• Continued strong performance across core operating metrics
• Accelerate program successfully completed, delivering $6m+ of annualised cost savings
• Temporary disruption from Accelerate system cutover impacting new business writings and net debt

FleetPartners Group reported a strong 1H25 performance, with continued growth across key operating metrics. Assets under management and financing (AUMOF) grew by 6% compared to the prior corresponding period (pcp), driven by a 14% increase in balance sheet funded AUMOF. Net operating income (NOI) pre EOL and provisions increased by 8%, aligned with the average AUMOF growth. End-of-lease (EOL) income decreased by 18%, primarily due to a 15% reduction in units sold and a 4% decline in average EOL per unit. The group successfully completed its Accelerate business transformation program, which has delivered $6m+ of annualised cost savings and positioned the group in a stronger competitive position to grow and optimise returns from new and existing business. However, the Accelerate system cutover in February 2025 resulted in temporary disruptions, including a 17% decline in new business writings (NBW) compared to pcp, a temporary increase in net debt, and higher provisions and arrears.Normalised cash earnings per share (EPS) grew by 13% compared to the prior year, driven by continued AUMOF growth, disciplined cost management, and the ongoing share buyback program. The group announced a $25m share buyback for 2H25, representing 65% of 1H25 normalised profit after tax and amortisation (NPATA).The group's environmental, social, and governance (ESG) highlights include a 62% share of Novated NBW for electric and plug-in hybrid vehicles, 98% of staff vehicles being electric, and 100% of office power sourced from renewable energy. The group also launched its first Innovate Reconciliation Action Plan and held 105 sustainable fleet transition consultation reviews since the start of FY24.