HUMM GROUP LIMITED - Investor Presentation 2008

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FY 2008 Results Presentation

26[th] August 2008

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John DeLano

Chief Executive Officer and Managing Director

Paul McMahon Chief Financial Officer

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No recommendation, offer, invitation or advice

This presentation is not a 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.

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 statement 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.

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Key Highlights

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NPAT
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NPAT results hit guidance – 10.2% above FY07. $32.3m (FY08) compared to $29.3m (pro forma FY07)

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32.3
29.3
22.7
12.3
2005 2006 2007 2008
(pro forma)
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Certegy Acquisition on track and proceeding to timetable
Lengthened portfolio funding facility terms - majority of approved undrawn facilities now on 2 year committed basis up from 1 year committed as reported in February 2008 interim update*
Increased committed undrawn portfolio funding to $238m up from $210m as reported in February 2008
The dividend is anticipated to be paid in November 2008 at 3 cents per share fully franked

* Includes $100m facility for Certegy funding

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Acquisition - FlexiGroup agrees to acquire the Certegy Australia operation from Fidelity National Information Services Inc for circa $31.4m
Interim Rental Charge – provides customers with an option to select their rental payment start date. Performance improves to $3.0m NPAT on an annualised basis (estimated at $1.3m in February)
FlexiLimits launched in May 08 – delivering 4% improvement in average deal size
New & Existing Computer and Electrical Channel Partners Commitment
Noel Leeming (NZ) has signed an extended and amended long term exclusive supply agreement that includes ‘change of ownership’ and ‘change of control’ clauses
Bing Lee long term agreement signed
HN relationship has been re-energised with strong support demonstrated through TV and catalogue advertising and with strong messages of support from head office to franchisees
Travel Channel - exclusive agreements in place with Stella Travel (Harveyworld Travel, Travelscene) and Flight Centre
Product Enhancement – Flexirent Advantage roll out (for computer retailers) completed in Q4. Feedback from both retail salespeople and customers on the loaner and protect features has been extremely positive.

Electrical Advantage developed and launched Jul 08, with improved product profitability and new features (replacement promise, protection from loss, damage, theft)

Ireland – Rollout to all 14 Harvey Norman Ireland stores completed in April 08. Opex minimised with Australia contact centre processing applications.

Consolidated Income Statement

A$ MILLION YEAR END 30 JUNE	ACTUAL PRO FORMA
	FY 2008 FY 2007
Interest income from receivables Interest expense	109.9 99.7 (44.8) (38.5)
Net Interest Margin	65.1 61.2
Other Net Income	56.9 40.6
Total Net Income	122.0 101.8
Payroll and related expenses Share-based payment expenses - from Company - from Previous Shareholders Bad debt expense Depreciation & amortisation expenses Other expenses	(31.7) (27.3) (1.6) (1.1) (0.6) (0.6) (21.9) (12.9) (3.2) (3.3) (15.7) (13.7)
Total Expenses	(74.7) (58.9)
Net Profit Before Tax	47.3 42.9
Tax Expense	(15.0) (13.6)
Net Profit After Tax	32.3 29.3
Average Earning Receivables	477.1 426.2

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Comments

� FY08 NPAT $32.3M

Net margin $3.9m over FY07:
Avg receivables $51m higher period on period (11.9%)
Interest income declined by 1.28% (as a % of average receivables) as outstandings in lower yielding consumer segments increased. Full impact of recent increases in new business yields will become more evident in FY09.
Interest expense (as % of average receivables) rose by .38% reflecting the higher interest rate environment. Recent increases in borrowing margins will be felt in FY09.
Other net income grew strongly due to the introduction of the interim rental charge, higher interest from cash deposits and better end of term income
Total net income 20% higher than FY07
Expenses increase reflecting new management team members and additional opex to capitalise on new product and channel opportunities. Both these measures were announced in previous results presentations
Bad and doubtful debts (net of recoveries) increased by $9m over the prior year. Personal loan bad debts and an increase in the Allowance for Losses contributed $5.9m and a shift in the mix of lease receivables to more consumer contributed $3.1m.
Tax expense 31.7% due to non-deductibility of share-based 5
expenses

ACTUAL

	ACTUAL
A$ MILLION YEAR END 30 JUNE	FY2008 FY2007
Assets Cash at bank Loans and receivables Allowance for losses Other receivables Unamortised initial direct transaction costs Rental equipment Plant and equipment Deferred tax assets Goodwill Other IntangibleAssets	59.4 56.7
	481.9 471.9 (9.6) (8.2)
	472.3 463.7
	1.0 5.4 32.4 31.8 2.9 3.0 3.9 3.3 6.2 6.1 50.2 50.2 8.0 5.4
Total Assets	636.3 625.6
Liabilities Borrowings Loss Reserve Payables Current tax liability Provisions Deferred tax liabilities	521.2 523.8 (42.9) (36.1)
	478.3 487.7 25.5 19.5 8.2 9.3 1.0 0.9 24.6 24.3
Total Liabilities	537.6 541.7
Net Assets	98.7 83.9
Equity Contributed equity Reserves RetainedProfits	34.3 29.4 (3.6) (5.2) 68.0 59.7
Total Equity	98.7 83.9

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Comments

Allowance for losses increased by $1.4m.
The Loss Reserve (cash retained by funders to cover future losses) rose by $6.8m. This movement comprises:
New monies paid into the Loss Reserve in respect of volumes in FY08: $17.8m
Interest credited to the Loss Reserve: $2.2m
Amounts withdrawn for losses incurred in FY08: $13.2m
Based on current loss projections there is an excess of $6m in the loss reserves

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sh Statements
A$ MILLION YEAR END 30 JUNE	ACTUAL
	FY2008 FY2007
Net Profit After Tax	32.3 23.4
Add Back: Non-cash Items Share-based payment expenses Bad debt expense Depreciation & amortisation expense Tax expense Other	2.2 6.2 21.9 12.9 3.2 3.3 15.0 13.5 3.2 (0.2)
Total Non-cash Items	45.5 35.7
Balance Sheet Movements Net rental received(net of interest & Protect income included in profit) Payments to retailers for assets and loans advanced Gross borrow ing proceeds Principal repayment to funders Net movement in loss reserves Other	258.3 233.4 (292.8) (310.3) 359.7 405.1 (341.2) (332.5) (17.8) (11.5) 0.7 (2.2)
Operating Cash Flow before Tax and Capital Expenditure	44.7 41.1
Tax paid Capital expenditure	(15.9) (10.3) (6.3) (3.5)
Operating Cash Flow Shareholder-related and share based cash payment transactions Dividendspaid	22.5 27.3 - (7.5) (19.1) -
Net Movement in Cash	3.4 19.8
Timing Differences and Operational Matters Net movement on unfunded deals Repayment to funder Timing difference in supplier terms Other sale expenses	(1.7) (0.4) - 4.6 (9.0) - - 1.1

FlexiGroup does not rely on global capital markets to source funds nor does it have any securitisation programmes in place
In challenging funding markets, FlexiGroup secured funding for the Certegy acquisition and also lengthened the overall maturity profile of its portfolio committed undrawn facilities. The majority of these undrawn facilities are on a two year committed basis
Facility terms were lengthened to a minimum of 364 days on an evergreen structure
Each lease funding arrangement is on a non recourse basis to the assets of FlexiGroup and have loss coverage in excess of two times forecast losses
The net interest margin on the existing portfolio is predominantly locked in
The funding margin on new borrowings has recently increased due to increased credit spreads globally and the extended facility terms referred to above
This increase in facility margins will be largely offset through increases in new business rates

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Committed undrawn facilities are expected to be sufficient to fund new lease volumes through to January 2010
FlexiGroup has:
A$759.2m of committed portfolio funding facilities
Outstanding borrowings of A$521.2m which directly fund the lease and loan portfolios
Undrawn committed portfolio funding limits of A$238m

These figures include the additional $100m committed facility for Certegy portfolio funding

In addition to the committed undrawn facility amounts, capital repayments and normal monthly principal amortisations received on previous business written are available to fund new business. The contractual amortisation profile for the borrowing portfolio at 30 June 2008 is:

Within (years) 1 1 – 2 2 – 3 3 - 4 Greater than 4 years	$M 235 154 108 11 13
	521

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Comparable Australian leasing arrears at June 2008 were 5.0% compared to 4.5% at June 2007. This reflects the increasing consumer mix in the portfolio.
Arrears include any contract which is overdue by one day and measures the total principal outstanding
Credit policies relating to consumer loans, the consumer segment in the Ezyway and Flexirent products and consumer leasing in New Zealand have been significantly tightened during the last nine months. This action was taken in light of deteriorating economic conditions and portfolio performance in the loans book.
These tighter credit controls in combination with declining personal loan volumes are expected to lead to a reduction in bad debt expense in 2nd half of FY09.

What is Certegy

A leading provider of retail interest free finance in Australia (Certegy Ezi-Pay)
Consumers use Certegy Ezi-Pay to make scheduled payments for purchases at a zero interest rate
150,000 customers in 2007 used Certegy Ezi-Pay to acquire $250m of purchases ranging from home furnishings, pools, shutters, sheds, renovation, jewellery and medical
Volumes over the last 5 years have a compound annual growth rate (CAGR) of 35%
One of two major cheque guarantee businesses in Australia and New Zealand (offered in 4,500 merchants through more than 16,000 outlets)
Certegy Cheque Guarantee Service accounts for approximately 10% of earnings

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Key differentiators

Differentiated in market as “no interest ever”, positioned as a take home lay-by
3,200 merchants distributing Certegy Ezi-Pay through 5,500 locations
Average Term is 14 months with an average amount financed of $1,667
Fast efficient easy process for merchants – takes less than 5 minutes
Home owners targeted (through the selection of industries such as sheds, building, solar, etc)
High approval rate due to quality customers who have already paid a deposit of between 10% to 25% with the merchant
Highly effective and efficient credit and collection processing centre

Unless otherwise stated, Certegy figures are for calendar year 2007, FlexiGroup are for FY2008

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Volume ~ NPAT (relative Certegy contribution to the Group) Product offering Industry Diversification Customers in database ~ Retail Outlets ~ # of contracts ~ originated per year	Combined (data sourced from different periods) Certegy Ezi-Pay FlexiGroup	Combined (data sourced from different periods) Certegy Ezi-Pay FlexiGroup
Volume ~	$250m $293m pa	~$550m
# of contracts ~ originated per year	150,000 100,000	~250,000
Retail Outlets ~	5,500 5,600	~11,000
Customers in database ~	560,000 350,000	~900,000
Industry Diversification	55% 20% home furnishings 26% renovation 29% jewellery 25% other 90% Computer / Electrical	*non* computer / electrical
Product offering	47% Leases 46% Int. Free 100% Interest Free 90% Leases
NPAT (relative Certegy contribution to the Group)	Given the divergence in periods figures not totalled ~$8m steady state (for 2nd full year (Nov-09 – Dec-10), once portfolio builds to steady state) $32.3m (actual FY08)

Certegy Volumes

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

$276 M $276 M
$248 M
$212 M
$176 M
FY 2006 FY 2007 FY 2008 FY 2009 (F) FY 2010 (F)
CAGR = 5%
CAGR = 19%
----- End of picture text -----

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Comments

Conservative growth projection of 5% for sales volume compared to 19% for the last two years
A business for its time, Certegy’s “no interest ever” Ezi-Pay product achieves growth in a slowing retail environment
FY08 Certegy volume growth +17% ($248m)
16,000 cheque outlets, 5,500 Ezi-Pay outlets - Top 3 retailers account for circa 23% of Certegy’s Ezi-Pay volume
NPAT forecast for 2nd full year circa $8m.

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Volume and NPAT

FY09 Margins are forecast to improve and Flexirent volumes are expected to be below FY08 due to:
Softer economic outlook
Slowing retail environment
Tightening of credit criteria which is impacting approval rates
Reduced personal loan volumes
Portfolio profitability expected to improve due to increases in new business rates, fall in swap rates and lower bad debt expense
Fee income expected to increase
FY09 Certegy volumes expected to be above FY08
Certegy forecast to be $2.2m dilutive in FY09 as portfolio builds
FY09 NPAT outlook softer than FY08, given current economic circumstances and Certegy dilution while the portfolio builds up.
NPAT contribution will be weighted towards the second half of FY09 due to Certegy impact in 1H and lower bad debts in 2H

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Growth Strate gy

Product Development, both in Certegy and Flexirent, will remain a focus with enhancements to existing products and new product opportunities identified
Continued Focus on signing Retail Distributors to long term agreements

People and Quality

Emphasis to continue on Service Quality and People Development

Initiatives

Hewitt’s Employer of Choice Award - engagement survey’s 4th consecutive year of improvement
Contact Centre Quality Assurance scores by operators up to 88% vs 74% LY
Harvey Norman Franchisee In Training program development – Coaching & Customer Service

F2008 Awards

Australian Institute of Training and Development awards Finalist - for Advantage training roll out
Australian Teleservices Association annual Contact Centre of the Year competition – Finalist
Harvey Norman Best Services Supplier – awarded to the New Zeland operation
Harvey Norman Supplier of the Year – awarded to the Victoria State Office

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Certegy business model
Flexirent business model
Illustrative Flexirent deal

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Volume of point of sale financing by market sector

(excluding credit card)

A diversified mix of business

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

With the addition of Certegy, FlexiGroup
The size of the bubble indicates the relative volume in the
volumes will be diversified. Computer /
sector
Electrical volume contributions will be reduced
Bubble Size: = $300M of POS financing
from 90% to 45%
Home Improvement
High Home Funeral Services 12%
Improvement
Furnishings 9%
Floor Covering
Travel
Specialist Retail Certegy
Medical Ezi-Pay Jew ellery 12%
Domestic
Furnishing
Appliances 45% Medical 2%
Other 10%
Watches/
Jewellery Tyre
Dental Computers Loan 8%
Photographic Other 2%
Equip
Dept Stores
FlexiGroup Computer 36%
Domestic
Hardware/
Low Houseware 55%
Low Estimated Retailer Concentration High
Certegy FlexiGroup Other Electrical 9%
price >$500
Proportion of Retail
Purchases with avg ticket
----- End of picture text -----

Source: FY2006 ABS; Euromonitor; IBISWorld

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

At Origination
2 Contract
1 Deposit 3 4
Customer Merchant Funder
Amount due
to merchant
Throughout the Term
5 6
Customer Funder
Customer contractual Funder contractual repayments
repayments
----- End of picture text -----

Merchant offers the customer an Certegy Ezi-Pay interest free payment option, which requires the customer to pay a deposit to the merchant of between 10% - 25%
Customer enters into a contract with Certegy
Certegy pays the Merchant (see example)
Certegy receives funding based on the receivable stream generated by the contract
The customer makes monthly or fortnightly payments to Certegy

Example

$1,600 Purchase amount
($400) Less deposit paid by customer to merchant
$1,200 amount to be repaid by the customer (assumes 12 x $100)
(120) Merchant fee to Certegy (illustrative example10%)
$1,080 Paid by Certegy to the merchant
Additional revenue earned from application & other fees
Certegy repays the loan from funders using payments received from customers

Note: example is illustrative only (merchant fee & deposit amount will vary based on term, amount & asset type) 17 Unless otherwise stated, Certegy figures are for calendar year 2007, FlexiGroup are for FY2008

What is FlexiGroup

Leading market position in micro-ticket (sub A$10,000) transactions
Leading provider of retail pointof-sale lease finance products in Australia and New Zealand
Highly profitable and cash flow generative
Track record of strong, profitable growth

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What is FlexiGroup Good At

Customer origination
Motivating retail partners to sell FlexiGroup products
“Push” sales and marketing culture
Driving repeat business for retail partners
Customer service / interface and processes
Fast, easy and convenient
Investment in systems, processes and customer contact centre
Maximising the customer opportunity

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Leading market position

	�Leading market position
A Sales & Marketing Driven Company Selling Finance	�Customer database with 350,000 profiles and 196,000 active customers
Products	�Retail partner distribution network of ~5,600 retail stores,
	and a sales force of ~11,000 third-party retailer staff
	�Long standing relationship with Harvey Norman
Extensive Distribution Network and Brand Value	�Large, dedicated sales force and marketing team �~11,000 third-party sales staff and ~5,600 retailers
	�Strong, recognisable and trusted brand

� ~65,000 new customers and ~35,000 repeat purchases in Differentiated Business Model FY2008

Track record of strong, profitable growth

� NPAT growing at 38% between FY2005 and FY2008 � NPAT / Total Net Income of 26.5% in FY2008 Strong Growth and High Margin � Strong lease cash flows with upfront financing in excess of amount paid to the retailer

Proven, Transportable Business Model

Additional asset categories and geographic markets
� Proven cross-selling capabilities

3-Sta e Business Model g

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Business Model Hi hli hts g g

1. Origination

New customers acquired – approx 70% of volume
Motivation of retail partners
Up-front cashflow and margin

2. Cross-Sell

Customers lease additional assets (add-on)

3. End-of-term

Trade-up to new asset
Rental extension
Purchase of asset by customer
Return asset to FlexiGroup

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Transactions Flows

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

At Origination: #2 Contract
#3 $
Equipment $
Customer Retailer Equipment Flexirent Funder
#1 title #4
Throughout the Term of the Contract:
#5 $ #6 $
Customer Flexirent Funder
Repayment Repayment
----- End of picture text -----

#1 Salesperson invites the customer to apply at the retail point-of-sale to use a FlexiGroup payment option for the selected equipment or appliance.
#2 Customer enters into a contract with FlexiGroup.
#3 FlexiGroup pays the retailer’s invoice and acquires title to the IT equipment or electrical appliance.
#4 Funder lends FlexiGroup an upfront amount (less the loss reserve portion). The loss reserve represents an amount set aside to cover potential future bad debts.
#5 Throughout the term of the contract, the customer makes monthly rental payments to FlexiGroup.
#6 FlexiGroup passes the majority of those monthly rental payments through to the funder to repay the loan.

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

Customer
21
----- End of picture text -----

*Illustrative Flexirent Deal*
Asset Leased	$2,200
Customer borrows Term (months) Monthly Payment Cost of funds rate	$2,200 36 $91 10%
Present value of payment stream at cost of funds rate	$2,847
Loss reserve	10%
Loss reserve	$285
Net proceeds received from funder	$2,563
($2847 -$285)

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Salesperson offers Flexirent product
Customer calls Flexirent contact centre, completes application and is approved or declined
Flexi pays the purchase price of the assets leased to the retailer plus any commissions due

Illustrative Flexirent Deal

	Opening				Closing
End of	Principal	Payment	Interest	Principal	Principal
Month/Period	Outstanding	Received	Earned (1)	Repaid	Outstanding
1	2,200.00	91.12	52.72	38.39	2,161.61
2 3 4	2,161.61 2,122.25 2,081.92	91.12 91.12 91.12	51.76 50.78 49.77	39.35 40.34 41.35	2,122.25 2,081.92 2,040.57
5	2,040.57	91.12	48.74	42.38	1,998.19
6	1,998.19	91.12	47.68	43.44	1,954.75
12	1,954.75	546.69	262.28	284.41	1,670.34
24 36	1,670.34 958.01	1,093.39 1,093.39	381.05 135.38	712.33 958.01	958.01 -
		3,280.16	1,080.16	2,200.00

Note 1 Interest earned equals opening principal less monthly payment * implicit interest rate /12

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Flexi discloses on the balance sheet the principal outstanding of leases due to the group (gross receivable less unearned income)
The lease outstanding at any point in time is the present value of future rentals calculated using the implicit rate in the lease
The lease fully amortises over its term
Interest income is recognised on a monthly basis using reducing balance methodology
Interest income for the month is found by applying the implicit rate in the lease to the opening principal balance

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Flexi borrows the present value of the rental stream discounted at the cost of funds rate

Illustrative Flexirent Deal

	Opening				Closing
End of	Borrowing	Payment	Interest	Principal	Borrowing
Month/Period	Outstanding	Made	Paid (1)	Repaid	Outstanding
1	2,847.32	$91.12	22.97	68.15	2,779.17
2 3 4	2,779.17 2,710.45 2,641.17	$91.12 $91.12 $91.12	22.40 21.83 21.25	68.72 69.29 69.87	2,710.45 2,641.17 2,571.30
5 6	2,571.30 2,500.85	$91.12 $91.12	20.67 20.08	70.45 71.03	2,500.85 2,429.82
12	2,429.82	$546.69	107.88	438.81	1,991.01
24	1,991.01	$1,093.39	147.41	945.98	1,045.03
36	1,045.03	$1,093.39	48.36	1,045.03	-0.00
		$3,280.16	$432.84	$2,847.32

A separate special purpose vehicle is established for each funder. The customer pays their monthly rental into the SPV bank account
The borrowing is fully repaid over the term by the rentals received from customers
The amount owing to funders is disclosed on the balance sheet and is effectively the present value of future rentals to be received by the funder at the cost of funds rate

Note 1 Interest earned equals opening principal less monthly payment * implicit interest rate /12

Monthly interest expense is determined by multiplying the opening balance of the borrowing by the cost of funds rate (including the credit margin)

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Any bad debt is expensed through the profit and loss account
Any lease more than 120 days in arrears (four payments) is either written off or fully provided for
The bad debt is the present value of future rentals owing discounted at the interest rate implicit in the lease plus any unpaid rentals and fees. From slide 23, the bad debt at the end of month 12 would be $2,034.82 ($1,670.34 plus 4 rentals)
The bad debt for accounting purposes and the bad debt incurred by the funder are not the same figure. This arises because future rentals are discounted at the lease’s implicit rate whilst funder losses are discounted at the cost of funds rate

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To provide a clearer example of how the loss reserve operates, assume that a funding tranche consists of 100 “illustrative Flexirent deals”
Losses run at 4% (4 deals) and occur at months 4, 6, 12 and 24
In all loss cases, four rentals which were due have not been received
Interest rate is 7% and is earnt on the closing balance of the loss reserve

Illustrative Flexirent Deal

				Closing
End of	Opening Loss	Interest	Losses	Loss
Month/Period	Reserve	Earnt	Withdrawn	Reserve
1 2 3	28,473.16 28,639.25 28,806.31	166.09 167.06 168.04		28,639.25 28,806.31 28,974.35
4	28,974.35	169.02	$2,935.76	26,207.61
5	26,207.61	152.88		26,360.48
6	26,360.48	153.77	$2,794.28	23,719.97
12	23,719.97	830.20	$2,355.47	22,194.70
24	22,194.70	1,553.63	$1,409.49	22,338.84
36	22,338.84	1,563.72		23,902.56
		4,924.40	$9,495.01
		7%

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At the time of funding, the funder deducts from the borrowing an amount to cover future losses. In this example, $28,473 is withheld and is the cash cover Flexirent provides
This amount is pre agreed with the funder and expressed as a % of the funded amount
Cash loss reserves are held in bank accounts controlled by the funder. Interest earnt on funds in these accounts is for the credit of Flexi and disclosed in the P&L under interest received
Losses incurred by the funder are withdrawn from the loss reserve. This cash movement does not impact Flexirent’s cash flows
The loss is the present value of future rentals still to be received discounted at the cost of funds rate plus any rentals that are due and have not been received by the funder
If the loss reserve balance reaches zero then all future losses are for the account of the funder
If the loss reserves are not fully used then Flexirent is entitled to those excess monies in the loss reserve

AI assistant

HUMM GROUP LIMITED Investor Presentation 2008

65078_rns_2008-08-25_220dc270-2444-423c-8fe9-8d6e9601c487.pdf

FY 2008 Results Presentation

John DeLano

No recommendation, offer, invitation or advice

Exclusion of representations or warranties

Jurisdiction

Key Highlights

Consolidated Income Statement

Comments

� FY08 NPAT $32.3M

ACTUAL

Comments

What is Certegy

Key differentiators

Certegy Volumes

Comments

Volume and NPAT

Growth Strate gy

People and Quality

Initiatives

F2008 Awards

A diversified mix of business

Example

What is FlexiGroup

What is FlexiGroup Good At

3-Sta e Business Model g

Business Model Hi hli hts g g

1. Origination

2. Cross-Sell

3. End-of-term

Transactions Flows

Illustrative Flexirent Deal

Illustrative Flexirent Deal

Illustrative Flexirent Deal

AI assistant

HUMM GROUP LIMITED — Investor Presentation 2008

65078_rns_2008-08-25_220dc270-2444-423c-8fe9-8d6e9601c487.pdf

FY 2008 Results Presentation

John DeLano

No recommendation, offer, invitation or advice

Exclusion of representations or warranties

Jurisdiction

Key Highlights

Consolidated Income Statement

Comments

� FY08 NPAT $32.3M

ACTUAL

Comments

What is Certegy

Key differentiators

Certegy Volumes

Comments

Volume and NPAT

Growth Strate gy

People and Quality

Initiatives

F2008 Awards

A diversified mix of business

Example

What is FlexiGroup

What is FlexiGroup Good At

3-Sta e Business Model g

Business Model Hi hli hts g g

1. Origination

2. Cross-Sell

3. End-of-term

Transactions Flows

Illustrative Flexirent Deal

Illustrative Flexirent Deal

Illustrative Flexirent Deal

More from HUMM GROUP LIMITED

HUMM GROUP LIMITED Investor Presentation 2008