McMillan Shakespeare (MMS) investor relations material

Opening remarks and agenda

• AGM opened in Melbourne with a quorum; notice of meeting was distributed on 18 September 2026.

• Traditional Owners were acknowledged; Chair’s address covered FY26 performance, shareholder returns, sustainability and board succession, while the CEO addressed execution, Q1FY27 trading and FY27 outlook.

• Meeting business included FY26 reports, the remuneration report, director elections and approvals for CEO incentive rights.

Financial performance review

• FY26 revenue was $602.1m, up 6.8%; expenses rose 2.8%, EBITDA increased 14.1% to $180.7m, and operating margin expanded 250 bps to 41.5%.

• Record underlying NPATA/UNPATA was $107.9m, up 13.8%; statutory NPAT rose 11.4% to $106.7m. Underlying EPS was $1.55, up 13.8%, and ROCE was 62.1%, up 83 bps.

• FY26 customer counts: salary packages 402,000 (+7.1%), novated leases 90,000 (+13.5%), fleet units ~16,000 (+3.3%) and Plan and Support Services customers 44,000 (+3%).

• Onboard Finance receivables reached $587m, supporting funding diversification and recurring income; underlying cash conversion was 111%, with no funding maturities due in the next 12 months.

• Q1FY27 novated sales rose 14% PCP; novated leases grew 17.5% to 95,000, salary packages 6.8%, Plan and Support Services customers 2.7% to 44,100, and fleet units 1.7% to 15,500.

Board and executive committee updates

• Andrew Moore joined the board in September and stood for election; his experience includes senior roles at GE Capital, St. George Bank, Westpac and Spaceship, with expertise in digital transformation and financial services.

• Moore was invited to join the Audit, Risk and Compliance Committee; the board recommended shareholders vote for his election.

• Ross Chessari retired after more than 22 years of board service; the Chair and CEO acknowledged his contribution.

• Kathy Parsons stood for re-election, highlighting financial reporting oversight, risk and compliance systems, and continuous improvement; the board, excluding Parsons, recommended her re-election.

• Helen Kurincic served as Board Chair and Rob De Luca as CEO and Managing Director.