• Strong financial performance - record FUMAS and strong topline growth
• Synergy realisation from the AET integration exceeded plan
• Expenses turnaround - 2H25 return to BAU margins

EQT Holdings Ltd delivered a strong financial performance in FY25, with record FUMAS of $254b (up 28%) and revenue growth of 7% to $182.5m. Underlying NPBT increased 4% to $53.7m, while statutory EPS grew 60% to 124.26 cents. The company completed the integration of AET, exceeding planned synergy realisation, and achieved a turnaround in expenses with a return to BAU margins in 2H25. Key strategic achievements included becoming the leading private trustee in key segments and geographies, completing the transition to a single operating platform, and driving growth in the Health & Personal Injury and Charitable Trust segments. The company also rationalised its international operations, exiting Ireland and the UK. Regulatory developments, including APRA's CPS 230 and the Financial Accountability Regime, were well managed. The company provided an update on its exposure to the Shield Master Fund and First Guardian Master Fund issues, reporting that its exposure was limited and that it was cooperating fully with regulators. Overall, EQT delivered on its 3-year strategic growth plan, positioning the business for continued success.

EQT provided the following high-importance, price-sensitive forward-looking financial metrics for FY26: Revenue growth of 7-9%, Underlying NPBT growth of 5-7%, and Statutory EPS growth of 4-6%.

EQT is well-positioned for continued growth, having successfully completed its 3-year strategic plan. The company will focus on further enhancing its position as Australia's leading private trustee, driving growth in the Corporate Trustee and Superannuation businesses, and continuing to modernise its core technology infrastructure.