Pengana Capital Group Ltd. · ASX:PCG

Pengana Capital — H1 FY2025 Earnings Presentation

13 slides from Pengana Capital's earnings presentation, Feb 27, 2025

  1. Slide 1: Investor Presentation

    INVESTOR PRESENTATION PIONEERING TOMORROW, TODAY.

  2. Slide 2: Half Year Review

    fa PENGANA CAPITAL GROUP oe --© HALF YEAR 2 REVIEW

  3. Slide 3: Profitability in H1 FY 2025

    Profitability in H1 FY 2025 Strong profitability in the six months to 31 December 2024: • Interim dividend at 2 cents per share, fully franked at 25%, up 100% from prior comparable period • Return of significant performance fees. • FUM growth largely from higher margin products. • Full six months of

  4. Slide 4: Funds Under Management ("FUM")

    FUNDS UNDER MANAGEMENT (“FUM”)1 • Listed Equity Funds: HISTORICAL GROWTH IN FUM ($B)2 • Stable base over many years $4.5 • High quality brand $3.97 $4.0 • Business now re-positioned to Private Markets: $3.52 $3.56 $3.5 • Potential for outsized FUM growth $3.33 $3.35 $3.27 $3.13 $3.13 $3.05 • Higher

  5. Slide 5: Compelling Track Records with Capacity to Grow

    COMPELLING TRACK RECORDS WITH CAPACITY TO GROW (AS AT 31/12/2024) Performance Since Inception p.a. 13 FUM Indicative Further Fund Benchmark Relative Primary Fund/Vehicle Name Strategy Team Current ($m) FUM Capacity ($bn) % % % Pengana Emerging Companies1 Australian Small Caps Internal 836 Limited 12

  6. Slide 6: Leveraged to Growth and Performance Fees

    LEVERAGED TO GROWTH AND PERFORMANCE FEES ($M) H1 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Management Fees 20.0 35.9 36.0 41.8 41.2 38.1 Performance Fees 12.8 3.1 - 32.7 27.5 6.1 Total Fees 32.8 40.0 36.0 74.5 68.7 68.7 Operating expenses (13.9) (24.2) (21.1) (19.4) (25.0) (21.2) Team Profit S

  7. Slide 7: Annual Gross Fee Margin

    ANNUAL GROSS FEE MARGIN 3.5% 3.23% 3.0% 2.13% 2.5% 2.20% 2.04% 1.97% 2.0% 1.69% 1.56% 1.5% 1.43% 1.33% 1.29% 1.18% 1.0% 1.18% 1.15% 1.12% 1.15% 1.14% 1.18% 1.17% 1.19% 1.18% 1.18% 1.21% 0.5% FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 H1 2025 Mgmt fee/avg mgmt FUM

  8. Slide 8: Balance Sheet

    BALANCE SHEET1 31 Dec 2024 30 Jun 2024 Pengana Capital Group ($’000) ($’000) Cash net of AFSL cash requirements 16,312 4,751 Receivables 16,744 8,420 Payables (14,820) (6,624) Net working capital 18,236 6,547 Investments net of AFSL liquid asset requirements 8,745 7,455 AFSL capital requirements 8,2

  9. Slide 9: Appendix

    fa PENGANA CAPITAL GROUP. APPENDIX

  10. Slide 10: Underlying Profitability

    UNDERLYING PROFITABILITY1 31 Dec 2024 31 Dec 2023 Pengana Capital Group ($’000) ($’000) Management fees and spread 20,039 17,483 Performance fees 12,757 - Operating expenses (13,884) (10,530) Team profit share (11,692) (5,120) Operating EBITDA1 7,220 1,833 Interest and investment income 443 351 Inte

  11. Slide 11: Statutory Profit

    STATUTORY PROFIT 31 Dec 2024 31 Dec 2023 Pengana Capital Group ($’000) ($’000) Underlying profit before tax1 8,173 3,163 Less: Loan share plan interest income (1,039) (1,189) Amortisation and non-cash items (1,382) (2,000) FX in other comprehensive income - (5) Investment gains in other comprehensiv

  12. Slide 12: Disclaimer

    DISCLAIMER This presentation has been prepared by Pengana Capital Group Limited (ABN 43 059 300 426) (“PCG”). The information in this presentation is current as at 27 February 2025. This presentation is not an offer or invitation for subscription or purchase of securities or a recommendation with re

  13. Slide 13: For More Information

    FOR MORE INFORMATION PENGANA.COM PENGANA CAPITAL GROUP LIMITED Suite 1, Level 27, CLIENT SERVICE ABN 30 103 800 568 Governor Phillip Tower, T: +61 2 8524 9900 AFSL 226566 1 Farrer Place, E: clientservice@pengana.com Sydney, NSW, 2000

Pengana Capital Group — H1 FY2025 Earnings Presentation on 6ix