1Q27 update – Record quarterly loan originations of $536m and strong credit performance

Highlights

• Record quarterly loan originations of $536 million, up 22% on PCP and up 13% on prior quarter, with quarterly loan origination records achieved in each lending vertical
• Record monthly loan originations in June of $221 million, up 39% on PCP and 28% on prior record, demonstrating strong growth and comfortable scalability of operations
• Loan portfolio increased to $3.3 billion, up 23% on PCP and up 6% on prior quarter
• NAB powered by Plenti (NPBP) loan portfolio increased to $153 million, up 26% on prior quarter, with the June daily origination run-rate up 35% on prior quarter
• Annualised net credit losses of 98bps, 68bps net of the $2.2 million debt sale impact
• 90+ day arrears remained low at 46bps at quarter end
• Appointed as an inaugural finance provider for the NSW Government’s $480 million Home Energy Saver program
• Revenue of $84.6 million, up 16% on PCP
• Cash PBT of $10.7 million which includes $2.2 million debt sale completed in 1Q27

Commenting on the quarter, Adam Bennett, Plenti’s Chief Executive Officer said:

“Delivering record originations across all three of our lending verticals is a fantastic way to open FY27 and our Horizon 2 strategy. Total loan originations reached $536 million, up 22% on prior corresponding period, a result built on the strength of our purpose-built technology platform and proprietary data and credit capability, and the strong relationships we hold with our partners and distribution channels. June was areal highlight, with $221 million in loan originations, up 39% on June last year and up 28% on our previous record, set only the month prior.

The result reflects our investment in growth during 2H26 now delivering value, with extra capacity enabling record volumes while maintaining our high operating and customer service standards.

We’re excited about what we can achieve both operationally and strategically in FY27 and beyond and remain focused on increasing efficiency and profitability as the loan book scales, all while we maintain the prime credit quality that has always defined Plenti.”

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Loan portfolio

Plenti’s loan portfolio increased to $3.3 billion at 30 June 2026, a 23% increase from 30 June 2025 and a 6%increase from 31 March 2026. The loan portfolio is well diversified across Plenti’s three lending verticals, each of which delivered growth against the prior corresponding period (PCP) and prior quarter.

Loan originations and margins

Plenti delivered record quarterly loan originations of $536million (including NPBP lending), up 22% on PCP and 13% on prior quarter. Originations in April were softened by the concentration of public holidays, however demand strengthened through the rest of the quarter supported by the usual lift in activity ahead of financial year end, particularly in automotive lending.

• Record automotive loan originations of $281 million, up 23% on PCP and up 12% on prior quarter. Quarter-on-quarter growth was achieved in both consumer and commercial lending, supported by the seasonal strengthening of demand in June. The NPBP product complemented the result with 6% growth in daily originations on prior quarter and the portfolio growing to $153 million.
• Record renewable energy loan originations of $86 million, up 77% on PCP and up 27% on prior quarter, supported by Government incentive programs at both the Federal and State level. The WA Residential Battery Scheme contributed meaningfully to growth, with over 9,900 rebates processed during the quarter.
• Record personal loan originations of $168 million, up 5% on PCP and up 7% on prior quarter. The result was underpinned by strong demand in both broker and direct distribution channels. Ongoing technology improvements supported steady growth in originations from repeat and cross-sell customers.

Margins

Throughout the quarter Plenti proactively managed the trade-off between originations and margins across our diverse product mix as competitive dynamics in our key markets evolved. Net interest margins on new loan originations were slightly lower than the prior quarter at ~5.3%, largely driven by a shift in product mix given the very strong originations growth in the Auto and Renewable verticals, as well as usual market financial year-end promotions.

Credit performance

Annualised net credit losses excluding the impact of a debt sale were 98bps, broadly in line with the 94bps in PCP and 96bps in the prior quarter. 90+ day arrears were 46bps at the end of the quarter, down from 49bps at the end of PCP but up modestly from 42bps at the end of the prior quarter.

The loan portfolio’s weighted average Equifax credit score remained stable at 851 at the end of 1Q27, reflecting Plenti’s disciplined approach to credit and continued focus on lending to prime credit customers.

While Plenti remains alert to the geopolitical and macro economic environment, the granularity and diversification of our prime loan portfolio – with no single exposure greater than $300,000 across automotive, renewable energy and personal lending – reflects prudent risk management and supports resilience through the cycle.

Profitability

Plenti has chosen todisclose profitability this quarter due to the material receipt of $2.2 million in net proceeds from a debt sale. Plenti has a track record for executing debt sales from time to time.

Plenti’s preferred metric for managing its business and measuring its profitability performance is Cash PBT. It removes the unrealised credit losses of the IFRS Expected Credit Loss (ECL) provision and only recognises the realised credit lossesincurred in the period. It is a better reflection of underlying tradingprofitability that is not being masked by growth driven provisioning.

Plenti achieved Cash PBT of $10.7 million and statutory PBT of $6.6 million. Statutory PBT is after deducting ECL provision expense ($3.1m), share-based payments ($0.9m) and depreciation and amortisation (ex leases) ($0.1m).

FY27 objectives

Plenti has had a record start to the year for originations. Costs are well controlled and credit performance continues to be stable. As a result Plenti remains ontrack to deliver the objectives for the year to 31 March 2027

Further information

All numbers in this release are preliminary and unaudited. This release was approved by the Plenti Board of Directors.