Slide 1: FY25 Results
AAA, FY 25 Results 29 August 2025 >< PEXA
Slide 2: Important notices and disclaimer
Important notices and disclaimer This presentation and accompanying information (Presentation) has Forward statements You should note that Market Data is inherently predictive, is subject to been prepared for the purpose of providing general background No representation or warranty, expressed or imp
Slide 3: Aboriginal and Torres Strait Islander acknowledgement
The PEXA Group acknowledges Aboriginal and Torres Strait Islander people as the traditional custodians of the lands on which we work, live and dream, we pay our respects to elders past and present. We recognise that we have a role to play in creating space and place for Aboriginal and Torres Strait
Slide 4: Agenda
Agenda 01 Russell Cohen FY25 Overview CEO & Group Managing Director 02 Liz Warrell Financial results Interim CFO 03 Russell Cohen Strategy update CEO & Group Managing Director & Outlook 04 Appendix 3
Slide 5: Why PEXA?
Why PEXA? Unlocking the future of property transactions with a market-leading platform World-first essential digital platform Nation-wide reach with over 90% market coverage Unique IP backed by knowledgeable workforce Consistently improving cash flows Strong balance sheet Attractive growth opportuni
Slide 6: FY25 Group financial snapshot
FY25 Group financial snapshot1 Group Revenue Group EBITDA2 NPATA2 Statutory NPAT $393.6m +16% ↑ $134.4m +21% ↑ $41.1m (6%) ↓ ($76.1m) (58.1m) ↓ FY24: $340.1m FY24: $111.5m FY24: $43.8m FY24: $(18.0m) Group EBITDA margin2,3 Free cashflow EPS5 Net Debt/EBITDA2,4 34.1% +1.3ppt ↑ $56.0m +45% ↑ (43.0cps)
Slide 7: Australian Exchange
Australian Exchange Revenue growth exceeding cost growth, driven by national rollout, cost efficiencies and scale benefits Exchange ($m) FY25 313.8 FY25 Highlights Revenue ↑ 7.5% FY24 292.0 • Operating leverage driving EBITDA growth • Progression of national rollout with enablement of Tasmania and s
Slide 8: International
International Product build is complete and improved operating performance during FY25; Top tier lender commitment in July 2025 International ($m) FY25 60.7 FY25 Highlights Revenue ↑ 15.4% FY24PF 1 52.6 • FCA Approval granted to become FY24 32.4 Authorised Payment Institution in UK • S&P platform bu
Slide 9: Digital Solutions
Digital Solutions Strategic Review announced to assess fit and profitable growth opportunities Digital Solutions ($m) FY25 Highlights FY25 19.1 • Improving revenue, EBITDA and operating cashflow Revenue ↑ 21.7% as businesses scale FY24 15.7 • Revenue growth driven primarily by Insights businesses .i
Slide 10: Financial results
02 Financial results Liz Warrell Interim CFO 9 9
Slide 11: Core financial operating results
Core financial operating results Strong revenue growth outstripping cost growth Pro-forma Group Revenue ($m) A$m FY25 FY25 FY24 Var (%) PF Var2 (%) Var % Revenue FY25 393.6 Exchange 313.8 292.0 7.5 7.5 FY24 340.1 International 60.7 32.4 87.3 15.4 Digital Solutions 19.1 15.7 21.7 21.8 FY23 281.7 Grou
Slide 12: FY25 Reconciliation to Statutory Results
FY25 Reconciliation to Statutory Results NPAT impacted by previously announced non-operating items Significant A$m Core Statutory Statutory items Group Revenue 393.6 393.6 Significant items $78.2m: Cost of Sales (66.7) (66.7) Impairments: $48.5m Gross Margin 326.9 326.9 • Interoperability intangible
Slide 13: Exchange revenue and volume
Exchange revenue and volume Revenue growth driven by expanding national footprint and annual pricing review Revenue bridge ($m) PEXA transactions (‘000) 10.8 0.8 313.8 1,966 2,038 1,846 1,908 4.1 272 260 255 6.1 257 485 439 382 445 Other 292.0 1,327 Refinance 1,221 1,207 1,208 Transfer FY24 Market P
Slide 14: International revenue and volume
International revenue and volume International revenue benefit from Sale & Purchase market rebound Revenue bridge ($m) S&P and Remortgage volumes for Optima and Smoove (‘000) 1.1 1.6 60.7 5.4 20.2 52.6 37.5 35.4 32.4 30.5 31.5 7.9 7.7 9.5 8.9 1H24 2H24 1H25 2H25 FY24 Pre- FY24 Sale & Remo Other FY25
Slide 15: Group cost and margin
Group cost and margin Ongoing focused productivity drive continues to deliver cost savings Operating expense bridge ($m) Group and Exchange EBITDA1 margin (%) 4.7 56.3 55.4 53.5 53.6 5.0 4.7 192.5 10.2 188.5 (10.4) FY25: 55.0% FY24: 54.5% 178.3 35.5 32.7 30.1 30.4 FY25: 34.1% FY24 PF2: 30.3% 1H24PF
Slide 16: Capex, Depreciation & Amortisation
Capex, Depreciation & Amortisation More than 50% of our capex each year is spent on the Exchange Capex ($m) Depreciation & Amortisation ($m) Group Capex 103.4 90.4 68.8 47.7 34.6 58.0 26.2 55.8 55.7 19.9 4.9 FY24 FY25 6.5 4.3 8.4 Historical acquired amortisation Depreciation and amortisation 13.4 Ex
Slide 17: Cash utility
Cash utility Surplus capital in FY25 allowed us to pay down debt and return capital to shareholders Cash balance bridge ($m): 30 June 2024 vs 30 June 2025 122.2 (7.5) (57.8) (5.3) 90.5 (53.1) 0.6 70.7 (18.9) June 2024 Adjusted EBITDA Net working capital Capex Investments Net debt & leases Buy-back O
Slide 18: Free cash flow generation
Free cash flow generation Reduced interest in line with lower gearing Free cash flow Net debt / EBITDA before associates 2.7x FCF conversion: 2.5x 45.8% 122.2 1.8x (7.5) FY25 ($m) 56.0 (57.8) (0.9) FY23 FY24 FY25 Adjusted EBITDA Net working Capex Net financing Free cash flow capital and tax Times In
Slide 19: Strategy update & outlook
03 Strategy update & outlook Russell Cohen CEO & Group Managing Director 18 18
Slide 20: FY26 Strategy
FY26 Strategy Drive outstanding shareholder value through consistently excellent customer and employee experiences
Slide 21: FY26 focus areas
FY26 focus areas Resilience and Execution Focused on execution • Protect through investment in resilience Drive profitable growth and expansion • Fortify through cyber security enhancements through: • Modernise using modular platform build in UK • AI adoption • Regulatory engagement including IPART
Slide 22: UK Progress
UK Progress NatWest commitment received, implementation under way NatWest Tier 2 Lenders Tier 3 Lenders Dec 24 Jul 252 Key Stages Key Stages Introduction Introduction 1 9 14 Requested Discovery Discovery 5 3 11 2 Progressing Scope Scope 2 4 Complete BoE Testing BoE Testing 3 3 7 Not Started Commitme
Slide 23: Economic outlook
Economic outlook Economy and housing markets are improving as inflation and rates normalise Real GDP growth (%, yoy) Central bank rate (%, average of year) Real dwelling investment growth (%, yoy) 2.10 2.00 4.3 4.10 1.70 3.4 2.50 2.20 2.9 3.1 2.30 1.30 Australia1 CY24a CY25f CY26f CY27f CY24a CY25f
Slide 24: Core Financial Operating Guidance
Core Financial Operating Guidance FY26 Guidance streamlined as PEXA drives toward profitable growth Metric FY25 Outcome FY26 Guidance Group Revenue $393.6m $405m to $430m Group EBITDA margin1 34.1% 32% - 35% Group Core NPAT1 $2.1m $5m to $15m Group Capex ($58.0m) ($60m) to ($65m) International opera
Slide 25: Appendix
Appendix Financials disclosed in this section is on an as reported basis
Slide 26: PEXA’s Australian Regulatory Landscape
PEXA’s Australian Regulatory Landscape A multi-tiered regulatory framework governs our eConveyancing operations Critical Infrastructure ARNECC Regulatory Layer Model Operating Model Participation (Home Affairs) Requirements (MOR) (National e-Conveyancing Rules (MPR) Regulator) RBA Australian Payment
Slide 27: FY25 Reconciliation to Statutory Results
FY25 Reconciliation to Statutory Results FY25 reconciliation Optima Share of Significant FY251 $m Core Statutory interest loss in items income Associates Group revenue 393.6 393.6 2.3 395.9 Cost of sales (66.7) (66.7) (66.7) Gross margin 326.9 326.9 2.3 329.2 Core operating expenses (192.5) (192.5)
Slide 28: 1H25 Reconciliation to Statutory Results
1H25 Reconciliation to Statutory Results 1H25 reconciliation Optima Share of Significant 1H25 $m Core Statutory interest loss in items income Associates Group revenue 202.5 202.5 1.2 203.7 Cost of sales (34.4) (34.4) (34.4) Gross margin 168.1 168.1 1.2 169.3 Core operating expenses (96.1) (96.1) (96
Slide 29: FY24 Reconciliation to Statutory Results
FY24 Reconciliation to Statutory Results FY24 reconciliation Optima Share of Significant FY24 $m Core Statutory interest loss in items reported income Associates Group revenue 340.1 340.1 3.4 343.5 Cost of sales (50.3) (50.3) (50.3) Gross margin 289.8 289.8 3.4 293.2 Core operating expenses (178.3)
Slide 30: Significant Items Reconciliation
Significant Items Reconciliation 12 Months ended 30 June 2025 30 June 2025 Redundancy One-off Total 30 June 2025 Integration M&A Statutory and Impairments Other items Derecognition Significant Excl Significant costs expenses P&L restructuring of DTA Items items For the full year ended 30 June 2025 $
Slide 31: Significant Items Reconciliation
Significant Items Reconciliation 12 Months ended 30 June 2024 30 June 2024 30 June 2024 Redundancy Total Integration M&A Excl Statutory and Impairments Other items Significant costs expenses Significant P&L restructuring Items items For the full year ended 30 June 2024 $’000 $’000 $’000 $’000 $’000
Slide 32: Exchange: Detailed financials
Exchange Detailed financials Exchange financial performance A$m 1H25 2H25 FY25 FY24 FY var. % Revenue 162.6 151.2 313.8 292.0 7.5 Cost of Sales (18.7) (18.1) (36.8) (34.9) (5.4) Gross margin 143.9 133.1 277.0 257.1 7.7 Operating expenses (52.4) (52.1) (104.5) (98.0) (6.6) EBITDA before associates 91
Slide 33: Exchange: Volume and market data summary
Exchange Volume and market data summary Exchange volume and market data: FY25 vs FY24 1H25 2H25 FY25 FY24 FY var. FY var. % Transfer 128.2 116.9 245.1 226.9 18.2 8.0 Refinance 24.1 24.4 48.5 45.9 2.6 5.7 Other 9.2 8.5 17.7 16.9 0.8 4.7 Non-ELN fee revenue 1.1 1.4 2.5 2.3 0.2 8.7 Exchange revenue ($m
Slide 34: International: Detailed financial information
International Detailed financial information International financial performance1 FYPF var.1 FY var. A$m 1H25 2H25 FY25 FY24 FY24PF % ex FX % 2 Revenue 30.9 29.8 60.7 32.4 52.6 15.4 11.1 Cost of Sales (15.0) (13.5) (28.5) (13.9) (26.4) (8.0) (4.0) Gross margin 15.9 16.3 32.2 18.5 26.2 23.0 18.3 Oper
Slide 35: International: Volume and market data summary
International Volume and market data summary International volume and market data: FY25 vs FY24PF FYPF var. FY var. $m 1H25 2H25 FY25 FY24PF FYPF var % ex FX % Smoove S&P Revenue 6.4 6.5 12.9 10.5 2.4 22.9 17.9 Smoove Remo Revenue 4.5 4.2 8.7 9.3 (0.6) (6.5) (10.0) Optima Remo Revenue 6.2 6.3 12.5 1
Slide 36: Digital Solutions: Detailed financial information
Digital Solutions Detailed financial information Digital Solutions financial performance $m 1H25 2H25 FY25 FY24 FY var. % Revenue 9.0 10.1 19.1 15.7 21.7 Cost of Sales (0.7) (0.7) (1.4) (1.5) 6.7 Gross margin 8.3 9.4 17.7 14.2 24.6 Operating expenses (8.2) (9.8) (18.0) (21.2) 15.1 EBITDA before asso
Slide 37: Digital Solutions: Revenue bridge and composition
Digital Solutions Revenue bridge and composition Digital Solutions revenue bridge ($m) Digital Solutions revenue composition ($m) 85% of FY25 Digital Sol. 19.1 revenue is 1.4 .id subscription FY24: FY25 from 0.8 0.1 annual churn c7.0% c4.7% Subscriptions 15.7 1.1 rate 10.1 9.0 0.1 8.4 0.1 1.7 7.2 0.
Slide 38: Glossary
Glossary
Slide 39: Glossary
Glossary Term Term Type Type Definition Definition API Business Application programme interface ARNECC Business Australian Registrars’ National Electronic Conveyancing Council Capital expenditure (Capex) Financial – non-IFRS Expenditures recorded during the period as an addition to an intangible ass
Slide 40: Glossary
Glossary Term Term Type Type Definition Definition Operating cashflow yield Financial – non-IFRS Operating cashflow divided by Revenue Operating EBITDA Financial – non-IFRS EBITDA excluding the effects of significant items Operating EBITDA margin Financial – non-IFRS Operating EBITDA divided by Reve
Slide 41: Investor Relations Media
Investor Relations Media Lisa Newns-Smith James Aanensen + 61 405 670 981 + 61 410 518 590 investors@pexa.com.au corporateaffairs@pexa.com.au