Nobleoak Life Ltd · ASX:NOL
Nobleoak Life — Shareholder Meeting (November 2025)
24 slides from Nobleoak Life's shareholder meeting presentation, Nov 21, 2025
Slide 1: 2025 Annual General Meeting
For personal use only AUSTRALIA’S FASTEST-GROWING DIRECT LIFE INSURER 2025 ANNUAL GENERAL MEETING 21 NOVEMBER 2025
Slide 2: Board of Directors
Board of Directors For personal use only Ms Sarah Brennan Mr Anthony R Brown Mr Stephen Harrison Chair, Non-Executive CEO and Director Non-Executive Director Director Ms Inese Kingsmill Mr Andrew Boldeman Mr Andrew Gale Non-Executive Director Non-Executive Director Non-Executive Director 2
Slide 3: Agenda and presenters
Agenda and presenters For personal use only 01 02 03 04 05 Chair’s CEO’s Formal General Close address Address business Q&A Sarah Brennan Anthony Brown Non-Executive Chairman Chief Executive Officer 3
Slide 4: Asking a question online
Asking a question online For personal use only 1. Click on the Q&A icon. Type your HIN or SRN first to 2. Type your question into the 3. Hit enter to submit your verify you are a shareholder. Q&A window. message. To contact support: To contact Please support: call 1300 816 159 (within Australia) or
Slide 5: Registration and voting
Registration and voting For personal use only 1 2 3 Go to Once logged in you will see that the Click on “register” to register your https://investor.automic.com.au/#/home meeting is open for registration. attendance for the meeting Click on “view” 4 5 6 Once the Chair of the Meeting To vote simply s
Slide 6: Chair's address
For personal use only 01 Chair’s address 6
Slide 7: Why NobleOak?
Why NobleOak? Australia’s fastest-growing and most awarded direct life insurer For personal use only What sets NobleOak apart Investment highlights ASPIRATION CLEAR PATHWAY Predictable annuity revenue TO $1BN IN-FORCE from in-force premiums Rapid market share growth with ~10% share in sight. Strong
Slide 8: Transition to Life Company structure
Transition to Life Company structure Will deliver long-term capital efficiency, flexibility and governance benefits For personal use only Transition from Friendly Society to Life Company Key benefits: Involves replacing multiple benefit funds with single More efficient capital structure, reducing ca
Slide 9: Capital Management Framework
Capital Management Framework Disciplined framework to deliver accretive growth and maximise shareholder value For personal use only Capital Deployment Principles Target Capital Range Capital Management Framework Maximum Preserve strategic flexibility Free cash flow from operations capital Maintain r
Slide 10: CEO's address
For personal use only 02 CEO’s address 10
Slide 11: FY25 highlights
FY25 highlights Ongoing outperformance and strategic delivery For personal use only Strong sales drives in-force growth ahead of guidance Continued market share growth in direct and advised markets Australia’s most awarded direct Life Insurer six years running WINNER Investing for long-term growth w
Slide 12: FY25 financial highlights
FY25 financial highlights Strong financial performance continues For personal use only In-force premiums1 New business Lapse rate1 Underlying NPAT2 $464.2m $63.7m 12.2% $18.3m +20% vs. FY24 +17% vs. FY24 ~5.3ppts below industry +22% vs. FY24 Ahead of guidance of ~15% In-force premium market share3 N
Slide 13: NobleOak's Embedded Value (EV)
NobleOak’s Embedded Value (EV) EV1 reflects significant premium to current equity valuation Key takeaways For personal use only Significant EV growth since IPO ($m) 197.6 NobleOak EV at 31-Dec-24: 21.7 $197.6m or $2.16 per share2 3.1 (using 8.5% IPO discount rate for comparison purposes) Material in
Slide 14: FY26 outlook
FY26 outlook On track to deliver our FY26 targets For personal use only In-force premium growth >15% Underlying NPAT growth >10% 14
Slide 15: Formal business
For personal use only 03 Formal business 15
Slide 16: Item 1. Financial statements and reports
Item1. Financial statements and reports For personal use only To receive and consider NobleOak’s Financial Report, Directors’ Report and the Auditor’s Report for the Company and its controlled entities for the year ended 30 June 2025 16
Slide 17: Item 2. Adoption of Remuneration Report
Item 2. Adoption of Remuneration Report For personal use only To consider and, if thought fit, pass the following resolution as an ordinary resolution: Item 2 “That the Remuneration Report for the year ended 30 June 2025 be adopted.” For Open Against Abstain 32,296,814 639 2,282 1,232 99.99% 0.00% 0
Slide 18: Item 3. Re-election of Director
Item 3. Re-election of Director For personal use only To consider and, if thought fit, pass the following resolution as an ordinary resolution: Item 3 “That Inese Kingsmill, being eligible and offering herself for re-election, be re-elected as a Director.” For Open Against Abstain 32,400,480 639 406
Slide 19: Item 4. Re-election of Director
Item 4. Re-election of Director For personal use only To consider and, if thought fit, pass the following resolution as an ordinary resolution: Item 4 “That Stephen Harrison, being eligible and offering himself for re-election, be re-elected as a Director.” For Open Against Abstain 32,805,480 639 1,
Slide 20: Item 5. Approval of Long-Term Incentive Plan for the CEO for FY26
Item 5. Approval of Long-Term Incentive Plan for the CEO for FY26 For personal use only To consider and, if thought fit, pass the following resolution as an ordinary resolution for the purposes of ASX Listing Rule 10.14: Item 5 “That approval be given for the grant of 343,156 performance rights to t
Slide 21: Q&A
For personal use only 04 Q&A 21
Slide 22: Close
For personal use only 05 Close 22
Slide 23: Important notice and disclaimer
Important notice and disclaimer CONTENT OF PRESENTATION FOR INFORMATION PURPOSES ONLY For personal use only Forward-looking statements This presentation may contain statements that are, or may be deemed to be, forward-looking statements. Such statements can generally be identified by the use of word
Slide 24: Important notice and disclaimer (continued)
Important notice and disclaimer (continued) CONTENT OF PRESENTATION FOR INFORMATION PURPOSES ONLY For personal use only Presentation of information The financial data in this presentation is provided on a statutory basis but in a non-statutory presentation format (unless otherwise stated). Currenc