Slide 1: 1H26 Investor Presentation
1H26 Investor Presentation ASX HMY David Stevens CEO and Managing Director Simon Ward CFO All values are in $AUD unless stated otherwise HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 1
Slide 2: Contents
Contents 1. 1H26 Highlights 2. FY26 Guidance 3. About us 4. Financial results 5. Outlook Appendix HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 2
Slide 3: 1H26 Highlights
1H26 Highlights HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 3
Slide 4: 1H26 Highlights vs 1H25 (pcp)
1H26 Highlights vs 1H25 (pcp) $6.1m Statutory NPAT $6.1m Cash NPAT 31% Cash RoE Lending & book growth 1H26 surpassed full year 1H26 also surpassed full Achieved 31% cash return Group loan book growth +9%. FY25 Statutory NPAT of year FY25 Cash NPAT of on equity up from 13%, a Australian book growth +
Slide 5: FY26 Profit guidance
FY26 Profit guidance HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 5
Slide 6: FY26 Guidance: Cash NPAT $13m, 128% increase on pcp
FY26 Guidance: Cash NPAT $13m, 128% increase on pcp Upgraded by $1m 8% FY26 Guidance: $13m Cash NPAT Cash NPAT ● Stellare® 2.0 driving year end loan book to $900m+ 331% ● Net interest margin: ~10% CAGR ● Risk adjusted income: ~6% ● Cash NPAT: $13m (previous guidance $12m) HARMONEY ©2026 1H26 INVES
Slide 7: About us
About us HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 7
Slide 8: What sets Harmoney apart
What sets Harmoney apart Fair, simple, personal loan Loans up to $100,000, Consumer-direct lending, data driven automation average $18,000 ● AU & NZ’s largest 100% consumer-direct online lender Personalised pricing ● Market opportunity >$150bn, current market share <1% 5.76% - 24.99% ● Our algorithm
Slide 9: Our customer flywheel: Acquire once, earn 2.5X
Our customer flywheel: Acquire once, earn 2.5X We’ve built a self-reinforcing growth engine where each customer generates 150% in subsequent lending at near-zero marginal acquisition cost. 150% ~0% 15 Subsequent Lending Repeat Customer CAC Months Existing customers borrow an vs. ~5.6% for new custom
Slide 10: How the Flywheel works
How the Flywheel works Result: Unit economics Four stages that create compounding Customer Acquisition that compound economics with each customer ● ~5.6% CAC via Google/AEO/Partners ● Prime customer profile First Loan ● $18,000 loan Data Intelligence 1 ● ~5.6% CAC = $1,000 ● Quality 1st party data ●
Slide 11: Financial results
Financial results HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 11
Slide 12: Cash NPAT and Statutory NPAT surpass full year FY25
Cash NPAT and Statutory NPAT surpass full year FY25 1H26 1H25 Change Loan book $857m $783m 9% Revenue $71.9m $64.4m 12% Net interest income 10.3% 9.0% 130bps improvement Risk adjusted income 6.4% 5.3% 110bps improvement Acquisition to originations ratio 3.1% 3.2% 10bps improvement Cost to income rat
Slide 13: Stellare 2.0 driving loan book and revenue growth
Stellare 2.0 driving loan book and revenue growth Loan book growth of 9% on pcp Revenue growth of 12% on pcp ● Stellare® 2.0 driving a re-acceleration in loan book 12% growth, with the loan book up +9% on pcp to $857m, Growth despite New Zealand loan book being suppressed by the weakest NZD since
Slide 14: Net interest margin and risk adjusted margin continue to improve
Net interest margin and risk adjusted margin continue to improve Stellare ® growing book and margins Margin drivers ● Interest rate on loan book up to 17.2% (16.8% pcp). ● Funding rate down to 7.0% (8.1% pcp). ● Loan book NIM up 130bps to 10.3% (9.0% pcp), new lending NIM continued at >10%. ● Credit
Slide 15: Consistent credit performance
Consistent credit performance Credit losses stable Annualised loss rate ● Deep consumer-direct data and AI credit models delivering prime loan book with 70% employed in professional, office or trades roles and 89% aged 30+. ● Credit losses 3.9% up 20bps from pcp, but within target range. ● Continuing
Slide 16: Stellare automation underpins increasing profitability
Stellare ® automation underpins increasing profitability Exceptional proven scalability Cost to income ratio below 19% Cost to Loan book ● Loan book up +9%. income % $ ● Stellare® platform continues to drive an industry leading cost to income ratio of 18.5%. ● Underpins 1H26 Statutory and Cash NPAT
Slide 17: Harmoney is capitalised for significant loan book growth without raising any equity
Harmoney is capitalised for significant loan book growth without raising any equity Current cash supports $1.5b loan book Reinvested profits fund loan book growth beyond $1.5b ● Growing profits fund future loan book growth, (i.e. $1m profit funds $25m loan book growth). Unrestricted Cash Supports 75%
Slide 18: Outlook
Outlook HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 18
Slide 19: FY26-27: Accelerating the Flywheel
FY 26 27 Accelerating the Flywheel Customer Acquisition PROGRESS Deliver Experience PROGRESS 1 2 What we’re building What we’re building ● Next generation AI underwriting with ● Multi-product customers (personal+auto) Stellare® 2.0 ● Life event triggered lending Originations Vehicle loan ● Embedd
Slide 20: Combined effect: Flywheel acceleration
Combined effect: Flywheel acceleration More customers + Higher Lifetime value + Faster velocity Stellare = accelerated profit growth >$900m $13m 31% FY26 Loan book FY26 Cash NPAT Return on Equity Guidance Upgraded Guidance HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026
Slide 21: Appendix
Appendix HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 21
Slide 22: $857m Loan Book - demographic consistency across the years
$857m Loan Book - demographic consistency across the years Loan Employment Region purpose status HARMONEY ©2026 1H26 INVESTOR PRESENTATION 19 FEBRUARY 2026 22
Slide 23: $130m+ embedded cash value in existing loan book
$130m+ embedded cash value in existing loan book + Business Value Existing loan book value + Business value at 31 December 2025 ● Proprietary, highly automated Stellare® 2.0 customer acquisition and credit assessment engine. Over 10,000 $130m+ new applicants create an account every month. income and
Slide 24: 30% Management/Board owned, plus 10% shareholder aligned long term incentive plan
30% Management/Board owned, plus 10% shareholder aligned long term incentive plan HMY Shareholder Composition Long term incentive share plan ● New LTI plan approved at December 2025 AGM. ● Targets are based on shareholder-aligned Earnings Board & Post-IPO Investors management per Share (EPS) growth
Slide 25: Experienced & shareholder aligned leadership team
Experienced & shareholder aligned leadership team Deep FinTech experience, large shareholdings (Board & Management 30%) and long term incentive share plan. Long term commitment with average tenure 7+ years across the leadership team. David Stevens Simon Ward Brad Hagstrom Anna Cupples Glen MacKellai
Slide 26: Join our Investor Hub: harmoney.com.au/invest
Join our Investor Hub: harmoney.com.au/invest ● Investor Hub is the best way to stay informed and connected with all things ASX: HMY. ● Comment and ask questions directly to Harmoney’s leadership team and see other investors questions and responses. ● See videos accompanying our ASX announcements, i
Slide 27: Profit and loss
Profit and loss 6 Months ended 6 Months ended 6 Months ended 31 December 2025 30 June 2025 31 December 2024 #039;000 #039;000 #039;000 Interest income 71,937 67,384 64,444 Other income - 419 - Total income 71,937 67,803 64,444 Interest expense 28,692 28,951 30,046 Incurred credit losses 16,420 14,605 14,238
Slide 28: Key operating and financial metrics
Key operating and financial metrics 6 Months ended 6 Months ended 6 Months ended 31 December 2025 30 June 2025 31 December 2024 Loan book value and growth Total originations (#039;000) 242,670 207,506 191,339 New customer originations (#039;000) 133,188 128,431 117,179 Existing customer originations (#039;00
Slide 29: Cash Flow
Cash Flow 6 Months ended 31 December 2025 6 Months ended 30 June 2025 6 Months ended 31 December 2024 #039;000 #039;000 #039;000 Cash flows from operating activities Interest received 68,645 67,693 63,486 Interest paid (28,078) (28,910) (29,233) Fee income 359 66 66 Payments to suppliers and employees (23,438
Slide 30: Balance Sheet
Balance Sheet 31 December 2025 #039;000 30 June 2025 #039;000 31 December 2024 #039;000 Cash and cash equivalents 50,146 52,617 47,233 Trade and other assets 3,530 3,594 3,853 Finance receivables 861,526 832,187 786,839 Expected credit loss provision (37,019) (36,812) (35,782) Property and equipment 3,676 2,
Slide 31: Important notice and disclaimer
Important notice and disclaimer The material in this presentation is provided for general information purposes No representation or warranty, express or implied, is made as to the fairness, only and is current as at the date of this presentation. It is not a prospectus or completeness, accuracy, ade