Slide 1: FY25 Results Investor Presentation
FY25 Results Investor presentation For the full year ended 30 June 2025 19 August 2025 1
Slide 2: Contents
Contents 1. 2. Overview of FY25 Financial results 3. For the full year ended 30 June 2025 4. XX August 2025 Appendix Summary
Slide 3: Overview of FY25
1. Overview of FY25 Brett Morgan Managing Director & CEO FY25 Results Investor Presentation
Slide 4: A landmark year for the MyState Group
A landmark year for the MyState Group ● Completed transformational merger with Auswide Bank ● Achieved annualised synergies of $8.4 million in the four months since merger ● Loan book growth post-merger of 7.5% on an annualised basis ● Successfully executed key growth initiatives across MyState Bank
Slide 5: FY25 summary
FY25 summary $12.9b $10.1b $41.3m Home loan book Customer deposits Underlying net profit after tax +62% on pcp +71% on pcp +17.0% on pcp Statutory net profit after tax $35.6m 17.5% 30.7 cps 11.0 cps Total capital Underlying earnings per share Final dividend +109 bps on pcp -4.2% on pcp +0.5 cps on I
Slide 6: Integration on track
Integration on track Achieved annualised synergies of $8.4m in the four months since the merger completed Leadership in place \ Combining our teams Focus on our people Early cost synergies realised • Single Board and executive • Consolidation of Group services • Launched new Group purpose • Single B
Slide 7: Delivered on key strategic initiatives
Delivered on key strategic initiatives Delivered New digital Selfco acquisition & Business Lending merger with capability Elders partnership optimisation portfolio Auswide program growth ● Significant increase in ● Retail customer base ● Acquired Selfco in ● Building significant ● Equipment finance
Slide 8: Financial results
2. Financial results Gary Dickson CFO FY25 Results Investor Presentation
Slide 9: FY25 financial overview
FY25 financial overview Metric FY25 FY24 FY25 v FY24 Total operating income ($m) 186.6 152.4 22.4% Relative to FY24: Total operating expenses ($m) 127.0 101.0 25.7% ● Revenue and expenses both materially up due to a 4 month contribution from Core earnings ($m) 1 ,2 59.6 51.4 16.1% Auswide Underlying
Slide 10: FY25 financials by division
FY25 financials by division The merged entity has significantly increased scale, a larger capital base, and a more diversified home loan and deposit portfolio, with improved financial resilience As at 30 June 2025 Banking2 TPT Wealth Corp. & Consolidation MyState Group Home loans ($bn) 12.9 - - 12.9
Slide 11: Full year Underlying and Statutory NPAT
Full year Underlying and Statutory NPAT 4 month earnings contribution from Auswide broadly offset by merger related costs Net profit after tax ($m) 1 3.0 Decrease Increase 0.8 25.9 32.0 0.7 3.0 5.7 41.3 35.3 +17% 35.6 FY24 Underlying Net interest Other banking Wealth Operating Net bad and Income tax
Slide 12: Stable net interest margin
Stable net interest margin Average AverageNIM NIMtrend trend ● Net interest margin up 2bps on FY24 1.63% ● Key themes 1.45% 1.47% o home loan and deposit price competition o deposit switching to higher rate products o impact of OCR reductions in Feb and May-25 o Inclusion of Auswide and Selfco posit
Slide 13: Operating costs
Operating costs Underlying expense growth well managed ● Operating costs continue to be well managed with growth of 3.7% across MyState Bank and TPT Wealth ● The uplift of $26m primarily reflects the inclusion of Auswide for 4 months ($22.3m) ● Personnel costs uplift reflects increased FTE following
Slide 14: Pro forma Underlying NPAT for FY25
Pro forma Underlying NPAT for FY25 The FY25 pro forma results for the merged entity includes 12 months of earnings from Auswide Bank Auswide Bank MyState Bank TPT Wealth Corp. & Consol. MyState Group (pro forma) 2 Total operating income ($m) 139.5 99.1 14.8 0.1 253.5 Total operating expenses ($m) 93
Slide 15: Synergies and integration costs on track
Synergies and integration costs on track Achieved annualised synergies of $8.4m in the four months since the merger completed Synergy & integration costs profile FY25 FY26 FY27 FY28 Actual Forecast Forecast Forecast Target cumulative synergies (1) $ 1.8m* $9-10m $14-18m $20-25m Target annual integra
Slide 16: Growth in quality home loan book
Growth in quality home loan book ● Home loan portfolio $12.9b 90+ days S&P arrears data SPIN Regionals ● Continued focus on low-risk, owner occupied lending with a LVR <80% SPIN Majors MyState Group ● Run-off rate remains elevated 1.20% ● Continued to actively manage the volume margin trade-off 0.80
Slide 17: Diversified funding mix
Diversified funding mix Broader deposit gathering capability since merger Customer deposits ($b) +71% 10.1 ● Customer deposits increased 71% to $10.1b following the merger with Auswide ● Broader deposit gathering capability 4.7 6.2 5.9 o MyState Bank’s digital channel 3.4 3.1 o Auswide’s partnership
Slide 18: Well capitalised for growth
Well capitalised for growth ● At 30 June MyState remains well capitalised with the total capital ratio up 109 bps to 17.5% ● Pro forma June 2025 position reflects the repayment of $25m of Tier 2 capital on 10 July 2025 ● MyState issued $100m of Tier 2 eligible subordinated notes in May 2025 ● Divide
Slide 19: TPT Wealth providing income diversification
TPT Wealth providing income diversification Operating income ($m) 1 15.4 ● TPT contributed $14.6m in fee revenue and income 14.3 14.6 diversification for the Group 5.0 7.4 6.4 ● Expenses were 3% lower than pcp ● FUM has declined following the finalisation of some large estates in FY25 9.3 8.2 8.0 ●
Slide 20: Selfco growing strongly
Selfco growing strongly Operating in a $40 billion equipment finance market Selfco loan book & 90 day arrears ($m) $180.0 0.50% $160.0 $158.5 About Selfco $140.0 0.40% ● Acquired by Auswide in August 2024 $120.0 $110.8 0.30% $100.0 ● Funds business critical assets used to generate cash flows $80.0 $
Slide 21: Final dividend of 11.0 cps, fully franked
Final dividend of 11.0 cps, fully franked Dividend payout ratio based on profit type ● Dividend Policy targets a payout ratio in the range of 60 – 80% of MYS Statutory NPAT 2H pro forma ● Key factors the Board considered in determining the FY25 final Final dividend 2H Statutory 2H Underlying Underly
Slide 22: Summary
3. Summary Brett Morgan Managing Director & CEO FY25 Results Investor Presentation
Slide 23: Looking ahead – key priorities to drive value
Looking ahead – key priorities to drive value Integration priorities Business priorities • Move to a single banking license • Profitably grow the home loan book • Single loan origination system • Grow customer deposits directly and via partnerships • Commence core banking system consolidation • Scal
Slide 24: MyState's investment case
MyState’s investment case Well capitalised providing Projected double digit EPS capacity for growth growth based on full merger run rate synergies1 Consistent track record of profitability. Current Proven Board and dividend yield of 4.8% 2, management teams fully franked 1. The merger with Auswide i
Slide 25: Appendix
4. Appendix Additional FY25 information FY25 Results Investor Presentation
Slide 26: MyState is a diversified financial services group
MyState is a diversified financial services group MyState Limited (MYS) is a diversified financial services group which listed in September 2009 Banking following the merger of MyState Financial, an authorised deposit-taking institution, and TPT Wealth, a trustee and wealth management company, Lendi
Slide 27: MyState Limited regulatory group structure
MyState Limited regulatory group structure (Holding Company) ACN 133 623 962 MyState Bank Ltd ACN 067 729 195 TPT Wealth Ltd ACN 009 475 629 Level 1 APRA regulated ADI ASIC regulated entity Auswide Bank Ltd ACN 087 652 060 Level 1 APRA regulated ADI Level 2 APRA regulated Group 27
Slide 28: FY25 financials by division (with MyState Bank and Auswide Bank split)
FY25 financials by division (with MyState Bank and Auswide Bank split) The combined entity has significantly increased scale, a larger capital base, and a more diversified home loan and deposit portfolio, with improved financial resilience As at 30 June 2025 MyState Bank Auswide Bank 2 TPT Wealth Co
Slide 29: FY25 Underlying to Statutory profit reconciliation
FY25 Underlying to Statutory profit reconciliation MyState Bank Auswide Bank 2 TPT Wealth Corp. & Consol. MyState Group Underlying NPAT ($m) 1 32.7 6.1 2.5 - 41.3 Integration costs ($m) 3 (0.6) (0.6) - (0.2) (1.4) Transactions costs ($m) 3 - (0.1) - (5.3) (5.4) Purchase Price Allocation ($m) 3 - - -
Slide 30: MSB net interest margin
MSB net interest margin MSB average NIM trend ● Net interest margin stable half on half ● Key themes 1.45% 1.45% 1.45% 1.45% o home loan and deposit price competition o deposit switching to higher rate products o securitisation funding stable ● Exit NIM lower than average NIM for the second half due
Slide 31: AWB net interest margin
AWB net interest margin ● Increase in NIM of 21 bps reflects: AWB average NIM trend 1 o maturing fixed rate home loans repricing to higher 1.57% variable rates throughout the year 1.53% 1.49% o equipment finance loans originated by Selfco ● Key themes o home loan and deposit price competition 1.32%
Slide 32: Group home loan book
Group home loan book ● Growth driven by lower risk owner occupied P&I lending with LVR <80% ● Variable rate lending as a proportion of total flow remained above 90% in FY25 for both MyState Bank and Auswide Bank ● Elevated run-off remains a sector wide challenge Group home loan book composition ($b)
Slide 33: Funding mix by bank
Funding mix by bank MyState Bank funding mix (%) Auswide Bank funding mix (%) 12.7% 11.6% 14.9% 16.3% 22.0% 22.1% 18.4% 12.9% 11.8% 10.9% 8.9% 8.7% 72.8% 72.5% 75.5% 73.3% 69.1% 69.2% Jun-23 Jun-24 Jun-25 Jun-23 Jun-24 Jun-25 Customer deposits Wholesale funding Securitisation Customer deposits Whole
Slide 34: MSB prudent loan provisioning
MSB prudent loan provisioning ● Decrease in the total collective provision, despite an uptick in 90+ day arrears, due to the positive impact of a higher ‘cure rate’ over the previous Collective credit provisions ($m) 36 months i.e. effectively a lower loss given default 7.9 ● Forward looking overlay
Slide 35: AWB prudent loan provisioning
AWB prudent loan provisioning ● The increase in the total collective provision is consistent with growth in the home loan portfolio, and the inclusion of Selfco. Credit provisions ($m) ● Forward looking overlay reduced from $0.7m to $0.4m (represents 9% of total collective provision) reflecting: ✔ r
Slide 36: Forward looking economic overlay assumptions
Forward looking economic overlay assumptions ● Forward looking overlay of $2.0m (MSB: $1.6m and AWB: $0.4m) Assumptions June 26 June 27 ● At 30 June 2025, the key assumptions used to determine the Unemployment (year ended) overlay incorporate the latest observed economic data including: Base Case 4.
Slide 37: MSB Capital, stock and flow metrics
MSB Capital, stock and flow metrics Movement Stock metrics Jun-25 Dec-24 Jun-24 30-Jun-25 31-Dec-24 30-Jun-24 % (Jun - Jun ʻ24) Broker 84% 83% 83% $m $m $m $m Proprietary 16% 17% 17% Qualifying capital Owner occupied 81% 80% 79% Common equity tier 1 capital (CET1) Investor 19% 20% 21% Ordinary share
Slide 38: AWB Capital, stock and flow metrics
AWB Capital, stock and flow metrics Movement Stock metrics Jun-25 Dec-24 Jun-24 30-Jun-25 31-Dec-24 30-Jun-24 % (Jun-Jun ʻ24) Broker 76% 75% 73% $m $m $m $m Proprietary 24% 25% 27% Qualifying capital Owner occupied 76% 74% 73% Common equity tier 1 capital (CET1) Investor 24% 26% 27% Ordinary share c
Slide 39: Glossary
Glossary 1H: First half of financial year EPS: Earnings per share NPAT: Net profit after tax 2H: Second half of financial FHLDS: First home loan deposit scheme NPBT: Net profit before tax year FUM: Funds under management OCR Official Cash Rate (RBA) ADI: Authorised deposit-taking institution FY: Fin
Slide 40: Disclaimer
Disclaimer Summary information Past performance not indicative of future performance The material in this Presentation is general background information about MyState Limited Past performance information, including past share price information, should not be relied upon (ABN 26 133 623 962) and its
Slide 41: MyStateBankY — AB | GSSELECO TPT Wealth’
MyStateBankY — AB | GSSELECO TPT Wealth’ PART OF THE MYSTATE LIMITED GROUP.