Rea Group Ltd · ASX:REA
Rea — H1 FY26 Earnings Presentation
47 slides from Rea's earnings presentation, Feb 6, 2026
Slide 1: REA Group Investor & Analyst Presentation H1 FY26
ASX Announcement 6 February 2026 REA Group Investor & Analyst Presentation H1 FY26 On behalf of REA Group Ltd (ASX:REA) please find attached a results presentation for the half-year ended 31 December 2025. -ends- For further information, please contact: REA Group Ltd Investors: REA Group Ltd Media:
Slide 2: Half year results
Half year results 6 February 2026 Changing the way the world experiences property
Slide 3: Agenda
Agenda 01 Financial highlights 02 Property market update 03 Business highlights 04 Financial results update
Slide 4: Financial highlights
Financial highlights Cameron McIntyre Chief Executive Officer
Slide 5: H1 FY26 financial result
H1 FY26 financial result Reported net profit Revenue 2 EBITDA 1, 2, 3 Net profit after tax 1, 2 after tax 2, 4 $916 m $569 m $341 m $336 m +5% +6% +9% -24% 62% $1.24 $2.58 $478m $200m Operating EBITDA 1, 2, 3 Dividend per share, Earnings 31 December 2025 Up to $200m on - margin FY26 interim per shar
Slide 6: Property market update
Property market update
Slide 7: Listings environment improving driven by Melbourne and Sydney, with strong buyer demand
Property market update Listings environment improving driven by Melbourne and Sydney, with strong levels of buyer demand across all markets National listings improving as comparables become easier, but Record buyer demand levels with 20% YoY growth in enquiries 2 markets outside of Melbourne and Syd
Slide 8: Business highlights
Business highlights @ REA Group i ‘
Slide 9: H1 FY26 highlights
H1 FY26 highlights Strategic AI-led experiences and organisation highlights Re -imagining the way the world 61.5% investment in Planitar Inc. REA India strategic refocus experiences property with AI Acquisition of 3D tour and interactive floor plan Simplified business structure and new Rapidly exten
Slide 10: realestate.com.au record audience and high-quality engagement
Audience leadership highlights realestate.com.au record audience 1(A) and high -quality engagement Australia’s #1 address in property Active members +29% 2 Properties tracked by owner +51% 3 Total average monthly Seller leads + 130% 4 146.1mRECORD visits to realestate.com.au on all platforms 1(D) Bu
Slide 11: Clear strategic priorities driving growth
Strategy Clear strategic priorities driving growth Audience & Consumer Largest audiences , Engage Australia’s largest high -intent property most engaged consumers audience, driving more leads to our customers Advertising & Value Driving the best property outcomes for our customers, vendors orld exp
Slide 12: AI supports the Group's objectives and is a clear strategic focus
Strategy AI supports the Group’s objectives and is a clear strategic focus Consumers Personalised and immersive AI experiences, trusted property and financial content, AI -prime seeker models and audience acquisition channels orld exp the w eri ay en w ce he sp Changing t r operty Building the next
Slide 13: Immersive, personalised and AI-led experiences enhancing consumer engagement
Consumer Immersive, personalised and AI -led experiences enhancing consumer engagement AI Search Video Hub Property Assistant Natural language search roll -out underway, New video hub supports visualisation strategy, New conversational property assistant tool now available to 50% of web consumers dr
Slide 14: Premium advertising products with more choice and flexibility driving customer value
Customer advertising and platforms Premium advertising products with more choice and flexibility driving customer value Premiere+ Audience Maximiser Luxe Record Premiere+ New Audience Additional Luxe value penetration Maximiser options including extending supporting buy yield driving record premium
Slide 15: Superior tools and services supporting customers to grow their businesses
Customer platforms and services Superior tools and services supporting customers to grow their businesses Increasing value driving customer uptake and engagement +14% YoY increase in average monthly active users 2 Brand exposure Strength in customer Empowering customers supporting seller leads partn
Slide 16: Record audience and innovation driving growth in Commercial
Commercial Record audience 1(H) and innovation driving growth in Commercial Australia’s #1 commercial property website 1(I) Record Elite Plus penetration 2.9m 90% YoY Strong uptake of Elite Plus Unlimited Average monthly Growth in unique realcommercial.com.au unique audience 1(J) audience on all pla
Slide 17: Financial Services momentum accelerates
Financial services Financial Services momentum accelerates Gemini for brokers Product innovation and brand investment delivering revenue growth, supporting productivity and delivering value to the broker network • Submission volumes increased 24 % YoY and settlements up 14% • High quality leads from
Slide 18: Strategic enablers supporting AI integration and innovation
Strategy Strategic enablers supporting AI integration and innovation People & Organisation Strategic Partners & Investments of Australian employees have REA is partnering with leading global AI businesses and ~90% completed foundational AI training leveraging investments in innovative data and AI -l
Slide 19: Strong momentum behind AI integration
Strategy Strong momentum behind AI integration Recently delivered More to come Conversational search beta trial Natural language search Conversational Assistant • Extending conversational search • Expanding Conversation assistant Consumers • Exclusive content and video Next Best Actions on listings
Slide 20: International highlights
International highlights
Slide 21: REA India: strategic reset
International REA India: strategic reset Ultra launched REA India has streamlined with focus on the core Housing.com business and app -first strategy 20% YoY Improved listing quality 27% YoY Evolution of our Growth in leads in Q2 2 algorithm driving leads Growth in DIY business depth model Placing m
Slide 22: North America: Investing in product innovation and experiences
International North America: Investing in product innovation and experiences • Canadian -based proprietary camera and software platform, • Gaining audience and visits share: market leader with ~25% of all homes sold in Canada in 2025 realtor.com attracted 241 million average monthly visits in featur
Slide 23: Market Outlook
Market Outlook 22
Slide 24: Financial results update
Financial results update Janelle Hopkins Chief Financial Officer
Slide 25: Core financial operating results
Core financial operating results Core results ($m) 1, 3 H1 FY26 H1 FY25 Growth $ Growth % Adj Growth % 5 Group Revenue 1, 2 Revenue 2 H1 FY26 915.8 Australia 871.8 808.7 63.1 8% 8% International 44.0 64.2 (20.2) (31%) 0% H1 FY25 872.9 Group revenue 915.8 872.9 42.9 5% 8% H1 FY24 725.5 Operating expe
Slide 26: Statutory (reported 4D) vs core results
Statutory (reported 4D) vs core results Statutory Significant Core H1 FY26 ($m) (reported 4D) items 1 results 1 Group revenue 2 915.8 - 915.8 Significant items 1 Group operating expenses (349.4) 2.5 (346.9) • Gain relating to the sale of PropTiger • Impairment of software assets following the Group
Slide 27: Continued growth in Residential revenue
Continued growth in Residential revenue Driven by double -digit Buy yield growth Residential revenue ($m) Residential national buy listings YoY change +7% 658 7% 4% 614 0% (3%) (8%) (8%) Q1 Q2 Q3 Q4 Q1 Q2 FY25 FY25 FY25 FY25 FY26 FY26 H1 FY25 H1 FY26 National Sydney Melbourne Residential Buy revenue
Slide 28: Record Premiere+ penetration
Record Premiere+ penetration With YoY growth across all states Residential buy listings penetration (depth) 1 Record Premiere Residential Buy listing depth penetration • Total depth penetration has increased sequentially and YoY • Premiere+ penetration has grown YoY in all states • Continued improve
Slide 29: Commercial & New Homes
Commercial & New Homes Other Revenue up 10% with growth in New Homes outpacing Revenue up 8%, driven by growth in both Media and Commercial CampaignAgent Commercial & New Homes New Homes Project Profile Volume Other revenue ($m) 1 revenue ($m) YoY change +10% +8% 121 8% 35 7% 5% 5% 33 110 4% 0% H1 F
Slide 30: Financial Services delivers strong revenue and EBITDA growth
Financial Services delivers strong revenue and EBITDA growth Revenue up 11% driven by higher settlements, improving broker productivity and Proptrack customer data contracts Financial Services revenue ($m) 1 Financial Services EBITDA ($m) 1,2 Settlements ($bn) +14% YoY 13.7 +11% 58 52 21 11.9 +14% 1
Slide 31: International
International India: strategic reset to focus on Housing.com North America: Move revenue and lead growth accelerates India revenue ($m) India EBITDA ($m) 2 Move, Inc. revenue (US$m) 3 Move equity accounted losses ($m) 1 64 H1 FY25 H1 FY26 (40%) 10% 3 38 38 12 (11) (10) (17) (19) 26 26 269 295 (14) (
Slide 32: Australian operating jaws closed, but Group jaws open
Australian operating jaws closed, but Group jaws open Australia operating results growth 1 Operational expenses ($m) 1 22% +3% 347 India / North 338 7 North America America 57 14% 78 India 18% +9% 283 9% 260 19 COGS 13 26 12% 24 26 23 Other 8% 40 Australia 1% 36 Technology Marketing related 164 172
Slide 33: Continued investment to drive consumer engagement and customer value
Continued investment to drive consumer engagement and customer value Depreciation and amortisation ($m) 1 Group capital expenditure ($m) 160 25% FY25 H1 FY26 FY26 138 140 125 REA Group ($m) Actual Actual Forecast 20% 120 118 Australia 100 95 Office fit out costs Depreciation & amortisation 1 103 56
Slide 34: Strong cash position supporting increased investment
Strong cash position supporting increased investment Group cash flow ($m) Strong operating cash flows • Operating cash flow of $373m, with free cash flow of $303m Continued strategic investment (755) • Capex for PPE and intangible assets of $69m • Investment in subsidiaries includes payment for 1,25
Slide 35: FY26 Outlook
FY26 Outlook • New Buy listings expected to decline 1 - 3% – January down 8% YoY, with Melbourne and Sydney each declining by 1%. While comparables will become easier as we progress through the second half, the Group now expects national residential Buy listing volumes to decline by 1 -3%, reflectin
Slide 36: @reagroup
@reacroup 35
Slide 37: Supplementary information
Supplementary information
Slide 38: Core vs. reported reconciliation
Core vs. reported reconciliation Core vs. reported reconciliation H1 FY26 H1 FY25 Growth % Share of associate non - core costs Core operating income 915.8 872.9 5% • Includes REA’s share of costs (transaction, restructuring Reported operating income 915.8 872.9 5% and revaluation loss of financial l
Slide 39: Cash flow reconciliation
Cash flow reconciliation Cash flow reconciliation ($m) H1 FY26 H1 FY25 Growth % Free cash flow EBITDA excluding associates 1 568.9 535.4 6% • Working capital unfavourability mainly due to Working capital movement (75.0) (62.7) (20%) payment of CampaignAgent earn -out and incentives • Increase in net
Slide 40: Revenue breakdown
Revenue breakdown Revenue category ($m) 1, 2 H1 FY26 H1 FY25 Growth % Revenue category ($m) 1, 2 H1 FY26 H1 FY25 Growth % Australia Australia Depth revenue 3 736.3 690.2 7% Residential 657.7 614.0 7% Subscription revenue 3 42.5 34.1 25% Commercial & New Homes 121.1 110.3 10% Other 35.2 32.5 8% Other
Slide 41: PropTrack restatement
PropTrack restatement PropTrack has been reclassified and now sits within Financial Services (within Other previously) Updated Australia View ($m) H1 FY25 H2 FY25 FY25 H1 FY26 Previous Australia View ($m) H1 FY25 H2 FY25 FY25 H1 FY26 Revenue 2 Revenue 2 Residential 614.0 542.2 1,156.2 657.7 Resident
Slide 42: International segment breakdown
International segment breakdown Given the divestment of PropTiger and discontinuation of Housing Edge, a breakdown of revenue, operating cost and EBITDA between continuing and divested/discontinued businesses is also provided International ($m) 1 H1 FY25 H2 FY25 FY25 H1 FY26 REA India ($m) 1 H1 FY25
Slide 43: Financial comparatives: half-year
Financial comparatives: half -year 1 Core Financial Results Reported H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 H1 FY26 Group results $m Growth % $m Growth % $m Growth % $m Growth % $m Growth % $m Total revenue 2 590.4 37% 617.3 5% 725.5 18% 872.9 20% 915.8 5% 915.8 Total operating income 590.4 37% 617
Slide 44: Financial comparatives
Financial comparatives 1 Core Financial Results Reported FY21 FY22 FY23 FY24 FY25 FY25 Group results $m Growth % $m Growth % $m Growth % $m Growth % $m Growth % $m Total revenue 2 927.8 13% 1,169.5 26% 1,183.2 1% 1,452.8 23% 1,672.8 15% 1,672.8 Total operating income 927.8 13% 1,169.5 26% 1,183.2 1%
Slide 45: Glossary
Glossary Buyer enquiries Buyer enquiries include email enquiry, phone number reveals, applied for inspection, SMS agent, and Developer brochure downloads. Cash Cash includes cash and cash equivalents. EBITDA Earnings before Interest, Tax, Depreciation and Amortisation excluding contribution from ass
Slide 46: Audience metric sources
Audience metric sources Ipsos iris Online Audience Measurement Service, Nov 2025, P14+, PC/laptop/smartphone/tablets, text only, Homes and Property C ate gory, Brand Group, A Realestate.com.au, Audience (000’s) Ipsos iris Online Audience Measurement Service, Jul 2025 - Dec 2025 (average), P14+, PC/l
Slide 47: Disclaimer
Disclaimer The information in this presentation is in summary form only and does not purport to be comprehensive Visit our or complete. It contains information that has been derived from publicly available sources that has not been independently verified. This presentation should be read in conjunct