Liberty Financial Group Ltd · ASX:LFG
Liberty Financial — FY2026 Earnings Presentation
39 slides from Liberty Financial's earnings presentation, Aug 24, 2026
Slide 1: Liberty Financial Group FY26 Full Year Results
Liberty Financial Group FY26 Full Year Results 24 August 2026
Slide 2: Acknowledgement of Country
Acknowledgement of Country Liberty acknowledges the traditional owners of country throughout Australia. We acknowledge their continuing connections to the lands, waters, cultures and communities. We pay our respect to Elders past and present. In doing so we also acknowledge that sovereignty has neve
Slide 3: Presenting today
Presenting today James Boyle Peter Riedel Chief Executive Officer Chief Financial Officer |3
Slide 4: Agenda
Agenda 01 Overview 02 Results Analysis 03 Business Update 04 Outlook 05 Summary 06 Questions |4
Slide 5: 01 Overview
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Slide 6: Overview
Overview Continued profit growth momentum in FY26 % NIM expansion from asset mix and positive funding markets Stable impairment expense reflects resilient credit quality Effective cost management with lower cost to income ratio Record originations supported by exceptional service Investment grade ba
Slide 7: Financial Highlights
Financial Highlights % Underlying NPATA Net revenue NIM $155.6m ($145.0m) $626m ($604m) 2.50% (2.49%) +7% +4% +1bps BDD Cost to income Distribution 19bps (19bps) 26.8% (27.1%) 52.5c# (51.9c^) 0bps (30bps) +1% *Balances represent: FY26 (FY25) change between the periods |7 # Distribution & dividend in
Slide 8: Operating Highlights
Operating Highlights Financial assets New assets originated Impaired loans $15.2b ($14.7b) $6.1b ($5.1b) $335m ($341m) +3% +20% (2%) Average FTE Staff Broker NPS Customer NPS 511 (524) 89 (83) 57 (58) (2%) +7% (2%) |8 *Balances represent: FY26 (FY25) change between the periods
Slide 9: 02 Results Analysis
02 Results Analysis
Slide 10: Profit Performance
Profit Performance Underlying NPATA ($m) Underlying NPATA ($m) 155.6 Decrease in Underlying NPATA 82.3 (2H26 v 1H26) explained by 145.0 73.6 73.3 • Higher net interest income 132.0 ($7m), offset by • Higher impairment expense ($13m) • Higher operating expense driven by Moula acquisition ($5m) 2H25 1
Slide 11: Profit Drivers
Profit Drivers Total Revenue ($'m) Loan Impairment (bps) 731.1 712.2 728.6 Impairment higher 9bps (2H26 v Total revenue increased 2% 14 1H26) with higher provisions due (2H26 v 1H26) driven by higher to increased delinquency and average portfolio and higher yield 10 more conservative economic from R
Slide 12: Revenue
Revenue Average Assets ($'b) Lending Income ($'m) 14.7 14.7 15.0 Average assets growth 2% (2H26 46.0 45.7 v 1H26 and 2H25) as new 43.2 origination exceeds discharge New originations $3.0b in 2H26 (v Movement reflects movements in $3.1b 1H26 and $2.3b 2H25) new loan origination volumes Loan discharge
Slide 13: Funding
Funding Cost of Funding Term Funding ($b) 5.86% 8.5 2.7 8.4 2.0 8.4 5.39% 5.56% (2.0) 4.15% 3.71% 3.94% (2.8) 1.71% 1.68% 1.62% New New 2H25 1H26 2H26 Jun-25 Repaid Issues Dec-25 Repaid Issues Jun-26 Benchmark Margin 167bps 114bps 163bps 107bps 151bps Funding margin 162bps in 2H26 (decrease of 6bps
Slide 14: Delinquency
Delinquency +30 Day Delinquency +90 Day Delinquency 4.08% 3.97% 2.32% 2.20% 3.28% 1.91% 2H25 1H26 2H26 2H25 1H26 2H26 Increase in delinquency at 2H26 as rate rises increase customer Late-stage delinquency improved with annual decrease to 30- hardship Jun-26 (12bps) versus annual increase to 30-Jun-2
Slide 15: Loss Provisions
Loss Provisions Portfolio by Stage ($'m) Collective Provision Provisions by Nature ($'m) by Stage ($'m) $15,249 65 103 $14,814 60 94 97 $14,667 58 Increase in collective provision reflects higher coverage on a $14,504 58 60 65 more conservative outlook, $13,945 $14,205 50 portfolio growth and higher
Slide 16: Loan Impairment
Loan Impairment 2H25 (10 bps) 2H26 (14 bps) 17 12 13 13 (14) 3 (12) (8) Specific Specific Specific Specific Realised Provision Provision Collective Realised Provision Provision Collective Loss (Release) (Increase) Provision Loss (Release) (Increase) Provision 1H26 (5 bps) 13 12 (17) (3) Impairment e
Slide 17: Operating Expenses
Operating Expenses Operating expenses ($m) 2H25 1H26 2H26 Personnel 48 45 50 Cash expense increase of 5% in 2H26 driven by impact of Moula following Dec- Other 34 37 36 25 acquisition Excluding Moula, cash expenses declined Cash expenses 82 82 86 $1m in 2H26 Cost to income stable over the period as
Slide 18: Distribution and Dividends
Distribution and Dividends Distributions and Dividends 3- Year Average Dividend Yield 51.9 52.5 15.0 20.0 3.4% 7.5 25.0 19.9 13.0 9.2% 30.0 5.5% 5.3% 5.7% 3.7% 12.0 12.0 FY24 FY25 FY26 CBA WBC NAB ANZ LFG Final Interim Special Yield Special Dividends Four quarterly interim distributions of 7.5 cents
Slide 19: Financial Position
Financial Position $m Jun-25 Jun-26 Cash 888 825 Strong liquidity position with total ($9.3b) and available ($4.0b) limits at 30-Jun-26 against Financial assets 14,660 15,216 FY26 originations of $6.1b Stable balance sheet and conservative leverage Loans to related parties 77 0 relative to peers Und
Slide 20: 03 Business Update
03 Business Update
Slide 21: Business Update
Business Update Record group new loan originations Stable residential portfolio supported by improved discharges Commercial lending and portfolio growth remains strong Motor finance portfolio returned to growth in 2H26 Fin Services portfolio supported by Moula acquisition Continued ongoing effective
Slide 22: Segment Loan Origination
Segment Loan Origination Residential ($'m) Secured ($'m) 1,851 1,111 2H26 loan origination from 1,685 Reduced loan origination in 2H26 1,006 continued growth in commercial from record 1H26 reflects and improved novated lease 1,351 753 subdued consumer demand origination as consumers shift impacted b
Slide 23: Segment Loan Portfolio
Segment Loan Portfolio Residential ($'m) Secured ($'m) 6,557 7,752 7,667 6,124 Continued strong commercial 7,635 Stable portfolio as improving 5,910 portfolio growth with motor discharges and amortisation finance portfolio also returning to offset lower new loan origination growth Annualised dischar
Slide 24: Relative Value Drivers
Relative Value Drivers Net Interest Margin Cost to Income Ratio 2.50% 66.5% 63.0% 59.1% 2.05% 2.10% 1.92% 52.6% 1.81% 1.78% 50.5% 49.4% 50.0% 1.67% 1.63% 44.9% 44.9% 1.53% LFG Bank 1 Bank 2 Bank 3 Bank 4 Bank 5 Bank 6 Non-Bank 1 Non-Bank 2 LFG Bank 1 Bank 2 Bank 3 Bank 4 Bank 5 Bank 6 Non-Bank 1 Non
Slide 25: ESG, People and Culture
ESG, People and Culture AFR Best Places to Work – Large Organisation 2026 AWEI Gold and Most Improved Employer 2026 Diversity Council Australia Inclusive Employer 2026 Women’s Property Initiatives (WPI) partnership Achieved top quartile B Corp Impact Score 98% team members proud to work at Liberty |
Slide 26: 04 Outlook
04 Outlook
Slide 27: Outlook
Outlook Environment supports continued differentiation % Increasing interest rates may impact delinquency Favourable funding markets will continue to support NIM Continued NIM, CTI and ROA peer outperformance Automation to maintain leading operational efficiency Ongoing investment in improving digit
Slide 28: 05 Summary
05 Summary
Slide 29: Summary
Summary Continued profit growth momentum % Leading peer NIM, CTI and ROA with bank-like capital Continuing investment in diversifying customer solutions Record originations underpinning portfolio growth Resilient credit quality and disciplined arrears management Strong liquidity and capital position
Slide 30: 06 Questions
06 Questions
Slide 31: Appendix
Appendix
Slide 32: Who is LFG?
Who is LFG? Liberty Financial Durable Business Model Diversified Portfolio Started 1997 and only investment Advanced risk-management grade non-bank (BBB/stable/A-2) capabilities Pioneered specialty finance industry Proprietary technology supports in Australia and New Zealand operations Over 500 prof
Slide 33: Products and Service
Products and Service Residential Finance Financial Services Australian mortgages Personal loans • Personal loans in Australia • Prime and custom lending for residential owner occupier and investment properties SME loans • SME loans in Australia New Zealand mortgages • Prime and custom lending for re
Slide 34: Segment Performance
Segment Performance Closing Portfolio Net Contribution 6% 6% 6% 7% 7% 14% 11% 10% 15% 12% 39% 40% 41% 41% 43% 60% 62% 54% 54% 59% 55% 54% 53% 52% 50% 27% 29% 28% 31% 34% 2H24 1H25 2H25 1H26 2H26 2H24 1H25 2H25 1H26 2H26 Residential Secured Fin Services Residential Secured Fin Services Net Revenue 35
Slide 35: Expected Credit Loss
Expected Credit Loss ECL by Segment ECL Economic Scenarios ($m) 3.8 0.2 $64.7 $60.4 0.3 $85 20.6 $65 20.4 $54 $49 37.6 33.8 ECL Movement (-) ($16m) ($11m) $20m 6.2 6.5 Calculated 100% 100% 100% ECL upside baseline downside Expected Dec-25 Residential Secured Fin Serv Jun-26 Loss Economic Scenarios (
Slide 36: Reconciliation Statutory to Underlying
Reconciliation Statutory to Underlying $'m FY25 FY26 Statutory NPAT 133.3 143.8 IP amortisation 11.8 11.8 Statutory NPATA 145.1 155.6 Commission income (1.7) - Commission expense 1.4 - Personnel costs - - Other expenses – operating expenses 0.3 - Other expenses - impairment of goodwill - - Other exp
Slide 37: Statutory P&L
Statutory P&L $'m FY25 FY26 Interest income on financial assets measured at amortised cost 1,250.8 1,187.8 Interest income on financial assets measured at fair value 1.0 0.8 Effective yield fee income on financial assets measured at amortised cost 41.6 42.8 Other financial income 198.0 208.9 Other i
Slide 38: Disclaimer
Disclaimer The information provided in this presentation and any information supplied in connection with this No offer of securities presentation (“Presentation”) has been prepared by Liberty Financial Group Limited (ACN 125 611 574) This Presentation is not, and does not constitute, an offer to sel
Slide 39: Thank you
Thank you Thank you
Liberty Financial Group — FY2026 Earnings Presentation on 6ix