Frontier Digital Ventures Ltd. · ASX:FDV
Frontier Digital Ventures — H1 2026 Earnings Presentation
35 slides from Frontier Digital Ventures's earnings presentation, Sep 23, 2026
Slide 1: Leading online classifieds marketplaces in emerging regions
Leading online classifieds marketplaces in emerging regions 1H 2026 Results Presentation ASX: FDV | 23 September 2026
Slide 2: Contents
CONTENTS 1. FDV Overview 3 2. 1H FY2026 Group Financial Results 10 3. Operational Highlights by Region 16 4. Additional Information 31 2
Slide 3: FDV Overview
FDV Overview 3
Slide 4: About FDV
ABOUT FDV Online classifieds marketplaces in emerging regions LATAM Proven classifieds marketplace model 100% ownership Classifieds marketplaces play a central role in formalising markets, with FDV focusing on high value consumer goods – property and automotive. Classifieds have been some of the mos
Slide 5: Executive Directors
Executive Directors Patrick Grove, Non-Independent, Executive Director Lucas Elliott, Non-Independent, Executive Director Patrick joined FDV as a Director on 10 April 2025, became Chairman on 3 June 2025, and Executive Luke joined FDV as a Director on 10 April 2025 and became Executive Chairman on 2
Slide 6: Senior Management
Senior Management Shiao Chan, Chief Financial Officer Ricardo Frechou, Chief Executive Officer LATAM Zakaria Ghassouli, General Manager Morocco Shiao rejoined FDV as CFO in August 2025, having held the Ricardo Frechou is the current CEO of Latam, overseeing the Zakaria Ghassouli is a founding team m
Slide 7: Non-Executive Directors
Non-Executive Directors Nikki Warburton, Independent, Non-Executive Director Joe Dische, Independent, Non-Executive Director Phillip Hains, Independent, Non-Executive Director Nikki joined FDV as Independent Non-Executive Director on 4th Joe joined FDV as a Director on 1 September 2025. He is Chair
Slide 8: FDV Strategic Priorities
FDV STRATEGIC PRIORITIES Core business focus Margin expansion Mergers & acquisitions Core business at the Price optimisation and Accretive M&A centre of growth cost control opportunities ▪ Focus on fundamentals ▪ Operational and ▪ Bolt-on deals in existing of high-margin organisational discipline ma
Slide 9: FDV's North Star - 1H 2026 Progress
FDV’s NORTH STAR - 1H 2026 PROGRESS TARGET Expand EBITDA margin to >40% ▪ 1H 2025 10% margin ▪ YE 2025 10% margin ▪ 1H 2026 17% margin (+7ppt on pcp) TARGET Increase take rate ▪ YE 2025 <1% average take rate1 ▪ 1H 2026 little change, indicating substantial headroom for revenue growth through price o
Slide 10: 1H 2026 Group Financial Results
1H 2026 Group Financial Results 10
Slide 11: 1H 2026 Group Financial Highlights
1H 2026 GROUP FINANCIAL HIGHLIGHTS Statutory revenue decreased due to termination of non-core, low-margin, loss making revenue lines and businesses Statutory revenue Statutory EBITDA EBITDA incl. Associates US$14.4m US$2.4m US$3.6m -27% in 1H 2026 +18% in 1H 2026 +13% in 1H 2026 Cash balance Free Ca
Slide 12: Financial Profile
FINANCIAL PROFILE EBITDA growth driven by rationalisation of operations and cost base Group Operating Revenue (US$m) Group Operating EBITDA (US$m) EBITDA inc. Statutory revenue Statutory EBITDA Associates 45.1 45.5 35.3 22.2 3.5 3.6 24.0 3.2 Share of EBITDA 15.5 1.2 from 2.4 1.5 1.2 Associates 1.8 1
Slide 13: Revenue Breakdown
REVENUE BREAKDOWN Statutory revenue breakdown (US$m) LATAM ▪ $9.6m in LATAM revenue in 1H 2026, a 35% decrease from 1H 2025 related to termination of non-core, low-margin, loss making revenue 19.7 lines and businesses. Reduction is a result of proactive strategic decisions in 2H 2025. 1.7 ▪ Customer
Slide 14: Operating Expenses Breakdown
OPERATING EXPENSES BREAKDOWN Group operating expenses Statutory operating expenses breakdown ▪ $12.0m total group expenses in 1H 2026 , a 32% decrease from 1H (US$m) 2025 as a result of cost reduction initiatives and termination of non- core, low-margin, loss-making revenue lines. 1H 2025 1H 2026 Em
Slide 15: EBITDA Breakdown
EBITDA BREAKDOWN 18% increase in statutory EBITDA Group Operating EBITDA and Margin Group statutory EBITDA ($m) Statutory EBITDA of $2.4m in 1H 2026, increasing 18% from $2.0m in +13% 1H 2025, including: 3.6 on pcp 3.2 ▪ Latin American entities EBITDA of $3.1m, increasing 37% on pcp Share of +18% EB
Slide 16: Operational Highlights by Region
Operational Highlights by Region 16
Slide 17: LATAM Update
LATAM LATAM UPDATE Revenue EBITDA and margin Revenue by category (US$m) (US$m) Events, 3% Transactions1, 3% 3.5 +37% $3.1 Advertising, 3% $14.8 3.0 vs pcp 0.3 Yapo 2.5 $2.3 0.9 Encuentra24 32% $9.6 2.0 margin -35% InfoCasas 1.5 $0.5 vs pcp Classifieds, 1.0 15% Fincaraiz 91% margin 1.4 0.5 0.0 1H 202
Slide 18: Fincaraiz Update
LATAM FINCARAIZ UPDATE Revenue EBITDA Free cash flow1 (US$m) (US$m) (US$m) $1.1 $4.8 1.6 80% +76% $1.4 +678% 0.9 $3.7 1.4 vs pcp 70% vs pcp -22% vs pcp 0.0 1.2 60% 0.6 0.2 0.6 0.8 1.0 $0.8 37% 50% 76% 0.8 40% 0.6 30% $0.1 16% 2.7 2.7 0.4 20% 0.2 10% 17% 0.0 0% 1H 2025 1H 2026 1H 2025 1H 2026 1H 2025
Slide 19: Fincaraiz Update
LATAM FINCARAIZ UPDATE 1H 2026 Classifieds business PCP growth summary Classifieds revenue by vertical Commentary Revenue Customer1 ARPU2 • Classified revenue grew on pricing, following successful experimentation in dynamic pricing Agents +3% -7% +10% 21% Agents • Average number of monthly customers
Slide 20: InfoCasas Update
LATAM INFOCASAS UPDATE Revenue EBITDA Free cash flow1 (US$m) (US$m) (US$m) $3.2 0.6 -55% vs pcp $0.5 1.9 0.5 $0.5 $0.4 +163% $1.4 0.4 $0.3 vs pcp +226% 0.1 vs pcp 1H 2025 78% 0.2 0.1 0.3 $0.1 0.1 0.1 32% -$0.1 1H 2025 1H 2026 0.1 0.2 $0.1 -$0.3 0.9 1.1 -406% -$0.5 0.1 4% -$0.7 1H 2025 1H 2026 -$0.6
Slide 21: InfoCasas Update
LATAM INFOCASAS UPDATE 1H 2026 Classifieds business PCP growth summary Classifieds revenue by vertical Commentary Revenue Customer1 ARPU2 • Classifieds revenue growth was primarily driven by ARPU growth Agents 8% following the price increase from +21% -4% +26% 8% Agents rebundling exercise. Develope
Slide 22: Encuentra24 Update
LATAM ENCUENTRA 24 UPDATE Revenue EBITDA Free cash flow1 (US$m) (US$m) (US$m) 5.0 $4.3 -15% 4.5 0.2 vs pcp 1.2 $1.1 80% $1.6 -30% 200% 4.0 0.1 $1.4 70% vs pcp 3.5 0.5 $3.0 1.0 $0.9 $1.4 180% -30% 60% 160% 0.1 $1.2 3.0 1.3 vs pcp 0.1 0.8 50% $1.0 140% 2.5 $1.0 120% 1.0 0.6 30% 40% $0.8 130% 100% 2.0
Slide 23: Encuentra24 Update
LATAM ENCUENTRA 24 UPDATE 1H 2026 Classifieds business PCP growth summary Classifieds revenue by vertical Commentary Revenue Customer1 ARPU2 1% • Fall in customers following price rises and rebundling of packages Agents Agents (Real Estate) -16% -20% +4% • Freemium pricing for private seller Dealers
Slide 24: Yapo Update
LATAM YAPO UPDATE Revenue EBITDA Free cash flow1 (US$m) (US$m) (US$m) $2.5 0.4 $0.3 40% $0.2 +28% $200k 80% 0.7 0.3 vs pcp 35% $0.3 $150k 60% 0.3 30% 0.2 $1.4 23% 40% -43% 25%$100k 56% 0.1 0.2 20% 0.8 vs pcp 20%$50k 0.6 0.2 10% 15% 1H 2025 0% 0.1 10% $0k -20% 0.8 -28% 1H 2025 1H 2026 0.7 0.1 5% -$50
Slide 25: Yapo Update
LATAM YAPO UPDATE 1H 2026 Classifieds business PCP growth summary Classifieds revenue by vertical Commentary • Classifieds revenue decrease Revenue Customer1 ARPU2 4% due to lower paying customers Agents (Real Estate) across agents and private seller +3% -14% +20% Agents segments. 36% Dealers Privat
Slide 26: Morocco Update
MOROCCO MOROCCO UPDATE Revenue EBITDA and margin (US$m) Revenue by category (US$m) -1% 0.7 $3.2 vs pcp $3.2 Transactions1,1% +63% $0.6 0.6 vs pcp Events, 14% 0.5 0.4 $0.4 Advertising, 0.3 18% 21% 11% margin 0.2 margin 0.1 Classifieds, 64% 0.0 1H 2025 2 1H 2026 1H 2025 1H 2026 • Revenue of US$3.2m wa
Slide 27: Avito Group Update
MOROCCO AVITO GROUP UPDATE Revenue EBITDA Free cash flow1 (US$m) (US$m) (US$m) $0.7 -19% $3.0 $3.1 0.7 30% 0.5 $0.5 vs pcp 200% 0.5 0.6 +96% 0.5 25% 180% 0.5 +2% vs pcp 22% $0.4 0.4 160% vs pcp 0.5 0.7 0.7 20% 0.4 140% 0.4 $0.3 0.3 138% 120% 0.5 0.5 15% 0.3 100% 0.3 0.2 57% 80% 0.2 11% 10% 0.2 60% 1
Slide 28: Avito Group Update
MOROCCO AVITO GROUP UPDATE 1H 2026 Classifieds business PCP growth summary Classifieds revenue by vertical Commentary Revenue Customer1 ARPU2 • Classifieds revenue increased 7% on pcp mainly driven by growth in new Agents (Real Estate) Agents -5% -13% +9% 7% development projects and higher ARPU 16%
Slide 29: Asia Update
ASIA ASIA UPDATE Revenue EBITDA and margin Revenue by category (US$m) (US$m) 1.8 $1.7 $1.6 1.6 $146k 0.3 -5% 1.4 0.3 vs pcp Classifieds, 24% 1.2 1.0 -35% $96k Transactions1, 0.9 0.7 vs pcp 51% 0.8 9% 0.6 margin 6% margin LankaPropertyWeb 47 K 0.4 Advertising, 12% 0.5 0.6 0.2 0.0 42 K Autodeal 1H 202
Slide 30: Pakistan Update
ASSOCIATES PAKISTAN UPDATE Revenue EBITDA and margin Revenue by category (US$m) (US$m) +25% +25% 6.0 margin margin +8% $5.1 1.4 +5% $1.3 5.0 $4.7 vs pcp $1.2 1.2 vs pcp 0.9 1.3 0.4 Classifieds, 38% 4.0 1.0 0.3 3.0 0.8 Transactions1, 0.6 56% 2.0 3.8 3.8 0.9 0.9 0.4 1.0 0.2 0.0 Advertising, 4% 0.0 1H
Slide 31: Additional Information
Additional information 31
Slide 32: Statutory Revenue by Brand
STATUTORY REVENUE BY BRAND 1H 2026 Restated 1H 2025 Growth Accounting treatment USD USD (%) LATAM 9,629,055 14,832,988 (35%) InfoCasas Consolidated 1,448,666 3,228,367 (55%) Fincaraíz Consolidated 3,745,365 4,828,627 (22%) Encuentra24 Consolidated 3,040,987 4,323,118 (30%) Yapo Consolidated 1,394,03
Slide 33: Statutory EBITDA by Brand
STATUTORY EBITDA BY BRAND 1H 2026 EBITDA & margin 1H 2025 EBITDA & margin EBITDA Change (absolute terms) Accounting treatment USD % USD % USD LATAM 3,099,919 32% 2,267,958 15% 831,961 InfoCasas Consolidated 464,295 32% 142,584 4% 321,711 Fincaraíz Consolidated 1,399,335 37% 796,472 16% 602,863 Encue
Slide 34: 1H 2026 Summary Results
1H 2026 SUMMARY RESULTS (Restated) Change 1H 2026 1H 2025 Summary of core operating results from continuing USD’000 USD’000 USD’000 % 1. Group statutory revenue: $14.4m statutory revenue in 1H 2026, operations decreased 27% on 1H 2025, due to the cessation of loss making and 1 Group Statutory Revenu
Slide 35: Contact Us
CONTACT US PRINCIPAL OFFICE T03/L01, Menara TH Uptown, No.3, Jalan SS21/39, Damansara Utama, 47400 Petaling Jaya, Malaysia www.frontierdv.com www.frontierdv.com ABOUT FDV This announcement is authorised for release by the Board of Frontier Digital Ventures (FDV) is a leading owner and operator of on
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