Slide 1: 1Q2025 Results Presentation
iFAST Corporation Ltd. 1Q2025 Results Presentation 25 Apr 2025 1
Slide 2: Disclaimer
Disclaimer This presentation should be read as an overview of iFAST Corporation Ltd.’s (“iFAST Corp” or the “Company”, and together with its subsidiaries, the “Group”) current business activities and operating environment. This presentation should not be solely relied upon by current and potential i
Slide 3: Contents
Contents ▪ Key Summary Pg. 4 ▪ AUA Updates ▪ 1Q2025 (Jan-Mar 2025) Financial Results Pg. 8 Section I Financial Results ▪ Performance by Geographical and Business Segments ▪ First Interim Dividend ▪ iFAST Global Bank: Strengthening the Group’s Truly Global Business Pg. 17 Model Section II Business Up
Slide 4: Key Summary
Key Summary • In 1Q2025, the Group’s net profit increased by 31.2% YoY to $19.04 million, on the back of a 24.4% YoY increase in Group gross revenue to $106.92 million. The increase in 1Q2025 profitability was driven by a turnaround of iFAST Global Bank as well as continuing growth in the Group’s co
Slide 5: Key Summary
Key Summary • The Group’s Hong Kong business saw a 12.8% YoY growth in gross revenue to $35.34 million in 1Q2025. The increase in revenue reflected the growth of the wealth management business in Hong Kong. • PBT for the overall Hong Kong business saw a 6.8% YoY decline to $12.33 million in 1Q2025,
Slide 6: Group AUA increased 22.0% YoY to S$25.68 billion
$10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 $26,000 $4,000 $6,000 $- $2,000 $8,000 S$ million Mar-01 Sep-01 Mar-02 Sep-02 Mar-03 Sep-03 Mar-04 Sep-04 Mar-05 Sep-05 Mar-06 Sep-06 Mar-07 Sep-07 Mar-08 Sep-08 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 B2B billion as at 31 March 2025 Sep-11
Slide 7: AUA Breakdown: Markets & Products
AUA Breakdown: Markets & Products (as at 31 Mar 2025) AUA Breakdown By Markets AUA Breakdown By Products 6.3% 8.5% 11.3% 21.6% 11.9% 56.7% 70.5% 13.2% Unit Trusts Bonds Singapore Hong Kong Malaysia Others (China & UK) Stocks & ETFs Cash Account & Deposits 7
Slide 8: Section I Financial Results
Section I Financial Results 8
Slide 9: Financial Results for Group
Financial Results for Group (1Q2025 vs 1Q2024) S$ (Million) 1Q2024 1Q2025 YoY change (%) Total revenue 85.96 106.92 +24.4 Total net revenue 58.11 67.72 +16.5 Other income 0.52 0.59 +13.6 Operating expenses 40.17 44.51 +10.8 Interest expenses on lease liabilities 0.31 0.45 +46.6 Share of results of a
Slide 10: Results Overview for Group
Results Overview for Group S$ (Million) FY2021 FY20221 FY20231 FY20241 1Q20251 Total revenue2 216.90 208.87 256.54 382.99 106.92 Total net revenue2 113.91 118.24 161.66 248.38 67.72 Other income 0.49 1.72 1.71 1.86 0.59 Operating expenses 77.68 103.84 126.23 165.64 44.51 Interest expenses on lease l
Slide 11: PBT Margin for Group
PBT Margin for Group (Based on Total Net Revenue) 40.0% 34.5% 35.0% 33.5% 31.6% 30.0% 25.0% 22.6% 20.0% 15.0% 13.5% 10.0% 5.0% 0.0% 2021 2022 2023 2024 1Q2025 Note: • Including UK banking operation from 2022 and excluding impairment loss of S$5.2 million related to India Business recognised in 2022.
Slide 12: Return on Equity
Return on Equity 30.0% 25.8% 25.0% 23.4% 23.1% 20.0% 15.0% 12.2% 10.0% 5.0%1 5.0% 0.0% 2 2021 2022 2023 2024 1Q2025 Notes: 1. Excluding impairment loss of S$5.2 million related to India Business recognised in 2Q2022. 2. The Group conducted a S$103 million share placement exercise in January 2022. 12
Slide 13: Profit/Loss - Geographical Segment
Profit/Loss - Geographical Segment Profit/Loss 1Q2024 1Q2025 YoY Change (%) (S$ Million) Singapore 8.27 9.41 +13.8 Hong Kong 13.23 12.33 -6.8 Malaysia 0.96 1.63 +69.2 China (1.71) (0.99) -42.1 Other1 (0.03) (0.01) -56.7 Non-banking operations 20.72 22.37 +8.0 UK banking operation (2.28) 1.00 N.M. Pr
Slide 14: Profit/Loss - Geographical Segment
Profit/Loss - Geographical Segment Profit/Loss FY2021 FY2022 FY2023 FY2024 1Q2025 (S$ Million) Singapore 28.43 16.57 25.20 36.14 9.41 Hong Kong 8.39 8.07 23.82 52.96 12.33 Malaysia 5.39 4.25 4.39 4.96 1.63 China (5.82) (7.12) (7.19) (5.85) (0.99) Other1 (0.35) 0.30 0.22 (0.02) (0.01) Non-banking ope
Slide 15: Total Net Revenue - Geographical Segment
Total Net Revenue - Geographical Segment S$ (Million) FY2021 FY2022 FY2023 FY2024 1Q2025 Singapore 73.50 70.49 81.24 96.06 24.94 Hong Kong 24.43 24.15 52.58 112.97 29.04 Malaysia 13.43 13.64 13.98 15.53 4.14 China 2.55 1.77 1.51 1.24 0.31 UK - 8.19 12.35 22.58 9.29 Group 113.91 118.24 161.66 248.38
Slide 16: First Interim Dividend for FY2025
First Interim Dividend for FY2025 First Interim Dividend for FY2025 - Schedule Dividend per share 1.60 cents per ordinary share Ex-dividend date 26 May 2025 Record date and time 27 May 2025 (5.00 pm) Payment date 9 June 2025 • For the first interim dividend for 1Q2025, the Directors declared a divid
Slide 17: Section II Business Update
Section II Business Update 17
Slide 18: iFAST Global Bank Updates: Path to Profitability
iFAST Global Bank Updates Path to Profitability S$ million 2022 2023 2024 1Q2024 1Q2025 2.00 1.00 0.00 -2.00 -2.28 -4.00 -4.36 -5.04 -6.00 -8.00 -8.61 -10.00 18
Slide 19: iFAST Global Bank Updates: Gross Revenue Trending Higher
iFAST Global Bank Updates Showing Encouraging Progress - Gross Revenue Trending Higher S$ million 60.00 52.01 50.00 40.00 30.00 20.58 19.54 20.00 10.33 9.54 10.00 - 2022 2023 2024 1Q2024 1Q2025 19
Slide 20: iFAST Global Bank: Strengthening the Group's Truly Global Business Model
iFAST Global Bank Strengthening the Group’s Truly Global Business Model iFAST Global Bank (“iGB” and/or “Bank”) plays an important role in realising the Group’s vision of having a truly global business model through three core divisions: 1. Digital Personal Banking (DPB) Division: • Since its launch
Slide 21: iFAST Global Bank: Strengthening the Group's Truly Global Business Model
iFAST Global Bank Strengthening the Group’s Truly Global Business Model 2. EzRemit Division • EzRemit has been an integral part of the Bank since its acquisition in March 2022, demonstrating strong progress. The Group regards EzRemit as a key enabler in delivering services to its customers globally,
Slide 22: iFAST Global Bank: Strengthening the Group's Truly Global Business Model
iFAST Global Bank Strengthening the Group’s Truly Global Business Model 3. Business Banking Division • Previously, this B2B division is known as Digital Transaction Banking (DTB), but as part of a recent strategic re- organisation, a new Business Banking division has been created, comprising: • Digi
Slide 23: iFAST Fintech Ecosystem
iFAST Fintech Ecosystem Connecting All to Help Investors Invest Globally and Profitably 970,000+ 780+ 13,700+ 5 Information accurate as of 31 March 2025 23
Slide 24: Net Inflows Trend
Net Inflows Trend S$ million $4,000 $3,745 $3,500 $3,296 $3,160 $3,000 $2,500 $2,104 $1,957 $2,000 $1,500 $942 $976 $938 $1,000 $786 $688 $458 $501 $396 $500 $235 $193 $55 $- 24
Slide 25: Gross Unit Trust (UT) Subscription
Gross Unit Trust (UT) Subscription S$ million $8,000 $7,433 $7,052 $7,000 $6,000 $5,647 $5,223 $5,000 $4,490 $4,000 $2,908 $3,053 $2,870 $3,000 $2,267 $2,000 $1,670 $1,574 $1,591 $1,365 $1,547 $947 $940 $1,000 $0 25
Slide 26: Fixed Income Turnover
Fixed Income Turnover S$ million $1,200 $1,100 $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 26
Slide 27: Updated Hong Kong Targets & Actual Performance
Updated Hong Kong Targets & Actual Performance 2023 2024 2025 2026 Actual Actual Updated Target Target Gross Revenue HK$406 million HK$866 million >HK$1.2 billion Net Revenue HK$306 million HK$656 million >HK$1.0 billion Double-digit YoY growth PBT HK$139 million HK$309 million >HK$380 million* • *A
Slide 28: Hong Kong Targets (Previous) & Actual Performance
Hong Kong Targets (Previous) & Actual Performance 2023 2023 2024 2024 2025 2025 Target Actual Target Actual Target Target (Disclosed in (Disclosed in (Disclosed in (Updated in Apr 2022) Feb 2024) Feb 2024) Apr 2025) Gross >HK$400 million HK$406 million >HK$800 million HK$866 million >HK$1.2 billion
Slide 29: Section III Performance Trends
Section III Performance Trends 29
Slide 30: Financial Indicators
Financial Indicators S$ (Million) FY2021 FY2022 FY2023 FY2024 1Q2025 EBITDA2 54.79 37.641 70.50 119.77 31.50 Operating Cashflows 46.53 47.40 273.45 671.28 95.24 Capital Expenditure 21.62 17.87 21.63 26.13 5.16 Net Current Assets 68.03 108.45 110.66 170.31 218.38 Shareholders’ Equity 128.65 222.49 25
Slide 31: Cash Plus Liquid Assets Net of Borrowings Position
Cash Plus Liquid Assets Net of Borrowings Position As at 31 Dec 2024 As at 31 Mar 2025 (S$ million) (S$ million) Cash and Cash Equivalents 622.83 638.21 Sovereign Bonds & Investment-grade Corporate Bonds 502.70 596.52 Others 116.07 113.29 Less: Customers’ Deposits (1,013.34) (1,152.58) Total Cash pl
Slide 32: Group Operating Cashflows
Group Operating Cashflows S$ million $800 $700 671.28 $600 $500 $400 $300 273.45 $200 95.24 $100 46.53 47.40 $0 2021 2022 2023 2024 1Q2025 32
Slide 33: Capital Expenditure
Capital Expenditure S$ million $30 27.20 26.13 $25 21.62 21.63 $20 17.87 $15 $10 $5 $0 2021 2022 2023 2024 2025F 33
Slide 34: Number of Issued Shares
Number of Issued Shares As at 31 Dec 2024 As at 31 Mar 2025 Total number of issued shares (excluding treasury shares and subsidiary 297,959,099 299,994,299 holdings) 34
Slide 35: Our Consolidated Financial Position
Our Consolidated Financial Position As at 31 Dec 24 As at 31 Mar 25 S$’000 S$’000 ASSETS Plant and Equipment 14,362 14,029 Right-of-use Assets 35,580 32,950 Intangible Assets and Goodwill 85,021 83,347 Associates 414 398 Other Investments 119,073 153,971 Deferred Tax Assets 2,117 2,008 Contract Cost
Slide 36: Our Consolidated Financial Position
Our Consolidated Financial Position As at 31 Dec 24 As at 31 Mar 25 S$’000 S$’000 EQUITY Share Capital 171,435 171,943 Reserves 145,351 168,214 EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY 316,786 340,157 Non-Controlling Interests (1,808) (1,844) TOTAL EQUITY 314,978 338,313 LIABILITIES Debt Issued
Slide 37: Held under Trust
Held under Trust As at 31 Dec 24 As at 31 Mar 25 S$’000 S$’000 HELD UNDER TRUST Client monies maintained in bank deposit accounts with related 27,264 31,249 bank Client monies maintained in bank deposit accounts with non-related 1,016,318 1,079,607 banks Client monies maintained in government debt s
Slide 38: Total Net Revenue Breakdown between Recurring and Non-recurring Sources
Total Net Revenue1 Breakdown between Recurring and Non-recurring Sources S$ million 300 Average contribution from recurring net revenue as opposed to non-recurring net revenue in the period from 2024 to 1Q2025 was 83.2% 250 37.4 200 150 29.7 211.0 100 34.5 34.4 25.5 131.9 12.5 11.3 12.3 50 8.5 83.9
Slide 39: Recurring and Non-recurring Total Net Revenue
Recurring and Non-recurring Total Net Revenue (Include Banking Operation) S$ (Million) FY2021 FY20221 FY20231 FY20241 1Q20251 Recurring net revenue2 79.38 83.86 131.94 210.98 55.18 Non-recurring net revenue 34.53 34.38 29.72 37.40 12.54 Total net revenue2 113.91 118.24 161.66 248.38 67.72 YoY Change
Slide 40: Recurring and Non-recurring Total Net Revenue
Recurring and Non-recurring Total Net Revenue (Exclude Banking Operation) S$ (Million) FY2021 FY20221 FY20231 FY20241 1Q20251 Recurring net revenue2 79.38 83.61 129.19 201.86 51.28 Non-recurring net revenue 34.53 26.44 20.12 23.93 7.15 Total net revenue2 113.91 110.05 149.31 225.79 58.43 YoY Change
Slide 41: Net Revenue - B2B Business Segment
Net Revenue1 - B2B Business Segment B2B Net Revenue FY2021 FY2022 FY2023 FY2024 1Q2025 (S$ Million) Recurring net revenue 55.73 58.05 99.10 172.50 44.51 Non-recurring net revenue 16.42 16.66 12.89 13.09 4.16 Total B2B net revenue 72.15 74.72 111.99 185.59 48.67 YoY Change (%) FY2021 FY2022 FY2023 FY
Slide 42: Net Revenue - B2C Business Segment
Net Revenue1 - B2C Business Segment B2C Net Revenue FY2021 FY2022 FY2023 FY2024 1Q2025 (S$ Million) Recurring net revenue 22.96 22.99 25.64 25.85 6.43 Non-recurring net revenue 18.11 9.78 7.23 10.84 2.99 Total B2C net revenue 41.07 32.77 32.87 36.69 9.42 YoY Change (%) FY2021 FY2022 FY2023 FY2024 1Q
Slide 43: Progress of Individual Markets
Progress of Individual Markets SINGAPORE HONG KONG • AUA: Increased 2.9% QoQ • AUA: Increased 1.4% QoQ and 18.6% YoY to S$18.10 and 24.4% YoY, reaching billion as at 31 March 2025, S$3.06 billion as at 31 March reaching another end-of- 2025. quarter record high. • Net revenue: Increased by • Net rev
Slide 44: Progress of Individual Markets
Progress of Individual Markets MALAYSIA CHINA • AUA: Decreased 2.4% QoQ • AUA: Increased 11.5% QoQ but increased 19.4% YoY to and 23.1% YoY to S$454.92 S$2.91 billion as at 31 March million as at 31 March 2025. 2025. • Net revenue: Increased by • Net revenue: Increased by 15.6% YoY, reaching S$0.31
Slide 45: Progress of Individual Markets UK – iFAST Global Bank
Progress of Individual Markets UK – iFAST Global Bank (iGB) • AUA: Increased by 13.7% QoQ and 123.6% YoY to S$1.15 billion. • Net revenue: Increased by 119.8% YoY to S$9.29 million in 1Q2025 • Profit: Continued to achieve profitability in 1Q2025, generating S$1.00 million of profit in 1Q2025, up 232
Slide 46: Appendices
n ® L a) — ® 2 roo <x Section IV
Slide 47: Business Overview
Business Overview • iFAST Corporation Ltd. is a global digital banking and wealth management fintech platform with assets under administration (AUA) of S$25.68 billion as at 31 March 2025 (stock code: AIY). • Main business divisions: • Wealth Management: • Business-to-Consumer (B2C): FSMOne.com (for
Slide 48: iFAST's Three-Year Plan (2025-2027)
iFAST’s Three-Year Plan (2025-2027) 1. Building on our S$25.01 billion Group AUA at the end of 2024, continue to increase the scale and quality of our wealth management platform. The scalability of our platform will be further strengthened with a profitable global digital bank at the core of our fin
Slide 49: iFAST Global Bank Updates: Conservative Balance Sheet Strategy
iFAST Global Bank Updates Conservative Balance Sheet Strategy • The customer deposit amounts for iFAST Global Bank (iGB) grew 13.7% QoQ and 123.6% YoY to S$1.15 billion as at 31 March 2025. • The increase in deposits continues to be driven by the deposit offering business units, and most significant
Slide 50: iFAST Global Bank Updates: Regulatory Ratios
iFAST Global Bank Updates Regulatory Ratios The Group has started to disclose the regulatory ratios for iFAST Global Bank since 1Q2023, including the Liquidity Coverage Ratio (“LCR”), Net Stable Funding Ratio (“NSFR”) and Total Capital Ratio, which are at 776%, 235% and 24% respectively as at 31 Mar
Slide 51: Milestones
Milestones BUSINESS ROADMAP 2000 2002 2007 2008 2011 Launch of Launch of iFAST Launch of • Launch of iFAST Platform Launch of “FSM Mobile” Fundsupermart.com Platform Services Fundsupermart.com Services (B2B) in HK iPhone application. The (B2C) in Singapore (B2B) in SG (B2C) in Hong • Launch of Andro
Slide 52: Milestones
Milestones 2018 2019 2020 2021 • Launch of US • iFAST MY launched • Launch of revamped • Launch of Bursa stockbroking in MY and SG stockbroking in HK retail bonds under the FSMOne mobile apps in SG,• iFAST HK approved as China Connect • Launch of FSMOne in new Seasoning HK and MY Exchange and Cleari
Slide 53: FY2024 Breakdown of Net Revenue
FY2024 Breakdown of Net Revenue (For Wealth Management Platform Services) Fintech Solutions IT fees, 1.6% FX Margin, 6.1% Others, 0.5% Transaction Fees/Commission Income (Other products), 1.2% Transaction Fees/Commission Income (listed securtities), 9.0% Transaction Fees/Commission Income (UT and Po
Slide 54: Fees Illustration
Fees Illustration (For Wealth Management Platform Services) FUND HOUSES TRAILER FEE PLATFORM FEE PLATFORM FEE B2B UPFRONT FEE B2C CUSTOMERS UPFRONT FEE CUSTOMERS WRAP FEE FX CONVERSION FEES B2B FINANCIAL OTHER FINTECH SOLUTIONS ADVISORY COMPANIES SERVICE FEES FACILITIES 54
Slide 55: Licences Held and Products & Services Available
Licences Held and Products & Services Available (as at 31 Mar 2025) SINGAPORE Hong Kong Malaysia Licences and Registration Held: Licences and Registration Held: Licences and Registration Held: • Capital Markets Services Licence [MAS] • Type 1 - Dealing in Securities [SFC] • Capital Market Services L
Slide 56: Our Value Proposition
Our Value Proposition PRODUCT B2B CUSTOMERS B2C DIY INVESTORS GLOBAL BANK ePENSION PROVIDERS CUSTOMERS CUSTOMERS • One platform, multiple • One platform, multiple • One platform, multiple • Online account opening • Empower partners with B2C and B2B investment products investment products without geo
Slide 57: iFAST Corp's Risk Journey
iFAST Corp’s Risk Journey 2000-2024 and Beyond iFAST Corp has built upon the following three key elements while braving through multiple economic events over the last 24 years, tiding through the 2001 Dotcom bubble burst, the 2008 Global Financial Crisis and the recent Covid pandemic. This has paved
Slide 58: iFAST Corp's Risk Journey
iFAST Corp’s Risk Journey 2000-2024 and Beyond • Using the analogy of Kart Racing, braking (risk At iFAST, we aim to go far and wide: management) is essential to help the kart accelerate • Thus, we see good risk management as an essential partner as (business strategies) safely through a turn at top
Slide 59: 1Q2025: Activities & Achievements
1Q2025: Activities & Achievements New Partnership: iFAST Corp and TSFC Securities forge strategic bond partnership in Thailand with support from Enterprise Singapore B2B Division Client Events (L-R): iFAST Singapore - iFAST 30M Programme Anniversary; iFAST Malaysia - CNY Open House 2025 for B2B advi
Slide 60: Thank You
Thank You For more information, please visit: www.ifastcorp.com 60 60