• Record new business writings and assets under management in FY24
• Ongoing delivery of shareholder returns through $30m share buyback
• Accelerating business transformation program to drive profitability

FleetPartners Group Ltd presented its 2025 Annual General Meeting materials, providing an update on the company's FY24 performance and strategic initiatives. The key highlights include:- Record new business writings (NBW) and assets under management (AUMOF) in FY24, growing 21% and 11% respectively. This was driven by the company's Strategic Pathways growth initiatives across its Corporate, Novated, and Small Fleets segments.- Ongoing delivery of shareholder returns, with a $30 million share buyback announced for 1H25, representing 65% of 2H24 NPATA. This follows $29.4 million in buybacks completed in 2H24.- Acceleration of the company's Accelerate business transformation program, which aims to consolidate brands, systems, and processes to drive greater efficiencies, lower costs, and enhance the customer experience. The program is expected to deliver $6 million in annual cost savings.- A trading update for 1Q25 showing continued robust customer demand in Australia, offset by subdued conditions in New Zealand. NBW was 7% lower than the prior corresponding period, while AUMOF grew 9%.- FY25 financial expectations, including NOI pre EOL and provisions growth, EOL normalization, and operating expense management.

For FY25, FleetPartners expects:- NOI pre EOL and provisions to grow, partially offset by a reduction in management fees as lease extensions decline- EOL per vehicle to continue declining as used car prices reduce- Operating expenses to grow, partially offset by cost savings from the Accelerate program later in the year- An effective tax rate of 29-30%

FleetPartners remains focused on executing its Strategic Pathways growth initiatives across its Corporate, Novated, and Small Fleets segments, while also accelerating its Accelerate business transformation program to drive greater efficiencies and enhance the customer experience.