HUMM GROUP LIMITED — AGM Information 2023

Nov 15, 2023

ANNUAL GENERAL MEETING

Andrew Abercrombie | Chairman Stuart Grimshaw | CEO 16 November 2023

Authorised for release by the humm group Board of Directors humm Group Limited, ACN 122 574 583 Level 1, 121 Harrington Street, The Rocks, Sydney NSW 2000

FY23 AGM // NOVEMBER 2023

WELCOME

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FY23 AGM // NOVEMBER 2023

CHAIRMAN’S ADDRESS ANDREW ABERCROMBIE

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FY23 AGM // NOVEMBER 2023

CEO’S ADDRESS STUART GRIMSHAW

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FY23 AGM // NOVEMBER 2023

FY23 HIGHLIGHTS

CREATING SHAREHOLDER VALUE

$75.0m Normalised cash profit (after tax) in FY23 2% down on pcp 2.0c 1.0c fully frankedfinal dividend

$10.0m share buy-back[1]

ROBUST CREDIT PERFORMANCE

1.8% Net Loss/ANR[2] Historical low for the Group down from 2.4% in FY22

‘LARGER’ COST OUT STRONG BALANCE SHEET TRANSACTION VALUE EXECUTION POSITION FINANCIER $4.2b in receivables +28% on pcp $112m of unrestricted cash $18.6m costs removed in FY23

<1% in lower transaction value ~$1.0b warehouse headroom Point of Sale Payment Plans (“PosPP”)

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COMMERCIAL HIGHLIGHTS

CONSUMER HIGHLIGHTS

• 20% growth in Normalised cash profit (after tax), 57% increase in receivables over pcp

• Operating expenses increased by 1.6%, reinforcing the business operating leverage

• Net loss to ANR of 0.5%

• Low broker, sector and geographical concentration, driving record low credit losses across the portfolio

• Market leader on ‘speed to yes’ and ‘speed to settlement’

• Repositioned business to primarily focus on large transactions by closing noncore products. FY23 volumes totalling $2.4b

• Focused on capital allocation and unit economics across products, vertical and merchants

• Executed first phase of the cost transformation of Consumer, $18.6m of cost out

• Continued strong credit underwriting with Net Loss to ANR of 3.5%

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1. As approved by the Board to be completed during FY24, subject to market conditions.

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1. ANR is Average Net Receivables and excludes losses relating to operational risk items including transition of collections to humm ®’s offshore collections and operations team.

FY23 AGM // NOVEMBER 2023

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NON-BANK LENDERS OVERTAKE BANKS AS PROVIDERS OF SME LENDING Equipment finance TAM[1] $45b (AU) and $8b (NZ)

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BROKER CHANNEL LOW COST OF SALE

• 73%​ of AU asset loans are​ sold through brokers

• Brokers used for their convenience​, advocacy and customer service

• 15-20k​ brokers in AU, NZ​ a growing market​

CONTINUED GROWTH FROM COMMERCIAL BUSINESS

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AU AND NZ’S LEADING PROVIDER SPEED TO DECISION AND SETTLEMENT,
OF SPECIALIST ASSET FINANCE WITH SPECIALIST OFFERING A KEY
DIFFERENTIATOR
delivered solely through the broker channel
~$100k average 4.8 years 80% 39%
loan size average of deals are of approved
loan life approved deals are automated
same day
+23% ~15,363​ ~16%​ ~91% ​
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growth in brokers deals settled​ FY23 improvement in broker
with 1+ deals processing times satisfaction
in FY23 score
TOP 3 ASSETS FINANCED EXCEPTIONAL SME EXPERIENCE
>> 24hr approval and same day
settlement leveraging NPP [2]
>> Full spectrum of lending from low doc to
full credit assessment
Transport Civil Engineering Light Commercial Vehicles >> Specialist offering for capital intensive
businesses​
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• Specialist offering for capital intensive businesses​

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1. Total Addressable Market. 2. New Payments Platform.

FY23 AGM // NOVEMBER 2023

CONSUMER BUSINESS REPOSITIONED FOR GROWTH

` hummNZ,bundll®,humm®pro in run-off BPAY turned off in 2H23 Reducedhumm‘Little things’ volume and lower losses 20% volume growth in larger transaction value products $4.0m net reduction in AU and NZ people costs $7.5m reduction in marketing $7.1m reduction in other operating costs $3.7m to re-platform core systems (duplicate costs excluded from savings above) Consumer repricing commenced and will continue into FY24 2020-22 BT competitive pricing reflected in back book yield Mix shift to Solar and Tier 1 merchants affecting yield Pricing now based off ROE targets and not volume humm‘Big things’ back to growth in Solar and Health (Dentistry and Veterinary) Expanded distribution as competition eases Return to growth in AU Cards from increased travel spend • Operating costs from suspended products largely removed • Complete exit of discontinued products • Remove unprofitable merchants, primarily in ‘Little things’ • Replatforming PosPP business to single global tech stack with expected operating and cost benefits • Technology and operating model review to improve customer experience and drive profitability • Focused on unit economics and profitable growth • Margin improvement across Health, Solar, Automotive and Home Improvement • Discontinue unprofitable merchants and relationships, where appropriate • Growth in Consumer finance receivables and income • Benefits of repricing initiatives executed in FY23 will flow through in FY24 • Co-branded distribution arrangements across Cards business FY23 FY24+ NON-CORE PRODUCTS REMOVED COST OUT INITATIVES MARGIN MANAGEMENT PROFITABLE GROWTH $18.6m in costs removed in FY23 Focus on capital allocation and unit economics Consumer repricing improving Growth in core ‘larger transaction value’ volumes and cards receivables

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FY23 AGM // NOVEMBER 2023

CAPACITY TO FUND GROWTH

WHOLESALE FUNDING AND CORPORATE DEBT FACILITIES

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Released approximately $695m of additional
6,000 funding capacity following execution of Private
4,999 Placement in August 2023
5,000
983 4,032
4,000
1,006
3,000
2,000 4,016
3,026
1,000
-
FY23 FY22
Drawn Balance Undrawn Balance
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DEBT DEALS EXECUTED IN FY23	$M
Capital markets transactions	1,059.9
Senior warehouse capacity added and extended	1,357.1
Mezzanine warehouse capacity added	132.6
Total	2,549.6

WHOLESALE FUNDING FACILITIES

• Over $1b of public asset-backed securities issuance during FY23 despite challenging funding markets, with strong support across a diverse investor base

• Warehouse funding platform materially expanded to support growth, with over $1b of new committed funding introduced

• Continued improvement in balance sheet efficiency though extension of mezzanine warehouse funding

• Diversified funding sources with committed facilities held with domestic and international banks and fund managers

• $760.7m flexicommercial Private Placement ABS transaction executed in August 2023, humm group’s largest ABS transaction to date – representing a significant funding milestone and adding increased funding capacity to support growth`

CORPORATE DEBT FACILITY

• Retired $110m syndicated revolving corporate debt facility in December 2022

• Replaced with a new $150m ‘growth’ facility which can be applied to higher growth capital requirements stemming from a growing book of receivables, chattel loans and customer loans and for working capital purposes

• Growth facility drawn to $75.7m as at 30 June 2023

CASH

• Unrestricted cash of $112m with improved capital efficiency across portfolios

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FY23 AGM // NOVEMBER 2023

EFFICIENT AND EFFECTIVE USE OF CAPITAL TO DRIVE RETURNS

STRONG AND STABLE BALANCE SHEET

FULLY FRANKED PRE-TAX DIVIDEND RETURN OF 6.2%[1]

CAPITAL INITIATIVES

Receivables grown to $4.2b in FY23

Capital structure has been optimised to include increased mezzanine funding

Warehouse capacity in place to support FY24 growth targets

Fully franked FY23 dividends totaling 2.0cps

` >>Expect to pay dividends of between 30% – 40% of Free Cash Flow[2] >>$38.1m in franking credits at 30 June 2023

Board approved share buy-back of up to $10m in ordinary share capital over the next 12 months[3] >>Deliver marginal shareholder returns that remain above the cost of capital

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1.Share price of 46 cents per share. 2. Free Cash Flow is defined as Normalised cash profit (after tax) adjusted for future capex and working capital requirements. 3. Subject to market conditions.

FY23 AGM // NOVEMBER 2023

Q1FY24 UPDATE

CONTINUED VOLUME AND RECEIVABLE GROWTH

8% growth in volumes across continuing products compared to pcp

Consistent volumes in Commercial with receivables up 46% on pcp

9% growth in Cards volumes across AU and NZ driving 6% growth in receivables balances on pcp

30% growth in PosPP volumes across our continuing products in humm AU ‘Big things’, Canada and Ireland driving 15% growth in receivables balances on pcp

RECORD LOW LOSS RATES ACROSS THE GROUP

10 bps reduction in net loss to ANR to 1.6% compared to pcp across the total portfolio

30 bps reduction in net loss to ANR to 0.4% compared to pcp for ` Commercial AU and NZ

3.5% net loss to ANR for Cards AU and NZ in line with pcp but expect to improve into FY24

60bps increase in net loss to ANR in humm AU (‘Big things’) to 3.5% due to seasonality impacts on the portfolio, with targeted credit initiatives to reduce losses over the course of FY24

RECEIVABLES DRIVING NET INCOME[1] GROWTH

16% growth in net income for Commercial compared to pcp

3% growth in net income for Cards business across AU and NZ

10% reduction in net income from PosPP, the result of higher funding costs and mix to better credit but lower yield Solar and Health (with the benefits of lower losses to come in future periods)

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1. Net income represents net interest income (after funding costs) plus fee and other income.

FY23 AGM // NOVEMBER 2023

COMPETITIVE ADVANTAGE AND FY24+ PRIORITIES

• COMPETITIVE ADVANTAGE

• Strong franchise with excellent brands and track record of growth

• • Origination and management of the customer via merchant/broker network and direct

• Capital management and funding relationships

• Superior risk management delivering consistently lower net loss rates

• • Financial discipline

FY24+ PRIORITIES

COMMERCIAL

• Technology investment to retain leading position on “speed to yes” and “speed to settlement” and improve broker and customer experience in NZ business

• • Continued focus on credit management to target low loss rates across commercial book

• Expanding business to focus on new asset classes

CONSUMER

GROUP

• Discontinue unprofitable merchant • •

• relationships to improve returns

• • Replatforming to a single global tech stack ` •

• to improve stability and deliver scalable growth

• • • New regulated personal lending products

• • • Expanded card offerings through enhanced white label and distribution arrangements •

• Focus on cost management

• ROE and Yield focus, and not just volume growth

  • Technology led initiatives to deliver improved operating and service model Optimise funding sources

Effective and improved capital efficiency and allocation Inorganic growth opportunities to deliver capability and achieve scale

• Global expansion with growth in Canada and Ireland

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FY23 AGM // NOVEMBER 2023

OUTLOOK

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PROFITABLE STRONG CAPITAL POSITIVE CREDIT GROWTH AND BALANCE PERFORMANCE WITH FY23 SHEET POSITION COMMERCIAL VOLUMES DELIVERING “LOCKED IN NII[1] ” FOR FY24

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EXECUTION OF CAPITAL INITIATIVES COST SAVINGS TO IMPROVE SHAREHOLDER VALUE

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1. Net interest income. 12

FY23 AGM // NOVEMBER 2023

CEO’S ADDRESS IN CLOSING

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FY23 AGM // NOVEMBER 2023

ITEMS OF BUSINESS

01 | Consideration of Reports 02 | Re-election of Director, Mr Andrew Abercrombie 03 | Adoption of the 2023 Remuneration Report 04 | Grant of Performance Rights to Mr Stuart Grimshaw

05 | Amendment of Constitution

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FY23 AGM // NOVEMBER 2023

Item 1.

Consideration of Reports

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To receive and consider the Company’s Financial Report, Directors’ Report and the Independent Auditor’s Report for the year ended 30 June 2023.

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FY23 AGM // NOVEMBER 2023

Item 2.

Re-election of Director, Mr Andrew Abercrombie

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

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That Mr Andrew Abercrombie, a Director of humm Group Limited who retires at the close of the AGM in accordance with Article 10.3(c) of the Constitution, and being eligible, and offering himself for re-election, is re-elected as a Director of humm Group Limited .

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FY23 AGM // NOVEMBER 2023

Item 2.

Re-election of Director, Mr Andrew Abercrombie

Proxy numbers

For	—	217,567,702	96.46%
Against	—	6,684,019	2.96%
Open	—	1,299,856	0.58%
Abstain	—	27,293,731

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FY23 AGM // NOVEMBER 2023

Item 3.

Adoption of Remuneration Report

To consider and, if thought fit, to pass the following non-binding resolution of the Company:

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That, for the purposes of section 250R(2) of the Corporations Act 2001 (Cth) , the Company’s Remuneration Report for the financial year ended 30 June 2023, as set out in the Annual Report, be adopted.

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FY23 AGM // NOVEMBER 2023

Item 3.

Adoption of Remuneration Report

Proxy numbers

For	—	98,133,088	79.37%
Against	—	25,016,953	20.23%
Open	—	493,324	0.40%
Abstain	—	220,548

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FY23 AGM // NOVEMBER 2023

Item 4.

Grant of Performance Rights to Mr Stuart Grimshaw

To consider and, if thought fit, to pass the following ordinary resolution of the Company:

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That, for the purposes of ASX Listing Rule 10.14, sections 200B and 200E of the Corporations Act 2001 (Cth) and for all other purposes, approval is given for the Company to grant to the Company's Chief Executive Officer and Managing Director, Mr Stuart Grimshaw, short-term incentive performance rights and long-term incentive performance rights (and the issue or acquisition and transfer of ordinary fully paid shares in the Company to him upon the vesting of such performance rights) on the terms set out in the Explanatory Memorandum, and to provide to Mr Grimshaw any or all of the benefits (including on cessation of employment) described in the Explanatory Memorandum.

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FY23 AGM // NOVEMBER 2023

Item 4.

Grant of Performance Rights to Mr Stuart Grimshaw

Proxy numbers

For	—	196,201,563	77.69%
Against	—	55,050,312	21.80%
Open	—	1,291,489	0.51%
Abstain	—	301,944

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FY23 AGM // NOVEMBER 2023

Item 5.

Amendment of Constitution

To consider and, if thought fit, to pass the following special resolution of the Company:

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That, for the purposes of section 136(2) of the Corporations Act 2001 (Cth) and for all other purposes, the Constitution of the Company be amended in the form tabled at the Meeting and signed by the Chairman for identification.

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FY23 AGM // NOVEMBER 2023

Item 5.

Amendment of Constitution

Proxy numbers

For	—	165,358,760	65.76%
Against	—	84,781,603	33.71%
Open	—	1,327,197	0.53%
Abstain	—	1,368,816

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THANK YOU

FY23 AGM // NOVEMBER 2023

DISCLAIMER

No Recommendation, Offer, Invitation or Advice

This presentation is not a financial product or investment advice or recommendation, offer or invitation by any person or to any person to sell or purchase securities in humm group in any jurisdiction. This presentation contains general information about humm group only in summary form and does not take into account the investment objectives, financial situation and particular needs of individual investors. The information in this presentation does not purport to be complete. Investors should make their own independent assessment of the information in this presentation and obtain their own independent advice from a qualified financial adviser having regard to their objectives, financial situation and needs before taking any action. This presentation should be read in conjunction with humm group’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange.

Exclusion of Representations or Warranties

The information contained in this presentation may include information derived from publicly available sources that has not been independently verified. No representation or warranty, express or implied, is made as to the accuracy, completeness, reliability or adequacy of any statements, estimates, opinions or other information, or the reasonableness of any assumption or other statement, contained in this presentation. Nor is any representation or warranty, express or implied, given as to the accuracy, completeness, likelihood of achievement or reasonableness of any forecasts, prospective statements or returns contained in this presentation. Such forecasts, prospective statements or returns are by their nature subject to significant uncertainties and contingencies many of which are outside the control of humm group. Any such forecast, prospective statement or return has been based on current expectations about future events and is subject to risks, uncertainties and assumptions that could cause actual results to differ materially from the expectations described. Readers are cautioned not to place undue reliance on forward looking statements. Actual results or performance may vary from those expressed in, or implied by, any forward looking statements. humm group does not undertake to update any forward looking statements contained in this presentation. To the maximum extent permitted by law, humm group and its related bodies corporate, directors, officers, employees, advisers and agents disclaim all liability and responsibility (including without limitation any liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use or reliance on

anything contained in, or omitted from, this presentation.

Jurisdiction

The distribution of this presentation including in jurisdictions outside Australia, may be restricted by law. Any person who receives this presentation must seek advice on and observe any such restrictions. This document is not, and does not constitute, an offer to sell or the solicitation, invitation or recommendation to purchase any securities and neither this document nor anything contained herein shall form the basis of any contract or commitment. In particular, the document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities of humm group have not been, and will not, be registered under the US Securities Act of 1933 (as amended) (“Securities Act”), or the securities laws of any state of the United States. Each institution that reviews the document that is in the United States, or that is acting for the account or benefit of a person in the United States, will be deemed to represent that each such institution or person is a “qualified institutional buyer” within the meaning of Rule 144A of the Securities Act of 1933, and to acknowledge and agree that it will not forward or deliver this document, electronically or otherwise, to any other person. No securities may be offered, sold or otherwise transferred except in compliance with the registration requirements of applicable securities laws or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of applicable securities laws.

Investment Risk

An investment in humm group securities is subject to investment and other known and unknown risks, some of which are beyond the control of humm group. humm group does not guarantee any particular rate of return or the performance of humm group securities. All amounts are in Australian dollars unless otherwise indicated.

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