OFX Group Ltd. · ASX:OFX
OFX — H1 2027 Earnings Presentation
30 slides from OFX's earnings presentation, Nov 10, 2026
Slide 1: 1H27 financial results & outlook
1H27 financial rsonal use only results & outlook 10 November 2026 OFX Group Limited ACN 165 602 273
Slide 2: Agenda
Agenda rsonal use only 1. Overview 2. Performance update 3. 1H27 financials 4. FY27 priorities & outlook 5. Q&A 6. Appendices 2
Slide 3: Overview
rsonal use only Overview Skander Malcolm Chief Executive Officer and Managing Director 3
Slide 4: Overview
Overview rsonal use only Strategic delivery Returning to profitability Strategic review continuing Top line momentum Discussions continue with Equals on a non-exclusive Positive revenue growth (QoQ) delivered across the last two basis. quarters against backdrop of weak business and consumer confiden
Slide 5: Performance update
rsonal use only Performance update Skander Malcolm Chief Executive Officer and Managing Director 5
Slide 6: Challenging trading conditions through 1H27; business momentum returning
Challenging trading conditions through 1H27; business momentum returning rsonal use only Net Operating Income Underlying EBITDA ARPC $89.2m $4.0m $4.0k (15.0) % v PCP (72.4)% v PCP (4.0)% v PCP (2.7)% v 2H26 (62.6)% v 2H26 (1.7)% v 2H26 NOI margin Net Available Cash Non-FX Wallet revenue balances 64
Slide 7: Ongoing softer macro environment impacting FX volumes
Ongoing softer macro environment impacting FX volumes Fee and trading1 income linked to business confidence 1H27 Volatility3 in line with lower FY26 trend rsonal use only 1H27 Fee & trading income, $m Monthly Average 0.6 Ø 15 ~$15.5m 1H27 22.0 20.0 FY25: 80 days 18.0 0.0 FY26: 46 days 16.0 1H27: 26
Slide 8: Corporate multi-product adoption driving stronger client retention
Corporate multi-product adoption driving stronger client retention Multi-product adoption On an annual basis, On a quarterly basis6, continues to grow OFX Active Clients steady OFX Active Clients growing rsonal use only NCP Clients with >1 Non-FX Product1, % LTM Corporate Active Clients4, #k QTR Cor
Slide 9: Multi-product FX clients deliver 2x revenue and 3x lower lapse rate
Multi-product FX clients deliver 2x revenue and 3x lower lapse rate (v FX only) Multi-product FX2 clients’ ARPC is ~2x that of Multi-product FX clients are ~3x less likely to lapse in the FX only clients following quarter rsonal use only OFX only, Quarterly ARPC1, $k OFX only, Quarterly Inactive Cli
Slide 10: Revenue sources scaling: annualised Non-FX is now $4m+, interest is $6m+
Revenue sources scaling: annualised Non-FX is now $4m+, interest is $6m+ Non-FX revenue, $k +178.9% ~$1.6m rsonal use only • $1m Non-FX revenue in 1,020 2Q27 annualising to >70% Corporate Active Clients migrated $4.1m through 3Q26 778 • $1.6m 2Q27 interest 479 income on growing wallet balances, annu
Slide 11: 1H27 financials
rsonal use only 1H27 financials James Georgeson Chief Financial Officer 11
Slide 12: A resilient business
A resilient business Fee and trading income 1H26 2H26 1H27 V 1H26% • Fee and trading income down 15.5% v PCP, reflecting impact of subdued rsonal use only Turnover ($bn) 19.1 19.5 19.6 2.3% business confidence driving lower cross-currency activity and lower margins, partly offset by growth in Non-FX
Slide 13: Underlying EBITDA impacted by lower trading, partially offset by lower costs
Underlying EBITDA impacted by lower trading, partially offset by lower costs 1H27 Underlying EBITDA walk v PCP, $m 14.5 rsonal use only (8.6) 4.0 1.1 (6.8) 4.8 1.2 (2.6) (0.6) (0.7) 1.7 1H26 Underlying Volumes Margins Non-FX Treasury Fee & Interest Incremental Lower Other 1H27 EBITDA Revenue Commiss
Slide 14: 1H27 cost actions positioning for stronger profitability in 2H27
1H27 cost actions positioning for stronger profitability in 2H27 Underlying operating expenses, $m • Driven by employment expenses down 7.9% reflecting (5.9)% v PCP lower FTEs post cost actions (down 65 FTE) and lower performance incentives rsonal use only -5.9% Operating expenses 90.5 • $9.4m promo
Slide 15: Investment phase peaked in 1H27, returning to cash generation in 2H27
Investment phase peaked in 1H27, returning to cash generation in 2H27 Net Available Cash movement, $m • Net Cash Held $63.3m, down $8.3m v 2H26, Net Cash Held reflecting operating cash generation of $3.0m rsonal use only offset by continued investment in the platform, 49.6 3.0 $63.3m payment of leas
Slide 16: FY27 priorities & outlook
rsonal use only FY27 priorities & outlook Skander Malcolm Chief Executive Officer and Managing Director 16
Slide 17: Strategic pivot complete, return to profitability underway
Strategic pivot complete, return to profitability underway rsonal use only FY27 returning to positive FY28 continuing positive operating leverage operating leverage • 2H27 NOI growth 2-3% • FY28 NOI growth 3-5% • Assumes current macro conditions • Assumes similar macro conditions to FY27 • FY27 oper
Slide 18: Q&A
rsonal use only Q&A 18
Slide 19: Appendices
rsonal use only Appendices 19
Slide 20: Performance was primarily impacted by lower volumes
Performance was primarily impacted by lower volumes Active ATVs × Transactions = Turnover × Margin = Revenue ÷ Clients = ARPC rsonal use only Consumer $23.1k 161.3k $3.8bn 0.68% $26.2m 72.6k $0.7k +4.1% v PCP (13.0)% v PCP (6.4)% v PCP (0.06)bps v PCP (14.5)% v PCP (14.3)% v PCP (1.3)% v PCP Corpora
Slide 21: B2B revenue up 1.5%, B2C revenue down 6.8% (v 2H26)
B2B revenue up 1.5%, B2C revenue down 6.8% (v 2H26) B2B B2C Corporate Enterprise Consumer rsonal use only Revenue, $m Revenue, $m Revenue, $m (1.3)% 69.3 63.9 65.4 55.8 (6.8)% 55.0 +32.0% 34.5 33.5 30.6 28.1 26.2 6.5 6.9 5.1 5.3 4.4 1H25 2H25 1H26 2H26 1H27 1H25 2H25 1H26 2H26 1H27 1H25 2H25 1H26 2H
Slide 22: Difference between annual LTM active clients & quarterly OFX active clients
The difference between annual LTM active clients & quarterly OFX active clients Extract of slide 8 rsonal use only Number Component of Active Clients Trading period of clients (#’k) LTM Corporate Active Clients 27.9 12 months Firma and OLS Active Clients (7.6) (Oct-25 to Sep-26) LTM OFX Active Clien
Slide 23: NOI margin
NOI margin rsonal use only NOI margin1 NOI margin walk 0.72% 0.55% 0.68% 0.66% (0.05)% 0.64% 0.64% 0.02% 0.46% (0.03)% (0.01)% 0.59% (0.02)% 0.54% 0.55% 0.47% 0.46% 1H25 2H25 1H26 2H26 1H27 1H26 Increase Corporate Consumer Treasury, Interest 1H27 in same including pricing on Fee and on wallet NOI ma
Slide 24: Intangible investment
Intangible investment 28 10.6% 11.0 Intangible investment, $m 10.5 26 9.9% 10.0 rsonal use only 24 9.5 9.0 22 8.3% 8.4% 8.5 20 19.4 8.0 18.9 19.0 7.5 18 7.0 6.5 16 6.0 14 5.5 5.0 12 4.5 10 9.8 4.0 3.5 8 3.0 Product 6 2.5 Client experience 2.0 Risk, data & security 4 1.5 Payments 1.0 2 Firma 0.5 0 0.
Slide 25: Metrics
Metrics 2H26 Measure 1H25 2H25 1H26 2H26 1H27 V% V% Half year Half year Half year Half year Half year PCP 2H26 Corporate Turnover $bn 12.2 12.3 12.7 12.7 13.2 4.3% 4.0% Cross currency (A) $bn 10.2 10.2 10.1 9.3 8.9 (11.0)% (3.6)% Same currency $bn 2.0 2.0 2.6 3.4 4.2 62.0% 24.1% Total client revenue
Slide 26: Income statement
Income statement $m 1H25 2H25 1H26 2H26 1H27 V% V% Half year Half year Half year Half year Half year PCP 2H26 Fee and trading income 114.5 107.4 109.1 94.8 92.2 (15.5)% (2.7)% rsonal use only Net Operating Income 111.2 103.7 105.0 91.6 89.2 (15.0)% (2.7)% Employee expenses 57.4 50.9 61.5 53.7 56.7 (
Slide 27: Balance sheet
Balance sheet 31-Mar-25 30-Sep-25 31-Mar-26 30-Sep-26 Cash held for own use 51.0 47.1 49.6 36.6 Cash held for settlement of client liabilities 264.7 227.4 364.3 409.8 rsonal use only Deposits due from financial institutions 44.9 49.8 59.7 59.6 Derivative financial assets 33.1 36.7 32.8 28.0 Other as
Slide 28: Restatements
Restatements FY26 restatements are a result of adjustments made to forwards data upon migration and alignment to OFX 2.0 New Client Platform rsonal use only 1. Group Turnover ($bn) has been restated to include 2.0 forwards turnover. Turnover ($bn) Group Original Restated V 1H26 19.1 19.1 - 2H26 19.2
Slide 29: Glossary
Glossary • • rsonal use only Active Client: Number of clients that entered into a Transaction with OFX during the stated period, and OFX Active Clients: Clients that are not Online Sellers and not originated from the Firma acquisition if not stated, the preceding 12-month period • OLS: Online Seller
Slide 30: Disclaimer
rsonal use only The material contained in this document is a presentation of general information about OFX Group Limited (Company) and its activities current as at 10 November 2026. Material is provided in summary only and does not purport to be complete. The material contained in this document has