Slide 1: FY25 Financial Results & Outlook
FY25 Financial Results & Outlook 20 May 2025 OFX Group Limited ACN 165 602 273
Slide 2: Agenda
Agenda 1. Performance Update 2. NCP Update 3. Financials 4. Strategy 5. Outlook 6. Q&A 7. Appendix 2
Slide 3: Performance Update
Performance Update Skander Malcolm Chief Executive Officer and Managing Director 3
Slide 4: A resilient business with healthy margins and generating cash
A resilient business with healthy margins and generating cash Revenue Profitability Balance Sheet Net operating income Underlying EBITDA Net Cash Held $214.9m $57.7m $77.2m (5.5)% v PCP (10.7)% v PCP +$2.5m v 1H25 NOI margin Underlying EBITDA margin Outstanding debt 56bps 27% $20.0m (3)bps v PCP (16
Slide 5: Navigating uncertain markets with discipline
Navigating uncertain markets with discipline Fee and trading income was impacted by uncertainty… …we continue to optimise business fundamentals Monthly fee and trading Income1 Strong cash generation >90% Operating cash conversion US interest rate easing cycle begins, later than anticipated Trade tar
Slide 6: Consistent revenue through uncertainty
Consistent revenue through uncertainty Corporate Enterprise High Value Consumer Revenue, $m Revenue, $m Revenue, $m 139.1 133.3 133.2 71.6 68.4 68.0 9.5 8.1 6.1 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 (4.3)% v PCP +17.0% v PCP (0.6)% v PCP • Australia +1.7% and US +17.7%, offset by • $9.5m incl
Slide 7: Retaining and growing revenue from valuable Corporate clients
Retaining and growing revenue from valuable Corporate clients Corporate Active Clients, # Average revenue per Corporate client, $ +3% 4,108 4,167 3,892 7,507 7,621 7,632 26,741 26,249 24,335 FY23 FY24 FY25 FY23 FY24 FY25 Clients with <$4k ARPC Clients with $4k+ ARPC • Pivot to dedicated B2B marketin
Slide 8: NCP Update
NCP Update Skander Malcolm Chief Executive Officer and Managing Director 8
Slide 9: Accelerating delivery of 2.0
Accelerating delivery of 2.0 Scalable services Enhanced product and features New Canada website live Apr-25 Apr-25 Canada: First non-bank Visa card issuing license, Apple Pay, Google Pay, card cash back Enhanced fraud system live, even Mar-25 stronger direct debit risk controls Apr-25 Advisor portal
Slide 10: Early traction is encouraging
Early traction is encouraging New NCP clients are adopting more products … Mar-25 actuals, new and existing NCP clients Revenue mix, new NCP clients Platform adoption % of new NCP clients 2,544 Global currency accounts 72% Active Clients on NCP FX 73% Up from 605 in March 2024 FX 70% Budget 26% Card
Slide 11: Financials
Financials Selena Verth Chief Financial Officer 11
Slide 12: A healthy business with strong cash generation
A healthy business with strong cash generation FY24 FY25 V% Fee and trading income • Fee and trading income (3.4)% with lower business confidence impacting Turnover ($bn) 38.4 38.1 (0.8)% corporate client trading, down (1.0)% on a constant currency basis Financial metrics ($m) • Revenue impacted acr
Slide 13: Operating expenses well managed
Operating expenses well managed Underlying operating expenses, $m (3.5)% (3.7)%v PCP V% 162.9 Employment expenses 157.2 151.7 +2 FTEs, lower STI reflecting FY25 performance Employment 105.0 112.5 108.4 (3.7)% (42.7)%v PCP Bad & doubtful debts Improved outcome after strengthened controls in FY24 18.4
Slide 14: Investment in platform focused on value creation
Investment in platform focused on value creation Intangible investment, $m (2.6)% $13.4m 18.7 19.4 18.9 Product & client experience +18.6% v PCP Product Client experience 2k+ 4Q25 Tech deployments Up from 87 in 4Q24, faster delivery Risk, data & security Payments Firma complete in FY24 and move to N
Slide 15: Strong balance sheet, business continues to generate cash
Strong balance sheet, business continues to generate cash Net cash flows from operating activities, $m >90% Operating cash conversion 77.2 (4.0) 1.7 Underlying EBITDA of $57.7m (4.7) 72.5 21.9 converting to net cash flow from operating activities of $72.5m 57.7 $77.2m Net Cash Held +$2.5m v 1H25 • 2
Slide 16: Strategy and Outlook
Strategy and Outlook Skander Malcolm Chief Executive Officer and Managing Director 16
Slide 17: OFX 2.0: external study confirms the opportunity, supports acceleration
OFX 2.0: external study confirms the opportunity, supports acceleration 2.0 2.0 2.0 2.0 2.0 Scale in developed Target Corporate Product suite to Modern client Grow revenue markets ICPs and manage business platform and beyond spot FX Enterprise internationally strong partnership + US$384bn1 10-250 FT
Slide 18: 2.0 expansion beyond FX solves more client problems
2.0 expansion beyond FX solves more client problems Illustration of money flows for a company with international transactions Budgets & spend controls Allocate, approve, and view spend in real time Accounts payable automation Automate invoice capture (via OCR) 2.0 OFX Employee and company cards unlo
Slide 19: 2.0 offers 94% TAM expansion for SMEs in core markets
2.0 offers 94% TAM expansion for SMEs in core markets OFX 2.0 Total Addressable Market 2.0 offers a significant uplift in core market2 opportunity size vs 1.0 US$384bn +94% Global Consumer + Large Corporate + SME opportunity1 US$32bn US$66bn US$66bn Core markets SME opportunity2 US$34bn 1.0 2.0 oppo
Slide 20: Huge opportunity to take share from banks
Huge opportunity to take share from banks Fintech market share Expected Fintech In core regions, 77-87% of SMEs are still using a by region, 2023 growth bank as their primary cross border provider 10-15%, APAC1 8-10% 2023-28 Bank Fintech CAGR 87% 13% 10-15%, NA 5-10% 2023-28 85% 15% CAGR 77% 23% 10-
Slide 21: SMEs are willing to switch for OFX 2.0 value proposition
SMEs are willing to switch for OFX 2.0 value proposition % of SMEs1 that indicated they were ‘very likely’ or ‘somewhat likely’ to Products SMEs are looking for3 switch providers if company offered a solution offering outlined products2 % of SMEs 83% 84% 79% 74% 54% Spend management 54% Accounts rec
Slide 22: A faster path to growth with stronger returns
A faster path to growth with stronger returns Target ICPs are valuable We can self-fund growth Generating a better long-term return Underlying Return on Invested Capital (ROIC) Current ARPC for $4.2k Corporate clients $51.0m Net Available Cash ~ 30% No accelerated + Operating cash generation 26% inv
Slide 23: Acceleration of innovation and investment to capture 2.0 TAM
Acceleration of innovation and investment to capture 2.0 TAM New Client Platform (NCP) integration milestones, all major markets live by FY26 FY25 FY26 FY27 New Corporate +High-Value Consumer onboarding under review Existing Corporate migration + More products and features Limit orders QuickBooks in
Slide 24: Outlook
Outlook Skander Malcolm Chief Executive Officer and Managing Director 24
Slide 25: Outlook
Outlook Uncertain economic conditions FY26-FY27: Long term: FY28+ No NOI guidance for FY26 until Building a more valuable business markets normalise • Strong April revenue with targeted NOI • Includes accelerating NCP roll out and • growth in FY26 Tariffs creating global uncertainty investing in GTM
Slide 26: Q&A
Q&A 26
Slide 27: Appendix
OFX - Appendix
Slide 28: Metrics
Metrics Measure 1H24 Half year 2H24 Half year 1H25 Half year 2H25 Half year FY24 Full year FY25 Full year V% Corporate Turnover $bn 12.2 12.6 12.2 12.3 24.8 24.4 (1.3)% Cross currency (A) $bn 10.5 10.8 10.2 10.2 21.3 20.4 (4.2)% Same currency $bn 1.7 1.8 2.0 2.1 3.5 4.0 16.2% Total client revenue (B
Slide 29: NOI margin
NOI margin NOI margin NOI margin walk 0.71% 0.59% 0.58% 0.67% 0.56% (0.01)% (0.01)% 0.64% (0.01)% 0.59% 0.56% 0.54% FY23 FY24 FY25 FY24 Other FY24 Ex- Consumer Lower FY25 income escrow pricing for interest NOI margin NOI margin (ex same currency) high value rates on transfers client balances 29
Slide 30: Income statement
Income statement $m 1H24 Half year 2H24 Half year 1H25 Half year 2H25 Half year FY24 Full year FY25 Full year V% Fee and trading Income 114.6 115.1 114.5 107.4 229.7 221.9 (3.4)% Net Operating Income 115.1 112.4 111.2 103.7 227.5 214.9 (5.5)% Employee expenses 58.4 54.2 57.4 50.9 112.5 108.4 (3.7)%
Slide 31: Balance sheet
Balance 30-Sep-23 31-Mar-24 30-Sep-24 31-Mar-25 sheet Cash held for own use 67.6 68.1 34.8 51.0 Cash held for settlement of client liabilities 279.4 287.3 243.6 264.7 Deposits due from financial institutions 25.2 19.9 39.9 44.9 Derivative financial assets 41.4 20.4 39.9 33.1 Other assets 18.4 21.2 2
Slide 32: Glossary
Glossary • Active Client: Number of clients that entered into a Transaction with OFX during the stated period, and if not stated, the preceding 12-month period • ATV: Average transaction value • B2B: Business-to-business. Relates to Corporate and Enterprise segments • Corporate: Segment related to b
Slide 33: Thank you
Thank you The material contained in this document is a presentation of general information about OFX Group Limited (Company) and its activities current as at 20 May 2025. Material is provided in summary only and does not purport to be complete. The material contained in this document has been prepar