Slide 1: FY25 Results Presentation
ASX RELEASE Plenti Group Limited (ASX:PLT) Authorised for release by the Board of Plenti Group Limited For more information please contact: Adam Bennett, CEO, shareholders@plenti.com.au Miles Drury, CFO, shareholders@plenti.com.au FY25 Results Presentation Year to 31 March 2025
Slide 2: Plenti is a technology-led lender
Plenti is a technology-led lender • We are Australia’s largest fintech consumer We are on a mission lender Purpose • Our Cash NPAT is growing rapidly To bring our customers’ big ideas to life • We deliver market leading customer experiences via our proprietary technology Vision platform Fairer, fast
Slide 3: Highlights
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Slide 4: Plenti had an outstanding FY25 on all metrics that matter
Plenti had an outstanding FY25 on all of the metrics that matter to deliver Cash NPAT of $13.8m FY25 market guidance – delivered Growth Growth Efficiency Profitability Originations Closing loan portfolio Cost-to-income Cash NPAT $1.4bn $2.5bn 23.9% $13.8m +18% pcp +19% pcp down from 26.5% +126% on p
Slide 5: Strong growth trajectory in FY25, accelerating in Q3 and Q4
Plenti continued its strong growth trajectory in FY25 with performance accelerating in Q3 and Q4 Loan portfolio grew to >$2.5bn, … which drove meaningful … with growing momentum in with >$6bn cumulative lending to revenue growth to >$250m quarterly originations on PCP date 2,537 25% loan 43% loan po
Slide 6: Increasing Cash NPAT due to loan book growth and cost discipline
Plenti is generating increasing Cash NPAT due to loan book growth, stable margins and disciplined cost management Cash NPAT ($m) Strong +126% 15 leverage as on pcp loan book • Outstanding FY25 profit growth scales reflects origination momentum, stable margins, relatively low 10 losses and good cost
Slide 7: Operational Performance
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Slide 8: Automotive loan book grew organically
The automotive loan book grew organically and benefited from the quality of our relationships with brokers, Tesla and NAB Automotive loan book ($m) FY25 highlights • 14% originations growth, 17% portfolio growth 1,400 • Balanced volume growth with solid margins Closing loan portfolio1 • Operations i
Slide 9: Renewable loan book grew significantly
The renewable loan book grew significantly, driven by strong relationships, GreenConnect and higher battery uptake Renewable energy loan book ($m) FY25 highlights 350 • 18% originations growth via our technology, service and relationship proposition Closing loan portfolio +25% • Won several new larg
Slide 10: Significant growth in personal lending
Significant growth in personal lending was driven by operational excellence and technology enhancements Personal loan book ($m) FY25 highlights 800 • Successfully leveraged diverse channels to deliver originations growth of 24% • Invested in underwriting capacity and Closing loan portfolio +19% 700
Slide 11: NAB Powered by Plenti car loan set up complete
“NAB Powered by Plenti” car loan set up is now complete and origination momentum is accelerating NPBP loan book ($m) FY25 highlights +105% 30 • Product now fully implemented across Average daily origination growth NAB and Plenti 1Q25/2Q25 – Phase 1 “Pilot” May MTD vs 4Q251 – Product visibility enabl
Slide 12: Investment in proprietary technology underpins growth and efficiency
Investment in our proprietary technology underpins our partner relationships, growth and efficiency Proprietary technology … providing a foundation for rapid gives Plenti total control… change and AI adoption… • Refreshed corporate strategy directly drives • Strong operational efficiency, continuing
Slide 13: Scale delivering improvements in cost efficiency and productivity
Plenti’s scale is delivering meaningful improvements to our cost efficiency and productivity metrics Cost-to-income1 Cost-to-net margin1 Average loan portfolio per FTE2 ($m) 80% 140% 10 70% 120% 60% 8 100% 50% 80% 6 40% 60% 30% 4 40% 20% 2 10% 20% 0% 0% 0 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY20 FY21
Slide 14: Focus on prime credit borrowers differentiates credit performance
Our focus on prime credit borrowers continues to differentiate our credit performance and loss rates Annualised net loss rate1 Average borrower credit score2 4.0% 900 • Plenti is a prime lender, focused on lending to borrowers with strong credit 3.5% characteristics Decline supported by 3.0% benign
Slide 15: Financial Results
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Slide 16: Excellent results across all financial metrics
Plenti achieved excellent results across all financial metrics delivering a 126% increase in Cash NPAT to $13.8m Loan portfolio • 16% increase in average portfolio on pcp Growth Revenue • 23% revenue growth to $259m Cash NPAT • Cash NPAT of $13.8m – up 126% on pcp Margins • Expanded NIM by 14 basis
Slide 17: 16% average loan book growth to ~$2.3bn
Plenti delivered 16% average loan book growth to ~$2.3bn, with a $2.5bn portfolio as at 31 March 2025 Average loan portfolio1 ($m) Commentary 49% • 16% growth in average loan portfolio on FY24 16% – 49% growth over two years • Growth in revenue due to loan portfolio growth – interest 28% yield now f
Slide 18: NIM expanding to 5.3%
Plenti remained focused on profitable lending with NIM expanding to 5.3% Net interest margin (NIM) (%) Commentary • Increased NIM 14bps on FY24– FY25 NIM of 5.3% • Maintained NIM while growing average portfolio 49% over last two years – balanced focus on margin and growth • Exit rate NIM on new orig
Slide 19: Net loss rate of 1.10%
Our focus on high quality prime borrowers delivered a net loss rate of 1.10% for the year Realised loan impairment expense (%) Commentary • FY25 net realised loan impairment expense of 1.10% reflecting solid consumer credit position • April average net loss rate of 1.05% shows ongoing stability in c
Slide 20: Disciplined cost management delivering positive jaws
Plenti continued to show disciplined cost management and operating efficiency to deliver positive jaws Operating costs vs net margin ($) Commentary • Key driver of the improvement in Plenti’s profitability in 60 recent years has been the differential in growth between net margin dollars (Margin) and
Slide 21: Cash NPAT increased by 126%
Our growing loan book, prime credit approach and cost leverage increased Cash NPAT by 126% $m FY24 FY25 % change • Full year Cash NPAT of $13.8m, up 126% on prior year – Driven by solid loan book growth, stable margins and losses and operating Interest revenue 207.2 254.5 23% cost leverage Other inc
Slide 22: Diverse and scalable funding platform
Plenti has a well established, diverse and scalable funding platform that provides a reliable foundation for growth Loan portfolio funding ($m)1 Commentary • Record year for ABS issuance with three transactions executed for over $1.3bn – continued strong support from domestic and offshore investors
Slide 23: Strategy
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Slide 24: Small shares of very large markets
Plenti (currently!) has small shares of very large markets, creating significant runway and growth potential Automotive annual originations Renewable annual originations Personal lending annual ($bn) ($bn) originations ($bn) 70 1.0 16 0.9 60 14 Potentially 0.8 addressable markets 12 50 0.7 such as n
Slide 25: Proven competitive strengths
Our proven competitive strengths work together to deliver our performance and growth momentum Our partnership capabilities Our proprietary • Commercially collaborative culture technology • Proven technology integration capabilities • End-to-end cloud native stack • Enables fast, simple and easy • De
Slide 26: Scaling the business drives profit trajectory
Continuing to scale the Plenti business is critical to driving our profit trajectory and shareholder value creation Growing the loan book with prudent …while driving operating cost …drives strong Cash NPAT growth margin and credit management… efficiency… 2,303 13.8 5.4% 1,977 4.6% 4.2% 4.2% 47% 1,54
Slide 27: Breakout growth ambition across three horizons
Our strategy is simple: we are pursuing a breakout growth ambition across three clear horizons over the next five years → MARCH 2026 → MARCH 2028 → MARCH 2030 Horizon 1 Horizon 2 Horizon 3 Grow by doing what we do Grow by also doing new Grow by scaling boldly into – but better things new opportuniti
Slide 28: Strategic capabilities
Our success will be underpinned by extending and improving three distinctive strategic capabilities → MARCH 2026 → MARCH 2028 → MARCH 2030 Horizon 1 Horizon 2 Horizon 3 Grow by doing what we do Grow by also doing new Grow by scaling boldly into – but better things new opportunities Deeper relationsh
Slide 29: $3bn loan book by March 2026
We’ll continue to drive loan origination momentum to deliver a $3bn loan book by March 2026… 5-year strategic horizon FY26 FY27 FY28 FY29 FY30 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 $3bn loan book Q2 run-rate (Sept-30) Status quo run-rate $323m originations • Assuming loan book
Slide 30: $5bn loan book aspiration over medium term
… with a $5bn loan book aspiration over the medium term Illustrative loan book growth scenarios1 5-year strategic horizon FY26 FY27 FY28 FY29 FY30 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Chart shows indicative $5bn loan book portfolio trajectory at (Aug-28) illustrative originati
Slide 31: Outlook
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Slide 32: FY26 priorities for growth, profitability and efficiency
We are confident of achieving our FY26 priorities for growth, profitability and efficiency FY26 full year priorities Growth $3bn loan book by March 2026 in Horizon 1 with acceleration of origination growth into Horizon 2 Profitability Continue to drive meaningful Cash NPAT growth as we scale Efficie
Slide 33: Appendices
Plenti Appendices
Slide 34: Cash flow
Cash flow $m FY24 FY25 • Statutory operating cashflow in FY25 of $64.5m, compared with $39.2m in FY24 Operating cash flow • Movement in headline corporate cash balance of $4.0m, but excluding Interest income received 220.4 269.8 amounts relating to customer collection accounts, available corporate c
Slide 35: Balance sheet
Balance sheet $m 31-Mar-24 31-Mar-25 • Corporate cash position at 31 March 2025 of $48.8m Assets – $22.3m relates to loan collection accounts which are not available for corporate activities (31 March 2024: $24.0m) Cash and cash equivalents 148.9 176.4 • Total underlying corporate liquidity and Prov
Slide 36: Tax effect accounting
Tax effect accounting $m Current year income tax expense: Tax consolidated group profit before tax 10.2 • The profit before tax figure for the tax consolidated Current year tax Income tax expense at the statutory rate of 30% (3.0) group differs to the Group statutory profit before tax consolidated g
Slide 37: Available tax loss utilisation
Available tax loss utilisation FY23 FY24 FY25 FY26 Cash NPAT 4.5 6.1 13.8 Taxable income 2.5 7.0 17.0 Available tax losses – opening balance 46.6 44.1 37.1 20.1 Depending on FY26 result, could utilise most or all of remaining available tax losses / Closing balance 44.1 37.1 20.1 commence paying cash
Slide 38: Half-on-half summary P&L
Half-on-half summary P&L $m, 6 month periods 1H23 2H23 1H24 2H24 1H25 2H25 1H24 / 2H23 2H24 / 1H24 1H25 / 2H24 2H25 / 1H25 Interest revenue 63.2 78.9 95.9 111.2 121.9 132.6 22% 16% 10% 9% Other income 0.6 0.8 0.9 3.0 2.4 2.6 9% 251% (20)% 8% Total revenue pre transaction costs 63.8 79.7 96.8 114.2 1
Slide 39: Key metrics
Key metrics $m H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25 H2 FY25 FY23 FY24 FY25 Loan originations ($m) 558.2 572.8 624.1 577.2 626.7 790.2 1,131.0 1,201.3 1,416.9 Average term of new originations (months) 64.6 64.2 64.4 63.8 63.8 63.8 64.4 64.1 63.8 Closing loan portfolio ($m) 1,547.6 1,766.2 1,992.4
Slide 40: Lending vertical metrics
Lending vertical metrics $m H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25 H2 FY25 FY23 FY24 FY25 Loan originations ($m) 558.2 572.8 624.1 577.2 626.7 790.2 1,131.0 1,201.3 1,416.9 Automotive 302.3 269.3 327.6 296.5 320.4 388.6 571.7 624.2 709.0 Renewable energy 52.6 69.4 76.3 83.2 87.8 101.1 122.0 159.5 1
Slide 41: NPAT to Cash NPAT reconciliation
NPAT to Cash NPAT reconciliation $m 1H23 2H23 1H24 2H24 1H25 2H25 FY23 FY24 FY25 NPAT 2.6 (16.2) 0.6 (15.3) 0.9 23.8 (13.6) (14.7) 24.8 Add: ECL provision expense1 4.2 10.1 1.5 11.5 (1.7) 4.4 14.3 13.0 2.8 Add: Share-based payments 1.4 1.9 1.8 1.4 1.5 1.7 3.4 3.2 3.1 Add: Depreciation & amortisation
Slide 42: Disclaimer and important notices
Disclaimer and important notices No recommendation, offer, invitation or advice The material in this presentation is general background information about Plenti Group Limited (the Company) and its subsidiaries, and is current at the date of the presentation, 24 May 2023 The information in this prese
Slide 43: Plenti
Plenti