Slide 1: HY 26 Results
HY 26 Results 27 February 2026
Slide 2: Important notices and disclaimer
Important notices and disclaimer This presentation and accompanying information (Presentation) has Forward statements You should note that Market Data is inherently predictive, is subject to been prepared for the purpose of providing general background No representation or warranty, expressed or imp
Slide 3: Acknowledgement of Aboriginal and Torres Strait Islander people
The PEXA Group acknowledges Aboriginal and Torres Strait Islander people as the traditional custodians of the lands on which we work, live and dream, we pay our respects to elders past and present. We recognise that we have a role to play in creating space and place for Aboriginal and Torres Strait
Slide 4: Agenda
Agenda 01 Russell Cohen 1H26 Overview CEO & Group Managing Director 02 Liz Warrell Financial results Interim CFO 03 Russell Cohen Conclusion & CEO & Group Managing Director outlook 04 Appendix 3
Slide 5: 1H26 Highlights
1H26 Highlights Strong financial and operational performance powered by record volumes and focused execution • Record half year revenue in 1H26 Strong 1H26 • Disciplined cost management operating performance • EBITDA margin growth drives uplift in FY26 guidance • NatWest remo implementation on track
Slide 6: 1H26 Group financial snapshot
1H26 Group financial snapshot1 vs 1H256 Group Revenue Group EBITDA2 NPATA2 Statutory NPAT7 ↓ $215.3m +10% ↑ $85.8m +19% ↑ $40.3m +33% $15.4m >100% ↑ 1H25: $195.9m 1H25: $72.1m 1H25: $30.4m 1H25: ($29.5m) Group EBITDA margin2,3 Free cashflow EPS2,4 Net Debt/EBITDA2,5 ↓ 39.9% +3.1ppt ↑ $40.2m +25% ↑ 8
Slide 7: Australia
Australia Record transaction volumes and cost efficiency programs drive margin growth Australia ($m) 1H26 Highlights 1H26 181.8 Revenue ↑ 10.2% • Record transaction volumes drove strong revenue 1H25 165.0 growth • Expense efficiencies achieved across core functions, driving EBITDA margin growth 1H26
Slide 8: Interoperability Update
Interoperability Update In our view, independent reports show there is no compelling case to continue interoperability COST BENEFIT FUNCTIONAL REQUIREMENTS REVIEW ANALYSIS PEXA today: Net benefits Technical Technical Likelihood of Estimated time Estimated cost Flexibility once Regulatory Model over
Slide 9: Exchange Evolution
Exchange Evolution Continuous innovation and industry advances in collaboration with customers Current state Future state (2-3 years) › AU Products built and optimised to service discrete › Leverage global IP to accelerate new product customer needs across segments development, and enhance exchange
Slide 10: International
International Solid 1H26 progress: NatWest implementation on schedule, UK market recovery International ($m) 1H26 33.5 1H26 Highlights Revenue ↑ 8.4% • Recovery in UK market in early 1H26 drove 1H25 30.9 (↑ 3.6% excl FX) favourable transaction volumes • Revenue gains offset by increased opex as we i
Slide 11: Digitising UK Property: Structural and Economic Advantages
Digitising UK Property: Structural and Economic Advantages PEXA streamlines and brings certainty and security to property transactions INSTRUCTION TO SETTLEMENT CONVEYANCER & LODGEMENT The Market Problem Highly manual, fragmented process Increased admin and re-work No visibility Poor customer servic
Slide 12: Financial results
02 Financial results Liz Warrell Interim CFO 11 11
Slide 13: Core financial operating results
Core1 financial operating results Record transaction volumes and cost discipline drive remarkable results vs PCP $m 1H26 1H26 1H25 vs PCP % Group revenue ($m) Australia 181.8 165.0 16.8 10.2% 1H26 215.3 International 33.5 30.9 2.6 8.4% Group revenue 215.3 195.9 19.4 9.9% 1H25 195.9 Australia (23.9)
Slide 14: 1H26 Reconciliation to Statutory Results
1H26 Reconciliation to Statutory Results NPAT impacted by outcome of strategic review and operating model changes Significant $m Core Statutory items Significant items ($5.4m): Group Revenue 215.3 215.3 Redundancy & restructuring costs: ($7.8m) Cost of sales (37.4) (37.4) • Operating model change in
Slide 15: Australia revenue and volume
Australia revenue and volume Revenue driven by unprecedented growth across all transaction types Revenue bridge ($m) PEXA transactions (‘000) 2,195 4.0 0.4 181.8 2,038 1,966 1,908 1,846 12.4 1,418 1,221 1,327 1,208 1,207 165.0 485 382 439 445 499 260 257 272 255 278 1H25 Market and CPI Mix & 1H26 1H
Slide 16: International revenue and volume
International revenue and volume Recovery in UK market continues Revenue bridge ($m) S&P and Remortgage volumes for Optima and Smoove (‘000) 2.8 54.8 1.5 33.5 10.9 1.5 45.2 44.9 30.9 38.4 40.4 (3.2) 7.7 9.5 7.9 8.9 43.9 37.5 35.4 30.5 31.5 1H25 Sale & Remo Search FX 1H26 1H24 2H24 1H25 2H25 1H26 Pur
Slide 17: PEXA UK platform
PEXA UK platform Transparency and clarity around UK pricing Transaction Types One-sided2 Two-sided sale One-sided Two-sided sale 1 Transfer of Product List Price Payer purchase with & purchase3 purchase with & purchase with Remortgage4 equity mortgage with mortgage cash cash Property Sale £45 Seller
Slide 18: Group cost and margin
Group cost and margin Cost efficiency programs offset planned operational spend, supporting margin growth Operating expense bridge ($m) Group and Australia EBITDA margin (%) 58.0 55.6 52.7 39.9 36.8 34.3 9.6 (89.3) (0.6) (2.0) (1.6) (92.0) 1H25 2H25 1H26 (7.0) (1.1) Group Australia 1H25 Inflation Sc
Slide 19: Capital expenditure
Capital expenditure Strong Free Cash Flow, Targeted investment in platform enhancement and innovation Free cash flow ($m) Capex ($m) 80.6 FCF conversion: 49.9% 26.8 25.7 (8.8) 2.9 6.0 1H26 40.2 6.6 (25.7) Australia (5.9) 16.6 Australia 3.4 17.1 2.8 2.5 Adjusted Net working Capex Net financing Free 4
Slide 20: Capital management
Capital management Balance sheet strength, disciplined capital allocation Debt maturity ($m) 180 Capital allocation $25 million 170 150 Buyback program has been ceased debt repaid 48 45 in 1H26 35 Further strength in balance sheet due to 132 125 115 debt reduction Jun-27 Jun-28 Jun-29 Disciplined ap
Slide 21: Conclusion & outlook
03 Conclusion & outlook Russell Cohen CEO & Group Managing Director 20 20
Slide 22: 1H26 Key Points
1H26 Key Points Robust financial, operational and strategic performance across the Group Strong 1H26 operating Positive performance momentum in UK Regulatory progress in Delivering on Australia core strategy 21
Slide 23: 2H26 Focus Areas
2H26 Focus Areas Positioning PEXA for growth • Continue investment in Australian Exchange to enhance security and resilience • Technological innovation aligned to customer and industry requirements • Preparation for upcoming regulatory determinations • PEXA Clear – product on track for 1 July 2026 s
Slide 24: Core Financial Operating Guidance
Core Financial Operating Guidance FY26 Guidance upgraded following exit of Digital Solutions and strong 1H26 Previous Current Metric FY26 Guidance FY26 Guidance Group Revenue1 $405m to $430m $395m to $415m Group EBITDA margin2 32% - 35% 34% - 37% Group Core NPAT2 continuing operations $5m to $15m $1
Slide 25: Appendices
Appendices Financials disclosed in this section is on an as reported basis
Slide 26: 1H25 Reconciliation to Statutory Results
1H25 Reconciliation to Statutory Results Group comparative financials Significant $m Core Statutory items Group Revenue 195.9 195.9 Cost of sales (34.0) (34.0) Gross Margin 161.9 161.9 Total Expenses (89.3) (22.1) (111.4) EBITDA before associates 72.6 (22.1) 50.5 Share of losses from associates (0.5
Slide 27: Australia
Australia Detailed financial information Australia financial performance vs PCP $m 1H26 1H25 vs PCP % Revenue 181.8 165.0 16.8 10.2% Cost of Sales (23.9) (19.0) (4.9) (25.8%) Gross margin 157.9 146.0 11.9 8.2% Operating expenses (52.4) (53.8) 1.4 2.6% EBITDA before associates 105.5 92.2 13.3 14.4% S
Slide 28: Australia
Australia Volume and market data summary Australia volume and market data: 1H26 vs 1H25 vs PCP $m 1H26 1H25 vs PCP % Transfer 140.2 128.2 12.0 9.4% Refinance 28.0 24.1 3.9 16.2% Other 9.6 9.2 0.4 4.3% Non-ELN fee revenue 1.4 1.1 0.3 27.3% Other revenue 2.6 2.4 0.2 8.3% Australia revenue ($m) 181.8 1
Slide 29: Australia PEXA transfer and refinance transaction volumes
Australia PEXA transfer and refinance transaction volumes FY22 FY23 FY24 FY25 FY26 300,000 5.0% 250,000 4.0% 200,000 Transfers 3.0% 150,000 2.0% 100,000 1.39m 1.17m 1.22m 1.33m 1.42m 50,000 33.0% 1.0% 15.7% 4.2% 8.7% 6.9% 1H22 2H22 1H23 2H23 1H24 2H24 1H25 2H25 1H26 FY22 FY23 FY24 FY25 FY2
Slide 30: International
International Detailed financial information International financial performance1 vs PCP vs PCP1 vs PCP $m 1H26 1H25 vs PCP % ex FX ex FX %1 Revenue 33.5 30.9 2.6 8.4% 1.1 3.6% Cost of sales (13.5) (15.0) 1.5 10.0% 2.1 14.0% Gross margin 20.0 15.9 4.1 25.8% 3.2 20.1% Operating expenses (39.6) (35.5)
Slide 31: International
International Volume and market data summary International volume and market data: 1H26 vs 1H25 vs PCP PCP var. PCP var. $m 1H26 1H25 vs PCP % ex FX ex FX % Smoove S&P Revenues 8.2 6.4 1.8 28.1% 1.4 21.9% Smoove Remo Revenues 5.8 4.5 1.3 28.9% 1.1 24.4% Optima Remo Revenues 8.4 6.2 2.2 35.5% 1.8 29.
Slide 32: Glossary
Glossary
Slide 33: Glossary
Glossary Term Term Type Type Definition Definition API Business Application programme interface ARNECC Business Australian Registrars’ National Electronic Conveyancing Council ARWG Business Advisory Risk Working Group established by ARNECC to assess operational and risk matters within the e-conveyan
Slide 34: Glossary
Glossary Term Term Type Type Definition Definition LTM (Last Twelve Months) Financial – non-IFRS Performance measured over the preceding twelve-month period. Net debt Financial – non-IFRS Borrowings less cash and cash equivalents (excludes leases) NPAT Financial - IFRS Net profit after tax as record
Slide 35: Investor Relations Media
Investor Relations Media Lisa Newns-Smith James Aanensen + 61 405 670 981 + 61 410 518 590 investors@pexa.com.au corporateaffairs@pexa.com.au