Earlypay Limited · ASX:EPY
Earlypay — H1 FY26 Earnings Presentation
20 slides from Earlypay's earnings presentation, Feb 26, 2026
Slide 1: H1 FY26 Results Presentation
Earlypay For personal use only H1 FY26 Results Presentation 26 February 2026 CEO James Beeson CFO / COO Paul Murray
Slide 2: Backing Australian businesses with flexible and reliable working capital finance
For personal use only Backing Australian businesses with flexible and reliable working capital finance. 2
Slide 3: H1 FY26 Financial Summary
H1 FY26 Financial Summary Lower than expected Funds in Use and higher credit expense drive reduced earnings; capital position remains strong For personal use only $268m 13.8% $18.2m $13.1m $1.8m Half-year end, Funds Operating Expenses Direct (Origination) Net Revenue margin Net Revenue in Use ↑ 3% p
Slide 4: H1 FY26 Earnings Outcome
H1 FY26 Earnings Outcome Why guidance was withdrawn when it was What it means for H2 For personal use only • FY26 guidance previously implied earnings approximately • Earnings in H2 are likely to be consistent with H1 15–20% above FY25 (~$6m NPATA) • A lower starting IF FIU and typical seasonal soft
Slide 5: H1 FY26 Statutory Results
H1 FY26 Results Presentation For personal use only H1 FY26 Statutory Results
Slide 6: H1 FY26 Summary – Reported P&L
H1 FY26 Summary – Reported P&L Modest growth with improved margins; higher OpEx in the short term; solid credit performance despite higher credit expense For personal use only Profit and Loss ($m) H1'25 H2'25 H1'26 1• Total Year end Funds in Use (“FIU”) up 4% on pcp: 30 June Y/E Reported Reported Re
Slide 7: Product Segment: Invoice & Trade Finance (IF / TF)
Product Segment: Invoice & Trade Finance (IF / TF) Lower IF FIU (driven by H2’25 reduction) at higher margins; strong credit performance; higher OpEx in short-term For personal use only IF & Trade Reporting ($m) H1'25 H2'25 H1'26 Δ pcp •1 IF FIU: Key Metrics – Decrease compared to prior period large
Slide 8: Product Segment: Equipment Finance (EF)
Product Segment: Equipment Finance (EF) Originations continued to accelerate throughout H1 FY26; network expansion supporting distribution of IF For personal use only EF Reporting ($m) H1'25 H2'25 H1'26 Δ pcp •1 23% origination growth driving Year end FIU of $145m, up 37% pcp Key Metrics Year end FI
Slide 9: Consolidated Balance Sheet
Consolidated Balance Sheet Strong balance sheet, cash flow generation and funding structures for growth For personal use only Balance Sheet ($m) 30-Jun-25 31-Dec-25 Δ pcp Balance Sheet Cash and cash equivalents 37.6 35.9 1 (3%) •1 Cash position of $36m as of 31 December 2025 Receivables - Invoice Fi
Slide 10: Capital Management & Outlook
H1 FY26 Results Presentation For personal use only Capital Management & Outlook
Slide 11: Capital Management
Capital Management Ongoing commitment to enhancing shareholder value For personal use only Capital Management Date Capital Management Initiative (Use of Funds) Amount • Over the past two years, $28m+ of capital released via refinancing Acquisitions of funding structures, reduction in balance sheet f
Slide 12: Growth & Operational Highlights
Growth & Operational Highlights Enhancements to support sustainable growth Operational efficiency and platform consolidation For personal use only • Our experience over the past 12 months has reinforced our • Consolidation of Invoice Finance loan management view that consistent growth requires broad
Slide 13: Outlook Guidance
Outlook Guidance • H1’26 ending IF Funds in Use and seasonality provide • FY26 Underlying Earnings Per Share is expected to be For personal use only a lower baseline for H2’26 FIU and revenue ~1.4 cents per share • New business activity and originations for both IF and • The Board intends to pay all
Slide 14: Appendix
H1 FY26 Results Presentation For personal use only Appendix
Slide 15: Product Segment Dashboard
Product Segment Dashboard For personal use only Invoice & Trade Finance Equipment Finance Margin (%) (LHS) vs. Ave. funds in use ($m) (RHS) Margin (%) (LHS) vs. Ave. funds in use ($m) (RHS) 8% $150m 22% $200m 20% 14.9% $180m 7% $125m 18% 12.8% $160m 6% 16% 12.0% 2.4% 2.4% $140m 3.4% $100m 14% 5% $12
Slide 16: Portfolio Composition
Portfolio Composition For personal use only Product Mix • TF: targeted reduction: Jun-24: $23m, Jun-25: $6.6m, Dec-25: $4.2m • IF: more diversified and better-quality portfolio Dec-25 • EF: primarily wheel-based assets: trucks / trailers, vehicles, earth moving etc; strong growth delivered over last
Slide 17: Funding for Growth
Funding for Growth Optimal capital structures now in place For personal use only Structure Facility Size Cost of Funds IF & EF Warehouses • Senior funding provided by Tier 1 Australian banks Invoice Finance & Trade Warehouse • Single mezzanine provider across both warehouses Warehouse Facility – Sen
Slide 18: Product Segment: Corporate Only
Product Segment: Corporate Only For personal use only Corporate Reporting ($m) H1'25 H2'25 H1'26 Δ pcp •1 Interest expense relates to early repayment / termination costs / Interest income 0.1 0.1 0.0 (76%) fees for warehouse facilities including the corporate bond. Interest expense (0.6) - - 1 (100%
Slide 19: Disclaimer
Disclaimer This presentation (”this Presentation”) has been prepared by Earlypay Limited [ACN 098 952 277] (“EPY” or the “Company”) and is dated 26 February 2026. For personal use only Summary information This presentation contains summary information about the current activities of EPY as at the da
Slide 20: Investor enquiries
For personal use only Investor enquiries James Beeson Managing Director & CEO, Earlypay 1300 760 205 James.beeson@earlypay.com.au