HUMM GROUP LIMITED — Interim / Quarterly Report 2021

Feb 23, 2021

1H21 RESULTS // 24 FEBRUARY 2021

==> picture [70 x 58] intentionally omitted <==

~~GLOBAL.~~

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

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

1
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

1H21 RESULTS // 24 FEBRUARY 2021

01. 1H21 key highlights 02. Strategy update 03. 1H21 group financials 04. Summary 05. Appendices

A enda // g

==> picture [99 x 17] intentionally omitted <==

2

1H21 RESULTS // 24 FEBRUARY 2021

humm group // Buy on your terms

We’re liberating people from a ‘one size fits all’ approach.

==> picture [404 x 99] intentionally omitted <==

We are on a mission to revolutionise the wa eo le bu . y p p y

We enable seamless approvals for purchases big, small or business related. Empowering consumers to choose how they wish to pay, with terms from five fortnights through to five years.

Today 2.6 million customers entrust us to help them buy, and pay over time. And we’re just getting started.

In 2H21 we’re taking humm to the United Kingdom and Canada. As we grow internationally, we’re putting significant firepower into our marketing efforts and product experience, actively shaping how people will buy in the future.

==> picture [99 x 17] intentionally omitted <==

3

1H21 KEY HIGHLIGHTS //

==> picture [622 x 262] intentionally omitted <==

==> picture [99 x 17] intentionally omitted <==

4

1H21 RESULTS // 24 FEBRUARY 2021

1H21 key highlights //

==> picture [574 x 164] intentionally omitted <==

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

GROUP: TOTAL CUSTOMERS GROUP: NET LOSS/ANR
+40% PCP -10bps PCP
2.62M
4.9%
2.28M 4.6%
1.87M
1.76M
3.3% 3.2%
Jun-19 Dec-19 Jun-20 Dec-20 2H19 1H20 2H20 1H21
----- End of picture text -----

==> picture [574 x 163] intentionally omitted <==

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

BNPL: VOLUME BNPL: NEW PRODUCTS VOLUME [1]
+14% PCP +90% PCP
$473m $146m
$416m
$373m
$321m
$93m
$77m
$37m
2H19 1H20 2H20 1H21 2H19 1H20 2H20 1H21
----- End of picture text -----

==> picture [263 x 163] intentionally omitted <==

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

GROUP: TOTAL APP DOWNLOADS
+89% PCP
540k
371k
287k
56k
2H19 1H20 2H20 1H21
----- End of picture text -----

BNPL: TOTAL TRANSACTIONS

==> picture [263 x 132] intentionally omitted <==

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

+293% PCP
1,511k
767k
384k
231k
2H19 1H20 2H20 1H21
----- End of picture text -----

1. New products include humm ‘Little things’ AU, NZ and IE and bundll.

==> picture [99 x 17] intentionally omitted <==

5

STRATEGY UPDATE //

==> picture [710 x 435] intentionally omitted <==

==> picture [99 x 17] intentionally omitted <==

6

1H21 RESULTS // 24 FEBRUARY 2021

Strategy for growth //

New products for new audiences

==> picture [166 x 57] intentionally omitted <==

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

Addressing new markets
through bundll and
humm pro
----- End of picture text -----

==> picture [629 x 214] intentionally omitted <==

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

Driving customer Expanding the International
instalment
engagement expansion
payment core
Driving customer New merchants and
engagement and transaction platforms in current markets
frequency
----- End of picture text -----

Expansion into new markets

==> picture [99 x 17] intentionally omitted <==

7

1 NEW PRODUCTS FOR NEW AUDIENCES

1H21 RESULTS // 24 FEBRUARY 2021

==> picture [244 x 49] intentionally omitted <==

// Displacing the $30b SME credit market

==> picture [562 x 338] intentionally omitted <==

FOR THOSE...

2.9m SME owners in Australia and New Zealand who’d rather be baking, planning, hammering, painting, making, delivering, writing and building their business.

WHO THINK...

Finance should be tailored and easy to access.

AND WANT...

One easy to use product that tracks spending and gives repayment options to put SME owners in control of their cashflow.

==> picture [99 x 17] intentionally omitted <==

8

1

1H21 RESULTS // 24 FEBRUARY 2021

NEW PRODUCTS FOR NEW AUDIENCES

==> picture [244 x 49] intentionally omitted <==

// Payment options to suit every need

==> picture [111 x 149] intentionally omitted <==

==> picture [109 x 147] intentionally omitted <==

==> picture [99 x 143] intentionally omitted <==

Purchases grouped Get an extra Convert any monthly into monthly month for a balance to a 6, 9 or balances with 3.5% fee, up to 12 month plan for a another month to two times. fee of 1.5% per repay. $15 monthly month. fee when used.

==> picture [159 x 284] intentionally omitted <==

==> picture [99 x 17] intentionally omitted <==

9

1

1H21 RESULTS // 24 FEBRUARY 2021

NEW PRODUCTS FOR NEW AUDIENCES

==> picture [193 x 62] intentionally omitted <==

//

With inbuilt tools supporting financial wellness, our BNPL anywhere product is resonating

==> picture [689 x 224] intentionally omitted <==

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

CUSTOMERS (CUMULATIVE) MONTHLY TRANSACTIONS MONTHLY VOLUMES
51.8k 321k
$11.4m
105k2
$3.7m2
221k
$7.7m
82k
$2.7m
15.6k
Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 1 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 1 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 1
----- End of picture text -----

1. Data as at 19 February 2021.

2. Estimate based on performance as at 19 February 2021.

==> picture [212 x 348] intentionally omitted <==

==> picture [99 x 17] intentionally omitted <==

10

2

1H21 RESULTS // 24 FEBRUARY 2021

DRIVING CUSTOMER ENGAGEMENT

==> picture [324 x 64] intentionally omitted <==

// Delightful app experiences

==> picture [175 x 12] intentionally omitted <==

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

INSTANT PROVISIONING.
----- End of picture text -----

MARKETPLACE.

BPAY.

Sign up and shop in less than two minutes

Two click shopping experience

BNPL bills at over 23k providers

MANAGE REPAYMENTS. Business Now Pay Later

These features and smooth user experiences have led to humm group customers transacting 14x p.a.[1]

==> picture [99 x 17] intentionally omitted <==

1. Includes all products in BNPL and Cards segments excluding humm pro.

11

2

1H21 RESULTS // 24 FEBRUARY 2021

DRIVING CUSTOMER ENGAGEMENT

==> picture [181 x 37] intentionally omitted <==

// More places to shop driving engagement

==> picture [892 x 332] intentionally omitted <==

==> picture [231 x 8] intentionally omitted <==

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

1. Figures relate to humm AU, NZ and IE transaction volumes for 1H21.
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

12

3

1H21 RESULTS // 24 FEBRUARY 2021

EXPANDING THE INSTALMENT PAYMENT CORE

==> picture [181 x 37] intentionally omitted <==

// New BNPL products growing rapidly

BNPL MONTHLY APP DOWNLOADS

BNPL MONTHLY TRANSACTIONS

==> picture [376 x 146] intentionally omitted <==

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

+130% 119,727
52,015
Dec-19 Mar-20 Jun-20 Sep-20 Dec-20
----- End of picture text -----

==> picture [376 x 149] intentionally omitted <==

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

+316% 418,378
100,460
Dec-19 Mar-20 Jun-20 Sep-20 Dec-20
----- End of picture text -----

BNPL MONTHLY VOLUMES (A$M)

==> picture [376 x 117] intentionally omitted <==

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

+23% 98
80
Dec-19 Mar-20 Jun-20 Sep-20 Dec-20
----- End of picture text -----

‘NEW PRODUCTS’ MONTHLY VOLUMES (A$M)

40

==> picture [376 x 133] intentionally omitted <==

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

+85%
21
Dec-19 Mar-20 Jun-20 Sep-20 Dec-20
----- End of picture text -----

1. BNPL includes humm AU, NZ, IE and bundll. 2. ‘New products’ include humm ‘Little things’ AU, NZ and IE and bundll.

==> picture [99 x 17] intentionally omitted <==

13

3 EXPANDING THE INSTALMENT PAYMENT CORE

1H21 RESULTS // 24 FEBRUARY 2021

==> picture [181 x 37] intentionally omitted <==

// Only BNPL player in Ireland

==> picture [888 x 323] intentionally omitted <==

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

+44%
+95% +71%
`
$57m
54k 1,127
$39m
28k 658
Future Generation
Energy
1H20 1H21 1H20 1H21 1H20 1H21
Signed 295 retailers in 1H21. CUSTOMERS RETAIL PARTNERS TRANSACTION
VOLUME
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

14

4 INTERNATIONAL EXPANSION

1H21 RESULTS // 24 FEBRUARY 2021

==> picture [181 x 37] intentionally omitted <==

// United Kingdom and Canada launch in 2H21

BNPL adoption is still in its infancy, with a significant opportunity to displace outdated traditional point of sale finance. We are well placed to capture the shift from revolving credit to paying over time in fixed instalments, with a focus on higher value purchases in health, automotive, home improvement and luxury.

==> picture [48 x 34] intentionally omitted <==

UnitedKingdom: $778b[1]

==> picture [49 x 34] intentionally omitted <==

Canada: $613b[1]

• humm is the only BNPL provider to service Ireland and the United Kingdom.

• Led by Patrick Joseph Byrne, CEO of humm United Kingdom and Ireland, and Ross Gould, Head of Credit and Risk, humm United Kingdom and Ireland.

• Appointment of Board and senior executives imminent.

• Attractive market for humm with strong existing relationships and a complementary regulatory framework.

• Active discussions with a number of participants in the market with further strategic alliances on launch to be announced.

• Over 200 retailers signed with strong pipeline of merchants.

• Customer-centric product design already configured to meet increasing regulation, including serviceability checks.

==> picture [99 x 17] intentionally omitted <==

1. Addressable market in A$.

15

4

1H21 RESULTS // 24 FEBRUARY 2021

INTERNATIONAL EXPANSION

==> picture [181 x 37] intentionally omitted <==

// Growing merchant base signed for United Kingdom

==> picture [124 x 67] intentionally omitted <==

==> picture [123 x 67] intentionally omitted <==

==> picture [123 x 67] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

==> picture [123 x 67] intentionally omitted <==

==> picture [123 x 67] intentionally omitted <==

==> picture [890 x 260] intentionally omitted <==

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

PAMELA SCOTT RIVER MEDICAL INSTASMILE MCGUIRKS GOLF ZELLEBRATE THERAPIE CLINIC CIGALA CYCLING
MORA UK WEHRLY BROS GOLF SIMULATORS BELMORE THERAPIE KASH BEAUTY NORTHXSOUTH LUXSTREET
BELLA BELLE CRAVE CLOSET BELLE HAIR CARTER BEAUTY TONY KEALYS WALKER & HUNT RACE & RALLY
AQUA FILTER DRONE WORKS N-PRO KEVIN LOWERY BUNKER CLOTHING VAUGHAN SHOES PULL UP MONSTER
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

16

1H21 GROUP FINANCIALS //

==> picture [58 x 56] intentionally omitted <==

==> picture [517 x 435] intentionally omitted <==

==> picture [99 x 17] intentionally omitted <==

17

1H21 RESULTS // 24 FEBRUARY 2021

hummgroup ($m)1	1H21	1H20	v PCP
Gross income	225.2	240.7	(6.4%)
Gross profit	174.3	181.8	(4.1%)
Marketing expenses	(15.4)	(13.6)	13.2%
Operating expenses	(71.8)	(84.5)	(15.0%)
Impairment losses on customer loans	(25.0)	(38.6)	(35.2%)
Tax expense	(18.7)	(10.6)	76.4%
Cash NPAT	43.4	34.5	25.8%
Add: Non-cash items1	(4.8)	(1.2)	300.0%
Statutory NPAT	38.6	33.3	15.9%
Dividend	0.00	3.85	–
Key metrics
Volume	1,249	1,350	(7.4%)
Cost to income ratio	49.8%	54.0%	(420bps)
EPS2	9.6	8.3	15.7%
ROE2	13.1%	11.0%	210bps

Financial performance.

• Gross income of $225.2m, down 6.4%, largely attributable to lower interest income in Australia Cards and reduced income from the discontinued consumer leasing portfolio.

• Gross profit of $174.3m, down 4.1%, largely due to a reduction in gross income, offset by interest expense savings of $7.0m due to lower interest rate environment.

• Impairment losses on customer loans of $25.0m, down 35.2% as a result of lower actual losses and a $4.3m after-tax benefit of releasing a proportion of the COVID-19 macro-overlay.

• Cash NPAT of $43.4m, up 25.8%.

`

• Earnings per share and return on equity up as a result of strong growth in Cash NPAT and despite the capital raise in 1H21.

• In 2H21 humm group will be making new investments in marketing, product and people as we enter two international markets. As a result, the Company expects 2H21 Cash NPAT to be lower than 1H21.

Dividends.

• To support the Company’s investment for growth, the Board has decided not to pay an interim dividend for 1H21 and will continue to review the dividend policy each half year period.

• The profit and loss statement and breakdown of non-cash items can be found in the appendices.

• EPS and ROE calculated based on Cash NPAT.

==> picture [99 x 17] intentionally omitted <==

18

1H21 RESULTS // 24 FEBRUARY 2021

Operating expenses //

Leaner core operation.

• 1H21 operating expenses (including marketing and depreciation) of $87.2m, down $10.9m on 1H20.

• Payroll expense down $13.0m on 1H20. This includes removal of duplicate roles and functions of $6.9m, with a 30% reduction in head count since December 2018.

• Other operating expenses savings of $3.6m driven by reducing 20 products to four.

OPERATING EXPENSES 1H21 VERSUS 1H20 ($M)

==> picture [372 x 175] intentionally omitted <==

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

$98.1
($13.0)
$87.2
$3.9
($3.6)
$1.8
1H20 Payroll Other opex Marketing Depreciation 1H21
`
----- End of picture text -----

• Marketing expenses of $15.4m, up $1.8m on 1H20 from the investment in new BNPL products.

• Depreciation costs of $11.8m, up $3.9m on 1H20 reflecting investment in new product development.

• Cost to income ratio excluding marketing costs and depreciation has fallen 790bps points since 1H20.

• Investment in international expansion will drive a moderate short-term increase in the cost to income ratio, with a continued focus on reducing core operational costs which exclude marketing and depreciation.

==> picture [121 x 8] intentionally omitted <==

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

COST TO INCOME RATIO
----- End of picture text -----

==> picture [374 x 131] intentionally omitted <==

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

54%
50%
48%
47%
46% 45%
44% 42% 41%
40%
42%
40%
39%
35% 34%
1H19 2H19 1H20 2H20 1H21
CTI reported CTI - ex marketing CTI - ex marketing and depn
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

1. Operating expenses in commentary based on Cash NPAT.

19

1H21 RESULTS // 24 FEBRUARY 2021

Buy Now Pay Later //

Investment for growth.

• Cash NPAT of $3.1m (1H20: $5.1m), impacted by investment in new products including bundll and humm New Zealand.

• Volume of $473.0m, up 13.8% (1H20: $415.8m) reflecting strong performance in humm Ireland, humm ‘Little things’ and the increasing contribution from bundll .

• 1H21 online volume of $89.6m increased by 147.0% in line with the shift to online spending as a result of the pandemic.

• humm ‘Little things’ volumes of $112.2m, up 46.5% driven by strong customer and merchant acquisition.

• Gross profit of $45.5m, down 7.3% as receivables growth was offset by higher direct cost of sales and some margin compression.

• Operating expenses decreased $2.4m from operational efficiencies, offset by an increased investment in marketing.

• 30+ days arrears of 1.85% as 31 December 2020 for humm Australia.

==> picture [397 x 455] intentionally omitted <==

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

$9.8m
+14%
$8.4m
$3.3m $6.7m
`
New products New products
and new and new
markets markets
$473m
$416m
$5.1m
$3.1m
(39%)
1H20 1H21 1H20 1H21
VOLUME CASH NPAT
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

1. bundll in 1H20 has been reclassified from Cards segments to BNPL.

20

1H21 RESULTS // 24 FEBRUARY 2021

Cards //

Robust performance in a challenging environment.

Australia Cards Cash NPAT for 1H21 of $12.2m, up 87.7% with:

• Volume down by 43.2% due to COVID-19 impacts on merchant activity, particularly in travel and hospitality.

• Excluding key travel partner volume and substantial refunds, segment volume was broadly similar, decreasing by 2.4%.

• Gross profit of $37.5m, down 9.9% (1H20: $41.6m) from a decline in interest bearing receivables.

• $4.3m after tax benefit from release of COVID-19 macro overlay.

• Interest bearing balances for humm 90 (formerly Skye) broadly steady over 1H21.

• Reduction in interest bearing balances predominantly limited to discontinued products (Lombard & Once).

New Zealand Cards Cash NPAT for 1H21 of $14.3m, up 5.9% with:

• Volume down by 17.3% due to the impact of COVID-19 on spending.

• Gross profit of $54.6m, up 2.8% from higher net interest margin and lower direct cost of sales.

• Operating expenses of $23.8m, down 8.5% reflecting the benefits of cost reduction initiatives.

• Average net receivables returned to consistent growth since September 2020.

==> picture [425 x 455] intentionally omitted <==

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

AU CARDS
88%
(43%)
$12.2m
$354m
$6.5m
$201m
FY19
1H20 1H21 1H20 Macro 1H21
overlay
VOLUME CASH NPAT
`
NZ CARDS
6%
(17%)
$434m $13.5m [$14.3m]
$359m
1H20 1H21 1H20 1H21
VOLUME CASH NPAT
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

21

1H21 RESULTS // 24 FEBRUARY 2021

Commercial & Leasing //

Revitalised business driving strong results.

• Cash NPAT of $13.8m, up 46.8% in (1H20: $9.4m).

• Volume up 46.9% driven by strong origination growth in Australia, solidifying the strategy to focus on lending via the broker channel.

• Strong credit quality observed in 2H20 SME lending maintained in 1H21 while increasing volumes significantly.

• Gross profit of $36.7m, down 3.4% from a changing portfolio mix, resulting in lower margins and the cessation of consumer leasing.

• Operating expenses of $15.7m, down 29.3% from simplifying the Australia Commercial business and reduced costs from consumer leasing.

• Access to up to $100m government guarantee for 50% of losses associated with new asset finance loans under the SME Guarantee Scheme 2.0.

==> picture [397 x 455] intentionally omitted <==

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

47%
47%
`
$216m
$13.8m
$147m $9.4m
1H20 1H21 1H20 1H21
VOLUME CASH NPAT
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

22

1H21 RESULTS // 24 FEBRUARY 2021

Commercial & Leasing //

AUSTRALIA COMMERCIAL

Australia Commercial changing profile.

• Operating income of $23.5 million increased 49.3% on 1H20.

• Continued growth in operating income despite changing profile as product mix moves from commercial leasing to SME lending in Australia Commercial.

• Materially different portfolio from a credit performance perspective.

• Capital deployed as a proportion of portfolio continues to decline.

• flexicommercial strategic review in progress with initial recommendation to increase capital efficiency with a $300m asset-backed securities (“ABS”) transaction expected to launch in March 2021.

• Asset-backed securities transaction together with the proposed introduction of mezzanine debt into the warehouse facility will lead to a further material reduction in capital employed.

==> picture [325 x 332] intentionally omitted <==

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

29% 29%
28%
27%
25%
$23.5m
$20.5m `
$17.8m
$16.3m
$15.7m
1H19 2H19 1H20 2H20 1H21
Operating Income
Capital employed as a % of net receivables before bad debt
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

23

1H21 RESULTS // 24 FEBRUARY 2021

Credit risk management //

Data driving improvements over time.

BNPL

• Net loss / ANR down 80bps to 4.1%.

• Lower net loss driven by reduced arrears and improved portfolio performance from ongoing enhancements to the credit decisioning engine and implementation of the group fraud platform.

Australia Cards

• Net loss / ANR down 40bps due to strong credit performance and lower volume, offset by a decrease in receivables. The decline in receivables arose from higher levels of repayment.

New Zealand Cards

• Net loss / ANR up although in line with industry benchmarks, reflecting the maturing of the Mastercard Scheme portfolio.

Commercial and Leasing

• Net loss / ANR down slightly despite strong receivables growth from SME lending reflecting higher credit quality in Australia Commercial; 95% of Australia loans previously in hardship now performing.

Group

• Net loss / ANR down 10bps despite reduction in average net receivables.

==> picture [397 x 455] intentionally omitted <==

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

BNPL 4.9%
4.1%
1H20 1H21
NET LOSS/ANR
AU CARDS 4.2% 3.8%
1H20 1H21
NET LOSS/ANR
NZ CARDS ` 3.6%
2.6%
1H20 1H21
NET LOSS/ANR
1.5%
1.4%
COMMERCIAL
& LEASING
1H20 1H21
NET LOSS/ANR
GROUP 3.3% 3.2%
1H20 1H21
NET LOSS/ANR
Note: Net loss includes bad debts and loss recoveries.
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

24

1H21 RESULTS // 24 FEBRUARY 2021

Wholesale funding facilities //

Headroom to fund future growth.

• Successful humm Australian securitisation of $250m executed in October 2020.

==> picture [42 x 42] intentionally omitted <==

• Long established Australian securitisation program continuing to drive funding efficiency with over $470m of green ABS notes (certified by the Climate Bonds Standard Board) issued since 2016.

• Mezzanine funding of $70m secured for the Australia Cards portfolio in January 2021 releasing significant amount of capital.

• Expecting to launch a $300m ABS transaction in March 2021, supported by a pool of secured SME lending receivables to drive further capital efficiency for the Australia Commercial and Leasing business.

==> picture [397 x 455] intentionally omitted <==

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

$3,020m
$2,946m
$572m
$737m
`
$2,448m
$2,209m
1H20 1H21
Drawn balance
Undrawn balance
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

25

1H21 RESULTS // 24 FEBRUARY 2021

Corporate debt facilities //

Growth underpinned by balance sheet flexibility.

• Substantially deleveraged the balance sheet to position humm group for growth.

• A portion of the 1H21 capital raise proceeds utilised to repay corporate borrowings.

• Nil net gearing as at 31 December 2020 with significant headroom across corporate debt facilities.

• Exploring options to further optimise capital structure and diversify corporate debt facilities to maintain liquidity.

==> picture [348 x 286] intentionally omitted <==

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

$197m
$100m $103m
$130m
`
36%
34%
29%
$98m $96m $67m 0%
2H19 1H20 2H20 1H21
Drawn balance
Undrawn balance
Gearing ratio %
----- End of picture text -----

1. Gearing is recourse (corporate) borrowings as a percentage of equity excluding intangible assets.

==> picture [99 x 17] intentionally omitted <==

26

SUMMARY //

==> picture [595 x 438] intentionally omitted <==

==> picture [99 x 17] intentionally omitted <==

27

1H21 RESULTS // 24 FEBRUARY 2021

==> picture [291 x 47] intentionally omitted <==

// Moving forward

• We are on a mission to revolutionise the way people buy.

• We have a differentiated solution enabling seamless approvals for purchases big, small or business related.

• We empower consumers to choose how they wish to pay, with terms from five fortnights through to five years.

• We already have significant scale with 2.6 million customers, and we’re just getting started.

• We have a significant market opportunity, both locally and internationally and with a total addressable market of $1.9t.

• We are well capitalised to put significant firepower power into our global market efforts and product experience.

MARKET OPPORTUNITY

==> picture [385 x 279] intentionally omitted <==

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

Total addressable market $1.9t
United Kingdom (new market) $778b
Canada (new market) $613b$613b
Australia $349b
New Zealand $91b
Ireland $77b
----- End of picture text -----

==> picture [99 x 17] intentionally omitted <==

28

==> picture [43 x 38] intentionally omitted <==

==> picture [207 x 42] intentionally omitted <==

APPENDICES //

==> picture [470 x 364] intentionally omitted <==

==> picture [99 x 17] intentionally omitted <==

29

1H21 RESULTS // 24 FEBRUARY 2021

//

Customer-centric approach to regulation

ASIC report 672.

BNPL code of practice.

• Report highlights strong and continuous engagement from the BNPL sector.

  • Code first proposed by humm groupin 2019.

• A number of ASIC’s best practice recommendations implemented to BNPL product humm including:

• preventing consumers from making another purchase where they have missed a payment for an existing purchase;

• simple, clear and transparent contract terms for merchants and customers, including upfront disclosure of all applicable fees and charges; and

• continued commitment to all complaints being managed efficiently, honestly and fairly as well as clearly outlining availability of simple and accessible hardship processes.

• Report shows humm makes substantially less than peers from late fee payments.

• Code has introduced a number of key measures to provide the best consumer outcomes including:

• an upfront and ongoing suitability assessment over the entire product life cycle;

• an agreement to never initiate bankruptcy proceedings against a customer; and

• a commitment to ensure fees are reasonable at all times and capped.

• Senate Committee’s recommendation that the BNPL industry should be allowed to self regulate supports the development of the Code.

• Look forward to having the Code operating by 1 March 2021.

==> picture [99 x 17] intentionally omitted <==

30

1H21 RESULTS // 24 FEBRUARY 2021

NPAT reconciliation //

hummgroup ($m)	1H21	1H20	v PCP%
Cash NPAT	43.4	34.5	25.8%
Non-cash items
Amortisation of acquired intangible assets	1.1	1.2	(8.3%)
Share based payments	1.6	–	(0.0%)
Sale of Think Office Technology	1.2	–	(0.0%)
Redundancy and restructure	0.9	–	(0.0%)
Profit after income tax on statutory basis	38.6	33.3	15.9%

`

==> picture [99 x 17] intentionally omitted <==

31

1H21 RESULTS // 24 FEBRUARY 2021

Profit and Loss ($m)	1H21	1H20	v PCP %
Interest income	172.9	181.8	(4.9%)
Fee and other income	52.3	58.9	(11.2%)
Gross income	225.2	240.7	(6.4%)
Cost of sales	(12.2)	(13.2)	(7.6%)
Interest expense	(38.7)	(45.7)	(15.3%)
Gross profit	174.3	181.8	(4.1%)
Depreciation and amortisation expenses	(13.3)	(9.6)	38.5%
Employment expenses	(38.0)	(48.2)	(21.2%)
Marketing expenses	(15.4)	(13.6)	13.2%
Receivables and customer loan impairment expenses	(25.0)	(38.6)	(35.2%)
Other operating expenses	(26.1)	(28.4)	(8.1%)
Profit before income tax	56.5	43.4	30.2%
Income tax expense	(17.9)	(10.1)	77.2%
Statutory profit/(loss) after income tax	38.6	33.3	15.9%
Non-cash items	4.8	1.2	300.0%
Cash NPAT	43.4	34.5	25.8%
Basic earnings per share (cents)	8.5	8.0	6.2%
Cash earnings per share (cents)	9.6	8.3	15.7%
Volume	1,249	1,350	(7.4%)
Closing receivables and customer loans	2,572	2736	(6.0%)

`

==> picture [99 x 17] intentionally omitted <==

32

1H21 RESULTS // 24 FEBRUARY 2021

Balance Sheet ($m)	1H21	1H20	v PCP %
Cash and cash equivalents	175.1	168.2	4.1%
Receivables and customer loans1	2,465.9	2,670.8	(7.7%)
Equity and other investments	14.4	14.3	0.7%
Other assets	18.5	24.0	(22.9%)
Current and deferred tax assets	43.0	77.0	(44.2%)
Goodwill	240.6	245.2	(1.9%)
Other intangible assets	120.0	105.8	13.4%
Total assets	3,077.5	3,305.3	(6.9%)
Payables	50.8	46.4	9.5%
Borrowings	2,183.5	2,515.6	(13.2%)
Provisions	21.4	21.9	(2.2%)
Other liabilities	54.8	33.0	66.1%
Current and deferred tax liabilities	23.3	51.1	(54.4%)
Total liabilities	2,333.8	2,668.0	(12.5%)
Equity	743.7	637.3	16.7%
Gearing2	0.0%	33.6%	(LRG)
ROE3	13.1%	11.0%	210bps

`

1. Includes other debtors as disclosed in the statutory accounts.

2. Gearing is recourse (corporate) borrowings as a percentage of equity excluding intangible assets.

3. Calculated based on Cash NPAT.

==> picture [99 x 17] intentionally omitted <==

33

1H21 RESULTS // 24 FEBRUARY 2021

Consolidated Cash Flow ($m)	1H21	1H20	v PCP %
NPAT	38.6	33.3	15.9%
Share-based payments	2.1	0.1	LRG
Depreciation and amortisation	13.3	9.6	38.5%
Impairment losses on loans and receivables	25	38.6	(35.2%)
Changes in other operating assets and liabilities	18.6	(15.6)	(219.2%)
Other non-cash movements	3.4	(0.1)	LRG
Operating cash flow	101.0	65.9	53.3%
Purchase of intangibles and property, plant and equipment	(17.2)	(11.1)	55.0%
Changes in customer loans and receivables	(47.5)	(137.4)	(65.4%)
Purchase of investments	(2.5)	–	–
Investing cash flow	(67.2)	(148.5)	(54.7%)
Dividends paid	(15.2)	(15.2)	–
Proceeds from share issuance, net of transaction costs	112.4	–	–
Cash payments relating to Finance Lease liability	(2.5)	(2.0)	25.0%
Net movement in non-recourse borrowings	(43.4)	126.3	(134.4%)
Repayment of corporate borrowings	(152.3)	(144.1)	5.7%
Drawdown of corporate borrowings	84.9	142.6	(40.5%)
Financing cash flow	(16.1)	107.6	(114.9%)
Effects of exchange rate changes on cash and cash equivalents	(0.1)	0.1	(200.0%)
Net increase/(decrease) in cash	17.6	25.1	(29.6%)

`

==> picture [99 x 17] intentionally omitted <==

34

1H21 RESULTS // 24 FEBRUARY 2021

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.

==> picture [99 x 17] intentionally omitted <==

35

1H21 RESULTS // 24 FEBRUARY 2021

36[Thank ][y][ou //]

==> picture [99 x 17] intentionally omitted <==