Slide 1: FY25 Investor Presentation
FY25 Investor Presentation 26 August 2025 Mike Emmett CEO and Managing Director Mark Shanahan CFO
Slide 2: Strengthening Footprint, Delivering Growth
STRENGTHENING FOOTPRINT, DELIVERING GROWTH Exceptional shareholder returns underpinned by AUB’s evolution into a leading global insurance broker Underlying NPAT1 Revenue3 FY25 FY21 +32.3% CAGR 17% 5% 11% …expanding scale and A$651.8 capability across the A$1.5bn mn broking value chain 21% 62% 84% FY
Slide 3: FY25 Performance Overview
FY25 PERFORMANCE OVERVIEW UNPAT growth of 17.1% to AUD 200.2m, above top end of guidance Strong UNPAT growth of 17.1% to $200.2m, expanded margin to 34.7% Completed strategically important acquisitions of Pacific Indemnity, Momentum and Movo together with sixteen other smaller acquisitions and bolt-
Slide 4: FY25 Financial Highlights
FY25 FINANCIAL HIGHLIGHTS Revenue growth and margin expansion has increased profits for AUB shareholders FY25 FY24 Performance Highlights Revenue1 $1,501.3mn $1,331.7mn ▪ Revenue growth across all business divisions (+12.7%) EBIT Margin1 34.7% 34.0% ▪ Continued progress toward EBIT margin targets wi
Slide 5: FY25 Financial Performance
FY25 FINANCIAL PERFORMANCE Underlying NPAT grew 17.1% from above-market organic growth of 11.9% and 12.1% contributed by acquisitions FY24 to FY25 Underlying NPAT1 Breakdown (AUD mn) 17.1% 0.7 (0.5%) 11.0 20.6 200.2 (6.4%) 12.1% Accrual change for bonuses realigned Includes: from calendar to 20.3 Pa
Slide 6: Group Funding
GROUP FUNDING Balance Sheet strength to support growth strategy Debt Funding Assets vs share of Debt at 30 Jun’25 1 (AUD mn) AUD 375.0mn Cash & Undrawn Debt • AUB Group debt facility increased by AUD 30 Jun’25 250mn to AUD 1,107mn in January’25 to (AUB Group Ltd) fund Tysers earn out and for general
Slide 7: Divisional Performance
Divisional Performance
Slide 8: FY25 Divisional Performance
FY25 DIVISIONAL PERFORMANCE Strong Revenue and underlying Profit growth across all Divisions, especially BizCover and Agencies Vs. FY24 AUSTRALIAN OPERATING comparative BIZCOVER AGENCIES NEW ZEALAND INTERNATIONAL4 period BROKING BUSINESSES1,2 $611.1mn $105.8mn $220.5mn $97.9mn $465.9mn $1,501.3mn Re
Slide 9: Australian Broking
AUSTRALIAN BROKING Revenue growth of 8.4% and margin expansion to 37.8% with continued portfolio optimisation to enhance margins EBIT Margin Key Metrics AUD 611.1mn Revenue1 37.8% EBIT Margin1 AUD 231.0mn EBIT1 Target FY25 Performance +8.4% on FY24 +100bps on FY24 +11.4% on FY24 40% Australian Broki
Slide 10: BizCover
BIZCOVER Scale benefits and improving international performance drive margin uplift EBIT Margin Key Metrics AUD 105.8mn Revenue 45.8% EBIT Margin AUD 48.4mn EBIT Target FY25 Performance +15.0% on FY24 +380bps on FY24 +25.4% on FY24 50% EBIT Australia (AUD mn)1 Australian Active Clients (all channels
Slide 11: Agencies
AGENCIES Excellent revenue growth of 25.1% and margin expansion to 44.2% while continuing to invest in scaling start-up agencies Upgraded EBIT Key Metrics AUD 220.5mn Revenue1 44.2% EBIT Margin1 AUD 97.6mn EBIT1 Margin Target FY25 42.5% EBIT Margin Ex. Profit Comms Performance +25.1% on FY24 +160bps
Slide 12: New Zealand
NEW ZEALAND Revenue growth 10.3%, with EBIT growth funding strategic investment in new growth team EBIT Margin Key Metrics AUD 97.9mn Revenue1 34.4% EBIT Margin1 AUD 33.7mn EBIT1 Target FY25 Performance +10.3% on FY24 -210bps on FY24 +4.1% on FY24 42% FY21 to FY25 AUB Share PBT (AUD mn)2 2.2% 22.7 2
Slide 13: International
INTERNATIONAL2 Strong Revenue and Profit growth with some margin impact from one-off bonus period re-alignment EBIT Margin Key Metrics AUD 465.9mn Revenue1 23.5% EBIT Margin1 AUD 109.6mn EBIT1 Target FY25 Performance +13.3% on FY24 -70bps on FY24 +10.2% on FY24 32% FY24 to FY25 EBIT Breakdown (AUD m
Slide 14: International - Update
INTERNATIONAL - UPDATE Progress since Tysers acquisition announced in May 2022 Tysers Wholesale Global Hubs UK Retail Appointed new CEO, and market-facing structure simplified: - Singapore: Senior broker appointments and - Separated from Wholesale and secondment from London appointed new CEO 1. Mari
Slide 15: Ambition & Outlook
Ambition & Outlook
Slide 16: Medium-Term Margin Ambitions Remain On-Track
MEDIUM-TERM MARGIN AMBITIONS REMAIN ON-TRACK Margin improvement continues to be a significant opportunity. Scope for future upgrades FY25 Actual EBIT Margin EBIT Target Approach to deliver (∆ to FY19 or acquisition) Margin Ongoing portfolio optimisation, equity step- Australian Broking 37.8% +990bps
Slide 17: FY26 Execution Priorities
FY26 EXECUTION PRIORITIES AUB will continue to evolve its priorities with an ongoing focus on portfolio optimisation, technology delivery, and executing on International strategy Continue to optimise portfolio in Australia and New Zealand to enhance margins Focus on scaling new and recently establis
Slide 18: FY26 Outlook
FY26 OUTLOOK Underlying NPAT AUD 215.0 - 227.0mn, growth of 7.4% - 13.4% vs pcp FY25 to FY26 Underlying NPAT1 Breakdown (AUD mn) FY25 to FY26 Underlying Earnings per Share5 (cents) 7.4% - 13.4% 5.5 – 6.5 (1.9) 215.0 – 227.0 11.2 – 22.2 (0.9%) 7.4% - 13.4% 2.7% - 3.2% 12.6 – 22.9 184.4 – 194.7 200.2
Slide 19: Questions?
Questions? Mike Emmett CEO and Managing Director Mark Shanahan CFO
Slide 20: Closing
Closing Mike Emmett CEO and Managing Director
Slide 21: Appendices
APPENDICES A FY25 Detailed Financial Results Appendices B AUB Group Business Overview C AUB Group Portfolio Overview 21
Slide 22: A. FY25 – Detailed Financial Results
Appendices A. FY25 – Detailed Financial Results
Slide 23: FY25 Divisional Performance Breakdown
FY25 DIVISIONAL PERFORMANCE BREAKDOWN FY24 to FY25 Underlying NPAT1 (AUD mn) 17.1% 7.3 0.5 14.7 200.2 16.6 4.0 15.4 171.0 Pre-Tax FY24 Australian Broking BizCover Agencies New Zealand International2 Tax FY25 Broking 1. Underlying Net Profit After Tax is the key measure used by management and the boa
Slide 24: Australian Broking
AUSTRALIAN BROKING Profit contribution to AUB Group – Pre-tax ▪ Pre-tax profit increased 12.8% to AUD 135.6mn (FY24: AUD 120.2mn) FY25 FY24 Movement Movement (%) (AUD mn) Commission and fee income (net) 529.5 490.2 39.3 8.0% ▪ EBIT Margin of 37.8% up 100bps from FY24 Premium Funding 29.8 29.0 0.8 2.
Slide 25: BizCover
BIZCOVER Profit contribution to AUB Group – Pre-tax ▪ Revenue up 15.0% from FY24 FY25 FY24 Movement Movement (%) (AUD mn) ▪ Pre-tax profit increased 26.8% to AUD 19.1mn (FY24: AUD 15.1mn) Revenue1 105.8 92.0 13.8 15.0% ▪ Increase due to continued revenue growth and margin expansion from Expenses1 (5
Slide 26: Agencies
AGENCIES Profit contribution to AUB Group – Pre-tax ▪ Pre-tax profit increased by 30.0% to AUD 72.0mn (FY24: AUD 55.4mn) FY25 FY24 Movement Movement (%) (AUD mn) Commission and fee income (net) 193.6 156.4 37.2 23.8% ▪ Strong organic growth in GWP across most agencies, complemented by the Interest 8
Slide 27: New Zealand Broking
NEW ZEALAND BROKING Profit contribution to AUB Group – Pre-tax ▪ Pre-tax profit increased 2.2% to AUD 23.2mn (FY24: AUD 22.7mn) FY25 FY24 Movement Movement (%) (AUD mn) Commission and fee income (net) 88.8 81.2 7.6 9.4% ▪ Average commission and fee income per client increased 7.6% year on year Premi
Slide 28: International
INTERNATIONAL3 Profit contribution to AUB Group – Pre-tax ▪ Pre-tax profit increased 7.6% to AUD 104.1mn (FY24: AUD 96.8mn) from: FY25 FY24 Movement Movement (%) (AUD mn) ➢ Strong organic revenue growth in Marine & Aviation and Property & Commission and fee income (net) 424.5 375.3 49.3 13.1% Casual
Slide 29: Transactional Foreign Exchange Exposures
TRANSACTIONAL FOREIGN EXCHANGE EXPOSURES GBP:USD hedges are utilised to mitigate transactional exposure to GBP expenses Portfolio by FX Currency1 Operational Hedging Earn Revenue ▪ Monthly FX hedging program sells USD for GBP to December 2026 4% 29% 8% 54% 3% ▪ 55% of FY26 forecast USD brokerage 2%
Slide 30: Balance Sheet and Capital Position
BALANCE SHEET AND CAPITAL POSITION Consolidated Balance Sheet Overview (AUD mn) FY25 FY24 Movement Cash – incl subs 279.3 377.4 (98.1) Cash – Trust Accounts 1,063.4 909.0 154.4 Leverage Ratio 30 Jun’25 Investment in Associates 301.9 250.9 51.0 1.97x Intangible assets and goodwill 2,601.7 2,036.3 565
Slide 31: A1.0 Reconciliation of Reported NPAT to Underlying NPAT
A1.0 RECONCILIATION OF REPORTED NPAT TO UNDERLYING NPAT1 FY25 FY24 Movement (AUD $’000) (AUD $’000) (AUD $’000) Net Profit after tax attributable to equity holders of the parent 180,055 137,072 42,983 Add back/(less): (net of NCI and income tax) Amortisation of intangibles8 45,605 39,604 6,001 Adjus
Slide 32: A2.1 Management Presentation of Results
A2.1 MANAGEMENT PRESENTATION OF RESULTS1,3 FY25 (AUD $’000) FY24 (AUD $’000) Movement (AUD $’000) Movement (%) Australian Broking revenue 611,117 563,669 47,448 8.4% Australian Broking expenses (380,115) (356,239) (23,876) 6.7% EBIT - Australian Broking 231,002 207,430 23,572 11.4% International rev
Slide 33: A2.2 Management Presentation of Results
A2.2 MANAGEMENT PRESENTATION OF RESULTS1 FY25 (AUD $’000) FY24 (AUD $’000) Movement (AUD $’000) Movement (%) Australian Broking revenue 611,117 563,669 47,448 8.4% Australian Broking expenses (388,760) (363,634) (25,126) 6.9% Net profit - Australian Broking 222,357 200,035 22,322 11.2% Profit attrib
Slide 34: A2.3 Management Presentation of Results
A2.3 MANAGEMENT PRESENTATION OF RESULTS1,3 FY25 ($’000) 2H25 ($’000) 1H25 ($’000) FY24 ($’000) 2H24 ($’000) 1H24 ($’000) FY23 ($’000) 2H23 ($’000) 1H23 ($’000) FY22 ($’000) 2H22 ($’000) 1H22 ($’000) FY21 ($’000) 2H21 ($’000) 1H21 ($’000) Australian Broking revenue 611,117 308,470 302,647 563,669 288
Slide 35: A2.4 Management Presentation of Results
A2.4 MANAGEMENT PRESENTATION OF RESULTS1 FY25 ($’000) 2H25 ($’000) 1H25 ($’000) FY24 ($’000) 2H24 ($’000) 1H24 ($’000) FY23 ($’000) 2H23 ($’000) 1H23 ($’000) FY22 ($’000) 2H22 ($’000) 1H22 ($’000) FY21 ($’000) 2H21 ($’000) 1H21 ($’000) Australian Broking revenue 611,117 308,470 302,647 563,669 288,8
Slide 36: A3.0 Consolidated Cash Flow Statement
A3.0 CONSOLIDATED CASH FLOW STATEMENT FY25 FY24 (AUD $’000) (AUD $’000) Cash flows from operations 290,032 129,210 Cash flows from investing activities Acquisitions and portfolio purchases (229,993) (68,033) Sales proceeds (net of cash reduced on deconsolidation) 4,243 16,787 Plant equipment / Other
Slide 37: B. AUB Group Business Overview
Appendices B. AUB Group Business Overview
Slide 38: AUB Group – An Overview
AUB GROUP – AN OVERVIEW AUB Group Limited is an ASX200 listed group comprising insurance brokers and underwriting agencies, helping our clients to safeguard a stronger, protected future ▪ Full complement of services and technology supporting the Austbrokers AUSTRALIAN network of 39 brokerages ▪ Comp
Slide 39: AUB Group in the Insurance Broking Value Chain
AUB Group in the Insurance Broking Value Chain AUB sources, designs and distributes insurance products on behalf of underwriters without taking on underwriting, prudential capital requirements or claims risk Source capacity for Distribution of insurance Authority to design and Clients (SMEs and dist
Slide 40: Our Long-Term Levers for Earnings Growth
OUR LONG-TERM LEVERS FOR EARNINGS GROWTH Long term strategy remains consistent with priorities aligned to where we see opportunities going forward Improved Earning driver Consolidation / New Business Commission/ M&A Commercial Cost Reduction Technology priorities Specialisation Growth Fee Changes Ar
Slide 41: Overview: Australian Broking
OVERVIEW: AUSTRALIAN BROKING OVERVIEW ▪ Our Australian broking businesses encompass some of Australia’s largest and most reputable brokerages, with specialist expertise, market penetration and quality client portfolios 41% 39 ▪ The portfolio consists of ~2,900 staff with capabilities across a broad
Slide 42: Overview: New Zealand
OVERVIEW: NEW ZEALAND OVERVIEW ▪ 6 Broking groups and Insurance Advisernet NZ broker network o Selective investments in high-performing broking businesses ▪ 2 underwriting agencies ~AUD 1.4bn 7% 6 Brokers 2 Agencies ~250,000 in premium contribution to 2 broker o Expansion of 360 in New Zealand throu
Slide 43: Overview: International (including Tysers)
OVERVIEW: INTERNATIONAL (INCLUDING TYSERS) OVERVIEW ▪ Tysers within International is a leading specialist international insurance broker and the 11th largest wholesale broker in the Lloyd’s marketplace with 200 years of expertise Tysers Wholesale ▪ AUD 4.7bn premium, ~1,300 employees, across ~AUD 4.
Slide 44: Overview: Agencies
OVERVIEW: AGENCIES OVERVIEW ▪ Our Agencies comprise some of Australia’s leading specialist underwriters who distribute and manage insurance products on behalf of domestic and internationally licensed insurers, including Lloyd’s ▪ The business includes 35 agencies, driving ~$1.3bn ~AUD 1.3bn 15% 35 ~
Slide 45: Overview: BizCover
OVERVIEW: BIZCOVER OVERVIEW ▪ BizCover is the leading digital full-lifecycle SME insurance platform in Australia and New Zealand, operating across the entire insurance value chain - without assuming underwriting risk ~AUD 7% 380,000 ▪ With an excellent NPS score of +74, BizCover’s success is driven
Slide 46: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE Maintained MSCI AA rating and recertified as “Great Place to Work” ▪ AUB Group is in Group 1 of Australian Sustainability Reporting Standard (ASRS) 1 ASRS 1 ▪ Work is progressing to uplift ESG-related processes and disclosures in preparation for ASRS 1 compliance
Slide 47: C. AUB Group Portfolio Overview
Appendices C. AUB Group Portfolio Overview
Slide 48: Insurance Portfolio Mix, by Product and Insurer
AUB GROUP EX INTERNATIONAL: INSURANCE PORTFOLIO MIX, BY PRODUCT AND INSURER Portfolio Mix – Premium by Product / Risk Line Portfolio Mix – Premium by Insurer 19% 17% 16% 3% 2% 11% 43% 12% 3% 6% 9% 8% 6% 6% 9% 6% 9% 3% 3% 3% 6% Business Strata Liability Farm Personal Workers Comp CGU/IAG Allianz Lloy
Slide 49: Australian Broking Portfolio Mix by Client Segment, Product, Geography & Insurer
AUSTRALIAN BROKING PORTFOLIO MIX BY CLIENT SEGMENT, PRODUCT, GEOGRAPHY & INSURER Client Segment Mix Product Line Mix Geography Mix Insurer Mix Corporate 27% Business Workers Comp NSW WA QBE National Transport Insurance 20% 5% 40% 7% 10% 4% Medium Enterprise 28% Liability Farm VIC ACT Allianz Zurich
Slide 50: Insurance Portfolio Mix, by Product Category and Geography
AUB GROUP EX INTERNATIONAL: INSURANCE PORTFOLIO MIX, BY PRODUCT CATEGORY AND GEOGRAPHY Portfolio Mix – by Category (%) Portfolio Mix – by Geography (%) 12% 13% NT 1% QLD 14% WA 6% NSW SA 32% 8% ACT 1% 87% 88% VIC 15% Commercial NZ Personal 23% 50 Portfolio mix is based on available data from key Aus
Slide 51: Tysers: Revenue by Insurer, Broking Team and Intermediary Partner
TYSERS: REVENUE BY INSURER, BROKING TEAM AND INTERMEDIARY PARTNER (12M TO 30 JUN’25) Revenue by Insurer Revenue by Broking Team Revenue by Intermediary Partner 1% 2% 1% 2% 1% 8% 10% 3% 1% 5% 1% 1% 4% 10% 1% 4% 3% 6% 48% 3% 2% 5% 2% 65% 2% 4% 2% 4% 4% 4% 86% 2% 3% Top 10 insurers account Top 10 broki
Slide 52: Notice
NOTICE SUMMARY INFORMATION This document has been prepared by AUB Group Limited (ABN 60 000 000 715) (AUB). It is a presentation of general background information about AUB’s activities current at the date of the presentation. It is information in a summary form and does not purport to be complete.
Slide 53: Thank You
Thank You