• Record monthly originations of $55.7 million in March 2026, up 44% on pcp
• Record monthly revenue of $1.5 million in March 2026, up 30% on pcp
• Q3 FY26 platform originations of $69.8 million, up 60% on pcp

Butn Limited (ASX:BTN) has provided a business trading update for the period ending 31 March 2026. The company reported record performance in March 2026, with all-time highs in both originations of $55.7 million and revenue of $1.5 million. This strong result was driven by new clients and continued organic growth and utilization of Butn's embedded funding solutions. Butn's platform business continues to be a key growth driver, with Q3 FY26 platform originations of $69.8 million, up 60% on the prior corresponding period (pcp). This reflects increasing adoption of Butn's embedded funding solutions by SMEs and strategic partners, consistent with the company's strategy to grow higher-margin, scalable platform distribution. The company also reported a reduction in operating cash expenses for Q3 FY26, down 11% on Q2 FY26, reflecting continued cost discipline and operational focus. Butn had $13.8 million of cash and short-term investments as at 31 March 2026, providing financial flexibility to support ongoing growth initiatives. The company's funding structure, including the $100 million Northleaf facility, continues to provide scalable capacity to support further growth in originations. Butn also completed a successful unmarketable parcel share buy-back program during the period.

Management remains focused on scaling the platform business, expanding distribution through strategic partnerships, and leveraging its funding capacity to drive sustainable growth. The company continues to progress several strategic initiatives evaluating growth opportunities and potential transactions.