Capitec Bank Holdings Limited · JSE:CPI
Capitec Bank — Capitec Bank Hldgs — Q2 2027 Earnings Presentation
52 slides from Capitec Bank's earnings presentation, Sep 30, 2026
Slide 1: Interim Results
Interim Results 30 September 2026 Please send any questions to InvestorRelations@capitecbank.co.za
Slide 2: 1.6 million new clients chose Capitec
1.6 million new clients chose Capitec Our large active client base is our platform for scale and growth 26.6m Total active – up 7% Client breakdown • Personal: 25.7 million 16.5m Active on app – up 18% • Entrepreneurs: 237 000 • Businesses and Forex: 308 000 13.5m VAS – up 14% • • Merchants: 141 000
Slide 3: Differentiated client value drives growth
Differentiated client value drives growth Best Credit Card for travel • Zero international card fees International • Zero forex commission – best rates in the market travel spend • 1% cash back reward on all payments grows 24% to • Free travel insurance R2.4bn across 178 • Free domestic and internat
Slide 4: Our commitment to helping people grow
Our commitment to helping people grow Our founding philosophy To make a meaningful difference in people’s lives, empowering them to grow – we have always wanted to be the bank for 95% of South Africans Differentiated by clear and Our culture is our consistent fundamentals secret weapon • Simplicity
Slide 5: Building the most trusted brand
Building the most trusted brand Innovative use of AI and models to keep our clients safe Smarter fraud detection • AI identifies and categorises emerging fraud patterns • Emerging patterns detected earlier, enabling faster intervention Turning insight into action • Root - cause insights help priorit
Slide 6: Latest innovations keeping our clients safe
Latest innovations keeping our clients safe New New Coming soon Fi rst in SA S ecure Safe hides your Malware Alerts prevent Trusted Approver for high Scam Check screens links account on app dangerous apps value transactions and messages 6
Slide 7: The South African economy
The South African economy Formal market growth stumbles, emerging market resilient 2026 Q2 GDP Industry growth rates Electricity, gas & water 1.0% Emerging opportunities Construction 0.4% • Non - salary inflows continue to outpace salary growth, Agriculture 0.3% resilience in entrepreneurial and eme
Slide 8: The South African consumer
The South African consumer Client affordability faces new headwinds Inflation 43.2% Forward - looking risks 20.0% • Re - escalation of global conflict 12.5% 11.1% and global rate hikes 11.5% 4.1% • Risk of a severe El Niño event driving food inflation 0.7% 1.8% Aug 22 Aug 23 Aug 24 Aug 25 Aug 26 CPI
Slide 9: Our Capitec clients
Our Capitec clients Diversified demand across fully banked clients YoY change in average spend Capitec fully banked clients 4.4% Youth Diversified spending • Youth (<25) and lower income earners reducing discretionary Lower Income Earners spending • Higher income earners increasing spend on clothing
Slide 10: Growing beyond banking
Growing beyond banking Client Insights and Media Solutions Business Banking Leading Payment Provider Beyond Borders Personal Banking Emerging Markets Embedded Finance and… Most Trusted Brand Connect and Insure PROTECT AND GROW ACCELERATE INCUBATE THE FUTURE CEO Culture | AI, Data and Insights | Sing
Slide 11: Group results
Group results Growth driven by people, empowered through technology
Slide 12: Key indicators highlighting quality growth to R9.5 billion
Key indicators highlighting quality growth +7% Net interest income Non - interest income (incl. Transact, VAS +21% to R12.7 billion and Connect) to R16.1 billion Headline earnings +21% Credit impairments Funeral and Life cover +32% to R5.7 billion 8.4% +19% to R1.8 billion +5% Credit loss ratio to R
Slide 13: Capitec Group diversified earnings
Capitec Group diversified earnings 27% Insurance 37% Personal Banking R9.5 875 branches, 9 053 cash devices billion AvaFin 1% 29% 6% Fintech (VAS and Capitec Connect) Business Banking 20 business centres 13
Slide 14: Total expenses increased by 5% to R10.5 billion
Total expenses increased by 5% to R10.5 billion Cost - to- income ratio decreased from 40% to 36% Up 10% 3 972 3 604 Flat 3 200 3 202 Up 12% 2 284 2 041 568 Down 13% 456 1 137 387 466 987 1 197 1 251 Aug 25 Aug 26 Aug 25 Aug 26 Aug 25 Aug 26 Aug 25 Aug 26 Salaries (excl. IT salaries) Incentives IT e
Slide 15: Personal Banking
Personal Banking Serving 26 million clients
Slide 16: An entire ecosystem of value for R7.50
An entire ecosystem of value for R7.50 Main account with 2% interest 10 Free savings plans and Stokvel account Free Entrepreneur Account Free Capitec - to- Capitec Connect calls Rewards with no subscription fee or tiers Access to credit based on your needs Access to 875 branches, 9053 cash devices 1
Slide 17: Our multi-channel distribution advantage
Our multi - channel distribution advantage 14.0m One-to-one Branch clients Highlights Highlights • App and SST is preferred for 2.6m 4.3m • App and daily SST is needs banking preferred for daily banking needs 5.2m • One - to- one is preferred for new Branch + App • One - to- one products andis compl
Slide 18: Personal Banking income diversified
Personal Banking income diversified Net transaction income Lending income (R billion) (R billion) Up 18% Up 9% 11.3 11.4 10.5 1.2 9.7 9.6 1.0 0.8 3.8 0.9 0.7 8.3 0.6 2.9 2.0 9.4 8.8 8.2 7.5 6.3 6.7 Aug 24 Aug 25 Aug 26 Aug 24 Aug 25 Aug 26 Transact VAS & Capitec Connect Interest income Monthly fees
Slide 19: Transact
Transact Digital adoption continues to drive growth
Slide 20: Digital payment volume growth outpaces cash and card
Digital payment volume growth outpaces cash and card 3.7 billion card and digital payments – up 21% Cash volumes Card and digital volumes (million) (million) Up 21% 3 690 3 048 1 785 2 436 1 403 Up 8% 433 1 100 400 362 96 123 67 1 905 1 645 295 304 310 1 336 Aug 24 Aug 25 Aug 26 Aug 24 Aug 25 Aug 26
Slide 21: E-commerce and pay wallets lead growth
E - commerce and pay wallets lead growth Physical card Value: R325 billion +18% E - commerce Value: R85 billion +33% (2025: R287 billion) 404 million transactions 1.4 billion transactions (2025: R62 billion) (incl. Capitec Pay) Pay wallets Value: R52 billion +66% VAS Value: R110 billion +26% (2025:
Slide 22: Credit
Credit Prudent management for long - term sustainability
Slide 23: Increased applications and disciplined granting
Increased applications and disciplined granting Monthly loan disbursements R38.0bn FY27H1 Highlights R31.8bn • Applications up 21% via FY26H1 improved personalised offers and client engagement • Disbursements up 20% with R24.1bn continuous risk management (over FY25H1 1 500 micro - refinements) • Se
Slide 24: Improved granting unlocks growth
Improved granting unlocks growth Recognising multiple income streams Digital self - service Clients earning over R50 000 pm Gig economy and emerging markets Scaling personalised in- app offers Value and simplicity driving growth Up 183% 1 530 Up 100% Up 58% 8 739 1 374 R million 5 534 R million R mi
Slide 25: Prudent portfolio performance
Prudent portfolio performance 9.2% 8.1% 0.7% 4.0% 4.0% Highlights • CLR increased to 9.2% mainly due to forward - looking (FLI) overlay • Portfolio performance resilient 4.5% with NPL stable at 19.6% (20.7% 4.2% in Aug 25) • Additional 0.7% FLI provision charge reflects a prudent risk Aug 25 Aug 26
Slide 26: Personal credit book now exceeds R100 billion
Personal credit book now exceeds R100 billion R101.7bn 5.0 17.9 Personal credit book • Facilities now 39% of book R66.3bn • Continued growth in purpose 21.8 lending to R5bn 6.5 9.3 Home loan growth • Additional R1.5bn funded 57.3 through SPV since Dec 25 50.5 • 27% increase in registrations in the l
Slide 27: Capitec Connect
Capitec Connect [[[[ Challenging convention and creating more value for millions of clients
Slide 28: Capitec Connect net income up 72% to R284 million
Capitec Connect net income up 72% to R284 million Data usage Minute usage (Million gigabytes) (Millions) Up 130% Up 84% 34 573 Highlights • 1.8 million clients active in the last 3 months – up 64% 311 • 70 million minutes Free 15 Capitec - to- Capitec calling • 4.2 million gigabytes of free data (20
Slide 29: Capitec Connect devices
Capitec Connect devices 27 000 devices sold in the past 6 months New • Order on the app or in branch, delivered in 3 days • Access to premium Apple and Samsung devices • Monthly payments from R181 with zero deposit • Free 5GB data bundles for a year, worth R1 200 29
Slide 30: Savings
Savings Supporting everyday and long - term savings needs
Slide 31: R170 billion in deposits demonstrates trust
R170 billion in deposits demonstrates trust Personal Banking deposits (R billion) 170 157 141 Savings Plans 119 70% up R13 billion 106 68% 87 62% 54 51 51 Main Account Aug 24 Aug 25 Aug 26 31
Slide 32: Notice Deposits grow to 12% of total deposit book
Notice Deposits grow to 12% of total deposit book 7- day Notice Deposit balances 32 - day Notice Deposit balances (R billion) (R billion) Up 59% 13.4 Highlights Up 75% • Interest rates from 4% to 7.25% 8.2 • Notice Deposit Savings represents 7.7 12% of Personal Banking deposits (2025: 6%) • R620 mil
Slide 33: New Stokvel account for community savings
New Stokvel account for community savings More than 11 million people save through over 800 000 stokvels in SA worth R50 billion in value Launched on 10 September 2026 33
Slide 34: Insurance
Insurance Continued focus on improving efficiency and scale
Slide 35: Capitec Cover designed to meet our clients needs
Capitec Cover designed to meet our clients needs • Competitive price delivering value from day one • Premiums never increase giving you certainty • No double debiting of premiums • Client benefits over the past 6 months: • 60 000 funerals covered • R3.2 billion paid in claims • Competitive pricing s
Slide 36: Funeral Cover
Funeral Cover Lives assured increased by 8% to 17.1 million In- force sum assured (R billion) Up 10% 529 481 Highlights • 49% of policies on our own 405 licence (1.9 million) • Improved claims ratio to 44.2% (2025: 46.2%) • Collections ratio maintained at 90% Aug 24 Aug 25 Aug 26 36
Slide 37: Life Cover
Life Cover Growing access to meaningful protection In- force sum assured (R billion) Up 75% 126 Lump sum 51% 72 Life Cover benefit payouts C hil Needs - based e om dr i nc ’s en ly 22 ne th 26% ed s Mon 23% Aug 24 Aug 25 Aug 26 37
Slide 38: Funeral and Life Cover net insurance result
Funeral and Life Cover net insurance result 32% growth year - on- year 66 (22) 221 (38) 1 796 Cell investment Proactive Impact of yield returns and tax claims Life curve movements cover impact and reinsurance 205 Funeral cover claims experience 1 364 Book growth Aug 25 Aug 26 Up 28% 38
Slide 39: Building better Cover through continued investment
Building better Cover through continued investment Better claims process • 80% of claims paid out in 24 hours Better products and pricing • New pricing provides better value cover • Voluntary Premium Pause for payment flexibility • App features updated for easier arrears management Better risk manag
Slide 40: Business Banking
Business Banking Empowering businesses with more affordable banking, better service and faster credit
Slide 41: We exist to help grow SMEs, grow employment and grow the economy
We exist to help grow SMEs, grow employment and grow the economy Simplicity | Affordability | Accessibility | Personalised experience 41
Slide 42: Our Business Banking flywheel is yielding results
Our Business Banking flywheel is yielding results Improve client experience Lower pricing and reduce cost and unique of banking offering More revenue More clients More lending and cross More selling data 42
Slide 43: What we have built
What we have built Website Remote and App and Debit and Digital wallets assisted onboarding online banking Credit C ard ordering Intuitive Scored Pay - As - You - Trade Scored Savings and New credit Overdraft credit VAF investment accounts card machines New Replatform to Business centres Relationshi
Slide 44: Saved businesses R548 million since March 2024
Saved businesses R548 million since March 2024 Simple and transparent fees and merchant commission R50 Monthly fee R1 R2 Capitec to Payment to Capitec payment other banks R3 R6 Debit order Immediate payment to any bank R10 Free Cash withdrawals Online banking (per R1 000) at any and card payments ba
Slide 45: Business clients increase 123% to 545 000
Business clients increase 123% to 545 000 Up 123% 545 000 237 000 Highlights Client migration • Entrepreneurs up 204% since 41 000 to GlobalBiz 244 000 February 2026 198 000 62 000 • Business Banking app clients up 51% 82 000 267 000 Businesses up 47% 182 000 116 000 Aug 24 Aug 25 Aug 26 Businesses
Slide 46: Leading merchant solutions
Leading merchant solutions Trading merchants Aug 26: 141k YTD Merchant turnover: R61.8bn Highlights Aug 25: 85k YTD Merchant • Added 56 000 net new turnover: R42.4bn merchants in the past year • 44.0 million transactions in Aug 26 set new monthly record (Dec 25: 42.8 million) Aug 24: 32k YTD Merchan
Slide 47: Total gross book up 37% to R35.5 billion (incl. CRF)
Total gross book up 37% to R35.5 billion (incl. CRF) Gross loan balances (R billion) Up 37% 35.5 4.2 Up 175% Highlights 26.0 • Scored lending comprises 12% of 1.5 the total Business Banking book • Scored loan disbursements were 21.1 31.3 Up 29% up 76% to R1.9 billion 24.5 20.4 Aug 24 Aug 25 Aug 26 I
Slide 48: Credit loss ratio increase due to scored lending
Credit loss ratio increase due to scored lending Prudent management within risk appetite 3.4% 0.5% 2.1% 0.8% Highlights • Intuitive lending book CLR 0.5% 0.6% remained stable at 1.7% • Growth in Scored lending drove increase in CLR 1.5% 1.5% • Pay - As - You- Trade launched in December 2025 contribu
Slide 49: Enterprise payments
Enterprise payments Capitec Pay - ins Value: R42 billion +37% New (2025: R31 billion) 178 million transactions Variable recurring payments Value: R705 million 1.9 million transactions POS transactions Value: R62 billion +60% New (2025: R42 billion) 239 million transactions Capitec Pay International
Slide 50: Business Banking headline earnings up 52%
Business Banking headline earnings up 52% Headline earnings (R million) 609 Highlights 402 353 • Interest income on lending up 34% to R1.9 billion • Net transaction income up 38% to R1.0 billion Aug 24 Aug 25 Aug 26 50
Slide 51: Market share shows runway for growth
Market share shows runway for growth 5% 3% 2% Business Banking Business credit Business deposits Headline earnings Secured and unsecured Call, Current, Notice and lending other savings accounts 51
Slide 52: Thank you
Thank you Please send any questions to InvestorRelations@capitecbank.co.za 52