Announcement PDF ASX ANNOUNCEMENT 18 February 2025 ASX: MYS s MyState delivers solid underlying net profit ahead of Auswide Bank merger 18 February 2025 – MyState Limited has continued to grow its new to bank customers and has strengthened its capital position in a challenging operating environment. Key highlights for the period: • • • • • • • • • • Customer deposits up 2.2% to $6.1 billion Home lending up 0.3% to $8.0 billion New to bank customers totaled 7,820 Strong net promoter score (NPS) +55 Net Interest Margin (NIM) 1.45%, steady on FY24 Total capital ratio up 60 bps to 17.0% Underlying net profit after tax1 $17.5 million, unchanged from pcp Underlying earnings per share1 15.8 cps, steady Statutory net profit after tax $15.9 million (includes merger transaction costs) Merged company Interim dividend 10.5 cps (payout ratio of 77% and 97% of pro forma Underlying and Statutory net profit after tax respectively) Managing Director and CEO Brett Morgan said, “MyState Limited has delivered a solid result in a challenging economic environment ahead of the merger with Auswide Bank, which will be implemented on 19 February 2025.” “We have continued to optimise the balance between growth and margin, grow new to bank customer numbers and maintain a strong customer advocacy NPS score of +55.” “Our lending book was largely stable in 1H25 and our customers continued to show resilience in the face of cost-of-living pressures. Our arrears rates remain below industry average with 90 plus days stable at 44 basis points.” “MyState’s capital position strengthened in 1H25 with the total capital ratio increasing by 60bps to 17.0%. This strong position provides us with capacity for future investment and growth.” The MyState Board has declared a fully franked Interim dividend of 10.5 cents per share payable on 21 March 2025 to shareholders on the register at the record date of 5 March 2025. The Board considered merger related transaction costs when declaring a dividend above its target range on a pro forma Statutory basis. The dividend is within the target range on a pro forma Underlying basis. The Dividend Reinvestment Plan (DRP) will be offered to shareholders with an election date of 6 March 2025. DRP shares will be issued at a discount of 1.5% to the volume weighted average price for the period 7 March to 13 March inclusive. Conference call details Investors and analysts are invited to join a teleconference call hosted by Brett Morgan, Managing Director and Chief Executive Officer and Gary Dickson, Chief Financial Officer on 19 February at 11 am AEST. Participants must register for the teleconference call at this link: MYS HY25 Investor Teleconference Call. The teleconference may also be joined by dialing 1800 809 971 and using the teleconference ID: 10044421. ENDS Authorised MyState Limited Board Contact Investor relations Adrian Mulcahy adrian.mulcahy@automicgroup.com.au +61 438 630 422 Media relations David Breen david.breen@mystate.com.au + 61 412 933 060 About MyState Limited Registered Office: 137 Harrington Street, Hobart 7000 MyState Limited (ABN 26 133 623 962) is the ASX-listed (MYS) non-operating holding company of the diversified financial services Group consisting of MyState Bank and TPT Wealth, a trustee and wealth management company. MyState Bank is regulated by the Australian Prudential Regulatory Authority. MyState Bank and TPT Wealth hold Australian Financial Services Licences issued by the Australian Securities and Investments Commission. APPENDIX Results summary for the six months to: 31 Dec 24 Change Net interest income ($m) 63.8 63.0 1.3% Group total operating income ($m) 77.0 75.8 1.6% Operating expenses 52.7 49.8 5.8% Pre-provision operating profit (Core earnings) 24.3 26.0 -6.6% Underlying net profit after tax ($m)1 17.5 17.5 0.0% Statutory net profit after tax ($m) 15.9 17.5 -8.9% Net interest margin (%) 1.45 1.46 -1bp Underlying earnings per share (cents)1 15.8 15.9 -0.7% Underlying return on average equity (%)1 7.5 7.7 -20bps Underlying return on tangible equity (%)1 9.2 9.3 -10bps Dividends per share – fully franked (cents) 10.5 11.5 -1.0cps Dividend payout ratio (%) 97.22 72.6 Increase As at the end of the reporting period: 31 Dec 24 ($m) 30 Jun 24 ($m) Change (%) Total assets 9,295.2 9,168.4 1.4% Net assets 469.7 464.9 1.0% Home loan book3 7,982.4 7,958.3 0.3% Customer deposits 6,070.8 5,928.1 2.4% 977 996 -1.9% Funds under management 1 Excludes merger related transaction costs 2. Calculated using MyState and Auswide statutory NPAT for 1HY25 on a pro forma basis 3 31 Dec 23 Excluding capitalised acquisition costs and credit loss provisions Note: Financial performance figures compare 1HY25 to 1HY24 as the previous corresponding period (pcp). Balance sheet and capital figures compare 30 June 2024 as pp. Percentages may not reconcile due to rounding. Auswide statutory NPAT for 1HY25 is unaudited.