Ifast Corporation Ltd · SGX:AIY
Ifast — 3Q2025 & 9M2025 Earnings Presentation
67 slides from Ifast's earnings presentation, Oct 24, 2025
Slide 1: 3Q2025 & 9M2025 Results Presentation
iFAST Corporation Ltd. 3Q2025 & 9M2025 Results Presentation 24 Oct 2025 1
Slide 2: Disclaimer
Disclaimer This presentation should be read as an overview of iFAST Corporation Ltd.’s (“iFAST Corp” or the “Company”, and together with its subsidiaries, the “Group”) current business activities and operating environment. This presentation should not be solely relied upon by current and potential i
Slide 3: Contents
Contents ▪ Key Summary Pg. 4 ▪ AUA Updates ▪ 3Q2025 (Jul-Sep 2025) & 9M2025 (Jan-Sep 2025) Financial Results Pg. 8 Section I Financial Results ▪ Performance by Geographical and Business Segments ▪ Third Interim Dividend ▪ 3Q2025 Key Achievements Pg. 20 Section II Business Update ▪ iFAST Fintech Ecos
Slide 4: Key Summary
Key Summary • In 3Q2025, the Group’s net profit increased by 54.7% YoY to S$26.01 million, supported by a 37.0% YoY increase in the Group’s gross revenue to S$135.82 million. The increase in 3Q2025 profitability was driven by growth in the Hong Kong ePension business, continuing growth in the Group’
Slide 5: Key Summary
Key Summary • The Group’s vision is to build a seamlessly connected global digital banking and wealth management ecosystem that enables customers around the world to invest their wealth globally and profitably, save effortlessly, and spend conveniently through one integrated platform. • With stronge
Slide 6: Group AUA increased 29.6% YoY to S$30.62 billion
S$ million $10,000 $14,000 $16,000 $18,000 $20,000 $24,000 $26,000 $28,000 $30,000 $32,000 $- $2,000 $4,000 $6,000 $8,000 $12,000 $22,000 Mar-01 Sep-01 Mar-02 Sep-02 Mar-03 Sep-03 Mar-04 Sep-04 Mar-05 Sep-05 Mar-06 Sep-06 Mar-07 Sep-07 Mar-08 Sep-08 Mar-09 as at 30 September 2025 Sep-09 Mar-10 Sep-1
Slide 7: AUA Breakdown: Markets & Products
AUA Breakdown: Markets & Products (as at 30 Sep 2025) AUA Breakdown by Markets AUA Breakdown By Products 7.1% 9.0% 10.9% 23.4% 11.3% 55.8% 70.7% 11.8% Unit Trusts Bonds Singapore Hong Kong Malaysia Others (China & UK) Stocks & ETFs Cash Account & Deposits 7
Slide 8: Financial Results
Section I Financial Results 8
Slide 9: Financial Results for Group (3Q2025 vs 3Q2024)
Financial Results for Group (3Q2025 vs 3Q2024) S$ (Million) 3Q2024 3Q2025 YoY change (%) Total revenue 99.14 135.82 +37.0 Total net revenue 63.99 89.53 +39.9 Other income 0.70 0.60 -14.7 Operating expenses 43.20 58.23 +34.8 Interest expenses on lease liabilities 0.39 0.43 +10.8 Share of results of a
Slide 10: Financial Results for Group (9M2025 vs 9M2024)
Financial Results for Group (9M2025 vs 9M2024) S$ (Million) 9M2024 9M2025 YoY change (%) Total revenue 278.85 362.98 +30.2 Total net revenue 183.48 237.30 +29.3 Other income 1.35 1.87 +37.3 Operating expenses 124.74 156.01 +25.1 Interest expenses on lease liabilities 1.03 1.30 +26.2 Share of results
Slide 11: Results Overview for Group
Results Overview for Group S$ (Million) FY2021 FY2022 FY2023 FY2024 9M2025 Total revenue1 216.90 208.87 256.54 382.99 362.98 Total net revenue1 113.91 118.24 161.66 248.38 237.30 Other income 0.49 1.72 1.71 1.86 1.87 Operating expenses 77.68 103.84 126.23 165.64 156.01 Interest expenses on lease lia
Slide 12: PBT Margin for Group
PBT Margin for Group (Based on Total Net Revenue) 40.0% 34.5% 35.0% 33.5% 31.6% 30.0% 25.0% 22.6% 20.0% 1 15.0% 13.5% 10.0% 5.0% 0.0% 2021 2022 2023 2024 9M2025 Note: 1. Including UK banking operation from 2022 and excluding impairment loss of S$5.2 million related to India Business recognised in 20
Slide 13: Return on Equity
Return on Equity Record High Annualised ROE Since Listing 30.0% 25.8% 26.1% 25.0% 23.4% 20.0% 15.0% 12.2% 10.0% 1 5.0% 5.0% 0.0% 2 2021 2022 2023 2024 9M2025 Notes: 1. Excluding impairment loss of S$5.2 million related to India Business recognised in 2Q2022. 2. The Group conducted a S$103 million sh
Slide 14: Profit/Loss - Geographical Segment
Profit/Loss - Geographical Segment Profit/Loss YoY Change YoY Change 3Q2024 3Q2025 9M2024 9M2025 (S$ Million) (%) (%) Singapore 8.88 11.17 +25.7 26.02 30.50 +17.2 Hong Kong 13.25 19.39 +46.4 39.81 47.44 +19.1 Malaysia 1.26 1.56 +23.4 3.28 4.77 +45.3 China (1.38) (0.92) -33.1 (4.76) (2.77) -41.9 Othe
Slide 15: Profit/Loss - Geographical Segment
Profit/Loss - Geographical Segment Profit/Loss FY2021 FY2022 FY2023 FY2024 9M2025 (S$ Million) Singapore 28.43 16.57 25.20 36.14 30.50 Hong Kong 8.39 8.07 23.82 52.96 47.44 Malaysia 5.39 4.25 4.39 4.96 4.77 China (5.82) (7.12) (7.19) (5.85) (2.77) Other1 (0.35) 0.30 0.22 (0.02) 0.00 Non-banking oper
Slide 16: Total Gross Revenue - Geographical Segment
Total Gross Revenue - Geographical Segment S$ (Million) FY2021 FY2022 FY2023 FY2024 9M2025 Singapore 139.59 130.25 140.61 167.04 141.52 Hong Kong 48.80 42.64 69.60 135.31 134.70 Malaysia 24.85 23.03 23.51 26.92 22.73 China 3.66 2.62 2.24 1.71 1.49 UK - 10.33 20.58 52.01 62.54 Group 216.90 208.87 256
Slide 17: Total Net Revenue - Geographical Segment
Total Net Revenue - Geographical Segment S$ (Million) FY2021 FY2022 FY2023 FY2024 9M2025 Singapore 73.50 70.49 81.24 96.06 79.64 Hong Kong 24.43 24.15 52.58 112.97 115.55 Malaysia 13.43 13.64 13.98 15.53 12.93 China 2.55 1.77 1.51 1.24 1.08 UK - 8.19 12.35 22.58 28.10 Group 113.91 118.24 161.66 248.
Slide 18: Third Interim Dividend for FY2025
Third Interim Dividend for FY2025 Dividend Schedule Dividend per share 2.30 cents per ordinary share Ex-dividend date 5 November 2025 Record date and time 6 November 2025 (5.00 pm) Payment date 19 November 2025 • As per Dividend Schedule above, the Directors declared a dividend of 2.30 cents per ord
Slide 19: Dividend for 3Q2025: 2.30 Cents per Ordinary Share
Dividend for 3Q2025: 2.30 Cents per Ordinary Share S$ cent per ordinary share 9.00 8.20 8.00 7.00 5.90 5.90 6.00 5.00 4.80 4.80 4.80 1.60 2.30 4.00 1.40 1.40 1.40 1.50 3.00 1.30 1.30 1.30 2.00 2.00 1.50 1.10 1.10 1.10 1.00 1.00 1.00 1.00 1.30 1.60 0.00 FY2021 FY2022 FY2023 FY2024 FY2025 • The total
Slide 20: Business Update
Section II Business Update 20
Slide 21: 3Q2025 Achievements
3Q2025 Achievements Record High in AUA and Net Inflows • The Group’s AUA reached a record high of S$30.62 billion as at 30 September 2025. Group AUA grew 29.6% YoY and 12.6% QoQ. • All wealth management markets in Singapore, Hong Kong, Malaysia and China achieved record AUA levels. AUA in Singapore,
Slide 22: Net Inflows Trend
Net Inflows Trend S$ million 4,000 $3,745 $3,717 3,500 $3,296 $3,160 3,000 2,500 $2,291 $2,104 $1,957 2,000 1,500 $942 $976 1,000 $786 $458 $501 500 $396 $193 $235 $55 0 Note: • Net inflows stood at S$0.94 billion, S$1.29 billion and S$1.49 billion in 1Q2025, 2Q2025 and 3Q2025 respectively. 22
Slide 23: Gross Unit Trust (UT) Subscription
Gross Unit Trust (UT) Subscription S$ million 10,000 9,000 8,000 $7,834 $7,433 $7,052 7,000 6,000 $5,647 $5,223 $5,312 5,000 $4,490 4,000 $2,908 $3,053 $2,870 3,000 2,000 $1,670 $1,574 $1,365 $1,547 $947 $940 1,000 0 Note: • Gross UT Subscriptions stood at S$2.27 billion, S$2.32 billion and S$3.25 b
Slide 24: iFAST Fintech Ecosystem
iFAST Fintech Ecosystem Connecting All to Help Investors Invest Globally and Profitably 1,025,000+ 820+ 14,200+ 5 24 Information accurate as of 30 September 2025
Slide 25: iFAST Fintech Ecosystem
iFAST Fintech Ecosystem Deepening the Ecosystem for Global Connectivity Our Foundation & Mission – Helping Investors Invest Globally & Profitably • iFAST was founded with a clear mission to help investors around the world invest globally and profitably, providing seamless access to a wide range of i
Slide 26: iFAST Fintech Ecosystem
iFAST Fintech Ecosystem Strengthening the Ecosystem with Payment Capabilities • Payment integration enhances the Group’s ability to connect its Banking and Wealth Management pillars into one seamless ecosystem. Customers can now save, invest, spend, and transfer globally with greater convenience and
Slide 27: iFAST Payment Capabilities
iFAST Payment Capabilities Payment Services & Licences • Faster Payments Service in UK: iFAST Global Bank is one of 47 participants providing real-time payments. • CHAPS in UK: The bank is one of more than 35 direct participants to offer high-value payments, which also enable iFAST business partners
Slide 28: 9M2025 Updates: Hong Kong Business
9M2025 Updates Hong Kong Business (Presented in HKD) 2023 2024 2025 9M2025 2026 Actual Actual Target Actual Target (Updated in Apr 2025) Gross Revenue HK$406 million HK$866 million >HK$1.2 billion HK$801 million Net Revenue HK$306 million HK$656 million >HK$1.0 billion HK$687 million Double-digit Yo
Slide 29: 9M2025 Updates: iFAST Global Bank
9M2025 Updates iFAST Global Bank • The Bank’s gross revenue increased 57.8% YoY to S$21.90 million in 3Q2025. For 9M2025, gross revenue rose 79.8% YoY to S$62.54 million, compared to S$34.79 million in 9M2024. • Following its first profitable quarter in 4Q2024, iFAST Global Bank continued its profit
Slide 30: iFAST Global Bank – Consecutive Profitability since 4Q2024
9M2025 Updates iFAST Global Bank – Consecutive Profitability since 4Q2024 S$ million 2022 2023 2024 9M2024 9M2025 4.00 2.01 2.00 0.00 -2.00 -4.00 -4.36 -4.66 -6.00 -5.04 -8.00 -8.61 -10.00 30
Slide 31: Performance Trends
Section III Performance Trends 31
Slide 32: Financial Indicators
Financial Indicators S$ (Million) FY2021 FY2022 FY2023 FY2024 9M2025 EBITDA2 54.79 37.641 70.50 119.77 109.14 Operating Cashflows 46.53 47.40 273.45 671.28 562.93 Capital Expenditure 21.62 17.87 21.63 26.13 22.22 Net Current Assets 68.03 108.45 110.66 170.31 107.98 Shareholders’ Equity 128.65 222.49
Slide 33: Cash Plus Liquid Assets Net of Borrowings Position
Cash Plus Liquid Assets Net of Borrowings Position As at 31 Dec 2024 As at 30 Sep 2025 (S$ million) (S$ million) Cash and Cash Equivalents 622.83 772.43 Sovereign Bonds & Investment-grade Corporate Bonds 502.70 896.13 Others 116.07 148.28 Less: Customers’ Deposits (1,013.34) (1,552.57) Total Cash pl
Slide 34: Group Operating Cashflows
Group Operating Cashflows S$ million $800 $700 671.28 $600 562.93 $500 $400 $300 273.45 $200 $100 46.53 47.40 $0 2021 2022 2023 2024 9M2025 34
Slide 35: Capital Expenditure
Capital Expenditure S$ million $30 27.20 26.13 $25 21.62 21.63 $20 17.87 $15 $10 $5 $0 2021 2022 2023 2024 2025F Note: 1. Capital Expenditure for 9M2025 stood at S$22.22 million. 35
Slide 36: Number of Issued Shares
Number of Issued Shares As at 31 Dec 2024 As at 30 Sep 2025 Total number of issued shares (excluding treasury shares and subsidiary 297,959,099 303,684,519 holdings) 36
Slide 37: Our Consolidated Financial Position
Our Consolidated Financial Position As at 31 Dec 24 As at 30 Sep 25 S$’000 S$’000 ASSETS Plant and Equipment 14,362 18,046 Right-of-use Assets 35,580 32,250 Intangible Assets and Goodwill 85,021 89,343 Associates 414 414 Other Investments 119,073 288,456 Deferred Tax Assets 2,117 1,836 Contract Cost
Slide 38: Our Consolidated Financial Position
Our Consolidated Financial Position As at 31 Dec 24 As at 30 Sep 25 S$’000 S$’000 EQUITY Share Capital 171,435 171,943 Reserves 145,351 197,672 EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY 316,786 369,615 Non-Controlling Interests (1,808) (108) TOTAL EQUITY 314,978 369,507 LIABILITIES Debt Issued 99
Slide 39: Held under Trust
Held under Trust As at 31 Dec 24 As at 30 Sep 25 S$’000 S$’000 HELD UNDER TRUST Client monies maintained in bank deposit accounts with related 27,264 60,191 bank Client monies maintained in bank deposit accounts with non-related 1,016,318 1,332,352 banks Client monies maintained in government debt s
Slide 40: Total Net Revenue Breakdown between Recurring and Non-recurring Sources
Total Net Revenue1 Breakdown between Recurring and Non-recurring Sources S$ million Average contribution from recurring net revenue as opposed to 300 non-recurring net revenue in the period from 2024 to 9M2025 was 84.9% 250 37.4 35.8 200 150 29.7 100 34.4 211.0 201.5 34.5 25.5 131.9 8.5 11.3 12.3 50
Slide 41: Recurring and Non-recurring Total Net Revenue
Recurring and Non-recurring Total Net Revenue (Include Banking Operation) S$ (Million) FY2021 FY20221 FY20231 FY20241 9M20251 Recurring net revenue2 79.38 83.86 131.94 210.98 201.47 Non-recurring net revenue 34.53 34.38 29.72 37.40 35.83 Total net revenue2 113.91 118.24 161.66 248.38 237.30 YoY Chan
Slide 42: Recurring and Non-recurring Total Net Revenue
Recurring and Non-recurring Total Net Revenue (Exclude Banking Operation) S$ (Million) FY2021 FY20221 FY20231 FY20241 9M20251 Recurring net revenue2 79.38 83.61 129.19 201.86 187.87 Non-recurring net revenue 34.53 26.44 20.12 23.93 21.33 Total net revenue2 113.91 110.05 149.31 225.79 209.20 YoY Chan
Slide 43: Net Revenue - B2B Business Segment
Net Revenue1 - B2B Business Segment B2B Net Revenue FY2021 FY2022 FY2023 FY2024 9M2025 (S$ Million) Recurring net revenue 55.73 58.05 99.10 172.50 166.87 Non-recurring net revenue 16.42 16.66 12.89 13.09 12.03 Total B2B net revenue 72.15 74.72 111.99 185.59 178.90 YoY Change (%) FY2021 FY2022 FY2023
Slide 44: Net Revenue - B2C Business Segment
Net Revenue1 - B2C Business Segment B2C Net Revenue FY2021 FY2022 FY2023 FY2024 9M2025 (S$ Million) Recurring net revenue 22.96 22.99 25.64 25.85 20.23 Non-recurring net revenue 18.11 9.78 7.23 10.84 9.29 Total B2C net revenue 41.07 32.77 32.87 36.69 29.52 YoY Change (%) FY2021 FY2022 FY2023 FY2024
Slide 45: Fixed Income Turnover
Fixed Income Turnover S$ million 1,200.00 1,000.00 800.00 600.00 400.00 200.00 - 45
Slide 46: Progress of Individual Markets
Progress of Individual Markets SINGAPORE HONG KONG • AUA: Increased 12.7% QoQ • AUA: Increased 13.8% QoQ and 28.7% YoY to S$21.65 and 25.0% YoY, reaching billion as at 30 September S$3.45 billion as at 30 2025, reaching an all-time high. September 2025, achieving a new record high. • Net revenue: In
Slide 47: Progress of Individual Markets
Progress of Individual Markets MALAYSIA CHINA • AUA: Increased 11.3% QoQ • AUA: Increased 24.1% QoQ and 17.5% YoY to S$3.35 billion and 61.7% YoY to S$ $613.81 as at 30 September 2025, million as at 30 September achieving a new record high. 2025, achieving a new record high. • Net revenue: Increased
Slide 48: Progress of Individual Markets
Progress of Individual Markets UK – iFAST Global Bank • AUA: Increased by 7.1% QoQ and 92.7% YoY to S$1.55 billion, achieving a new record high. • Net revenue: Increased by 54.1% YoY to S$9.31 million in 3Q2025. For 9M2025, net revenue grew 89.1% YoY to S$28.10 million. • Profit: Achieved a net prof
Slide 49: Appendices
) ® 2 oO c ® Q. Q. <x Section IV
Slide 50: Business Overview
Business Overview • iFAST Corporation Ltd. is a global digital banking and wealth management platform with assets under administration (AUA) of S$30.62 billion as at 30 September 2025 (stock code: AIY). • Main business divisions: • Wealth Management: • Business-to-Consumer (B2C): FSMOne.com (formerl
Slide 51: iFAST’s Three-Year Plan (2025-2027)
iFAST’s Three-Year Plan (2025-2027) 1. Building on our S$25.01 billion Group AUA at the end of 2024, continue to increase the scale and quality of our wealth management platform. The scalability of our platform will be further strengthened with a profitable global digital bank at the core of our fin
Slide 52: iFAST Global Bank Updates
iFAST Global Bank Updates Conservative Balance Sheet Strategy • The customer deposit amounts for iFAST Global Bank (iGB) increased 7.1% QoQ and 92.7% YoY to S$1.55 billion as at 30 September 2025. • The increase in deposits continues to be driven by the deposit offering business units and most signi
Slide 53: iFAST Global Bank Updates
iFAST Global Bank Updates Regulatory Ratios The Group has started to disclose the regulatory ratios for iFAST Global Bank since 1Q2023, including the Liquidity Coverage Ratio (“LCR”), Net Stable Funding Ratio (“NSFR”) and Total Capital Ratio. iFAST Global Bank intends to maintain capital and liquidi
Slide 54: Milestones
Milestones BUSINESS ROADMAP 2000 2002 2007 2008 2011 • Launch of • Launch of iFAST • Launch of • Launch of iFAST Platform • Launch of “FSM Mobile” Fundsupermart.com Platform Services Fundsupermart.com Services (B2B) in HK iPhone application. The (B2C) in Singapore (B2B) in SG (B2C) in Hong Kong • La
Slide 55: Milestones
Milestones 2018 2019 2020 2021 • Launch of US stockbroking • iFAST MY launched retail • Launch of revamped • Launch of Bursa stockbroking in MY and SG in HK bonds under the new FSMOne mobile apps in • iFAST HK approved as China Connect • Launch of FSMOne in MY Seasoning Framework SG, HK and MY Excha
Slide 56: FY2024 Breakdown of Net Revenue
FY2024 Breakdown of Net Revenue For Wealth Management Platform Services1 FX Margin, 6.1% Transaction Fees/Commission Income Fintech Solutions IT fees, 1.6% (Other products), 1.2% Others, 0.5% Transaction Fees/Commission Income (listed securities), 9.0% Trailer Fee, 39.8% Transaction Fees/Commission
Slide 57: Fees Illustration
Fees Illustration (For Wealth Management Platform Services) FUND HOUSES TRAILER FEE PLATFORM FEE PLATFORM FEE B2B UPFRONT FEE B2C CUSTOMERS UPFRONT FEE CUSTOMERS WRAP FEE FX CONVERSION FEES B2B FINANCIAL OTHER FINTECH SOLUTIONS ADVISORY COMPANIES SERVICE FEES FACILITIES 57
Slide 58: Licences Held and Products & Services Available
Licences Held and Products & Services Available (as at 30 Sep 2025) SINGAPORE Hong Kong Malaysia Licences and Registration Held: Licences and Registration Held: Licences and Registration Held: • Capital Markets Services Licence [MAS] • Type 1 - Dealing in Securities [SFC] • Capital Market Services L
Slide 59: Our Value Proposition
Our Value Proposition PRODUCT B2B CUSTOMERS B2C DIY INVESTORS GLOBAL BANK ePENSION PROVIDERS CUSTOMERS CUSTOMERS • One platform, multiple • One platform, multiple • One platform, multiple • Online account opening • Empower partners with B2C and B2B investment products investment products without geo
Slide 60: iFAST Corp’s Risk Journey
iFAST Corp’s Risk Journey 2000-2024 and Beyond iFAST Corp has built upon the following three key elements while braving through multiple economic events over the last 24 years, tiding through the 2001 Dotcom bubble burst, the 2008 Global Financial Crisis and the recent Covid pandemic. This has paved
Slide 61: iFAST Corp’s Risk Journey
iFAST Corp’s Risk Journey 2000-2024 and Beyond • Using the analogy of Kart Racing, braking (risk At iFAST, we aim to go far and wide: management) is essential to help the kart accelerate • Thus, we see good risk management as an essential partner as (business strategies) safely through a turn at top
Slide 62: Laying the Foundation for AI-Powered Organisation
Laying the Foundation for AI-Powered Organisation • We believe that Artificial Intelligence (AI) will transform financial services in a major way in the future. With that in mind, iFAST has set up an AI-Innovation Centre within our Singapore and Malaysia offices since end of 2023. • Our AI team buil
Slide 63: Laying the Foundation for AI-Powered Organisation
Laying the Foundation for AI-Powered Organisation Our AI investments are strategic and encompass various facets of AI, focusing on enhancing efficiency and improving customer experience. Dedicated AI Innovation Cutting-edge AI Advanced AI Comprehensive Data Centre & Team Technologies Infrastructure
Slide 64: Building An Intelligent Truly Global Bank
Building An Intelligent Truly Global Bank The Future of iFAST AI Strategy iFAST Global Bank Advanced Document Breaking Down Barriers Advanced Language Elevate Customer Processing & Data Translation Capabilities Service Continuing to use AI to bridge language and cultural gaps, Extraction positioning
Slide 65: 2025: Awards & Milestones
2025: Awards & Milestones February iFAST Global Bank received the “App-Only Savings Provider of the Year – Highly Commended” and “Best Customer Service – Commended” awards at the Moneyfactscompare.co.uk Awards 2025. March iFAST Global Bank has been awarded “Best Newcomer” at the British Bank Awards
Slide 66: 3Q2025: Activities & Achievements
3Q2025: Activities & Achievements B2B Client Events: Top (L-R) - iFAST Singapore, Adviser Xchange 2025; Bottom (L-R) - iFAST Hong Kong, B2B Division What & Where to Invest: 2nd Half 2025 FSMOne Events: iFAST Corporate Social Responsibilities (CSR) Activities: Top (L-R) - Singapore Top (L-R) - iFAST
Slide 67: Thank You
Thank You For more information, please visit: www.ifastcorp.com 67 67