• Delivered strong financial performance, with 9% growth in normalised net profit after tax
• Made progress in Australia's retirement income market, expanding partnerships and product offerings
• Embarked on digital transformation to underpin next phase of growth strategy

In 2025, Challenger celebrated 40 years of serving customers and delivering on its purpose of providing financial security for a better retirement. The company reported a strong financial performance, with normalised net profit after tax increasing 9% to $456 million, in line with earnings guidance. Normalised return on equity also increased to 11.8%, exceeding the target. Challenger remains well capitalised with $1.7 billion in excess capital, providing financial flexibility and supporting future growth. The board determined a full-year dividend of 29.5 cents per share, up 11% on the prior year. Challenger made progress in Australia's flourishing retirement income market, addressing the needs of a broader range of customers including superannuation funds, wealth managers, and platforms. The company also progressed its digital transformation, with initiatives to enhance the customer experience and enable greater integration of its retirement products across the financial system. Looking ahead, Challenger will focus on maintaining financial strength, broadening its range of retirement and income solutions, and delivering a compelling customer experience. The company is confident in its ability to achieve financial targets and generate long-term sustainable growth.

Challenger reported a normalised net profit after tax of $456 million for the 2025 financial year, up 9% on the prior year. The company also achieved a normalised return on equity of 11.8%, exceeding its target.

In 2026, Challenger will focus on maintaining its financial strength and building on the progress achieved in 2025. This includes broadening its range of retirement and income solutions and delivering a compelling customer experience to allow customers to interact with the company on their own terms. Challenger is confident in its future and ability to achieve its financial targets and generate long-term sustainable growth.