Eml Payments Ltd. · ASX:EML
Eml Payments — Eml Payments Ltd Ord — Q2 2026 Earnings Presentation
30 slides from Eml Payments's earnings presentation, Feb 25, 2026
Slide 1: EML Payments 1H26 results, 25 February 2026
rsonal use only 25 February 2026 Anthony Hynes. Executive Chair Stuart Will. CFO
Slide 2: Disclaimer & Important Notice
Disclaimer & Important Notice This investor presentation has been prepared by EML Payments Limited ABN 93 104 757 904 (EML) and is general background information about EML’s activities current as at the date of this presentation. This information is given in summary form and does not purport to be c
Slide 3: 1H26 Overview
rsonal use only 1H26 Overview. 3
Slide 4: Key themes at the half year
Key themes at the half year. A year of operational transformation progressing to plan, lead indicators are positive. rsonal use only 1 2 3 4 Restructure program Pipeline is strong Product development FY26 underlying EBITDA on track to conclude by and wins are flowing now front and centre. guidance t
Slide 5: 1H26 Performance Snapshot
1H26 Performance Snapshot. Continuing operations1 rsonal use only 3 Revenue Profitability Cash Total Revenue EBITDA (underlying)2 Cash $108.4m $28.0m $47.8m 6% 16% 19% Customer Revenue Statutory NPAT Net Cash Movement $79.4m $(4.0)m $(11.5)m 4% from $9.5m eps (1.04) cps Notes: 1 Continuing operation
Slide 6: EML 2.0 progressing to plan
EML 2.0 progressing to plan. rsonal use only Global Operating Model ✓ New structure and management continues to deliver improved speed, collaboration and efficiency Optimising our operating model + ✓ GlobalOps Centre realizing 35% cost saving – strengthening leadership 18 FTE increasing to 40+ FTE o
Slide 7: Business development momentum
Business development momentum. As at February 2026 Annualised revenue forecast1 Pipeline New wins Launched To launch rsonal use only $102m $23.8m $10.3m $13.5m What’s great? At 51% 1. Pipeline build on track, EUR, 17.7 EUR, 2.5 < 60 days with NAM a strong contributor Conversion2 $13.1m 2. Conversion
Slide 8: More from the core
More from the core. Through commercial relationship management and better execution. rsonal use only Existing client customer revenue Top 30 client (ex interest) renewal year spread • 9 Top 30 contracts renewed LTM, 2 Excluding 2024 client terminations clients lost in the Top 15-30 bracket previousl
Slide 9: Strategic Product Development - Mobility
Strategic Product Development - Mobility. The $1T global fuel card market is about to have its Kodak moment rsonal use only High cost Legacy Technology Unmet Customer EVs now a factor The cost of today’s Today’s networks and Demand Global EV adoption products are products are based on Selling fuel i
Slide 10: Market size and growth profile
Market size and growth profile. Global TPV Key Markets rsonal use only TAM $USD TPV $USD $1.0t TAM 2023 11% CAGR 25B 37B 30B $2.1t 55B 25B TAM 2033 Source: Imarc, Visa, Internal 10
Slide 11: The solution
The solution We are uniquely placed to bring together rsonal use only payments, fleet management and fuel Our technology will Our configurability will be retailing to create the mobility payment democratise access world beating network of the future, delivered today.... Fixed closed networks are dea
Slide 12: Project Arlo - single global platform
Project Arlo – single global platform. Powering a faster, digitised and expansionary EML2.0 Architecture – build the IP & license the commodity rsonal use only Portals High value-add functions + Apps $ Ledger Transaction Processor Third Party connections + SDK (Visa + Mastercard) Orchestration layer
Slide 13: 1H26 Financial Results
rsonal use only 1H26 Financial Results. Note: Throughout this presentation, amounts may not sum and change calculations may not equate due to rounding. 13
Slide 14: Key operating performance metrics
Key operating performance metrics. Continuing operations1 rsonal use only Profit and loss:2 1H25 to 1H26 A$’m 1H26 1H25 Change Underlying EBITDA decreased 16% ($5.5m) to $28.0m, primarily Customer revenue 79.4 82.3 ▼ (4%) reflecting a challenging prior-year comparison following ~$3.0m of non-recurri
Slide 15: Europe
Europe. Continuing operations rsonal use only GDV Financial performance Commentary $3.4bn 5% A$'m 1H26 1H25 Change — Revenue was down 12% on 1H25, driven by softer customer revenue and interest rate decline. Customer revenue 36.5 41.8 ▼ (13%) (1H25: $3.2bn) Interest revenue 23.6 26.2 ▼ (10%) — Custo
Slide 16: Asia Pac
Asia Pac. Continuing operations rsonal use only GDV Financial performance Commentary $2.0bn 13% A$'m 1H26 1H25 Change — Revenue increased 5% driven by an uplift in customer revenue offsetting lower interest revenue. Customer revenue 23.4 21.2 ▲ 10% (1H25: $1.7bn) Interest revenue 4.6 5.6 ▼ (18%) — C
Slide 17: North America
North America. Continuing operations rsonal use only GDV Financial performance Commentary $7.1bn 6% A$'m 1H26 1H25 Change — Revenue in line with 1H25 reflecting steady customer revenue offset with lower interest revenue. Customer revenue 19.4 19.3 ▲ 1% (1H25: $7.6bn) Interest revenue 0.8 1.0 ▼ (19%)
Slide 18: Underlying overheads net of Cost Recoveries
Underlying overheads net of Cost Recoveries. Continuing operations Underlying overheads net of Cost Recoveries were $53.1m, in line with PCP rsonal use only Underlying overheads net of Cost Recoveries: 1H25 to 1H26 ($’m) — Net overheads of $53.1m was maintained relative to pcp and 2% favourable to p
Slide 19: Treasury management
Treasury management. Bond contribution to total interest rsonal use only Stored float (by currency) at December 2025 Interest income ($’m) 51% $14.9m Other Group (excl PCSIL and Sentenial) USD Bond average term 2.5 years 6% Bond average yield 3.9% 3% 32.8 29.0 AUD 22.1 — Interest revenue has decreas
Slide 20: Cash flow
Cash flow. Continuing operations Underlying operating cash flow was $22.2m in the period rsonal use only EBITDA to underlying operating cash flow (A$m) — Underlying EBITDA of $28.0m generated $33.2m net cash outflow from operations, driven by the payment of the class action1, one-off and Project Arl
Slide 21: 2H26 Outlook & Priorities
rsonal use only 2H26 Outlook & Priorities. 21
Slide 22: 2H26 priorities
2H26 priorities. Turn wins to revenue, complete restructuring program and lay the foundation for an expansionary FY27. rsonal use only Build pipeline and close deals Efficiency Technology People Pipeline to ~$125m June 2026 Accelerate Global Ops Centre Arlo UK production Complete commercial and recr
Slide 23: Q&A
rsonal use only Q&A. 23
Slide 24: Appendix
rsonal use only Appendix. 24
Slide 25: Analyst briefing data: segment profit & loss
Analyst briefing data: segment profit & loss. Segment profit and loss1: 1H26 and 1H25 1H26 1H25 rsonal use only North Continuing North Continuing A$'m Europe Asia Pac America Corp.3 Operations Europe Asia Pac America Corp. Operations Sentenial 1H25 Customer revenue 36.5 23.4 19.4 - 79.4 41.8 21.2 19
Slide 26: Analyst briefing data: Reconciliation - statutory to management P&L
Analyst briefing data: Reconciliation - statutory to management P&L. Statutory profit and loss 1H26 Management profit and loss: rsonal use only A$'m 1H26 1H25 Statutory accounts to managements underlying profit and loss Revenue from contracts with customers 78.8 82.3 1H26 reconciliation A reconcilia
Slide 27: Analyst briefing data: one off adjustments
Analyst briefing data: one off adjustments. One off adjustments – 1H26 and 1H25 rsonal use only A$ 'm 1H26 1H25 Restructuring costs and strategy establishment 7.9 3.4 Risk management improvements and class action1 costs 1.4 2.4 Single Global Platform investment (Arlo) 4.5 0.3 PCSIL Separation and te
Slide 28: Analyst briefing data: stored value
Analyst briefing data: stored value. Stored float and cash summary A$ 'm 1H26 1H25 rsonal use only 1 Total Stored Value (including bonds) - AUD 2,640.7 2,507.2 2 Interest revenue 29.0 32.8 Annualised Interest Rate (%) 3 3.1% 3.7% Cash opening 59.3 43.1 Operating activities (33.2) 4.6 Investing activ
Slide 29: Balance sheet
Balance sheet. Balance sheet1 Cardholder Corporate $A'm Dec-25 Jun-25 Change funds Balances rsonal use only Cash and cash equivalents 47.8 59.3 (19%) 47.8 Contract assets 49.3 46.9 5% 49.3 Intangibles 109.1 113.5 (4%) 109.1 Segregated funds and bonds investments 2,666.6 2,375.2 12% 2,640.7 25.8 Othe
Slide 30: Glossary
Glossary. rsonal use only Abbreviation Meaning Abbreviation Meaning AASB Australian Accounting Standards Board GPR General Purpose Reloadable AFSL Australian Financial Services Licence Interpath PCSIL Liquidator Arlo Single Global Platform investment MVP Minimum Viable Product D&A Depreciation and A