Slide 1: FY26 Results
FY26 Results Moving Payments Forward. Together. Craig Kennedy Jennifer Brice Managing Director Chief Financial Officer 20 August 2026 Cuscal Limited. ASX: CCL
Slide 2: Important Notice
IMPORTANT NOTICE This presentation has been prepared by Cuscal Limited (ACN 087 822 455) (Cuscal). This presentation contains summary information about Cuscal and its subsidiaries as at the date of this presentation. The information in this presentation does not purport to be complete and is not int
Slide 3: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY Cuscal acknowledges the Indigenous peoples and Traditional Custodians of the lands, waters and communities across the places in which we live and work. We pay our respects to Elders past and present and honour the enduring cultures, languages, knowledge and traditions of A
Slide 4: Agenda & Presenters
Agenda & Presenters Page 1 FY26 Highlights 5 2 FY26 Financial Performance 10 Craig Kennedy Managing Director 3 Strategy & Outlook 15 4 Q&A 18 A Appendix 29 Jennifer Brice Chief Financial Officer 4
Slide 5: FY26 Highlights
FY26 Highlights Craig Kennedy, Managing Director
Slide 6: FY26 highlights
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix FY26 highlights Defining year, focused on increasing scale and strengthening market position Our key achievements Disciplined execution Underlying Net Completed Robust capital of growth strategy Operating Income and acquisiti
Slide 7: Better Together
FY26 Highlights 1H26 Financial Performance Strategy & Outlook Q&A Appendix Better Together Strategically and financially compelling $15-$20 million post tax annual run rate cost synergies1 | Run rate post synergy EPS Accretion 2 25%+ | ROIC 3 20%+ Strategic alignment Operating efficiencies Improved
Slide 8: Indue integration
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Indue integration Synergy and integration targets on track ✓ Indue acquisition completed 1 Dec 2025 ✓ Peter Wright appointed as Non-Executive Director ✓ Integration Advisory Committee established ✓ Program workstreams establi
Slide 9: Paymark acquisition highlights and strategic rationale
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Paymark acquisition highlights and strategic rationale Paymark provides an attractive platform for Cuscal to achieve immediate scale in New Zealand while supporting the long-term growth profile of Cuscal New Zealand is on-str
Slide 10: FY26 Financial Performance
FY26 Financial Performance Jennifer Brice, Chief Financial Officer
Slide 11: FY26 Underlying results highlights
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix FY26 Underlying results highlights Strong organic performance supported by recent acquisitions Transaction volume Net operating income NPAT EPS +12% +20% +20% 4,798 347.7 +20% 46.2 4,277 23.9 290.4 38.4 20.0 $m $m $m cps FY25
Slide 12: Net operating income
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Net operating income Continued NOI uplift, with strong transaction volume growth Net Operating Income by capability $m FY26 FY25 Growth (%) FY26 NOI 20% on prior year 204.2 167.3 22% • Organic NOI growth 6% Issuing • Indu
Slide 13: Operating expenses
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Operating expenses Continued Underlying operating leverage ex. Indue and Paymark Underlying Operating expenses1 FY25 to FY26 $m Total Underlying operating expenses 20% to $282.3m 15.2 1.9 • Increased expenditure primarily d
Slide 14: Balance Sheet
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Balance Sheet Strong capital position; S&P AA-/Stable credit rating maintained Summary balance sheet CAR normalised $m June 2026 Jun 2025 Regulatory Capital and Capital Adequacy Ratio following completion of Indue acquisition
Slide 15: Strategy & Outlook
Strategy & Outlook Craig Kennedy, Managing Director
Slide 16: FY27 strategic priorities
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix FY27 strategic priorities Focus on innovation, new markets and client delivery Delivering value and Continued focus Extend products to supporting client on technology new segments and growth uplift markets Enhanced Advance in
Slide 17: FY27 outlook
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix FY27 outlook Building blocks underpinning FY27 underlying NPAT growth Double digit % Mid-single digit % Double digit % Mid-20s % Underlying NPAT growth Underlying NPAT growth Underlying NPAT growth Year-on-year Underlying Dri
Slide 18: Q&A
Q&A
Slide 19: Appendix
Appendix
Slide 20: A leading independent Australian B2B payments provider
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix A leading independent Australian B2B payments provider End-to-end payments infrastructure provider for broad institutional customer base Payment infrastructure and data overview Payment rails Infrastructure and connectivity C
Slide 21: Supporting clients across the value chain
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Supporting clients across the value chain Three core capabilities deliver improved speed and cost to market for our clients Issuing Acquiring Payments Make a card payment Accept a card payment Account to Account payments ▪ Pr
Slide 22: Shareholder proposition
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Shareholder proposition Strong, defensive earnings growth benefiting from structural tailwinds, delivering consistent returns to shareholders 1 2 3 4 Predictable Strong competitive advantages Multiple growth levers Structural
Slide 23: Results overview – Statutory Results
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Results overview – Statutory Results Statutory results highlights $m FY26 FY25 Growth (%) Total net operating income 347.4 290.4 20% • Statutory results include non-recurring Total operating expenses (292.8) (248.7) 18% acqui
Slide 24: Results overview – Underlying Income Statement
FY26 Highlights FY26 Financial Performance Strategy & Outlook Q&A Appendix Results overview – Underlying Income Statement $m Underlying FY26 Underlying FY25 Growth (%) Transaction Volume (m) (by number) 4,798 4,277 12% Gross fee & commission revenue 428.7 353.1 21% Direct fee & commission expense (1
Slide 25: Reconciliation of results
1H26 Highlights 1H26 Financial Performance Strategy & Outlook Q&A Appendix Reconciliation of results FY26 Statutory reconciliation to Underlying results Underlying $m FY26 Statutory Adjustments Underlying FY26 change pcp Fair Value Adjustments, Acquisition: Indue Braavos Group Indue Integration Equi
Slide 26: Cash Flow Statement
1H26 Highlights 1H26 Financial Performance Strategy & Outlook Q&A Appendix Cash Flow Statement Cash Flow Statement for Financial Year Ended 30 June 2026 $m 30 June 2026 30 June 2025 Fees, commissions and other income received 429.9 344.3 Fees & commissions paid (117.2) (97.6) • $764m increase in cas
Slide 27: Regulatory capital & Risk weighted assets
1H26 Highlights 1H26 Financial Performance Strategy & Outlook Q&A Appendix Regulatory capital & Risk weighted assets Regulatory capital build and ratios $m – Level 2 Group June 2026 June 2025 % mvt Total equity 433.7 376.4 15% Less: Deductions (174.5) (116.6) (50%) • Capital now ‘normalised’, in lin
Slide 28: Operating expenses presentation change FY26 reconciliation
1H26 Highlights 1H26 Financial Performance Strategy & Outlook Q&A Appendix Operating expenses presentation change FY26 reconciliation FY25 and FY26 Statutory operating expense Restated Restated Statutory Statutory $m Restatements Statutory Restatements Statutory June 2026 June 2025 June 2026 June 20
Slide 29: Glossary
1H26 Highlights 1H26 Financial Performance Strategy & Outlook Q&A Appendix Glossary Acronym Definition Acronym Definition APRA Australian Prudential Regulation Authority DPS Dividends per share AUD Australian Dollar EBITDA Earnings Before Interest, Tax, Depreciation and Amortisation BAU Business as
Slide 30: Investor Relations
Investor Relations Wynne Edgson investor@cuscal.com.au