Praemium Ltd · ASX:PPS
Praemium — H1 2026 Earnings Presentation
31 slides from Praemium's earnings presentation, Feb 23, 2026
Slide 1: Half Year 2026 Financial Results
Half Year 2026 Financial Results Presented by Anthony Wamsteker CEO Emma Stepcic CFO Praemium Limited ACN 098 405 826
Slide 2: Acknowledgement of Traditional Custodians of Country
At Praemium we acknowledge the Traditional Custodians of Country We pay our respect to their Elders past and present 2
Slide 3: Disclaimer
Disclaimer The material contained in this document is a presentation of general information about the Praemium Group’s activities current as at the date of this presentation (23 February 2026) and is supplementary to the Group’s previous ASX filings as applicable. It is provided in summary and does
Slide 4: Presenters
Presenters ▶ Business Highlights ▶ Financial Performance ▶ Strategy and Outlook ▶ Questions Anthony Wamsteker Emma Stepcic CEO CFO 4
Slide 5: Business Highlights
Business Highlights
Slide 6: 1H26 financial highlights
1H26 financial highlights $ 15.2m $ 56.0m $ 70.5b 1.25cps HY EBITDA (underlying) Revenue from customers Custodial and non-custodial FUA HY26 dividend declared Up 17.9% Up 7.9%* Up 13.7% ▶ Increased operating ▶ Platform revenue up ▶ Spectrum organic ▶ 1.25 cents per share leverage with 10.5%*, now 82
Slide 7: 1H26 business highlights
1H26 business highlights Market leadership Efficiency gains Future positioning ▶ Spectrum HNW solution strong ▶ AI- driven coding, reporting ▶ Technotia Labs – adopting growth $3.6b in FUA and quality assurance pilots Computing Machinery & delivering efficiency gains Intelligence ▶ Scope+ market-lea
Slide 8: Economic and strategic rationale Technotia
Economic and strategic rationale Technotia ▶ Expanded product offering ▶ Leaner, more agile organisation Additional fully integrated product features to Fewer manual processes mean smaller, more drive efficiency within advice practices flexible teams that can adapt quickly as priorities change ▶ Des
Slide 9: Financial Performance
Financial Performance
Slide 10: Underlying financial performance improving
Underlying financial performance improving Income Statement ($’000) 1H26 1H25* % ▶ Platform revenue increase driven by record FUA from strong change Platform revenue 45,735 42,678 7.2% flows, offset by revenue losses from the OneVue exiting advisers Portfolio Services revenue 10,233 10,485 -2.4% ▶ P
Slide 11: Strong platform FUA growth with Spectrum traction
Strong platform FUA growth with Spectrum traction FUA (December 2025 v June 2025) $32.5b- up 6.1% $b Platform FUA ▶ Spectrum $3.6b – with new business gross inflows of 35 $1.4b since launch in October 2024 30 5yr CAGR 14.7% ▶ OneVue fully transitioned on to Praemium platform ▶ 14.7% Platform FUA CAG
Slide 12: Market-leader in non-custody
Market-leader in non-custody 40,000 $m Scope+ 12,000 ▶ Scope+ FUA $37.9b and 10.7k portfolios 35,000 10,000 - up 12.8% and 11.8% on 2H25 30,000 - up 18.9% and 13.6% on 1H25 8,000 25,000 Portfolios 20,000 6,000 ▶ Deep adviser relationships and recurring revenue 15,000 4,000 10,000 ▶ Focused growth in
Slide 13: Strong underlying total revenue growth
Strong underlying total revenue growth Revenue ($'m) 60 ▶ Total revenue grew 7.9% excluding the impact of 5yr CAGR 16.9%* the OneVue adviser exits 50 ▶ Portfolio services revenue flat to 2H25 due to a 40 reduction in portfolios with a managed client exit 30 ▶ Strong 5yr CAGR of 16.9%* driven by Plat
Slide 14: Platform revenue growth 10.5% vs pcp
Platform revenue growth 10.5%* vs pcp Platform Revenue $'000 $m Platform Revenue $'000 50 900 49,000 45 4,470 800 47,000 40 45,735 700 45,000 (1,412) 35 600 30 43,000 42,678 500 25 400 41,000 20 300 15 39,000 10 200 100 37,000 5 0 - 35,000 1H22 2H22 1H23 2H23 1H24 2H24 1H25 2H25 1H26 1H25 Platform O
Slide 15: Disciplined focus on operating expenses
Disciplined focus on operating expenses Underlying EBITDA $m 20 29% Revenue growth outpaces corporate expenses 18 27.1% 27% Underlying EBITDA margin up 12.0% vs pcp 25% 16 24.2% 15.2 23% 14 12.9 21% ▶ Underlying EBITDA increased 17.9% on 1H25 19% 12 17% 10 15% ▶ Underlying EBITDA margin increased 3.
Slide 16: OneVue financial outcomes EBITDA uplift above $3m on track
OneVue financial outcomes EBITDA uplift above $3m on track Acquisition & Integration Performance Outlook Acquisition costs ▶ FUA growth – strong ▶ Underlying EBITDA relationship with retained ▶ $1.0m to Iress advisers ▶ 2H25: ($0.3)m ▶ $1.8m legal and advisory ▶ FUA reduction expected for ▶ 1H25: ($
Slide 17: Restructuring for the future
Restructuring for the future Reshaping the cost base and enhancing technology performance and functionality ▶ Savings: around $12.7 m in salary reductions ▶ Added costs: Technotia salaries and contractor ~28% ~$9 m costs around $3.8m ▶ Restructuring cost: one-off cost of around $3.3m Headcount Net S
Slide 18: Tailwinds for Free Cash Flow
Tailwinds for Free Cash Flow Underlying Free Cash Flow $’000 10,000 8,507 ▶ Free Cash Flow impacted by significant one-off 8,000 items in the half year ended 31 December 2025 6,000 4,000 5,246 101 3,265 3,265 ▶ OneVue transition and restructure costs $2.0m (5,242) 2,000 - ▶ Technotia technology inve
Slide 19: Strategy & Outlook
Strategy & Outlook
Slide 20: Advice gap: opportunity for scalable growth
Advice gap: opportunity for scalable growth Number of HNW investors in Australia and their total investable assets 760,000 ▶ 10% increase in HNW investors 690,000 635,000 635,000 $4.1trn 625,000 $3.3trn $2.98trn ▶ 10% decrease in advisers $2,077trn $2.82trn 485,000 ▶ 2.5m Australians to retire in ne
Slide 21: HNW portfolios becoming increasingly complex driving demand for platform capability
HNW portfolios becoming increasingly complex driving demand for platform capability 9.54 b 14 % ▶ Substantial growth in private market allocation expected as HNWs seek new investment opportunities $ FUA in alternative assets Of total FUA on platform ▶ Significant growth in alternatives on platform (
Slide 22: The next era of technology innovation
The next era of technology innovation Intelligent Computing Machinery Resilience as a Continuous delivery & Automation & Intelligence design principle execution velocity ▶ Straight through ▶ Advanced modelling ▶ Architecture ▶ Modular systems processing by embedded within designed for speed integrat
Slide 23: A platform aligned with evolving HNW requirements
A platform aligned with evolving HNW requirements 23
Slide 24: Executing our strategy
Executing our strategy Growth | Product | Superannuation Service | Operations Accelerating growth in Capturing acquisition core platforms synergies ▶ Objective: revenue growth ▶ Objective: efficiency, scale, earnings and cash flow ▶ Continued enterprise momentum with Spectrum, supported by a strong
Slide 25: Outlook
Outlook Solid Focus on realising Momentum in Technotia operating synergies from new business integration and financial OneVue and wins and expected to momentum Technotia enterprise underpin onboardings sustainable earnings growth 25
Slide 26: Q&A
Q&A
Slide 27: Appendix
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Slide 28: Platform revenue margin
Platform revenue margin ▶ Spectrum’s lower revenue margin is due to Platform Revenue Margin (bps) 45 41 the significant account balances of early 40 40 37 38 adopters, expect to see the average account 34 35 28 30 28 28 balance reduce over time and margins 30 27 25 24 25 increase 20 19 18 19 20 17 1
Slide 29: Financial performance
Financial performance Underlying EBITDA to Statutory NPAT Balance Sheet ($’000) H126 H125 % change Underlying EBITDA 15,159 12,857 17.9% Underlying EBITDA margin % 27.1% 24.2% Share based payments (778) (790) 1.5% Depreciation & amortisation (4,389) (3,426) -28.1% Interest & other 732 1,085 -32.5% T
Slide 30: Balance Sheet
Balance Sheet Balance Sheet ($m) As at As at 31 December 2025 30 June 2024 Cash 30.6 41.0 ▶ Strong balance sheet available to fund future growth Receivables 11.3 10.4 ▶ Group regulatory cash Financial assets 2.9 2.6 requirement was ~$20m, Intangibles 77.1 72.9 including OneVue Other assets 13.9 8.7
Slide 31: 2025 Investment Trends sustained strong performance
2025 Investment Trends sustained strong performance ▶ No. 3 platform overall ▶ No. 1 in Data & Integration category ▶ No. 1 in 19 sub-categories ▶ 86% platform rating 31