HUMM GROUP LIMITED — Capital/Financing Update 2023

Apr 23, 2023

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24 April 2023

humm announces of group pricing A$427m ABS transaction

humm group limited (ASX: HUM) (“ humm group” or the “Company”) has announced the pricing of A$427 million of asset-backed securities (“ABS”), supported by a pool of commercial receivables originated in Australia under its flexicommercial offering.

humm group has been a regular issuer in the securitisation market since 2011 and the flexicommercial ABS Trust 2023-1 transaction is representative of the continuing growth in its asset financing business. Despite challenging market conditions, the transaction was well supported by a broad set of investors enabling an upsize of the transaction from the initial launch volume of A$350m. Following close of this transaction, humm group will have issued over A$1.9b of ABS notes in support of the flexicommercial portfolio.

Adrian Fisk, Chief Financial Officer of humm group said:

“ humm group is pleased to have been able to successfully price this latest ABS transaction, reflecting the ongoing support for our flexicommercial business. This is in light of market conditions which continue to create some challenges for issuers, noting the evolving macroeconomic impacts of central bank actions across the globe in response to the inflationary pressures, and more recent volatility in global banking markets. Although spreads remain elevated, the transaction was able to be priced inside of the flexicommercial transaction executed in November 2022 with strong coverage levels reflecting the strength of the humm group and flexicommercial brands and businesses.

“The transaction will create additional wholesale funding capacity to support the continued flexicommercial growth and will further improve humm group’s capital efficiency.”

The flexicommercial ABS Trust 2023-1 transaction includes:

Notes	Issue size (A$m)	Expected ratings(Moody’s/ Fitch)	Margin over 1mBBSW
Class A1	80.98	Aaa(sf)/ AAAsf	125bps
Class A2	224.31	Aaa(sf)/ AAAsf	180bps
Class B	38.43	Aa2(sf)/ Not rated	350bps
Class C	20.50	A2(sf)/ Not rated	390bps
Class D	10.68	Baa2(sf)/ Not rated	460bps
Class E	11.96	Ba1(sf)/ Not rated	780bps
Class F	18.79	B2(sf)/ Not rated	890bps
Class G	21.35	Not rated	Not disclosed
Total	427.00

-ENDS-

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

Authorised for release by humm group Disclosure Committee.

Investor Relations Contact

David Grevler - Head of FP&A and Investor Relations +61 414 488 042

Media Contact

Roger Newby – Domestique Consulting +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 almost 2.6 million customers and operates in Australia, New Zealand, Ireland, Canada and the United Kingdom.

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