MyState (MYS) investor relations material

Executive summary

• Completed transformational merger (Ozwite/Auswide) in February, achieving $8.4M in annualized synergies within four months.

• Underlying NPAT rose 17% year-over-year to $41.3M, with statutory NPAT at $35.6M after merger costs.

• Loan book grew 7.5% annualized post-merger, with significant increases in scale and capital base.

• Fully franked final dividend of $0.11 per share declared, totaling $0.215 for the year, supported by strong capital.

• Growth initiatives executed across banking, equipment finance, and wealth management.

Financial highlights

• Underlying NPAT increased 17% to $41.3M; statutory NPAT was $35.6M after $5.7M in merger-related costs.

• Net interest income grew 26% year-over-year; total operating income up 22.4% to $186.6M.

• Operating expenses increased 25.7% to $127M, mainly due to the expanded group post-merger.

• Net interest margin improved by 2bps to 1.47% year-over-year.

• Customer deposits surged 71% to $10.1B; home loan book expanded 62% to $12.9B.

Outlook and guidance

• Targeting double-digit EPS growth as full run-rate merger synergies are realized.

• Integration priorities: single banking license, core system consolidation, and culture alignment.

• Home loan growth expected to slightly outpace system growth (5–6%) for FY 2026.

• Underlying cost growth of ~5% per annum expected to be offset by synergy realization, resulting in a flat cost base.

• Annual cost synergies of $20–25M (pre-tax) expected by FY28; integration costs estimated at $29M over three years.