Slide 1: FY26 Investor Presentation
FY26 Investor Presentation 25 August 2026 Mike Emmett CEO and Managing Director Nick Dryden CFO
Slide 2: AUB Group 2026: More Than a Broker
AUB GROUP 2026: MORE THAN A BROKER A global insurance distribution platform combining local entrepreneurship with collective scale “ What Makes AUB Different Combining scaled distribution, owner-led businesses and broader insurance capabilities to create enduring value “ AUB is more than a broker SC
Slide 3: AUB Transformation: FY19 to FY26
AUB TRANSFORMATION: FY19 TO FY26 Seven years of deliberate transformation have built a larger, stronger and more valuable AUB Group FY20 FY21 FY22 FY23 FY24 FY25 FY26 Portfolio Refocused and Broker Network Optimisation Scaled Agencies Platform Wholesale Capability Added Enhanced Global Platform Scal
Slide 4: Margin: Delivered Uplift, Clear Ambition Ahead
MARGIN: DELIVERED UPLIFT, CLEAR AMBITION AHEAD AUB Group EBIT Margin has expanded by 920bps since FY19 with strong runway ahead Structural margin expansion has supported UNPAT growth 01 What delivered the uplift FY26 Margin uplift reflects a deliberate mix of portfolio, platform and operating discip
Slide 5: Group Performance
Group Performance
Slide 6: FY26 Performance Overview
FY26 PERFORMANCE OVERVIEW Continued delivery of strong UNPAT growth and margin expansion FY26 GROUP PERFORMANCE Strong UNPAT growth of 12.2% to $224.6m and 140bps margin expansion to 36.1% DIVISIONAL PERFORMANCE International Division delivered Underlying PBT Growth of 19.6% Strong Underlying PBT gr
Slide 7: FY26 Financial Highlights
FY26 FINANCIAL HIGHLIGHTS Revenue growth and margin expansion delivering increased profits for AUB shareholders FY26 FY25 Performance Highlights Revenue1 $1,596.6m $1,501.3m ▪ Revenue growth in all business divisions (excluding the impact of FX) +6.4% EBIT Margin1 36.1% 34.7% ▪ Margin increased acro
Slide 8: FY26 Financial Performance
FY26 FINANCIAL PERFORMANCE Underlying NPAT increased 12.2%, driven by 10.8% organic growth and 8.6% acquisition contribution. FX and Funding costs reduced growth by 7.2% FY25 to FY26 Underlying NPAT1 Bridge ($m) 12.2% 17.3 14.5 224.6 (7.2%) 8.6% 21.6 • FX -$9.5m • Funding Costs -$5.0m 200.2 10.8% FY
Slide 9: Divisional Performance
Divisional Performance
Slide 10: FY26 Divisional Performance
FY26 DIVISIONAL PERFORMANCE Strong profit growth in BizCover, International, Australian Broking and Agencies, muted by weakness in New Zealand A/NZ Retail3 for future reporting disclosures Vs. FY25 AUSTRALIAN OPERATING comparative BIZCOVER NEW ZEALAND A/NZ RETAIL3 AGENCIES INTERNATIONAL5 period BROK
Slide 11: Australian Broking
AUSTRALIAN BROKING EBIT Growth of 6.8% as revenue continued to outpace expenses despite lower interest income Medium-Term Key Metrics $647.8m Revenue1 38.1% EBIT Margin1 $246.7m EBIT1 Margin Target FY26 Performance +6.0% on FY25 +30bps on FY25 +6.8% on FY25 40% Australian Broking Revenue1: FY19-FY26
Slide 12: BizCover
BIZCOVER BizCover delivered 19% EBIT growth as customer scale and international improvement expanded margins Medium-Term Key Metrics $120.7m Revenue1 47.8% EBIT Margin1 $57.7m EBIT1 Margin Target FY26 Performance +14.0% on FY25 +200bps on FY25 +19.0% on FY25 50% EBIT Australia ($m)1 Australian Activ
Slide 13: New Zealand
NEW ZEALAND NZD PBT increased by 2.7% while reported AUD PBT declined 3.9% following adverse FX movements Medium-Term Key Metrics NZD 107.9m Revenue1 33.1% EBIT Margin1 NZD 35.7m EBIT1 Margin Target FY26 Performance +0.8% on FY25 -130bps on FY25 -3.1% on FY25 42% FY26 Local Currency PBT Bridge (NZD
Slide 14: Agencies
AGENCIES Agencies delivered 8.4% PBT growth as Specialty and acquisitions offset a very competitive Strata market Medium-Term Key Metrics $240.9m Revenue1 43.7% EBIT Margin1 $105.2m EBIT1 Margin Target FY26 46.5% EBIT Margin Ex. Strata Performance +9.2% on FY25 -50bps on FY25 +7.8% on FY25 47% 42% +
Slide 15: International
INTERNATIONAL2 International EBIT increased 24.5%, with margin expanding 410bps to 27.6%, benefiting from elevated war rates and negatively impacted by FX movements Medium-Term Key Metrics $494.9m Revenue1 27.6% EBIT Margin1 $136.4m EBIT1 Margin Target FY26 Performance +6.2% on FY25 +410bps on FY25
Slide 16: Group Funding, FX & Shareholder Returns
Group Funding, FX & Shareholder Returns
Slide 17: Group Funding
GROUP FUNDING $330.5m of liquidity and long-dated facilities preserve capacity to fund growth Debt Funding Interest Earning Assets vs Look through share of $330.5m Debt at 30 Jun’26 ($m) Corporate Liquidity • $200m Macquarie bilateral facility 30 Jun’26 established to support the Prestige AUB look-t
Slide 18: FY27 Indicative International Revenue and Expense Currency Mix
FY27 INDICATIVE INTERNATIONAL REVENUE AND EXPENSE CURRENCY MIX FX hedging reduces the earnings impact to the International Division of the mismatch between USD revenue and GBP cost FY27 Indicative International Revenue and Expense Currency Mix1 Operational Hedging Revenue Earned ▪ Monthly FX hedging
Slide 19: EPS and Dividends
EPS AND DIVIDENDS Underlying EPS grew by 7% and DPS by 7.7% Underlying EPS1 (Cents) +17.4% CAGR 9.5% 7.0% 21.2% 33.7% 171.75 183.69 156.78 129.32 96.70 FY22 FY23 FY24 FY25 FY26 Dividend Per Share (Cents) +15.5% CAGR 7.7% 15.2% 23.4% 98.0 16.4% 91.0 79.0 64.0 55.0 66.0 71.0 59.0 38.0 47.0 17.0 17.0 2
Slide 20: Ambition, AI & Outlook
Ambition, AI & Outlook
Slide 21: FY27 Execution Priorities
FY27 EXECUTION PRIORITIES Executing against the next phase of AUB's growth agenda through integration, optimisation and disciplined capital deployment 01 02 03 Integrate and scale Improve portfolio Compound through International performance capital and capability Complete UK Retail integration Accel
Slide 22: AI Strategy: Foundations to Impact
AI STRATEGY: FOUNDATIONS TO IMPACT AUB has established the platform, governance and delivery capability to scale AI across the Group. The focus is now embedding AI into broker, underwriting and claims workflows WHAT WE ARE DOING & HOW WE ARE DOING IT 01 FOUNDATIONS | AUB IS WELL-POSITIONED 02 DELIVE
Slide 23: FY27 Outlook
FY27 OUTLOOK FY27 Underlying NPAT guidance of $245m–$265m implies continued earnings growth of 9.1% - 18.0% over FY26 (13.5% growth at the midpoint of $255m) FY27 Underlying NPAT1 Guidance Bridge $m Scope and Assumptions 9.1% - 18.0% Includes contributions from completed or known and highly certain
Slide 24: Questions?
Questions? Mike Emmett CEO and Managing Director Nick Dryden CFO
Slide 25: Closing
Closing Mike Emmett CEO and Managing Director
Slide 26: Appendices
APPENDICES A FY26 Detailed Financial Results Appendices B AUB Group Business Overview C AUB Group Portfolio Overview 26
Slide 27: A. FY26 – Detailed Financial Results
Appendices A. FY26 – Detailed Financial Results
Slide 28: FY26 Divisional Performance Breakdown
FY26 DIVISIONAL PERFORMANCE BREAKDOWN FY25 to FY26 Underlying NPAT1 ($m) 12.2% 12.8 31.8 14.0 4.5 224.6 0.6 6.0 3.8 13.5 200.2 Pre-Tax FY25 Australian BizCover Agencies New Zealand International FX3 Net Corporate Tax FY26 Broking Broking ex FX ex FX2 Result4 1. Underlying Net Profit After Tax is the
Slide 29: Australian Broking
AUSTRALIAN BROKING Profit contribution to AUB Group – Pre-tax ▪ Underlying pre-tax profit increased 10.0% to $149.1m (FY25: $135.6m) FY26 FY25 Movement Movement (%) ($m) Commission and fee income (net) 571.0 529.5 41.5 7.8% ▪ These increases were driven by organic and bolt-on acquisition growth Prem
Slide 30: BizCover
BIZCOVER Profit contribution to AUB Group – Pre-tax ▪ Revenue up 14.0% from FY25 FY26 FY25 Movement Movement (%) ($m) ▪ Underlying pre-tax profit increased 19.9% to $22.9m (FY25: $19.1m) Revenue1 120.7 105.8 14.9 14.0% Expenses1 (63.0) (57.4) (5.6) 9.8% ▪ Continued organic revenue growth and margin
Slide 31: New Zealand Broking
NEW ZEALAND BROKING Profit contribution to AUB Group – Pre-tax ▪ Underlying pre-tax profit increased 2.7% to NZD 26.1m (FY25: NZD 25.4m), FY26 FY25 Movement Movement (%) (NZD m) however in AUD decreased by 3.9% to $22.3m (FY25: $23.2m). Commission and fee income (net) 99.8 97.2 2.6 2.7% Premium Fund
Slide 32: A/NZ Retail
A/NZ Retail5 Profit contribution to AUB Group – Pre-tax ▪ Underlying pre-tax profit increased 9.2% to $194.4m (FY25: $177.9m) FY26 FY25 Movement Movement (%) ($m) Commission and fee income (net) 777.0 724.1 52.9 7.3% ▪ EBIT Margin of 38.9% up 50bps from FY25 Premium Funding 34.7 34.6 0.1 0.3% Intere
Slide 33: Agencies
AGENCIES Profit contribution to AUB Group – Pre-tax ▪ Underlying pre-tax profit increased by 8.4% to $78.0m (FY25: $72.0m) FY26 FY25 Movement Movement (%) ($m) Commission and fee income (net) 202.4 193.6 8.8 4.5% ▪ Organic growth in gross written premium (GWP) across most agencies, partially Interes
Slide 34: International
INTERNATIONAL2 Profit contribution to AUB Group – Pre-tax ▪ Underlying pre-tax profit increased 19.6% to $124.5m (FY25: $104.1m) FY26 FY25 Movement Movement (%) ($m) Commission and fee income (net) 459.2 424.5 34.6 8.2% ▪ Profit growth in Tysers supported by robust revenue growth in key segments of
Slide 35: Balance Sheet and Capital Position
BALANCE SHEET AND CAPITAL POSITION Consolidated Balance Sheet Overview ($m) FY26 FY25 Movement Cash – incl subs 250.6 279.3 (28.7) Cash – Trust Accounts 1,062.1 1,063.4 (1.3) Leverage Ratio 30 Jun’26 Investment in Associates 321.2 301.9 19.3 2.30x Intangible assets and goodwill 2,872.1 2,601.7 270.4
Slide 36: A1.0 Reconciliation of Reported NPAT to Underlying NPAT
A1.0 RECONCILIATION OF REPORTED NPAT TO UNDERLYING NPAT1 FY26 FY25 Movement ($’000) ($’000) ($’000) Net Profit after tax attributable to equity holders of the parent 96,048 180,055 (84,007) Add back/(less): (net of NCI and income tax) Amortisation of customer and servicing contracts7 48,783 45,605 3
Slide 37: A2.1 Management Presentation of Results
A2.1 MANAGEMENT PRESENTATION OF RESULTS1,3 FY26 ($’000) FY25 ($’000) Movement ($’000) Movement (%) Australian Broking revenue 647,786 611,117 36,669 6.0% Australian Broking expenses (401,068) (380,115) (20,953) 5.5% EBIT - Australian Broking 246,718 231,002 15,716 6.8% International revenue2 494,899
Slide 38: A2.2 Management Presentation of Results
A2.2 MANAGEMENT PRESENTATION OF RESULTS1 FY26 ($’000) FY25 ($’000) Movement ($’000) Movement (%) Australian Broking revenue 647,786 611,117 36,669 6.0% Australian Broking expenses (411,105) (388,760) (22,345) 5.7% Net profit - Australian Broking 236,681 222,357 14,324 6.4% Profit attributable to oth
Slide 39: A2.3 Management Presentation of Results
A2.3 MANAGEMENT PRESENTATION OF RESULTS1,3 FY26 ($’000) 2H26 ($’000) 1H26 ($’000) FY25 ($’000) 2H25 ($’000) 1H25 ($’000) FY24 ($’000) 2H24 ($’000) 1H24 ($’000) FY23 ($’000) 2H23 ($’000) 1H23 ($’000) FY22 ($’000) 2H22 ($’000) 1H22 ($’000) Australian Broking revenue 647,786 325,468 322,318 611,117 308
Slide 40: A2.4 Management Presentation of Results
A2.4 MANAGEMENT PRESENTATION OF RESULTS1 FY26 ($’000) 2H26 ($’000) 1H26 ($’000) FY25 ($’000) 2H25 ($’000) 1H25 ($’000) FY24 ($’000) 2H24 ($’000) 1H24 ($’000) FY23 ($’000) 2H23 ($’000) 1H23 ($’000) FY22 ($’000) 2H22 ($’000) 1H22 ($’000) Australian Broking revenue 647,786 325,468 322,318 611,117 308,4
Slide 41: A3.0 Consolidated Cash Flow Statement
A3.0 CONSOLIDATED CASH FLOW STATEMENT FY26 FY25 ($’000) ($’000) Cash flows from operations 184,570 274,815 Cash flows from investing activities Acquisitions and portfolio purchases (423,281) (229,993) Sales proceeds (net of cash reduced on deconsolidation) 3,628 4,243 Plant equipment / Other (8,542)
Slide 42: B. AUB Group Business Overview
Appendices B. AUB Group Business Overview
Slide 43: AUB Group – An Overview
AUB GROUP – AN OVERVIEW AUB Group Limited is an ASX200 listed group comprising insurance brokers and underwriting agencies, helping our clients to safeguard a stronger, protected future ▪ Full complement of services and technology supporting the Austbrokers AUSTRALIAN network of 37 brokerages ▪ Comp
Slide 44: AUB Group in the Insurance Broking Value Chain
AUB Group in the Insurance Broking Value Chain AUB sources, designs and distributes insurance products on behalf of underwriters without taking on underwriting, prudential capital requirements or claims risk Source capacity for Distribution of insurance Authority to design and Clients (SMEs and dist
Slide 45: Our Long-Term Levers for Earnings Growth
OUR LONG-TERM LEVERS FOR EARNINGS GROWTH Long term strategy remains consistent with priorities aligned to where we see opportunities going forward Improved Earning driver Consolidation / New Business Commission/ M&A Commercial Cost Reduction Technology priorities Specialisation Growth Fee Changes Ar
Slide 46: Overview: Australian Broking
OVERVIEW: AUSTRALIAN BROKING OVERVIEW ▪ Our Australian broking businesses encompass some of Australia’s largest and most reputable brokerages, with specialist expertise, market penetration and quality client portfolios 41% 37 ▪ The portfolio consists of ~3,200 staff with capabilities across a broad
Slide 47: Overview: BizCover
OVERVIEW: BIZCOVER OVERVIEW ▪ BizCover is the leading digital full-lifecycle SME insurance platform in Australia and New Zealand, operating across the entire insurance value chain - without assuming underwriting risk ▪ With an excellent NPS score of +73, BizCover’s success is driven by sustained inv
Slide 48: Overview: BizCover
OVERVIEW: BIZCOVER BizCover Full Lifecycle API Enabled Platform Professional Indemnity ‘* — Business Pack ‘~~ Public Liability Management Liability Cyber Liability Personal Accident &lllness ac] | DUAL CHUBB BHSI Ais] —__vero\! Hollard. @ zuricu DNL b Berkley AIG. pes" BHSI @ zuricu a) (DUAL DUAL ®Q
Slide 49: Overview: New Zealand
OVERVIEW: NEW ZEALAND OVERVIEW ▪ 6 Broking groups and Insurance Advisernet NZ broker network o Selective investments in high-performing broking businesses ▪ 2 underwriting agencies ~$1.2b 6% 6 Brokers 2 Agencies ~245,000 contribution to 2 broker o Expansion of 360 in New Zealand through in premium c
Slide 50: Overview: Agencies
OVERVIEW: AGENCIES OVERVIEW ▪ Our Agencies comprise some of Australia’s leading specialist underwriters who distribute and manage insurance products on behalf of domestic and internationally licensed insurers, including Lloyd’s ▪ The business includes 39 agencies, driving ~$1.3b ~$1.3b 15% 39 ~166,0
Slide 51: Overview: International (Including Tysers)
OVERVIEW: INTERNATIONAL (INCLUDING TYSERS)2 OVERVIEW ▪ Tysers within International is a leading specialist international insurance broker in the Lloyd’s marketplace with 200 years of expertise Tysers Wholesale ▪ $5.1b premium, ~1,800 employees, across offices in Prestige Insurance 15 countries ~$5.1
Slide 52: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE Maintained MSCI AA rating and recertified as “Great Place to Work” AASB S2 ▪ AUB Group is a Group 1 reporting entity under Australia's mandatory climate reporting regime. ▪ Sustainability disclosures were prepared in accordance with AASB S2 Climate-related Disclo
Slide 53: C. AUB Group Portfolio Overview
Appendices C. AUB Group Portfolio Overview
Slide 54: AUB Group ex International: Insurance Portfolio Mix, by Product and Insurer
AUB GROUP EX INTERNATIONAL: INSURANCE PORTFOLIO MIX, BY PRODUCT AND INSURER Portfolio Mix – Premium by Product / Risk Line Portfolio Mix – Premium by Insurer 16% 15% 19% 2% 10% 12% 3% 44% 3% 6% 10% 8% 6% 9% 6% 8% 8% 3% 6% 3% 3% Business PI Motor - Commercial Farm Liability Workers Comp CGU/IAG Allia
Slide 55: Australian Broking Portfolio Mix by Client Segment, Product, Geography & Insurer
AUSTRALIAN BROKING PORTFOLIO MIX BY CLIENT SEGMENT, PRODUCT, GEOGRAPHY & INSURER Client Segment Mix Product Line Mix Geography Mix Insurer Mix Corporate 29% Business Workers Comp NSW WA Allianz National Transport Insurance 18% 5% 40% 8% 10% 4% Medium Enterprise 27% ISR Strata VIC ACT QBE Zurich 12%
Slide 56: AUB Group ex International: Portfolio Mix, by Product Category and Geography
AUB GROUP EX INTERNATIONAL: INSURANCE PORTFOLIO MIX, BY PRODUCT CATEGORY AND GEOGRAPHY Portfolio Mix – by Category (%) Portfolio Mix – by Geography (%) 9% 13% NT 1% QLD 16% WA 7% NSW SA 32% 8% ACT 1% 87% 91% VIC 16% Commercial NZ Personal 19% 56 Portfolio mix is based on available data from key Aust
Slide 57: Tysers: Revenue by Insurer, Broking Team and Intermediary Partner
TYSERS: REVENUE BY INSURER, BROKING TEAM AND INTERMEDIARY PARTNER (12M TO 30 JUN’26) Revenue by Insurer Revenue by Broking Team Revenue by Intermediary Partner 2% 2% 3% 2% 8% 7% 4% 2% 17% 5% 6% 1% 1% 5% 5% 1% 4% 1% 4% 4% 4% 4% 61% 3% 3% 2% 2% 3% 2% 45% 3% 81% 3% Top 10 insurers account Top 10 brokin
Slide 58: Notice
NOTICE SUMMARY INFORMATION This document has been prepared by AUB Group Limited (ABN 60 000 000 715) (AUB). It is a presentation of general background information about AUB’s activities current at the date of the presentation. It is information in a summary form and does not purport to be complete.
Slide 59: Thank You
Thank You