• Secured 100bps reduction in pricing of $272.5M syndicated senior finance facility
• Revised pricing lowers facility margin to BBSW + 450bps, delivering $2.5M annualised pre-tax interest savings
• Fully funded for FY26 Purchased Debt Portfolio investment program exceeding $80M

Pioneer Credit Limited (ASX: PNC) has announced a significant improvement to its capital structure, having secured a 100-basis point reduction in the pricing of its $272.5 million syndicated senior finance facility ('Facility'). The revised pricing, effective 1 November 2025, lowers the Facility margin to BBSW + 450bps, and will deliver an annualised pre-tax interest saving of approximately $2.5 million. The repricing follows Pioneer's strong FY25 financial performance and positive outlook for FY26. Pioneer maintains a robust funding position, underpinned by strong operating cash flow, and has over $30 million in undrawn Facility capacity. The Company is fully funded for its FY26 Purchased Debt Portfolio (PDP) investment program, which is expected to exceed $80 million, with commitments anticipated to be met through free cash flow. Under the revised terms, Pioneer has agreed not to undertake repayment of the Facility prior to July 2027, ahead of its scheduled maturity in July 2028, along with other undertakings commensurate with a Facility of this type and size. All financial covenants remain unchanged.

FY26 Statutory Net Profit After Tax of at least $18 million.