HUMM GROUP LIMITED — Earnings Release 2010

Aug 23, 2010

==> picture [64 x 84] intentionally omitted <==

==> picture [290 x 64] intentionally omitted <==

2010 Full Year Results

24th August 2010

John DeLano Chief Executive Officer and Managing Director

Garry McLennan Chief Financial Officer

Not for distribution or release in the United States or to U.S. persons

==> picture [99 x 23] intentionally omitted <==

1

==> picture [64 x 84] intentionally omitted <==

Disclaimer

Important Notice

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 FlexiGroup Limited (“ FlexiGroup ”) in any jurisdiction. This presentation contains general information only and does not take into account the investment objectives, financial situation and particular needs of individual investors. 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 FlexiGroup’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange which are available at www.asx.com.au.

Exclusion of representations or warranties

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 FlexiGroup. 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. To the maximum extent permitted by law, FlexiGroup 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.

Nothing in this presentation constitutes an offer or invitation to issue or sell, or a recommendation to subscribe for or acquire securities in any jurisdiction where it is unlawful to do so. The securities of FlexiGroup 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. Neither this presentation nor any copy hereof may be transmitted in the United States or distributed, directly or indirectly, in the United States or to any US person including (1) any US resident, (2) any partnership or corporation or other entity organised or incorporated under the laws of the United States or any state thereof, (3) any trust of which any trustee is a US person, or (4) any agency or branch of a foreign entity located in the United States. No securities may be offered, sold or otherwise transferred except in compliance with the registration requirements of the Securities Act and any other applicable securities laws or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws.

Investment Risk

An investment in FlexiGroup securities is subject to investment and other known and unknown risks, some of which are beyond the control of FlexiGroup. FlexiGroup does not guarantee any particular rate of return or the performance of FlexiGroup securities.

==> picture [99 x 23] intentionally omitted <==

2

==> picture [64 x 84] intentionally omitted <==

==> picture [10 x 9] intentionally omitted <==

==> picture [10 x 9] intentionally omitted <==

==> picture [10 x 9] intentionally omitted <==

Agenda

Highlights and overview - Chief Executive Officer Results analysis - Chief Financial Officer Priorities and outlook - Chief Executive Officer

==> picture [99 x 23] intentionally omitted <==

3

==> picture [64 x 84] intentionally omitted <==

Group Highlights

==> picture [9 x 9] intentionally omitted <==

Fully franked final dividend of 4.5 cents - 50% increase on FY09.

==> picture [9 x 8] intentionally omitted <==

Diversification strategy is on track. New businesses (Interest Free, Mobile Broadband and Vendor Finance) producing strong profit and volume growth

==> picture [9 x 8] intentionally omitted <==

• Risk containment strategy in 2007 - 2009 (early in the GFC) results in reduced credit impairment costs in FY10

==> picture [9 x 9] intentionally omitted <==

New and existing funders provide $220m in new funding facilities; funding secured for $1.3bn in volumes over the next 2 years

==> picture [9 x 9] intentionally omitted <==

FXL’s culture of excellence brings recognition for our people:

• International IT Award - iCMG Architecture Excellence Award

• Australian Telecommunications Association Awards NSW Best Call Centre; 50-120 FTE (Customer Acquisition) & <50 FTE (Collections)

==> picture [99 x 23] intentionally omitted <==

4

==> picture [64 x 84] intentionally omitted <==

Strong Financial Performance

==> picture [8 x 7] intentionally omitted <==

==> picture [8 x 7] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

Profit: FY10 Core NPAT[1] of $60.0m (inc tax credit). Cash NPAT[2] up 24% to $41.6m Volume: 30% growth. Leases, Interest Free, Mobile Broadband double digit growth Credit: Continued improvement in quality; impairment falls by 10% to 4.4% of ANR[3] Balance Sheet /Cash flow: $124.5m cash at bank[6] ; +42% operating cash flow on FY09 Fully franked final dividend: 4.5 cents per share to be paid October 15[th] 2010

			Change
	FY10		FY09 - FY10
Cash NPAT2	$41.6m		24%
Core NPAT1	$60.0m		79%
Volume4	$549m		30%
Net Operating Cash Flow5	$53.4m		42%
End of period cash (Unrestricted and Restricted)6	$124.5m		22%

Notes:

1. Core NPAT includes one off $18.4m tax credit and excludes Certegy Intangibles amortisation of $1.1m

2. Cash NPAT excludes Certegy intangible amortisation of $1.1m in FY10 and $18.4m one off tax credit.

3. ANR is Average Net Receivables

4. Volume is all volumes for leases, loans, vendor finance, Certegy and gross revenue for Blink mobile broadband.

5. Net operating cash flow is cash generated by the business before self funding of loans and leases and capitalisation of loss reserves. Excludes the one off $18.4m tax credit which was received after financial year end close.

6. Unrestricted cash is FlexiGroup’s available cash at bank and includes cash which is held as part of FXL’s funding arrangements which is not available to the Group. The balance was $15.9m at Jun-09 and $25.2m at Jun-10. Restricted cash is cash loss reserves of $49.7m reflected as an offset to Borrowings on the Balance Sheet.

5

==> picture [64 x 84] intentionally omitted <==

FlexiGroup’s performance amongst the best in the ASX300 throughout GFC

Metric	FXL Performance Position in ASX 3002	a a a
Earning per share growth	FY08- FY10 EPS CAGR1 29% ► Top 10%
Dividend per share growth	FY08- FY10 DPS CAGR1 17% ► Top 5%
Total Shareholder Returns	ASX 300 TSR Ranking – last 12 months 12th ► Top 5%
Price Earnings ratio	P/E ratio FY103 7.65x ► Bottom 15%

Notes:

1. EPS and DPS data used is FlexiGroup’s reported NPAT for financial years FY08 – FY10

2. Ranking in ASX 300, represents FlexiGroup’s position in the ASX300 (excluding mining and metals companies)

3. Based on FlexiGroup’s FY10 cash NPAT

==> picture [99 x 23] intentionally omitted <==

6

==> picture [64 x 84] intentionally omitted <==

Well Positioned for Growth

Market

• Under serviced market due to post GFC funding paradigm

Funding

• With new and existing committed funding, facilities are in place to capitalise on growth opportunities

Profit

• New profit opportunities with Certegy and BLiNK through product innovation

• Acquisition  Opportunities expected to provide further growth potential Guidance  FY11 Cash NPAT of $46m-$48m, 11% to 15% ahead of FY10 $41.6m

==> picture [524 x 197] intentionally omitted <==

----- Start of picture text -----

Volumes ($m) NPAT [2] ($m)
$600 549 $60
46 - 48
$500 418 $50 42
$400 $40 32 34
310
$300 240 $30 22 23
$20
$200 143
119 9
$10
$100 27
3 $0
$0
05 06 07 08 09 10 11
88 95 00 02 05 07 09 10
Notes:
BCF Est. 1 [st] HN Launch IPO Acquired
1. 5 year CAGR calculation is to FY10
deal Electrical Certegy & 2. NPAT excludes Certegy intangible amortisation of $1.1m in FY10
Launch MBB
(FY09: $0.7m) and $18.4m one off tax credit.
----- End of picture text -----

==> picture [99 x 23] intentionally omitted <==

7

==> picture [64 x 84] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 7] intentionally omitted <==

Strong volume performance in all businesses with NPAT growth exceeding receivables growth

Australia Lease volumes in IT and Electrical outperform

New vertical - Vendor Finance provided a strong contribution to lease growth

Interest free (acquired in Oct 2008) and mobile broadband (launched organically in Feb 2009) contribute 55% of volumes

			FY10 v FY09
Volume $m	FY09	FY10	Growth
Leases and loans	$222m	$245m	10%
Interest Free	$195m	$290m	49%
Mobile Broadband1	$4m	$14m	250%
Total Volume	$421m	$549m	30%
Total Receivables	$540m	$593m	10%
NPAT2	$33.5m	$41.6m	24%

Notes:

1. MBB is gross access and excess revenue.

2. Excludes one-off tax credit of $18.4m and Certegy Intangibles amortisation expense of $1.1m in FY10 (FY09:$0.7m).

==> picture [99 x 23] intentionally omitted <==

8

==> picture [64 x 84] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 7] intentionally omitted <==

Through downturn and GFC, FXL diversified into 4 1 businesses and increased NPAT 35%

In FY08 point of sale small ticket leasing produced 100% of profit

• In just two years, new businesses (interest free, vendor finance, mobile broadband) contribute 20% of profit

• This trend is expected to continue given strong volume growth and NPAT margins of these businesses

==> picture [559 x 219] intentionally omitted <==

----- Start of picture text -----

FY08 FY10
20%
Cash NPAT
Contribution
Diversification
-
impact strengthens
as business lines
mature.
100% 80%
Lease: Retail Other
(Lease: Vendor, Int Free, MBB)
----- End of picture text -----

Notes:

1. 35% NPAT growth is on a compound annual growth rate (CAGR) over the 2008-2010 period on a reported NPAT basis.

==> picture [99 x 23] intentionally omitted <==

9

==> picture [64 x 84] intentionally omitted <==

New businesses deliver strong volume growth and profit margins

==> picture [8 x 8] intentionally omitted <==

Current NPAT margin[1] 27%

==> picture [8 x 7] intentionally omitted <==

Strong growth from new business segments which are expected to deliver 30% to 35% NPAT margin

==> picture [8 x 8] intentionally omitted <==

All FXL Businesses target minimum 5%+ NPAT/ANR[2]

Retail Point of Sale Retail Point of Sale Retail Point of Sale OEM & Vendor Lease to Interest Free Lease - IT & electrical Mobile Broadband - IT commercial accounts FY10 $290m assets financed $226m assets financed 54,000 active subscribers $19m assets financed Key Metrics +49% growth +4% growth +260% growth +252% growth 150,000 transactions p.a. 100,000 transactions p.a. FY11 Target NPAT NPAT NPAT NPAT NPAT NPAT NPAT NPAT Margin[1] ANR[2 ] Margin[1] ANR[2] Margin[1] ANR[2] Margin[1] ANR[2] 30% 5% 25% 8% 35% n/a 35% 4%

Notes:

1. NPAT Margin is Cash NPAT divided by total operating income

2. NPAT to ANR is Cash NPAT divided by average net receivables

==> picture [99 x 23] intentionally omitted <==

10

==> picture [64 x 84] intentionally omitted <==

Strong Australian volumes outperform

Performance

Australian small ticket leasing volume growth of +7% for FY10. 2H10 +10% outperforming retail sector

==> picture [8 x 8] intentionally omitted <==

• Conservative approach to credit in NZ and Ireland constrains volumes -6% and delivers increased NPAT

==> picture [8 x 8] intentionally omitted <==

• As Personal Loan book runs off, receivables reduce

==> picture [8 x 8] intentionally omitted <==

Growth Outlook

• Reduced competition. Opportunities in commercial solar, fleet management systems, telephony systems

==> picture [8 x 8] intentionally omitted <==

• New distribution opportunity – Clive Peeters

==> picture [8 x 7] intentionally omitted <==

• Mobile Broadband provides value add to leasing product

==> picture [8 x 8] intentionally omitted <==

• Flexi Advantage customer value proposition is now worth $2,500: 24 hour loaner plus replacement/repair if lost, damaged, stolen; online backup, and half price MBB included

		NPAT Margin1 25%	NPAT ANR2 8%
	FY10 FY09/10 ACTUAL Growth Leases $224m 5% Loans $2m -50% Total Volume3 $226m 4% Lease: IT & Electrical
	Leases $357m -4% Loans $27m -34% Closing Net Receivables3 $384m -7%
	Flexirent NPAT3 $33.4m 4%

Notes:

1. FY11 Target. NPAT Margin is Cash NPAT divided by total operating income 2. FY11 Target. NPAT to ANR is Cash NPAT divided by average net receivables 3. Excludes Vendor Finance

==> picture [99 x 23] intentionally omitted <==

11

==> picture [64 x 84] intentionally omitted <==

Strong focus on growth and product innovation – Certegy continues to exceed expectations

Interest Income and Performance

Certegy FY10 Cash NPAT[1] $7.6m exceeds guidance Operating income increased by $17.4m in FY10, driven by volume growth, fortnightly processing income and increased application income.

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 7] intentionally omitted <==

2H10 volumes +13% (like for like) driven by solar, home, and fitness.

==> picture [8 x 8] intentionally omitted <==

Growth Outlook

Target increasing NPAT / Receivables ratio to 6% Driven continued build of above revenue by improvements and from July launch of Ezi-Pay Express Product

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

Notes:

1. Before amortisation of Certegy Intangibles of $1.1m in FY10.

2. FXL acquired Certegy on 13 Oct 2008.

	NPAT Margin3 30%	NPAT ANR4 5%
FY10 FY09/10 ACTUAL Growth Volume $290m 49% Closing Net Receivables $190m 61% Certegy Cash NPAT1 $7.6m HIGH Interest Free2

==> picture [253 x 174] intentionally omitted <==

----- Start of picture text -----

Certegy NPAT/ANR Bridge
6.0%
1.2% 4.9%
5.0%
4.0% 1.4%
3.0%
0.7%
2.0% 1.3%
1.0%
0.3%
0.0%
FY09 Application Monthly Fortnightly Scale FY10
Income Processing Processing Efficiencies
Fee Fee
----- End of picture text -----

1. FY11 Target. NPAT Margin is Cash NPAT divided by total operating income

2. FY11 Target. NPAT to ANR is Cash NPAT divided by average net receivables

==> picture [99 x 23] intentionally omitted <==

12

==> picture [64 x 84] intentionally omitted <==

FXL’s Vendor Finance is well placed to deliver strong growth in FY11/12

Performance

• Recruited experienced vendor finance team to target under serviced market as foreign and domestic banks have contracted or exited

==> picture [8 x 8] intentionally omitted <==

• In the 5 years prior to joining FXL, the vendor finance team (collectively) financed $650m in assets

==> picture [8 x 7] intentionally omitted <==

• FXL Vendor Finance program expected to ramp up to $5m per month run rate

==> picture [8 x 8] intentionally omitted <==

Growth Outlook

• Signed 8 vendor partners to 3 year agreements with annual volume expected of $41m

==> picture [8 x 7] intentionally omitted <==

• Ramp up to steady state of 4% NPAT / receivables as division leverages existing FXL infrastructure

==> picture [8 x 8] intentionally omitted <==

	NPAT Margin1 35%	NPAT ANR2 4%
FY10 FY09/10 ACTUAL Growth Volume $19m 252% Closing Net Receivables $19m 74% Vendor Finance NPAT $1.3m n/a Lease: OEM / Vendor

==> picture [253 x 173] intentionally omitted <==

----- Start of picture text -----

Vendor & Commercial Finance
$m
Volume FY 2010
8.0
7.0
6.0
5.0
4.0
3.0
2.0
1.0
-
----- End of picture text -----

Notes:

1. FY11 Target. NPAT Margin is Cash NPAT divided by total operating income 2. FY11 Target. NPAT to ANR is Cash NPAT divided by average net receivables

==> picture [99 x 23] intentionally omitted <==

13

==> picture [64 x 84] intentionally omitted <==

Investment in customer acquisition during start up is expected to drive improved profitability in FY11

Performance

• Economic model: Revenue derived from monthly paying customers less data costs, customer acquisition costs and operating expenses

==> picture [8 x 8] intentionally omitted <==

• 54,000 customers producing monthly income compared to 15,000 in FY09

==> picture [8 x 8] intentionally omitted <==

• 2[nd] largest purchaser of mobile broadband from wholesale provider

==> picture [8 x 8] intentionally omitted <==

• Strong market share at point of sale. 30% of leases include mobile broadband package

==> picture [8 x 8] intentionally omitted <==

Growth Outlook

• Market forecast to grow 27% in 2011[1]

==> picture [8 x 8] intentionally omitted <==

• FY10 NPAT -$0.7m. Positive in 2H10. Forecast approximately $3m in FY11

==> picture [8 x 7] intentionally omitted <==

NPAT improvement from

==> picture [8 x 8] intentionally omitted <==

• on-line customer self service - with minimal overhead increase to support growing customer base

• acquisition costs will reduce with lower modem costs[2]

• growth in active subscribers and upselling customers to contract plans

		NPAT Margin3 35%
	FY10 ACTUAL Mobile Broadband	FY09/10 Growth 260% N/A N/A
	Active Customers (000's) 54
	Customer Acquisition Cost $3.9m
	BLiNK NPAT -$0.7m

==> picture [223 x 145] intentionally omitted <==

Notes:

1. Source IDC

2. Modem cost in FY11 expected to reduce by $15 over 2H10

3. FY11 Target. NPAT Margin is Cash NPAT divided by total operating income

==> picture [99 x 23] intentionally omitted <==

14

==> picture [64 x 84] intentionally omitted <==

Results analysis Garry McLennan Chief Financial Officer

==> picture [99 x 23] intentionally omitted <==

15

==> picture [64 x 84] intentionally omitted <==

Track record of consistent profit growth through the cycle

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 7] intentionally omitted <==

==> picture [8 x 7] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

• FY10 Cash NPAT growth 24% (pre $18.4m tax credit and intangible amortisation);

• 36% NPAT growth over 5 years (CAGR)

• Strong revenue and volume growth

• Certegy product initiatives

• BLiNK subscription revenue from a growing number of subscribers

• Operating margins[1] increased by 90 bps over the past 2 years despite 86bps increase in funding costs & unused limit fees

• Overhead increases supports +36% transaction growth

• Full year of acquired Certegy business

• Recruitment of new Vendor Finance team

==> picture [269 x 306] intentionally omitted <==

----- Start of picture text -----

FlexiGroup NPAT Bridge (FY09 vs FY10)
$m
70
18.4 60.0
60
50
4.4 (6.8)
7.1 2.0 1.4 41.6
40
33.5
30
20
+24%
10
0
Pre-Amortisation of Certegy intangibles
FY09 Cash NPAT Fee & Other Income Net Interest Income Opex Loss Impairment Tax/Other FY10 Cash NPAT Tax Benefit FY10 Core NPAT
----- End of picture text -----

• BLiNK mobile broadband customer origination costs

==> picture [8 x 8] intentionally omitted <==

• Impairment losses down 10%

• Significant reductions in lease and personal loan impairment

Notes:

1. Operating Margin is Net Operating Income before impairment to average net receivables

==> picture [99 x 23] intentionally omitted <==

16

==> picture [64 x 84] intentionally omitted <==

Continued focus on credit quality and collections delivers a 10% improvement in losses

==> picture [8 x 7] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

• Net impairment losses in FY10 of $24.4m were 10% lower on prior year

• FY10 lease losses of $10.9m were 30% lower than prior year

• Personal Loan losses continue to decline with the run off of the portfolio

• Certegy losses commensurate with portfolio growth and expectations

• Superior results driven by:

• 20 years experience in consumer and business credit embedded in FXL’s credit scoring systems

• Performance of FXL’s award winning Collections Team[1]

• Continued investment in new technology platforms

	FY09 FY10 Net Impairment losses ($m) ACTUAL ACTUAL Leases 15.6 10.9 Personal Loans 6.6 4.5
	Leases/Personal Loans 22.2 15.4
	Certegy 5.0 9.0
	Total Net Impairment Losses 27.2 24.4
	% of Avg Receivables 4.9% 4.4%

==> picture [291 x 169] intentionally omitted <==

----- Start of picture text -----

90 Day Plus Delinquency %
2.4%
2.0%
1.6%
1.2%
0.8%
0.4%
0.0%
Dec-07 Jun-08 Dec 08 Jun-09 Dec-09 Jun-10
----- End of picture text -----

Notes:

1. FlexiGroup Collections call centre won Australian Telecommunications Award for best NSW Call Centre under 50 seats

==> picture [99 x 23] intentionally omitted <==

17

==> picture [64 x 84] intentionally omitted <==

Strong volume growth and new product initiatives underpins strong operating cash flows

==> picture [8 x 8] intentionally omitted <==

==> picture [8 x 7] intentionally omitted <==

==> picture [8 x 8] intentionally omitted <==

• 42% growth in operating cash flow to $53.4m. $18.4m tax credit not included as it was received in July 2010

• FXL’s continued focus on non-interest income increases cash and reduces FXL exposure to interest rate increases

• Timing differences relates to timing of payments to retail stores

==> picture [280 x 312] intentionally omitted <==

----- Start of picture text -----

FlexiGroup Operating Cash Flow Bridge
$m (FY09 vs FY10)
60
8.6 (2.9) 53.4
50 10.2 (7.3) 4.4
2.8
37.6
40
30
20
+42%
10
0
FY09 Cash Flow Fees & Other Income Opex Sales Volume Spread Income Timing Differences Tax FY10 Cash Flow
----- End of picture text -----

==> picture [99 x 23] intentionally omitted <==

18

==> picture [64 x 84] intentionally omitted <==

FXL’s balance sheet is conservatively geared

==> picture [7 x 7] intentionally omitted <==

==> picture [7 x 7] intentionally omitted <==

==> picture [7 x 7] intentionally omitted <==

==> picture [7 x 6] intentionally omitted <==

==> picture [7 x 6] intentionally omitted <==

==> picture [7 x 7] intentionally omitted <==

• Recourse Debt/Equity at 10%[1] . Includes $15m Certegy vendor note[2]

• FXL’s $74.8m in unrestricted cash at bank is 3.8 times FXL’s $19.8m of recourse borrowings

• FXL does not record future end of term income on its balance sheet

• FXL’s investment in approved new funding facilities over the next 2 years expected to be fully funded from FXL’s receivables warehoused in FY10 and the release of cash loss reserves from existing SPV’s as some facilities transition

• Sufficient cash and funding to support $1.3bn in volume over the next 2 years

• Surplus cash will be deployed to repay the $15m Fidelity vendor note (due Oct-11) and to support growth and strategic opportunities as well as capital management

Notes:

1. Gearing = Non-recourse borrowings as a percentage of FlexiGroup equity

2. FXL has a $15m vendor note owed to Fidelity Inc as part of the acquisition of Certegy.

	FlexiGroup FlexiGroup Excl. SPV's incl SPV's Unrestricted Cash at Bank 74.8 74.8 Income Tax Receivable 19.2 19.2 Net Receivables 56.6 579.6 Other Assets 55.0 55.0 Goodwill and Intangibles 94.8 94.8 Summarised Balance Sheet as at 30 June 2010	FlexiGroup FlexiGroup Excl. SPV's incl SPV's Unrestricted Cash at Bank 74.8 74.8 Income Tax Receivable 19.2 19.2 Net Receivables 56.6 579.6 Other Assets 55.0 55.0 Goodwill and Intangibles 94.8 94.8 Summarised Balance Sheet as at 30 June 2010	FlexiGroup FlexiGroup Excl. SPV's incl SPV's Unrestricted Cash at Bank 74.8 74.8 Income Tax Receivable 19.2 19.2 Net Receivables 56.6 579.6 Other Assets 55.0 55.0 Goodwill and Intangibles 94.8 94.8 Summarised Balance Sheet as at 30 June 2010	FlexiGroup FlexiGroup Excl. SPV's incl SPV's Unrestricted Cash at Bank 74.8 74.8 Income Tax Receivable 19.2 19.2 Net Receivables 56.6 579.6 Other Assets 55.0 55.0 Goodwill and Intangibles 94.8 94.8 Summarised Balance Sheet as at 30 June 2010
	Summarised Balance Sheet as at 30 June 2010	FlexiGroup Excl. SPV's	FlexiGroup incl SPV's
	Unrestricted Cash at Bank Income Tax Receivable Net Receivables Other Assets Goodwill and Intangibles	74.8 19.2 56.6 55.0 94.8	74.8 19.2 579.6 55.0 94.8
	Total Assets	300.4	823.4
	Borrowings Cash Loss Reserves available to Funders Other Liabilities	19.8 - 75.0	592.5 (49.7) 75.0
	Total Liabilities	94.8	617.8
	Total Equity	205.6	205.6
	Gearing	10%	N/A

Explanatory Notes:

1. FXL’s lease and interest free receivables are funded by non-recourse borrowings from Banks

2. Non-recourse borrowings equals FlexiGroup’s total borrowings of $592.5m less borrowings ($19.8m) which have recourse to FlexiGroup Limited i.e $572.7m in bank borrowings in SPV’s are non-recourse to FlexiGroup

3. These bank borrowings are secured against FXL’s lease and interest free receivables and cash security in Special Purpose Entities (SPV’s)

4. The cash security provided by FXL represents restricted cash at bank and are reflected as Loss Reserves on FXL’s balance sheet

==> picture [99 x 23] intentionally omitted <==

19

==> picture [64 x 84] intentionally omitted <==

$220m in new facilities position FXL for growth

==> picture [251 x 306] intentionally omitted <==

----- Start of picture text -----

$m Funding Facilities
1000
900
75
800
53
700 232
163
600
500
400
300 577 578
200
100
0
#
Jun-09 Jun-10
Drawn Undrawn Cash
----- End of picture text -----

During the past 6 months

==> picture [8 x 8] intentionally omitted <==

• Existing A$200m facility extended for 2 years

• New 2 year A$100m facility with existing bank funder

• New 2 year NZ$50m facility with new bank funder

• New 2 year A$50m facility with new bank funder

• A$30m AAA/AA rated facility established with placement of -

• FXL receivables to a Challenger Life Company in 1H11 cash impact below previous guidance

• Funding secured for $1.3bn in volumes over next 2 years

==> picture [8 x 8] intentionally omitted <==

Going forward Target

==> picture [8 x 7] intentionally omitted <==

• FXL will seek to further diversify it’s funding through additional private placements to fund managers and other debt capital markets issuances

Notes:

Includes $220m in new facilities credit approved in August 2010

==> picture [99 x 23] intentionally omitted <==

20

==> picture [64 x 84] intentionally omitted <==

Growth initiatives and outlook for FY11 John DeLano Chief Executive Officer and Managing Director

==> picture [99 x 23] intentionally omitted <==

21

==> picture [64 x 84] intentionally omitted <==

Outlook for FY11

==> picture [9 x 9] intentionally omitted <==

FY11 Cash NPAT guidance of $46m-$48m. Growth of 11% to 15% on FY10 Cash NPAT of $41.6m

• Increased contribution from Certegy due to product innovation

• Increased customer numbers support strong revenue growth from BLiNK Mobile Broadband

• Growth in good credit quality verticals (commercial leases and Certegy) will support positive arrears trend

==> picture [9 x 8] intentionally omitted <==

FY11 volume growth resulting from

• Growth in Vendor Finance segment with mid-large ticket leasing

• Increased BLiNK Mobile Broadband penetration in retail channels

• Certegy growing homeowner segment

• Opportunities in Clive Peeters, commercial solar, fleet management and telephone systems

==> picture [9 x 8] intentionally omitted <==

Continued focus on value accretive acquisition opportunities[1]

Notes:

1. Consistent with previous guidance to the market, FXL is currently assessing potential acquisition opportunities that would be value accretive to FXL shareholders. However, at this stage, there is no certainty that any acquisition will be forthcoming or in relation to the terms, timing, or funding of any potential acquisitions. FXL will inform the market of any material matters in accordance with the ASX Listing Rules and the Corporations Act.

==> picture [99 x 23] intentionally omitted <==

22

==> picture [64 x 84] intentionally omitted <==

Appendices

==> picture [99 x 23] intentionally omitted <==

23

==> picture [64 x 84] intentionally omitted <==

Appendix 1 - Detailed Statutory Profit & Loss

FlexiGroup Limited

Profit & Loss Statement

A$ MILLION	FY 09	FY10
Net interest income	110.8	120.4
Interest expense	(47.9)	(51.2)
Net Interest Margin	**62.9 **	**69.2 **
Other net income	73.6	83.8
Operating Income	**136.5 **	**153.0 **
Payroll and related expenses	(36.3)	(44.9)
Depreciation & amortisation expenses	(4.2)	(4.3)
Other expenses	(20.9)	(21.9)
Total Expenses(before impairment)	(61.4)	(71.1)
Impairment losses	(23.0)	(25.1)
Lossprovision	(4.2)	0.7
Net Profit Before Tax	**47.9 **	**57.5 **
Tax(expense)/ benefit	(14.4)	(15.9)
Cash Net Profit After Tax	**33.5 **	**41.6 **
Tax credit relating to re-setting of cost base
of assets	0.0	18.4
Core Net Profit After Tax	**33.5 **	**60.0 **
Amortisation of Certegyintangibles	(0.7)	(1.1)
Reported Net Profit After Tax	**32.8 **	**58.9 **

==> picture [99 x 23] intentionally omitted <==

24

==> picture [64 x 84] intentionally omitted <==

Appendix 2 - Detailed Statutory Balance Sheet

A$ MILLION	Jun-09 Jun-10 Jun-09 Jun-10 52.6 74.8 52.6 74.8 12.8 69.7 540.2 592.7 (13.7) (13.1) (13.7) (13.1) (0.9) 56.6 526.5 579.6 34.3 41.5 34.3 41.5 0.0 19.2 0.0 19.2 3.0 0.4 3.0 0.4 2.0 0.6 2.0 0.6 4.2 3.7 4.2 3.7 7.4 8.8 7.4 8.8 79.9 79.9 79.9 79.9 14.5 14.9 14.5 14.9 197.0 300.4 724.4 823.4 0.0 4.8 576.7 577.5 (0.0) (0.0) (49.3) (49.7) 0.0 4.8 527.4 527.8 15.0 15.0 15.0 15.0 29.6 41.0 29.6 41.0 4.4 0.0 4.4 0.0 3.4 3.8 3.4 3.8 25.5 30.2 25.5 30.2 77.9 94.8 605.3 617.8 119.1 205.6 119.1 205.6 35.3 75.0 35.3 75.0 (2.9) (0.7) (2.9) (0.7) 86.7 131.3 86.7 131.3 119.1 205.6 119.1 205.6 FlexiGroup including SPV's FlexiGroup excluding SPV's
Assets Cash at bank Loans and receivables Allowance for losses Other receivables Income tax receivable Rental equipment Inventory Plant and equipment Deferred tax assets Goodwill Other intangible assets
Total Assets
Liabilities Borrowings Loss reserve Net borrowings Vendor note Payables Current tax liability Provisions Deferred tax liabilities
Total Liabilities
Net Assets
Equity Contributed equity Reserves Retainedprofits
Total Equity

Note :

SPV’s are special purpose entities which are used to fund customer receivables. The receivables in each SPV are funded through borrowings from banks.

These borrowings are made on a nonrecourse basis to FlexiGroup.

==> picture [99 x 23] intentionally omitted <==

25

==> picture [64 x 84] intentionally omitted <==

Appendix 3 - Detailed Statutory Cash Flows

A$ MILLION	FY09	FY10
Underlying Cash Flow from Operating Activities	67.3	67.6
Tax paid	(12.3)	(15.2)
(Increase) in loss reserves	(6.4)	(0.4)
(Increase) / decrease in mobile broadband modem inventory	(2.0)	1.4
Timingof assetpayments	(9.0)	0.0
Net cash inflow provided from operating activities	**37.6 **	**53.4 **
Cash flows from investing activities
Capital expenditure	(6.3)	(6.4)
Certegyacquisition and capitalised costs	(18.4)	0.0
Net cash outflow from investing activities	(24.7)	(6.4)
Cash flows from financing activities
Dividends	(14.0)	(14.4)
Proceeds from equity rasing	0.0	38.9
Self fundingof loans,leases and leaseperiods	(5.9)	(49.1)
Net cash outflow from financing activities	(19.9)	(24.6)
Net impact of exchange rate movements	0.2	(0.2)
Net increase (decrease) in cash and cash equivalents	(6.8)	**22.2 **
Opening cash and cash equivalents	**59.4 **	**52.6 **
End ofperiod cash and cash equivalents	**52.6 **	**74.8 **

==> picture [99 x 23] intentionally omitted <==

Note 1 Complete and detailed cash flow statement is available in FlexiGroup statutory accounts.

26

==> picture [64 x 84] intentionally omitted <==

Appendix 4 – FlexiGroup Businesses

==> picture [87 x 27] intentionally omitted <==

==> picture [71 x 29] intentionally omitted <==

==> picture [60 x 30] intentionally omitted <==

Retail Point of Sale Lease - IT & electrical

OEM & Vendor Lease to commercial accounts

Retail Point of Sale Interest Free

==> picture [70 x 26] intentionally omitted <==

Retail Point of Sale Mobile Broadband - IT

==> picture [6 x 5] intentionally omitted <==

• Trading since 1988, IPO Dec 2006

==> picture [6 x 5] intentionally omitted <==

• Recruited an experienced industry team in Nov 09

==> picture [6 x 5] intentionally omitted <==

• Trading since 1989, acquired Oct 2008

==> picture [6 x 5] intentionally omitted <==

• Launched in retailers, Feb 2009

==> picture [6 x 5] intentionally omitted <==

==> picture [6 x 5] intentionally omitted <==

==> picture [6 x 5] intentionally omitted <==

• Lease products offered in IT & electrical channels

• Preserves margin for the OEM/ Vendor Customers appreciate loaner, protect & affordable monthly payments

==> picture [6 x 5] intentionally omitted <==

==> picture [6 x 5] intentionally omitted <==

==> picture [6 x 5] intentionally omitted <==

• OEM / Vendor leasing to business

• Increase sales volumes for OEMs / Vendors Affordable, tax deductible means for customers to acquire assets

==> picture [6 x 5] intentionally omitted <==

==> picture [6 x 5] intentionally omitted <==

==> picture [6 x 5] intentionally omitted <==

• Interest free & cheque guarantee products offered in diverse industries

• Increases sales volumes for retailers No interest (ever) payable by the customer

==> picture [6 x 5] intentionally omitted <==

==> picture [6 x 5] intentionally omitted <==

==> picture [6 x 5] intentionally omitted <==

• Casual and contract mobile broadband offered through IT retailers

Increases margins for the retailers Customers enjoy easy instore activation, protect & loaner features

Key FY10 Metrics

$226m assets financed

+4% growth 100,000 transactions p.a.

$19m assets financed +252% growth

$290m assets financed +49% growth 150,000 transactions p.a.

54,000 active subscribers +235% growth

Key FY11 Targets

NPAT NPAT Margin[1] ANR[2] 25% 8%

NPAT NPAT Margin[1] ANR[2] 35% 4%

NPAT NPAT NPAT NPAT Margin[1] ANR[2 ] Margin[1] ANR[2] 30% 5% 35% n/a

Notes: 1. NPAT Margin is Cash NPAT divided by total operating income 2. NPAT to ANR is Cash NPAT divided by average net receivables

==> picture [99 x 23] intentionally omitted <==

27

==> picture [64 x 84] intentionally omitted <==

Please also visit our new corporate website www.flexigroup.com.au

==> picture [99 x 23] intentionally omitted <==

28