commission agreements Australia 100 100 Clarence Street Funding No.1 Pty Ltd Special purpose vehicle Australia 99.9 99.9 Clarence Street Funding No.2 Pty Ltd Participation unit holder Australia 100 100 Clarence Street Funding No.3 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.4 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.6 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.7 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.8 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.9 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.10 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.11 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.12 Pty Ltd Special purpose vehicle Australia 100 100 Clarence Street Funding No.13 Pty Ltd Special purpose vehicle Australia 100 100 FAI First Mortgage Pty Ltd Trust manager and servicer Australia 100 100 Homeloans.com.au Pty Ltd Mortgage lender Australia 100 100 Housing Financial Services Pty Ltd Mortgage originator Australia 100 100 Independent Mortgage Corporation Pty Ltd Mortgage broker Australia 100 100 Resimac Asset Finance Pty Ltd Asset finance originator and manager Australia 100 100 RAF Structured Finance Pty Ltd Consumer and commercial lending Australia 100 100 SF Mortgage Pty Ltd Lender of record Australia 100 100 Parnell Road Funding No.1 Limited Special purpose vehicle New Zealand 100 100 Parnell Road Funding No.2 Limited Special purpose vehicle New Zealand 100 100 Prime Insurance Group Limited LMI captive insurer Bermuda 100 100 RESIMAC Capital Markets Pty Ltd Trust manager Australia 100 100 RESIMAC Financial Services Limited NZ Holding company New Zealand 100 100 RESIMAC Financial Securities Limited NZ Trust manager and servicer New Zealand 100 100 RESIMAC Home Loans Limited NZ Lender of record and trustee New Zealand 100 100 RESIMAC Limited Non-bank lender Australia 100 100 RESIMAC NZ Home Loans Limited NZ Holding company New Zealand 100 100 RESIMAC Premier Warehouse No.1 Pty Ltd1 Unit Holder Australia - - RMC Fiduciary Services Pty Ltd1 Mortgage trustee Australia - - RHG Mortgage Corporation Pty Ltd1 Lender of record Australia - - RHG Mortgage Securities Pty Ltd1 Mortgage trustee Australia - - 1. Ownership interest is 0% however the Group have Board control.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS UNRECOGNISED ITEMS FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 110 24. Subsidiaries (continuation) Proportion of ownership interest held and voting power held by the Group Principal activity Place of incorporation and operation FY26 FY25 Name of subsidiary % % Controlled companies RHG Home Loans Pty Ltd Mortgage Originator Australia 100 100 The Servicing Company Pty Ltd Trust servicer Australia 100 100 RESIMAC EST PTY LTD Initial Trustee Australia 100 100 23 Degrees Capital Partners Pty Ltd2 Asset finance wholesaler Australia - 100 Clarence Street Funding No.5 Pty Ltd Dormant Australia 99.9 99.9 Fiduciary Services Pty Ltd Dormant Australia 100 100 National Mutual Pty Ltd Dormant Australia 100 100 RESIMAC Financial Securitisation Limited Dormant New Zealand 100 100 RESIMAC Financial Services Pty Ltd Dormant Australia 100 100 RESIMAC Leasing Pty Ltd Dormant Australia 100 100 Homeloans Pty Ltd Dormant Australia 100 100 Controlled Trusts Avoca Master Trust Issuer of RMBS Australia 100 100 RESIMAC Bastille Master Trust3 Issuer of RMBS Australia 100 100 RESIMAC Triomphe Master Trust3 Issuer of RMBS Australia 100 100 RESIMAC Versailles Master Trust Issuer of RMBS New Zealand 100 100 RESIMAC Victoire Trust Warehouse mortgages New Zealand 100 100 RMC Enhanced Income Fund4 Managed Investment Trust Australia 90.7 99.3 RAF Trust Consumer and commercial lending Australia 100 100 Thorn ABS Warehouse Series No.15 Issuer of ABS Australia - 100 Resimac Group Limited Employee Share Trust6 Employee share trust Australia - - 2. Deregistered on 24 December 2025. 3. This does not represent holding in capital units, percentage ownership represents control of these Trusts. 4. Ownership interest decreased to 90.7% on 1 April 2026. 5. Deregistered on 31 January 2026. 6. Ownership interest is 0% however a 100% owned subsidiary (RESIMAC EST PTY LTD) acts as trustee. Special purpose entities – securitised trusts and funding warehouses The Group has established special purpose entities to support the specific funding needs of the Group’s securitisation programme with the aim to: • conduct securitisation activities funded by short term warehouse facilities provided by reputable lenders; and • hold securitised assets and issue bonds. The special purpose entities meet the criteria of being controlled entities under AASB 10 – Consolidated Financial Statements and therefore are included in these consolidated financial statements.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS UNRECOGNISED ITEMS FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 111 25. Commitments and contingencies 25.1 Commitments The Directors were not aware of any commitments (including capital commitments) as at the end of the financial year or arising since balance date. 25.2 Contingencies Lease guarantees The Group has provided guarantees in respect of the leases over its premises of $2,571,376 (FY25: $3,456,682). Other In May 2025, ASIC commenced civil penalty proceedings against the Group alleging contraventions in relation to hardship notices under the National Consumer Credit Protection Act (NCCP Act). The proceedings involve allegations that the Group contravened its conduct obligations under section 47 of the NCCP Act principally in relation to its systems and procedures concerning customers in assessing hardship notices. As this matter is now before the court, no further disclosures have been made or included in this report. Any potential liability resulting from this engagement, or any other matter, is only provided for when it is probable that an outflow will occur, and a reliable estimate of the outflow can be made. As these criteria are not met, no specific contingent liability amounts have been disclosed in relation to the Group’s engagement with ASIC. The Directors are not aware of any other contingent liabilities as at the end of the financial year or arising since balance date. 26. Subsequent events 26.1 Final dividend declared The Board of Resimac Group Ltd declared a fully-franked final dividend of $0.06 per share. The record date will be 4 September 2026. The payment date will be 18 September 2026. The dividend has not been provided for in this financial report. Other than the above events, there have been no circumstances arising since 30 June 2026 that have significantly affected or may significantly affect: (a) The operations, (b) The results of those operations, or (c) The state of affairs of the Group in future financial years.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS UNRECOGNISED ITEMS FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 112 27. Auditor’s remuneration FY26 FY25 $ $ Deloitte Touche Tohmatsu Audit or review of financial reports - Group 653,782 588,232 - Subsidiaries 806,622 784,864 1,460,404 1,373,096 Statutory assurance services required by legislation to be provided by the auditor 106,896 103,281 Review of sustainability report prepared in accordance with AASB S2 85,000 - Other assurance and agreed-upon procedures under other legislation or contractual arrangements 97,125 62,265 Other services - Technology and other consulting services 17,500 94,300 17,500 94,300 Total remuneration of Deloitte Touche Tohmatsu 1,766,925 1,632,942 Non Deloitte Touche Tohmatsu audit firms Other services - Tax compliance services 140,940 138,122 - Tax consulting services 254,859 187,899 - Other advisory services 556,616 1,084,102 Total remuneration of Non Deloitte Touche Tohmatsu audit firms 952,415 1,410,123 27.1 Non-audit services The auditor of the Group is Deloitte Touche Tohmatsu (Deloitte). It is the Group’s policy to employ Deloitte on assignments additional to its statutory audit duties, in compliance with the Group’s independence policies, where Deloitte’s expertise and experience with the Group are important. The total non-audit services fees of $114,625 represents 6.5% of the total fees paid or payable to Deloitte and network firms for the year ended 30 June 2026 (FY25: $156,565 or 9.6%).
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS UNRECOGNISED ITEMS FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 113 28. Related party transactions Balances and transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this note. Details of transactions between the Group and other related parties are disclosed below. 28.1 Income received and expenses paid to related parties During the year, the Group entered into the following transactions with related parties that are not members of the Group: Income received Expenses paid FY26 FY25 FY26 FY25 Director’s related entity $’000 $’000 $’000 $’000 Interest income on related party loans1 606 1,340 - - Interest income on loans and advances2 954 1,159 - - Insurance premium expense3 - - 1,250 2,000 1,560 2,499 1,250 2,000 1. Interest received on related party loans to Somers Limited and UIL Limited. These loans were entered into at commercial arm’s length terms and have been fully repaid as at 30 June 2026 including any interest that was owing to the Group. 2. Interest received/receivable on loans and advances provided to a Director. 3. Professional Indemnity and Directors & Officers Liability insurance premiums paid to General Provincial Insurance Ltd. This i nsurance policy was entered into at commercial arm’s length terms. Sales to related parties occur at arm’s length on commercial terms in the ordinary course of business in accordance with the terms and conditions outlined in the relevant commercial agreements with each party. 28.2 Amount owed by/to related parties The following balances were outstanding at the end of the reporting period: Amounts owed by related parties Amounts owed to related parties FY26 FY25 FY26 FY25 $’000 $’000 $’000 $’000 Other related parties of Resimac Group Ltd 4 27,756 18,207 - - 27,756 18,207 - - 4. Includes residential mortgages and asset finance loans to related parties lent in ordinary course of business at arm’s length. Amounts owed by related parties are secured and will be settled in cash. No guarantees have been given or received. No expense has been recognised in the current or prior years for bad or doubtful debts in respect of the amount owed by related parties. 28.3 Other transactions with related parties In FY26, Director-related entities, Somers Limited and UIL Limited obtained short-term loans amounting to $25,000,000 and $15,000,000 respectively on market terms from the Group. These loans were fully repaid during FY26 and there were no balances outstanding at 30 June 2026.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OTHER FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 114 28. Related party transactions (continuation) 28.4 Compensation of KMP The remuneration disclosures of Directors and other members of KMP during the year are provided in sections 1 to 9 of the remuneration report on pages 16 to 33 of this financial report designated as audited and forming part of the Directors’ report. The remuneration disclosures are for Resimac KMP only as presented in the Remuneration report. FY26 FY25 KMP compensation $ $ Short-term benefits 2,056,548 3,103,019 Post-employment benefits 91,860 147,434 Long-term benefits 23,713 27,265 Termination benefits - 1,250,825 Share-based payments 112,780 102,459 2,284,901 4,631,002 The remuneration of Directors and KMP is determined by the Remuneration and Nomination Committee having regard to the performance of individuals and market trends.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OTHER FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 115 29. Parent disclosures The parent company of the Group, as at and throughout the financial year ended 30 June 2026, was Resimac Group Ltd. Presented below is supplementary information about the parent entity. FY26 FY25 $’000 $’000 STATEMENT OF FINANCIAL POSITION ASSETS Current 25,680 9,133 Non-current 307,282 402,404 332,962 411,537 LIABILITIES Current 3,745 6,520 Non-current 27,212 31,515 30,957 38,035 NET ASSETS 302,005 373,502 EQUITY Issued capital 185,908 185,908 Reserves 4,112 3,896 Retained earnings 111,985 183,698 302,005 373,502 Attributable to members of the parent: Loss/(Profit) after tax (6,133) 91,623 Total comprehensive income for the period (6,133) 91,623 29.1 Guarantees, contingent liabilities and contingent assets At 30 June 2026, there are no financial guarantees, contingent assets or contingent liabilities with respect to the parent company. (FY25: Nil). 29.2 Accounting policies The accounting policies of the parent entity, which have been applied in determining the financial information shown above, are the same as those applied in the consolidated financial statements.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OTHER FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 116 30. Share-based payments 30.1 Employee share option plan of the Company The Company has a share option scheme (pursuant to the Resimac Group Ltd Employee Share Option and Rights Plan) for senior employees of the Company. In accordance with the terms of the Plan, senior employees may be granted options to purchase or rights to ordinary shares. Each employee share option converts into one ordinary share of the Company on exercise. No amounts are paid or payable by the recipient on receipt of the option. The options carry neither rights to dividends nor voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry. FY20 LTI Share Options – Ex-CEO and General Managers (GMs) Under the Group’s LTI share options and rights plan, the Ex-CEO and members of the senior management team received options over ordinary shares and a potential cash component of $2.4 million. The options were granted on 15 August 2019 and the vesting date for all options is 31 August 2022, subject to the Group achieving Net Profit After Tax (NPAT) growth hurdles, digital transformation hurdles, compliance hurdles and remaining employed with the Group until the vesting date. 385,000 vested options that remained outstanding to be exercised at 30 June 2025 expired on 31 August 2025. There were no options outstanding from this plan at 30 June 2026. FY25 LTI Share Grants – KMPs and Senior Employees Under the Group’s LTI share options and rights plan, a number of KMPs and senior employees received a total of 2,180,000 rights over ordinary shares. The rights were granted on 1 July 2024 and the vesting date for all rights is 31 August 2027, subject to the Group achieving a Share Price performance condition, technology strategy/innovation hurdles, accelerated digitisation hurdles, data security improvement hurdles, AUM/new product growth hurdles and remaining employed with the Group until the vesting date. 1,830,000 unvested rights remained outstanding at 1 July 2025. 570,000 rights were forfeited during the year and 1,260,000 unvested rights remained outstanding at 30 June 2026. FY26 LTI Share Grants - CEO Under the Group’s LTI share options and rights plan. The CEO received a total of 700,000 rights over ordinary shares. The rights were granted on 30 September 2025 and the vesting date for all the rights is 30 September 2028 subject to the CEO and the Group achieving a Share Price performance condition, financial metrics, customer metrics, internal process metrics, learning and growth metrics and remaining employed with the Group until the vesting date. Employee Share Plan (ESP) The Group commenced the Resimac Group Employee Share Scheme (ESS) in March 2021 whereby eligible employees are offered up to $1,000 worth of fully paid Resimac ordinary shares for no cash consideration. Shares allocated under the ESS cannot be sold until the earlier of three years after allocation or the time when the participant is no longer employed by the Group. The ESS offer for FY26 was made on 17 February 2026. A total of 210 (FY25: 190) staff participated in this offer. The participants were each allocated 1,026 (FY25: 1,136) fully allocated shares based on the offer amount of $1,000 and the 5 day volume weighted average price (VWAP) of $0.9743 (FY25: $0.8799), resulting in a total of 217,512 (FY25: 215,840) shares being allocated. The shares were allocated to staff for no cash consideration. For the financial year ended 30 June 2026, share-based payment expense relating to the ESS totalled $216,117 (FY25: $186,702).
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OTHER FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 117 30. Share-based payments (continuation) The table below provides the details of options and rights issued: Acquired by Number of options / grants Tranche Grant date Fair value at grant date ($) Exercise price ($) Vesting date Expiry date Options / grants forfeited Options / grants exercised Number of options / grants held at 30 June 2026 Number of options / grants vested at 30 June 2026 Number of options / grants unvested at 30 June 2026 Employee Share Plan 217,512 NA 17 Feb 2026 0.97 NA 17 Feb 2026 17 Feb 2026 - (217,512) - - - FY25 LTI - KMPs and Senior Employees 2,180,000 NA 1 July 2024 0.24 NA 31 Aug 2027 NA (920,000) - 1,260,000 - 1,260,000 FY26 LTI- CEO 700,000 NA 30 Sept 2025 0.46 NA 30 Sept 2028 30 Sept 2029 - - 700,000 - 700,000 3,097,512 (920,000) (217,512) 1,960,000 - 1,960,000
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OTHER FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 118 30. Share-based payments (continuation) 30.2 Fair value of options and rights The primary valuation approach adopted for the valuation of granted options and rights are the Black -Scholes and Monte Carlo Simulation methods, which entails the determination of the value of the options and rights using comparable market equivalent information. In determining the fair value of each of the share options and rights, a number of statistical and probability based calculations have been considered. The following table lists the inputs to the model used: FY25 LTI Share Grants – KMPs and Senior Employees Grant date Grant date share price ($) Exercise price ($) Term (years) Annual volatility Risk-free interest rate Dividend yield Attrition Issued options 1 July 2024 0.86 - 3 37.5% Zero-Coupon AGS bond Curve 8% 5% 2,180,000 FY26 LTI Share Grants – CEO Grant date Grant date share price ($) Exercise price ($) Term (years) Annual volatility Risk-free interest rate Dividend yield Attrition Issued grants 30 Sept 2025 1.15 - 3 37.5% Zero-Coupon AGS bond Curve 8% 0% 700,000
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OTHER FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 119 30. Share-based payments (continuation) 30.3 Movements in share options and rights during the period The following reconciles the share options outstanding at the beginning and the end of the period: Number of FY20 LTI options Number of FY25 LTI grants Number of FY26 LTI grants Number of options and grants total Weighted average fair value$ - FY20 LTI Weighted average fair value$ - FY25 LTI Weighted average fair value$ - FY26 LTI Unvested options and grants at 1 July 2025 - 1,830,000 - 1,830,000 0.20 0.24 - Vested options at 1 July 2025 385,000 - - 385,000 0.20 - - Options and grants held at 1 July 2025 385,000 1,830,000 - 2,215,000 0.20 0.24 - Granted during the year 700,000 700,000 - - 0.46 Forfeited during the year - (570,000) - (570,000) - - - Expired during the year (385,000) - - (385,000) - - - Unvested grants at 30 Jun 2026 - 1,260,000 700,000 1,960,000 - 0.24 0.46 Vested grants at 30 Jun 2026 - - - - - - - Grants held at 30 Jun 2026 - 1,260,000 700,000 1,960,000 - 0.24 0.46 30.4 Share options and rights exercised during the period The Trustee for the Resimac Group Limited Employee Share Trust allocated 217,512 shares to employees in FY26 under the ESP. These allocated shares are held in the Trust on behalf of the employees.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OTHER FOR THE YEAR ENDED 30 JUNE 2026 RESIMAC GROUP LTD FINANCIAL REPORT 2026 120 31. Other accounting policies 31.1 Application of new and revised accounting standards The Group has applied the required amendments to Standards and Interpretations that are relevant to its operations and mandatorily effective for the first time for the financial year commencing 1 July 2025. These amendments did not have any material impact on the disclosures or on the amounts recognised in the consolidated financial statements. 31.2 New and revised accounting standards and interpretations on issue but not yet effective Certain new accounting standards and interpretations have been published that are not mandatory for 30 June 2026 reporting periods and have not been adopted early by the Group. Standard/amendment Effective for annual reporting periods beginning on or after AASB 2024-2 Amendments to Australian Accounting Standards – Classification and Measurement of Financial Instruments 1 January 2026 AASB 18 Presentation and Disclosure in Financial Statements 1 January 2027 AASB 2014- 10 Amendments to Australian Accounting Standards- Sale or Contribution of Assets between an investor and its Associate or Joint Venture (as amended) 1 January 2028 The Group is currently undertaking its assessment of the impacts of the standards and interpretations listed above. 31.3 Goods and services tax (GST) Revenues, expenses and assets are recognised net of the amount of GST except: • where the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case the GST is recognised as part of the costs of acquisition of the asset or as part of the expense item as applicable; and • receivables and payables which are stated with the amount of GST included. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the statement of financial position. Cash flows are included in the statement of cash flows on a gross basis and the GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority is classified as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the taxation authority.
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TAX TRANSPARENCY DISCLOSURE CONSOLIDATED ENTITY DISCLOSURE STATEMENT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 121 Basis of preparation The consolidated entity disclosure statement has been prepared in accordance with subsection 295(3A)(a) of the Corporations Act 2001. The entities listed in the statement are Resimac Group Ltd and all the entities it controls in accordance with AASB 10 Consolidated Financial Statements. The percentage of share capital disclosed for bodies corporate included in the statement represents the economic interest consolidated in the consolidated finan cial statements. In developing the disclosures in the statement, tax law in the country of incorporation has been used to support the determination of tax residency. Consolidated entity disclosure statement as of 30 June 2026 is as follows: Entity type Place of incorporatio n/formation % of Share capital held Tax residency Entity name Resimac Group Ltd Body Corporate Australia N/A Australia Access Network Management Pty Ltd Body Corporate Australia 100 Australia Auspak Financial Services Pty Ltd Body Corporate Australia 100 Australia Clarence Street Finance Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.1 Pty Ltd Body Corporate Australia 99.9 Australia Clarence Street Funding No.2 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.3 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.4 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.5 Pty Ltd Body Corporate Australia 99.9 Australia Clarence Street Funding No.6 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.7 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.8 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.9 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.10 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.11 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.12 Pty Ltd Body Corporate Australia 100 Australia Clarence Street Funding No.13 Pty Ltd Body Corporate Australia 100 Australia FAI First Mortgage Pty Ltd Body Corporate Australia 100 Australia Fiduciary Services Pty Ltd Body Corporate Australia 100 Australia Homeloans.com.au Pty Ltd Body Corporate Australia 100 Australia Housing Financial Services Pty Ltd Body Corporate Australia 100 Australia Homeloans Pty Ltd Body Corporate Australia 100 Australia Independent Mortgage Corporation Pty Ltd Body Corporate Australia 100 Australia National Mutual Pty Ltd Body Corporate Australia 100 Australia RAF Structured Finance Pty Ltd Body Corporate Australia 100 Australia Resimac Asset Finance Pty Ltd Body Corporate Australia 100 Australia RESIMAC EST PTY LTD1 Body Corporate Australia 100 Australia RESIMAC Capital Markets Pty Ltd Body Corporate Australia 100 Australia RESIMAC Financial Services Pty Ltd Body Corporate Australia 100 Australia RESIMAC Limited Body Corporate Australia 100 Australia RESIMAC Leasing Pty Ltd Body Corporate Australia 100 Australia RESIMAC Premier Warehouse No.1 Pty Ltd2 Body Corporate Australia - Australia 1. RESIMAC EST Pty Ltd is the trustee of Resimac Group Limited Employee Share Trust . 2. Ownership interest is 0% however the Group have Board control.
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TAX TRANSPARENCY DISCLOSURE CONSOLIDATED ENTITY DISCLOSURE STATEMENT RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 122 Entity type Place of incorporatio n/formation % of Share capital held Tax residency Entity name RHG Home Loan Pty Ltd Body Corporate Australia 100 Australia RHG Mortgage Corporation Pty Ltd3 Body Corporate Australia - Australia RHG Mortgage Securities Pty Ltd4 Body Corporate Australia - Australia RMC Fiduciary Services Pty Ltd5 Body Corporate Australia - Australia SF Mortgage Pty Ltd Body Corporate Australia 100 Australia The Servicing Company Pty Ltd Body Corporate Australia 100 Australia Prime Insurance Group Limited Body Corporate Bermuda 100 Bermuda Parnell Road Funding No.1 Limited Body Corporate New Zealand 100 New Zealand/Australia Parnell Road Funding No.2 Limited Body Corporate New Zealand 100 New Zealand/Australia RESIMAC Financial Services Limited Body Corporate New Zealand 100 New Zealand/Australia RESIMAC Financial Securities Limited Body Corporate New Zealand 100 New Zealand/Australia RESIMAC Financial Securitisation Limited Body Corporate New Zealand 100 New Zealand/Australia RESIMAC Home Loans Limited Body Corporate New Zealand 100 New Zealand/Australia RESIMAC NZ Home Loans Limited Body Corporate New Zealand 100 New Zealand/Australia Avoca Master Trust Trust Australia - Australia RAF Trust Trust Australia - Australia Resimac Bastille Master Trust Trust Australia - Australia Resimac Group Limited Employee Share Trust Trust Australia - Australia Resimac Triomphe Master Trust Trust Australia - Australia RMC Enhanced Income Fund Trust Australia 90.7 Australia Resimac Versailles Trust Trust New Zealand - New Zealand Resimac Victoire Warehouse No.1 Trust Trust New Zealand - New Zealand 3. Ownership interest is 0% however the Group have Board control. 4. RHG Mortgage Securities Pty Ltd is the trustee for the Avoca Funding Series Master Trust. Ownership interest is 0% however the Group have Board control. 5. RMC Fiduciary Services Pty Ltd is the trustee for RAF Trust. Ownership interest is 0% however the Group have Board control .
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SIGNED REPORTS DIRECTORS’ DECLARATION RESIMAC GROUP LTD AND ITS CONTROLLED ENTITIES RESIMAC GROUP LTD FINANCIAL REPORT 2026 123 The Directors declare that: (a) in the Directors’ opinion, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable; (b) in the Directors’ opinion, the attached financial statements are in compliance with Australian Accounting Standards as stated in the financial statements; (c) in the Directors’ opinion, the attached financial statements and notes thereto are in accordance with the Corporations Act 2001, including compliance with accounting standards and giving a true and fair view of the financial position and performance of the consolidated entity and the Company; (d) the Directors have been given the declarations required by s295.A of the Corporations Act 2001; and (e) in the Director’s opinion, the attached consolidated entity disclosure statement on page 121 is true and correct. Signed in accordance with a resolution of the Directors pursuant to s295(5) of the Corporations Act 2001. On behalf of the Directors Wayne Spanner Chair and Independent Non-Executive Director Sydney 25 August 2026
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Liability limited by a scheme approved under Professional Standards Legislation. Member of Deloitte Asia Pacific Limited and the Deloitte organisation. Deloitte Touche Tohmatsu ABN 74 490 121 060 Quay Quarter Tower Level 46, 50 Bridge St Sydney, NSW Australia, 2000 Tel: +61 2 9322 7000 Fax: +61 2 9322 7001 www.deloitte.com.au 25 August 2026 Board of Directors Resimac Group Limited Level 22, 201 Kent Street Sydney, NSW 2000 Dear Board Members, Auditor’s Independence Declaration to Resimac Group Limited In accordance with section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the Directors of Resimac Group Limited and its controlled entities. As lead audit partner for the audit of the Financial Report and review of the Sustainability Report of Resimac Group Limited for the year ended 30 June 2026, I declare that to the best of my knowledge and belief, there have been no contraventions of: • The auditor independence requirements of the Corporations Act 2001 in relation to the audit of the Financial Report and review of the Sustainability Report; and • Any applicable code of professional conduct in relation to the audit or review. Yours faithfully DELOITTE TOUCHE TOHMATSU Heather Baister Partner Chartered Accountants
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Liability limited by a scheme approved under Professional Standards Legislation. Member of Deloitte Asia Pacific Limited and the Deloitte organisation. Deloitte Touche Tohmatsu ABN 74 490 121 060 Quay Quarter Tower 50 Bridge Street Sydney, NSW, 2000 Australia Tel: +61 2 9322 7000 Fax: +61 29322 7001 www.deloitte.com.au Independent Auditor’s Report to the Members of Resimac Group Limited Report on the Audit of the Financial Report Opinion We have audited the financial report of Resimac Group Limited (the “Company”) and its subsidiaries (the “Group”) which comprise the consolidated statement of financial position as at 30 June 2026, the consolidated statement of profit or loss, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information and other explanatory information, the consolidated entity disclosure statement and the Directors’ declaration. In our opinion, the accompanying financial report of the Group are in accordance with the Corporations Act 2001, including: • Giving a true and fair view of the Group’s financial position as at 30 June 2026 and of their financial performance for the year then ended; and • Complying with Australian Accounting Standards and the Corporations Regulations 2001. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional & Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor’s report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial report for the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
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Key Audit Matter How the scope of our audit responded to the Key Audit Matter As at 30 June 202 6, the Group has recognised $68.8m of expected credit loss (“ECL”) on loans and advances held at amortised cost in accordance with AASB 9 Financial Instruments (“AASB 9”) as disclosed in Notes 6, 22 and 23. Loans and advances are subject to AASB 9’s impairment requirements including both the residential mortgages and asset finance portfolios. Significant management judgement was necessary in determining expected credit losses, including: • The application of the requirements of AASB 9 and the key assumptions as reflected in the Group’s ECL model; and • Assumptions used in the ECL model s including Probability of Default (“PD”), Loss Given Default (“LGD”), Exposure at Default (“EAD”) and forward -looking macroeconomic factors as disclosed in Notes 6, 22 and 23. Our audit procedures performed in conjunction with our credit risk specialists included, but were not limited to: • Testing the design and implementation of relevant controls over the ECL; • Update our understanding of the current ECL methodology for any changes in the current year, including specifically in response to the current macro - economic environment; • Assess the continuing appropriateness of key judgements and assumptions applied by Management which could give rise to material misstatement, including timing of recognition of loss events and significant increase in credit risk, timing of expected cash fl ows, assumptions used in the modelling including PD, LGD, collateral values and recoveries in particular of Asset Finance, together with the forward-looking macroeconomic assumptions and scenarios; • Perform retrospective review of the modelled collective provision (including underlying assumptions) against the historical write-offs and observed default rates; • Use data analytics and benchmarking to compare to other market participants to identify potential underprovided loan sub-portfolios based on selected risk characteristics; • Assessing Management overlays to the modelled collective provision by recalculating the coverage provided by the collective impairment provision to the loan book, taking into accounting recent history, performance and a range of economic factors that could impact the relevant portfolios; • Test the completeness and accuracy of disclosures and alignment to the requirements of AASB 9, as well as the extent of qualitative disclosures; and • Assessing the completeness of the credit loss provision. Other Information The Directors are responsible for the other information. The other information comprises the Directors’ Report and Sustainability Report, which we obtained prior to the date of this auditor’s report, and also includes the following information which will be included in the Group’s annual report (but does not include the financial report and our auditor’s report thereon): Chairman’s message, CEO’s message, Board of Directors, Managing your shareholding and Corporate Information, which is expected to be made available to us after this date. Our opinion on the financial report does not cover the other information and we do not and will not express any form of assurance conclusion thereon. The other information includes the Sustainability Report upon which we have performed a review of specified Sustainability Disclosures and issued a separate auditor’s review report.
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In connection with our audit of the financial report, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If based on the work we have performed on the other information that we obtained prior to the date of this auditor’s report , we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. When we read the Chairman’s message, CEO’s message, Board of Directors, Managing your shareholding and Corporate Information if we conclude that there is a material misstatement therein, we are required to communicate the matter to the directors and use our professional judgement to determine the appropriate action. Responsibilities of the Directors for the Financial Report The Directors are responsible: • For the preparation of the financial report in accordance with the Corporations Act 2001, including giving a true and fair view of the financial position and performance of the Group in accordance with Australian Accounting Standards; and • For such internal control as the directors determine is necessary to enable the preparation of the financial report in accordance with the Corporations Act 2001, including giving a true and fair view of the financial position and performance of the Group, and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the Directors are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or has no realistic alternative but to do so. Auditor’s Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. • Conclude on the appropriateness of the Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the
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audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation. • Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group as a basis for forming an opinion on the Group financial report. We are responsible for the direction, supervision and review of the audit work performed for the purposes of the group audit. We remain solely responsible for our audit opinion. We communicate with the Directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide the Directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied. From the matters communicated with the Directors, we determine those matters that were of most significance in the audit of the financial report of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. Report on the Remuneration Report Opinion on the Remuneration Report We have audited the Remuneration Report included in pages 16 to 33 of the Directors’ Report for the year ended 30 June 2026. In our opinion, the Remuneration Report of Resimac Group Limited, for the year ended 30 June 2026, complies with section 300A of the Corporations Act 2001. Responsibilities The Directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards. DELOITTE TOUCHE TOHMATSU Heather Baister Partner Chartered Accountants Sydney, 25 August 2026
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FINANCIAL REPORT. Level 22, 201 Kent Street, Sydney NSW 2000 Australia ABN 55 095 034 003 | Australian Credit Licence 247829 | ASX:RMC RESIMAC GROUP LTD FOR THE FULL-YEAR ENDED 30 JUNE 2026