HUMM GROUP LIMITED — AGM Information 2024

Nov 27, 2024

Andrew Abercrombie | Chairman Stuart Grimshaw | CEO

28 November 2024

FY24 AGM // NOVEMBER 2024

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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2

01

CHAIRMAN’S ADDRESS Andrew Abercrombie

02

CEO’S ADDRESS Stuart Grimshaw

FY24 AGM // NOVEMBER 2024

DELIVERED BY STRONG HALF-ON-HALF PERFORMANCE

01 02 03 04 18% loan $13.6m Net interest Credit losses growth in 2H24 margin maintained at delivered cost savings stabilised historic lows $5.0b in delivered in 2H24 of 1.8% receivables at 5.5%

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FY24 AGM // NOVEMBER 2024

FY24 HIGHLIGHTS

BALANCE SHEET GROWTH

$5.0b 18% increase in receivables

$3.8b

6% increase in volumes from continuing products

$125.1m

in Unrestricted cash

STRONG NET OPERATING INCOME

5.5%

NIM[2] stabilising in 2H24 June 2024 Exit NIM[2 ] of 5.5%

1.8%

Group Net Loss/ANR[1] Maintained at low level from prior year

11.6%

Gross Yield[3] improved by 50bps

IMPROVING COST EFFICIENCY

$13.6m

Costs removed in 2H24 offsetting inflation and allowing for investment in front office growth

$4.9m

Reduction of origination costs in FY24

780bps

Reduction in 2H24 cost to income ratio from 62.0% in FY23 to 53.2% for 2H24

DRIVING SHAREHOLDER VALUE

$48.3m

Cash profit (after tax) removes $12.3m of “material one off items” that were previously considered normalisation adjustments

2.0c

declared dividend for the year following a fully franked final dividend of 1.25 cents per share

$60.6m

Normalised cash profit (after tax) in FY24. $7.1m Statutory profit (after tax) up 145% on PCP

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1. ANR is Average Net Receivables and excludes losses relating to operational risk items. 2. NIM is net interest income as percentage of ANR. 3. Gross Yield is interest income as percentage of ANR.

FY24 AGM // NOVEMBER 2024

STRONG MOMENTUM IN FLEXI COMMERCIAL

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COMMERCIAL AU AND NZ: VOLUMES AND LOANS AND ADVANCES
900
$820m 850
$761m $773m 800
$745m
750
$663m 700
$2,988m
$2,702m 650
$2,380m
$1,512m $1,953m 600
550
500
2H22 1H23 2H23 1H24 2H24
Closing loans and advances Volumes
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WEIGHTED AVERAGE CREDIT RISK RATING[1]

Credit worthiness rated from 1 (Highest) to 10 (Lowest)

IMPROVED CREDIT QUALITY

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ASSET CATEGORY
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SECTOR CONCENTRATION
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STATE CONCENTRATION

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DIVERSE CUSTOMER BASE

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1. Secured.

FY24 AGM // NOVEMBER 2024

CONSUMER BUSINESS IMPROVING

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CONSUMER NZ CARDS AU HUMM AU
GROWTH IN RECEIVABLES AND YIELD [1] HIGHER PRODUCT YIELD [1] EVOLUTION OF THE VOLUME MIX
25.0% 500
21.0% 20.6% 650 19.6%
20.5% 20.0% 20.1% 630 20.0% 17.9% 18.6% 450
20.0% 610 400
15.0%
19.5% 590
350
19.0% 570
10.0%
18.5% 550 $391m $407m $407m 300
18.0% $612m 530 5.0% 250
17.5% $595m 510
$572m
0.0% 200
17.0% 490
16.5% 470 FY22F22 FY23F24 FY24F23 •
16.0% 450 humm90 Receivables Cards AU Product Yield
FY22 FY23 FY24
Receivables Product Yield • Solar private placement executed in March24 delivers
• Revolve rates [2] improved from 56.0% to 58.5% lower funding costs.
• Revolve rates [2] improved by 280bps to 64.1% in 2H24. in 2H24. • Lower net loss to ANR of 3.4% in 2H24, down by 130bps
• Net loss to ANR up 10bps for the year. • Lower net loss to ANR of 4.0% in 2H24, down by 30bps half-on-half.
half-on-half.
• 2H24 Normalised profit (after tax) of $8.8m, • 2H24 Normalised profit (after tax) of $1.8m, down • 2H24 Normalised profit (after tax) of $0.8m, improved
up 13% half-on-half. from Normalised loss (after tax) of $2.5m in 1H24.
on 1H24 following decision to slow growth while rebuilding
the business.
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• Optimising profitability with focus on unit economics by product, geography and merchants.

• FY25+ PRIORITIES • Focus on cost management to fund transformation and investment for growth. • New regulated hybrid loan product to be launched in 1H25.

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1. Yield represents Product Yield and is calculated as the sum of Interest Income and Fee and Other Income, divided by Average Net Receivables. 2. Revolve rates represents percent of interest-bearing balances.

FY24 AGM // NOVEMBER 2024

DIVERSIFIED AND DIFFERENTIATED FUNDING PLATFORM

UNLOCKS GROWTH RELATIVE TO COMPETITORS

• Leading global and local banks and investors.

• Diversified funding platform with scale for growth.

• Issuing experience across a range of economic environments with sophisticated credit and loan performance history.

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IMPROVED CAPITAL EFFICIENCY TO FUND GROWTH
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$5.0b
$2.7b
23.2%
19.4%
17.1%
13.5%
10.9%
FY20 FY21 FY22 FY23 FY24
Capital efficiency^1 Net Receivables
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STRATEGIC OPPORTUNITY AS PRIVATE CREDIT EXPANDS GLOBALLY

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STRATEGIC OPPORTUNITY AS PRIVATE CREDIT EXPANDS GLOBALLY
Recent growth trajectory Forecast $2.3t
$1.4t
$848b 2.7x
$517b 1.7x
$315b
2010 2015 2020 2023 2027
Private Credit Market Size (USD) SOURCE: Preqin.
New funding platform provides exposure to growing segment of credit market.
$12.8M INCREASE IN UNRESTRICTED CASH BALANCE
Increase in unrestricted cash which incorporated a $15.2m paydown in the
corporate ‘growth’ facility and $16.0m used to purchase shares on issue via
market buy-back and share plan.
$125.1m
$107.6m $112.7m $112.3m
FY21 FY22 FY23 FY24
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1. Capital efficiency is calculated as statutory equity/tangible assets.

FY24 AGM // NOVEMBER 2024

HUMM STRATEGY UPDATE

Our vision is to empower our customers and channel partners to achieve their goals sooner and support businesses as they grow. We find ways to say yes quickly.

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`
Unified strategy Simplifying Modernising
and purpose operations technology
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10

FY24 AGM // NOVEMBER 2024

FY25+ GROWTH DRIVERS

COMMERCIAL FLEXICOMMERCIAL CLOSING RECEIVABLES

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Continued volume and receivables growth from:

• Expanding offering to repeat customers with higher exposures.

• Investing in new geographies.

• Increasing focus on agriculture, medical and other sectors.

• Potential inorganic opportunities in new sectors that leverage our current strength in the broker channel.

Diversified funding platform provides capacity for future growth

CONSUMER RETURN TO PROFIT IN CONSUMER BUSINESS IN 2H24

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- Repositioning the consumer business for growth via:

• Launch of regulated hybrid loan product in humm AU in 1H25, delivering a tailored offering to new and existing merchants.

• Enhance Q brand to leverage further opportunities in New Zealand market and improve customer value proposition.

• Profitable growth in international businesses.

Investment in technology and platforms to deliver better customer and merchant experiences

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FY24 AGM // NOVEMBER 2024

Q1FY25 UPDATE

flexi commerical Commercial losses Successful sale Continued Offshore operations continues to grow and arrears of $500m investment in our provide opportunities market share in a performing in line receivables to Consumer platforms for growth. constrained market as it with expectation MA Financial – to improve the Ireland business looks to grow its bank expected impact of customer and continues to deliver Along with all grade flexipremium $2-3m post tax in merchant experience strong returns in this industry players we portfolio 2H25 as capital along with cost period are seeing small redeployed via ROE driving efficiency in pockets of financial Canada behind accretive actions our operations stress in Victoria expectations but closely monitored to ensure success

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ITEMS OF BUSINESS

03

01 | Consideration of Reports

02 | Election of Director, Mr Andrew Darbyshire 03 | Adoption of 2024 Remuneration Report

FY24 AGM // NOVEMBER 2024

ITEM 1.

Consideration of Reports

To receive and consider the Company’s Financial Report, Directors’ Report and the Independent Auditor’s Report for the year ended 30 June 2024.

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FY24 AGM // NOVEMBER 2024

ITEM 2.

Election of Director, Mr Andrew Darbyshire To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

That, Mr Andrew Darbyshire, who was appointed as a Director of the Company on 21 October 2024, and being eligible, offers himself for election.

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FY24 AGM // NOVEMBER 2024

ITEM 2. Election of Director, Mr Andrew Darbyshire

Proxy numbers
For	256,425,593	99.72%
Against	328,973	0.13%
Open	395,869	0.15%
Abstain	43,994	-

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FY24 AGM // NOVEMBER 2024

ITEM 3.

Adoption of Remuneration Report

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

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 2024, as set out in the Annual Report, be adopted.

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FY24 AGM // NOVEMBER 2024

ITEM 3. Adoption of Remuneration Report

Proxy numbers
For	120,589,822	95.77%
Against	408,369	0.32%
Open	4,925,532	3.91%
Abstain	313,706	-

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THANK YOU