HUMM GROUP LIMITED — Board/Management Information 2023

May 7, 2023

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8 May 2023

humm announces CEO transition group

humm group limited (ASX: HUM) (“ humm group” or the “Company”) advises that Rebecca James has notified the Board of her intention to stand down as Chief Executive Officer of humm group. After almost five years leading humm , Ms James is leaving to take up a new job opportunity in New Zealand, in order to be closer to family.

As a result, humm group is pleased to announce that it has appointed Stuart Grimshaw, a current non-Executive Director of the Board, to the role of Managing Director and Chief Executive Officer, effective 1 June 2023.

Mr Grimshaw has been a member of the humm group Board since July 2022, bringing over 35 years of experience in the financial services sector. With an impressive track record including as former Chief Executive Officer of the Bank of Queensland from 2012 to 2014 and as Executive Chairman (and then Managing Director and Chief Executive Officer) of EZCorp he is ideally positioned to lead humm group in its next phase of growth and development.

Ms James will work with the Board to transition her executive responsibilities in an orderly manner. She will remain in her role until 31 May 2023 and will be available to support the Board, Mr Grimshaw and the team as needed until 30 June 2023.

Andrew Abercrombie, Chairman of humm group said:

“On behalf of the Board I would like to sincerely thank Rebecca for her significant contribution to the business. During her tenure she helped the company relaunch its point-of-sale instalment offering, cementing its place as the leader in bigger ticket purchases. She has also been responsible for re-orientating our Commercial business to focus on SME lending through the broker channel – which is now growing volumes at over 50% year on year.

“It would be remiss of me not to emphasise that Rebecca’s resilience has guided humm through a period of unprecedented challenge and I am personally very grateful to her for her leadership and her strength of character. From inherited credit difficulties, to the arrival of extensive competition, to pandemic lock-downs curtailing point of sale and impacting our travel vertical and working through an incredibly disruptive and failed sale of the consumer business, Rebecca has managed a consistently profitable business.

“Operationally she was responsible for ensuring the company successfully navigated COVID and the constantly evolving regulatory environment, rebranding the company and creating an inclusive and performance driven culture.

“Rebecca leaves humm in a very strong position, enjoying growth in volumes and profit across both its commercial and consumer businesses.

humm group limited ASX: HUM ACN 122 574 583 Level 1, 121 Harrington St, The Rocks, NSW 2000 Tel.+61-2-8905-2000

“I’m delighted that someone of Stuart’s pedigree has agreed to become the new CEO of humm group. Stuart brings a wealth of financial services experience and expertise to the role, and we are confident that he will continue to drive the company’s success in the years ahead. On behalf of the Board I look forward to working closely with Stuart as we continue to pursue profitable growth across the business and deliver significant value to our shareholders.”

Rebecca James said:

“When I joined the company in 2018, I laid out a strategic vision to digitize humm , remove unnecessary and duplicate costs and grow a strong consumer and commercial business. I am delighted to have achieved those goals and I am proud to say that today we have the swiftest decision and settlement timeframes in the industry and a market-leading credit capability. I would like to thank the entire humm group team for their continued focus and dedication and I look forward to watching their continued success.”

Stuart Grimshaw said:

“I am excited to step into the role of CEO at humm group and build on the strong foundation laid by Rebecca. With the support of the board and the talented team at humm group, I am confident that we can continue to drive profitable growth and success for the company and its shareholders.”

Authorised for release by the humm group Chairman.

Investor Contact Media Contact David Grevler Roger Newby Head of FP&A and Investor Relations Domestique Consulting +61 414 488 042 +61 401 278 906

ABOUT HUMM GROUP

humm group provides easy instalment plans which enable businesses and consumers to make bigger purchases. humm group facilitates purchases for over 2.7 million customers and operates in Australia, New Zealand, Ireland, Canada and the United Kingdom.

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Annexure – Employment Contract material terms

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A summary of Mr Stuart Grimshaw’s executive employment contract is set out below

Position	ManagingDirector and Chief Executive Officer
Appointment	1 June 2023
Fixed remuneration package	$925,292 per annum inclusive of statutory superannuationcontributions. The fixed remuneration package isreviewable in December 2023 and then in July annuallythereafter.
Short term incentive	Target STI earning opportunity is 30% of FixedRemuneration with a maximum cap of 55% of FixedRemuneration and is subject to the Company’s STI planrules.
Long term incentive	Subject to shareholder approval and continuedemployment:•For the 2024 Financial Yearhummgroup shares totallingan amount equal to $3,500,000 will be awarded andsubject to pro-rata vesting over a 5-year period in equaltranches, subject to personal and corporate hurdlesdetermined in respect of each tranche.•For the 2024 financial year, an invitation to participate inthe Company’s LTI plan to an amount equal to$3,500,000.•For future financial years an invitation to participate in theCompany’s LTI plan to an amount equal to 150% of FixedRemuneration.
Notice period	A notice period of 6 months applies to both the Companyand the executive. There is no notice period in respect ofserious misconduct.
Termination payment	6 months fixed remuneration if the Company gives notice.The treatment of STI and LTI benefits on termination will bedetermined in accordance with the terms of each plan.No payment will be made on cessation of employment inexcess of the amount lawfully payable under Part 20.2 of theCorporations Act 2001 without shareholder approval.
Post employment restraint	A 6 monthpost employment restraintprovision applies.
Sign on bonus	$150,000

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