Omni Bridgeway (OBL) investor relations material

Executive summary

• Achieved or exceeded all key targets for FY 2026, including record cash investment proceeds of AUD 350.5 million (up 49% YoY) and new commitments of AUD 712.2 million (up 38% YoY), despite a challenging fundraising environment.

• Fee income rose to AUD 35.4 million, meeting the annual target and up 17% from FY 2025, with cost coverage improving to 53% from 36%.

• Assets under management (AUM) grew 12% to AUD 5.9 billion, with a 5-year trailing IRR of 40% and FY26 MOIC of 2.3x across 80 completions.

• US$1 billion capital raising target reached for Funds 4/5 Series II, with AUD 72.5 million in additional sidecar capital raised.

• Mature portfolio, disciplined execution, and a capital-light asset management strategy position the business for continued growth and improved cost coverage.

Financial highlights

• Cash investment proceeds reached AUD 350.5 million, up 49% year-over-year, and new investment commitments were AUD 712.2 million, up 38%.

• Fee income grew to AUD 35.4 million, and cash OpEx was AUD 67.1 million, 16% below budget and 20% below FY 2025.

• Net profit after tax was AUD 45.9 million, down from AUD 416.8 million in FY 2025 due to the absence of one-off items and FX impacts.

• Return on equity was 8%, and book value per share was AUD 2.96, flat year-over-year.

• Portfolio fair value increased by AUD 277 million to AUD 3.8 billion, with OBL-only fair value up to AUD 725 million.

Outlook and guidance

• Completion momentum expected to continue in FY 2027, supported by a maturing portfolio and strong AUM growth.

• Fee income guidance for FY 2027 is AUD 40–45 million, with OpEx targeted at AUD 72.5–75 million.

• On track for 70% cost coverage by FY 2028 and double-digit annualized AUM growth through FY 2028.

• Portfolio maturity and capital-light strategy expected to drive positive free cash flow.

• Further capital raising anticipated, especially via sidecar arrangements.