Steadfast Group (SDF) Investor Update summary

Strategic Focus, Growth, and Cost Optimisation

• Emphasis on organic growth and operational efficiency, leveraging data analytics and benchmarking for decision-making and commission management.

• Achieved AUD 3.6 million in annualized cost savings through operational rationalization, head office redundancies, and focus on non-critical roles and vendor costs.

• Acquisition pipeline remains robust, with AUD 127.7 million completed by 30 November 2025 and AUD 202 million targeted by FY26, supported by increased gearing ratio to 40%.

• Strategic integration and realignment of subsidiaries, with ongoing performance oversight and enhanced financial reporting.

• Broker hubbing and network expansion deliver cost base improvements and broader business reach.

Market Trends and Pricing Environment

• Commission and fee rates have remained stable or improved, with domestic fee rates rising from 6% to 8.8% and analytics used to access current market trends.

• Premium rates are tracking at 2.4% growth as of 30 November 2025, with some product lines seeing increases up to 7.8%.

• Renewals with rate decrease or no change are rising, reaching 39.86% in Q2 FY26, but renewal persistency remains strong with over 60% of renewals increasing in value.

Regulatory and Acquisition Environment

• Strengthened engagement with the ACCC, achieving faster acquisition clearances; 18 out of 20 applications received approval without objection.

• $128 million in Australasian acquisitions completed in FY26 to date, with 2 new acquisitions, 21 step-ups, and 13 bolt-ons; trapped capital pipeline projected to complete in FY26.