• Replacing the current Board would jeopardise the strategy delivering measurable results, including a ~118% total shareholder return
• The Convenors' ill-conceived and simplistic 'plan' threatens humm's capital strength, lender relationships and growth prospects
• The Convenors have made statements that are materially incorrect, prioritising attention-grabbing headlines over fair and accurate disclosure

The humm Board has implemented a comprehensive strategy refresh since mid-2022 that is delivering positive, measurable results for shareholders, including growing the commercial segment, exiting loss-making operations, undertaking a transformational re-platforming program, repositioning international consumer businesses, and launching a new big ticket point-of-sale offering. Replacing the current Board would halt this progress and risk undoing the gains achieved. The Convenors' proposed 'plan' to significantly weaken humm's capital base through reckless capital management would cripple lender confidence, constrict growth and ultimately erode shareholder value. The Convenors have also made numerous claims that are factually incorrect or reflect a fundamental misunderstanding of governance and corporate finance. The current humm Board, which is majority independent and highly experienced, is committed to robust governance and acting in all shareholders' interests, in contrast to the Convenors' approach that risks reactive, short-term decision-making.