1HY26 Results Presentation

• PDP Investment subdued due to suspended forward flows; since resumed
• Net Revenue $47.7m up 5% on 2HY25 (on subdued PDP investment)
• Statutory Net Profit after Taxation of $10.2m

Pioneer Credit Ltd reported its 1HY26 results, highlighting key developments. PDP investment was subdued during the period due to suspended forward flows, but has since resumed with $50m completed to mid Feb-26 and $80m guidance met. Net Revenue increased 5% on 2HY25 to $47.7m despite the subdued PDP investment, driven by improving margins. The company achieved a Statutory Net Profit after Taxation of $10.2m, up 104% on 2HY25. Pioneer continued to benefit from a material reduction in funding costs, with the Senior Facility repriced and reduced by 100bps at Nov-25 and a further 15bps reduction under ESG provisions at Dec-25. The company remains a preferred partner of the big four banks, and the only debt purchaser in Australia with agreements in place with all four.

Guidance upgraded to Statutory NPAT >$20m for FY26.

Strong tailwinds for PDP opportunities, with Tier 1 PDP supply expected to resume, return of all banks to forward flows in 2HY26, and significant inventory and one-off portfolios anticipated over the next 18-24 months. De-risked PDP investment, with $50m completed and FY26 guidance of at least $80m contracted. Unlocking operating leverage through the Core System Replacement project, data improvements, and AI rollout.