• Margin reduced to BBSW +7.35%, effective immediately
• Delivers annual cash interest savings of $1.75m
• Combined with recent repricing of syndicated senior finance facility, total annual cash interest savings increases to $4.63m

Pioneer Credit Limited (ASX: PNC) ('Pioneer' or 'the Company') has announced a further improvement in its cost of capital, having secured a 315bps reduction in the pricing of its $55.5m Medium Term Notes ('MTNs'). The key terms of the amendment include: the margin has reduced to BBSW +7.35%, effective immediately, delivering annual cash interest savings of $1.75m. Pioneer has agreed not to repay the MTNs through a call on noteholders prior to August 2027 but has retained the right to buy notes back privately, or on market, in part or in full. Combined with the recent repricing of the Company's syndicated senior finance facility (which saves $2.88m per annum), the total annual cash interest savings increases to $4.63m. In the second half of FY26, the combined cash benefit is $2.02m. The MTN repricing will also result in a modification gain in 2HY26 under Australian Accounting Standards, which will be reviewed by the Company's auditor following which it will update the market with its further revised FY26 earnings guidance. The repricing further strengthens Pioneer's balance sheet through structurally lower funding costs, while retaining flexibility to pursue further reductions in funding costs in the medium term.