Announcement PDF ASX RELEASE Plenti Group Limited (ASX:PLT) Authorised for release by the Board of Plenti Group Limited For more information please contact: Daniel Foggo, CEO, shareholders@plenti.com.au Miles Drury, CFO, shareholders@plenti.com.au 1H24 Results Presentation Six months to 30 September 2023 Plenti overview Plenti is a technology-led lender Here to make a positive difference • We are Australia’s largest fintech consumer lender Our purpose • We are Cash NPAT profitable To bring our customers’ big ideas to life • We deliver market leading customer experiences via our proprietary technology platform Our vision • We’re rapidly taking market share by setting new standards in automotive, renewable energy and personal finance Our mission Fairer, faster loans through smart technology To build Australia’s best lender • We fund prime borrowers and have an exceptional 9-year credit track record • We have deep and diversified funding, including low-cost and flexible retail investor funding • We’re founder-led and have a long-term focus 2 Half-year highlights We delivered strong growth, profitability and differentiated credit results Highlights Originations Closing loan portfolio Revenue Pro forma Cash NPAT +12% pcp +29% pcp +52% pcp up 10% on pcp Cost-to-income Closing 90+ arrears Demonstrated differentiated credit capabilities Demonstrated value of retail investment platform $624m $2.0bn 29% down 24% yoy 45bps up 17bps yoy $97m $1.5m 3 Growth We extended our track record for driving loan portfolio growth Loan portfolio ($bn) 2.0 66% 3 year CAGR Total portfolio growth pcp 29% 1.5 Auto loan book >$1.1bn 1.0 Cumulative lending since launch >$4bn 0.5 0.0 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23 1H24 4 Growing customer base We continued to expand our high quality customer base Total customers - all time 100 30% growth on pcp 75 Thousands Thousands Borrowers with loan outstanding 200 175 28% growth on pcp The Plenti borrower • Average loan balance ~$20,000 • 67% homeowners • 832 weighted average credit score 150 • Average age ~43 125 50 100 75 25 0 The Plenti investor • Average age of 40 50 • 19% under 30 years of age 25 • 7% over retirement age or investing via SMSF or trust 0 5 Strategic enablers We further extended our core strengths and advanced our strategic priorities Technology leadership Credit excellence Diversification Team engagement • Meaningful investment • Effective use of data • Broad set of products • Leading customer experiences • Application of technology to credit decisioning • Multi-channel distribution • Engaged, determined and high performing • Market leading operating efficiency • Predictable credit outcomes • Deep, diversified funding • Always learning • Committed to building Australia’s best lender Note: Titles represent strengths. Sub-bullets represent strengths, team priorities and/or ambitions 6 Technology leadership Our technology advancements focused on enhancing customer experience, efficiency and scalability GreenConnect platform advancement Enhanced document automation 1. Customer experience 2. Efficiency 1. Growth 2. Impact Direct-to-consumer auto improvements 1. Growth 2. Customer experience Enhanced IT security Increased decisioning automation 1. Growth 2. Credit performance 3. Efficiency Advanced new core platform ledger 1. Security 2. Scalability 1. Efficiency 2. Agility 3. Scalability 7 Credit excellence We continued to demonstrate our differentiated credit performance Annualised net loss rate1 3.0% 2.5% 2.0% Decline supported by benign COVID period and shift towards secured automotive lending Average borrower credit score2 900 90+ days arrears3 1.0% 0.8% 800 0.6% 1.5% 700 Australian credit active population average score 0.4% 1.0% 600 0.5% 0.0% 500 0.2% 0.0% 1. Annualised net loss rate is after the impact of debt sales, which occurred in 2H23 and 1H24 2. Represents loan portfolio weighted average Equifax comprehensive credit score, where comprehensive score available. Australian average 734 as at December 2021 (source: www.savings.com.au). 3. 90+ days arrears calculated as total value of loans over 90 days in arrears but not yet written off divided by loan portfolio value. 8 Diversification We continued to advance the broadening of our products, distribution and funding ‘14 Products Unsecured personal loan Secured personal loan Renewable energy PoS loan Secured auto loan Renewable energy BNPL Commercial auto loan GreenConnect platform Distribution Direct-to-consumer Loan brokers Renewable energy partners Government battery programs Car manufacturer Funding Retail investor marketplace ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 ‘22 ‘23 Benefits • Diversity of products, distribution and funding provides many on-going benefits: – Higher sustainable growth levels – Increased efficiency and operating leverage – Enhanced economics through the ability to cross-sell to customers – Improved ability to withstand periods of heightened competition for a product or distribution channel – Improved resilience to disruption in funding markets • The strategic partnership with NAB announced today furthers Plenti’s diversification strategy Wholesale investment platform CEFC funding Warehouse funding ABS issuance Corporate facility Notes Market 9 Product area review Automotive finance We achieved strong growth in our prime automotive loan book 1H24 highlights • Optimised loan origination levels versus loan margins in a competitive market impacted by frequent rate movements • Advanced differentiation of offering – especially in ease of use for partners and speed of application, decisioning and settlement • Auto loan book passed $1bn Auto loan book ($m) Automotive lending opportunity $35bn+ 1,200 26% growth on pcp 1,000 4% estimated Plenti market penetration Plenti customer segments - Consumer and commercial borrowers - New and used vehicles - Cars, caravans, motorbikes 800 600 Selected 1H24 statistics1 12% electric vehicle lending 36% commercial customer lending 45% new car loan lending annual lending2 Plenti existing distribution channels - Car/asset and mortgage broker referral - Manufacturer referral - Dealer/online car sale businesses - Digital direct-to-consumer 400 Plenti strengths - Customer experience and speed - Partner portal/integration technology - Clarity and consistency of credit policy 200 0 1H21 1H22 1H23 1H24 1. Share of total automotive lending in 1H24 2. Annual automotive market lending estimate representing consumer and commercial lending segments (see ABS 5601.0 Table 7 LTM to Jun-20, and ABS 5671.0 Table 9 LTM to Nov-18 (ABS discontinued ABS 5671.0 in Nov-18, more recent data not provided by 11 ABS)). Penetration is based on Plenti’s share of estimated annual lending based on 1H24 loan originations. Renewable finance We further accelerated renewable finance growth, supported by the adoption of our unique GreenConnect platform 1H24 highlights Renewable energy loan book ($m) Renewable energy opportunity • Significant expansion of GreenConnect platform, increasing market impact 250 310k – 7 virtual power plant (VPP) and OEM partners now on platform including major energy retailers 44% growth on pcp 200 ~10% estimated finance market penetration – Strong growth in applications and VPP connections – Believe GreenConnect to now be the largest referrer of VPP connections in Australia • Enhanced experience for installers offering electrification assets - heat pumps, EV chargers, energy efficient upgrades, and more Plenti customer and product segments - Residential borrowers - Solar, battery and inverter systems 150 Plenti distribution channels - Equipment retailers and installers - Energy retailers - Product manufacturers - Government subsidy program delivery 100 Selected 1H24 statistics >6,800 systems funded ~$11k average loan size 25% funding of installations with batteries solar installations annually1 50 Plenti strengths - Integration capabilities - Bundled energy solution offering - Aligned with partners 0 1H21 1H22 1H23 1H24 1. Clean Energy Council, Clean Energy Australia Report 2023 , down from 389,352 solar installations in Australia in 2022. Renewable energy market size and market penetration based on Plenti’s estimate of OEM and installer-led point-of-sale solar, inverter and home battery finance provided to consumers. 12 Personal lending We continued to grow our personal loan book while advancing our direct-to-consumer product and capabilities 1H24 highlights • Record originations in 1Q,but softened in 2Q, primarily reflecting refinements to Plenti’s credit appetite Personal loan book ($m) Personal lending market opportunity 600 $12bn+ 28% growth on pcp • Direct-to-consumer and broker channel contributing broadly equally to loan originations • Advancements in credit decisioning and underwriting technology, driving higher automation levels and improved customer conversion metrics Selected 1H24 statistics 26% of lending for home improvement 45% digital ‘direct-to-consumer’ lending >850k persons in ecosystem 2 annual lending1 4% estimated market penetration 400 Plenti key customer segments - Unsecured automotive - Home improvement - Debt consolidation - Significant life events & purchases 200 Plenti distribution channels - ~30 digital channels - ~7,000 finance brokers - Bank referral partnerships - Corporate referral agreements 0 1H21 1H22 1H23 1H24 Plenti strengths - Customer experience - Marketing funnel efficiency - Broker channel relationships 1. Annual lending per ABS Lending Indicators September 2023, Table 27 LTM to September 2023., excluding road vehicle commitments Estimated penetration is based on Plenti’s share of estimated annual market loan originations. Customers in ecosystem represents borrower or investor customer profiles, including current borrowers or investors 2. Represents number of customer profiles held including investors, borrowers and past loan applicants 13 Financial results Financial highlights We continued to grow loan book and revenue, with demonstrated operating leverage driving increased Cash NPAT Loan portfolio • 32% increase in average portfolio on pcp to $1.89bn Revenue • 52% revenue growth to $96.8m Cash NPAT • Cash NPAT of $1.5m despite higher credit losses – up 10% on pcp Margins • Maintained stable portfolio margins despite increases in market interest rates and associated funding costs Credit • Delivered strong credit result in ‘normalising’ loss environment – annualised net losses of 0.99% Costs • Continued demonstration of operating leverage – cost-to-income ratio reduced to 29% from 38% in pcp Cash flow • Overall cash neutral including funding $226m of loan portfolio growth ABS issuance • Consistency in ABS issuance – completed $406m auto ABS in 1H24 with lifetime issuance now >$1.7bn Corporate funding • Effective recycling of capital to support growth – increased available corporate cash against prior half Growth Profitability Funding 15 Margin performance We maintained stable portfolio margins, despite further material increases in market funding costs in 1Q24 • Net interest margin (NIM) in 1H24 was 5.2%, with an average effective yield of 10.2% and funding cost of 4.9% Effective yield (%)1 – Stable on 2H23 portfolio NIM of 5.2% despite an increase of >100bps in market interest rates impacting our cost of funds across the period 8.9% 9.5% 10.2% 1H23 portfolio 2H23 portfolio 1H24 portfolio 12.3% Oct/Nov new originations Funding costs (%)2 – Remained focused on proactively managing borrower rates to maintain net interest margins and earn appropriate economics on new loan originations – Market interest rate changes do not impact existing loan portfolio margins as floating rate funding exposure is swapped to fixed rates at the time of loan origination • NIM on new originations in 2H24 to date has been slightly above the portfolio average – we expect portfolio margins to remain broadly stable in the half, subject to any material market funding cost changes 7.0% 3.5% 4.3% 4.9% 1H23 portfolio 2H23 portfolio 1H24 portfolio Oct/Nov new originations Net interest margin (%) 5.3% 5.2% 5.2% 5.3% Transaction costs (%) 1.2% 1.2% 1.2% 1.1% 1. Effective yield calculated as annualised Interest revenue divided by the average loan portfolio for the period 2. Funding costs calculated as annualised Funding costs dividend by average borrowings for the period • Transaction costs expressed as a rate in 1H24 were in line with 2H23, with the rate on new originations in 2H24 to date down 10bps 16 Credit performance We continued to demonstrate the prime credit characteristics of our loan portfolio • Credit losses result for 1H24 was strong at 0.99% Realised loan impairment expense (%) – As communicated through FY22 and FY23, we had anticipated a movement upward in loss rate in FY24 as pandemic era effects receded (Government stimulus, very low interest rates, excess consumer savings etc.) 0.63% 0.73% 1H23 portfolio 2H23 portfolio 0.99% 1H24 portfolio 1.26% Oct month 3.4 1.94% – ECL provision increased by net $1.3m, with the impact of the loan portfolio growth being offset by a lower provision rate due to a lower proportion of the loan portfolio being in arrears at September 2023 (2.1) 35.6 34.3 % of loan portfolio • Underlying realised loss rate in 2Q24 of 1.07% and October loss result at 1.26%, noting that loss results can vary month to month • Expected credit loss (ECL) provision at 30 September 2023 was $35.6m or 1.79% of loan portfolio, down from 1.94% at 31 March 2023 Expected credit loss provision ($m) Mar-23 – Completed a debt sale in 2Q24 which contributed to loss recovery rate in the period (2H23 also benefited from a similar debt sale) Portfolio growth Provision rate Sep-23 1.79% 17 Profit & loss We drove Cash NPAT of $1.5m in the half, a 10% increase on pcp $m 1H23 1H24 Change Interest revenue 63.2 95.9 52% Other income 0.6 0.9 42% Total revenue pre transaction costs 63.8 96.8 52% Transaction costs (8.7) (11.0) 26% Net income 55.0 85.8 56% Loan funding costs (25.7) (47.3) 84% Expense passed to unitholders (0.0) (0.2) >100% Customer loan impairment expense (8.7) (10.7) 23% Realised loan impairment expense (4.5) (9.3) 108% ECL provision expense (4.2) (1.3) (68)% Sales and marketing expense (6.0) (6.9) 16% Product development expense (5.1) (6.0) 18% General and administration expense (12.9) (14.9) 15% Operations expense (6.0) (7.0) 17% Other overhead expense (6.9) (7.9) 14% Corporate funding costs (0.9) (1.5) 61% Depreciation & amortisation (0.7) (0.8) 9% Income tax benefit / expense 7.6 3.2 (58)% NPAT 2.6 0.6 (76)% 1.4 1.5 10% Cash NPAT 1 1. Refer to page 29 for details of statutory NPAT to Cash NPAT reconciliation • Cash NPAT increased 10% on pcp to $1.5m • Key drivers of this result were: – Strong growth in revenue, up 52% as a result of loan book growth and borrower rate increases – Higher credit losses, as anticipated, with net credit losses up $4.8m or 68% – Disciplined cost control, with operating costs up $3.8m or 14% • Transaction costs increased 26%, slightly below average book growth of 32%, supported by changes to commission payments • Loan funding costs increased 84%, reflecting growth in the loan portfolio and higher average market interest rates • Material reduction in ECL provision expense reflects lower provision rates as arrears declined across the portfolio • Increased sales and marketing expense primarily reflects increase in directto-consumer acquisition spend • Product development expense increased 18% to $6.0m as Plenti continued to invest in its technology team to support future business growth and efficiency – all technology investment expensed in the P&L in the period • Income tax benefit is a non-cash benefit relating to hedging gains that are only reflected on the balance sheet and will unwind over time – Tax benefit not included in Cash NPAT as does not reflect underlying business operations 18 Funding overview We continued to build-out our diverse and cost-efficient funding • Plenti extended its track record as a regular issuer in debt capital markets Loan portfolio funding ($m)1 – $406m Auto ABS completed June 2023 – Over $1.7bn in total ABS issuance to date 161 Warehouse headroom – Continue to broaden investor base, including offshore investor participation • Warehouse facilities effectively managed to optimise funding mix 772 Warehouses - drawn – Auto limits reduced post ABS and multiple limit increases also executed – Period end warehouse headroom of ~$161m, increased to ~$377m in the month following the half-end – Restructured one auto warehouse to include rated component as part of November extension, increasing funding efficiency • Equity investment in ABS/warehouses of $51.5m at 30 September ($13.7m of which is held against loans in the Notes Market) 1,039 ABS structures – Released ~$9.2m of capital in half from ABS transactions and Notes Markets against $10.0m of new investment in warehouse growth • $40.1m reported corporate cash position at 30 September2 205 Marketplace lending platforms • $5m drawn from corporate debt facility at period end to support future growth – $27.5m drawn at period end 30 Sep 2023 19 1. Warehouse and ABS values exclude $51.5m of notes held by Plenti which eliminate on consolidation. Warehouse headroom was ~$161m at 30 September 2023, increased to ~$377m based on warehouse limit increases completed by 31 October 2. Reported corporate cash includes $17.7m (Mar-23: $10.0m) in customer collections accounts which are received in Plenti corporate accounts and then regularly swept to relevant funding vehicles. These funds are not available for general corporate purposes Our ambitions FY24 objectives We remain focused on delivering scale and profitability FY24 objectives Growth Profitability • Drive growth in loan originations and loan portfolio • Grow revenue to over $200 million • Deliver full year Cash NPAT growth, skewed towards 2H24 • Reduce cost-to-income ratio to <30% Efficiency • Remain on target to deliver $25m in efficiencies as loan portfolio scales from $1.5bn towards $3 billion 21 Annexures Cash flow Reported operating cashflow for 1H24 was $18m $m 1H23 1H24 • Total statutory cash flow from operating activities in the period was $18.0m (1H23: inflow of $6.6m) • Cash inflow from operating activities excluding the Provision Fund was $17.3m (1H23: outflow of $5.8m) Operating cash flow Interest income received 68.7 104.3 Other income received 0.6 0.9 Interest and other finance costs paid (25.8) (49.1) Payments to suppliers and employees (37.0) (38.1) 6.6 18.0 (248.6) (231.4) – $(10.0)m of cash invested in equity tranches in the Group's warehouse and ABS structures 192.2 208.3 – $9.2m released from existing funding facility structures following completion of the ABS transaction or via the Notes Market Proceeds from corporate debt 4.5 5.0 – $5.0m drawn down from the Group's corporate debt facility Other (0.7) (0.7) – $7.8m increase in customer collections that are yet to be transferred to the Group's warehouse and ABS trusts Net investing and financing cash flow (52.6) (18.8) Net increase in cash and cash equivalents (46.0) (0.8) Net operating cash flow Investing and financing cash flow Net increase in loans to customers Net proceeds of borrowings • The material reconciling items between operating cash inflow of $17.3m and the movement in corporate cash of $12.9m are – $(9.6)m of merchant service fees on interest free loans which are reflected on a gross basis in the statutory cash flow as operating cash flow but which are operationally netted off against the amount borrowed from the warehouse to fund the loan with the cash benefit being received through the life of the loan – $(8.6)m of realised losses which are deducted from the Group's warehouse and ABS trusts distribution payments 23 Balance sheet Net assets increased to $54.8m driven by loan hedging derivative gains in the period $m 31-Mar-23 30-Sep-23 Cash and cash equivalents 143.0 142.2 Customer loans 1,714.8 1,932.5 Derivative assets 20.8 28.8 Other assets 31.4 33.1 Total assets 1,910.1 2,136.5 5.0 5.8 1,808.1 2,016.2 Borrowing – corporate funding 22.5 27.5 Derivative liabilities 2.6 - Other 26.9 32.2 1,865.0 2,081.7 45.0 54.8 31-Mar-23 30-Sep-23 Corporate cash 27.8 40.1 Provision Fund cash 13.7 12.8 Platform / warehouse funding cash 101.5 89.3 Total cash and cash equivalents 143.0 142.2 Assets Liabilities Trade payables Borrowings – loan funding Total liabilities Net assets $m • Corporate cash position at 30 September 2023 of $40.1m – $17.7m relates to loan collection accounts which are not available for corporate activities (31 March 2023: $10.0m) – Excluding these amounts, Corporate cash was $22.4m, up from $17.8m at 31 March 2023 • Total underlying corporate liquidity and Provision Fund cash balance of $35.2m • Customers loan asset of $1,932.5m reflects $1,992.4m loan portfolio less $35.6m ECL provision and $24.3m in deferred upfront fees • Borrowings of $2,016.2m comprises $1,039m of ABS funding, $772m of warehouse funding and $205m via lending platforms – Plenti equity investment in securitised structures of $51.5m (not represented on balance sheet as eliminates on consolidation) – $13.7m of Plenti’s investment is held against loans in the Notes Market on the Plenti Lending Platform • Corporate debt facility drawn to $27.5m in September 2023, with facility size able to increase as the loan book grows 24 Half-on-half summary P&L 1H211 2H21 1H22 2H22 1H23 2H23 1H24 1H22 / 2H21 2H22 / 1H22 1H23 / 2H22 2H23 / 1H23 1H24 / 2H23 Interest revenue 23.9 26.8 36.6 50.6 63.2 78.9 95.9 37% 38% 25% 25% 22% Other income 2.1 0.4 0.6 0.6 0.6 0.8 0.9 65% 10% (7)% 31% 9% Total revenue pre transaction costs 26.0 27.2 37.2 51.3 63.8 79.7 96.8 37% 38% 24% 25% 21% Transaction costs (1.0) (1.8) (3.2) (7.7) (8.7) (10.0) (11.0) 83% 139% 14% 15% 10% Net income 25.0 25.4 34.0 43.6 55.0 69.7 85.8 34% 28% 26% 27% 23% Loan funding costs (12.3) (12.7) (14.5) (17.5) (25.7) (36.1) (47.3) 14% 21% 47% 40% 31% Expense passed to unitholders (0.1) 0.1 (0.2) 0.0 (0.0) (0.1) (0.2) nm nm nm >100% 50% Customer loan impairment expense (3.0) (4.3) (6.0) (6.3) (8.7) (16.1) (10.7) 40% 5% 38% 85% (33)% Realised loan impairment expense (2.2) (2.2) (2.5) (2.5) (4.5) (6.1) (9.3) 17% (1)% 79% 35% 54% ECL provision expense (0.9) (2.1) (3.5) (3.8) (4.2) (10.0) (1.3) 64% 9% 11% 139% (87)% Sales and marketing expense (4.0) (5.6) (7.3) (6.4) (6.0) (6.3) (6.9) 30% (12)% (7)% 5% 10% Product development expense (2.5) (3.0) (3.3) (4.4) (5.1) (5.3) (6.0) 9% 33% 15% 5% 13% General and administration expense (6.1) (7.9) (9.7) (11.6) (12.9) (13.4) (14.9) 23% 19% 11% 3% 11% Operations expense (2.2) (3.7) (4.6) (5.6) (6.0) (6.2) (7.0) 23% 21% 7% 4% 13% Other overhead expense (3.9) (4.2) (5.2) (6.1) (6.9) (7.2) (7.9) 24% 18% 14% 3% 10% Corporate funding cost (0.0) (0.0) (0.0) (0.1) (0.9) (1.3) (1.5) 19% >100% >100% 41% 14% Depreciation & amortisation (0.4) (0.4) (0.5) (0.6) (0.7) (0.8) (0.8) 25% 26% 22% 9% 1% Income tax benefit / expense - - - 4.4 7.6 (6.5) 3.2 nm nm 72% nm nm NPAT (3.4) (8.5) (7.5) 1.2 2.6 (16.2) 0.6 (12)% (115)% 127% nm nm Cash NPAT (1.5) (5.1) (2.2) 2.7 1.4 3.1 1.5 (56)% nm (49)% 125% (51)% $m, 6 month periods Notes: 1. Pro forma adjustments only apply to 1H21 results – refer to FY21 annual results presentation for reconciliation between statutory and pro forma results. 25 Key metrics $m 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23 1H24 FY20 FY21 FY22 FY23 Loan originations ($m) 125.2 161.3 167.0 303.3 472.8 629.5 558.2 572.8 624.1 286.5 470.3 1,102.3 1,131.0 Average term of new originations (months) 53.7 55.9 62.5 61.8 64.8 65.0 64.6 64.2 64.4 52.7 62.1 64.9 64.4 Closing loan portfolio ($m) 306.0 380.9 435.1 614.6 915.1 1,299.7 1,547.6 1,766.2 1,992.4 380.9 614.6 1,299.7 1,766.2 Average loan portfolio ($m) 274.9 346.8 393.5 511.0 754.8 1,100.9 1,427.0 1,663.3 1,885.5 310.8 452.2 927.9 1,545.2 Average borrowings ($m) 269.8 340.0 385.3 490.7 724.2 1,072.8 1,472.1 1,690.0 1,916.5 305.6 438.0 898.5 1,581.0 Average interest rate (% of average gross loan portfolio) 13.3% 12.4% 12.1% 10.5% 9.7% 9.2% 8.9% 9.5% 10.2% 12.8% 11.2% 9.4% 9.2% 7.1% 6.5% 6.3% 5.2% 4.0% 3.3% 3.5% 4.3% 4.9% 6.7% 5.7% 3.6% 3.9% 2.7% 2.0% 1.1% 0.8% 0.7% 0.5% 0.6% 0.7% 1.0% 2.3% 1.0% 0.5% 0.7% 4.8% 4.7% 4.9% 4.7% 4.7% 4.5% 4.0% 3.8% 3.8% 5.2% 5.2% 5.7% 4.3% 4.4% 4.2% 4.8% 4.0% 3.8% 3.7% 3.6% 3.5% 3.5% 4.3% 4.4% 3.7% 3.6% Average funding cost rate (% of average borrowings) 1 Net charge off (% of average closing loan portfolio) 2 Loan portfolio amortisation rate (% of closing loan portfolio,) monthly 3 Loan portfolio amortisation rate (% of average loan portfolio,) monthly Notes: 1. Net charge-off rate calculated as actual loan receivables written off in the period net of loss recoveries divided by average loan portfolio value. 2. Calculated as change in closing loan portfolio less new loan originations for the period as a % of the previous period closing loan portfolio 3. Calculated as change in closing loan portfolio less new loan originations for the period as a % of the period average loan portfolio 26 Lending vertical metrics $m 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23 1H24 FY20 FY21 FY22 FY23 Loan originations 125.2 161.3 167.0 303.3 472.8 629.5 558.2 572.8 624.1 286.5 470.3 1,102.3 1,131.0 Automotive 19.2 38.4 81.1 149.7 257.7 381.6 302.3 269.3 327.6 57.6 230.8 639.3 571.7 Renewable energy 19.4 23.6 28.5 28.7 46.3 51.9 52.6 69.4 76.3 43.0 57.2 98.3 122.0 Personal 86.6 99.3 57.5 125.0 168.8 195.9 203.2 234.1 220.1 185.9 182.5 364.7 437.3 306.0 380.9 435.1 614.6 915.1 1,299.7 1,547.6 1,766.2 1,992.4 380.9 614.6 1,299.7 1,766.2 Automotive 55.7 83.4 146.0 264.4 464.4 744.8 898.8 997.6 1,135.8 83.4 264.4 744.8 997.6 Renewable energy 38.2 54.6 71.2 86.1 113.8 141.9 164.8 201.0 236.6 54.6 86.1 141.9 201.0 Personal 212.1 243.0 217.8 264.1 336.9 413.1 484.0 567.7 619.9 243.0 264.1 413.1 567.7 Closing loan portfolio 27 NPAT to Cash NPAT reconciliation $m 1H21 2H21 1H22 2H22 1H23 2H23 1H24 NPAT (pro forma) (3.4) (8.5) (7.5) 1.2 2.6 (16.2) Add: movement in provision for expected losses 1.0 2.2 3.6 3.8 4.2 Add: share-based payments 0.6 0.9 1.2 1.6 Add: depreciation & amortisation 0.4 0.4 0.5 - - (1.5) (5.1) Add: Income tax expense on hedge gain Cash NPAT (pro forma) FY21 FY22 FY23 0.6 (11.9) (6.3) (13.6) 10.1 1.5 3.1 7.4 14.3 1.4 1.9 1.8 1.4 2.8 3.4 0.6 0.7 0.8 0.8 0.7 1.0 1.5 - (4.4) (7.6) 6.5 (3.2) 0.0 (4.4) (1.1) (2.2) 2.7 1.4 3.1 1.5 (6.6) 0.5 4.5 28 29 Disclaimer and important notices No recommendation, offer, invitation or advice The material in this presentation is general background information about Plenti Group Limited (the Company) and its subsidiaries, and is current at the date of the presentation, 28 November 2023. The information in this presentation is of a general nature and does not purport to be complete or to provide all information that an investor should consider when making an investment decision. It should be read in conjunction with the Company’s IPO prospectus and other periodic and continuous disclosure announcements lodged with the ASX, including the 1H24 Results announcement and other 1H24 results materials. Neither the Company nor its representatives have independently verified any data provided by third parties. This presentation does not constitute advice (of any kind) to current or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. No representation is made as to the accuracy, completeness or reliability of the presentation. The Company is not obliged to, and does not represent that it will, update the presentation for future developments. This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in the Company. This presentation has been made available for information purposes only and does not constitute a prospectus, short form prospectus, profile statement, offer information statement or other offering document under Australian law or any other law. This presentation is not subject to the disclosure requirements affecting disclosure documents under Chapter 6D of the Corporations Act 2001 (Cth) and does not contain all the information which would be required in such a disclosure document. Exclusion of representations or warranties This presentation may contain certain “forward looking statements”. Forward risks, uncertainties and other factors, many of which are outside the control of the Company, can cause actual results to differ materially from such statements. The Company makes no undertaking to update or revise such statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in any forw