Slide 1: 1H25 Investor Presentation
1H25 Investor Presentation ASX HMY David Stevens CEO and Managing Director Simon Ward CFO All values are in $AUD unless stated otherwise HARMONEY ©2025 1H25 INVESTOR PRESENTATION 20 FEBRUARY 2025 1
Slide 2: Contents
Contents 1. 1H25 Highlights & profit guidance 2. About us 3. Financial results 4. Outlook Appendix HARMONEY ©2025 1H25 INVESTOR PRESENTATION 20 FEBRUARY 2025 2
Slide 3: 1H25 Highlights & Profit guidance
1H25 Highlights & Profit guidance HARMONEY ©2025 1H25 INVESTOR PRESENTATION 20 FEBRUARY 2025 3
Slide 4: 1H25 Highlights vs 1H24 (pcp)
1H25 Highlights vs 1H24 (pcp) $2.0m Statutory NPAT $2.3m Cash NPAT 13% Cash RoE Lending & book growth Achieved $2.0m statutory 350% increase driven by Well on track for Stellare® 2.0 propelled profit for the half, up from operating performance achieving 20% cash +43% Australian new $0.6m loss. improv
Slide 5: FY25 Guidance and FY26 Target
FY25 Guidance and FY26 Target FY24 Actual FY25 Guidance FY26 Target Cash NPAT $0.7m $5m $10m+ 20% run-rate in 2H25 Cash ROE 2% 25%+ 13% achieved in 1H25 FY25 Guidance: $5m Cash NPAT FY26 Target: Accelerated growth ● Stellare® 2.0 rollout completed across both ● Stellare® 2.0 helping more prime appli
Slide 6: About us
About us HARMONEY ©2025 1H25 INVESTOR PRESENTATION 20 FEBRUARY 2025 6
Slide 7: What sets Harmoney apart
What sets Harmoney apart Fair, simple, personal loan Loans up to $70,000, average $18,000 Consumer-direct lending, data driven automation Personalised pricing ● AU & NZ’s largest 100% consumer-direct online lender 5.7% - 24.99% ● Market opportunity >$150bn, current market share <1% One establishment
Slide 8: Data + AI Automation
Data + AI Automation Every month, over 10,000 new High volumes of real-time consumer financial data – customer applications help us combined with our 10+ years of historic data – improve our AI and automation supercharges training of our AI models, helping us optimise for: 2021 & 2023 ● Highly effici
Slide 9: The Harmoney business model maximises customer lifetime value
The Harmoney business model maximises customer lifetime value Right customer Great experience Massive scale • Build reliable target customer models • First-class customer experience • Exploit tech to build scale, speed, through AI and high quality first-party creates annuity revenue as and automation
Slide 10: Experienced & shareholder aligned leadership team
Experienced & shareholder aligned leadership team Deep FinTech experience, large shareholdings (Board & Management 30%) and long term incentive share plan. Long term commitment with average tenure 7+ years across the leadership team. David Stevens Simon Ward Brad Hagstrom Richard Wyke Glen MacKellai
Slide 11: Financial results
Financial results HARMONEY ©2025 1H25 INVESTOR PRESENTATION 20 FEBRUARY 2025 11
Slide 12: Cash NPAT growth 350%
Cash NPAT growth 350% 1H25 1H24 Change Loan book $783m $756m 4% Revenue $64m $60m 7% Net interest income 1H25 new lending >10% 9.0% 9.2% 20bps reduction Risk adjusted income 5.3% 5.0% 30bps improvement Acquisition to originations ratio 3.2% 3.3% 10bps improvement Cost to income ratio 1 18% 21% 300bp
Slide 13: Stellare 2.0 driving loan book growth and revenue growth
Stellare 2.0 driving loan book growth and revenue growth Revenue growth of 7% on pcp Revenue growth ● Stellare 2.0 driving a re-acceleration in loan book growth, with the loan book up +4% on pcp. CAGR 26% ● AU loan book up +14% on pcp, now 57% of Group. ● NZ loan book down -6% on pcp, but originati
Slide 14: Interest margin up and credit losses down
Interest margin up and credit losses down Margin after credit losses 5.3% Margin drivers all positive ● Interest rate on loan book up to 16.8%. ● Funding rate down to 8.1%. ● Loan book NIM back up to 9%, with new lending NIM >10% through the half. ● Credit losses down to 3.7%. NIM 9%, Risk adjusted
Slide 15: Credit performance strengthening
Credit performance strengthening Credit losses down 50bps Annualised loss rate ● Deep consumer-direct data and AI credit models delivering prime loan book. ● Prime portfolio with 72% employed in professional, office or trades roles and 87% aged 30+. ● Credit losses down 50bps from pcp to 3.7%, on impr
Slide 16: Stellare automation powers scalability
Stellare ® automation powers scalability Scalability drives profitability Cost to income ratio at 18% Cost to ● Loan book up +4%, revenue up +7%, while cash income % Loan book $ operating costs reduced -9%. ● Highly automated Stellare® platform driving further cost to income ratio improvement from 2
Slide 17: Harmoney is capitalised for significant growth without raising any equity
Harmoney is capitalised for significant growth without raising any equity Current cash supports $1.2b loan book Reinvested profits fund loan book growth beyond $1.2b Loans available for sale1 Supports 50% ● Growing profits fund future loan book growth, Unrestricted Cash growth to $1.2b (i.e. $1m pro
Slide 18: Outlook
Outlook HARMONEY ©2025 1H25 INVESTOR PRESENTATION 20 FEBRUARY 2025 18
Slide 19: Every month 10,000 customers apply; Stellare 2.0 helps more of them
Every month 10,000 customers apply with Harmoney Stellare 2.0 helps more of them than ever before Australian new originations Stellare 2.0 new decision engine 1H25 vs 1H24 In Stellare® 1.0 an applicant looking for $5,000 was We were able to offer assessed in a similar way to someone looking for $70,0
Slide 20: Strategic Priorities
Strategic Priorities New core platform to drive growth and expand capability to convert on new opportunities Platform Conversion New opportunities Margin New lending products/features NZ Stellare 2.0 launch AI driven personalisation Pricing optimisation engine e.g. Increase to $100k max loan 2H25 Re
Slide 21: Market Cap vs Business value
Market Cap vs Business value Existing loan book value + Business value at 31 December 2024 ● Proprietary, highly automated Stellare® 2.0 customer $120m+ acquisition and credit assessment engine. Over 10,000 income and new applicants create an account every month. assets embedded $70m+ ● Existing cus
Slide 22: FY25 Guidance and FY26 Target
FY25 Guidance and FY26 Target FY24 Actual FY25 Guidance FY26 Target Cash NPAT $0.7m $5m $10m+ 20% run-rate in 2H25 Cash ROE 2% 25%+ 13% achieved in 1H25 FY25 Guidance: $5m Cash NPAT FY26 Target: Accelerated growth ● Stellare® 2.0 rollout completed across both ● Stellare® 2.0 helping more prime appli
Slide 23: Join our Investor Hub
Join our Investor Hub: harmoney.com.au/invest ● Investor Hub is the best way to stay informed and connected with all things ASX: HMY. ● Comment and ask questions directly to Harmoney’s leadership team and see other investors questions and responses. ● See videos accompanying our ASX announcements, i
Slide 24: Appendix
Appendix HARMONEY ©2025 1H25 INVESTOR PRESENTATION 20 FEBRUARY 2025 24
Slide 25: $783m Loan Book
$783m Loan Book Loan Employment Region purpose status HARMONEY ©2025 1H25 INVESTOR PRESENTATION 20 FEBRUARY 2025 25
Slide 26: Shareholder composition: 30% management owned plus 10% long term incentive plan
Shareholder composition: 30% management owned plus 10% shareholder aligned long term incentive plan 30% management owned Long term incentive share plan ● Long term incentive share plan 10% of share capital. Post-IPO Investors ● Targets aligned with long term shareholder growth. 32% Substantial share
Slide 27: Profit and loss
Profit and loss 6 Months ended 6 Months ended 6 Months ended 31 December 2024 30 June 2024 31 December 2023 #039;000 #039;000 #039;000 Interest income 64,428 61,340 60,323 Other income 16 808 70 Total income 64,444 62,148 60,393 Interest expense 30,046 29,822 26,026 Incurred credit losses 14,238 15,056 15,64
Slide 28: Key operating and financial metrics
Key operating and financial metrics 6 Months ended 6 Months ended 6 Months ended 31 December 2024 30 June 2024 31 December 2023 Loan book value and growth Total originations (#039;000) 191,339 161,277 165,932 New customer originations (#039;000) 117,179 102,130 93,379 Existing customer originations (#039;000
Slide 29: Cash Flow
Cash Flow 6 Months ended 31 December 2024 6 Months ended 30 June 2024 6 Months ended 31 December 2023 #039;000 #039;000 #039;000 Cash flows from operating activities Interest received 63,486 60,097 59,220 Interest paid (29,233) (29,716) (27,527) Fee income earned / (rebated) 66 362 (1,076) Payments to supplie
Slide 30: Balance Sheet
Balance Sheet 31 December 2024 30 June 2024 31 December 2023 #039;000 #039;000 #039;000 Cash and cash equivalents 47,233 37,744 40,982 Trade and other assets 3,853 2,959 2,671 Finance receivables 786,839 761,471 758,861 Expected credit loss provision (35,782) (36,646) (36,500) Property and equipment 2,611 2,
Slide 31: Important notice and disclaimer
Important notice and disclaimer The material in this presentation is provided for general information purposes No representation or warranty, express or implied, is made as to the fairness, only and is current as at the date of this presentation. It is not a prospectus or completeness, accuracy, ade