Slide 1: 1H26 Results Investor Presentation
1H26 Results Investor presentation For the half year ended 31 December 2025 20 February 2026 1
Slide 2: Agenda
Agenda 1. 2. Overview of 1H26 Financial results 3. 4. Summary Appendix
Slide 3: Overview of 1H26
1. Overview of 1H26 Brett Morgan Managing Director & CEO 1H26 Results Investor Presentation
Slide 4: Key highlights
Key highlights ● Underlying NPAT up 18.4% to $28.2m and Statutory NPAT up 39% to $27.3m on pp* ● Home loan book growth accelerated in Q2; equipment finance portfolio up 64% over the half; wealth contribution higher ● Operating costs well managed; Group cost to income ratio improved ● Transitioned to
Slide 5: 1H26 summary
1H26 summary Underlying NPAT Underlying earnings per share Interim dividend $28.2m 16.6 cps 12.0 cps +18.4% on pp +11.1% on pp +1.0 cps on Final Statutory NPAT $27.3m Total capital Loan book Customer deposits 16.9% $13.2b $10.2b -65 bps on pp +1.1% on pp +0.5% on pp +65 Net Promoter Score1 | High, s
Slide 6: Integration progress
Integration progress 98 out of 215 integration program initiatives have been completed Key integration initiatives Update • Aligning our cultures and operating model • Significant progress • Single banking licence • Complete • Retail bank branding • Adopt MyState as the future bank brand • New loan
Slide 7: 1H26 Business priorities
1H26 Business priorities Driving value through disciplined execution Priority 1H26 update • Book growth +0.4% • Profitably grow the home loan book • Invested in broker distribution • Record application volumes in Q2 • Customer deposit ratio at 70% • Strengthen deposit franchise • Launched new digita
Slide 8: Financial results
2. Financial results Gary Dickson CFO 1H26 Results Investor Presentation
Slide 9: 1H26 financial overview
1H26 financial overview Strong earnings growth; key metrics trending positively Financial Balance sheet, capital and funding Metric 1H26 2H25 1H25 1H26 v 2H25 1H26 v 1H25 Metric 31 Dec 25 30 Jun 25 31 Dec 25 v 30 Jun 25 Total operating income ($m) 125.2 109.6 77.0 14.1% ▲ 62.5% ▲ Customer deposits (
Slide 10: Half year Underlying and Statutory NPAT
Half year Underlying and Statutory NPAT 1H26 profit driven by increased scale and the achievement of year 1 integration synergies Net profit after tax ($m) 1 10.0 0.9 3.1 1.45 0.9 0.23 11.5 Decrease 28.2 27.3 24.0 Increase +18.4% 2H25 Underlying Net interest Other banking Wealth Operating Net bad an
Slide 11: Net interest margin
Net interest margin Exit NIM higher than average NIM for the half ● Net interest margin up 1 bps on pcp, down 3 bps on pp Average NIM trend ● Key themes for 1H26 1.45% 1.49% 1.46% o competition and customer behaviour o impact of higher capital relief securitisation o impact of cash rate reductions o
Slide 12: Operating costs
Operating costs Underlying expenses well managed ● The increase in expenses, including people and technology Operating costs ($m) 1 costs, primarily reflects the inclusion of Auswide Bank for the full period vs 4 ½ months in 2H25 2.8 3.0 5.3 1.1 ● Group cost to income improved by 40 basis points ● O
Slide 13: Synergies and integration costs
Synergies and integration costs Achieved annualised synergies of $10.4 million since merger completion, ahead of plan Synergy & integration costs profile FY25 1H26 FY26 FY27 FY28 Actual Actual Forecast* Forecast Forecast Target cumulative synergies (1) $1.8m $4.9m $10-$11m $14-18m $20-25m Target int
Slide 14: Quality home loan book
Quality home loan book Acceleration in Q2 FY26 applications supporting future book growth 90+ days S&P arrears data ● Home loan portfolio $12.9b MyState Group ● Continued focus on low-risk, owner occupied lending with a LVR <80% SPIN Majors 1.20% SPIN Regionals ● Acceleration in Q2 FY26 applications
Slide 15: Diversified funding mix
Diversified funding mix Strong deposit gathering capability Customer deposits ($b) ● Customer deposit ratio broadly stable at 70% 10.1 10.2 ● Deposit gathering capability across digital, branch and partnerships 6.1 4.7 5.1 ● New digital savings product launched in December to support customer and de
Slide 16: Well capitalised for growth
Well capitalised for growth Transition to a single banking licence supports capital management efficiency ● MyState remains well capitalised, with strong organic capital generation ● Total capital ratio of 16.9% following scheduled Tier 2 redemptions in July ($25m) and September ($12m) ● Capital pos
Slide 17: TPT Wealth providing income diversification
TPT Wealth providing income diversification Growth in key business lines Operating income ($m) 1 ● TPT operating income increased 12% on pp to $8.3m benefitting from improved business performance across 8.3 7.4 trustee services, lending and funds 7.2 ● Trustee Services FUM rose 11% to $531m primaril
Slide 18: Selfco providing lending diversification
Selfco providing lending diversification Book growth of 135% since merger Selfco loan book ($m) About Selfco $300.0 $260.7 ● Finances business critical assets used to generate cash flow $250.0 $200.0 $158.5 ● Operating in a $40 billion equipment finance market $150.0 $110.8 $100.0 $79.9 ● Nationally
Slide 19: Interim dividend of 12.0 cps, fully franked
Interim dividend of 12.0 cps, fully franked Dividend up 1 cps on FY25 Final dividend and 1.5 cps on 1H25 Interim dividend Dividend payout ratio based on profit type ● Dividend Policy targets a payout ratio of 60 – 80% of NPAT ● Interim dividend up 1 cps on FY25 Final dividend FY26 Interim 1H26 Statu
Slide 20: Summary
3. Summary Brett Morgan Managing Director & CEO 1H26 Results Investor Presentation
Slide 21: Looking ahead
Looking ahead Continuing to drive value through disciplined execution Business priorities Integration priorities • Profitably grow the home loan book • Single loan origination system • Grow customer deposits directly and via • Single core banking system partnerships • Single retail bank brand • Scal
Slide 22: MyState's investment case
MyState’s investment case Well capitalised providing Projected double digit EPS capacity for growth growth based on full merger run rate synergies1 Consistent track record of profitability. Current Proven Board and dividend yield of 5.2% 2, management teams fully franked 1. The merger with Auswide B
Slide 23: Appendix
4. Appendix Additional 1H26 information 1H26 Results Investor Presentation
Slide 24: MyState is a diversified financial services group
MyState is a diversified financial services group MyState Limited (MYS) is a diversified financial services group which listed in September 2009 Banking following the merger of MyState Financial, an authorised deposit-taking institution, and TPT Wealth, a trustee and wealth management company, Lendi
Slide 25: 1H26 Underlying to Statutory profit reconciliation
1H26 Underlying to Statutory profit reconciliation Banking group TPT Wealth Corp. & Consol. MyState Group (incl. Selfco) Underlying NPAT ($m) 1 26.7 1.5 - 28.2 Integration costs ($m) 2 (1.8) - (0.3) (2.1) Purchase Price Allocation ($m) 2 1.2 - - 1.2 Statutory NPAT ($m) 26.1 1.5 (0.3) 27.3 Estimated
Slide 26: Pro forma Underlying NPAT for FY25
Pro forma Underlying NPAT for FY25 The FY25 pro forma results for the merged entity includes 12 months of earnings from Auswide Bank Auswide Bank MyState Bank TPT Wealth Corp. & Consol. MyState Group (pro forma) 2 Total operating income ($m) 139.5 85.1 14.8 0.1 239.5 Total operating expenses 93.3 64
Slide 27: 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% ● Elevated run-off remains a sector wide challenge Group home loan book composition ($b) 1 Home loan concentration by state June 2025 D
Slide 28: Prudent loan provisioning
Prudent loan provisioning ● Credit quality continues to improve with the Group’s 90+ days home loan arrears at 0.28%, well below sector averages and down from 0.44% as at Collective credit provisions ($m) 30 June 2025 ● An increase of $0.5m in the collective provision primarily reflects the 11.7 12.
Slide 29: Forward looking economic overlay assumptions
Forward looking economic overlay assumptions ● Forward looking overlay of $2.6m Assumptions June 26 June 27 ● At 31 December 2025, the key assumptions used to determine the Unemployment (year ended) overlay incorporate the latest observed economic data including: Base Case 4.30% 4.40% ✔ relatively s
Slide 30: Capital, stock and flow metrics
Capital, stock and flow metrics Movement Stock metrics Dec-25 1 Jun-25 2 Dec-24 2 31-Dec-25 30-Jun-25 % (Jun - Dec 25) Broker 81% 84% 83% $m $m $m Proprietary 19% 16% 17% Qualifying capital Owner occupied 80% 81% 80% Common equity tier 1 capital (CET1) Investor 20% 19% 20% Ordinary share capital 497
Slide 31: Glossary
Glossary 1H: First half of financial year FHLDS: First home loan deposit scheme NPBT: Net profit before tax 2H: Second half of financial FUM: Funds under management OCR Official Cash Rate (RBA) year FY: Financial year PCP: Previous corresponding period ADI: Authorised deposit-taking institution FYTD
Slide 32: 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 33: MyStateBankW = Apsuewies § G5selFCO | TPTWealth®
MyStateBankW = Apsuewies § G5selFCO | TPTWealth® PART OF THE MYSTATE LIMITED GROUP