Swoop Holdings Limited · ASX:SWP
Swoop — Investor Presentation (December 2025)
37 slides from Swoop's investor presentation, Dec 3, 2025
Slide 1: Investor Update and Capital Raising
Investor Update and Capital Raising December 2025
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Swoop Holdings Limited ACN 009 256 535 (SWP or the Company) and is dated 3 December 2025. This presentation contains summary information about the Company as at the date of this presentation (unless otherwise stated) and has been prepared in relation
Slide 3: Disclaimer (cont.)
Disclaimer (cont.) Future Performance This document contains certain forward looking statements and comments about future events including the Company’s expectations about the performance of the SWP group and forecast financial information for SWP. Forward looking statements can generally be identif
Slide 4: Investor summary
Investor summary § Revised strategic focus on three core products: ‒ Mobile opportunity: Award‑winning mobile virtual network operator (“MVNO”) delivering cash‑generative growth underpinned by a compelling value proposition rooted in customer support and no lock-in contracts Revised strategic focus
Slide 5: FY25 Re-cap
FY25 Re-cap
Slide 6: Two brands, three core products
Two brands, three core products Premium provider Melbourne Fibre National nbn coverage National Mobile Residential mobile of Residential and SMB for price-conscious customers Broadband $106.5m $5.1m ~205,000 Revenue (FY25) Free cash flow (FY25) SIOs as at June 2025 +20% YoY FW/nbn/MVNO 6
Slide 7: FY25 highlights
FY25 highlights FY25 Revenue1 of $106.5m, up 20% on FY24 Revenue. Revenue from Internet, Data and Mobile services grew organically by 21% in FY25 to $96.4m. Underlying EBITDA2 of $15.2m. Core Business3 EBITDA which excludes one-off co-build projects and discontinued operations is up 14% on FY24. Str
Slide 8: Growth since listing
Growth since listing The business has experienced substantial growth, both organically and through strategic acquisitions Notes: 1. EBITDA excludes non-cash (share-based payment expenses) and other non operating items (acquisition and integration 2. Refer to page 14 for the Company’s estimates of th
Slide 9: Profit and loss
Profit and loss § Excluding discontinued operations and the timing impacts of co-build income, revenue is up 32% YoY. Summary financial results1 § Driven by earnings on key contracts and strong nbn TC4 and $000 FY24 FY25 Change mobile service sales, which have been underpinned by our scalable delive
Slide 10: Cash flows
Cash flows Summary cash flows $000 FY24 FY25 § Operating cash flow is up $6.9m, reflecting revenue growth, project receipts and a higher level of co-build Customer receipts 91,812 111,964 receipts. This has been partly offset by the lower cash Co-build income received 577 1,449 flows from discontinu
Slide 11: Balance sheet
Balance sheet § Closing cash balance at June 2025 of $8.0m with $10.0m in undrawn facilities for a total closing available funding position of $18.1m. § Deferred consideration (Moose earn-out payment for the Summary balance sheet ($000) Moose Second Performance Period) paid during the year. § Intang
Slide 12: Outlook: Focus. Divest. Grow
Outlook: Focus. Divest. Grow
Slide 13: Focus on core products
Focus on core products ~127,000 SIOs1 ~61,000 SIOs1 $100m+ Opportunity +35% organic growth +218% organic $57m committed revenue, (since acquisition) growth YoY $61m pipeline nbn Core Fibre Fast-growing challenger in Strong momentum in nbn market, with automated activation Melbourne Fibre Rollout. pl
Slide 14: Divest non-core offering
Divest non-core offering Completed divestment Proposed non-core divestments Previous divestment (Voicehub) Divestment processes underway Well progressed Illustrative impact to FY251 § Divested the business for $8.8m, for § Data centre (other product revenues) § $9-10m of non-binding indicative offer
Slide 15: Grow margin
Grow margin Targeting a $5m+ margin increase through mobile and nbn userbase Working to increase our Targeting a ~10% margin Targeting an increase of $5m+ gross margin % over the next improvement across our in annual cashflow 2-3 years core products1 from mobile and nbn user base1 Notes: 1. Target m
Slide 16: Target growth over time
Target growth over time Investment in systems and automation, combined with a major reduction in COGS, allows headcount costs to remain flat while recurring revenue almost doubles and EBITDA doubles. Mobile and nbn SIOs (#) Recurring Revenue ($m) Underlying EBITDA ($m) >$185m >$35m >300k ~187k ~$95m
Slide 17: Why nbn and Mobile?
Why nbn and Mobile? We’re winning, we do it well and it’s capex lite. Product ratings: Swoop is the #1 rated ISP across major brands 4.8 / 5.0 Winner ▶︎ Winner ▶︎ Product Review AFR 5 star(s) Internet & Mobile Service Customer Champions Awards 4.6 / 5.0 4 star(s) 5x Consecutive Winner ▶︎ 4x Consecut
Slide 18: Mobile
Mobile Award-winning service provider with its customer value proposition rooted in customer support and no lock-in contracts. Number of Mobile SIOs § Swoop’s MVNO delivers strong revenue growth with healthy cash generation June 2021 to June 2025 § Swoop operates to capture market share in lower-dat
Slide 19: nbn
nbn Q3 FY25 Net Adds Q4 FY25 Net Adds SLC 42,147 Vocus 33,668 ABB 33,495 Other 26,453 We are one of the fastest growing nbn providers in Australia – Vocus 21,722 SLC 12,003 we do it well and it’s capex lite. Swoop 3,976 Swoop 6,895 Other (3,854) Optus (351) § Swoop’s rapid growth continues, with act
Slide 20: Melbourne fibre network
Melbourne fibre network Melbourne is a hyperscale growth hub with Amazon, Microsoft, Google, and Meta expanding capacity. AI driving Data Centre investment and huge growth in connectivity (fibre) requirements. National DC capacity set to more than double by 2030 – Melbourne a key beneficiary with ne
Slide 21: Melbourne fibre financials
Melbourne fibre financials Project nearly fully funded with foundation hyperscaler and telco customers, with massive upside as DC market grows in the region. $57m $61m Remaining committed revenues to be received throughout construction. 1HFY26 – 15% Committed New sales 2HFY26 – 25% revenue pipeline
Slide 22: Q1 FY26 sales and revenue update
Q1 FY26 sales and revenue update Revenue of $33.1m up 46% on Prior Corresponding Period (pcp) Recurring revenue 1 of $27.4m up 22% on Prior Corresponding Period (pcp) Gross margin of $9.0m up 11% on Prior Corresponding Period (pcp) EBITDA of $2.9m down 9% on Prior Corresponding Period (pcp) nbn SIO
Slide 23: Illustrative valuation benchmarks
Illustrative valuation benchmarks Based on recent transactions in the nbn and MVNO space, it is clear to see that SWP is very much undervalued 127,000 Mobile Services 61,000 nbn Services in Operation in Operation § Recent transactions § Recent transactions (e.g. Circles, Amaysim) putting the (e.g. S
Slide 24: Capital Raising
Capital Raising
Slide 25: Equity raising overview
Equity raising overview § 1 for 2.14 accelerated non-renounceable entitlement offer to raise up to $10 million § The Entitlement Offer comprises: ‒ An accelerated institutional offer to raise $2.8 million (“Institutional Entitlement Offer”) Offer size and § Approximately 27.9 million new Swoop share
Slide 26: Sources and uses of proceeds
Sources and uses of proceeds Sources ($m) Min Max § Net proceeds from the Entitlement Offer will be applied to provide funding of the Company’s working capital and capex Institutional Entitlement Offer 2.8 3.0 requirements associated with construction and delivery of the Melbourne Fibre Project Reta
Slide 27: Equity raising timetable
Equity raising timetable Event Date Trading halt and announcement of Entitlement Offer Wednesday, 3 December 2025 Announcement of results of Institutional Entitlement Offer Friday, 5 December 2025 Trading halt lifted and Swoop shares recommence trading Friday, 5 December 2025 Entitlement Offer Recor
Slide 28: Appendix A Key Risks
Appendix A Key Risks
Slide 29: Key risks
Key risks Introduction This section discusses some of the key risks associated with an investment in Swoop Shares and risks related to participation in the Entitlement Offer. This is not an exhaustive list of relevant risks and the risks set out on the following pages are not in order of important t
Slide 30: Key risks (cont.)
Key risks (cont.) Key business risks and general risks Additional requirements The funds raised under the Offer (combined with the Company’s existing cash reserves) are expected to be sufficient to achieve the Company’s immediate objectives. However, additional funding may be for capital and dilutio
Slide 31: Appendix B Summary of Underwriting Agreement
Appendix B Summary of Underwriting Agreement
Slide 32: Summary of Underwriting Agreement
Summary of Underwriting Agreement The Company has entered into the Underwriting Agreement with the Lead Manager as the Underwriter. • a Certificate is not furnished as required by the Company under the Underwriters Agreement; Unless otherwise specified in this summary, capitalised (but undefined) te
Slide 33: Summary of Underwriting Agreement
Summary of Underwriting Agreement The Lead Manager may also terminate the Underwriting Agreement and be released from its obligations • there is introduced, or there is a public announcement of a proposal to introduce, a new law under it on the occurrence of certain events where in the reasonable op
Slide 34: Summary of sub-underwriting arrangements and pre-commitments
Summary of sub-underwriting arrangements and pre- commitments Certain existing shareholders have entered into agreements to sub- The Commitment Letters and Sub-Underwriting Letters are on standard underwrite the shortfall arising under the Entitlements Offer, in addition to market terms for document
Slide 35: Appendix C International Offer Restrictions
Appendix C International Offer Restrictions
Slide 36: Selling restrictions
Selling restrictions This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country outsi
Slide 37: Thank you
sw°op Thank you swoop.com.au
Swoop Holdings — Investor Presentation (December 2025) on 6ix