HUMM GROUP LIMITED — Capital/Financing Update 2022

Feb 17, 2022

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CONSUMER FINANCE

SALE OF HUMM GROUP CONSUMER FINANCE BUSINESS

SALE OF CONSUMER BUSINESS TO LATITUDE

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Today we are announcing the sale of humm group’s consumer finance business (HCF) to Latitude. HCF comprises the BNPL, instalment and credit card operations of humm group.

humm group will retain full ownership of humm group’s strongly performing commercial business and remain as a standalone listed entity.

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SALE OF HUMM GROUP CONSUMER FINANCE BUSINESS

SALE OF CONSUMER BUSINESS TO LATITUDE

Overview of transaction

Aggregate consideration of A$335 million representing 13.4x Cash NPAT[1] and 1.8x P/NTA[2] CONSIDERATION FOR 150 million Latitude shares[3] HCF plus $35 million in cash with proceeds to be fully distributed to HUM shareholders

COMMERCIAL

HUM will continue to fully own HUM’s strongly performing Commercial business, flexicommercial , and will remain an ASX-listed company

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RATIONALE FOR COMBINATION

Combination of HCF with Latitude will create a leading and profitable pure-play consumer finance business

NEXT STEPS

HUM shareholders will be asked to vote on the HCF transaction and associated resolutions at a date to be determined

1. Based on HCF 1H22 Cash NPAT of $12.5 million annualised. 2. Based on NTA of $190 million as at 31 December 2021 3. Subject to Latitude shareholder approval. Customary completion adjustments apply. Refer Note 2 of ASX announcement

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SALE OF HUMM GROUP CONSUMER FINANCE BUSINESS

STRATEGIC RATIONALE FOR HCF

Accelerating the growth of HCF as part of Latitude

Pure play consumer finance Stronger Logical owner business competitive position of HCF More significantly sized and profitable pure Build further on HCF’s track record of HCFwill become Latitude’s BNPL brand, play consumer finance company able to award-winning products and services as building on HUM’s investments in brand, compete at scale part of a larger, profitable company product and customer experience ` Accelerated execution Enhanced partner Compelling proposition for of strategy proposition shareholders Compelling valuation for HCF, combined Access to additional capital to accelerate Stronger value proposition for merchants, with the opportunity to participate in the domestic and international market share retailers and customer partners benefits and synergies arising from the growth combination

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SALE OF HUMM GROUP CONSUMER FINANCE BUSINESS

COMPELLING VALUE PROPOSITION

Latitude has offered an aggregate consideration of $335 million for HCF[4]

As consideration for HCF Latitude has offered:

• 150 million Latitude shares[5]

• $35 million in cash

• HUM shareholders will receive approximately $0.68 per share, consisting of 0.30 Latitude shares and $0.07 cash

• By receiving Latitude shares as consideration, HUM shareholders could further benefit from any potential enhanced scale and efficiencies of Latitude’s enlarged consumer finance platform

• HUM shareholders will retain full ownership of the flexicommercial business, which will continue as a well capitalised ASX-listed company

HUM intends to distribute the entire HCF consideration of 150 million Latitude shares and $35 million in cash to shareholders

After completing the sale of HCFand distributing the share and cash consideration to shareholders, HUM expects that it will have unrestricted cash, which will be first applied to the retirement of its perpetual note (c. $55 million est. as at 30 June 2022). Thereafter, the HUM Board will take a disciplined approach in allocating the remaining unrestricted cash between investing further in the accelerated growth of the Commercial business and capital management initiatives

1. Assuming a Latitude share price of $2 per share. 5. Subject to Latitude shareholder approval. Refer note 2 ASX announcement for further details.

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SALE OF HUMM GROUP CONSUMER FINANCE BUSINESS

POSITIONING OF HUMMGROUP COMMERCIAL

ANZ’s leading provider of specialist asset finance with over $1 billion in receivables

1. 2. 3. 4. 5. 2[nd] largest NBFI in asset Primarily offers equipment Key differentiators include Large, under-served Profitable, growing finance in Australia and finance to growing SMEs to speed to reach decisions and ` addressable market of $49 business with strategy New Zealand. Products are fund the purchase of fund applications, and billion across Australia and to build a scale financial exclusively distributed revenue-generating assets. specialist offering for capital New Zealand within services business through through the broker channel >600 SMEs within the target intensive businesses a broader $430 billion SME organic and inorganic (73% of SME asset finance customer segment lending market growth sold through brokers)

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SALE OF HUMM GROUP CONSUMER FINANCE BUSINESS

NEXT STEPS

HUM shareholders do not need to take any action in response to this announcement

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HUM shareholders will be asked to vote on the HCF transaction and associated resolutions at a date to be determined. A comprehensive package of information, including notices of meeting, explanatory memorandum (accompanied by an ` independent expert’s report) and associated documentation, is proposed to be provided to shareholders in approximately two months.

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THANK YOU