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osb Group H1 2026 results 6 August 2026
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OSB GROUP PLC | Andy Golding Chief Executive Officer
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OSB GROUP PLC | Resilient first half performance H1 2026 results 3 Strategic progress in H1’26 • In March 2025 we set out a Plan to remain #1 specialist lender with improving RoTE • In H1 2026 we delivered a resilient performance • Confident in our longer - term aspirations Funding • Launched a new Limited access savings account • Completed a £549m securitisation of Buy - to - Let mortgages • Migrated c.130k accounts to new savings platform Lending • Soft launched Residential lending on new platform • Accredited to provide Asset Finance under the British Business Bank’s Growth Guarantee Scheme AI • Progressively scaling AI across the Group
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OSB GROUP PLC | H1’26 financial highlights Disciplined lending Cost discipline to create capacity for investment Focus on RoTE and capital returns 1.3% Net loan book growth H1’25: 1.2% £69m of £100m buyback repurchased to date 1 4 Resilient performance despite the macroeconomic headwinds 12bps Loan loss ratio H1’25: 2bps 68% Buy - to - Let as a proportion of total loan book FY’25: 68% (0.4)% Reduction in core administrative expenses H1’25: 0.4% 40.1% Cost to income ratio H1’25: 40.3% 88bps Management expense ratio H1’25: 88bps 38.5p Earnings per share H1’25: 37.3p 15.2% CET1 FY’25: 15.8% 13.3% RoTE H1’25: 13.7% 584p TNAV per share FY’25: 579p 11.8p, up 5% Interim dividend per share H1’25: 11.2p 223bps Net interest margin H1’25: 230bps 1. As at market close 4 August 2026 H1 2026 results
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OSB GROUP PLC | 68% 19% 7% 2% 2% 2% 68% 20% 7% 2% 2% 2% 41% 17% 15% 5% 16% 6% 44% 17% 13% 5% 15% 5% Buy - to - Let 1 Specialist residential 2 Bridging 5 Development finance 6 Commercial mortgages 3 Asset finance 4 Sub - segments: June 2026 Dec’25 Originations 1 Gross loans 1 £26.4bn = £2.3bn = H1’26 FY’25 1. Percentage bars represent proportion of the total, may not cast due to rounding Continue to target longer term portfolio mix shift 5 H1 2026 results +1.3% Net loan book growth vs Dec’25 +10% Originations vs H1’25 Guidance for 2026: net loan book growth broadly similar to 2025 outcome Buy - to - Let enhanced by the launch of the Rely brand in November 2025 Buy - to - Let represented 68% of the Group’s total gross loan book
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OSB GROUP PLC | Momentum continues Transformation programme on track and delivering benefits Launched new savings platform in October 2024 and new lending platform with BTL mortgages in November 2025 6 Transformation programme costs in line with the Plan H1 2026 results • More nimble pricing & faster to market • Migrate remaining Kent Reliance customers to new platform - 130k accounts moved so far • Prepare for Charter Savings Bank migration to new platform in H1’27 • Funding initiatives into 2027 - 28 • Continue to broaden the product offering - launch flexible ISA • Residential mortgages soft launched with a small group of brokers in H1, full market launch in H2 Benefitting from 3.5 years of investment 1. Nimble pricing to prioritise returns 1 2. Enhanced customer experience Savings Lending 3. Operational efficiency 5.0 5.5 6.0 6.5 7.0 7.5 02 Mar 16 Mar 30 Mar 13 Apr 27 Apr Rely Competitor 1 Competitor 2 Lending Lending Lending Savings Fields required for Application in principle 100+ to <50 Automated valuations Money dispersed 5 days to < 1 hr 0% to c.10% 70% 4 days to 1 hr 14 days to 1hr New - to - bank conversion Product launch Variable account rate change Application to offer 44 days to 2 days Offer to completion Application to Agreement in principle 2 hours <10 minutes 1. Buy - to - Let five - year fixed 75% LTV %
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OSB GROUP PLC | Future proofing with AI AI is being developed, governed and progressively scaled across the Group. Current examples include: 7 H1 2026 results What we are scaling next? Data and platforms Investment in modern data foundations unlocks opportunities for more sophisticated pricing optimisation through machine learning Security and resilience Frontier models to strengthen security, performance and stability Agentic AI Exploring internal agents, with complaints handling and customer-facing assistance over time Broker support Navigates complex credit policy for faster , more consistent responses Launched July 2026 Contact centre support Real - time transcription and voice analytics Fraud and document integrity Real - time pattern analysis and fraud detection c.30 (c.£8m) fraudulent applications prevented Income verification and data validation Automated data extraction and validation Currently in test phase Software engineering Multi - model AI - assisted code generation, review and test automation Improved productivity: Colleague productivity Microsoft Copilot, Teams meeting summarisation and ServiceNow AI triage augment daily work c.5 – 10% time saved on routine tasks Developer up c.20% Testing up c.30% c.35% reduction in note - taking time 1 8 - 10 mins saved on complex calls 1 1. Results achieved in pilot phase
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OSB GROUP PLC | 3.0% 3.5% 4.0% 4.5% 5.0% Increased macroeconomic uncertainty with elevated retail deposits costs 8 H1 2026 results (1.0)% (0.8)% (0.6)% (0.4)% (0.2)% - 0.2 % 0.4 % 0.6 % 0.8 % 07/23 10/23 01/24 04/24 07/24 10/24 01/25 04/25 07/25 10/25 01/26 04/26 1 year Bond 1 Year ISA Easy Access Easy Access ISA SONIA +/ - Spreads implied by market pricing 1 1. Average of the top 10 quoted pay rates vs the comparable SONIA swap rate 2. Weighted average 06 /26 1 year product rate 1 year swap 1 year bond swap spread - Market 1 H1’26 FY’24 FY’25 H1’26 Change FY’24 vs H1’26 Change FY’25 vs H1’26 2026 2027 2026 2027 2026 2027 2026 2027 2026 2027 GDP 1.6 1.8 0.2 1.2 0.6 0.4 (1.0) (1.4) 0.4 (0.8) Unemployment 4.7 4.8 5.4 5.2 5.6 5.6 0.9 0.8 0.2 0.4 HPI 0.8 2.0 (0.4) 2.0 (1.0) (0.2) (1.8) (2.2) (0.6) (2.2) CPI 2.1 2.1 2.2 2.3 3.1 1.9 1.0 (0.2) 0.9 (0.4) Base Rate 3.0 2.5 3.4 3.1 3.9 3.5 0.9 1.0 0.5 0.4 Updated macroeconomic scenario assumptions 2 Jan Feb Mar Apr May Jun
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Path to our 2029 RoTE aspiration: confident on longer term outlook 9 OSB GROUP PLC | H1 2026 results 2026 2027 2028 2029 • Cost of retail funding a short to medium - term headwind due to competitive market • Back book roll off from 2027 through to end of 2028 • Portfolio diversification into higher - yielding sub - segments supports risk - adjusted returns • Transformation investment concludes by 2027, with operational leverage and commercial benefits delivered thereafter • MREL debt with call dates in Sept’27 and Jan’29 Illustrative Low teens Top end of mid - teens RoTE Cost of retail funds Back book roll off Portfolio diversification Transformation benefits MREL debt RoTE Market - driven factors Mechanical Management controlled
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OSB GROUP PLC | Victoria Hyde Chief Financial Officer
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OSB GROUP PLC | H1’26 P&L performance H1 26 £m H1 25 £m Change H2 25 £m Change Net interest income 339.8 337.0 1 % 342.4 (1)% Net fair value loss on f inancial instruments (2.5) (14.3) (83)% (7.8) (68)% Gain on sale of financial instruments - - - 3.4 nm Other operating income 3.0 3.1 (3)% 4.2 (29)% Total income 340.3 325.8 4 % 342.2 (1)% Administrative expenses (136.5) (131.4) 4 % (138.7) (2)% Core costs (117.4) (117.9) (0.4)% (123.9) (5.2)% Profit before provisions and Impairments 203.8 194.4 5 % 203.5 - Provisions (0.8) (0.1) nm (2.3) (65)% Impairment of financial assets (15.8) (2.0) nm (11.0) 44 % Profit before tax 187.2 192.3 (3)% 190.2 (2)% Profit after tax 141.3 142.1 (1)% 143.6 (2)% Ratios NIM Basic EPS (pence per share) Return on tangible equity 223bps 38.5 13.3% 230bps 37.3 13.7% (7)bps 3 % (0.4)ppt 226bps 38.3 13.7% (3)bps 1 % (0.4)ppt 11 H1 2026 results
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OSB GROUP PLC | Net interest margin 12 • Cost of retail funds: more costly spreads to SONIA from new retail deposit funding • Lending margin: back book dynamics and new business written at sustainable margins • Updated 2026 guidance: 215 - 220bps reflecting strong competition in the retail savings market and elevated retail funding costs so far this year bps NIM excluding liquid assets - bps (aligned to peers) 265 H1 2026 results 262 H2 2025 Cost of retail funding Lending margin Other H1 2026 Updated 2026 guidance 226 (3) bps 215 - 220 bps 223
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OSB GROUP PLC | Maintaining funding flexibility 13 Deposits remained the largest source of funds H1 2026 results H1’26 £25.0bn 55% 45% FY’25 £24.3bn 54% 46% Fixed Variable 251.5 1,509.9 HY'26 FY'25 Central bank facilities provide flexibility Balances £m Established retail savings brands… 5% 2% 3% 4% 86% H1’26 FY’25 Retail deposits Wholesale Debt SME deposits Other (includes central bank facilities) …delivered 3% deposit growth 1% 2% 4% 4% 89% +3% • Central bank funding provides significant capacity and flexibility in line with our funding requirements and improve overall cost of funds as we manage through the final nine months of customer migration onto the new savings platform
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OSB GROUP PLC | Our cost discipline creates capacity for investment Administrative expenses, £m Cost income ratio Management expense ratio 0.88% 40.3% 0.88% 40.1% 14 131.4 (0.5) 5.0 0.6 136.5 H1 2025 Core expenses Transformation Bank Levy H1 2026 2026 guidance c.280 H1 2026 results 0.4% core cost reduction • 0.4% reduction on core costs reflecting UK real estate rationalisation • Reiterate 2026 guidance: c.£280m of administrative expenses 1 1. Excluding costs related to the new CEO transition and buyout 1
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OSB GROUP PLC | Transformation programme on track 15 Medium - term considerations • A further c.£65m of transformation spend remains to the end of 2027 • Total transformation spend in the 5 - year period to 2027 is on track and expected to be c.£190m as previously guided Total transformation spend £m 1. Balance sheet amounts are shown net of amortisation H1 2026 results 15.3 25.7 19.5 10.5 9.0 4.9 0.7 6.5 2.1 4.4 4.6 5.1 14.3 17.8 8.0 9.8 10.5 20.4 40.7 43.8 20.6 23.2 20.0 FY'23 FY'24 FY'25 H1'25 H2'25 H1'26 Intangible asset movement Amortisation Direct P&L Charge Total P&L Balance sheet 1 Annual Semi - annual Spend to date 65.4 11.8 47.7 124.9 Cumulative P&L Balance Sheet transformation intangible asset as at 30 June 2026 1
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OSB GROUP PLC | Disciplined loan growth, net loan book up 1.3% 16 Gross loan book • Net loan book increased by 1.3%, supported by £2.3bn of originations, up 10% from H1 2025 • Growth in Buy - to - Let and Residential; remain commitment to our medium - term loan book diversification strategy • Reiterate 2026 guidance: net loan book growth broadly similar to 2025 outcome OSB Group gross yield 1 Buy - to - Let Residential Asset finance Commercial mortgages Bridging Development Finance 1. Lending rate including net fees – Jun 2026 OSB Group 6% Buy - to - Let Residential Commercial Bridging Asset finance Development finance H1 2026 results H1’26 £26.3bn 2029 7% 2% 2% 2% 19% 68% BTL < 60% of portfolio FY’25 £26.0bn 7% 2% 2% 2% 20% 68% BTL reduced from 70% at FY’24 mortgages
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OSB GROUP PLC | Credit quality remains strong – H1’26 loan loss ratio 12bps 1. Excluding write offs and other adjustments of £8.8m recognised in the P&L 17 13 8. 4 Expected credit losses £m 123.6 1.8 (3.1) 4.4 (3.1) 2.9 130.6 FY'25 Macro scenarios & valuation Model enhancements & PMA updates 3+ months arrears Stage migration New lending Individually assessed provisions & other H1'26 1.7% 1.8% 1.7% 1.6% 1.0% 1.5% 2.0% Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 4.1 1 H1’26 H1’25 OSB segment 1.7% 2.0% CCFS segment 1.5% 1.5% Group 1.6% 1.8% 3 months+ arrears ECL coverage ratio June 2026 0.50% December 2025 0.47% ECL provision compared to 5 - year average write - offs >10 ECL scenario sensitivity analysis ECL provision Movement to weighted Weighted £130.6m - Downside £149.7m +£19.1m Severe downside £206.0m +£75.4m Buy - to - Let interest coverage ratios OSB CCFS 202% 154% H1 2026 results £7m
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OSB GROUP PLC | Capital generation supports shareholders’ distributions CET1 ratio % 90bps of organic capital generation 1.1 (0.2) (0.5) (0.2) (0.8) FY'25 Profit for the period Loan book growth & mix Dividend Other H1'26 pre buyback Full year buyback H1'26 CET1 target post Basel 3.1 15.2% XX.X % 18 15.8% 11.9 • 90bps of organic capital generation in the period, an increase of 10bps from H1’25, supports an interim dividend of 11.8p and a £100m share buyback announced in March 2026 • CET1 target 13 - 13.5% post Basel 3.1 1. Profit attributable to ordinary shareholders 1 16.0% 13 - 13.5% H1 2026 results
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OSB GROUP PLC | 25.9 12.5 26.3 12.7 Net Loans RWAs FY25 HY26 Loan book diversification led to an increase in RWAs 19 0.2 FY25 Customer loan book growth Mix & other H1'26 1.3% 12.7 12.5 12.6 • RWAs increased by 1.1% (£0.2bn) in H1 2026, driven by loan book growth • Implementation of Basel 3.1 as written is expected to reduce the CET1 ratio as at 30 June 2026 by 1.2% (FY25: 1.3%) driven by an increase in RWAs by 9% RWA density Net loans and RWAs, £bn Movement in RWAs in the year, £bn 38.3% 39.4% H1 2026 results 1.1% -
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OSB GROUP PLC | Andy Golding Chief Executive Officer
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OSB GROUP PLC | Revised short term guidance, confidence in longer term outlook H1 2026 results 21 1. Excluding costs related to the new CEO transition and buyout Net loan book growth NIM Administrative expenses RoTE Distributions Mid single digit if returns meet our requirements Buy - to - Let to comprise ≤ 60% of the net loan book Gradual improvement to low 30s% cost to income ratio and positive jaws 2027 – 2029 Aspirations Loan book diversification Mid teens in 2027 - 28 increasing to the top end of mid teens in 2029 Progressive dividend per share and commitment to return excess capital CET1 ratio 13 - 13.5% post implementation of Basel 3.1 2026 Guidance Broadly similar to 2025 outcome circa 225bps c.£280m 1 Low teens 5% growth in dividend per share and commitment to return excess capital 215 - 220bps Updated c.12.5% 1 Former Unchanged Unchanged Unchanged
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OSB GROUP PLC | Appendices
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OSB GROUP PLC | Tangible net asset value 23 Tangible net asset value per share, pence TNAV £m Number of shares m TNAV per share, Pence 31 December 2025 2,062.7 356 579 Profit attributable to ordinary shareholders 135.0 38 Dividends paid (84.7) (24) Share buyback (101.0) (16) (2) Other movements (17.9) 2 (7) Net change (68.6) (14) 5 30 June 2026 1,994.1 342 584 H1 2026 results
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OSB GROUP PLC | • The Group’s resolution strategy for MREL purposes was reclassified to Transfer from Bail - in, effective from 1 January 2026. The c urrent minimum capital requirement of 9.5% (Pillar 1 and Pillar 2a) equals the MREL requirement • The Group is currently well in excess of minimum regulatory capital requirements plus regulatory buffers 15.2% 1.3% 2.0% 30-Jun-26 18.5% Components of the Group’s capital 24 Capital resources and requirements as a percentage of RWAs 30-Jun-26 250 167 1,931 £m 1,976 The Group has two MREL qualifying debt securities in issue: • £300m issued in September 2023 at 9.5% coupon with a first reset date of 7 September 2027 • £400m issued in January 2024 at 8.875% coupon with a first reset date of 16 January 2029 31 Dec 25 8% 1.5% 2 .5% 2 .0% 14.0% Min regulatory capital requirements H1 2026 results Pillar 1 Pillar 2a CCoB CCyB CET1 AT1 Tier 2
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OSB GROUP PLC | #1 Specialist lender • UK largest independent specialist Buy - to - Let lender 1 • Holistic lending strategy with deep experience in Specialist residential, Commercial mortgages, Asset finance, D evelopment finance and Bridging • Nearly 19,000 active broker partners Multi channel funding platform • Two established retail savings brands with high retention levels: 95 % for KR and 90 % for CSB • Over 134k savings accounts added in the first half • Funding diversification through wholesale and central bank funding including 28 securitisations since 2013 worth £15bn Group’s funding channels as at 30 June 2026 Unique operating model • c. 1,000 highly - skilled colleagues at our fully integrated subsidiary OSBIndia • Strong record of customer service: high retail savings NPS: +70 for KR and + 58 for CSB • 5 - year transformation programme is in its fourth year and provides a foundation for future efficiencies Gross loans £26.3bn as at 30 June 2026 Retail Wholesale Debt SME deposits Other OSB Group today 25 OSB GROUP PLC | BTL Residential Commercial mortgages Asset finance & Development finance Bridging & other 1. UK Finance, Value of BTL gross lending, July 2026 70% 67% 64% 61% 59% 57% 30% 33% 36% 39% 41% 43% UK India Increasing proportion of colleagues in India 2 7% 4% 2% 19% 68% 4% 4% 1% 2% 89% 2. Average number of Group employees H1 2026 results 2021 2022 2023 2024 2025 H1’26
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OSB GROUP PLC | NIM excluding liquid assets 26 Note: NIM excluding liquid assets is defined as annualised net interest income as a percentage of 7 point average of net loan s a nd advances to customers. It excludes a 7 point average of liquid assets which are cash, investment securities and loans to credit institutions which f orm part of the average interest earning assets used in calculating the Group’s NIM. It is aligned with the methodology used by the Group’s closest peers. H1 2025 bps H1 2026 results 230 39 269 226 39 265 223 39 262 NIM Liquid assets NIM ex - liquid assets NIM Liquid assets NIM ex - liquid assets NIM Liquid assets NIM ex - liquid assets Net interest income 337.0 - 337.0 342.4 - 342.4 339.8 - 339.8 Net interest income annualised 679.6 - 679.6 679.2 - 679.2 685.2 - 685.2 Average interest earning assets 29,563.2 4,312.7 25,250.5 30,097.2 4,448.9 25,648.3 30,676.6 4,564.2 26,112.4 NIM 230 39 269 226 39 265 223 39 262 H2 2025 H1 2026
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OSB GROUP PLC | Gross asset yield 6.0% 6.3 % 2. Net interest income 0 100 200 H1 2025 H1 2026 Net interest income (£ m) 198 169 1. Gross loan book RWA as % of net loans 52% 51 % BTL/SME 27 OSB segment result 3. Contribution to profit 4. Loan loss charge as a % of average gross loans 0 5000 10000 FY 2025 H1 2026 Gross loan book (£ m) 15,533 14,710 0 100 200 H1 2025 H1 2026 Contribution to profit (£ m) 189 150 0.09% 0.16% 0.00% 0.10% 0.20% H1 2025 H1 2026 1. Buy - to - Let/SME sub - segment average weighted LTVs include Rely, Kent Reliance and InterBay Buy - to - Let, semi - commercial and com mercial lending In the first half of 2026, all new Buy - to - Let lending was originated through the Group’s new Rely brand, reported within this su b - segment and Kent Reliance for Intermediaries mortgages were withdrawn towards the end of 2025. Average book LTV 1 remained at 70% with 5.5 % of loans by value with LTVs exceeding 90% (FY’25: 5.1%). Average new origination LTV increased to 75 % (H1’25: 71%). H1 2026 results
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OSB GROUP PLC | Gross asset yield 6.4% 6.3 % 2. Net interest income 1. Gross loan book RWA as % of net loans 44% 43 % Residential 28 OSB segment results 1. Total income less impairment losses In the first half of 2026, all new Residential lending was originated through the Group’s Precise brand, reported within the CCF S segment. Kent Reliance for Intermediaries Residential mortgages were withdrawn towards the end of 2025 and the book, which is presented within this sub - seg ment, is in run - off. Average book LTV decreased marginally to 48 % while 1.9 % of loans by value had LTVs exceeding 90% (FY’25: 49% and 1.9%, respectively). 3. Contribution to profit 1 4. Loan loss charge as a % of average gross loans 0 1,000 2,000 FY 2025 H1 2026 Gross loan book (£ m) 1,822 1,967 0 20 40 H1 2025 H1 2026 Contribution to profit (£ m) 31 34 0 25 50 H1 2025 H1 2026 Net interest income (£ m) 32 35 0.02% 0.11% 0.00% 0.10% H1 2025 H1 2026 H1 2026 results 2 2
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OSB GROUP PLC | BTL/SME sub - segments 29 OSB segment results 2. Semi - commercial/commercial mortgages 1 1. Buy to let 3. Development finance 1 4. Asset finance 0 7,000 14,000 FY 2025 H1 2026 Gross loan book, £m 12,672 12,062 The weighted average interest coverage ratio (ICR) was 202% during the first half (H1 20 2 5: 195%) 0 1,000 2,000 FY 2025 H1 2026 Gross loan book, £m 1,869 1,763 • Weighted average book LTV increased to 72 % (FY’25: 71%) • Average loan size increased to £465k ( FY’ 25: £460k) 258 198 0 300 600 FY 2025 H1 2026 446 522 Loans Undrawn commitments Development finance to small and medium - sized residential property developers Commitments to finance the development of 3,301 residential units 0 200 400 FY 2025 H1 2026 Gross loan book, £m 455 424 Predominantly targets UK SMEs and small corporates financing business critical assets A ccredited by the British Business Bank to provide loans under the Growth Guarantee Schem £m H1 2026 results 1. As at 31 December 2025, £103.3m of development finance balance was reclassified from commercial mortgages to better reflec t t he type of lending
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OSB GROUP PLC | BTL sub - segment 30 CCFS segment results 1. Total income less impairment losses or credits In the first half of 2026, all new Buy - to - Let lending was originated through the Group’s new Rely brand, reported within OSB Buy - to - Let/SME sub - segment. Precise Buy - to - Let mortgages were withdrawn towards the end of 2025 and the book, which is presented within this sub - segment, is in run - off. Weighted average LTV of the loan book was unchanged from 31 December 2025 at 67% . Gross asset yield 5.9% 5.7 % 2. Net interest income 1. Gross loan book RWA as % of net loans 4 2 % 43 % 3. Contribution to profit 1 4. Loan loss charge as a % of average gross loans 0 4,000 FY 2025 H1 2026 Gross loan book (£ m) 5,172 5,630 0 50 100 H1 2025 H1 2026 Contribution to profit (£ m) 85 52 0 50 100 H1 2025 H1 2026 Net interest income (£ m) 82 54 (0.09)% 0.07% -0.20% -0.10% 0.00% 0.10% H1 2025 H1 2026 H1 2026 results
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OSB GROUP PLC | 2. Net interest income Residential sub - segment 31 CCFS segment results In the first half of 2026, all new Residential lending was originated through the Group’s Precise brand and Kent Reliance for Intermediaries Residential mortgages were withdrawn towards the end of 2025. Average origination LTV increased to 66% (H1’25: 62%), whilst the book LTV increased marginally to 61 % (FY’25: 60%) 1. Gross loan book RWA as % of net loans 4 5 % 45 % 3. Contribution to profit 1 4. Loan loss charge as a % of average gross loans 0 1,000 2,000 3,000 FY 2025 H1 2026 Gross loan book (£ m) 3,253 3,131 0 25 50 H1 2025 H1 2026 Contribution to profit (£ m) 39 40 0 25 50 H1 2025 H1 2026 Net interest income (£ m) 40 39 (0.09)% 0.01% -0.20% -0.10% 0.00% 0.10% H1 2025 H1 2026 1. Total income less impairment losses or credits H1 2026 results
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OSB GROUP PLC | Bridging sub - segment 32 CCFS segment results Short - term bridging o riginatio ns increased to £ 338.1 m (H1 2025: £331.2m ). In March, the Group widened its product range adding second charge bridging lending. Gross asset yield 8.7% 8.5% 2. Net interest income 1. Gross loan book RWA as % of net loans 58% 57 % 3. Contribution to profit 1 4. Loan loss charge as a % of average gross loans 0 400 800 FY 2025 H1 2026 Gross loan book (£ m) 596 594 0 5 10 15 H1 2025 H1 2026 Contribution to profit (£ m) 13 9 0 5 10 15 H1 2025 H1 2026 Net interest income (£ m) 14 10 0.09% 0.24% 0.00% 0.10% 0.20% 0.30% H1 2025 H1 2026 1. Total income less impairment losses or credits H1 2026 r esults
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OSB GROUP PLC | Updated forward - looking macroeconomic scenarios 33 Forecast macroeconomic variables over a five - year period Scenario 1 % Scenario Probability weighting % Economic measure Year end 2026 Year end 2027 Year end 2028 Year end 2029 Year end 2030 Base case 40 GDP Unemployment House p rice growth CPI Bank base rate 0.9 5.6 0.3 3.4 3.8 0.8 5.4 0.6 1.9 3.6 1.8 4.8 3.2 2.0 3.5 1.7 4.5 6.2 2.0 3.5 1.5 4.3 6.8 2.0 3.5 Upside 30 GDP Unemployment House p rice growth CPI Bank base rate 1.7 5.2 1.2 4.1 5.0 3.2 4.4 4.1 2.8 5.3 2.6 3.5 6.5 2.6 4.9 2.3 3.5 8.2 2.2 4.1 1.5 3.6 7.0 2.0 3.5 Downside 20 GDP Unemployment House p rice growth CPI Bank base rate (0.4) 5.6 (3.7) 2.1 3.1 (1.9) 6.3 (3.9) 1.3 1.9 0.8 6.8 (0.7) 1.7 1.8 1.1 6.6 3.1 2.1 1.8 1.6 6.3 6.2 1.8 1.8 Severe downside 1 0 GDP Unemployment House p rice growth CPI Bank base rate (1.9) 6.5 (7.8) 1.2 2.5 (5.0) 8.4 (9.1) 0.2 0.8 0.4 8.3 (5.4) 0.8 0.8 0.9 7.5 1.9 1.7 0.8 1.7 7.1 8.0 1.9 0.8 1. Scenarios show annual movement for GDP, house price growth and CPI and year end positions for unemployment and bank base r ate H1 2026 results
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Important disclaimer THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION This document should be read in conjunction with any other documents or announcements distributed by OSB GROUP PLC (OSBG) through the Regulatory News Service (RNS) . This document is not audited and contains certain forward - looking statements with respect to the business, strategy and plans of OSBG, its current goals, beliefs, intentions, strategies and expectations relating to its future financial condition, performance and results, and ESG ambitions, targets and commitments described herein . Such forward - looking statements include, without limitation, those preceded by, followed by or that include the words ‘targets’, ‘believes’, ‘estimates’, ‘expects’, ‘aims’, ‘intends’, ‘will’, ‘may’, ‘anticipates’, ‘projects’, ‘plans’, ‘forecasts’, ‘outlook’, ‘likely’, ‘guidance’, ‘trends’, ‘future’, ‘would’, ‘could’, ‘should’ or similar expressions or negatives thereof but are not the exclusive means of identifying such statements . Statements that are not historical or current facts, including statements about OSBG’s, its directors’ and/or management’s beliefs and expectations, are forward - looking statements . By their nature, forward - looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future that could cause actual results or events to differ materially from those expressed or implied by the forward - looking statements . Factors that could cause actual business, strategy, plans and/or results (including but not limited to the payment of dividends) to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward - looking statements made by OSBG or on its behalf include, but are not limited to : general economic and business conditions in the UK and internationally, including any changes in global trade policies ; market related trends and developments ; fluctuations in exchange rates, stock markets, inflation, deflation, interest rates, energy prices and currencies ; policies of the Bank of England, the European Central Bank and other G 7 central banks ; the ability to access sufficient sources of capital, liquidity and funding when required ; changes to OSBG’s credit ratings ; the ability to derive cost savings ; changing demographic developments, and changing customer behaviour, including consumer spending, saving and borrowing habits ; changes in customer preferences ; changes to borrower or counterparty credit quality ; instability in the global financial markets, including Eurozone instability, the potential for countries to exit the European Union (the EU) or the Eurozone, and the impact of any sovereign credit rating downgrade or other sovereign financial issues ; technological changes and risks to cyber security ; natural and other disasters, adverse weather and similar contingencies outside OSBG’s control ; inadequate or failed internal or external processes, people and systems ; fraud and other financial crime ; acts of war and terrorist acts or hostility and responses to those acts ; geopolitical events and diplomatic tensions ; the impact of outbreaks, epidemics and pandemics or other such events ; changes in laws, regulations, taxation, ESG reporting standards, accounting standards or practices, including as a result of the UK’s exit from the EU ; regulatory capital or liquidity requirements and similar contingencies outside OSBG’s control ; the policies and actions of governmental or regulatory authorities in the UK, the EU or elsewhere including the implementation and interpretation of key legislation and regulation ; the ability to attract and retain senior management and other employees ; the extent of any future impairment charges or write - downs caused by, but not limited to, depressed asset valuations, market disruptions and illiquid markets ; exposure to regulatory scrutiny, legal proceedings, regulatory investigations or complaints ; changes in competition and pricing environments ; the inability to hedge certain risks economically ; the adequacy of loss reserves ; the actions of competitors, including non - bank financial services and lending companies ; the success of OSBG in managing the risks of the foregoing ; and other risks inherent to the industries and markets in which OSBG operates . Accordingly, no reliance may be placed on any forward - looking statement . Neither OSBG, nor any of its directors, officers or employees provides any representation, warranty or assurance that any of these statements or forecasts will come to pass or that any forecast results will be achieved . Any forward - looking statements made in this document speak only as of the date they are made and it should not be assumed that they have been revised or updated in the light of new information of future events . Except as required by the Prudential Regulation Authority, the Financial Conduct Authority, the London Stock Exchange PLC or applicable law, including, without limitation, the UK Listing Rules, the Disclosure Guidance and Transparency Rules and UK Market Abuse Regulations, OSBG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward - looking statements contained in this document to reflect any change in OSBG’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based . For additional information on possible risks to OSBG’s business, (which may cause actual results to differ materially from those expressed or implied in any forward - looking statement), please see the “Risk review” section in the OSBG interim results for 2026 . Copies of this are available at www . osb . co . uk and on request from OSBG . Nothing in this document or any subsequent discussion of this document constitutes or forms part of a public offer under any applicable law or an offer or the solicitation of an offer to purchase or sell any securities or financial instruments . Nor does it constitute advice or a recommendation with respect to such securities or financial instruments, or any invitation or inducement to engage in investment activity under, or financial promotion within the meaning of, section 21 of the Financial Services and Markets Act 2000 . Past performance cannot be relied on as a guide to future performance . Statements about historical performance must not be construed to indicate that future performance, share price or results in any future period will necessarily match or exceed those of any prior period . Nothing in this document is intended to be, or should be construed as, a profit forecast or estimate for any period . In regard to any information provided by third parties, neither OSBG nor any of its directors, officers or employees explicitly or implicitly guarantees that such information is exact, up to date, accurate, comprehensive or complete . In no event shall OSBG be liable for any use by any party of, for any decision made or action taken by any party in reliance upon, or for inaccuracies or errors in, or omission from, any third - party information contained herein . Moreover, in reproducing such information by any means, OSBG may introduce any changes it deems suitable, may omit partially or completely any aspect of the information from this document, and accepts no liability whatsoever for any resulting discrepancy . Liability arising from anything in this document shall be governed by English law, and neither OSBG nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document . Nothing in this document shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws . Certain figures contained in this document, including financial information, may have been subject to rounding adjustments and foreign exchange conversions . Accordingly, in certain instances, the sum or percentage change of the numbers contained in this document may not conform exactly to the total figure given . Non - IFRS performance measures OSBG believes that any non - IFRS performance measures included in this document provide a more consistent basis for comparing the business' performance between financial periods, and provide more detail concerning the elements of performance which OSBG is most directly able to influence or which are relevant for an assessment of OSBG . They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by the Board . However, any non - IFRS performance measures in this document are not a substitute for IFRS measures and readers should consider the IFRS measures as well . Refer to the Appendix in the OSBG interim year results for 2026 . for further details, reconciliations and calculations of non - IFRS performance measures included throughout this document, and the most directly comparable IFRS measures . Copies of the OSBG interim results for 2026 are available at www . osb . co . uk and on request from OSBG . OSB GROUP PLC, Registered in England and Wales (company number 11976839). Registered office: OSB House, Quayside, Chatham Maritime, Chatham, United Kingdom, ME4 4QZ.