Property Franchise : Annual Report 2025 (TPFG FY25 Results Presentation )

About this update from Property Franchise Group Plc

‌Fifi6l Results 2025 ‌ A record year delivering strong growth ‌Presentation Team Gareth Samples Chief Executive Officer Ben Dodds Chief Financial Officer ‌Agefid6 2 Financial Review 3 Strategy 4 Outlook 5 Q&A 1 Highlights Highlights ‌FINAL RESULTS 2025 ‌HIGHLIGHTS The UK's l6rgest multi-br6fid property fr6fichisor Provefi multi-br6fid fr6fichise model 15 Franchise brands Harnessing entrepreneurial self-motivated franchisees coupled with specialist central support Ifiterfi6tiofi6l opportufiity 19 Countries we operate across 8 new international offices added in 2025 Highly experieficed sefiior le6dership te6m 25 ye6rs Average industry experience Supporting the enlarged group including Group MDs, General Counsel, Operations and Commercial Directors Successful 6cquisitiofi str6tegy Acquisitions since 2013 Successful integration including two latest transformational acquisitions 7 High degree of recurrifig revefiue 51% Of total revenues from lettings or licensing Highly cash generative and underpinned by recurring revenues from lettings Strofig free c6sh gefier6tiofi £22.1m 116% of Earnings converting to cash from operations Progressive dividefid policy +17% Compound annual growth rate in dividends since 2014 Full Year Results 2025 5 L6rge 6fid growifig fietwork 1,900 Lettings and estate agency businesses 315 Mortgage advisers ‌WHO WE ARE Divisiofi6l Busifiess Structure Three divisions underpinned by a scalable platform model Core, recurring engine Fr6fichisifig Network of independent businesses operating under our Brands, Procedures and Guidance. % of Revenue Business Model Fifi6fici6l Services Advisers earning commission on mortgages and protection products through an authorised network Cross sell growth engine Licefisifig Network of independent businesses operating under our Brands. Fixed Fee Model Capital light, recurring income Pl6tform model Shared services, Technology, AI, Compliance, Recruitment, Procurement and Scalability Full Year Results 2025 6 ‌HIGHLIGHTS FY25 Oper6tiofi6l Highlights Solid operational progress across the Group, strengthening TPFG's strategic position Managed portfolio of 149,000 properties (2024: 153,000) 35,000 residential sales transactions (2024: 30,000) Launch of Privilege programme a set of lettings-focused offerings for franchisees Financial Services division delivered a record 25,000 mortgages in 2025 (2024: 23,000) In Licensing, Fine and Country added a further 13 new licensees including 8 new international offices Enhanced Board and senior leadership team to support the next phase of growth Significant progress in AI- focused initiatives, with rollout started in 2026 Full Year Results 2025 7 Fifi6fici6l ‌FINAL RESULTS 2025 Review ‌2024: 18p 2024: £9.1m Net debt £2.3m 2024: 0.4x Leverage 0.1x 2024: £14.7m Cash from operations £22.1m +51% YoY 2024: 31.7p Adjusted basic EPS 40.3p +27% YoY Full Year Results 2025 9 FINANCIAL REVIEW FY25 Key Highlights Strong financial performance delivering growth across KPIs Dividend 22p +22% YoY 2024: £22.3m Adjusted profit before tax £31.0m +39% YoY 2024: 52% Recurring income 51% 2024: £67.3m Revenue £84.3m +25% YoY ‌FINANCIAL REVIEW Revefiue, Profit6bility 6fid EBITDA The franchising division continues to deliver the highest proportion of profitability Revenue £12.6m £24.2m £47.5m Adjusted operating profit £3.5m £4.2m £27.9m EBITDA £3.8m £4.3m £28.7m Franchising +9% Franchising +17% Franchising +17% Financial Services +10% Financial Services +15% Financial Services +24% Licensing +3% Licensing +8% Licensing +10% * % increases on a pro-forma basis Full Year Results 2025 10 ‌FINANCIAL REVIEW Fr6fichisifig Lettings income continues to make up c50% of all franchising income, supporting robust recurring revenues KPIs 149,000 Total managed lets 35,000 Total Sales £40.5k Revenue £6m £7m +16% £7m £48m £22m 14% Lettings growth 13% Sales growth Average MSF per franchisee FY25 Progress Remains at the core, delivering 78% of divisional adjusted operating profit Privilege programme launched, generating £1.5m of incremental Group income £41m £19m £9m 2024 £8m £11m 2025 59% Adjusted operating profit margin Launch of AI sales agent in February 2026, generating 25% more valuation appointments in the month than in-person processes Full Year Results 2025 Lettings MSF Sales MSF Own Offices Other 68% Recurring 11 ‌FINANCIAL REVIEW Fifi6fici6l Services Financial Services has grown significantly with the acquisition of Brook through Belvoir Group KPIs 315 * Number of advisors 25,000 Mortgage transactions £83k Revenue +26% 26% Revenue growth Revenue per adviser FY25 Progress Post-period acquisition of 85% stake in Smart Advice Financial Solutions, adding 34 advisers £9m £19m £10m 2024 £14m £24m £10m 2025 18% Adjusted operating profit ** *following post-period end acquisition of Smart Advice Financial Solutions **calculated on a net commissions basis adjusted operating profit is 63% Full Year Results 2025 Employed Advisers Business Partners 6% Recurring 12 12 ‌FINANCIAL REVIEW Licefisifig Acquisition of GPEA adds a licensing division, where a regular recurring monthly fee is paid in return for use of the Brands KPIs 1,042 Number of licensees £696.0 Average license fee per licensee FY25 Progress Fine & Country added 13 new licensees, including 8 new international offices Guild numbers contracted as anticipated, value proposition has been strengthened and launched at national conference in February 2026 Full Year Results 2025 75% Revenue growth 28% Adjusted operating profit 74% Recurring 13 13 Revenue +75% £4m £7m £3m £7m £13m £6m 2024 2025 Fine & Country The Guild ‌FINANCIAL REVIEW Cofisistefit Delivery The Group has delivered consistent growth in Adj PBT, EPS and Dividend over the last 10 years 17% Dividend CAGR 16% EPS CAGR 4.0p 5.9p 6.5p 7.5p 8.4p 2.6p 8.7p 11.6p 13.0p 14.0p 18.0p 22p 40.3p 28% Adj PBT CAGR £66m 3Yr Cash Generation* 7.7p 11.6p 14.4p 14.0p 15.4p 16.2p 16.8p 27.9p 28.4p 29.7p 31.7p 22.3 9.4 10.7 11.2 31.0 2.1 3.1 3.8 4.2 4.8 4.9 5.3 *£22m of net cash from operations assumed over a 3 year period 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Dividend Adjusted EPS Adjusted PBT (£m) Full Year Results 2025 14 ‌FINANCIAL REVIEW C6sh Cash flow continues to be strong and has increased by 14% per share Cash at 31st December 2024 £4.2m Net cash from operations £22.1m Payment of deferred consideration £(3.7m) Bank Loans Drawn £6.5m Bank Loans Repaid £(6.6m) Dividends paid £(12.0m) Employee Benefit Trust Loan £1.6m Other movements Cash at 31st December 2025 £(1.2m) £10.9m *2024 removed the exceptional acquisition cashflows Full Year Results 2025 Highly cash generative with a strong balance sheet Cash conversion against earnings was 116% in 2025 (2024: 145%), reflecting higher levels of accrued income from initiatives such as the Privilege programme As at 31 December 2025, £3.0m was drawn on the RCF and £10.2m remained outstanding on the term loan with Barclays, leaving bank debt of £13.2m (2024: £13.2m) £10.9m Cash as at 31 Dec 2025 34.2p Free cash flow per share £22.1m Net cash generated from operations 15 ‌FINANCIAL REVIEW‌ C6pit6l Alloc6tiofi The Group continues to deliver on its capital allocation strategy Focus 2025 Bank debt remained at same levels due to RCF & loan to fund acquisition Pay down debt Maintain appropriate cash reserves Financial Resilience 1 Invested whilst maintaining a disciplined approach to leverage Strategic spend to support synergy growth Support acquisitions Invest in cost saving programmes 2 Organic Growth Investment Pay out ratio c.50% of earnings in dividend 3 Progressive Dividend Increased full year dividend by 22% Maintained payout ratio at 56% Property Franchisors or complementary business models Lettings Book acquisitions into owned 4 M&A Activity Acquired Smart Advice FS in Feb 2026 Further opportunities being explored Return to shareholders Special dividends or buy-backs 5 Surplus Capital No surplus capital Full Year Results 2025 16 Str6tegy ‌FINAL RESULTS 2025 ‌STRATEGY M6rket Upd6te The market was supportive of our growth in 2025 and presents opportunities for 2026 Lettings Landlord attrition and slower pace of new lettings portfolio acquisitions ahead of the Renters Rights Bill UK rents are expected to rise around 2.5% in 2026 Shift towards more balanced rental market after years of severe tenant competition Financial Services Mortgage rates continued to come down ending the year at 3.75% Value of gross mortgage advances has increased to £80.4bn* in Q3 2025, 23% higher than Q3 2024 Increased market activity since mortgage rates started to decrease in 2024 Sales In 2025 housing sales hit 1.2m - the highest in three years House prices forecast to increase by 1.5 % over 2026 Improved affordability with lower mortgage rates and eased affordability rules Monitoring potential impact of Middle East conflict *Source: Financial Conduct Authority Full Year Results 2025 18 ‌STRATEGY Refiters' Rights Act Mitigating the impact through TPFG's attractive proposition The Renters' Rights Act How TPFG is responding When will it become law? Became law in October 2025, with provisions coming into effect from May 2026 Rent Guarantee Product Delivered through HomeLet at a uniquely commercial price, ensuring franchisees can offer enhanced protection to landlords while also generating additional revenue What is it? Ends fixed term tenancies, removes no fault evictions and brings in hefty fines for non-compliant landlords Compliance Product A suite of compliance-themed services for agents, backed by Propertymark and packaged at a materially lower combined cost compared to the market What are the implications? May result in some landlords moving from self managed to letting agents, or in some cases exit Whilst this presents potential challenges, it also presents significant opportunity for TPFG Educational landlord events Opportunity to engage self managed landlords which we are doing through local briefing events Full Year Results 2025 19 ‌STRATEGY Growth strategy Growth Str6tegy & FY26 Priorities Fifi6fici6l Services Maximise opportunity across Group's franchise network and existing customer base Increase productivity and develop a market leading buy-to-let proposition Licefisifig Expand brand across UK and internationally, and attract more licensees and members Expand F&C internationally and attract more members to the Guild FY26 priorities Pl6tform model Growth strategy Deliver greater value across the divisions by adding additional services and capabilities Leverage the Privilege programme and enhanced value proposition to attract more franchisees and members Recruitment of new franchisees, licensees, members and advisers Roll out the successful AI trials further across the Group and launch new products Digital marketing & AI to improve productivity and the customer experience Drive growth across the Group through providing indirect funding assistance and incentive programs Agent acquisitions FY26 priorities Full Year Results 2025 20 Lettings Fr6fichisifig Sales Keep lettings at our core and increase market penetration Develop sales productivity and sales-led activities in the high-street-led brands Help franchisees navigate regulatory changes Relaunch the sales programme ‌STRATEGY Growth Str6tegy & FY26 Priorities Acquisitiofis to grow our divisiofis 6fid widefi pl6tform Owned Office Lettings Book Portfolios Drive profitability of our strategic owned offices and increase recurring revenues Complementary businesses Build on platform model and improve the home purchase value chain Financial Services businesses FS buy-and-build strategy, targeting profitable businesses with c.20 advisors Franchisors Two remaining property franchisors Criteria: +15% ROCI +25% Margin Cash generative Full Year Results 2025 21 Outlook ‌FINAL RESULTS 2025 ‌OUTLOOK Outlook Commercial opportunities in 2026 supported by strong balance sheet, diversified income streams, and expanding platform Actively pursuifig 6cquisitiofi opportufiities Q1 tr6difig ifi lifie with expect6tiofis Boost revefiue syfiergies vi6 the Group's sc6le 6fid pl6tform strefigths Growth supported by diversified revefiue stre6ms & strefigthefied le6dership Well-positiofied to t6ke 6dv6fit6ge of m6rket cofiditiofis ifi 2026 Full Year Results 2025 23 Q&A ‌FINAL RESULTS 2025 Appefidix ‌FINAL RESULTS 2025 ‌APPENDIX The Bo6rd Paul Latham Non-Executive Chair Gareth Samples Chief Executive Officer Ben Dodds Chief Financial Officer Michelle Brook Financial Services Director Jon Di-Stefano Senior Independent Non-Executive Director Claire Noyce Independent Non-Executive Director Paul George Independent Non-Executive Director Full Year Results 2025 26 ‌APPENDIX Sefiior le6dership te6m Gareth Samples Chief Executive Officer Ben Dodds Chief Financial Officer Michelle Brook Financial Services Director Adam Noonan Commercial Director Grace Milham Operations Director Claire Devine General Counsel & Comp Sec Iain Mckenzie Licensing Nick Neill Hybrid Group MD Toby Smith Trad Brands Group MD Rob Smith Hunters & Northwood Group MD Ellie Hall Belvoir Group MD Full Year Results 2025 27 ‌APPENDIX Profit & Loss Full Year Results 2025 28 ‌APPENDIX B6l6fice Sheet Summ6ry Full Year Results 2025 29

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