Steadfast Group Limited · ASX:SDF

Steadfast — FY2025 Earnings Presentation

55 slides from Steadfast's earnings presentation, Aug 28, 2025

  1. Slide 1: FY25 Results Investor Presentation

    Steadfast Group FY25 Results Investor Presentation 28 August 2025

  2. Slide 2: Contents

    Contents FY25 Results Investor Presentation 03 FY25 Highlights 08 Steadfast Australasian broking 12 Steadfast Underwriting Agencies 15 Steadfast International businesses 19 FY25 Financial Summary 26 Appendices 2

  3. Slide 3: FY25 Highlights

    FY25 Highlights 3

  4. Slide 4: Continued strong track record since listing on ASX

    Continued strong track record since listing on ASX Steadfast Group 1,2 Steadfast Australasian Networks GWP ($b) Steadfast Underwriting Agencies GWP ($b) Underlying EBITA ($m) 700 2.5 14 600 12 2.0 500 10 1.5 400 8 300 6 1.0 200 4 0.5 100 2 2 0 0 0.0 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23

  5. Slide 5: Group highlights

    Steadfast Group Insurance markets • Mid-market still experiencing rate increases • Rates in selected product lines including cyber and PI are moderating Steadfast Underwriting Agencies Group financial performance • Sure launched its new brand Castle Insurance nationally. Regional • Underlying NPATA

  6. Slide 6: Interconnectivity - International expansion strategy

    Interconnectivity - International expansion strategy Complementary addition of Novum Underwriting Partners USA EUR AUSTRALASIA Distribution Solutions 6 Technology Functional Support Capital Market Relationships

  7. Slide 7: FY26 guidance

    FY26 guidance Steadfast FY26 guidance FY26 guidance range ▪ The guidance is based on achieving 3% - 5% increase in Underlying NPATA $365m - $375m pricing of insurance premiums in Australia. Underlying NPAT $315m - $325m ▪ Key risks are set out in the 2025 Annual Report (pages 50 Underlying EBITA $65

  8. Slide 8: Steadfast Australasian broking

    Steadfast Australasian broking 8

  9. Slide 9: Steadfast broking – Australasian Network

    Steadfast broking – Australasian Network Sustained growth and further broker acquisitions Financial highlights – FY25 FY25 vs FY24 • Steadfast Australasian Network GWP +6.0% to $12.5b (excludes PSC, Honan and Envest GWP) 1 GWP of $12.5b vs $11.8b • Network GWP is 85% commercial lines (mainly SME), 1

  10. Slide 10: Steadfast broking: solid underlying earnings growth

    Steadfast broking Solid underlying earnings growth of 10.6% Equity brokers and network - consolidated & equity accounted (assuming 100% ownership) Effective ownership EBITA Period-on- 12 months to 30 June 2025 Underlying Underlying period Organic Growth from FY25 81% $ million FY25 FY24 growth % gro

  11. Slide 11: Our insurTech

    Our insurTech Efficiency through technological advance $1.4b GWP transacted through SCTP in FY25 Steadfast Client Trading Platform (SCTP) • Steadfast remains focused on continually improving SCTP by adding more product lines and new insurers. +15.6% Latest developments include: FY25 growth in GWP tr

  12. Slide 12: Steadfast Underwriting Agencies

    Steadfast Underwriting Agencies 12

  13. Slide 13: Steadfast Underwriting Agencies

    Steadfast Underwriting Agencies Profitable growth focused on maintaining underwriting discipline, active retention and targeted new business Financial highlights – FY25 Operational highlights • Steadfast Underwriting Agencies GWP +5.9% to $2.5b • Today we have 30 agencies offering over 100 niche pro

  14. Slide 14: Organic growth driven by price and volume

    Steadfast Underwriting Agencies Organic growth driven by price and volume Steadfast Underwriting Agencies – consolidated & equity accounted (assuming 100% ownership) 12 months to 30 June 2025 Underlying Underlying Organic Growth from Period-on-period $ million FY251 FY241 growth % acquisitions % gro

  15. Slide 15: Steadfast International businesses

    Steadfast International businesses 15

  16. Slide 16: International Businesses: Strategic growth

    Steadfast International Businesses Strategic growth FY25 operational highlights • ISU Steadfast ⁻ ISU Steadfast has continued to grow its earnings base and exceeded budgeted FY25 profit Strategic Growth Opportunity ⁻ 7% net growth in members ⁻ Re-branded company to ISU Steadfast UnisonSteadfast Netw

  17. Slide 17: Novum Underwriting Partners

    Novum Underwriting Partners A fast-growing specialty MGA and wholesale brokerage based in USA ⁻ In August 2025, Steadfast completed the strategic acquisition of a majority stake in Novum based in the USA ⁻ Novum specialises in the digital delivery of insurance programs on a wholesale basis to agents

  18. Slide 18: Global Connection

    Global Connection Our international strategy interconnects distribution and solutions across geographies 18

  19. Slide 19: FY25 Financial Summary

    FY25 Financial Summary 19

  20. Slide 20: Group financial performance

    Group financial performance Strong underlying earnings growth Underlying earnings 12 months to 30 June Underlying Underlying Period-on-period $ million FY251 FY241 growth % Revenue ($m) 1,825.7 1,676.2 8.9% EBITA ($m) 591.4 528.5 11.9% NPAT ($m) 295.5 252.2 17.2% Diluted EPS2 (NPAT) (cents) 26.7 23.

  21. Slide 21: Drivers of 11.9% growth in underlying EBITA

    Drivers of 11.9% growth in underlying EBITA1 Organic and acquisition growth Organic Growth: $46.5m / 8.8% Acquisition Growth: $16.4m / 3.1% 620.0 $16.2m / 3.1% $0.2m / 0.0% $62.9m / 11.9% Millions $46.5m / 8.8% $0.0m / 0.0% 570.0 520.0 470.0 420.0 370.0 $591.4m 320.0 $528.5m 270.0 220.0 170.0 120.0

  22. Slide 22: Strong balance sheet

    Strong balance sheet $ million 30 Jun 25 30 Jun 24 Corporate debt facilities (excludes premium funding) increased, and recently extended as follows: Cash and cash equivalents 431 300 $ million Maturity Total Cash held on trust 1,172 1,026 Revolving May 2028 500 Premium funding receivables 800 776 Te

  23. Slide 23: Strong conversion of profits to cash

    Strong conversion of profits to cash FY25 cash flow statement Cash flow summary¹ $ million FY25 FY24 Pre-tax cash flow from operating activities before 540.9 460.1 lease obligation payment Free cash flow of $124.9 million Less lease obligation payments (19.9) (22.6) Pre-tax cash flow from operating

  24. Slide 24: Final dividend up 14.0%

    Final dividend up 14.0% Final FY25 dividend Underlying diluted EPS (NPAT) (cents per share) 28 • Total FY25 dividends of 19.50 cps (fully franked), up from 17.10 cps in FY24, +13.0% 26 24 • Final FY25 dividend of 11.70 cps (fully franked), up from 10.35 cps in FY24, +14.0% 22 20 • Dividend Reinvestm

  25. Slide 25: Questions

    Questions 25

  26. Slide 26: Appendices

    Appendices Steadfast Group (slide 27) Steadfast Australasian Network (slide 31) Steadfast Underwriting Agencies (slide 38) Steadfast International Businesses (slide 40) Our insurTech (slide 44) FY25 detailed financials (slide 48) 26

  27. Slide 27: Steadfast Group

    Steadfast Group 27

  28. Slide 28: Steadfast Group global footprint

    Steadfast Group Approximately 645 network brokers and agencies globally with ~AU$25b¹ premium (excluding UnisonSteadfast) UK Australia USA ▪ Broker Network ▪ Specialist Wholesale Broker ▪ MGAs ▪ Agency Network Singapore ▪ Complementary Businesses Germany ▪ Broker Network ▪ Equity in brokers ▪ MGAs ▪

  29. Slide 29: Business units focused on the intermediated general insurance market

    Business units focused on the intermediated general insurance market Steadfast Group as at 30 June 2025 Steadfast Group (listed on ASX) Steadfast Australasian Steadfast International businesses Steadfast Underwriting Agencies Complementary Businesses Broker Networks 402 general insurance brokers wit

  30. Slide 30: Size and scale

    Size and scale Steadfast Group as at 30 June 2025 General insurance broker networks in Largest group of underwriting agencies in Agency network in USA Australasia Australasia AU$12.5 b 402 ~US$7.0 b 241 $2.5 b 30 Annual GWP1 Steadfast Network brokers Total premium ISU Steadfast members Annual GWP1 U

  31. Slide 31: Steadfast Australasian Network

    Steadfast Australasian Network 31

  32. Slide 32: General insurance broker network operating in Australasia

    General insurance broker network operating in Australasia Steadfast Australasian Network Steadfast Steadfast Network Strategy Australasian Network The Steadfast Network has 402 general insurance brokers in Exclusive to Steadfast Network brokers AU$12.5b ▪ Be the best solution for our clients’ needs

  33. Slide 33: Australasian Networks brokers since IPO

    Steadfast Australasian Networks 354 brokers have joined Steadfast’s Australasian Networks since IPO Number of Steadfast Network brokers1 700 650 34 163 77 600 550 31 34 23 500 178 20 450 2 20 402 400 350 300 276 250 200 August New brokers Allied NZ Insight IBNA Singapore Merged Sold externally Leave

  34. Slide 34: Broker office footprint

    Steadfast Australasian Broker Networks Broker office footprint The Steadfast Network is 8 comprised of Insurance Brokers & Authorised Representatives 60 Asia 1,794 broker offices NT 358 Across Australia, New Zealand QLD and Asia WA SA NSW 449 142 402 Network Brokers 18 96 VIC ACT 160 AU$12.5b New Ze

  35. Slide 35: Australia – resilient SME client base

    Steadfast Australian Network Australia – resilient SME client base 1 GWP mix Diversified by product line Diversified by geography Diversified by insurer Business pack 15% QBE 15% VIC 38% Strata 9% CGU 13% Micro (Policy size <$650) 1% NSW 28% Commerical motor 13% Small Enterprise (Policy size $650 -

  36. Slide 36: Increasing Steadfast Group's share of growing Network GWP

    Increasing Steadfast Group’s share of growing Network GWP Steadfast Australasian Network • Since IPO, Steadfast has successfully implemented the dual strategies of growing our networks as well as increasing equity stakes in network brokers FY13 (IPO) FY25 Steadfast Network total GWP Steadfast Networ

  37. Slide 37: Australian equity brokers share of GWP

    Steadfast Australian equity brokers share of GWP Steadfast subsidiary equity brokers have diversified books across all general insurance lines Mar25 R12 Equity broker GWP by policy type (%) 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Commercial Domestic motor Employers' Fire and Houseowners Marine an

  38. Slide 38: Steadfast Underwriting Agencies

    Steadfast Underwriting Agencies 38

  39. Slide 39: Underwriting Agencies Portfolio

    Steadfast Underwriting Agencies Portfolio Highly diversified portfolio providing good sustainability and growth prospects 39 1 Merged with Miramar/ Procover.

  40. Slide 40: Steadfast International Businesses

    Steadfast International Businesses 40

  41. Slide 41: ISU Steadfast

    ISU Steadfast United States of America In October 2023, Steadfast acquired 100% of ISU Group, a leading independent agency network in the USA. Since the acquisition, ISU Steadfast has had c.10% net growth in members and growth in premium to ~US$7b, up from ~US$6b. ISU Steadfast Snapshot ISU Steadfas

  42. Slide 42: HWS Specialty

    HWS Specialty United Kingdom In December 2024, Steadfast acquired 100% of H.W. Wood, a specialist wholesale broker in London. Since the acquisition, HWS Specialty has been launched to our global networks in Australia, New Zealand, Singapore, USA and UnisonSteadfast. • Acquisition expands Steadfast G

  43. Slide 43: UnisonSteadfast

    UnisonSteadfast One of the world’s largest global general insurance broker networks, offering multi-jurisdictional coverage 700+ Referrals between Steadfast Network brokers and 295 UnisonSteadfast. Brokers in Network UnisonSteadfast global network (based in Germany) 113 countries 60% equity ownershi

  44. Slide 44: Our insurTech

    Our insurTech 44

  45. Slide 45: Steadfast Client Trading Platform – benefits

    Our insurTech Steadfast Client Trading Platform – benefits for clients, brokers and insurers ▪ Market-leading technology – exclusive to Steadfast Network brokers, clients and participating insurers ▪ Benefits for clients: ꟷ Genuine contestable marketplace generating improved pricing, competition and

  46. Slide 46: Insurer and underwriting agency partners on the SCTP

    Our insurTech Insurer and underwriting agency partners on the SCTP AUBusiness [AIG] Allianz@ Siam cHuse e Hollard. ® k * QBE ae vero\! @zvricu NZ Business / nek [Aig] delta > WA 8 vero\! Commercial a oy BLUE oie Aliane@® Kiizese © Hollord. anti 8 @zwzricn NZ Domestic Home, Landlord, Private Motor Ri

  47. Slide 47: Steadfast Technologies

    Our insurTech Steadfast Technologies Steadfast Client Trading Platform Insurebot SCTP is a digital marketplace which provides Steadfast INSIGHT is an insurance broking platform with a Steadfast Apps is a hybrid CRM and workflow automation Insurebot is an online broker platform that streamlines Netwo

  48. Slide 48: FY25 detailed financials

    FY25 detailed financials 48

  49. Slide 49: Reconciliation of statutory NPAT to underlying NPAT

    Reconciliation of statutory NPAT to underlying NPAT 12 months to 30 June $ million FY25 FY24 Statutory NPAT attributable to owners of Steadfast Group Limited 334.9 228.0 Adjustments for non-trading items (net of tax and non-controlling interests): Net deferred/contingent consideration expense (exclu

  50. Slide 50: Reconciliation of statutory to underlying earnings

    FY25 detailed financials Reconciliation of statutory to underlying earnings 12 months ended 30 June 2025 Total statutory Reclassifications Non-trading items Total underlying $ million Net fee and commissions income 1,320.3 192.1 2.3 1,514.7 Premium funding interest income 123.5 0.0 - 123.5 Share of

  51. Slide 51: Statement of underlying income

    FY25 detailed financials Statement of underlying income 12 months ended 30 June 2025 Underlying Underlying Period-on-period Organic Acquisitions & $ million FY25 FY24 growth % growth %2 hubbing growth %3 Fees and commissions1 1,517.7 1,405.5 7.8% 4.1% 3.7% Interest Income 60.2 49.4 21.9% 19.0% 2.9%

  52. Slide 52: Statement of income (underlying)

    FY25 detailed financials Statement of income (underlying) Underlying Underlying Underlying Underlying Underlying Underlying Underlying Underlying $ million 2H25 1H25 2H24 1H24 2H23 1H23 2H22 1H22 Fees and commissions¹ 793.8 720.9 744.4 661.1 638.1 573.5 540.7 452.9 Interest Income 27.3 32.9 25.6 23.

  53. Slide 53: Statutory cash flow statement

    FY25 detailed financials Statutory cash flow statement $ million FY25 FY24 $124.9m free cash flow in FY25 $ million Cash flows from operating activities Cash from operations 540.9 Net cash from operating activities before customer 393.6 314.9 trust account and premium funding movements Less lease ob

  54. Slide 54: Important notice

    Important notice This presentation has been prepared by Steadfast Group Limited (“Steadfast”). This presentation contains information in summary form which is current as at 28 August 2025. This presentation is not a recommendation or advice in relation to Steadfast or any product or service offered

  55. Slide 55: Thank you

    Thank you <gt; Steadfast THE STRENGTE YOU NEED

Steadfast Group — FY2025 Earnings Presentation on 6ix