Slide 1: 2025 Half Year Results
Smart Group Smartgroup. HY 2025 Investor Presentation 2025 Half Year Results Scott Wharton Jason King Managing Director and CEO Chief Financial Officer
Slide 2: Acknowledgement of Country
Smart Group Acknowledgement of Country Artist Statement Smartgroup acknowledges the Custodians of Country throughout Australia. Co-existing with Mother Earth from the first days of understanding of kinship and the importance of caring for Country. Preparing for the future and prospering by We pay ou
Slide 3: Contents
Smart Contents 01 — 2025 Half Year Highlights 02 — Strategic Priorities Update 03 — 2025 Half Year Performance 04 — Summary and Outlook
Slide 4: 2025 Half Year Highlights
Smart Group Smartgroup. HY 2025 Investor Presentation 01 — 2025 Half Year Highlights
Slide 5: H1 2025 Financial Highlights
Smart Group H1 2025 Financial Highlights Revenue EBITDA NPATA2 $159.1m $63.6m $38.1m Return on +7% v pcp EBITDA +13% Customers v pcp +12% v pcp Dividend3 Equity1 Margin 30.7% 40% 19.5 cps +1.9ppt v pcp +2ppt v pcp +11% v pcp 1. Return on equity is LTM NPATA divided by average shareholders’ equity 2.
Slide 6: H1 2025 Operational Highlights
Smart Group H1 2025 Operational Highlights Strong customer growth Demand for novated leasing Strategic Priorities Sustainability • 484,000 active customers at June, +82,000 • +8% growth in leasing settlements v pcp • New digital salary packaging sign-up • Sustainalytics ESG Risk Rating 11.1. v pcp (
Slide 7: Investment proposition
Smart Group Investment proposition Leading player with • Positioned as a market leader in salary packaging and 566,000 ~2.4m Leading, diversified exposure • novated leasing Broad product offering incl. exposure to fleet management LTM salary packaging potential customers in customers1 existing clien
Slide 8: Strategic Priorities Update
Smart Group Smartgroup. HY 2025 Investor Presentation 02 — Strategic Priorities Update
Slide 9: Our Strategic Priorities and focus
Smart Group Our Strategic Priorities and focus Our ambition Smarter Benefits for a Smarter Tomorrow Simplifying benefits and adding value to our clients and customers, while enabling businesses to attract and retain great teams as we build a more sustainable Australia. Our focus Smarter Experiences
Slide 10: Strategic roadmap
Smart Group Strategic roadmap Realise scale benefits – Feb 24 Announced targeting mid-40s EBITDA Strategic Priorities margin during the year 2024 2025 2026 2027 2028+ Focus on growth and demand generation through digital marketing, improved digital assets and excellent customer experience Focus on b
Slide 11: Examples of our digital investments
Smart Group Examples of our digital investments Delivered in CY24 Delivered in H1 25 2025 - 2026 New digital home smart.com.au New digital packaging journey New App1 Continuous enhancements of our digital assets. e.g.: • SEO Optimisation and customer experience enhancements of smart.com.au Brand, Sy
Slide 12: Delivering Smarter benefits for a Smarter tomorrow
Smart Group Delivering Smarter benefits for a Smarter tomorrow Strong progress on our Strategic Priorities in H1 2025 Customer-focused, digital and Leadership in Novated Leasing Innovation of propositions to Targeted investment in fleet efficient salary packaging offering via EVs meet growing custom
Slide 13: Our addressable market is a significant growth opportunity
Smart Group Our addressable market is a significant growth opportunity Total filled jobs • There are over 15 million employed ~ 11.5m ~ 2.4m ~ 2.0m Australians, of those circa 14 million earn a in Australia1: salary above $20k, and can benefit from Estimated number of employed salary packaging ~ 10.
Slide 14: Continuing to drive scalability
Smart Group Continuing to drive scalability Increase in eligible customer Improvement in customer Improvement in product base1 on pcp penetration2 relative to pcp uptake relative to pcp +7% ~2.4m +13% 20% +3% ~2.3m 19% ~2.2m ~2.2m 18% 18% 17% 17% 15% 15% 2022 2023 2024 H1 2025 2022 2023 2024 H1 2025
Slide 15: Case Studies
Smart Group Case Studies Increasing customer penetration across segments Illustrative Segment Penetration Initiatives Driving results Client A1 (NFP client in NSW) • Strategic account Not-for-profit management +7% relative improvement in customer penetration vs pcp • Digital marketing • Data and ana
Slide 16: 2025 Half Year Performance
Smart Group Smartgroup. HY 2025 Investor Presentation 03 — 2025 Half Year Performance
Slide 17: Record customer numbers across all key product lines
Smart Group Record customer numbers across all key product lines Active salary packages Novated leases Fleet managed under management vehicles +20% 484,000 +24% +82,000 80,000 402,000 +6% +15,400 32,400 64,600 30,600 +1,800 HY 2024 HY 2025 HY 2024 HY 2025 HY 2024 HY 2025 • Onboarding of new clients
Slide 18: Resilient leasing demand and yield sustained
Smart Group Resilient leasing demand and yield Strong customer demand • Continued customer interest in novated leasing sustained • Enhanced marketing activities across multiple channels and ongoing customer education Vehicle delivery timeframes stable • Average Vehicle Order to delivery timeframes (
Slide 19: Orders continue to grow
Smart Group Orders continue to grow New vehicle orders growth (PHEV, BEV, ICE) +9% • Availability of EVs remains good, with new models expected throughout 2025 +32% • Strong BEV interest during H1 2025, new vehicle orders +32% vs pcp. PHEV new vehicle orders +46% vs pcp, driven by the end of the dis
Slide 20: Strong earnings growth, from sustained revenue uplift
Smart Group Strong earnings growth, from sustained revenue uplift $m Revenue H1 20251 159.1 H1 2024 148.5 Change % 7% Product costs (cost of sales) (6.0) (6.6) (9%) • Revenue growth driven by novated leasing and new clients Net revenue 153.1 141.9 8% • Reduced product costs from lower attachment of
Slide 21: High cash conversion at 138% of NPATA
Smart Group High cash conversion $m H1 2025 H1 2024 Change % at 138% of NPATA Receipts from customers (inc GST) 192.9 173.5 11% Payments to suppliers and employees (inc GST) (124.6) (120.7) 3% Interest received from operations 3.6 3.5 3% Interest paid (2.6) (2.5) 2% • Half-year receipts grew in line
Slide 22: Strong and flexible balance sheet with 0.3x leverage
Smart Group Strong and flexible $m 30 Jun 2025 31 Dec 2024 balance sheet with Cash 54.9 34.6 Other current assets1 241.5 285.5 0.3x leverage Current assets Non-current assets 296.4 343.9 320.1 333.2 Total assets 640.3 653.4 Current liabilities1 277.8 313.2 Borrowings 95.7 79.2 Other non-current liab
Slide 23: Disciplined approach to maximising shareholder returns
Smart Group Disciplined approach to maximising shareholder returns Return on Equity1 (ROE) Digital and technology simplification 30.7% Allocate capital for medium Investments Customer experience improvements 28.8% 26.1% and long-term growth 24.1% Potential acquisitions or partnerships Operating cash
Slide 24: Summary and Outlook
Smart Group Smartgroup. HY 2025 Investor Presentation 04 — Summary and Outlook
Slide 25: H1 2025 Summary
Smart Group H1 2025 Summary Revenue Customers NL orders Interim dividends Priorities $159.1m +82,000 v pcp 19% 19.5 cps Strong progress on Strategic Priorities +7% new salary packages, growth in leasing both from existing clients orders v pcp fully franked2 and from client wins NPATA1 v pcp Leases C
Slide 26: Outlook
Smart Group Outlook CY 2025 • Demand for novated leasing remains strong – July 2025 new lease vehicle orders and settlements in line with pcp • July yield remains resilient • External short-term uncertainties have eased • Industry dynamics across all business lines remain competitive • ~$11-13m expe
Slide 27: Appendix
Smart Group Smartgroup. HY 2025 Investor Presentation 05 — Appendix
Slide 28: The EV market is continuing to expand
Smart Group The EV market is continuing to expand $160,000 EV1% of new car orders (i.e. excl. used cars and refinances) $140,000 70.0% $120,000 60.0% 50.0% $100,000 EV luxury car tax threshold $91,387 40.0% $80,000 30.0% $60,000 20.0% $40,000 10.0% $20,000 0.0% H1 H2 H1 H2 H1 H2 H1 $0 2022 2023 2024
Slide 29: Reconciliation of earnings to statutory financial statements
Smart Group Reconciliation $m Net revenue H1 2025 153.1 H1 2024 141.9 of earnings Operating EBITDA One-off costs 63.6 - 56.2 - to statutory Segment results Net finance costs 63.6 (1.6) 56.2 (1.8) financial Depreciation expense (3.6) (3.1) Amortisation expense (3.0) (2.0) statements Gain on sale of b
Slide 30: Balance sheet
Smart Group 30 Jun 2025 31 Dec 2024 $m statutory statutory Balance Cash 54.9 34.6 Restricted cash 206.2 245.1 sheet Trade and other current assets 35.3 40.4 Current assets 296.4 320.1 Property and equipment 2.6 2.7 Smartgroup funded vehicles 18.9 18.4 Right-of-use assets – other 10.5 2.5 Intangible
Slide 31: Important notice and disclaimer
Smart Group Important notice and disclaimer This presentation has been prepared by Smartgroup Corporation Ltd (ACN 126 266 831) (“Smartgroup”) and is general background information about Smartgroup’s activities current as at the date of this presentation. The information is given in summary form and
Slide 32: Investor contact
Smart Group Smartgroup. HY 2025 Investor Presentation Investor contact Aline van Deventer ir@smartgroup.com.au 0423 553 434