AGM Address and Presentations

ASX Release: 21 November 2024

HUB24 2024 Annual General Meeting - address and presentations

HUB24 Limited (ASX: HUB) attaches the Chair's address and presentation slides and the Managing Director's presentation slides to be delivered at HUB24's 2024 Annual General Meeting today.

About HUB24

HUB24 Limited is listed on the Australian Securities Exchange, and includes the award-winning HUB24 Platform, HUBconnect, Class, NowInfinity and myprosperity.

The HUB24 Platform offers advisers and their clients a comprehensive range of investment options, including market-leading managed portfolio solutions, and enhanced transaction and reporting functionality. As one of the fastest growing platforms in the market, the platform is recognised for providing choice and innovative product solutions that create value for advisers and their clients.

HUBconnect focuses on leveraging data and technology to provide solutions to common challenges for stockbrokers, licensees and advisers and enable the delivery of professional advice to more Australians.

Class is a pioneer in cloud-based wealth accounting software and is recognised as one of Australia's most innovative technology companies. Class delivers SMSF administration, trust accounting, portfolio management, legal documentation and corporate compliance solutions to financial professionals across Australia who depend on Class to drive business automation, increase profitability and deliver better client service.

myprosperity is a leading provider of client portals for accountants and financial advisers, enabling streamlined service delivery, increased productivity and enhanced customer experience for finance professionals and their clients.

This release is not financial product advice. Past performance is not indicative of future performance and any forward- looking statements in this release are not representations or guarantees as to future performance.

This announcement was authorised for release to the market by the Managing Director.

For further information, please visit www.HUB24.com.au

1

HUB24 LIMITED - 2024 ANNUAL MEETING

Thursday 21 November 2024

Address by the Chair, Mr Paul Rogan

Slide 1 - Chair's address

For those of you who I haven't met before it is my honour to speak to you today for the first time as Chair of HUB24.

I was appointed as Chair in November 2023 and having spent nearly seven years serving on the Board and on a number of Board committees.

I am privileged to lead the Board and work together with our talented HUB24 team.

Slide 2 - FY24 financial highlights

Financial year 24 was another successful year for the HUB24 Group having achieved record growth and strong financial results while remaining focused on progressing our strategic objectives towards our purpose of empowering better financial futures, together.

During the year, Group Revenue increased by 17% to $327.3 million driven by strong growth in the Platform segment, which had a record year of net inflows, supported by consistent growth within our Tech Solutions segment.

Our Group's preferred measure of profitability is Underlying Earnings Before Interest, Tax, Depreciation, Amortisation and Notable items, or Underlying EBITDA, and this increased by 15% to $118.0 million, with Underlying Net Profit After Tax, or UNPAT, up 15% to $67.8 million.

Slide 3 - Consistently delivering growth

During FY24, we continued to extend our market leadership in our core propositions while maximising our unique capabilities to deliver further opportunities for growth, and value for our customers and shareholders.

Over the year, the HUB24 platform continued to make a significant contribution to the Group's growth and cashflow - with a record $15.8 billion of net inflows onto the HUB24 Platform and Total Funds Under Administration, including both Platform and Portfolio Administration & Reporting Services, reaching a milestone of more than $100 billion.

Our Total Funds under Administration has achieved a compound annual growth rate, or CAGR, over four years of 57%.

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With Funds under Administration being a significant contributor to revenue - the 4 Year CAGR in our Group revenue was 42% and Group Underlying EBITDA was 47% over the same period.

The Class and NowInfinity businesses also delivered above system growth, while remaining focused on enhancing the customer experience and delivering product enhancements that drive productivity and value for customers.

Additionally, the acquisition of myprosperity, with its leading client portal capability is providing the Group with further opportunities to accelerate our strategy and consolidate our market leadership position.

Shortly, Andrew Alcock, HUB24's Managing Director and CEO will talk in more detail about the segment financial results and the initiatives we are delivering across the HUB24 Group that demonstrate how we are executing on our strategy by delivering customer value and growth, creating integrated wealth technology and platform solutions for our customers, and building together with a range of market participants to shape the future of the wealth industry.

Slide 4 - Performance delivering cashflows and shareholder returns

At HUB24, our capital management strategy aims to deliver consistent returns for our shareholders, while enabling us to reinvest to maintain our market leadership, deliver profitable growth and provide us with the flexibility to pursue future growth opportunities.

Our strong cash flow conversion has enabled our financial performance in FY24 to translate into consistent growth in operating cashflows. This, combined with our strong balance sheet enabled the Board to declare a record 38 cents per share total dividend for FY24, up 17% on the previous year.

Through fully franked dividends, we have returned $31 million to shareholders, equivalent to 46% of Underlying NPAT and in line with our targeted payout range of 40% to 60%. In addition, we returned a further $12 million to shareholders via the on market buy-back program.

In FY24 HUB24 Group continued to invest in innovation and our market leading capabilities with capital expenditure of $21 million. This is equivalent to 7% of our revenue and we intend to continue to invest in the business to maintain our market leadership and pursue further growth.

HUB24 also aims to mitigate the dilution from Employee Share Schemes through on-market purchases of shares. In FY24, the Company purchased $10 million of shares to service Employee Share Schemes, and we intend to make further purchases in FY25.

In terms of our balance sheet, we're in a strong position with net cash of $58 million at June 2024 which provides us with the flexibility to capitalise on future growth opportunities across the Group.

Moreover, our strong and consistent results have created significant value for shareholders and over the last four financial years, HUB24 has generated Total Shareholder Return at a CAGR of 51% compared to the ASX200 at 11%.

In addition, our share price has continued to carry momentum into FY25, supported by our strong FY24 and first quarter FY25 results, creating further value for shareholders.

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Given the increase in our share price and market capitalisation, HUB24 has been included in the S&P / ASX100 index as of September this year.

Slide 5 - Building a sustainable business

At HUB24, we recognise the importance of sustainability for the long-term prosperity of our customers, people, shareholders and communities, and we've provided an update on our initiatives in HUB24's most recent Sustainability Report. This outlines our key environmental, social

and governance - or ESG - focus areas and the progress we've made over the year.

The Board remains committed to ongoing improvement of our corporate governance practices and during FY24, this included conducting risk culture and engagement surveys, to understand our people's experiences at HUB24, and to seek input regarding the day-to-day conduct and culture of our business.

Pleasingly, employee engagement across the HUB24 Group increased during the year to 76%, up 2% which is top quartile in our sector. In addition, the Company was named as one of the Top 10 Best Places to Work in the 2024 AFR Boss Awards in the Banking, Super and Financial Services category, and has been endorsed as an employer of choice for women by Work180. These results and recognition are reflective of our increased focus on further strengthening our culture.

As part of our commitment to attract, motivate and retain talented and highly effective employees, including our Executives, we continue to review and assess remuneration structures and levels against market comparators, trends and best practice, to ensure we remain competitive and current.

We continue to align our remuneration with shareholder returns and, to provide an appropriate mix of fixed and hurdled, at risk remuneration that rewards both superior performance and results in attractive shareholder returns.

Various aspects of the outcomes of this review were highlighted in our Notice of Meeting, particularly as it relates to the remuneration of our Managing Director and CEO.

During FY24, we also launched a new set of Group-wide values, co-created by our people, to align HUB24's teams together for continued success. The new values recognise the evolution of our company to what it is today - the HUB24 Group - and they reflect how our people across the business work together to create value for our customers and shareholders, and empower better financial futures, together.

I will also add that an important part of our culture is our diverse and inclusive workplace - and pleasingly, we further enhanced our gender diversity at Board level with 50% female and 50% male board members. Across the broader HUB24 Group we also achieved our gender diversity targets and continue to prioritise, celebrate and encourage a diverse and inclusive workplace.

In recognition of our sustainability agenda and the ongoing impacts of climate change, and we remain committed to evolving our operations to achieve our target of net zero scope 1 and 2 carbon emissions by 2030.

During FY24, we've established an emissions reduction plan which will inform our strategy towards net zero emissions by 2030.

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During the year, we also formalised our commitment to the United Nations Global Compact on human rights, labour, environment and anti-corruption. We're committed to further embedding our sustainability strategy through all aspects of our business and aligning our actions and progress to the United Nations Sustainable Development Goals.

On other Board matters, we farewelled our long-serving Chair Mr. Bruce Higgins at our previous Annual General Meeting in November 2023, and I again thank him for his passion, leadership, support and encouragement during his 11-year tenure.

In June 2024, we appointed Ms. Michelle Tredenick as Non-Executive Director, who is an experienced ASX-listed and private company director with broad executive experience across wealth management, superannuation and technology companies. Her diverse skillset and experience further strengthens and extends HUB24's Board expertise and I welcome her today to our Annual General Meeting.

Slide 6 - Conclusion

In conclusion, HUB24 is proud to have delivered strong FY24 results with industry-leading and record platform net inflows and FUA growth.

The Group's strong financial and operating performance has delivered further value to our shareholders, with increased profitability enabling us to declare record dividends.

These strong results are underpinned by the long-standing investment in our technology, the strength of our offerings and our talented teams who are focused on delivering better outcomes for our customers and shareholders.

We've made a strong start to FY25 as reported in our Q1 ASX update - including record net inflows of $4 billion on the HUB24 Platform (excluding large migrations) - and we remain focused on executing on our strategy.

The HUB24 Group is uniquely positioned to capitalise on emerging opportunities and to lead the wealth industry as the best provider of integrated platform, data and technology solutions.

On behalf of the Board, I wish to thank HUB24's shareholders and customers for your continued support, as well as HUB24's executives and our talented teams for their ongoing commitment to both our customers and HUB24.

END

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Consistently delivering growth