• Statutory operating income from ordinary activities up 22% to $246m
• Statutory profit from ordinary activities attributable to shareholders up 46% to $60m
• Loan book grew 7% over the half to $13.4bn, up 15% over the year

Judo delivered a strong 1H26 result, achieving PBT of $86.5m, up 26% over the prior half and 53% versus the previous corresponding period (PcP). The Bank continued to scale its specialist SME lending franchise, growing its loan book to $13.4bn, up 7% over the half and 15% over the year, while maintaining consistent market-leading NPS of +52. The Bank also grew its deposit base to $10.9bn, up 10% over the half and 21% over the year, providing a solid funding foundation to support continued lending growth. With multiple growth levers in place and a focus on optimisation, the Bank is now clearly demonstrating operating leverage and is making significant progress toward its at-scale ROE target. PBT was $86.5m, up 26% over the half and 53% versus the pcp. The result was supported by continued scaling of the loan book, stable NIM and a lower cost of risk. Lending growth reflected the continued strength of Judo's differentiated customer value proposition (CVP), continued recruitment of highly skilled relationship bankers and improving productivity. Funding continued to strengthen and diversify as Judo made progress towards its at-scale funding stack. Deposits reached $10.9bn and represented 69% of Judo's total funding as at 31 December 2025, up from 68% as at 30 June 2025. Judo also continued to optimise its wholesale funding program. Operating expenses were $119.1m, up 12% over the half and 3% vs the pcp. CTI was 48.5%, up slightly from 47.9% in 2H25. CTI improved significantly versus the pcp, down 890bps from 57.4%, consistent with the Bank delivering the operating leverage inherent in its business model. Impairment expense was $40.1m, down from $46.7m in 2H25, driven by lower levels of individually assessed provisions on newly impaired loans. Capital remained strong with a CET1 ratio of 12.6%, down from 13.1%.

Judo is targeting Return on Equity (ROE) in the low-to-mid teens at scale.