Omni Bridgeway (OBL) investor relations material

Executive summary

• Achieved strong 1H26 performance, meeting or exceeding key targets, with robust investment completions, disciplined cost control, and solid progress on corporate KPIs.

• Statutory NPAT reached A$84.5 million, supported by investment proceeds of A$223.7 million and strong portfolio diversification.

• Closed US$228 million in new external capital commitments for Funds 4/5 Series II, with additional sidecar capital raised and further commitments pending.

• Portfolio remains diversified across over 300 investments, regions, and legal strategies, mitigating concentration risk and supporting stable returns.

• Positive regulatory developments in the EU and UK affirm the legitimacy of litigation funding and introduce light-touch regulation.

Financial highlights

• Total income for the half was A$179.5 million, reflecting portfolio growth and investment completions.

• EBIT reached A$24.7 million, with realized EBIT of A$21 million; group EBIT for 1H26 was A$108.3 million.

• Return on equity annualized at 23.9%, with book value per share at A$3.20, up 7%.

• Cash OpEx reduced to A$34.4 million, materially below the FY26 budget of A$80 million, reflecting disciplined cost management.

• Consolidated cash and receivables stood at A$277 million at period end; OBL-only cash balance at A$149 million as of December 2025.

Outlook and guidance

• Positive outlook for new commitments, supported by a strong pipeline and risk-adjusted pricing, with 23 exclusive term sheets representing A$279.4 million in new opportunities.

• On track to achieve or exceed targets for OpEx, fee income, and cost coverage for FY26; full closure of Funds 4/5 Series II anticipated within the financial year.

• Targeting 70% cost coverage by FY28, with 1H26 at 52%.

• OpEx expected to remain below the FY26 budget of A$80 million.

• Exploring further expansion and diversification, including new sub-strategies, regional growth, and AI-driven efficiency projects.