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H1 2026 INTERIM RESULTS R E P O R T I N G P E R I O D Six months ended 30 June 2026 P U B L I S H E D September 2026 S H A R E C O D E JSE: OPA T U R N I N G P O T E N T I A L I N T O F I N A N C I A L P R O G R E S S
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H 1 2 0 2 6 I N T E R I M R E S U L T S Today’s presenters Salvador Anglada G R O U P C H I E F E X E C U T I V E O F F I C E R Mariusz Dabrowski G R O U P C H I E F F I N A N C I A L O F F I C E R Q&A follows the presentation · Investor relations: ir@optasia.com 2 Avi Lasarow F I N E R G I C E O
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H 1 2 0 2 6 I N T E R I M R E S U L T S 01 H1 2026 UPDATE 3 H1 2026 update Finergi overview Financial performance Outlook and execution Q&A
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4 H 1 2 0 2 6 I N T E R I M R E S U L T S Optasia is the financial intelligence layer enabling credit at scale. V IS IO N A world where financial progress reaches everyone. M IS S IO N We build precision intelligence that unlocks financial opportunity at scale.
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H 1 2 0 2 6 I N T E R I M R E S U L T S H 1 2 0 2 6 U P D A T E H1 combined strong financial performance with continued progress in broadening the Group’s growth base H1 2026: strong financial delivery and continued strategic progress F INA NC IA L P ERF O RM A NC E 1 Record growth and profitability $185.3m +58% Revenue $77.9m +45% Adjusted EBITDA $39.3m +40% Normalised net income 2 Strong cash generation $32.7m +150% Adjusted free cash flow 41.9% from 24.3% Adjusted free cash flow conversion 3 MFS driving the mix shift 72% from 62% MFS share of revenue +84% MFS revenue growth $3.5bn +46% Distributed value 4 Disciplined credit performance and balance sheet 1.3% Default rate 4.0x Cover ratio 0.20x Net debt / adj. EBITDA ST RAT EG IC P RO G RES S All movements versus H1 2025. 5 Three new deployments live Including Gabon and the Group’s first MFS proposition in South Sudan Established markets scaling Continued strong growth in Ghana, Pakistan, Indonesia and Congo-Brazzaville Merchant lending launched A first proposition targeting SMEs as end users Finergi acquired and being integrated Completed in the period, extending the platform into utility credit FirstRand collaboration Shareholding increased, with the FNB collaboration progressing
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H 1 2 0 2 6 I N T E R I M R E S U L T S H 1 2 0 2 6 U P D A T E Growth rates are above the target ranges set previously, with capex within target 6 F U LL Y EA R TA RG ETS H 1 2026 P ERF O RMA NC E Revenue growth 28pp ahead above 30% +58% Adjusted EBITDA growth 15pp ahead above 30% +45% Normalised net income growth 5pp above the top of the range 25–35% +40% Capex as % of revenues Within target 6% of revenues 4.5% H1 performance tracking strongly ahead of full-year targets H1 performance supports confidence in full-year delivery
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H 1 2 0 2 6 I N T E R I M R E S U L T S H 1 2 0 2 6 U P D A T E Known H1 developments shape the H2 growth profile Together, these three factors explain the H1/H2 growth comparison — and are fully captured in FY2026 targets 7 FX H1 benefited from favourable FX environment • H1: stronger currencies, led by the cedi, supported revenue growth. • Outlook: more normalised FX contribution. S ING L E PA RT NER · OV ERD RA F T Overdraft transitioning in-house for one partner • Structure: one partner bringing overdraft proposition in-house affecting 3 markets. • Transition: Uganda and Ghana completed; Cameroon in H2. • Impact: greater impact on revenue than earnings, given lower margins. NIG ERIA · AC S Services restored under a new multi-provider market structure • Regulatory: authorised; service live. • Structure: multi-provider market structure; performance-based customer allocation. • Planning: H2 and FY2026 targets based on current run-rate. • Upside: further recovery not required for delivering the plan. Nigeria, a single-partner overdraft transition and FX normalisation affect the second-half comparison
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FY2026 assumes the current run-rate; further recovery is upside Nigeria: services restored under a new multi-provider market structure Following a temporary Q2 suspension, service is live again in a multi-provider market structure with performance-based customer allocation 01 REG U L ATO RY T RA NS IT IO N April 2026 New digital consumer-lending framework created a temporary market disruption. 02 O P ERAT ING P O S IT IO N June 2026 FCCPC authorisation in place. All operator partners live by 24 June 2026. 03 M A RKET ST RU CT U RE From July 2026 The market now operates under a multi-provider market structure, with customer allocation based on performance. 04 F INA NC IA L IM PACT FY2026 FY2026 assumes the current run-rate. Further recovery represents upside. → → → REG U L ATO RY P O S IT IO N TO DAY Optasia holds the relevant FCCPC authorisation to operate. Broader legal proceedings relating to the regulatory framework remain ongoing and are being monitored. 8 H 1 2 0 2 6 I N T E R I M R E S U L T S Under 4% revenue contribution in Q2 2026 H 1 2 0 2 6 U P D A T E
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H 1 2 0 2 6 I N T E R I M R E S U L T S H 1 2 0 2 6 U P D A T E From H1 to H2: resetting the comparison base Underlying growth across the broader business remains strong 9 An illustrative bridge isolates the known effects before underlying growth W H A T T H IS M EA NS F O R H 2 NIG ERIA · AC S H2 assumes the current run-rate under the new multi-provider market structure. Further recovery is upside. S ING L E PA RT NER · OV ERD RA F T The in-house transition reduces reported revenue more than earnings, reflecting the lower-margin profile of these services. FX H1 benefited from favourable FX; H2 assumes no repeat of that tailwind. *Impact of overdraft services on net revenue is lower given the margin profile of the product. 185.3 H1 2026 –10.4 Nigeria ACS to run-rate –19.9 Single partner overdraft* –17.9 FX 137.1 H1 illustrative base for H2 Organic growth Nigeria ACS Illustrative H2 KNO W N H 2 IM P A C T S · Q U A NT IF IED F RO M T H E B A S E · IL L U S T RA T IV E
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Each lever is already contributing or in delivery 10 H 1 2 0 2 6 I N T E R I M R E S U L T S H 1 2 0 2 6 U P D A T E Growth is broadening across deployments, propositions and distribution rails The strategy is scaling the existing footprint while adding new use cases and routes to customers S CA L E D EP LOY M ENTS & M A RKETS 65 deployments Established deployments continue to scale while new launches broaden the footprint. B ROA D EN C RED IT P RO P O S IT IO NS 7 propositions One platform supports live, pre-commercial and in-development products. A D D D IST RIB U T IO N RA IL S 3 routes to customers Two new rails opening alongside established telco distribution. LIVE3 new deployments in H1 8+ EXPECTED IN H212 deployments in delivery IN DEVELOPMENT3 markets LIVE4 propositions PRE-COMMERCIAL1 proposition IN DEVELOPMENT2 propositions LIVE*Banking Extends Optasia credit into bank ecosystems. LIVE**Utilities Extends Optasia-powered credit into utility and prepaid-meter ecosystems. *Deployment activity with banking partner launched post period-end ** Energy advance: platform capability is live; commercial activity is currently in trial and proof of concept stages.
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H 1 2 0 2 6 I N T E R I M R E S U L T S Established deployments are scaling as the footprint expands Three deployments went live in H1, with 12 more progressing through delivery 3 New deployments live in H1 Ghana Merchant lending Gabon Overdraft South Sudan Cash advance 3 Markets in development Ethiopia Mozambique Kenya ES T A B L IS H ED D EP L O Y M ENT S C O NT INU ED T O S C A L E REV ENU E M IX B Y G EO G RA P H Y — H 1 2026 · $185. 3m Ghana Strong multi-proposition growth Pakistan Strong MFS performance Indonesia Continued growth across established activity Congo-Brazzaville Strong MFS performance Growth supported by deeper penetration, broader eligibility, higher usage and additional propositions within established partner ecosystems. 32% 13% 13% 9% 7% 7% 19% Ghana Uganda Congo-Brazzaville Nigeria Pakistan South Africa Others 11 12 Deployments in the delivery phase 8+ new deployments expected to go live in H2 2026, including in: + Uganda merchant lending and project with FNB South Africa launched post period-end South Africa DRC Iraq Ghana H 1 2 0 2 6 U P D A T E Established deployments are driving current growth, while recent launches and the delivery pipeline broaden the future revenue base
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H 1 2 0 2 6 I N T E R I M R E S U L T S H 1 2 0 2 6 U P D A T E One platform, a broader proposition set New propositions are configured on the same decisioning engine and integration, rather than built from scratch T H E P RO D U C T S U IT E W H ERE W E H A V E L A U NC H ED Merchant lending G H A N A · U G A N D A 800 → 56,000 merchants on the Ghana proposition, May–July Replicated into Uganda after period end — a second market, same build. Overdraft G A B O N ~150,000 customers reached in the first week of rollout Early adoption evidences demand in newly launched markets. Line of credit I N D E V E L O P M E N T Draw, repay, redraw Revolving limit over a 30-day period, drawn and repaid as needed In development on the same engine and integration — configured rather than rebuilt. Configurability accelerates replication across partners, markets and use cases 12 Cash advance MFS Live Overdraft MFS Live Merchant lending MFS Live · H1 2026 Airtime advance ACS Live Line of credit MFS In development Telco BNPL ACS In development Energy advance U T I L I TY C R E D I T Live* * Energy advance: platform capability is live; commercial activity is currently in trial and proof of concept stages.
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13 The relationship opens an additional route for Optasia-powered credit through banking ecosystems. FNB: expanding the relationship across diverse propositions Product and technology collaboration is expanding across propositions in South Africa ACT IV E ENGAG EM ENTS LIVEAirtime advance Optasia decisioning supports FNB Connect’s airtime-advance proposition in South Africa. FNB wallet cash advance A cash-advance proposition for the FNB wallet ecosystem in South Africa. PIPELINEPartnership pipeline Further opportunities to deepen the collaboration across customer propositions and markets. T H E PA RT NERS H IP M O D EL FNB Owns the customer proposition and the relationship. Optasia Provides the precision decisioning, technology integration and managed-service capability. T H E A L IG NM ENT Distribution, decisioning and technology working as one A platform for new products across the FNB ecosystem 26.1% FirstRand is invested as a shareholder in Optasia. H 1 2 0 2 6 I N T E R I M R E S U L T S H 1 2 0 2 6 U P D A T E FNB product launches went live post period-end. LIVE
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H 1 2 0 2 6 I N T E R I M R E S U L T S One platform scaling across partners and propositions One decisioning engine, 200+ live models and sub-second decisions across 30m+ daily transactions The same decisioning, data and operating capabilities underpin every deployment — and continue to evolve 01 Precision decisioning • Advanced credit scoring deployed more widely across the estate • Reinforcement-learning decisioning extended across markets • New fraud-detection capability progressing through pilot 02 Platform & data • Dynamic pricing and product orchestration expanded • Greater automation across data processing, release and testing • Model-validation, security and access controls strengthened 03 Operating capability • Regulatory and compliance capability strengthened across the Group • Greater standardisation across launch, servicing and recovery processes • Increased platform configurability supporting new products and markets R E S P O N S IB L E B Y D E S IG N Affordability assessment Defined credit policies Active portfolio monitoring Continuous model validation N E T- R E V E N U E U P L I F T INV EST ING IN S M A RT ER D EC IS IO NING 8 PROJECTS Advanced credit scoring, wider estate 6 DEPLOYMENTS Reinforcement- learning decisioning 0.5–3.0% in net revenue where deployed P L AT F O RM ENH A NC EM ENTS 25+ A U T O M A T E D R E L E A S E A N D T E S T I N G Starting to be implemented across existing deployments 14 H 1 2 0 2 6 U P D A T E
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H 1 2 0 2 6 I N T E R I M R E S U L T S 02 Finergi overview 15 H1 2026 update Finergi overview Financial performance Outlook and execution Q&A
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H 1 2 0 2 6 I N T E R I M R E S U L T S Finergi: extending Optasia into utility ecosystems A differentiated utility-credit model addressing a recurring prepaid-electricity need W H AT F INERG I B RING S TO O PTA S IA H OW T H E P RO D U CT WO RKS Recharge needed Customer needs electricity but does not have sufficient balance to recharge Recharge advanced Finergi funds the electricity purchase Utility paid Settled immediately, in full Repaid on top-up Proprietary technology supports recovery at the meter Finergi adds a new distribution rail, new data and differentiated IP to the Optasia platform A new distribution rail / future recovery rail Extends Optasia-powered credit into utility and prepaid-meter ecosystems Greater diversification Adds a route to customers beyond the established MNO and mobile-money channels A new data ecosystem Creates additional consumption and repayment data that could support broader decisioning and future propositions Differentiated IP Proprietary technology and patent protection support the utility-credit model and replication across markets 01 02 03 04 → → → C O M M E R C I A L M O D E L Flat fee per advance · No interest or late fees · Repaid in recharge flow · Scales on meter networks 16 F I N E R G I O V E R V I E W T H E M A RKET NEED Prepaid meters becoming the default Income volatility makes pay-before-use fragile Electricity and cash- flow gap Traditional credit models fail in this context Market drivers W H AT IS D RIV ING IT Mission 300 World Bank initiative targeting electricity access for 300m people by 2030. 53% of Mission 300 priority markets are covered by Finergi’s patent. This creates a recurring, essential credit need. 17+ governments committed to Energy Compacts
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How the service works: more electricity sold, more consumers powered Finergi’s Energy advance product is an advance, not a loan Energy advance turns a recurring, essential need into an advance recovered on the next recharge. THE FINERGI MODEL • We pre-purchase electricity and advance the value of credits • The utility is settled immediately; there is no risk to the utility • Users pay a small convenience fee to cover the cost of provision, including channel costs • No interest is charged and there are no late payment fees • The user repays the advance the next time they recharge their meter • The service fee is a flat rate included in the advance We solve a fundamental problem for utility companies 1 Electricity generated cannot be stored and, if not used, is lost 2 Customers want electricity and cannot buy it 3 Finergi bridges the gap and solves the problem for both WHO BENEFITS For the consumer › Instant decision › Cost is comparable to an airtime advance › Builds a credit score, even if unbanked › Power now, not later; no more sitting in the dark For the utility › No CAPEX or OPEX exposure › No risk; Finergi covers all bad debts › Additional electricity sales and increased cash flow › Better overall efficiencies › Enhanced customer experience Access through any channel Mobile wallet SMS USSD H 1 2 0 2 6 I N T E R I M R E S U L T S F I N E R G I O V E R V I E W 17
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H 1 2 0 2 6 I N T E R I M R E S U L T S Finergi: Progressing from pilots towards commercialisation Three discovery pilots are live; demand and repayment are evidenced while economics and scalability remain in test Capital is deployed progressively as commercial evidence is established 18 F I N E R G I O V E R V I E W MARKET FOOTPRINT COMMERCIAL VALIDATION ECOSYSTEM Pilots live Namibia · Uganda · Lesotho Expected in H2 Zambia · Guinea Conakry In the pipeline Ghana · South Africa · Zimbabwe · Botswana · Ethiopia Future pipeline Indonesia · Egypt · Benin · Kenya · Rwanda · Cameroon Demand EVIDENCED Advance take-up across live pilots within the go-to-market strategy segments. Repayment performance EVIDENCED Recovery on the next recharge, across full cycles Unit economics Flat fee against costs to serve and loss experience - validation of assumptions Distribution scalability Replication across meter, vending and agent networks at scale End Users Retailers Banks Distributors Aggregators Utility Physical Sales channels Wallets National distributors (depending on market) Recovery GO -TO -M A RKET M O D EL DISCOVERY COMMERCIAL PRE-UTILITY UTILITY IN TEST Supervendors IN TEST 1 2 3 4
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H 1 2 0 2 6 I N T E R I M R E S U L T S 03 Financial performance 19 H1 2026 update Finergi overview Financial performance Outlook and execution Q&A
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H 1 2 0 2 6 I N T E R I M R E S U L T S F I N A N C I A L P E R F O R M A N C E H1 2026 at a glance Strong growth, higher cash conversion and solid credit performance S C A L E · D I S T R I BU T E D V A L U E $3.5bn +46% vs H1 2025 G R O W T H · R E V E N U E $185.3m +58% vs H1 2025 P R O FI T A BI L I T Y · A D J . E BI T D A $77.9m Margin 42.0% E A R N I N G S · N O R M A L I S E D N E T I N C O M E $39.3m +40% vs H1 2025 C A S H · A D J . FC F $32.7m +150% vs H1 2025 C A S H C O N V E R S I O N · A D J . FC F 41.9% of Adjusted EBITDA P R I C I N G · T A K E R A T E 5.3% +0.4pp vs H1 2025 R I S K M A N A G E M E N T · D E FA U L T R A T E 1.3% Cover ratio 4.0x G E A R I N G · N E T D E BT / A D J . E BI T D A 0.20x $30.6m net debt Growth in every headline measure, with cash conversion improving as the book grew 20
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Revenue growth outpaced distributed value growth Distributed value increased 46%, with revenue up 58% and Adjusted EBITDA up 45% REVENUE ($M) 42.6 43.8 51.1 19.0 72.4 133.0 H1 2024 H1 2025 H1 2026 ACS MFS 1.4 1.5 1.6 0.3 0.9 1.9 H1 2024 H1 2025 H1 2026 ACS MFS 28.1 53.8 77.9 H1 2024 H1 2025 H1 2026 DISTRIBUTED VALUE ($BN) ADJUSTED EBITDA ($M) Adjusted EBITDA margin 1.7 2.4 3.5 61.6 117.2 185.3 +41% +46% +90% +58% +91% +45% 45.7% 45.9% 42.0% 72%MFS share of revenue 62%31% 21 Total revenue includes other revenue of $1.1m (H1 2025: $0.9m) F I N A N C I A L P E R F O R M A N C EH 1 2 0 2 6 I N T E R I M R E S U L T S Monetisation improving as revenue outgrows distributed value
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Higher monetisation with resilient credit performance Take rate increased to 5.3% while the default rate moved to 1.3%, with cover at 4.0x Continued shift towards MFS products driving a higher take rate, preserving risk-adjusted returns 5.3% TAKE RATE +0.4pp vs H1 2025 1.3% DEFAULT RATE +0.2pp vs H1 2025 4.0x C O V E R R A T I O Revenue over default $1.9bn M F S D I S T R I B U T E D V A L U E +108% vs H1 2025 TAKE RATE VS DEFAULT RATE (%) 3.5% 4.9% 5.3% 0.9% 1.1% 1.3% H1 2024 H1 2025 H1 2026 Take rate Default rate DISTRIBUTED VALUE ($BN) 1.7 2.4 3.5 H1 2024 H1 2025 H1 2026 Cover ratio held at ~4.0x while the book more than doubled since H1 2024. 22 F I N A N C I A L P E R F O R M A N C EH 1 2 0 2 6 I N T E R I M R E S U L T S
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Revenue growth materially ahead of operating-cost growth OPERATING COSTS ($M) 11.9 15.5 21.6 4.8 2.2 12.2 20.3 23.8 H1 2024 H1 2025 H1 2026 Normalised operating costs* IPO-related costs Operating costs as % of revenue* CAPITAL EXPENDITURE ($M) 3.8 6.0 8.3 H1 2024 H1 2025 H1 2026 Capex Capex as % of revenue The platform continued to scale with positive operating leverage and low capital intensity Continued investment in growth and capability while operating-cost growth remained well below revenue growth 23 * Operating costs excluding one-off IPO and transaction-related costs F I N A N C I A L P E R F O R M A N C EH 1 2 0 2 6 I N T E R I M R E S U L T S 19.4% 13.2% 11.6% 6.2% 5.1% 4.5%
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H 1 2 0 2 6 I N T E R I M R E S U L T S Working-capital intensity eased as MFS scaled The increasing contribution of MFS raises working-capital requirements, while intensity continued to moderate The incremental cash requirement fell even as MFS continued to scale $133.1m NET WORKING CAPITAL +43% vs H1 2025 39.9% NWC AS % OF LTM REVENUE from 45.1% in H1 2025 12.0% C H A N G E I N N W C A S % O F L T M R E V E N U E from 26.8% in H1 2025 ~90 days I N V O I C I N G C Y C L E from distribution, once defaults crystallise 24 NET WORKING CAPITAL (NWC) EVOLUTION ($M) 37.3 114.9 175.512.5 21.0 28.5 -12.1 -42.7 -70.9 37.7 93.2 133.1 H1 2024 H1 2025 H1 2026 Change in NWC as % of LTM revenue NWC as % of LTM revenue W H Y T H E C Y C L E I S S T R U C T U R A L MFS advances are funded ahead of the revenue they generate; invoicing follows ~90 days from distribution, once defaults crystallise. The unbilled share of receivables rises as MFS scales — the ACS cycle is shorter. F I N A N C I A L P E R F O R M A N C E Trade & other receivables Margin deposits Payables & income tax 27.1% 45.1% 39.9% -3.4% 26.8% 12.0%
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Cash conversion strengthened while funding a larger MFS book Adjusted free cash flow increased 150%, with conversion improving while supporting continued growth ADJUSTED FREE CASH FLOW ($M) H1 2026 — FROM ADJUSTED EBITDA TO CASH FLOW ($M) 77.9 Adjusted EBITDA (6.7) Withholding & other taxes (4.3) Income tax (25.9) Change in NWC (8.3) Capex 32.7 Adjusted free cash flow Working capital absorbed $25.9m as the MFS book scaled — the largest single call on cash, and the one that funds future revenue. H 1 2 0 2 6 I N T E R I M R E S U L T S 25 82.4% 24.3% 41.9% 23.2 13.1 32.7 H1 2024 H1 2025 H1 2026 Adjusted Free Cash Flow F I N A N C I A L P E R F O R M A N C E Adj. FCF conversion (% of Adj. EBITDA) Working capital remained the largest use of cash, funding future MFS revenue
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H 1 2 0 2 6 I N T E R I M R E S U L T S Earnings growth translated into per-share returns Normalised EPS rose 31% and headline EPS rose 50% PROFIT AFTER TAX ($M) 23.3 H1 2025 H1 2026 +58% NORMALISED NET INCOME ($M)* 28.1 H1 2025 39.3 H1 2026 +40% HEADLINE EPS (CENTS)** 1.85 H1 2025 2.79 H1 2026 +50% Per-share growth was delivered, after the increase in shares in issue 26 36.9 * Normalised Net Income excludes one-off IPO-related capital transaction costs, acquisition-related costs and IPO management compensation. ** Headline EPS is calculated on a weighted average 1,236.9m ordinary shares outstanding (H1 2025: 1,166.6m) H1 2025 EPS figures restated to account for share split F I N A N C I A L P E R F O R M A N C E
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Business growth materially outpaced funding requirements Revenue and Adjusted EBITDA grew strongly while guarantees and debt increased only marginally 27 +58.1% +44.8% +7.4% +3.6% +0.1% Revenue Adj. EBITDA Cash collateral Bank guarantees Total debt GROWTH RATE — H1 2026 (%) D I S T R I B U T E D V A L U E P E R $ O F G U A R A N T E E $38.6 from $35.5 at FY2025 TOTAL DEBT $106.9m broadly flat vs $106.8m at FY2025 NET DEBT / ADJ. EBITDA 0.20x from 0.81x at H1 2025 Business growth Funding requirements Cash collateral = margin deposits held under lien for bank guarantee facilities; guarantees are off-balance sheet. Funding vs 31 Dec 2025; growth vs H1 2025. F I N A N C I A L P E R F O R M A N C EH 1 2 0 2 6 I N T E R I M R E S U L T S Revenue and Adjusted EBITDA growth outpaced funding obligations, with materially more business supported per dollar of bank guarantee
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H1 investment and the Finergi acquisition were funded while net leverage remained at 0.20x Capital allocation prioritises growth; distributions to follow Organic investment and selective M&A remain the first calls on capital 28 CAPITAL ALLOCATION PRIORITIES MOVEMENT IN NET DEBT — H1 2026 ($M) 01 Organic growth Capex guided at c. 6% of revenue; cash collateral for bank guarantees; funding of new entities; servicing of financing 02 M&A Selective, where an acquisition supports the strategy and adds value 03 Share buybacks and dividends From residual cash once the business is funded. Share buybacks subject to share price; general repurchase authority in place $m H1 2026 Net cash from operating activities 25.2 Capital expenditure (8.3) Operating cash flow after capex 17.0 Acquisitions: Finergi (24.9) Dividends and share buybacks – Finance costs, leases and other (9.7) Movement in net debt (17.6) Net debt: 31 Dec 2025 → 30 Jun 2026 13.0 → 30.6 Net debt / annualised adjusted EBITDA 0.11x → 0.20x F I N A N C I A L P E R F O R M A N C EH 1 2 0 2 6 I N T E R I M R E S U L T S
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H 1 2 0 2 6 I N T E R I M R E S U L T S 04 Outlook and execution 29 H1 2026 update Finergi overview Financial performance Outlook and execution Q&A
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H 1 2 0 2 6 I N T E R I M R E S U L T S FY2026 growth targets updated Continued scaling, new deployments and broader proposition and distribution opportunities support the updated ranges REVENUE GROWTH 30–40% growth vs FY2025 ADJUSTED EBITDA GROWTH 30–40% growth vs FY2025 NORMALISED NET INCOME 30–40% growth vs FY2025 CAPITAL EXPENDITURE 6% As a percentage of revenues 30 O U T L O O K & E X E C U T I O N Full-year targets crystallised, with the H2 profile reflecting the known H1 developments Targets are based on current operating conditions and remain subject to foreign-exchange, regulatory and geopolitical developments across the Group’s markets
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31 H2 priorities: converting the pipeline into growth Execution is focused on deployments, propositions and new distribution rails 01 Deliver the deployment pipeline 8+ deployments expected to launch in H2, alongside continued scaling in established markets. 02 Scale and extend the proposition set Scale recent launches and progress line of credit and telco BNPL. 03 Advance new routes to customers Progress the FNB relationship and Finergi commercialisation, with further opportunities in development. H 1 2 0 2 6 I N T E R I M R E S U L T S O U T L O O K & E X E C U T I O N H2 is focused on execution across initiatives already underway, supporting the next phase of growth
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Expanding responsible access across everyday financial needs Individuals Embedded access to credit through existing digital channels — helping customers manage everyday liquidity needs. Merchants Working capital linked to trading activity — supporting merchants with access to credit within the ecosystems where they already operate. Essential services Extending embedded credit into prepaid utilities — Finergi pre-commercial pilots are progressing towards commercialisation. Precision decisioning and embedded distribution turn potential into financial progress Embedded credit for individuals, merchants and essential services through ecosystems they already use W H A T T H I S D E L I V E R S $29bn+ Distributed to customers since inception 860m+ Accessible user base >98% Credit repayment rate R E S P O N S I B L E A C C E S S Affordability assessment Dynamic eligibility and limits Active portfolio monitoring Continuous model validation 32 Our purpose: turning potential into financial progress H 1 2 0 2 6 I N T E R I M R E S U L T S O U T L O O K & E X E C U T I O N
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Together, these strengths make the model harder to replicate and stronger as it scales H 1 2 0 2 6 I N T E R I M R E S U L T S O U T L O O K & E X E C U T I O N Six reinforcing strengths that set Optasia apart A differentiated combination of underwriting, precision intelligence, configurable technology, operating depth and financial capacity 01 Partner enablement and underwriting We underwrite the credit risk and power the proposition, while partners retain the customer relationship. 02 Precision intelligence Advanced credit scoring and reinforcement learning continuously sharpen affordability and credit decisions. 03 Configurable, evolving platform One platform configures multiple propositions and continuously evolves with new data, products and use cases. 04 End-to-end operating capability Integrated capability from decisioning and technology integration through servicing, portfolio management and recovery. 05 Proven execution 14 years of operating experience across 65 active deployments and complex market environments. 06 Financial capacity The balance-sheet strength and cash generation to support partner programmes and fund continued growth. 33
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SEEING MORE. Turning potential into financial progress R E S P O N S I B L E B Y D E S I G N · P O W E R E D B Y P R E C I S I O N · D E L I V E R E D A T S C A L E Seeing more signals Real-time intelligence Seeing more potential People and businesses made visible Seeing more progress Responsible access at scale 34
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H 1 2 0 2 6 I N T E R I M R E S U L T S Q&A Investor relations · ir@optasia.com 35 H1 2026 update Finergi overview Financial performance Outlook and execution Q&A
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H 1 2 0 2 6 I N T E R I M R E S U L T S D I S C L A I M E R Disclaimer This presentation has been prepared by, and is subject to the copyright of, Optasia Limited ("Optasia"). No part of this presentation may be reproduced, transmitted, stored in a retrieval system or translated in any other language in any form, by any means without the prior written consent of Optasia. The information contained in this presentation has been furnished to the intended recipient solely for such recipient’s information. This presentation has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. This information has not been independently verified. Norepresentation or warranty is made as to accuracy, completeness or reliability of the information contained herein, and no reliance should be placed thereon. It is incumbent upon investors and potential investors to seek independent professional advice based on their specific investment objectives, financial situation or particular needs. The information contained and any opinions expressed in this presentation are subject to change at any time. The presentation contains certain Non-IFRS Financial Measures presented to provide investors with additional financial information that is regularly reviewed by management. The Non-IFRS Financial Measures should not be viewed in isolation or as an alternative to the equivalent IFRS measure and should be considered in conjunction with the Consolidated Financial Information prepared in accordance with IFRS. Optasia accepts no responsibility or liability whatsoever in relation to the information contained in this presentation. Further information is available on request. Forward-looking statements This presentation contains forward-looking statements, including statements regarding Optasia’s financial position, business strategy, guidance, plans and objectives for future operations. These statements may be identified by words such as "believe", "expect", "anticipate", "intend", "estimate", "target", "plan", "will", "may" and similar expressions. Forward-looking statements are not statements of historical fact and are based on the current beliefs, assumptions and expectations of management, which involve known and unknown risks, uncertainties and other factors, many of which are outside Optasia’s control. Actual results, performance or achievements may differ materially from those expressed or implied by such statements. Investors should not place undue reliance on forward-looking statements, which speak only as at the date of this presentation. Optasia undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law or the JSE Listings Requirements. No statement in this presentation is intended to be, or should be construed as, a profit forecast or profit estimate, and no statement should be interpreted to mean that earnings per share will necessarily be greater than those for any preceding period. 36
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H 1 2 0 2 6 I N T E R I M R E S U L T S APPENDIX 37
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A P P E N D I X Summary of key financial and operating metrics M e t r i c ( $ m u n l e s s s t a t e d ) H 1 2 0 2 6 H 1 2 0 2 5 v s H 1 2 0 2 5 F Y 2 0 2 5 P E R F O R M A N C E Revenue 185.3 117.2 +58% 265.4 Adjusted EBITDA 77.9 53.8 +45% 114.5 Adjusted EBITDA margin 42.0% 45.9% −3.9pp 43.2% Profit for the period 36.9 23.3 +58% 43.1 Normalised net income 39.3 28.1 +40% 57.8 C A S H & C A P I T A L Adjusted free cash flow (Adj. FCF) 32.7 13.1 +150% 44.9 Adj. FCF conversion 41.9% 24.3% +17.6pp 39.2% Capex 8.3 6.0 +37% 12.2 Net working capital 133.1 93.2 +43% 107.2 Net debt / adj. EBITDA 0.20x 0.81x −0.61x 0.11x V O L U M E & C R E D I T Q U A L I T Y Distributed value ($bn) 3.5 2.4 +46% 5.5 Take rate 5.3% 4.9% +0.4pp 4.8% Default rate 1.3% 1.1% +0.2pp 1.2% Cover ratio 4.0x 4.3x −0.3x 4.1x Strong H1 performance across growth, cash generation, capital structure and credit quality H 1 2 0 2 6 I N T E R I M R E S U L T S 38
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Efficient capital structure supports scalable funding * Excludes monthly loan pool for three partners Funding capacity of $311m, with around 66% provided off balance sheet by partners 75 114 87 90.2 107 106.9 Dec 2025 Jun 2026 F U ND ING M IX ($M ) S O U RC E O F F U ND ING T Y P E U S E O F P RO C EED S $269m $311m Bank funded term loan and RCF On balance sheet General corporate and working capital Optasia-provided bank guarantee Off balance sheet Covers the first-loss provision underwritten by Optasia for distribution and funding partners on ACS and MFS products Financial partner liquidity facility* Off balance sheet MFS funding pool for MNO 39 A P P E N D I XH 1 2 0 2 6 I N T E R I M R E S U L T S
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EPS reconciliation Reconciliation of profit for the period to headline and normalised earnings per share Headline EPS of 2.79 cents, up 50%, with normalised EPS of 2.98 cents, up 31% 40 ($m unless stated) H1 2026 H1 2025 % change Profit for the period 36.9 23.3 58.3% Profit attributable to owners of the group 34.5 21.6 59.4% Headline earnings 34.5 21.6 59.4% Headline EPS (cents) 2.79 1.85 50.3% Capital transaction costs 1.4 1.8 (21.9%) Acquisition-related costs 0.2 – n/a IPO management compensation 0.8 3.0 (73.3%) Normalised net income 39.3 28.1 39.8% Normalised net income attributable to owners of the group 36.9 26.4 39.5% Normalised EPS (cents) 2.98 2.27 31.5% Weighted average ordinary shares outstanding (m) 1,236.9 1,166.6 6.0% A P P E N D I XH 1 2 0 2 6 I N T E R I M R E S U L T S
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H 1 2 0 2 6 I N T E R I M R E S U L T S A P P E N D I X Investor calendar and contact 14 S EP 2026 H1 2026 results publication 16 –17 S EP 2026 RMB Morgan Stanley Big Five / Off-Piste Conference C A P E T O W N 12 –13 NO V 2026 Investec CEO Conference S O U T H A F R I C A M ID-M A R 2027 FY2026 results publication Georgina McCooke, Director of Investor Relations · ir@optasia.com 41