Helia Group Limited · ASX:HLI
Helia — Investor Presentation (August 2026)
48 slides from Helia's investor presentation, Aug 11, 2026
Slide 1: 2026 Half Year Results
2026 Half Year Results Investor presentation Accelerating financial wellbeing through home ownership 11 August 2026
Slide 2: Disclaimer
Disclaimer 2 This presentation contains general information in summary form which is current as at 30 June 2026. It may present financial information on both a statutory basis (prepared in accordance with Australian accounting standards which comply with International Financial Reporting Standards (
Slide 3: Agenda
Agenda 3 1 1H26 Overview 4 2 1H26 Financial results 14 3 Outlook 30 4 Supplementary information 33 5 Glossary 45 2026 Half Year Results
Slide 4: 1H26 Overview
1H26 Overview Michael Cant Interim Chief Executive Officer
Slide 5: 1H26 financial highlights
1H26 financial highlights 5 Statutory NPAT ($m) Underlying diluted EPS (cps) NTA and net CSM per share3 ($) 133.7 46.0 5.35 5.17 38.5 4.94 97.0 100.0 35.8 1.63 1.54 1.72 3.63 3.72 3.22 1H24 1H25 1H26 1H24 1H25 1H26 1H24 1H25 1H26 Contractual service margin Net tangible assets Underlying NPAT 1 ($m)
Slide 6: Economic environment
Economic environment 6 Labour market Dwelling values Interest rates • Unemployment rate up 30bps at 1H26 to 4.4%1 • National dwelling values up 1.2%2 in 1H26, but • RBA Cash Rate Target up 75bps in 1H26 to 4.35%3 Sydney, Melbourne and Canberra down • Hours worked and participation rate supportive fo
Slide 7: Market growth
Market growth 7 HLVR market categories ($bn)1 LMI industry GWP ($m) and Helia market share (%) 70 283 261 251 252 60 202 50 153 151 142 40 166 30 140 20 46% 42% 44% 10 34% 30% 0 2 1H24 2H24 1H25 2H25 1H26E 1H24 2H24 1H25 2H25 1H26E 2 LMI Lending Government Guarantees Other HLVR Other HLVR incl GGs H
Slide 8: Credit quality
Credit quality 8 Industry 90+ day arrears Helia delinquency number and rate1 8000 1.00% 0.90% 1.0% 7000 0.84% 0.84% 0.90% 0.79% 0.79% 0.80% 6000 0.8% 5,229 5,083 0.70% 5,043 5000 0.60% 4,309 4,140 0.6% 4000 0.50% 3000 0.40% 0.4% 0.30% 2000 0.2% 0.20% 1000 0.10% 0.0% 0 0.00% Dec-23 Jun-24 Dec-24 Jun-
Slide 9: 1H26 strategic progress
1H26 strategic progress 9 Purpose Accelerate financial wellbeing through home ownership Vision Australia’s most trusted risk partner for home lending Strategic objectives Enabling objectives Grow new business Create a simpler and Evolve risk maturity and Invest in our people more efficient business
Slide 10: New business
New business 10 Helia 1H26 GWP by customer Helia NIW: Investment vs. owner occupied1 ($bn, %) 14.0 49% 12.0 COBs CBA 40% 13% 10.0 15% 35% 33% 34% 8.0 ING 6.0 2.9 Non-banks 22% 2.1 2.2 29% 1.9 4.0 1.8 2.0 4.2 4.4 4.4 Other banks 3.6 21% 1.9 - 1H24 2H24 1H25 2H25 1H26 Owner occupied/Other Investment I
Slide 11: Cost management
Cost management 11 Expenditure incurred1 ($m) Closing FTE employees (n) 69.6 63.1 62.3 216 204 193 51.8 170 167 38.1 151 1 July 26 1H24 2H24 1H25 2H25 1H26 1H24 2H24 1H25 2H25 1H26 • 39% fall in expenditure incurred on pcp due to management expense actions and unusually low acquisition-related costs
Slide 12: Capital management
Capital management 12 Dividend per share (cps) Dividends and buy-backs ($m) 83 259.4 69 227.6 43 43 67 53 117.3 117.9 27 27 85.1 15 15 16 16 16 16 1H24 2H24 1H25 2H25 1H26 1H24 2H24 1H25 2H25 1H26 Ordinary Special Ordinary Special Buy-back • 16cps 1H26 fully franked interim ordinary dividend declare
Slide 13: Wrap up
Wrap up 13 Surplus capital Strong financial Key customer Further reductions in returned to performance renewals recurring expenditure shareholders 2026 Half Year Results
Slide 14: 1H26 Financial results
1H26 Financial results Craig Ward Chief Financial Officer
Slide 15: Income statement
Income statement 15 1H26 vs ($m) 1H25 2H25 FY25 1H26 1H25 (%) Insurance revenue 182.2 189.3 371.5 170.6 (6.4) • Insurance revenue down on pcp due to lower GWP in Insurance service expense (25.2) (17.0) (42.2) (32.5) 29.1 recent book years Net expense from reinsurance contracts (6.1) (7.5) (13.6) (4.
Slide 16: Gross written premium
Gross written premium 16 GWP ($m) GWP walk ($m) 109.9 (36.2) 85.9 (8.8) (1.6) (1.6) 61.6 109.9 61.6 1H25 GWP Loss of CBA Reduction in Rate & Mix Bulk 1H26 GWP 1H24 1H25 1H26 FHBs • GWP down 44% primarily due to loss of CBA and decline in FHB volumes • FHB were ~17% of Helia GWP in 1H26 (down from ~2
Slide 17: Insurance revenue
Insurance revenue 17 ($m) 1H25 2H25 FY25 1H26 Insurance revenue by year of origination ($bn) Expected insurance service expenses incurred 63.7 62.3 126.0 58.7 2026 2025 8% 2% Risk adjustment recognised in revenue 15.6 15.5 31.1 14.7 2024 Premium experience variations (0.8) (2.3) (3.1) (3.3) 6% 2019
Slide 18: Insurance service expense
Insurance service expense 18 Expenses and insurance expense ratio1 ($m, %) ($m) 1H25 2H25 FY25 1H26 30.2% 31.1% 30.4% 70 Incurred claims from current period 24.9 10.9 35.8 13.3 30% 28.5% 27.6% Changes to liabilities for prior incurred claims (51.9) (47.3) (99.2) (26.9) 60 25% Total incurred claims (
Slide 19: Delinquencies
Delinquencies 19 New and Closing delinquencies (n) Delinquency rate by book year (%) 1.80% 1.60% 1.40% 3,338 1.20% 2,866 2,521 1.00% 5,043 0.80% Average 4,309 4,140 0.60% 0.40% 0.20% 0.00% 1H25 2H25 1H26 1H25 2H25 1H26 New delinquencies Closing delinquencies pre 2020 2020 2021 2022 2023 2024 2025 •
Slide 20: Total incurred claims
Total incurred claims 20 Helia gross loss ratio1 2007 – 1H26 ($m) 1H25 2H25 FY25 1H26 76% Incurred claims from current period (A) 24.9 10.9 35.8 13.3 59% Impact of experience for the period (33.5) (37.0) (70.5) (22.4) 42% 44% 41% 41% 38% 40% 33% 30% 32% Basis changes (18.4) (10.3) (28.7) (4.5) 27% A
Slide 21: Expense movements and composition
Expense movements and composition 21 Income statement view ($m) 1H26 Expenditure incurred 1 mix ($m) Employee expenses 8.0 IT expenses 1.4 Property expense 63.4 3.6 53.1 38.1 25.0 Other expenses including acquisition costs 1H25 operating Insurance expense Acquisition Other operating 1H26 operating A
Slide 22: Net investment revenue
Net investment revenue 22 Net investment revenue Yield curve2 (%) ($m) 1H25 2H25 FY25 1H26 5.00 Interest and dividend / distribution revenue 50.5 52.0 102.5 59.4 4.75 Realised and unrealised gains / (losses) 53.9 (37.2) 16.7 (14.4) 4.50 4.25 Investment revenue 104.4 14.8 119.2 45.0 4.00 Investment e
Slide 23: Net insurance finance expense
Net insurance finance expense 23 ($m) 1H25 2H25 FY25 1H26 Interest rate sensitivity analysis Interest accreted to liabilities (28.3) (28.9) (57.2) (24.1) Impact on Income Statement before tax ($m) Change in Changes in interest rates (14.3) 18.4 4.1 (0.3) discount rate Financial assets1 Liabilities N
Slide 24: Balance Sheet
Balance Sheet 24 ($m) 30 Jun 25 31 Dec 25 30 Jun 26 Assets Cash 267.9 45.7 81.9 Investment income receivable • Cash and investments down 11% hoh due to FY25 20.2 25.0 29.6 dividend payments Investments (including derivatives) 2,514.5 2,410.7 2,099.2 Equity-accounted investees 14.1 11.4 8.8 • Insuran
Slide 25: Cash and investments
Cash and investments 25 Portfolio by rating4 Portfolio by duration ($m) 30 Jun 25 % 31 Dec 25 % 30 Jun 26 % Commonwealth1 364.9 42.8 147.7 20.6 148.6 24.1 0 - 1Yr 10% 11% AAA 10% State Gov't 211.6 24.8 77.1 10.8 51.0 8.3 28% 1 - 2Yr Corporate / other2 271.3 31.8 490.6 68.5 416.8 67.6 AA 15% Cash & c
Slide 26: Insurance and reinsurance contract liabilities
Insurance and reinsurance contract liabilities 26 Liability for incurred claims ($m) ($m) 30 Jun 25 31 Dec 25 30 Jun 26 241 PV future cashflows 497.6 421.2 379.6 198 Risk adjustment 120.9 106.0 93.5 179 Contractual service margin (CSM) 635.9 690.3 674.9 Liability for remaining coverage (LRC) 1,254.4
Slide 27: Contractual service margin
Contractual service margin 27 CSM walk ($m) CSM split as at 30 June 2026 (%) 13.1 36.1 (74.6) 10.0 20% Less than one year 24% One to two years Two to three years 690.3 674.9 10% Three to four years 18% Four to five years 13% More than five years 15% Dec-25 Interest New business Change in CSM recogni
Slide 28: Regulatory capital
Regulatory capital 28 ($m) 30 Jun 25 31 Dec 25 30 Jun 26 Capital base • PCA coverage ratio up 4bps hoh Net assets 1,021.9 1,019.0 892.5 • PML down 10% hoh due to cancellations and portfolio seasoning, which more than offset new business strain Regulatory adjustments for goodwill/intangibles (9.1) (9
Slide 29: Capital walk
Capital walk 29 PCA coverage ratio walk (x) 0.13 0.21 0.05 0.01 (0.06) (0.30) (0.18) (0.11) 2.03 2.07 1.79 Dec-25 Statutory NPAT Dividend & Buy- Dividends In-force runoff New business Reinsurance (% of Other Jun-26 Dividend Dividends Buy-back Proforma back strain PML) • FY26 interim dividends exceed
Slide 30: Outlook
Outlook Michael Cant Interim Chief Executive Officer
Slide 31: Outlook and FY26 guidance
Outlook and FY26 guidance 31 FY26 insurance revenue is expected to be within a range of Insurance revenue $330m to $360m (previous guidance $320m-$370m) FY26 total incurred claims ratio1 is expected to remain well below Total incurred claims through-the-cycle average levels 1. Calculated as total in
Slide 32: Delivering strong returns for shareholders
Delivering strong returns for shareholders 32 Underlying ROE (%) Dividends and buy-backs ($m) 259.4 24.0 227.6 22.2 Ordinary 19.3 Special 117.3 117.9 Buy-back 85.1 1H24 1H25 1H26 1H24 2H24 1H25 2H25 1H26 Note: dividends declared in respect of the relevant period and buy-backs executed in the relevan
Slide 33: Supplementary information
* Helia. Supplementary information
Slide 34: Residential mortgage lending market
Residential mortgage lending market 34 Originations and HLVR penetration1 Industry new loans funded: Investment vs. owner occupied ($bn, %) Helia NIW: Investment vs. owner occupied ($bn, %) 2 49% 29% 30% 32% 34% 35% 35% 45 37% 35% 40 20% 24% 14% 264.7 35 179.8 184.0 218.5 30 185.0 4.2 25 20 3.8 15 4
Slide 35: Australian key economic indicators
Australian key economic indicators 35 Change in dwelling values Rental vacancies (%) Jun-25 Dec-25 Jun-26 3 months 6 months 12 months (%) Sydney 1.6 1.8 1.6 Sydney -3.2% -3.5% 0.3% Melbourne 1.8 2.0 1.6 Melbourne -2.6% -3.6% -0.9% Brisbane 0.9 1.2 0.9 Brisbane 1.3% 6.2% 17.4% Perth 0.8 0.7 0.6 Perth
Slide 36: Reconciliations
Reconciliations 36 Expenses Statutory NPAT to underlying NPAT1 ($m) 1H25 2H25 FY25 1H26 ($m) 1H25 2H25 FY25 1H26 Expenditure incurred 62.3 51.8 114.1 38.1 Less investment expenses (1.4) (1.4) (2.8) (1.4) Statutory NPAT 133.7 111.2 244.9 100.0 Less claims handling expenses (2.9) (2.4) (5.3) (2.2) Les
Slide 37: Illustrative profile of insurance revenue recognition
Illustrative profile of insurance revenue recognition 37 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Years • Revenues are recognised over a 15-year period under AASB 17 • The impact of higher and lower GWP is reflected progressively in insurance revenue • Changes to claims and expense assumptions can have a
Slide 38: Insurance service result
Insurance service result 38 ($m) 1H25 2H25 FY25 1H26 Contractual service margin recognised 74.3 85.2 159.5 74.6 Risk adjustment recognised in revenue 15.6 15.5 31.1 14.7 Net expense from reinsurance contracts (6.1) (7.5) (13.6) (4.6) Expected insurance service result 83.8 93.2 177.0 84.7 Variations
Slide 39: Claims paid
Claims paid 39 Claims paid Mortgages in possession and Claims paid (n) ($m unless otherwise stated) 1H25 2H25 FY25 1H26 161 150 Number of claims paid 60 57 117 54 Number of MIPs 161 150 150 105 105 Average paid claim exc. CHE ($’000) 71 93 82 116 60 57 54 Claims handling expenses 2.9 2.4 5.3 2.2 Net
Slide 40: Delinquency trends
Delinquency trends 40 Number of delinquencies 1H25 2H25 FY25 1H26 Opening balance 5,083 5,043 5,083 4,309 New delinquencies 3,338 2,866 6,204 2,521 Cures (3,318) (3,543) (6,861) (2,636) Paid claims (60) (57) (117) (54) Closing delinquencies 5,043 4,309 4,309 4,140 Delinquency rate1 0.90% 0.79% 0.79%
Slide 41: Insurance in-force
Insurance in-force 41 As at 30 Jun 2026 As at 31 Dec 2025 Original Effective Change in Original Effective Change in Book year $ billions % Book year $ billions % LVR LVR house price % LVR LVR house price % 2016 & prior 89.4 44.9% 84.1% 20.2% 161.3% 2016 & prior 92.4 45.0% 84.1% 21.8% 147.9% 2017 8.0
Slide 42: Claims sensitivity to economic conditions
Claims sensitivity to economic conditions 42 Economic assumptions as at 30 June 20261 Claims sensitivity3 LRC ($m) CSM LIC excluding CSM4 Property price Mortgage rates Unemployment rates Upside economics Unemployment -1% -15 -5 10 National house price drop of One more rate hike by RBA Stay low and e
Slide 43: Portfolio book year reinsurance program
Portfolio book year reinsurance program 43 Reinsurance recovery by layer (% of probable maximum loss)1 Portfolio book year reinsurance cover ($m) 140% 276 120% 3rd Layer % of Probable Maximum Loss (PML) 100% 199 197 2nd Layer 80% 1st Layer 60% Retained Losses 40% 20% 0% 30 Jun 25 31 Dec 25 30 Jun 26
Slide 44: History of strong Total Shareholder Return (TSR) delivery
History of strong Total Shareholder Return (TSR) delivery 44 TSR to 7 August 2026 27% 27% 22% 1YR 16% 13% 10% 9% 8% 3% 2% Bank Insurer Bank Bank Bank HLI Bank Bank FINXR Insurer ASX200 Bank Insurer (4%) (5%) (10%) 3YR 120% 95% 89% 78% 73% 69% 69% 61% 60% 57% 44% 41% 30% HLI Bank Bank FINXR Insurer B
Slide 45: Glossary
* Helia. Glossary
Slide 46: Glossary
Glossary 46 Term Definition Term Definition The impact on the present value of cash flows and risk adjustment of any explicit changes in hoh Half on half, i.e. 1H26 compared to 2H25 Basis change actuarial model assumptions and parameters Bulk refers to lender paid LMI for cover on a portfolio or "bu
Slide 47: Glossary
Glossary 47 Term Definition Term Definition NTA (net tangible assets) per Net tangible assets (net assets less goodwill and other intangible assets) divided by the Technical funds The cash and investments held to support insurance contract liabilities share number of shares on issue, at the end of t
Slide 48: Investor materials can be found at investor.helia.com.au
Investor materials can be found at investor.helia.com.au For more information, analysts, investors and other interested parties should contact: Paul O’Sullivan Head of Investor Relations, Capital & Investments M: +61 499 088 640 E: investorrelations@helia.com.au The release of this announcement was