• Delivered solid financial results and made significant progress on strategic priorities in FY25
• FY26 focus on optimising, demonstrating operating leverage, and progressing towards at-scale ROE
• Multiple opportunities to drive lending growth and other operating income

Judo Capital Holdings Ltd reported its FY25 results, delivering solid financial performance and making significant progress on its strategic priorities. The company's key highlights include 16% growth in gross lending assets (GLA), 20% deposit growth, and an 80bps improvement in return on equity (ROE) to 5.3%. Judo's operating leverage is clearly emerging, with the company's cost-to-income ratio improving to 52.4% in FY25. The company's credit quality remained stable, with 90+ days past due and impaired assets at 2.43% of GLA. Judo's FY26 strategic focus includes scaling and strengthening its lending business, optimising funding and capital to improve ROE, and leveraging its recent technology investments to enable faster, smarter, and stronger customer relationships. The company is targeting GLA of $14.2bn to $14.7bn in FY26, with a net interest margin of 3.00% to 3.10% and a cost-to-income ratio below 50%. Judo remains well-capitalised, with a common equity tier 1 ratio of 13.1% as of June 2025.

Judo is targeting the following key metrics in FY26: - GLA of $14.2bn to $14.7bn ($15bn to $20bn at-scale) - NIM of 3.00% to 3.10% (>3% at-scale) - Cost-to-income ratio below 50% (approaching 30% at-scale) - Cost of risk of 60bps to 65bps of average GLA (50bps at-scale) - PBT of $180m to $190m - ROE in the low to mid-teens

Judo is focused on optimising its operations, demonstrating operating leverage, and progressing towards its at-scale ROE targets in FY26. The company sees multiple opportunities to drive lending growth and other operating income, and is exploring options to optimise its funding and capital to support growth and further penetrate its target addressable market. Judo's strong executive team and highly engaged workforce are expected to support its progress towards its at-scale metrics.