Slide 1: Half-Year Results 2026
Half-Year Results 2026. Superloop Limited (ASX:SLC) Wednesday, 18 February 2026
Slide 2: Disclaimer
Disclaimer. No reliance No offer to acquire Superloop shares To the maximum extent permitted by law, the information contained in this presentation is given The information in this presentation is not an offer or recommendation to purchase or subscribe for without any liability whatsoever being acce
Slide 3: Winning...
Awarded fastest fixed network by H1 2025 H2 2025 Excellent 4.7 out of 5 Winning. . . 3 HY26 Results | Superloop Limited
Slide 4: Agenda
Agenda. 1 2 3 4 5 6 7 Introduction Operational Financial FY26 Acquisition Q&A Appendices & Highlights Update Performance Outlook 4 HY26 Results | Superloop Limited
Slide 5: 1H26 Financial Highlights
1H26 Financial Highlights. Underlying Net Profit Gross Operating Customers 1 Revenue EBITDA2 Cash Flow3 After Tax 805k $317.6m $55.8m $5.1m $53.5m 21% 23% 46% $12.9m 96% Conversion Com parisons in this presentation are to 1H25 unless otherwise s tated 1 Refer appendices for further details on catego
Slide 6: Strong momentum drives FY26 upgrade
Strong momentum drives FY26 upgrade. Industry leading customer growth. Acquisition of Lightning Broadband accelerates Smart Communities strategy SUSTAINED CONSUMER BUSINESS WHOLESALE TRACKING ACQUISITION CUSTOMER GROWTH REVENUE REVENUE REVENUE POSITIVELY TO OF LIGHTNING 3-YEAR PLAN BROADBAND 74K 29%
Slide 7: Strong market share gains and accelerating earnings
Strong market share gains and accelerating earnings. Significant operating leverage – Underlying EBITDA uplift +46% on revenue up 23%. Result demonstrates the scalability of our platforms. Customers1 (000) Revenue ($m) Underlying EBITDA2 ($m) 1H 2H EBITDA % 1H 2H +21.2% 17.6% vs PCP 16.9% 805 731 66
Slide 8: Broad based revenue uplift across all segments
Broad based revenue uplift across all segments. Strong revenue growth in Consumer (+29%) from record organic volumes and ARPU expansion. Business growth now strengthening and sustained Wholesale growth as we enable Challengers to take share from legacy providers. Consumer Revenue ($m) Business Reven
Slide 9: Segment Revenue & Gross Margin
Segment Revenue & Gross Margin. Business and Wholesale represent 46% of gross margin with improving margin quality Group Revenue ($m) Gross Margin ($m) 14% 26% Gross YoY Segment Margin Change 1H26 Consumer (%) (%) Business 17% Wholesale $317.6 69% $111.9 54% Consumer 27.5% +0.4% Business 41.9% +2.1%
Slide 10: Record organic Customer growth in Consumer segment
Record organic Customer growth in Consumer segment. Successfully responded to market changes with 49k net new customers in the half 1H26 Results Sustained strong revenue growth ($m) Record organic Customer growth (000) 1H25 1H26 ($m) ($m) YoY (%) 49 32.5% 46 Revenue 170.3 219.7 29% 28.4% Direct cost
Slide 11: Wholesale revenue up 28% as we enable Challengers
Wholesale revenue1 up 28% as we enable Challengers. Acceleration in customer growth in last 2 months sets Wholesale up for a strong 2H26 1H26 Results 1 Strong revenue growth ($m) Revenue Bridge: 2H25 vs 1H26 ($m) 1H25 1H26 U.Revenue ($m) U.GM% 4.8 46.7 ($m) ($m) YoY (%) 45.0 (1.0) (2.1) Revenue – 36
Slide 12: Business revenue showing stronger growth, up 4%
Business revenue showing stronger growth, up 4%. Continued momentum in Smart Communities and wins in Secure Connectivity driving improved margins Returning to stronger revenue growth with 1H26 Results New Business logos improving gross margin 1H25 1H26 Revenue ($m) GM% ($m) ($m) YoY (%) Revenue 52.2
Slide 13: Leading the Challenger segment, strong net adds (+74k) in 1H26
Leading the Challenger segment, strong net adds (+74k) in 1H26. Consumer segment responded to new market changes with record 49k new customers1 in 1H26 Consumer Superloop Group (000) Consumer (000) 74 805 • Added 49k new customers in 1H26 and 75k over the 67 49 435 last 12 months 209 664 26 37 360 •
Slide 14: Operational Update
Operational Update. 1H26 Introduction & Highlights Operational Update Financial Performance FY26 Outlook Acquisition Q&A Appendices
Slide 15: Growth in Superloop brand metrics during 1H26
Growth in Superloop brand metrics during 1H26. Across all key indicators of brand strength, Superloop has momentum Prompted Brand Awareness (Prompted) Gr owth in Growth in Prompted Awareness Awareness Awareness H1 FY25 v H1 FY26 Awareness improved Since 1H25, Superloop fuelled by above-the-line has
Slide 16: Digital support models, enabling scale and efficiency
Digital support models, enabling scale and efficiency. Customer inbound support calls per customer down 30% over last 18-months AI/Workflow automation is redefining customer Opportunity to further reduce support voice calls support touchpoints 30% reduction Refreshify/Xray interactions Teddy/Mo webc
Slide 17: High-demand products leveraging our infra-on-demand platform
High-demand products leveraging our infra-on-demand platform. Powerful scale as we leverage our assets CONSUMER BUSINESS WHOLESALE Internet, Data & nbn Products Mobile & Voice Products: SD-WAN, SASE, Security & Managed WAN Managed Wi-Fi and On-net Fibre-to-th e-Premise White-label Solutions Professi
Slide 18: Our Network
Our Network. TO SINGAPORE Increasing traffic on our network >100,000 fibre route km across international networks 1 creates operating leverage > 2,400 > 2,500 km On-net data centres / sites in of owned strategically Australia / worldwide located CBD and metro including over 1,900 on-net fibre within
Slide 19: Financial Performance
Financial Performance. 1H26 Introduction & Highlights Operational Update Financial Performance FY26 Outlook Acquisition Q&A Appendices
Slide 20: 1H26 Financial Performance
1H26 Financial Performance. Strong revenue growth, disciplined opex control and sharply expanded earnings growth. Cash generation increasing Change $m 1H25 1H26 Change % ($m) Revenue 257.5 317.6 +60.1 23.3% Consumer up 29% from record net adds, Wholesale up 28% Gross Margin 88.0 111.9 +23.9 27.2% Ah
Slide 21: Gross margin uplift (+$23.9m) with all segments contributing
Gross margin uplift (+$23.9m) with all segments contributing. Gross Margin ($m) Gross Margin bridge: 1H26 v. 1H25 ($m) Gross Margin ($m) GM % 111.9 2.0 7.6 38.0% Wholesale GM 65.9% 28.8 (+5.6% vs. PCP) 35.3% 35.2% 35.2% 14.3 34.4% 34.2% 88.0 33.5% +$23.9m 21.1 Higher quality Business GM 41.9% 111.9
Slide 22: Disciplined opex control and efficient scaling
Disciplined opex control and efficient scaling. Digital and AI investments demonstrating scalable operating model with flat employee expenses Marketing growth delivered record consumer customer growth and increased brand awareness Operating expense by Type ($m) Opex/Revenue 1 21.0% 18.7% 18.5% +$8.6
Slide 23: Accelerating our digital/AI investments
Accelerating our digital/AI investments. Targeted capex driving efficiency, improved customer experience and operating leverage FY26 capex guidance of $32m-$35m weighted 1H26 Capex Capex/Revenue towards 1H26. 1H26 capex of $21.0m1 included: • Digital & Transformation: $5.2m invested Category ($m) in
Slide 24: Quality earnings enabling increased cash generation
Quality earnings enabling increased cash generation. Free cash flow up 102% to $32.2m. Group has strong balance sheet and funding position. Metric 1H26 Gross operating cash flow of $53.5m, Strong Free Cash Flow of $32.2m, conversion of 96% up 102% YoY Gross Operating Cash Flow 1 $53.5m * Full cash f
Slide 25: FY26 Outlook
FY26 Outlook. Introduction & Highlights Operational Update Financial Performance FY26 Outlook Acquisition Q&A Appendices
Slide 26: Strong progress on Double Down strategy
“DOUBLE DOWN“ PROGRESS Strong progress on Revenue run-rate Jun-26: Double Down 1H26: On Track $700m1 strategy, with Underlying EBITDA 3 run-rate Jun-26: exceptional organic 1H26: On Track Mid-high teens %2 growth to date. NPATA >$0 100% On track to meet targets Net Profit after Tax >$0 100% 1 June 2
Slide 27: Upgraded guidance range for FY26
Upgraded guidance range for FY26. Growth momentum and operating leverage lift FY26 Outlook Upgraded FY26 guidance FY26 Guidance FY25 Actual • Underlying EBITDA1 of $112m-$120m (21%- 30% growth on FY25). Previously $109m- $117m Underlying EBITDA1 $112m - $120m $92.2m • Capital expenditure guidance re
Slide 28: Acquisition of Lightning Broadband
Acquisition of Lightning Broadband.
Slide 29: Our Smart Communities Journey
Our Smart Communities Journey. Acquisition of Lightning Broadband accelerates our scale Expands Smart Communities into Fibre to the Expansion into Retirement Living Premise (FFTP) market & Lifestyle Communities RSP-ready Adds end-to-end capability as a Statutory Infrastructure Wholesale Provider (SI
Slide 30: Accelerating Superloop into a scaled FTTP Challenger
Accelerating Superloop into a scaled Fibre to the Premise (FTTP) Challenger. Acquiring 54,000 lots, with long-term organic growth and annuity style revenues A scaled, national Enhanced market Infrastructure Leverages Strong financials: FTTP network standing with ownership, with Superloop’s existing
Slide 31: Acquisition Overview
Acquisition Overview. • Superloop has signed a binding Share Purchase Agreement (SPA) with the shareholders of Lynham Networks Pty Ltd (Lightning Broadband) to acquire 100% of the company (the Acquisition) for cash consideration of $165 million Acquisition (subject to completion adjustments) Price &
Slide 32: Lightning Broadband
Lightning Broadband. Wholesale network with ~54,000 contracted lots and 14,000 active services ~14k ~24k ~30k ~54k Active Services (SIOs) Built lots Contracted book Total contracted Lots Lynham Networks (Infrastructure owner) Lynham Networks (Wholesale Fibre-to-the-Premises access) • Builds and main
Slide 33: Acquisition strengthens our market reach and standing
Accelerating our market standing • Lightning historically strong in Multi-Dwelling Units (MDU’s) • Superloop brings expertise in broadacre, built-to-rent (BTR), Acquisition Complementary and purpose-built student accommodation (PBSA) market segments • Post acquisition, strongly positioned to compete
Slide 34: Lightning Broadband – Strong revenue growth, with annuity style cashflows
Lightning Broadband – Strong revenue growth, with annuity style cashflows. STRONG REVENUE GROWTH REVENUE SPLIT Long-dated, inflation-resilient cashflows 30% CAGR • High recurring revenue from wholesale access and retail overlays. • Stable occupancy rates drive consistent cashflow. 15% • Long economi
Slide 35: Acquisition provides long-term organic growth
Acquisition provides long-term organic growth. Completing build of contract book would double size of the current built network Future contracted Contracted order book SUPERLOOP PRO FORMA LOTS AFTER ACQUISITION (000) network enables growth 2.8x Active Services • Developers commit to stages, often ye
Slide 36: Synergy Realisation
Melbourne – Locations mapped to Superloop fibre Synergy Realisation. Superloop’s fibre network and operations enable strong synergies ~$5 million of annualised cost synergies expected to be realised within 3-years • Recently purchased Uecomm network will enable existing and future sites to be connec
Slide 37: Acquisition Summary
Acquisition Summary Accelerating Superloop into a scaled FTTP challenger Provides increased scale and stronger market standing A scaled FTTP network Provides long-term, contracted organic revenue growth challenger. Superloop assets enable efficient integration, synergies and improved ongoing economi
Slide 38: Q&A
Q&A. Introduction & Highlights Operational Update Financial Performance FY26 Outlook Acquisition Q&A Appendices
Slide 39: Appendices
Appendices. Introduction & Highlights Operational Update Financial Performance FY26 Outlook Acquisition Q&A Appendices
Slide 40: Group Income Statement
Group Income Statement. Reported Underlying $m 1H25 1H26 Change 1H25 1H26 Change Revenue 257.50 317.60 60.10 259.10 320.71 61.61 Direct Costs (169.53) (205.72) (36.18) (169.53) (205.72) (36.18) GROSS MARGIN 87.97 111.89 23.92 89.56 114.99 25.43 Other Income 0.62 1.38 0.77 0.62 1.38 0.77 Operating Ex
Slide 41: 1H26 Reported to Underlying NPAT
1H26 Reported to Underlying NPAT. Share Based Amortisation of 1H26 Origin Share Restructuring 1H26 $m Consideration Payments - Costs Transaction Costs Acquired Reported Employees Intangibles Underlying Revenue 317.60 3.10 320.71 Direct Costs (205.72) (205.72) GROSS MARGIN 111.89 114.99 Other Income
Slide 42: Half-Year Gross Margin (Reported) by Segment
Half-Year Gross Margin (Reported) by Segment. $m 1H23 2H23 1H24 2H24 1H25 2H25 1H26 Revenue - Reported Consumer 77.91 101.92 118.87 145.69 170.33 193.37 219.68 Business 48.15 51.63 52.60 51.44 52.19 52.67 54.27 Wholesale 21.80 22.11 22.97 25.06 34.99 42.93 43.64 TOTAL REVENUE 147.86 175.67 194.43 22
Slide 43: Reported to Underlying Wholesale GM
Reported to Underlying Wholesale GM. 1H25 1H26 Origin Origin $m Reported Share-Based Underlying Reported Share-Based Underlying Consideration1 Consideration1 Revenue 34.99 1.60 36.58 43.64 3.10 46.75 Direct Costs (13.88) (13.88) (14.89) (14.89) GROSS MARGIN 21.11 1.60 22.71 28.76 3.10 31.86 Gross Ma
Slide 44: Cash flow
Cash flow. $m 1H25 1H26 Change Change % Gross operating cash flow1 37.30 53.45 16.15 43.3% Transaction costs (6.72) (0.68) 6.04 (89.8%) Taxes paid - (0.20) (0.20) nm Cash inflow from operating activities 30.58 52.57 21.99 71.9% Capex (15.02) (20.99) (5.98) 39.8% Investing cash flows on IRU - (26.38)
Slide 45: Underlying EBITDA to net cash movement
Underlying EBITDA to net cash movement. 35.0 (26.4) 55.8 (2.3) 53.5 (21.0) (11.3) (0.7) 0.5 32.2 (10.5) (3.7) (3.0) (2.9) 9.4 Underlying Gross OpCF Gross Capex Transaction Other FCF Free Cash Flow Net loan IRU Frontier Prior Lease Establishment Other finance Net movement EBITDA 1 Conversion Operatin
Slide 46: Balance Sheet
Balance Sheet. $m 30 June 25 31 December 25 Cash & Cash Equivalents 74.46 83.90 Trade and Other Receivables 50.32 47.97 Other Current Assets 23.14 28.50 Property, Plant & Equipment 135.21 136.30 Rights and Licences 49.13 69.51 Other Intangible Assets 50.70 48.87 Goodwill From Acquisitions 167.28 174
Slide 47: Superloop continues its fast growth in the nbn market
Superloop continues its fast growth in the nbn market. Group nbn market share increased 1.5% to 7.0% 1. Added 127K new nbn services in 12-months to 30 September 2025. Group nbn net adds for 12 months ending 30 Sept 2025 1 nbn Challenger Market Share and Superloop Share 1 7.0% Size of Australian nbn
Slide 48: Customer Numbers: Additional 1H26 Detail
Customer Numbers: Additional 1H26 Detail. Customers Customers (k) Growth (k) 900 800 31-Dec 30-Jun 30-Sep 11-Nov 31-Dec 1Q26* 1H26 2024 2025 2025* 2025* 2025 700 600 Customers (k) Consumer 359.7 385.4 411.2 418.2 434.8 25.8 49.4 500 400 300 Business 99.4 107.4 110.2 111.7 112.3 2.8 4.8 200 100 Whole
Slide 49: Customer number definition
Consumer Unique customers on various access technologies such as nbn , Superloop Fixed Wireless and mobile. A single customer with multiple services (such as broadband, VoIP and mobile) only counts as a single customer. Business Unique end business locations on various access technologies such as Su
Slide 50: Thank you
Thank you. Superloop Limited investor@superloop.com https://investors.superloop.com