Tyro Payments Ltd. · ASX:TYR
Tyro Payments — Investor Presentation (February 2026)
27 slides from Tyro Payments's investor presentation, Feb 24, 2026
Slide 1: Investor Briefing H1 FY26 Results
INVESTOR BRIEFING H1 FY26 Results 24 February 2026
Slide 2: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY We acknowledge the Traditional Owners of the land on which we meet today. We pay our respects to Elders past and present.
Slide 3: Disclaimer
DISCLAIMER This presentation is provided by Tyro Payments Limited (ABN 49 103 575 042) and its controlled entities (variously, “Tyro”, “us”, “we”, “our” and “Group”) and is current at 24 February 2026. It is information given in summary form only and does not purport to be complete. It does not cons
Slide 4: Introduction
INTRODUCTION Nigel Lee Chief Executive Officer
Slide 5: Australia's Only Large-Scale Domestic Payments Champion
AUSTRALIA’S ONLY LARGE-SCALE DOMESTIC PAYMENTS CHAMPION >76,000 >$43bn ~30% Merchants1 Annual TTV2 Banking adoption3 >45bps 33.6% 64% >$140m Gross payment margin1 EBITDA margin1 Operating efficiency1 Available cash4 1 Based on H1 FY26 performance 2 Annual TTV based on FY25 reported volumes 3 Banking
Slide 6: H1 FY26 Key Themes
H1 FY26 KEY THEMES PRODUCT TOP-LINE GROWTH INVESTING TO ENHANCEMENTS DRIVEN BY SUPERCHARGE DRIVING BETTER IMPROVEMENT IN GROWTH ACROSS CUSTOMER PAYMENT VOLUMES MULTIPLE OUTCOMES OPPORTUNITIES Banking products and With ongoing Whilst further Thriday acquisition operational discipline embedding our si
Slide 7: Acquisition of Thriday Accelerates Customer Value Proposition
ACQUISITION OF THRIDAY ACCELERATES CUSTOMER VALUE PROPOSITION FOR Payments SMES 4.9 Deeper feature set average Google review Banking & More problems solved Lending More time for owners to run their business Invoicing Accounting FOR Greater multi-product adoption Tax TYRO Increased retention Greater
Slide 8: Business Update
BUSINESS UPDATE Emma Burke Chief Financial Officer
Slide 9: Core Payment Volumes Increased 5.6%
CORE PAYMENT VOLUMES INCREASED 5.6% Gross payments margin (bps) +0.8bps Core payment volumes grew 5.6% 45.5 Improvement in 44.7 Gross margin1 • Tyro Core TTV increased 5.6% supported 41.8 by strong new business growth in FY25 and improved TTV churn TTV ($bn) 22.9 22.2 22.0 • Core TTV growth partiall
Slide 10: Launch of New Banking Products Drove 38% Increase in Users
LAUNCH OF NEW BANKING PRODUCTS DROVE 38% INCREASE IN USERS Transaction accounts1 Loan originations2 +19% +38% 12,367 10,896 88.7 8,987 74.7 70.2 Dec-24 Jun-25 Dec-25 H1 FY25 H2 FY25 H1 FY26 TBA TTA New Tyro Transaction Account Launch of new Tyro Flexi Loan already makes up >7% of all has supported g
Slide 11: Momentum in Banking, With Improved Returns
MOMENTUM IN BANKING, WITH IMPROVED RETURNS ACCOUNT BALANCES1 ($m) LOAN ORIGINATIONS2 ($m) BANKING RETURNS3 Increase in deposits and lower overall funding Increase in loan originations; higher average loan Overall net return on banking improved due cost ticket value to more profitable loans +28% 22.7
Slide 12: Continued Improvement in Operating Efficiency
CONTINUED IMPROVEMENT IN OPERATING EFFICIENCY Operating expenses as % of gross profit1 78% 72% 69% 64% YoY 3-year growth CAGR Cost discipline has been strong over 117.6 112.0 5.0% +7.3% last 3 years to enable increased 105.2 profitability 95.2 42.5 Expense capacity is supporting 34.7 29.4 initiative
Slide 13: Significantly Higher Profit and Cash Generation
SIGNIFICANTLY HIGHER PROFIT AND CASH GENERATION STATUTORY PBT EBITDA INCREASED BY 19.8% INCREASED 72.3% FCF INCREASED BY 51.8% EBITDA ($m)1 Statutory profit before tax ($m) Free Cash Flow ($m) 33.6% 60.0 34.0% 29.5% +72.3% 26.0% 29.0% 50.0 +19.8% +51.8% 24.0% 40.0 19.0% 30.0 14.0% 17.7 20.0 39.5 13.
Slide 14: Balance Sheet Provides Capacity for Growth Investment
BALANCE SHEET PROVIDES CAPACITY FOR GROWTH INVESTMENT TYRO AVAILABLE OWN FUNDS POTENTIAL USES OF AVAILABLE OWN FUNDS Additional internal investment $202m Cash and equivalents $141m Available own funds1 Inorganic growth opportunities, through: • Scale in payments • Enhancing our omnichannel propositi
Slide 15: On Track to Deliver Our FY26 Guidance
ON TRACK TO DELIVER OUR FY26 GUIDANCE FY26 GUIDANCE: $230M - $240M GROSS PROFIT On track to deliver, supported by growth in payment volumes and loan originations FY26 GUIDANCE: 28.5% - 30% EBITDA MARGIN On track to deliver, which includes planned H2 increase in investment spend Gross profit and EBIT
Slide 16: Outlook
OUTLOOK Nigel Lee Chief Executive Officer
Slide 17: Tyro Is Uniquely Positioned to Win in Australia
LARGE MARKET INTEGRATED c.$1 trillion of payments annually in Australia PLATFORM 2.7 million SMEs in Australia TYRO IS PAYMENTS BANKING VALUE-ADD SERVICES In-Store Transaction Financial Accounts Management UNIQUELY DOMESTIC CHAMPION E-Commerce Savings Lending Loyalty POSITIONED FOR AUSTRALIA’S SMES
Slide 18: We're Investing for the Next Stage of Growth
WE’RE INVESTING FOR THE NEXT STAGE OF GROWTH HEALTH BANKING eCOMM LARGER MERCHANTS Strong industry fundamentals Integrated banking improves Structural shift to online and Larger merchants drive volume with high barriers to entry customer satisfaction and omnichannel commerce and scale benefits custo
Slide 19: Nigel Lee, CEO and Emma Burke, CFO
tyro Nigel Lee Emma Burke CEO CFO
Slide 20: Appendix
APPENDIX
Slide 21: Solid Financial Position
SOLID FINANCIAL POSITION REGULATORY CAPITAL ($m) 83.9% 250 74.2% 0.9 $m 31 Dec 2025 30 June 2025 0.7 200 Common Equity Tier 1 (CET1) Capital 167.8 154.4 0.5 Comprising: 0.3 150 229.5 0.1 Share capital 280.2 280.2 186.6 100 170.4 -0.1 Retained earnings (100.2) (117.5) 156.5 -0.3 50 Other reserves 57.
Slide 22: Summary of Financial Performance
SUMMARY OF FINANCIAL PERFORMANCE H1 FY26 H1 FY25 Change $’000 $’000 % Transaction value 22,856,572 21,971,420 4.0% Revenue (normalised) 251,095 248,311 1.1% Payments direct expenses (including Bendigo Alliance gross profit share) (132,778) (135,730) 1.9% Interest expense on deposits (752) (598) (25.
Slide 23: Reconciliation of Statutory to Normalised Results
RECONCILIATION OF STATUTORY TO NORMALISED RESULTS Normalisation adjustments H1 FY26 Bendigo Alliance gross H1 FY26 $’000 unless stated otherwise Investment in associate Thriday and other Statutory profit share Normalised Total revenue 251,188 (93) 251,095 Payments direct expense (128,368) (4,409) (1
Slide 24: Financial Position
FINANCIAL POSITION $’000 unless stated otherwise 31 December 2025 30 June 2025 Assets Cash and financial investments1 202,019 286,045 Loans to merchants 52,173 49,118 Property, plant and equipment 54,303 51,291 Intangible assets and goodwill 85,674 87,981 Right-of-use assets 20,745 21,100 Other asse
Slide 25: Free Cash Flow
FREE CASH FLOW $’000 unless stated otherwise H1 FY26 H1 FY25 Change Operational cash flows EBITDA 39,539 32,996 6,544 Non-cash adjustments 1,308 (1,257) 2,565 Capital expenditure (19,559) (17,353) (2,206) Rent payments (2,951) (2,292) (659) Working capital and other movements (4,507) (3,124) (1,384)
Slide 26: Supplementary Information: Payments
SUPPLEMENTARY INFORMATION: PAYMENTS Transaction Value (TTV) Merchant Count H1 FY26 H1 FY25 Change Proportion of H1 FY26 H1 FY25 Change Performance by vertical $’million $’million % H1 FY26 TTV # # % Hospitality 9,509 9,058 5% 46% 15,437 15,955 (3.2%) Retail 5,558 5,314 4.6% 27% 12,620 10,586 19.2% H
Slide 27: Thank You
tyro THANK YOU
Tyro Payments — Investor Presentation (February 2026) on 6ix