Omni Bridgeway Ltd · ASX:OBL
Omni Bridgeway — FY2026 Earnings Presentation
33 slides from Omni Bridgeway's earnings presentation, Aug 27, 2026
Slide 1: FY26 results
OMNI ©) BRIDGEWAY FY26 results 27 August 2026
Slide 2: Presenting today
Presenting today Raymond van Hulst David Breeney Managing Director & CEO Global Chief Financial Officer FY26 RESULTS | 27 August 2026 2
Slide 3: Contents
Contents 01 Highlights 02 Portfolio performance 03 Financial results 04 Strategic update 05 Annexures Please refer to the notes and footnotes contained in Annexures, which are an integral part of this presentation. FY26 RESULTS | 27 August 2026 3
Slide 4: Highlights
01 Highlights FY26 RESULTS | 27 August 2026 4
Slide 5: Key messages
Key messages FY26 Summary FY26 Highlights FY27 Outlook • Disciplined strategy execution Fee income increased Opex controlled • Mature portfolio driving momentum in Highlights Key targets achieved or exceeded. (A$m) (A$m) cash completions. • Cash investment proceeds of A$350.5m 31% co • Continued inc
Slide 6: Highlights – Investment performance
Highlights – Investment performance (for the 12 months ended 30 June 2026) Investments Realisations Highlights Assets under management (AUM) 2 Total proceeds A$5.9bn A$350.5m Up 12% from 30 June 2025 A$54.1m of OBL-only proceeds performance Portfolio Portfolio fair value 3, 4 Fair value conversion 5
Slide 7: Highlights – Business performance
Highlights – Business performance (for the 12 months ended 30 June 2026) Statutory accounts (IFRS) 9 OBL-only (Non-IFRS) Equity metrics Highlights Total income Total income Total book value per share (IFRS) 10 A$182.2m A$116.5m A$2.96 per share Down 1% on FY25 performance Portfolio NPBT Fee income R
Slide 8: Portfolio performance
02 Portfolio performance FY26 RESULTS | 27 August 2026 8
Slide 9: Continued strong investment performance metrics
Continued strong investment performance metrics • Generated a strong uncorrelated return of 2.3x MOIC from a diversified set of 80 full and partial completions, with record cash proceeds, up 49% on FY25. Highlights • This compares to 2.4x MOIC 13 full life-to-date across all vintages, over multiple
Slide 10: Portfolio construction and diversification
Portfolio construction and diversification 14 • The portfolio is uniquely diversified, both geographically and by area of law, across over 300 active investments. Highlights • Low concentration of fair value and commitments on the 10 largest investments, further mitigates risk of negative binary out
Slide 11: Portfolio fx diversification
Portfolio fx diversification 14 Highlights Fair value by currency FY26 FX movement against AUD • Our portfolio is diversified by geography, (% change during the year) resulting in exposure to different currencies. • Fair value by currency reflects the performance 5% 100 Portfolio 9% currency of enti
Slide 12: Continued strong portfolio growth
Continued strong portfolio growth Total commitments and deployments on active investments 15 Total portfolio fair value Highlights A$2.4bn A$3.8bn performance CAGR Portfolio 18% R A$3.8bn C AG A$2.4bn 17% A$3.6bn A$2.0bn A$1.8bn A$2.8bn Financial A$2.5bn results A$1.5bn A$1.3bn A$1.2bn A$1.1bn Strat
Slide 13: Total portfolio fair value movement
Total portfolio fair value movement • Overall A$277m increase in portfolio fair Highlights A$242m value. • Fair value movement of the portfolio is mainly driven by: A$564m (A$179m) performance Portfolio - Discount unwind; - Material Litigation Events (MLEs); - FX effects. (A$351m) A$3,836m • MLEs re
Slide 14: OBL-only portfolio fair value movement
OBL-only portfolio fair value movement • Overall, the OBL-only value of the portfolio Highlights A$28m has increased by A$56m. A$149m • The OBL-only attribution of new commitments depends on the general and carry terms for the relevant funds and performance (A$68m) Portfolio sidecar arrangements. (A
Slide 15: Financial results
03 Financial results FY26 RESULTS | 27 August 2026 15
Slide 16: Consolidated P&L
Consolidated P&L IFRS walk • FY25 includes the Fund 9 transaction, comprising deconsolidation/ Highlights A$m FY26 FY25 derecognition of Funds 2, 3 and 4 and recognition of OBL residual interests as financial assets at fair value. Investment proceeds 350.5 235.5 Fee income 35.4 30.3 • Due to these a
Slide 17: OBL-only fair value P&L
OBL-only fair value P&L Non-IFRS management accounts • The OBL-only fair value P&L (non-IFRS management accounts) Highlights A$m FY26 FY25 provides for a better understanding of the overall net value generation, realised and unrealised in the period. Investment proceeds 54.1 42.7 Fee income 35.4 30.
Slide 18: OBL-only cash P&L
OBL-only cash P&L Non-IFRS management accounts • The non-IFRS OBL-only cash P&L provides a further Highlights A$m FY26 FY25 understanding of the net cash generation for the period, excluding the impact of the fund consolidation and fair value Investment proceeds 54.1 42.7 movements. Proceeds from se
Slide 19: Continued improvement in cost coverage
Continued improvement in cost coverage Fee income Increasing fee income Highlights • Continued strong growth in fee income; achieved A$35m target for FY26, with a 29% CAGR since FY23. GR 29% CA A$40m to A$45m A$35m • Fee income target for FY27 at A$40 – 45m, supported by AUM growth A$30m and improvi
Slide 20: OBL-only cashflow and liquidity
OBL-only cashflow and liquidity • OBL-only cashflow and liquidity 19 has overall developed within expectations. Highlights • In aggregate, A$125m is available for OBL-only investment deployments, opex and payables, with an additional A$33m due from agreed settlements, which had been largely received
Slide 21: OBL-only cashflow and liquidity profile
OBL-only cashflow and liquidity profile Probabilistic 12-month forward-looking OBL-only cashflow and liquidity • The candlestick chart for investment activities shows the expected range of 12M forward cashflows for the portfolio. It highlights the average forecast and Highlights the likely spread of
Slide 22: Strategic update
04 Strategic update FY26 RESULTS | 27 August 2026 22
Slide 23: Capital formation
Strategic update Capital formation • New third-party capital raised in FY26 of A$862m.1 Highlights • US$1bn capital raising target reached for Funds 4/5 series II, making Omni Bridgeway the positive standout in global legal finance.1 • Commitments split circa 40/60% between Fund 4 and Fund 5 to bett
Slide 24: Strategic context
Strategic context OBL is well positioned to benefit from the evolution of the legal finance industry Highlights Legal Assets Omni Bridgeway • Unique asset class with attractive investment characteristics and the ability to • The only listed institutional-grade investment manager generate strong asym
Slide 25: Executing the plan
Executing the plan Highlights Restructuring - Transition Execution Sustainable growth Phase 1 - Completed Phase 2 - In progress Phase 3 - Early stages Deleveraged the balance sheet Successful capital formation Capitalising on improved pricing & opportunity set performance Portfolio − Repaid A$250m d
Slide 26: Growth drivers and direction
Growth drivers and direction Sustainable growth within the parameters of capital-light strategy and increasing cost coverage Highlights Growth by expanding existing strategies Continued underlying growth of legal services industry performance Portfolio Continued increase of legal World’s leading alt
Slide 27: Strategic projects and goals
Strategic projects and goals FY27 strategic projects Targets for FY27 and beyond Highlights The analyst data pack as released • Continued acceleration of portfolio in March 2026 has been updated completions. A$72.5 – 75 million cash opex for FY27 with data as at June 2026. • Increase market share in
Slide 28: Annexures
05 Annexures FY26 RESULTS | 27 August 2026 28
Slide 29: Footnotes
Footnotes 1 This includes subscriptions for over US$300m on substantially agreed terms pending finalisation and completion 12 EPS is calculated as NPAT attributable to equity holders of the parent divided by the weighted average Highlights of legal documentation. number of ordinary shares. 2 AUM equ
Slide 30: Notes
Notes • The investments of Fund 6 and Fund 8 are consolidated within the Group Consolidated Financial Statements, along with the interest of the respective external Fund investors if applicable. • References to OBL-only reflect the amounts attributable to equity shareholders excluding the external F
Slide 31: Reconciliation
Reconciliation Slide 17 OBL-only fair value P&L Slide 16 Financial results – Consolidated Group Highlights A$m FY26 FY25 A$m FY26 FY25 Investment proceeds 54.1 42.7 Investment proceeds 350.5 235.5 Fee income 35.4 30.3 Fee income 35.4 30.3 performance Realised income (A) 89.5 73.0 Portfolio Interest
Slide 32: Reconciliation (cont'd)
Reconciliation (cont'd) Cash opex reconciliation Slide 16 Financial results – Consolidated Group Highlights Slide Reference Remark A$m A$m FY26 FY25 Slide 16 Platform expenses 72.6 Investment proceeds 350.5 235.5 Minus: Finance costs (1.3) FY26 report - Note 7 (a) Fee income 35.4 30.3 Minus: Depreci
Slide 33: Global office contacts
Americas Asia-Pacific Europe, Middle East & Africa Houston New York Montreal São Paulo Melbourne Hong Kong Amsterdam London Dubai +1 713 965 7919 +1 212 488 5331 +1 514 257 6971 For assistance with +61 3 9913 3301 +852 3978 2629 +31 70 338 4343 Link House +971 4 514 4608 LyondellBasell Tower 437 Mad