Slides
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FY26 Overview Carolyn Barker AM, Group Chief Executive Officer
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Shine Justice Ltd | 2026 Annual General Meeting Who We Are Shine Justice Ltd (ASX: SHJ) is an ASX- listed Australian legal group and the parent of Shine Lawyers, one of the nation's largest plaintiff law firms. We help everyday people and communities access justice through a predominantly no-win-no- fee model across two operating segments — Personal Injury and Class Actions — with a growing New Zealand and international mass-torts capability. Our History This year marks 50 years of Shine — from a single regional practice to a national plaintiff law group, standing up for everyday Australians for five decades. Shine Justice ABOUT US 2 $220.4m FY26 adjusted revenue up 7.8% on FY25 adjusted $12b+ Damages recovered For more than 233,000 clients since inception $800m+ Damages recovered To over 4,000 personal injury clients in FY26 ~900 staff, 50+ offices People & locations Large domestic and evolving international presence
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Shine Justice Ltd | 2026 Annual General Meeting $220.4m Adjusted revenue ▲ up 7.8% (FY25: $204.4m) $44.7m Adjusted EBITDA ▲ up 13.7% (FY25: $39.3m) $15.8m Adjusted NPAT ▲ up 62.9% (FY25: $9.7m) 11.19c Adjusted basic earnings per share ▲ up 87.8% (FY25: 5.96c) $19.0m Operating cash flow ▬ FY25: $19.5m $366.6m Net work in progress ▲ up 0.9% (FY25: $363.5m) 1. EBITDA and net work in progress are non-IFRS measures. 1 FY26 FINANCIAL SNAPSHOT 3
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Shine Justice Ltd | 2026 Annual General Meeting Personal Injury $36.6m EBITDA Up 18.4% (FY25: $30.9m) $180.9m Revenue (FY25: $166.3m) Core damages-based plaintiff practice — motor accidents, workers' compensation, public liability, medical law, abuse law and dust diseases. Class Actions $8.2m ADJUSTED EBITDA Up 6.5% (FY25: $7.7m) *Excludes $11.2m constraint increase and a $1.8m fair value loss on disbursements on legacy matter $39.4m Adjusted revenue (FY25: $38.1m) Growing practice spanning class actions and international mass torts, with expanding capability in New Zealand and Thailand. • 47 PI offices and 540+ PI staff • 8.5% market share in a fragmented market • 73.2% of the market held by second- and third-tier firms • Operating across six Shine offices and 100+ staff (including three offices and 10 staff in NZ and Thailand) • In-principle settlement agreements in six class actions • Significant WIP pipeline underpinning future earnings • International expansion underway * Personal Injury Growth Offset By Legacy Class Action Impacts SEGMENT PERFORMANCE 4 1 1. IBISWorld - Personal and Workplace Injury Lawyers in Australia – Nov 2025 1
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Shine Justice Ltd | 2026 Annual General Meeting National scale, improved productivity and disciplined execution supported revenue and margin growth. $180.9m Revenue $36.6m EBITDA 4,000+ Clients compensated $800m+ Damages secured 5,900+ New files opened • Disciplined delivery and turnaround of lower performing business units and several growth strategies successful. • Improved efficiency in both legal work per fee earner and recovery rates, with the highest fees billed on record. • FY26 growth strategies reflected in increase in new file fees for specific branches. • 180 files acquired with opportunity for more. • Lower turnover supported improved productivity. Personal Injury: Scorecard PERSONAL INJURY – OUR FOUNDATION 5
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Shine Justice Ltd | 2026 Annual General Meeting One of Australia’s largest practices. Addressing historical matters while strengthening the operating model for future growth. $39.4m Adjusted revenue $8.2m Adjusted EBITDA 26 Active matters 22 Investigation matters Robust pipeline of prospects, investigations progressing to active matters • A year focused on structure and strategy, laying the foundations for future upside. • Stronger matter-selection discipline • Earlier recoverability review • Tighter portfolio governance • Greater focus on investigation-to-filing velocity • Legal work per fee earner improved during the year, a focus of the practice. • Six in-principle settlement agreements reached for a total of over $290 million. • First class action win in New Zealand. Class Action : Scorecard CLASS ACTION – OUR GROWTH MARKET 6 $35.0m $38.1m $39.4m $8.3m $7.7m $8.2m - $25.0m $50.0m FY24 FY25 FY26 Adjusted Revenue & Adjusted EBITDA Trend CA Adjusted Revenue CA Adjusted EBITDA
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Shine Justice Ltd | 2026 Annual General Meeting Asia Spoke AUS Spoke NZ Spoke USA Hub Competitive positioning Our IMT strategy offers a solution to the global mass tort landscape, tapping into a multi-billion dollar market with a highly scalable operational framework. Strong financial impact Projected to be a driver of long-term revenue growth and profitability starting from FY26 onwards, with potential from large claim values. Litigation funding minimises balance sheet risk. Mitigated risk factors Jurisdictional challenges are mitigated by deep expertise and robust legal counsel. Case duration and funding are managed through strong funder relationships and rigorous case selection. Leveraging Strategic Reach INTERNATIONAL • Source large US Mass Torts (Hub) • Export to international spokes • Source Funding • Litigate & resolve 7 Europe Spoke
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Shine Justice Ltd | 2026 Annual General Meeting Roadmap FY25–FY28 Where We Are Now Established in FY25 to identify, govern and deploy practical AI capabilities across the business. During FY26, Shine expanded the use of AI across legal, operational and corporate functions. Implemented an enterprise AI governance framework supporting the responsible procurement, development and deployment of AI technologies, managing risk and supporting regulatory compliance. Established the foundational platform for the development and deployment of workflow automation and AI agents across legal, operational and corporate functions, enabling scalable future automation. Salesforce remains core to client engagement and intake, now enhanced with AI capabilities across enquiry management, client service, and operational efficiency Established the foundational data platform for enhanced reporting, analytics and future AI capabilities across the business. Commenced implementation of a unified people and payroll platform to modernise workforce management, improve employee experience and enhance workforce data and reporting. Technology: Progressing the Strategy TECHNOLOGY Phase Year Key Milestones Expected Outcome Foundation FY25 Emerging Technology Centre established; Salesforce CRM deployed. Infrastructure in place Proof of Concept FY26 AI governance framework implemented; AI capabilities deployed across legal and business operations; Data Platform established; AI tools and agents introduced. Improved productivity, insights and operational efficiency Acceleration FY27 AI-enabled workflows expanded across the matter lifecycle; increased automation of administrative and operational processes; data-driven decision support embedded. Sustainable productivity and service improvements Scaling FY28 Enterprise AI workflows and agentic capabilities supporting legal, operational and client service functions. Improved scalability, client outcomes and operating leverage 8 Emerging Technology Centre AI Guardrails & Governance Agentic and Automation Platform Client Intake Platform Data Platform People Platform
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Shine Justice Ltd | 2026 Annual General Meeting Financial Position BALANCE SHEET & CAPITAL $259.7m Net assets down 0.6% (FY25: $261.3m) $12.5m Cash & equivalents FY25: $18.1m $86.3m Net debt (incl lease liabilities) Up 6.5% on FY25 $366.6m Net work in progress up 0.9% on FY25 $119.7m of financing facilities with $41.4m headroom; market-rate facility runs to March 2028. Group complied with all banking covenants. Franking credits of $6.1m available at 30 June 2026 (FY25: $4.4m), supporting the continuation of franked dividends. Net debt $86.3m (FY25: $81.0m); operating cash forecast to increase as work in progress realised as fees billed. 9 Funded & Compliant Franking Capacity Disciplined Capital Use
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Shine Justice Ltd | 2026 Annual General Meeting Capital Management: Disciplined Returns CAPITAL MANAGEMENT Balancing shareholder returns with continued investment in growth 2.5¢ FY26 fully franked final dividend Per share fully franked total dividend for FY26 4 cents per share $6.1m Franking credits As at June 2026, providing tax-effective returns 3.87m Shares bought back in scheme ended September 2025. On-market buy-back C A P I T A L A L L O C A T I O N F R A M E W O R K 2.5c fully franked final dividend declared for FY26 (payable October 2026); commitment to fully franked dividends maintained. On-market buy-back program has seen 3.87m shares cancelled over the total life of the scheme. Emerging technology centre, international expansion and personal injury file acquisitions - balanced against shareholder returns and financial flexibility. Class action funding arrangements progressing – this will reduce timing risk while enabling portfolio growth. Dividends Share Buy -back Growth Investment Portfolio Funding 10
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Shine Justice Ltd | 2026 Annual General Meeting In Summary : Strategy & Growth – Next 12 Months STRATEGY & GROWTH Scale Personal Injury • Maintain productivity and recoverability momentum • Grow suitable file volumes • Pursue disciplined acquisition opportunities • Improve conversion and branch performance Build the Class Action Engine • Increase investigation-to-filing velocity • Improve matter selection and governance • Advance external funding arrangements • Progress Australian, New Zealand, Thailand and other international opportunities. Improve Cash and Efficiency • Convert work in progress into billed fees and cash • Scale technology-supported workflows • Maintain cost and capital discipline • Preserve facility and covenant headroom FY27 Outlook Personal injury momentum is expected to continue, with FY26 improvements in legal work per fee earner, write-offs, fees billed, and resolution quantum carrying into FY27. The Group will also continue to pursue acquisitions where they align with its strategic plan. Class actions to focus on filing more matters and increasing investigation to filing velocity. Litigation funding for matters or a portfolio of matters to be progressed and finalised. International Mass Torts hub to continue to source and develop matters for Australia, New Zealand, Thailand and other jurisdictions across the globe. FY26 delivered growth in the personal injury and class action segments, offset by a write down on a legacy class action. For FY27, the Group is expecting to see growth in both the personal injury and class action segments in profitability alongside an increase in group cashflow. Shine enters FY27 focused on sustaining Personal Injury momentum, strengthening Class Actions earnings quality and increasing Group cash conversion. 11
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Shine Justice Ltd | 2026 Annual General Meeting Summary Information This presentation contains summary information about Shine Justice Ltd (ASX: SHJ) and its controlled entities for the year ended 30 June 2026. It should be read with the FY26 Financial Report, Appendix 4E and the Company's ASX announcements. Not Financial Product Advice The information is general in nature and is not financial product, investment, legal or tax advice. It does not consider any person's objectives, financial situation or needs and is not a recommendation to acquire SHJ securities. Forward-looking Statements Statements about strategy, outlook and future performance are forward-looking and subject to risks, uncertainties and assumptions outside the Company's control. Actual results may differ materially and are not guaranteed. Non-IFRS Financial Information EBITDA, cash contribution and net work in progress are non-IFRS / operating measures used by management to assess performance. They are unaudited and should not be viewed in isolation from the statutory results. Past Performance and Currency Past performance is not a reliable indicator of future performance. All figures are in Australian dollars and may be subject to rounding. No Liability To the maximum extent permitted by law, neither Shine or any of its shareholders, directors, officers, agents, employees or advisers accepts, and each expressly disclaims, any liability, including without limitation any liability arising from fault or negligence, for any errors or misstatements in, or omissions from, this presentation or any direct, indirect or consequential loss arising from the use of this presentation or its contents or otherwise arising in connection with it. Notice & Disclaimer IMPORTANT 12