Financial Data and Key Metrics Changes - The company reported net flows of $15.8 billion for FY 2025, representing a 40.4% increase compared to the previous year [2][27] - Funds Under Administration (FUA) grew to a record $112.8 billion, a 28.2% increase [3][28] - Total income reached $324.4 million, reflecting a 27.1% increase year-on-year [3][28] - EBITDA was $163.5 million, with an EBITDA margin of 50.4%, up 3.2% from the previous year [3][28] - Net Profit After Tax (NPAT) increased by 39.8% to CAD 116.5 million [3][28] Business Line Data and Key Metrics Changes - Managed accounts grew by 33.5%, while managed funds increased by 21.9% [4] - Domestic trade volume rose by 28.5%, and international trade volume surged by 121.9% [5] - Ancillary fee income grew by 32.8% [8] Market Data and Key Metrics Changes - The company increased its market share to 8.7%, a 1.1% increase [18] - The platform market is growing at $1.2 trillion with a two-year CAGR of 10.2% [19] Company Strategy and Development Direction - The company aims to continue investing in wealth solutions, wealth tech, insights, and analytics [10][12] - A focus on enhancing digital experiences and user interfaces has been emphasized [12][13] - The company plans to launch new products tailored for high net worth and ultra-high net worth clients [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future growth, citing strong demand for complex financial advice and a robust pipeline of new advisory relationships [41][42] - The company anticipates maintaining strong net flows similar to the previous year [41][42] - There is a focus on leveraging technology and AI to improve efficiency and service delivery [21][22] Other Important Information - The company declared a final dividend of $0.21 per share, a 50% increase from the previous year [36] - The Rule of 40 score exceeded 77, indicating a strong combination of growth and profitability [36] Q&A Session Summary Question: Can you provide the actual number of flows? - Management indicated that the flows were in the vicinity of about 45% [47] Question: What drove the elevated trading fees? - Management noted that significant tailwinds from the shift to T+1 for U.S. equity settlements and elevated market volatility contributed to increased trading activity [50][51] Question: What is the organic growth rate from existing clients? - Management stated that most firms are experiencing organic growth rates between 15-20% [53] Question: How do you manage the intersection of growth and margin versus investment? - Management emphasized the importance of investing appropriately to maximize efficiencies while also pursuing growth opportunities [61] Question: What is the outlook for revenue margins into FY 2026? - Management expects some continuing trends but noted that transaction fee growth may not replicate the previous year's performance [108]

Financial Data and Key Metrics Changes - Net flows for FY 2025 were $15,800,000,000, a 40.4% increase from the prior corresponding period [2] - Funds under administration (FUA) grew to $112,800,000,000, a 28.2% increase [3] - Total income reached $324,400,000, representing a 27.1% increase [3] - EBITDA was $163,500,000, resulting in an EBITDA margin of 50.4%, a 3.2% increase from the previous year [3] - NPAT surged to CAD116.5 million, a 39.8% increase [3] Business Line Data and Key Metrics Changes - Managed accounts grew by 33.5%, while managed funds increased by 21.9% [4] - Domestic trade volume increased by 28.5%, and international trade volume surged by 121.9% [5] - Ancillary fee income grew by 32.8% [6] Market Data and Key Metrics Changes - The company’s market share increased to 8.7%, up 1.1% [18] - The platform market is growing at $1,200,000,000,000 with a two-year CAGR of 10.2% [18] - There are 7,200,000 Australians with complex financial circumstances seeking advice, with only 10,000 to 11,000 advisors available [19] Company Strategy and Development Direction - The company’s strategy focuses on wealth solutions, wealth tech, insights and analytics, and partnerships [9][10] - Plans to enhance digital capabilities and user experience through a major upgrade to the user interface [12][13] - The company aims to create capacity internally and reduce reliance on third-party systems [21] Management's Comments on Operating Environment and Future Outlook - The company expects strong flows and account growth, with a well-diversified pipeline [44] - Management is optimistic about new offerings and investments in key market segments [45] - The outlook for full net flows is expected to be similar to the previous year, with strong profitability and cash generation [46][47] Other Important Information - The company declared a final dividend that is 50% higher than the previous year, equating to a 90% payout ratio [37] - The company added over 80 employees, with 55% focused on growth initiatives [38] Q&A Session Summary Question: Can you provide the actual number of flows? - The exact number was not disclosed, but it was in the vicinity of about 45% [50] Question: What drove the elevated trading fees? - Significant tailwinds from the shift to T+1 for U.S. equity trading and elevated volatility contributed to increased transaction volumes [52][53] Question: What is the organic growth rate from existing clients? - Most firms are experiencing organic growth rates between 15-20% [55] Question: How do you manage the intersection of growth and margin versus investment? - The company aims to invest appropriately to maximize efficiencies while optimizing opportunities [63] Question: What are the expectations for revenue margins into FY 2026? - Transaction fees are expected to be good, but some one-off benefits from the previous year may not be replicated [104] Question: What is the outlook for operating expenses? - Expected operating expenses are around $190,000,000, excluding any potential impacts from ongoing investigations [75]

Results Presentation FY25 21 August 2025 See wealth differently For personal use only Disclaimer: This document is for general use. Modification of content is prohibited unless you have Netwealth's express prior written consent. Important notice and disclaimer General Information only Information provided is general information presented in a summary format as at 21 August 2025 and is therefore not necessarily complete. This presentation is for informational purposes only and is not to be relied upon as adv ...