Pengana Capital Group (PCG) investor relations material

Executive summary

• Funds under management (FUM) increased 14% year-over-year to $4.0bn as of 30 June 2026, driven by strong inflows into Global Private Credit (GPC) and Global Private Equity (GPE) platforms.

• Net base revenue (NBR) rose 29.2% to $41.1m, with margin improvement to 1.03% from 0.91% year-over-year.

• Private market assets (GPC and GPE) now contribute 51% of run-rate NBR, reflecting a strategic shift toward higher-margin segments.

• TermPlus, a fintech offering high-yield fixed-term accounts, continued rapid growth and market traction.

Financial highlights

• Gross base revenue up 23.8% to $52.9m; NBR up $9.3m year-over-year.

• Base operating EBITDA for FY 2026 was $5.7m, with run-rate EBITDA estimated at $15.5m due to higher NBR.

• Statutory profit after tax for FY 2026 was a loss of $5.6m, impacted by product and market development expenses.

• Performance fees remain volatile, with net performance fees of $2.8m in FY 2026, down from $7.9m in FY 2025.

Outlook and guidance

• GPC and GPE platforms expected to drive continued high-margin growth; TermPlus adoption to accelerate.

• Listed Equities business targets moderate growth, with performance fees expected to remain sporadic.

• Operating expenses projected to grow only marginally, supporting scalable profit growth.