Slide 1: Half Year 2026 Results pack
Generation Development Group | 1 Half Year 2026 Results pack Proud owner of Presenters: Grant Hackett OAM Terence Wong Group Chief Executive Officer Chief Financial Officer Generation Development Group Generation Development Group All financial metrics are presented on an underlying basis in A$, unl
Slide 2: Agenda
Generation Development Group | 2 Agenda Business & Strategy Update 3 HY26 Financial Results 12 Priorities for FY26 21 Grant Hackett OAM Terence Wong Group Chief Executive Officer Chief Financial Officer
Slide 3: About Generation Development Group
Generation Development Group | 3 About Generation Development Group HY26 Highlights Diversified financial services group with leading positions $88.4m $20.1m Investment Bonds & Managed Accounts & Qualitative financial Revenue Underlying NPAT Lifetime annuities - Investment Portfolio Research and Rat
Slide 4: Why Generation Development Group
Generation Development Group | 4 Why Generation Development Group Structural tailwinds Growth with operating Multiple earnings levers Diversified financial services translating into flows leverage; capital-light with different cycles with difficult to replicate competitive advantages Retirement, tax
Slide 5: Earnings growth supported by FUM expansion
Generation Development Group | 5 Earnings growth supported by FUM expansion HY26 Financial Highlights $20.1m1 63% $10.0m 29% Underlying NPAT (Pro-Forma) Lonsec Underlying EBIT $6.9m 91%2 $9.8m (~$11.8m) 3 3% (~25%) Statutory NPAT Generation Life Underlying EBIT $88.4m4 35% $10.1m5 21%4 HY26 Group re
Slide 6: HY26 Key Performance Measures
Generation Development Group | 6 HY26 Key Performance Measures Market Share $1.3bn Average Investment Term $5.2bn 34% 57% 60% of annual market inflows1 14.3 year2 Investment Bonds inflows for (12 months to 31 September 2025) Investment Bonds funds under management (FUM) 12-month period $34.5bn 171%3
Slide 7: FUM Growth over the past years
Generation Development Group | 7 FUM Growth over the past 5 years Generation Life FUM ($bn) Evidentia Group FUM ($bn)1 $34.5bn $5.2bn Annual growth of managed account sector FUM2 $6 $35 $350 Evidentia Group2 $30 ~109% CAGR $300 $5 ~27% CAGR MA Sector FUM3 $25 $250 $4 ~26.5% CAGR $20 $200 $3 $15 $150
Slide 8: Strategic Priorities
Generation Development Group | 8 Strategic Priorities Executing against structural tailwinds in retirement, advice and platform adoption Further integration and embedding of Commence disciplined deployment of AI Continue to identify and acquire platform and product capabilities to within existing pr
Slide 9: Approach to AI: disciplined, targeted deployment
Generation Development Group | 9 Approach to AI: disciplined, targeted deployment Disciplined AI deployment Partnership-led delivery Integrated into current workflows; prioritising Leveraging external partners to high-impact use cases across research, accelerate capability and access portfolio analy
Slide 10: Approach to AI: phased delivery & capability build
Generation Development Group | 10 Approach to AI: phased delivery & capability build Phase 1 | Foundations Phase 2 | Embedded operating leverage Phase 3 | Market differentiation (0 – 6 months) (6 – 18 months) (18 – 30 months) Productivity & Disciplined Adoption Margin Expansion & Scalability Revenue
Slide 11: Agenda
Generation Development Group | 11 Agenda Business & Strategy Update 3 HY26 Financial Results 12 Priorities for FY26 21 Grant Hackett OAM Terence Wong Group Chief Executive Officer Chief Financial Officer
Slide 12: HY26 Financial result summary
Generation Development Group | 12 HY26 Financial result summary Generation Development Group Consolidated (A$’000) Consolidated Consolidated Change HY26 HY25 % Revenue1,2 88,350 65,651 34.6% Expenses2,3 (66,175) (51,168) (29.3%) Underlying profit after tax before annuities 22,175 14,483 53.1% Annuit
Slide 13: FY26 new operating structure and products
Generation Development Group | 13 FY26 new operating structure and products New structure implemented (1 July 2025) Transformational Group restructure to enhance alignment, financial reporting, and scalability with ongoing refinement as the business grows and scales Group operating structure Decentr
Slide 14: Pro Forma HY26 financial reporting
Generation Development Group | 14 Pro Forma HY26 financial reporting Generation Development Group Consolidated (A$’000) Corporate Generation Life Lonsec Evidentia Consolidated Fees - 28,831 23,004 27,997 79,832 Other Income 108 - - 156 264 Total Revenue 108 28,831 23,004 28,153 80,096 Personnel Expe
Slide 15: HY26 Financial Results Summary - Generation Life
Generation Development Group | 15 HY26 Financial Results Summary Generation Life (A$’000) Pro Forma Pro Forma HY26 HY25 Change Change % Adj3 Adj3 Revenue1,2 35,203 37,203 28,565 6,638 23.2% 30.2% Expenses2 (23,365) (23,365) (17,004) (6,361) (37.4%) (37.4%) Depreciation and Amortisation - - - - - - A
Slide 16: Momentum into FY26
Generation Development Group | 16 Momentum into FY26 Generation Life Annual Sales & Net Inflows ($m) Closing Funds Under Management in December ($m) at 31 December 2025 $1,015 at 31 December 2025 $5,163 25% CAGR $780 $723 $3,840 $639 $657 $605 $529 $515 $2,928 $454 $404 $2,360 $2,142 $314 $308 FY21
Slide 17: Proforma HY26 Financial Results Summary - Evidentia Group
Generation Development Group | 17 Proforma HY26 Financial Results Summary Evidentia Group1 (A$’000) HY26 HY25 Change Change % Revenue2 28,153 21,458 6,695 31.2% Expenses (17,263) (12,683) (4,580) (36.1%) Depreciation (752) (375) (377) (101.0%) Underlying EBIT 10,138 8,400 1,738 20.7% 1. On 18 Februa
Slide 18: Managed Accounts FUM ($bn)
Generation Development Group | 18 Managed Accounts FUM ($bn) Evidentia Group1 At 31 December 2025 $34.5bn 29.6 26.8 11.7 12.7 9.8 10.4 10.6 8.2 8.8 9.1 6.4 7.5 2.0 2.8 3.1 3.6 0.7 0.8 1.3 1.6 2.3 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23
Slide 19: Proforma HY26 Financial Result Summary - Lonsec
Generation Development Group | 19 Proforma HY26 Financial Result Summary Lonsec – Research and ratings1 (A$’000) Change HY26 HY25 Change % Revenue 23,004 21,378 1,626 7.6% Expenses (10,970) (11,682) 712 6.1% Depreciation (2,055) (1,973) 82 (4.2%) Underlying EBIT 9,979 7,723 2,256 29.2% 1. Following
Slide 20: Agenda
Generation Development Group | 20 Agenda Business & Strategy Update 3 HY26 Financial Results 12 Priorities for FY26 21 Grant Hackett OAM Terence Wong Group Chief Executive Officer Chief Financial Officer
Slide 21: Generation Development Group FY26 Outlook
Generation Development Group | 21 Generation Development Group FY26 Outlook Sustained growth in Generation Life, supported Increase Managed Accounts growth, including by legislative tailwinds and increasing demand completed mandate transition in Q3. FUM for tax-effective and longevity solutions. gro
Slide 22: Appendices
Generation Development Group | 22 Appendices
Slide 23: Reconciliation of statutory profit to underlying earnings
Generation Development Group | 23 Reconciliation of statutory profit to underlying earnings Generation Development Group Consolidated (A$’000) HY26 HY25 Change Change % Underlying profit after tax 20,117 12,376 7,741 62.5% Other items (net of applicable tax): Gain on remeasurement of pre-existing in
Slide 24: Generation Development Group timeline
Generation Development Group | 24 Generation Development Group April 2025 March 2024 ASX200 Timeline Investment Bonds FUM $3b February 2025 October 2020 July 2022 June 2024 Acquired $8.00 Evidentia Group 37% Lonsec Relinquished July 2017 investment in Lonsec acquisition of Pooled Rob Coombe Implemen
Slide 25: Mergers & Acquisitions
Generation Development Group | 25 Mergers & Acquisitions Categories and examples What does GDG look for? Regulatory Tailwinds Investment Bonds Tax reforms Caps to superannuation Financial services, Earnings CAGR of Market Leader and/or Division 2961 adjacencies, and bolt-ons 15-20% over the industry
Slide 26: Indicative Pro Forma HY25 financial reporting
Generation Development Group | 26 Indicative Pro Forma HY25 financial reporting Generation Development Group Consolidated (A$’000) Lonsec1 Lonsec Investment Solutions Corporate Generation Life (Research and Ratings) & Implemented Portfolios Ltd2 Consolidated Fees - 21,433 21,378 13,832 56,643 Other
Slide 27: Thank you
Generation Development Group | 27 Thank you For further information contact: Tanya Thomas Investor Relations Manager E: tthomas@genlife.com.au Proud owner of
Slide 28: Disclaimer
Generation Development Group | 28 Disclaimer This presentation has been prepared by Generation Development Group Limited ABN 90 087 334 370 (GDG). GDG believes that the information in this presentation is accurate and reliable, but no warranties of accuracy, reliability or completeness are given (ex