Change Financial Ltd · ASX:CCA
Change Financial — FY2026 Earnings Presentation
28 slides from Change Financial's earnings presentation, Aug 27, 2026
Slide 1: FY26 Full Year Results Investor Presentation
For personal use only Investor Presentation FY26 Full Year Results 27 August 2026
Slide 2: Delivering Innovative & Scalable Payments Solutions
Delivering Innovative & Scalable Payments Solutions Change provides tailored payment solutions, card issuing & testing to 150+ banks & fintechs across 40+ countries Payment solutions Two core proprietary technology platforms owned & developed in-house provider driving innovation in the banking ecosy
Slide 3: Key Highlights
Key Highlights Delivered on upgraded FY26 revenue & Underlying EBITDA guidance Achieved a 3-year Record financial results from combination of continued revenue growth and stable fixed cost base revenue Compound Delivered maiden full year profit – key milestone Annual Growth Rate (CAGR) of 28% to FY2
Slide 4: Notable FY26 Achievements
Notable FY26 Achievements Commercial Clear & focussed operational roadmap to Commenced branding and value proposition project – new website & sales collateral to be delivered in FY27 deliver shareholder Expanded partnership ecosystem – signed 4 new PaySim partners and a new BIN sponsorship partnersh
Slide 5: FY26 Financial Results
For personal use only FY26 Financial Results
Slide 6: Vertexon PaaS Metrics & Revenue Model
Vertexon PaaS Metrics & Revenue Model Active Cards (thousands) PaaS platform scaling 150k+ cards active in AU & NZ 200 with volume increasing Growth in existing client base – particularly fintech clients – 150 as card numbers significant new cards added in FY26 100 continue to grow Hnry AU & NZ prog
Slide 7: Scaling Revenue with Discipline & Focus
Scaling Revenue with Discipline & Focus PaaS now the largest Revenue (US$m) – H1 vs H2 Revenue by Service Offering (%) contributor of revenue 18.2 FY26 Support & Maintenance Record revenue year Processing & Issuing (PaaS) 15.1 Professional Services 8.9 New client wins Licenses 10.6 19% 7.9 Establish
Slide 8: Strong & Growing Base of Recurring Revenue
Strong & Growing Base of Recurring Revenue FY26 Revenue (US$m) Recurring revenue providing a solid base US$13.2m (A$18.9m) 0.6 3.0 18.2 Recurring Revenue 2.4 for future growth in FY26 – 73% of Revenue 4.3 15.1 For personal use only 3.3 7.5 PaaS Support & One-Off Total Support & One-Off Total Total M
Slide 9: Profit & Loss
Profit & Loss FY26 revenue of US$18.2m (A$26.0m), up 21% on pcp Material EBITDA improvement driven by Record revenue year – growth driven by PaaS revenue revenue growth & Technology & hosting cost decrease driven by exit from US stable fixed cost base PaaS platform delivering operating leverage with
Slide 10: Balance Sheet
Balance Sheet Cash balance of US$3.1m (A$4.4m) Focus on delivering profitable growth to Additional US$1.4m (A$2.0m) held in cash-backed security guarantees required by Change’s scheme & processing partners to continue strengthening enable PaaS offering (Other non-current assets) the balance sheet Cl
Slide 11: Cashflow
Cashflow Cash receipts of US$16.5m (A$23.6m), up 8% on pcp Significant improvement in Growth in PaaS business driving increase & smoothing of cash receipts (clients invoiced monthly in arrears) operating cash flow Significant improvement in net cash flows from operating activities illustrates the st
Slide 12: Outlook
For personal use only Outlook
Slide 13: Key Focus on Accelerating Growth & Scale
Key Focus on Accelerating Growth & Scale Key focus on securing 1 Direct Client Acquisition & Retention client wins in core Sales team repositioned to outbound sales hunting target markets Refreshed Sales enablement materials to increase lead generation and conversion rates Vertexon For personal use
Slide 14: Key Focus on Accelerating Growth & Scale (Outlook)
Key Focus on Accelerating Growth & Scale Key focus on securing 3 Outlook client wins in core Enter FY27 with strong momentum underpinned by record PaaS revenues in June 2026 target markets Expect to further accelerate throughout FY27, driven by: Onboarding of four contracted clients – all forecasted
Slide 15: Investment Highlights
Investment Highlights Strong Foundations Growth & Scale Focus Marquee Customers All regulatory & licensing requirements 70%+ of revenue from recurring Strong validation of PaaS platform with for card issuing in AU & NZ in place revenue streams financial institution & fintech clients in For personal
Slide 16: Appendix
For personal use only Appendix
Slide 17: Accelerating PaaS Growth
Accelerating PaaS Growth 3.4 Change is powering the payments of leading financial institutions & fintechs across Australia & NZ 3.2 Growing client base 3.0 which is continuing to PLATFORM LIVE PLATFORM LIVE NEW ZEALAND AUSTRALIA 2.8 drive PaaS revenue 2.6 growth Currently onboarding four new PaaS 2.
Slide 18: Vertexon On-Premises & PaySim Revenue Model
Vertexon On-Premises & PaySim Revenue Model Vertexon On-Premises Vertexon & PaySim are trusted by leading Client hosts the Vertexon platform in their own environment financial institutions & Current Change clients manage & process more than 45 million credit, debit, & prepaid cards worldwide fintech
Slide 19: Vertexon in the Payments Process
Vertexon in the Payments Process Change’s role in the Processing: An Issuer (Change’s client) using the Vertexon Processing: Customer pays with card (all card networks payments process Platform (technology only) to manage their cards – client is supported) & purchases goods/services from merchant
Slide 20: Vertexon Product Offering
Vertexon Product Offering Vertexon offering can Processing Processing & Issuing be tailored by client to • Provide core technology to enable card issuing & • Provide Processing capability + the following key card offer services that best management including: Issuing capabilities: suit client & end
Slide 21: Market Overview – New Zealand
Market Overview – New Zealand Banking in New Zealand is dominated by the Big 4 banks 27 registered banks plus several credit unions & building societies No payment aggregation services providers for smaller players & historically limited innovation outside the Big 4 Banks Estimated that smal
Slide 22: Market Overview – Australia
Market Overview – Australia Australian Annual Transaction Volume by Type of Retail Payment 1 Card based payments now dominate 12 Scheme & EFTPOS Debit Cards Total Number of Transactions transaction volume in 10 Australia 8 (billions) 6 For personal use only 4-Party & 3-Party Credit & Charge Cards 4
Slide 23: Market Overview – Australia (cont.)
Market Overview – Australia (cont.) Whilst the Big 4 banks have a significant position in the Australian card issuing market, there is a materially larger opportunity than in New Zealand Change is seeking to leverage the recent success in the NZ market to target the sizeable AU market Small to
Slide 24: PaySim – Critical Payments Infrastructure Testing Tool
PaySim – Critical Payments Infrastructure Testing Tool PaySim enhances Simulates the full transaction lifecycle, enabling banks & fintechs to complete speed to market for end-to-end testing of their payment platforms, processes & scheme rule PaySim is an all-in-one modular clients by delivering co
Slide 25: PaySim Market Overview – Global
PaySim Market Overview – Global Extremely powerful modular end-to-end payments testing & certification solution embedded into tier 1 banking & payments institutions globally Core based on global messaging standard ISO 8583 & ISO 20022 Default standard & benchmark for EFTPOS testing in Australi
Slide 26: Building the Commercial Team to Drive Growth
Building the Commercial Team to Drive Growth Change continues to strengthen and evolve its sales team to be focused on outbound sales ‘hunting’ for Vertexon (Australia) & PaySim (Global) given the significant market opportunity For personal use only VP Bus. Dev. (Vertexon & PaySim) Asia Pacific Ch
Slide 27: Disclaimer
Disclaimer Change Financial Important Notice This presentation has been prepared by Change Financial Limited (Change Financial) in good faith. No express or implied warranty is given as to the accuracy or completeness Limited of the information in this document or the accompanying presentation. All
Slide 28: Thank you.
Thank you. For personal use only Engage directly with us by posting your questions on our latest announcements via our Investor Hub. You can view and comment on this announcement here. Stay Connected Receive ASX announcements and company updates directly to your inbox, access video summaries, join o