Osb Group Plc · LSE:OSB
Osb — H1 2025 Earnings Presentation
32 slides from Osb's earnings presentation, Aug 20, 2025
Slide 1: Group Interim results 2025
Group Interim results 2025 20 August 2025 1 OSB GROUP PLC | 2025 Interim results
Slide 2: Andy Golding, Chief Executive Officer
dy Golding ief Executive Officer OSB GROUP PLC | 2025 Interim results
Slide 3: We are on track
We are on track ¢ In March we set out our 2025 half year performance and full year guidance guidance 3 OSB GROUP PLC | 2025 Interim results plan to remain #1 coe ° H1°25 On track FY Guidance specialist lender with ® ° Loan book growth 9, Low single improving RoTE 8 Mats v digit NIM 2.30% v ©.2.25% e
Slide 4: H1'25 financial highlights
H1°25 financial highlights Cost discipline Disciplined ; Ongoing focus on RoTE . to create capacity for 5 lending invastane and capital returns 1.2% ; £192.3m 37.3p Net loan book growth 0.4% Profit before tax Earnings per share HY’ 2l: 1.4% Growth in core (20)% vs H1'24 (16)% vs H1'24 administrative
Slide 5: A reminder of our plan
A reminder of our plan Building on the strengths that have delivered success * Relationships with intermediaries and borrowers with proven capability to grow Credit expertise in a wide range of specialist secured lending segments 5 OSB GROUP PLC | 2025 Interim results Transforming the way we operate
Slide 6: Good H1'25 strategic progress
Good H1’25 strategic progress Savings cy Lending * Transform the lending experience for brokers, borrowers and colleagues * Improved operational efficiency and scalability Transform Modern scalable savings platform * Enhanced customer experience * Improved pricing flexibility Delivered * Kent Relian
Slide 7: 1% 2% 3% 4% 30/12/24 06/01/25 13/01/25 20/01/25 27/01/25 03/02/25 10/02/25 17/02/25 24/02/25 03/03/25
1% 2% 3% 4% 30/12/24 06/01/25 13/01/25 20/01/25 27/01/25 03/02/25 10/02/25 17/02/25 24/02/25 03/03/25 10/03/25 17/03/25 24/03/25 31/03/25 07/04/25 14/04/25 21/04/25 28/04/25 05/05/25 12/05/25 19/05/25 26/05/25 02/06/25 09/06/25 16/06/25 23/06/25
Slide 8: Delivering our plan: loan mix shift continues
Delivering our plan: loan mix shift continues Gross loans' Originations' Sub-segments June 2025 2025 Disciplined lending and deployment of credit expertise while maintaining our focus on blended risk adjusted returns Oowicis a | | 70% 48% * Buy-to-Let: professional landlords selectively co purchasin
Slide 9: We have a strong and diversifying business
We have a strong and diversifying business ite) x) = - - ° Q ao) £ iversi D Scale in Buy-to-Let 1st Buy-to-Let Specialist residential Commercial Asset Finance Bridging Residential development 5.9% largest independent BTL BTL market share lender Mortgages outstanding 2024 new lending 2024" 9 OSB GROU
Slide 10: Victoria Hyde, Chief Financial Officer
toria Hyde ief Financial Officer OSB GROUP PLC | 2025 Interim results
Slide 11: H1'25 P&L performance
H1°25 P&L performance Presented on a Statutory basis H1°25 H2’24 Change H1?24 Change £m £m £m Net interest income 337.0 312.9 8% 353.5 (5)% Net fair value loss on financial instruments (14.3) (7.4) 93% 5.9 n.m. Loss on sale of financial instruments - (2.4) nm. - - Other operating income 3.1 15 107%
Slide 12: Net interest margin
Net interest margin 12 bps I (13)bps 2431 = — — 2161 Statutory to po ' deriyit ' cee, | €.225} ' 1 i 1 1 ' ' 1 i 1 1 ' ' 1 i 1 1 ' r T T T T T — 1, H1'24 Cost of Lending Other H1'25 H2'24 Fy'25 retail funds margin funding Guidance * Cost of retail funds: deposit book continued to recycle with more c
Slide 13: Strong deposit franchise that is evolving to serve customers better
Strong deposit franchise that is evolving to serve customers better Funding channels as TFSME at 30 June 2025 Wholesale 2% ILTR 5% 1% Debt 4% Retail Deposit market spreads to SONIA’ @ is) £24.6bn Retail deposits at 30 June 2025 BS Rm £ Oo fos 56 SONIA +/- X BPS (40) (60) (80) (100) Jan'23 Jul'23 Oct
Slide 14: Cost discipline creates capacity for investment
Cost discipline creates capacity for investment Administrative expenses £m 0.4% rots H core cost 1¢.270! increase o7 : Os = — 131. a H1'24 Core Transformation Bank Levy H1'25 Fy'25 expenditure Guidance Cost income & > ra &> MANEX' * Core administrative expenses increased by 0.4% year-on-year * Expec
Slide 15: Transformation programme on track
Transformation programme on track Capital Operating Expenditure Expenditure £m £m ™Direct PEL charge = Amortisation Medium term considerations 15 OSB GROUP PLC | 2025 Interim results Intangible Asset £m A further c.£105m of transformation spend remains through to the end of 2027 Fully loaded transfo
Slide 16: Disciplined loan growth
Disciplined loan growth Gross loan book OSB Group Yield' BTL < 60% of tfoli or iy oy My, portfolio > Buy-to-let [a YY W, es oe Residential S) Fy’2u 21% H1725 =. 20% Commercial £25.3bn £25.6bn 2029 ®6 16 Asset finance @ Bridging ADD Residential development © @ mBuy-to-Let | Residential _m Commercial
Slide 17: Credit quality remains strong
Credit quality remains strong Expected credit losses £m ECL Coverage ratio December 2024 0.50% June 2025 0.49% ECL Scenario sensitivity analysis 2.4 | aad a 2 — (6.4) zz iz (0.8) (3.9) Fy'24 Macro scenarios Model 3+ months Stage New Individually H1'25, & valuation — enhancements arrears migration le
Slide 18: Capital generative, on track to 14% target
Capital generative, on track to 14% target CET1 ratio % Risk weighted assets (RWAs) £bn 1.2 | awa oe “ DP & (0.5) (0.1) 0.2 o4 rr .. — 80bps of organic 16.5% (0.8) capital generation Fy'24 Profit for Loan book Ordinary Other H1'25 pre Full year H1'25 Fy'24 Loan book Mix & H1'25 the period! growth di
Slide 19: Andy Golding, Chief Executive Officer
dy Golding ief Executive Officer OSB GROUP PLC | 2025 Interim results
Slide 20: Strong delivery against plan in H1'25 and on track for 2025
Strong delivery against plan in H1°25 and on track for 2025 Resilient financial performance combined with strategic progress Headroom to grow: Loan mix shift momentum continues Solid capital generation and attractive shareholder distributions Confidence in our short-term guidance and medium-term asp
Slide 21: Appendices
Group Appendices 21 OSB GROUP PLC | 2025 Interim results
Slide 22: Tangible net asset value
Tangible net asset value Tangible net asset value per share, pence TNAV Number of shares £m m December 2024 2,025 372 Suu Profit for the period 138 37 Final dividend (85) (23) Investment in transformation (intangibles) (10) 8) Share buybacks (101) () (14) Other movements 4 2 (1) Net change (54) (7)
Slide 23: OSB Group today
OSB Group today #1 Specialist lender Multi channel funding platform * Uk largest independent specialist * Two established retail savings brands Buy-to-Let lender! with high retention levels: 92% for KR * Holistic lending strategy with deep and 83% for CSB experience in Specialist residential, * Over
Slide 24: Components of Group capital
Components of Group capital Capital resources and requirements as a percentage of RWAs!' oo 24.7% management 23.5% 2.0% 14.0% By requirement — By instrument. Capital & MREL resources End state MREL type type 31 Dec 24 30 Jun 25 requirement due July 2026 =Pillort mPillar2a CCB = CCyB mCET! =ATI =Tier
Slide 25: OSB segment result: BTL/SME
OSB segment result BTL/SME 1. Gross loan book 10000 Gross loan book (£m) a ° 3 3 ° Fy 2024 Average book LTV! increased marginally to 69% (FY’24: 68%) with 5.1% of loans by value with LTVs exceeding 90% (FY’24: 4.5%). Average new origination LTV was broadly flat at 71% (H1’24: 70%). 2. Net interest i
Slide 26: OSB segment results: Residential
OSB segment results Residential 1. Gross loan book £2 2,000 8S 3 x 1,000 5 © 0 Fy 2024 RWA as % of net loans 46% 2,178 H1 2025 46% 3. Contribution to profit? 60 4O Contribution to profit (Em) Hi 2024° 26 OSB GROUP PLC | 2025 Interim results 1, Residential sub-segment average weighted LTVs include fi
Slide 27: OSB segment results: BTL/SME sub-segments
OSB segment results BTL/SME sub-segments 1. Buy to let The weighted average 10,000 interest coverage ratio (ICR) was 195% during e 2024 (H1 2024: 185%) & 5,000 Oo FY 2024 H1 2025 Gross loan book 3. Residential development HE Loans [0 Undrawn commitments Development finance to small and medium- 400 s
Slide 28: CCFS segment results: BTL sub-segment
CCFS segment results BTL sub-segment 1. Gross loan book 8,000 8g © 4,000 6,367 $3 oa 0 FY 2024 H1 2025 RWA as % of net loans 42% 43% 3. Contribution to profit! 100 SE ge Be 50 Ee Sa 62 9 Hi 2024 H1 2025 28 OSB GROUP PLC | 2025 Interim results 1. Total income less impairment losses or credits Average
Slide 29: CCFS segment results: Residential sub-segment
CCFS segment results Average origination LTV remained unchanged at 62%, whilst the book LTV increased marginally to Residential sub-segment popes 1. Gross loan book 2. Net interest income 3,000 100 Re aa SE 2000 $& ey Bq 50 a i J | 3 LO oO oF 0 22 0 FY 2024 Ht 2025 Ht 2024 Ht 2025 RWA as % of net lo
Slide 30: CCFS segment results: Bridging sub-segment
CCFS segment results Short-term bridging originations increased to £331.2m (H1 2024: £191.9m) as the Group concentrated on building a Bridg i ng su b-seg ment pipeline of high quality, high return business 1. Gross loan book 2. Net interest income 400 10 § A SE 3 oa gx 200 480 Lo 5 £8 sé OF 0 22 0 F
Slide 31: Updated forward-looking macroeconomic scenarios
Updated forward-looking macroeconomic scenarios Forecast macroeconomic variables over a five-year period Scenario Probability Economic measure Year end Year end Year end Year end Year end weighting % 2025 2026 2027 2028 2029 GDP 1 0.9 1.3 1.8 17 Unemployment 48 49 47 4.3 Pal Base case 4O House price
Slide 32: Important disclaimer
Important disclaimer This document should be read in conjunction with any other documents or announcements distributed by OSB GROUPPLC (OSBG) through the RegulatoryNews Service (RNS). This document is not audited and contains certain forwarclooking statements with respect to the business, strategy a