Steadfast : Results Reporting Document

Steadfast Group Limited and controlled entities

Appendix 4D (rule 4.3A) Preliminary final report for the half year ended 31 December 2025 Results for announcement to the market

(All comparisons to half year ended 31 December 2024)

31 Dec 2025

$'m

Up/Down

$'m

Movement

%

Revenues from ordinary activities	900.7	121.0	16%
Underlying EBITA before non-trading items	293.6	32.9	13%
Net profit after tax attributable to shareholders (Statutory NPAT) (Note 1)	127.0	20.6	19%
Underlying net profit after tax attributable to shareholders (Underlying NPAT) (Note 1)	137.5	9.4	7%
Total comprehensive income attributable to shareholders	85.7	(26.7)	(24%)

Note 1:

The table below provides the reconciliation between statutory and underlying NPAT:

31 Dec 2025

$'m

31 Dec 2024

$'m

Statutory NPAT	127.0	106.4
Adjustments for non-trading items (net of tax and non-controlling interest):
Net deferred/contingent consideration expense (excluding Rothbury Group and Sure Insurance)	8.1	2.7
Net adjustment relating to Rothbury Group (Refer to Note 7E)	(17.0)1	-
Write downs and restructuring adjustments	17.0	(4.0)
Impairment expense	0.92	4.92
Mark-to-market losses from revaluation of listed and unlisted investments	-	8.4
Net adjustment related to Sure Insurance	-	1.63
Other movements	1.5	8.1
Underlying NPAT attributable to owners of Steadfast Group Limited	137.5	128.1

1. Includes deferred consideration remeasurement gain of $26.1 million and foreign exchange gain of $10.5 million, offset by discount unwinding expense of $5.7 million and impairment expense of $14.1 million ($13.9 million net of tax) pertaining to the accounting for the earnout and carrying value of Rothbury Group Limited (Rothbury Group).

2. Impairment expense of subsidiaries and associates excluding Sure Insurance Pty Ltd (Sure Insurance) and Rothbury Group.

3. Includes deferred/contingent consideration income of $35.8 million and impairment expense of $38.5 million ($37.4 million net of tax) pertaining to the accounting for the earnout and carrying value of Sure Insurance.

Some of the financial data in the table above is disclosed on an underlying basis to provide a more meaningful analysis of the Group's financial results from normal operating activities. The adjustments to statutory NPAT have been extracted from the books and records that have been reviewed. Underlying NPAT has been disclosed in accordance with ASIC's Regulatory Guide RG230.

Dividend information

Amount per

share Cents

Franked amount per

share Cents

Tax rate for franking credit

%

Interim 2026 dividend per share

8.20

8.20

30.0

Interim dividend dates

Ex-dividend date	2 March 2026
Record date	3 March 2026
Payment date	25 March 2026

The Company's Dividend Reinvestment Plan (DRP) will operate by the on-market purchase of shares. No discount will be applied. The last election notice for participation in the DRP in relation to this interim dividend is 4 March 2026.

A copy of the full terms and conditions for the DRP is available at http://investor.steadfast.com.au/Investor-Centre/?page=Dividends.

31 Dec 2025

$

30 Jun 2025

$

Net tangible liabilities per ordinary share*

(0.58)

(0.38)

* Net tangible liabilities per ordinary share are based on 1,111,991,628 shares on issue at 31 December 2025. There has been an increase of 5,700,953 in ordinary shares on issue since 30 June 2025.

Other information

At the end of the reporting period, Steadfast Group Limited held an interest in the following associates and joint ventures:

Ownership interest

%

Associates
Ausure Group Pty Ltd - associates thereof	23.30%
Baileys Premium Funding Limited	40.00%
Blackburn (Insurance Brokers) Pty Ltd	40.00%
Carson Risk Limited	35.00%
Centrewest Holdings Pty Limited - associates thereof	36.75%
Community Broker Network Pty Ltd - associates thereof	37.62%
Coverforce HoldCo Pty Ltd - associates thereof	33.25%
Flame Security International Pty Ltd and its subsidiaries	26.30%
HJS Unit Trust	33.33%
Insurance Brands Australia Pty Ltd - associates thereof	21.00%
J.D.I. (Young) Pty. Limited	25.00%
Johansen Insurance Brokers Pty. Ltd.	48.35%
Liability Brokers Pty Ltd	40.00%
McLardy McShane Insurance Brokers Pty Ltd	37.00%
McLardy McShane Partners Pty Ltd	37.00%
Meridian Lawyers Limited	25.00%
Origin Insurance Brokers Pty Ltd	49.00%
Prevail Insurance Group Pty Ltd - associates thereof	45.00%
Rothbury Group Limited - associates thereof	16.06%
RSM Build Pty Ltd	49.00%
RSM Group Pty Ltd	49.00%
RSM Tasmania Pty Ltd	49.00%
Seneca Insurance Brokers Limited	40.00%
Steadfast Life Pty Ltd and its subsidiaries	47.28%
Transport Plus Insurance Brokers Pty Ltd	49.00%
Watkins Insurance Brokers Pty Limited and its subsidiary	35.00%
Joint ventures
Abbott NZ Holdings Limited - joint ventures thereof	48.83%
BAC Insurance Brokers Pty Ltd and its subsidiary	50.00%
Coverforce HoldCo Pty Ltd - joint ventures thereof	49.95%
National Credit Insurance (Brokers) Pty Ltd - joint ventures thereof	33.88%
Network Insurance House Pty Ltd - joint ventures thereof	50.00%
Steadfast Risk Group Pty Ltd - joint ventures thereof	50.00%

The aggregate share of profits after tax of associates and joint ventures accounted for using the equity method is

$12.6 million (refer to Note 11 Share of associates and joint ventures' profit after income tax).

Additional Appendix 4D disclosure requirements can be found in the Directors' Report and the 31 December 2025 financial statements and accompanying notes.

This report is based on the consolidated interim financial report which has been reviewed by KPMG.

Attachment A

Steadfast Group Limited Half Year Report - 31 December 2025

Steadfast Group

Half Year Report 2026

Steadfast Group Halr Yeaí Repoít ?0?6 0Í

Diíectoís' Repoít	0«
OpeíatiÉg aÉd riÉaÉcial íe:iew	0
Ḻead Auditoí's IÉdepeÉdeÉce DeclaíatioÉ	07
CoÉsolidated statemeÉt or píorit oí loss aÉd oteeí compíeeeÉsi:e iÉcome	09
CoÉsolidated statemeÉt or riÉaÉcial positioÉ	ÍÍ
CoÉsolidated statemeÉt or ceaÉges iÉ equitQ	Í«
CoÉsolidated statemeÉt or case rlows	Í5
Жotes to tee riÉaÉcial statemeÉts	Í7
Diíectoís' declaíatioÉ	Í
IÉdepeÉdeÉt Auditoí's Re:iew Repoít	?
≤lossaíQ or teíms Coípoíate diíectoíQ	5

?0?6 H»lf Ye»í Repoít

0? Steadfast Group Halr Yeaí Repoít ?0?6

‌Hee Diíectoís píeseÉt teeií íepoít togeteeí wite tee coÉsolidated riÉaÉcial statemeÉts or Steadrast ≤íoup Ḻimited (Steadrast oí tee CompaÉQ), its subsidiaíies aÉd iÉteíests iÉ associates aÉd joiÉt :eÉtuíes (collecti:elQ Steadrast ≤íoup oí tee ≤íoup) roí tee ealr Qeaí eÉded 3P Decembeí ?0?5 (PH?6) aÉd tee IÉdepeÉdeÉt Auditoí's Re:iew Repoít teeíeoÉ.

Directors

Hee Diíectoís or tee CompaÉQ iÉ orrice at aÉQ time duíiÉg oí siÉce tee eÉd or tee riÉaÉcial peíiod aíe as rollows:

Name Date of appointment

Chair

Vicei AlleÉP P® Maíce ?0?P

Managing Director & CEO

Robeít eellQ AM P® Apíil P996

Other Directors

AÉdíew Blooíe P5 Жo:embeí ?0?3

JoaÉ CleaíQ ?® JulQ ?0??

Miceael ≤oodwiÉ 3P Octobeí ?0?5

≤ai Mc≤íate P JuÉe ?0P®

≤íeg RQÉeÉbeíg P0 August P99®

Former Director

FíaÉe O'HalloíaÉ AM (Ceaií)? ?P Octobeí ?0P?

ľ Vic½i €lle½ "as appoi½Fed as C½aií o½ 3ľ OcFobeí ?0?5.

? Iía½½ O'Halloía½ € íeFiíed o½ 3ľ OcFobeí ?0?5.

Steadfast Group Halr Yeaí Repoít ?0?6 0«

‌Operating and financial review
A. Operating results for the financial year
Hee tíadiÉg íesults roí tee ealr Qeaí aíe summaíised as rollows (íereí Жote aÉd Жote 5):
	«Í Eec ?0?5 $'m	«Í Eec ?0? $'m
StatutoíQ ЖPAH	127.0	P06.
AdjustmeÉts roí ÉoÉ-tíadiÉg items (Éet or tax aÉd ÉoÉ-coÉtíolliÉg iÉteíest):
Жet dereííed/coÉtiÉgeÉt coÉsideíatioÉ expeÉse (excludiÉg RotebuíQ ≤íoup aÉd Suíe IÉsuíaÉce)	8.1	?.7
Жet adjustmeÉt íelated to RotebuíQ ≤íoup (Rereí to Жote 7E)	(17.0)P	-
Wíite dowÉs aÉd íestíuctuíiÉg adjustmeÉts	17.0	( .0)
ImpaiímeÉt expeÉse	0.9?	.9?
Maíe-to-maíeet losses ríom íe:aluatioÉ or listed aÉd uÉlisted iÉ:estmeÉts	-	®.
Жet adjustmeÉt íelated to Suíe IÉsuíaÉce	-	P.63
Oteeí mo:emeÉts	1.5	®.P
mÉdeílQiÉg ЖPAH attíibutable to owÉeís or Steadrast ≤íoup Ḻimited	137.5	P?®.P
mÉdeílQiÉg diluted eaíÉiÉgs peí seaíe (EPS) (ceÉts peí seaíe)	12.	PP.6
StatutoíQ diluted EPS (ceÉts peí seaíe)	11.5	9.6

ľ I½cl½des dereííed co½sideíaFio½ íemeas½íeme½F gai½ or $?6.ľ millio½ a½d roíeig½ e"c½a½ge gai½ or $ľ0.5 millio½, orrseF bQ disco½½F ½½"i½di½g e"pe½se or $5.7 millio½ a½d impaiíme½F e"pe½se or $ľ½.ľ millio½ ($ľ3.9 millio½ ½eF or Fa") peíFai½i½g Fo F½e acco½½Fi½g roí F½e eaí½o½F a½d caííQi½g "al½e or ½oF½b½íQ Gío½p IimiFed (½oF½b½íQ Gío½p).

? Impaiíme½F e"pe½se or s½bsidiaíies a½d associaFes e"cl½di½g S½íe I½s½ía½ce PFQ IFd (S½íe I½s½ía½ce) a½d ½oF½b½íQ Gío½p.

3 I½cl½des dereííed/co½Fi½ge½F co½sideíaFio½ i½come or $35.D millio½ a½d impaiíme½F e"pe½se or $3D.5 millio½ ($37.½ millio½ ½eF or Fa") peíFai½i½g Fo F½e acco½½Fi½g roí F½e eaí½o½F a½d caííQi½g "al½e or S½íe I½s½ía½ce.

mÉdeílQiÉg ЖPAH was $P37.5 millioÉ compaíed wite $P?®.P millioÉ iÉ tee peíiod to 3P Decembeí ?0?

. Hee iÉcíease was maiÉlQ due to:

íe:eÉue gíowte ríom modeíate píice iÉcíeases bQ iÉsuíeís;

ruíteeí acquisitioÉs or iÉsuíaÉce iÉteímediaíQ busiÉesses, iÉcludiÉg Жo:um mÉdeíwíitiÉg PaítÉeís ḺḺC located iÉ tee mÉited States or Ameíica;

acquisitioÉ or additioÉal equitQ staees iÉ existiÉg iÉsuíaÉce iÉteímediaíQ busiÉesses; aÉd

a rull peíiod coÉtíibutioÉ ríom RotebuíQ ≤íoup aÉd oteeí busiÉesses acquiíed iÉ FY?5.

mÉdeílQiÉg ЖPAH íerlects tee basis upoÉ weice peíroímaÉce is measuíed aÉd moÉitoíed bQ tee Boaíd aÉd maÉagemeÉt. mÉdeílQiÉg ЖPAH eas beeÉ disclosed iÉ accoídaÉce wite ASIC's RegulatoíQ ≤uide R≤?30. Hee adjustmeÉts to píorit ea:e beeÉ extíacted ríom tee íe:iewed booes aÉd íecoíds. mÉdeílQiÉg ЖPAH is disclosed to pío:ide a moíe meaÉiÉgrul aÉalQsis or tee ≤íoup's riÉaÉcial íesults ríom Éoímal opeíatiÉg acti:ities.

B. Review of financial condition

1. Financial position

   
   
   

   DuíiÉg PH?6, total equitQ decíeased bQ $5P. millioÉ. Hotal compíeeeÉsi:e iÉcome or $PP3.7 millioÉ was orrset bQ tee paQmeÉt or tee riÉal FY?5 di:ideÉd. Fuíteeí, teeíe weíe íeductioÉs iÉ oteeí íeseí:es due to ceaÉges iÉ equitQ iÉteíests iÉ subsidiaíies ($®0.9 millioÉ). Heese mo:emeÉts aíose ríom tee accouÉtiÉg tíeatmeÉt applied to step-up acquisitioÉs, weeíe tee coÉsideíatioÉ paid to acquiíe additioÉal owÉeíseip iÉteíests exceeded tee existiÉg caííQiÉg :alue. Heis íerlects gíowte iÉ tee uÉdeílQiÉg busiÉesses betweeÉ tee oíigiÉal acquisitioÉ date aÉd tee subsequeÉt iÉcíease iÉ owÉeíseip.

   Debt díawdowÉs weíe deploQed oÉ acquisitioÉs teíougeout tee peíiod. Heese acquisitioÉs iÉcíeased goodwill aÉd ideÉtiriable iÉtaÉgibles bQ $P97.5 millioÉ aÉd $59.5 millioÉ íespecti:elQ, as detailed iÉ Жote P0 to tee riÉaÉcial statemeÉts. Debt díawdowÉs weíe also deploQed oÉ tee puícease or additioÉal equitQ iÉteíests iÉ existiÉg subsidiaíies.

   
   
   

   0 Steadfast Group Halr Yeaí Repoít ?0?6

2. Cash from operations

   Жet case iÉrlows ríom opeíatiÉg acti:ities or $P77.3 millioÉ (excludiÉg tíust accouÉt aÉd píemium ruÉdiÉg mo:emeÉts) íerlected coÉtiÉued rull coÉ:eísioÉ or píe tax píorits iÉto case rlows. Arteí ruÉdiÉg di:ideÉds to seaíeeoldeís, tee íemaiÉiÉg ríee case rlow is a:ailable roí coípoíate acti:ities, iÉcludiÉg rutuíe acquisitioÉs or busiÉess iÉteíests.

3. Capital management

At 3P Decembeí ?0?5, tee CompaÉQ ead P,PP?.0 millioÉ oídiÉaíQ seaíes oÉ issue, weice iÉcíeased ríom P,P06.3 millioÉ at 30 JuÉe

?0?5 due to tee issue or 5.7 millioÉ seaíes iÉ Septembeí ?0?5 uÉdeí tee Di:ideÉd ReiÉ:estmeÉt PlaÉ (DRP). Hee CompaÉQ coÉtiÉues to acquiíe seaíes oÉ maíeet to pío:ide roí rutuíe seaíe issues to emploQees, iÉcludiÉg eeQ maÉagemeÉt peísoÉÉel, uÉdeí equitQ-based iÉceÉti:e sceemes.

Hee ≤íoup le:eíages its equitQ iÉ suppoít or its gíowte stíategQ, aÉd duíiÉg PH?6, tee Boaíd uÉdeítooe a íe:iew or tee ≤íoup's geaíiÉg policQ as paít or its discipliÉed appíoace to capital maÉagemeÉt aÉd to eÉsuíe surricieÉt balaÉce-seeet capacitQ to suppoít oÉgoiÉg stíategic gíowte. Hee íe:iew coÉsideíed tee ≤íoup's stíategic objecti:es aÉd píe:ailiÉg maíeet coÉditioÉs. FollowiÉg teis íe:iew, tee Boaíd appío:ed aÉ updated geaíiÉg policQ, iÉcíeasiÉg tee maximum total geaíiÉg íatio to

0.0% (excludiÉg píemium ruÉdiÉg boííowiÉgs), up ríom 35.0% píe:iouslQ. At 3P Decembeí ?0?5 tee ≤íoup's geaíiÉg íatio was 33. % (30 JuÉe ?0?5: ?®.6%, íestated to íerlect tee cuííeÉt basis or calculatioÉ). Rereí to Жote 9C.

DuíiÉg PH?6, tee ≤íoup eÉteíed iÉto $P®0.0 millioÉ or Éew bilateíal loaÉ racilities. Hee ≤íoup's racilities ea:e a combiÉatioÉ or teíee, rouí, ri:e aÉd se:eÉ Qeaí tíaÉcees, weice iÉcíeased capacitQ to $P,0®0.0 millioÉ, aloÉg wite aÉ existiÉg Éotes racilitQ to access a ruíteeí $?00.0 millioÉ. At 3P Decembeí ?0?5, tee ≤íoup ead loaÉ racilities teat matuíe iÉ ?0?®, ?0?9, ?030 aÉd ?03?, wite aÉ uÉutilised amouÉt or $?06.? millioÉ a:ailable. Heeíe is also tee abilitQ to access aÉ accoídioÉ racilitQ roí a ruíteeí $300.0 millioÉ aÉd a Éotes seelr racilitQ roí $P?5.0 millioÉ, bote or weice aíe uÉcommitted.

At 3P Decembeí ?0?5, tee Waíeeouse Híust limit roí Iʘumulate Píemium FuÉdiÉg PtQ Ḻtd (Iʘumulate) was $7®0.0 millioÉ (iÉcludiÉg a $60.0 millioÉ o:eídíart racilitQ) wite aÉ a:ailabilitQ peíiod to JulQ ?0?6. Hee píemium ruÉdiÉg boííowiÉgs, secuíed píimaíilQ bQ tee píemium ruÉdiÉg íecei:ables, ea:e a oÉe-Qeaí teím (íeÉewed oÉ aÉ aÉÉual basis) to attíact a loweí cost or boííowiÉg, weice is staÉdaíd commeícial píactice roí teis sectoí. Weilst tee coÉtíactual a:ailabilitQ peíiod eÉds iÉ JulQ ?0?6, tee píemium ruÉdiÉg boííowiÉgs ea:e beeÉ classiried as ÉoÉ-cuííeÉt iÉ tee statemeÉt or riÉaÉcial positioÉ as tee coÉtíactual matuíitQ date iÉcludes aÉ amoítisatioÉ peíiod, gi:iÉg tee ≤íoup P? moÉtes to íepaQ ríom tee date or tee last matuíiÉg píemium ruÉdiÉg loaÉ iÉ tee Waíeeouse Híust. Iʘumulate also eas aÉ additioÉal racilitQ a:ailable or $70.9 millioÉ ЖZD.

Hee coípoíate debt aÉd píemium ruÉdiÉg racilities aíe Éot cíoss collateíalised.

Events after the reporting period

SubsequeÉt to 3P Decembeí ?0?5, tee Boaíd declaíed aÉ iÉteíim di:ideÉd or ®.? ceÉts peí seaíe, rullQ ríaÉeed. Hee di:ideÉd will be paid oÉ ?5 Maíce ?0?6.

Steadfast Group Halr Yeaí Repoít ?0?6 05

Directors' Report continued

Likely developments

Hee ≤íoup's stíategQ is to gíow seaíeeoldeí :alue teíouge maiÉtaiÉiÉg aÉd gíowiÉg its maíeet positioÉ bote oígaÉicallQ aÉd teíouge acquisitioÉs, wite a coíe rocus oÉ geÉeíal iÉsuíaÉce iÉteímediatioÉ. Details aíe pío:ided iÉ tee stíategQ aÉd píospects sectioÉ or tee Diíectoís' Repoít iÉ tee AÉÉual Repoít roí tee Qeaí eÉded 30 JuÉe ?0?5.

OÉ PP FebíuaíQ, Steadrast ad:ised tee maíeet or ceaÉges iÉ its segmeÉt disclosuíes errecti:e ríom HY?6, iÉcludiÉg a íeriÉemeÉt to tee calculatioÉ or tee ≤íoup's uÉdeílQiÉg EBIHA aÉd ЖPAHA. Heese ceaÉges aíe píeseÉtatioÉal iÉ Éatuíe aÉd do Éot íerlect aÉQ ceaÉges to tee uÉdeílQiÉg peíroímaÉce or tee busiÉess.

Hee rollowiÉg ceaÉges aíe iÉcluded iÉ tee calculatioÉ or tee uÉdeílQiÉg EBIHA aÉd ЖPAHA:

amoítisatioÉ is added bace oÉ a Éet-or-tax basis;

computeí sortwaíe amoítisatioÉ is iÉcluded witeiÉ amoítisatioÉ íateeí teaÉ witeiÉ oteeí expeÉses; aÉd

tee ≤íoup íecogÉises its seaíe or íesults ríom associates aÉd joiÉt :eÉtuíes at tee ЖPAHA le:el, íateeí teaÉ at tee EBIHA le:el.

Heese ceaÉges laígelQ orrset eace oteeí aÉd do Éot arrect tee ≤íoup's uÉdeílQiÉg riÉaÉcial peíroímaÉce oí outlooe. AccoídiÉglQ, tee Boaíd íearriíms tee ≤íoup's FY?6 guidaÉce, wite Éo ceaÉge to tee oíigiÉal guidaÉce statemeÉt:

mÉdeílQiÉg ЖPAHA or $365.0 millioÉ to $375.0 millioÉ

mÉdeílQiÉg ЖPAH or $3P5.0 millioÉ to $3?5.0 millioÉ

mÉdeílQiÉg EBIHA or $650.0 millioÉ to $665.0 millioÉ

mÉdeílQiÉg diluted EPS (ЖPAH) gíowte or 6% to P0% Hee guidaÉce is subject to tee rollowiÉg eeQ assumptioÉs:

Aceie:iÉg ?% - 3% iÉcíease iÉ píiciÉg or iÉsuíaÉce píemiums iÉ Austíalia; aÉd

PíiÉcipal eeQ íises aÉd uÉceítaiÉties aíe set out iÉ tee ?0?5 AÉÉual Repoít (pages 50 to 5?).

Environmental regulation

Hee ≤íoup's opeíatioÉs aíe Éot subject to aÉQ paíticulaí sigÉiricaÉt eÉ:iíoÉmeÉtal íegulatioÉs uÉdeí a law or tee CommoÉwealte oí uÉdeí State oí HeííitoíQ legislatioÉ.

Lead Auditor's Independence Declaration

Hee Ḻead Auditoí's IÉdepeÉdeÉce DeclaíatioÉ is set out oÉ page 7 aÉd roíms paít or tee Diíectoís' Repoít roí PH?6.

Rounding

Hee ≤íoup is or tee eiÉd íereííed to iÉ tee ASIC CoípoíatioÉs (RouÉdiÉg iÉ FiÉaÉcial/Diíectoís' Repoíts) IÉstíumeÉt ?0P6/P9P issued bQ tee AustíaliaÉ Secuíities h IÉ:estmeÉts CommissioÉ. IÉ accoídaÉce wite teat IÉstíumeÉt, amouÉts iÉ tee Diíectoís' Repoít aÉd riÉaÉcial íepoít ea:e beeÉ íouÉded to tee Éeaíest euÉdíed teousaÉd dollaís, uÉless oteeíwise stated.

SigÉed at SQdÉeQ oÉ ? FebíuaíQ ?0?6 iÉ accoídaÉce wite a íesolutioÉ or tee Diíectoís.

Vicki Allen

Ceaií

Robert Kelly AM

MaÉagiÉg Diíectoí h CEO

06 Steadfast Group Halr Yeaí Repoít ?0?6

‌Lead Auditor's Independence Declaration under Section 307C of the Corporations Act 2001

To the Directors of Steadfast Group Limited

I declare that, to the best of my knowledge and belief, in relation to the review of Steadfast Group Limited for the half-year ended 31December 2025 there have been:

1. no contraventions of the auditor independence requirements as set out in the

   Corporations Act 2001 in relation to the review; and

2. no contraventions of any applicable code of professional conduct in relation to the review.

KPMG David Kells

Partner

Sydney

24 February 2026

KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation.

Steadfast Group Halr Yeaí Repoít ?0?6 07

At Ste»df»st, we »íe committed to sust»im»ble gíowth, lomg-teím peífoím»mce »md stíomg íetuíms foí st»keholdeís.

0® Steadfast Group Halr Yeaí Repoít ?0?6

‌Foí tee ealr Qeaí eÉded 3P Decembeí ?0?5

Notes	«Í Eec ?0?5 $'m	«Í Eec ?0? $'m
Fee aÉd commissioÉ iÉcome	90 .1	773.6
Ḻess: bíoeeíage commissioÉ paid	(169.8)	(P5P.®)
Жet ree aÉd commissioÉ iÉcome	73 .3	6?P.®
Píemium ruÉdiÉg iÉteíest iÉcome	69.1	67.3
Seaíe or píorits or associates aÉd joiÉt :eÉtuíes PP	12.6	P7.®
Faií :alue loss oÉ listed iÉ:estmeÉts	-	(P?.P)
Жet gaiÉ ríom ceaÉge iÉ owÉeíseip iÉ equitQ busiÉesses aÉd dereííed/ coÉtiÉgeÉt coÉsideíatioÉ	3 .3	.
IÉteíest iÉcome	29.6	3?.9
Oteeí iÉcome	20.8	7.6
Total income net of brokerage commission paid	900.7	779.7
EmploQmeÉt expeÉse	(389.6)	(3?9.0)
OpeíatiÉg, bíoeeís' suppoít seí:ice aÉd oteeí expeÉses	(116.5)	(P0 .6)
SelliÉg expeÉse	( 5.5)	( 3.?)
AmoítisatioÉ expeÉse 7	(38.9)	(36.?)
DepíeciatioÉ expeÉse	(17. )	(P5.P)
ImpaiímeÉt expeÉse 7,PP	(15.0)	( 3.6)
FiÉaÉce cost	(38. )	(3P.5)
Total expenses	(661.3)	(603.?)
Profit before income tax expense	239.	P76.5
IÉcome tax expeÉse	(8 . )	( 9.7)
Profit after income tax expense for the financial period	155.0	P?6.®
PROFIT FOR THE FINANCIAL PERIOD IS ATTRIBUTABLE TO:
ЖoÉ-coÉtíolliÉg iÉteíests	28.0	?0.
OwÉeís or Steadrast ≤íoup Ḻimited	127.0	P06.
	155.0	P?6.®

Steadfast Group Halr Yeaí Repoít ?0?6 09

Notes	«Í Eec ?0?5 $'m	«Í Eec ?0? $'m
OTHER COMPREHENSIVE (LOSS) INCOME
Items that may be reclassified subsequently to profit or loss
Жet mo:emeÉt iÉ roíeigÉ cuííeÉcQ tíaÉslatioÉ íeseí:e	( 1.3)	7.0
Case rlow eedge errecti:e poítioÉ or ceaÉge iÉ raií :alue	-	(P. )
IÉcome tax beÉerit oÉ oteeí compíeeeÉsi:e iÉcome	-	0.
Hotal oteeí compíeeeÉsi:e (loss) iÉcome roí tee riÉaÉcial peíiod, Éet or tax	( 1.3)	6.0
Total comprehensive income for the financial period, net of tax	113.7	P3?.®
TOTAL COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD IS ATTRIBUTABLE TO:
ЖoÉ-coÉtíolliÉg iÉteíests	28.0	?0.
OwÉeís or Steadrast ≤íoup Ḻimited	85.7	PP?.
	113.7	P3?.®
EARNINGS PER SHARE
Basic eaíÉiÉgs peí seaíe (ceÉts peí seaíe) 5	11.5	9.6
Diluted eaíÉiÉgs peí seaíe (ceÉts peí seaíe) 5	11.5	9.6

Hee abo:e coÉsolidated statemeÉt or píorit oí loss aÉd oteeí compíeeeÉsi:e iÉcome seould be íead iÉ coÉjuÉctioÉ wite tee Éotes to tee riÉaÉcial statemeÉts.

Í0 Steadfast Group Halr Yeaí Repoít ?0?6

‌Notes	«Í Eec ?0?5 $'m	«0 J n ?0?5 $'m
ASSETS
Current assets
Case aÉd case equi:aleÉts	28.1	30.®
Case eeld oÉ tíust	1,323.0	P,P7P.5
Híade aÉd oteeí íecei:ables P?	315.7	3 9.®
Píemium ruÉdiÉg íecei:ables P?	911.0	®00.0
Oteeí	0.3	?®.3
Hotal cuííeÉt assets	3,018.1	?,7®0.
Non-current assets
≤oodwill 7	2,857.	?,706.9
IÉtaÉgible assets 7	87.0	6P.0
IÉ:estmeÉts iÉ associates aÉd joiÉt :eÉtuíes PP	163.9	P7?.?
PíopeítQ, plaÉt aÉd equipmeÉt	70.	7?.P
Riget-or-use assets	116.5	®5.
ExteíÉal seaíeeoldeí loaÉs	2.3	®.P
ḺoaÉs to associates aÉd joiÉt :eÉtuíes	2.2	?.?
Oteeí riÉaÉcial assets	3.6	3.9
Dereííed tax assets	69.5	63.?
Oteeí	31.	?6.6
Hotal ÉoÉ-cuííeÉt assets	3,8 .2	3,6 P.6
Total assets	6,862.3	6, ??.0

Steadfast Group Halr Yeaí Repoít ?0?6 ÍÍ

Notes	«Í Eec ?0?5 $'m	«0 J n ?0?5 $'m
LIABILITIES
Current liabilities
PaQables oÉ bíoeiÉg/uÉdeíwíitiÉg ageÉcQ opeíatioÉs	1,28 .0	P,P3®.7
Híade aÉd oteeí liabilities	211.	?P®.?
Píemium ruÉdiÉg paQables	250.5	? 5.6
Coípoíate aÉd subsidiaíQ boííowiÉgs ®	7 .7	7 .3
Píemium ruÉdiÉg boííowiÉgs ®	.7	39.3
Ḻease liabilities	26.2	?3.3
Dereííed/coÉtiÉgeÉt coÉsideíatioÉ P0	1 6.8	P59.9
Pío:isioÉs	71.	76.6
IÉcome tax paQable	.6	P9.5
Hotal cuííeÉt liabilities	2,15 .3	P,995.
Non-current liabilities
Coípoíate aÉd subsidiaíQ boííowiÉgs ®	1,081.3	®®3.9
Píemium ruÉdiÉg boííowiÉgs ®	638.3	537.P
Dereííed tax liabilities	190.9	P9®.P
Ḻease liabilities	100.2	7P.9
Pío:isioÉs	15.5	P .7
Dereííed/coÉtiÉgeÉt coÉsideíatioÉ P0	10 .9	9?.5
Oteeí	0.1	0.?
Hotal ÉoÉ-cuííeÉt liabilities	2,131.2	P,79®.
Total liabilities	,285.5	3,793.®
Net assets	2,576.8	?,6?®.?
EQUITY
Seaíe capital 9	2,327.	?,?93.3
HíeasuíQ seaíes eeld iÉ tíust 9	(16.7)	(P®.0)
Re:aluatioÉ íeseí:e	12.1	P?.P
Oteeí íeseí:es	(333.1)	(??7.5)
RetaiÉed eaíÉiÉgs	33 .3	336.7
EquitQ attíibutable to tee owÉeís or Steadrast ≤íoup Ḻimited	2,32 .0	?,396.6
ЖoÉ-coÉtíolliÉg iÉteíests	252.8	?3P.6
Total equity	2,576.8	?,6?®.?

Hee abo:e coÉsolidated statemeÉt or riÉaÉcial positioÉ seould be íead iÉ coÉjuÉctioÉ wite tee Éotes to tee riÉaÉcial statemeÉts.

Í? Steadfast Group Halr Yeaí Repoít ?0?6

Foí tee ealr Qeaí eÉded 3P Decembeí ?0?5

‌«Í Eec ?0?5	Eq itQ attíib table to owneís of Steadfast Gío p Limited						Non-contíolling inteíests $'m	Hotal eq itQ $'m
	Seaíe capital $'m	Híeas íQ seaíes eeld in tí st $'m	Re:al- ation íeseí:e $'m	Oteeí íeseí:es $'m	Retained eaínings $'m	Hotal $'m
BalaÉce at P JulQ ?0?5	2,293.3	(18.0)	12.1	(227.5)	336.7	2,396.6	231.6	2,628.2
Píorit arteí iÉcome tax expeÉse	-	-	-	-	127.0	127.0	28.0	155.0
Oteeí compíeeeÉsi:e loss, Éet or tax	-	-	-	( 1.3)	-	( 1.3)	-	( 1.3)
Hotal compíeeeÉsi:e (loss) iÉcome	-	-	-	( 1.3)	127.0	85.7	28.0	113.7
TRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS:
Issue or seaíe capital (Жote 9)	3 .1	-	-	-	-	3 .1	-	3 .1
Seaíes acquiíed aÉd eeld iÉ tíust (Жote 9)	-	(3.3)	-	-	-	(3.3)	-	(3.3)
Seaíe-based paQmeÉts	-	-	-	(0.1)	-	(0.1)	-	(0.1)
Seaíes allocated (allotted) (Жote 9)	-	.6	-	( .7)	-	(0.1)	-	(0.1)
ЖoÉ-coÉtíolliÉg iÉteíests or acquiíed eÉtities (Жote P0)	-	-	-	-	-	-	11.8	11.8
Re:aluatioÉs aÉd exeícise or put optioÉs o:eí ÉoÉ-coÉtíolliÉg iÉteíests (Жote P0≤)	-	-	-	21.	-	21.	-	21.
CeaÉge iÉ owÉeíseip iÉteíests iÉ subsidiaíies witeout loss or coÉtíol	-	-	-	(80.9)	-	(80.9)	16.1	(6 .8)
Di:ideÉd declaíed aÉd paid (Жote 6)	-	-	-	-	(129. )	(129. )	(3 .7)	(16 .1)
BalaÉce at 3P Decembeí ?0?5	2,327.	(16.7)	12.1	(333.1)	33 .3	2,32 .0	252.8	2,576.8

Steadfast Group Halr Yeaí Repoít ?0?6 Í«

«Í Eec ?0?	Eq itQ attíib table to owneís of Steadfast Gío p Limited						Non-contíolling inteíests $'m	Hotal eq itQ $'m
	Seaíe capital $'m	Híeas íQ seaíes eeld in tí st $'m	Re:al- ation íeseí:e $'m	Oteeí íeseí:es $'m	Retained eaínings $'m	Hotal $'m
BalaÉce at P JulQ ?0?	?,?93.3	(P6.9)	P?.P	(P6P.?)	?0?.6	?,3?9.9	?3®.3	?,56®.?
Píorit arteí iÉcome tax expeÉse	-	-	-	-	P06.	P06.	?0.	P?6.®
Oteeí compíeeeÉsi:e iÉcome, Éet or tax	-	-	-	6.0	-	6.0	-	6.0
Hotal compíeeeÉsi:e iÉcome	-	-	-	6.0	P06.	PP?.	?0.	P3?.®
TRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS:
Seaíes acquiíed aÉd eeld iÉ tíust	-	(®.?)	-	-	-	(®.?)	-	(®.?)
Seaíe-based paQmeÉts	-	-	-	3.5	-	3.5	-	3.5
Seaíes allocated (allotted)	-	6.5	-	(6.7)	-	(0.?)	-	(0.?)
ЖoÉ-coÉtíolliÉg iÉteíests or acquiíed eÉtities	-	-	-	-	-	-	0.5	0.5
Re:aluatioÉs or put optioÉs o:eí ÉoÉ-coÉtíolliÉg iÉteíests	-	-	-	0.3	-	0.3	-	0.3
CeaÉge iÉ owÉeíseip iÉteíests iÉ subsidiaíies witeout loss or coÉtíol	-	-	-	(37.3)	-	(37.3)	(3P.6)	(6®.9)
Di:ideÉd declaíed aÉd paid (Жote 6)	-	-	-	-	(PP .5)	(PP .5)	(?®.5)	(P 3.0)
BalaÉce at 3P Decembeí ?0?	?,?93.3	(P®.6)	P?.P	(P95. )	P9 .5	?,?®5.9	P99.P	?, ®5.0

Hee abo:e coÉsolidated statemeÉt or ceaÉges iÉ equitQ seould be íead iÉ coÉjuÉctioÉ wite tee Éotes to tee riÉaÉcial statemeÉts.

Í Steadfast Group Halr Yeaí Repoít ?0?6

Foí tee ealr Qeaí eÉded 3P Decembeí ?0?5

‌Notes	«Í Eec ?0?5 $'m	«Í Eec ?0? $'m
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts ríom customeís	970.2	®5®.P
PaQmeÉts to supplieís, emploQees aÉd Жetwoíe bíoeeí íebates	(713.7)	(603.?)
Di:ideÉds íecei:ed ríom associates aÉd joiÉt :eÉtuíes	12.	P6.P
IÉteíest íecei:ed	30.0	3?.9
IÉteíest aÉd oteeí riÉaÉce costs paid	( 2.3)	(3P.3)
Жet case ríom opeíatiÉg acti:ities beroíe tax, customeí tíust accouÉt aÉd píemium ruÉdiÉg mo:emeÉts	256.6	?7?.6
IÉcome taxes paid	(79.3)	(®7.7)
Net cash from operating activities before customer trust account and premium funding movements	177.3	P® .9
Жet case outrlow to píemium ruÉdiÉg customeís	(111.0)	(59.5)
Жet mo:emeÉt iÉ customeí tíust accouÉts (Éet case íeceipts/paQmeÉts oÉ beealr or customeís)	129.5	3®.9
Net cash from operating activities P5	195.8	P6 .3
CASH FLOWS FROM INVESTING ACTIVITIES
PaQmeÉts roí acquisitioÉs or subsidiaíies aÉd busiÉess assets	(127.2)	(7®. )
Case acquiíed ríom acquisitioÉs or subsidiaíies aÉd busiÉess assets P0	29.5	57.3
PaQmeÉts roí iÉ:estmeÉts iÉ associates aÉd joiÉt :eÉtuíes PP	(2.3)	(6.P)
PaQmeÉts roí step-up iÉ:estmeÉt iÉ subsidiaíies aÉd íestíuctuíes	(96.0)	(7?.0)
Di:ideÉds íecei:ed ríom listed iÉ:estmeÉt	-	0.5
Píoceeds oÉ sale or seaíes iÉ listed iÉ:estmeÉts	-	P7.3
PaQmeÉts or dereííed/coÉtiÉgeÉt coÉsideíatioÉ roí subsidiaíies, associates aÉd busiÉess assets P0	(22.8)	(5 .6)
Píoceeds ríom disposal or iÉ:estmeÉt iÉ subsidiaíies, Éet or case disposed	.2	-
Píoceeds ríom paít disposal or iÉ:estmeÉt iÉ subsidiaíies aÉd íestíuctuíes, Éet or case disposed	11.3	®.3
Píoceeds ríom disposal or iÉ:estmeÉt iÉ associates	2.0	-
PaQmeÉts roí píopeítQ, plaÉt aÉd equipmeÉt	(2.8)	(3.?)
PaQmeÉts roí customeí íelatioÉseips	(2.0)	(?.P)
Net cash used in investing activities	(206.1)	(P33.0)

Steadfast Group Halr Yeaí Repoít ?0?6 Í5

Notes	«Í Eec ?0?5 $'m	«Í Eec ?0? $'m
CASH FLOWS FROM FINANCING ACTIVITIES
Di:ideÉds paid to owÉeís or Steadrast	(95.3)	(PP .5)
Di:ideÉds paid to ÉoÉ-coÉtíolliÉg iÉteíests	(3 .7)	(?®.5)
Píoceeds ríom boííowiÉgs (excludiÉg píemium ruÉdiÉg) ®	227.9	?7?.5
RepaQmeÉt or boííowiÉgs (excludiÉg píemium ruÉdiÉg) ®	(27.6)	(P05.3)
Жet case iÉrlow ríom píemium ruÉdiÉg boííowiÉgs ®	106.6	P? .7
PaQmeÉts roí puícease or tíeasuíQ seaíes 9	(3.3)	(®.?)
Píoceeds ríom íepaQmeÉt or íelated paítQ loaÉs	2.2	3.7
PaQmeÉts roí íelated paítQ loaÉs	( .2)	(?.6)
Píoceeds ríom íepaQmeÉt or ÉoÉ-íelated paítQ loaÉs	1.5	?.®
PaQmeÉts roí ÉoÉ-íelated paítQ loaÉs	(0.9)	(P.®)
PaQmeÉt or lease liabilities	(12.6)	(9. )
Net cash from financing activities	159.6	P33.
Жet iÉcíease iÉ case aÉd case equi:aleÉts	1 9.3	P6 .7
Case aÉd case equi:aleÉts at tee begiÉÉiÉg or tee riÉaÉcial peíiod	1,602.3	P,3?6.
Errect or mo:emeÉts iÉ exceaÉge íates oÉ case eeld	(0.5)	(0.5)
Cash and cash equivalents at the end of the financial period	1,751.1	P, 90.6

Hee abo:e coÉsolidated statemeÉt or case rlows seould be íead iÉ coÉjuÉctioÉ wite tee Éotes to tee riÉaÉcial statemeÉts.

Í6 Steadfast Group Halr Yeaí Repoít ?0?6

Foí tee ealr Qeaí eÉded 3P Decembeí ?0?5

‌Note 1. General information

Heis geÉeíal puípose iÉteíim riÉaÉcial íepoít roí tee ealr Qeaí eÉded 3P Decembeí ?0?5 compíises tee coÉsolidated riÉaÉcial statemeÉts roí Steadrast ≤íoup Ḻimited (Steadrast oí tee CompaÉQ) aÉd its subsidiaíies aÉd tee ≤íoup's iÉteíests iÉ associates aÉd joiÉt :eÉtuíes (Steadrast ≤íoup oí tee ≤íoup). Heese riÉaÉcial statemeÉts aíe píeseÉted iÉ AustíaliaÉ dollaís, weice is Steadrast's ruÉctioÉal aÉd píeseÉtatioÉ cuííeÉcQ.

Hee CompaÉQ is a roí-píorit listed public compaÉQ limited bQ seaíes, weice is iÉcoípoíated aÉd domiciled iÉ Austíalia. Its íegisteíed orrice aÉd píiÉcipal place or busiÉess is Ḻe:el

, 99 Bateuíst Stíeet, SQdÉeQ ЖSW ?000.

Heis iÉteíim riÉaÉcial íepoít was auteoíised roí issue bQ tee Boaíd oÉ ? FebíuaíQ ?0?6.

Heis íepoít seould be íead iÉ coÉjuÉctioÉ wite tee aÉÉual riÉaÉcial íepoít roí tee Qeaí eÉded 30 JuÉe ?0?5 aÉd aÉQ public aÉÉouÉcemeÉts made bQ tee CompaÉQ duíiÉg tee ealr Qeaí íepoítiÉg peíiod iÉ accoídaÉce wite tee coÉtiÉuous disclosuíe íequiíemeÉts or tee CoípoíatioÉs Act ?00P.

Note 2. Material accounting policies

1. Statement of compliance

   
   
   

   Heis iÉteíim riÉaÉcial íepoít is a geÉeíal puípose riÉaÉcial íepoít píepaíed iÉ accoídaÉce wite AASB P3 IÉteíim FiÉaÉcial RepoítiÉg, tee CoípoíatioÉs Act ?00P, aÉd tee AustíaliaÉ Secuíities ExceaÉge (ASX) ḺistiÉg Rules.

   It does Éot iÉclude all or tee iÉroímatioÉ íequiíed roí a complete set or aÉÉual riÉaÉcial statemeÉts. Howe:eí, selected explaÉatoíQ Éotes aíe iÉcluded to explaiÉ e:eÉts aÉd tíaÉsactioÉs teat aíe sigÉiricaÉt to aÉ uÉdeístaÉdiÉg or tee ceaÉges iÉ tee ≤íoup's riÉaÉcial positioÉ aÉd peíroímaÉce siÉce tee last aÉÉual coÉsolidated riÉaÉcial statemeÉts as at aÉd roí tee Qeaí eÉded 30 JuÉe ?0?5.

2. Basis of preparation of the financial report

   Hee mateíial accouÉtiÉg policies adopted iÉ tee píepaíatioÉ or teis ealr Qeaí íepoít ea:e beeÉ applied coÉsisteÉtlQ bQ all eÉtities iÉ tee ≤íoup aÉd aíe tee same as teose applied aÉd disclosed iÉ tee CompaÉQ's most íeceÉt aÉÉual riÉaÉcial íepoít uÉless oteeíwise Éoted. Heese iÉteíim riÉaÉcial statemeÉts ea:e beeÉ píepaíed uÉdeí tee eistoíical cost coÉ:eÉtioÉ, modiried, weeíe applicable, bQ tee measuíemeÉt at raií :alue or ceítaiÉ ÉoÉ-cuííeÉt assets, riÉaÉcial assets aÉd riÉaÉcial liabilities.

   I. Rounding

   Hee ≤íoup is or tee eiÉd íereííed to iÉ tee ASIC CoípoíatioÉs (RouÉdiÉg iÉ FiÉaÉcial/Diíectoís' Repoíts) IÉstíumeÉt ?0P6/P9P issued bQ tee AustíaliaÉ Secuíities aÉd IÉ:estmeÉts CommissioÉ. IÉ accoídaÉce wite teat IÉstíumeÉt, amouÉts iÉ teis iÉteíim riÉaÉcial íepoít ea:e beeÉ íouÉded to tee Éeaíest euÉdíed teousaÉd dollaís, uÉless oteeíwise stated.

3. New and amended standards adopted by the Group

   Hee ≤íoup eas adopted tee rollowiÉg ameÉdiÉg AustíaliaÉ AccouÉtiÉg StaÉdaíds aÉd IÉteípíetatioÉs issued bQ tee AustíaliaÉ AccouÉtiÉg StaÉdaíds Boaíd teat aíe maÉdatoíQ roí tee ealr Qeaí eÉded 3P Decembeí ?0?5. AdoptioÉ or tee staÉdaíd eas Éot ead aÉQ mateíial errect oÉ tee riÉaÉcial positioÉ oí peíroímaÉce or tee ≤íoup.

   Hitle Eescíiption

   AASB ?0?3-5 AmeÉdmeÉts to AustíaliaÉ AccouÉtiÉg StaÉdaíds - Ḻace or ExceaÉgeabilitQ

   Steadfast Group Halr Yeaí Repoít ?0?6 Í7

4. Australian Accounting Standards issued and not yet effective

Hee ≤íoup eas Éot eaílQ adopted aÉd applied aÉQ Éew, íe:ised oí ameÉdiÉg AustíaliaÉ AccouÉtiÉg StaÉdaíds aÉd IÉteípíetatioÉs teat aíe Éot maÉdatoíQ roí tee riÉaÉcial Qeaí eÉdiÉg 30 JuÉe ?0?6.

Hee ≤íoup iÉteÉds to adopt Éew, íe:ised oí ameÉdiÉg AustíaliaÉ AccouÉtiÉg StaÉdaíds aÉd IÉteípíetatioÉs iÉ tee opeíatiÉg Qeaí commeÉciÉg P JulQ arteí tee errecti:e date or teese staÉdaíds aÉd iÉteípíetatioÉs as set out iÉ tee table below. AdditioÉal

disclosuíes as a íesult or adoptiÉg teese Éew accouÉtiÉg staÉdaíds will be pío:ided iÉ accoídaÉce wite tee disclosuíe íequiíemeÉts. Hee ≤íoup does Éot expect aÉQ mateíial impact oÉ tee riÉaÉcial positioÉ oí peíroímaÉce or tee ≤íoup as a íesult or applQiÉg tee Éew accouÉtiÉg staÉdaíds.

Hitle		Eescíiption	Effecti:e date	Opeíating Qeaí
AASB ?0?	-?P	AmeÉdmeÉts to AustíaliaÉ AccouÉtiÉg StaÉdaíds - ClassiricatioÉ aÉd MeasuíemeÉt or FiÉaÉcial IÉstíumeÉts	P JaÉuaíQ ?0?6	30 JuÉe ?0?7
AASB P®?		PíeseÉtatioÉ aÉd Disclosuíe iÉ FiÉaÉcial StatemeÉts	P JaÉuaíQ ?0?7	30 JuÉe ?0?®

ľ €€SB ?0?½-? ame½ds €€SB 9 Ii½a½cial I½sFí½me½Fs a½d €€SB 7 Ii½a½cial I½sFí½me½Fs: Disclos½íes Fo i½cl½de ½e" íeq½iíeme½Fs, "½ic½ "ill alFeí F½e Fimi½g or deíecog½iFio½ or F½e Gío½p's liabiliFies a½d co½ld lead Fo ri½a½cial asseFs bei½g íecog½ised o½ F½e bala½ce s½eeF.

? €€SBľD Píese½FaFio½ a½d Disclos½íe i½ Ii½a½cial SFaFeme½Fs "illsFa½daídise ½o" íes½lFs aíepíese½Fed a½d íeq½iíe moíedeFailed a½alQsis i½ boF½ F½e i½come sFaFeme½F a½d F½e ½oFes Fo F½e ri½a½cial sFaFeme½Fs.

Note 3. Critical accounting judgements, estimates and assumptions

Hee píepaíatioÉ or tee riÉaÉcial statemeÉts íequiíes maÉagemeÉt to maee judgemeÉts, estimates aÉd assumptioÉs teat arrect tee íepoíted amouÉts iÉ tee riÉaÉcial statemeÉts. MaÉagemeÉt coÉtiÉuallQ e:aluates its judgemeÉts aÉd estimates iÉ íelatioÉ to assets, liabilities, coÉtiÉgeÉt liabilities, íe:eÉues aÉd expeÉses. MaÉagemeÉt bases its judgemeÉts, estimates aÉd assumptioÉs oÉ eistoíical expeíieÉce aÉd oÉ :aíious oteeí ractoís, iÉcludiÉg expectatioÉs or rutuíe e:eÉts maÉagemeÉt belie:es to be íeasoÉable uÉdeí tee ciícumstaÉces. Hee íesultiÉg accouÉtiÉg judgemeÉts aÉd estimates maQ dirreí ríom tee actual íesults. Hee judgemeÉts, estimates aÉd assumptioÉs teat ea:e a sigÉiricaÉt íise or causiÉg a mateíial adjustmeÉt to tee caííQiÉg amouÉts or assets aÉd liabilities subsequeÉt to PH?6 aíe discussed below.

Hee ≤íoup eas coÉsideíed tee impact or ecoÉomic coÉditioÉs suce as iÉrlatioÉ, tee ceaÉgiÉg iÉteíest íate eÉ:iíoÉmeÉt aÉd uÉceítaiÉties iÉ tee iÉ:estmeÉt maíeets weeÉ píepaíiÉg tee coÉsolidated riÉaÉcial statemeÉts aÉd íelated Éote disclosuíes, iÉcludiÉg tee impact oÉ tee ≤íoup's roíecast case rlows aÉd liquiditQ. Weile tee errects or teese uÉceítaiÉties do Éot ceaÉge tee sigÉiricaÉt judgemeÉts, estimates aÉd assumptioÉs coÉsideíed bQ maÉagemeÉt iÉ tee píepaíatioÉ or tee coÉsolidated riÉaÉcial statemeÉts, teeQ iÉcíease tee le:el or estimatioÉ uÉceítaiÉtQ aÉd tee applicatioÉ or ruíteeí judgemeÉt witeiÉ teese ideÉtiried aíeas.

1. Goodwill

   ≤oodwill is Éot amoítised but assessed roí impaiímeÉt aÉÉuallQ oí moíe ríequeÉtlQ weeÉ teeíe aíe iÉdicatoís or impaiímeÉt.

   Hee íeco:eíable amouÉt or goodwill is estimated usiÉg tee eigeeí or raií :alue oí tee :alue iÉ use or tee íele:aÉt case-geÉeíatiÉg uÉit (C≤m) deductiÉg tee caííQiÉg amouÉt or tee ideÉtiriable Éet assets or tee C≤m. eeQ assumptioÉs used iÉ tee calculatioÉ or íeco:eíable amouÉts aíe tee discouÉt íates, teímiÉal :alue gíowte íates aÉd iÉputs to íe:eÉue aÉd expeÉse gíowte assumptioÉs, aÉd EBIHA multiples.

2. Intangible assets

   Hee caííQiÉg amouÉts or iÉtaÉgible assets wite riÉite li:es aíe íe:iewed at eace íepoítiÉg date to deteímiÉe weeteeí teeíe is aÉQ iÉdicatioÉ or impaiímeÉt. Ir aÉ iÉdicatioÉ or impaiímeÉt exists, tee asset's íeco:eíable amouÉt is estimated oÉ tee same basis as goodwill abo:e. AÉ impaiímeÉt loss is íecogÉised ir tee caííQiÉg amouÉt or tee iÉtaÉgible asset exceeds its íeco:eíable amouÉt.

3. Investments in associates and joint ventures

   IÉ:estmeÉts iÉ associates aÉd joiÉt :eÉtuíes aíe caííied at tee loweí or tee equitQ-accouÉted amouÉt aÉd tee íeco:eíable amouÉt. Hee caííQiÉg amouÉts or iÉ:estmeÉts iÉ associates aÉd joiÉt :eÉtuíes aíe íe:iewed at eace íepoítiÉg date to deteímiÉe weeteeí teeíe is aÉQ iÉdicatioÉ or impaiímeÉt. Ir aÉ iÉdicatioÉ or impaiímeÉt exists, tee asset's íeco:eíable amouÉt is estimated oÉ tee same basis as goodwill abo:e. AÉ impaiímeÉt loss is íecogÉised ir tee caííQiÉg amouÉt or tee iÉ:estmeÉt iÉ associates aÉd joiÉt :eÉtuíes exceeds its íeco:eíable amouÉt.

   Í® Steadfast Group Halr Yeaí Repoít ?0?6

4. Fair value of assets acquired

   Hee ≤íoup measuíes tee Éet assets acquiíed iÉ a busiÉess combiÉatioÉ at teeií raií :alue at tee date or acquisitioÉ. Ir Éew iÉroímatioÉ obtaiÉed witeiÉ oÉe Qeaí ríom tee acquisitioÉ date, about racts aÉd ciícumstaÉces teat existed at tee acquisitioÉ date, ideÉtiries adjustmeÉts to tee raií :alue, teeÉ tee amouÉts íecogÉised at tee acquisitioÉ date will be íetíospecti:elQ íe:ised. Faií :alue is estimated wite íereíeÉce to maíeet tíaÉsactioÉs roí similaí assets oí discouÉted case rlow aÉalQsis.

5. Expected credit loss provision

   Hee ECḺ pío:isioÉ is estimated based oÉ tee aÉalQsis or aged íecei:ables, as tee ≤íoup assumes teat tee cíedit íise oÉ ree aÉd commissioÉ íecei:ables iÉcíeases sigÉiricaÉtlQ ir it is moíe teaÉ 90 daQs past due, as well as based oÉ assumptioÉs made oÉ roíwaíd-looeiÉg iÉroímatioÉ. Foí tee píemium ruÉdiÉg busiÉesses, tee ECḺ pío:isioÉ is based oÉ eistoíical aÉalQsis or cíedit losses roí loaÉs iÉ aííeaís, ea:iÉg coÉsideíed weeteeí teis íemaiÉs appíopíiate.

6. Hedge accounting

   Hee ≤íoup maQ utilise deíi:ati:e riÉaÉcial iÉstíumeÉts suce as roíwaíd cuííeÉcQ coÉtíacts to mitigate its exposuíe to roíeigÉ cuííeÉcQ íise. Hee ≤íoup desigÉates aÉd documeÉts tee eedge íelatioÉseip at its iÉceptioÉ aÉd tee iÉitial íecogÉitioÉ oÉ tee date or eÉteíiÉg iÉto a deíi:ati:e coÉtíact is measuíed at raií :alue, rollowed bQ subsequeÉt íemeasuíemeÉt at raií :alue. Deíi:ati:es aíe categoíised as oteeí assets oí oteeí liabilities based oÉ weeteeí teeií raií :alue is positi:e oí Éegati:e, íespecti:elQ. IÉ tee case rlow eedge íeseí:e, tee gaiÉ oí loss oÉ tee eedgiÉg iÉstíumeÉt is íecogÉised as oteeí compíeeeÉsi:e iÉcome roí tee errecti:e poítioÉ, weile tee iÉerrecti:e poítioÉ is íecogÉised diíectlQ iÉ píorit oí loss.

7. Climate change

   Climate ceaÉge íepíeseÉts a mateíial souíce or climate-íelated íise aÉd oppoítuÉitQ roí tee iÉsuíaÉce sectoí aÉd tee bíoadeí ecoÉomQ, iÉcludiÉg impacts oÉ busiÉess opeíatioÉs, customeís aÉd maíeet coÉditioÉs.

   Hee ≤íoup coÉsideís bote peQsical aÉd tíaÉsitioÉ íises teat maQ arrect tee ≤íoup's riÉaÉcial positioÉ, riÉaÉcial peíroímaÉce, aÉd case rlows. Based oÉ tee ≤íoup's busiÉess model aÉd :alue ceaiÉ, climate-íelated íise impacts aíe Éot as diíect oí sigÉiricaÉt

   as teose raced bQ iÉsuíeís. AccoídiÉglQ, tee ≤íoup coÉtiÉues to ideÉtirQ, assess aÉd moÉitoí tee poteÉtial riÉaÉcial impacts or climate-íelated íises aÉd oppoítuÉities.

8. Fair value of assets and liabilities

Hee ≤íoup's assets aÉd liabilities aíe measuíed at raií :alue at balaÉce date. Hee rollowiÉg table gi:es iÉroímatioÉ about eow tee raií

:alue or assets aÉd liabilities is deteímiÉed, iÉcludiÉg tee :aluatioÉ teceÉiques aÉd iÉputs used. Foí tee ≤íoup's assets aÉd liabilities weeíe a raií :alue meteodologQ is Éot Éoted below, teeií caííQiÉg amouÉts pío:ide a íeasoÉable appíoximatioÉ or teeií raií :alues.

Faií :alues aíe categoíised iÉto dirreíeÉt le:els iÉ a raií :alue eieíaíceQ based oÉ tee iÉputs used iÉ tee :aluatioÉ, as rollows:

Ḻe:el P: quoted píices (uÉadjusted) iÉ acti:e maíeets roí ideÉtical assets oí liabilities.

Ḻe:el ?: iÉputs oteeí teaÉ quoted píices iÉcluded iÉ Ḻe:el P teat aíe obseí:able roí tee asset oí liabilitQ, eiteeí diíectlQ (i.e. as píices) oí iÉdiíectlQ (i.e. deíi:ed ríom píices).

Ḻe:el 3: iÉputs roí tee asset oí liabilitQ teat aíe Éot based oÉ obseí:able maíeet data.

Steadfast Group Halr Yeaí Repoít ?0?6 Í9

Notes to the financial statements coÉtiÉued

Asset or liability

Fair value

hierarchy Valuation

Significant unobservable inputs

Relationship of unobservable inputs to fair value

Dereííed/coÉtiÉgeÉt Ḻe:el 3 Faií :alue is calculated based

Foíecast EBIHA oí rees

Hee estimated raií :alue would

coÉsideíatioÉ

oÉ a coÉtíacted multiple, tQpicallQ or roíecast EBIHA oí rees aÉd commissioÉs, discouÉted to píeseÉt :alue weeíe appíopíiate.

aÉd commissioÉs. DiscouÉt íate.

iÉcíease/decíease ir tee roíecast EBIHA oí rees aÉd commissioÉs weíe eigeeí/loweí.

Hee estimated raií :alue would decíease/iÉcíease ir tee discouÉt íate used was eigeeí/loweí.

ḺaÉd aÉd buildiÉgs Ḻe:el 3 Faií :alue is deteímiÉed usiÉg

aÉ iÉdepeÉdeÉt appíaisal bQ qualiried píopeítQ :alueís at 30 JuÉe ?0?5, based oÉ tee capitalisatioÉ or Éet iÉcome (discouÉted case rlow) aÉd diíect compaíisoÉ appíoacees.

Foíecast case rlows aÉd maíeet :alue aíe díi:eÉ laígelQ bQ maíeet Qield. Yield is impacted bQ Éumeíous ractoís iÉcludiÉg íeÉtal gíowte, occupaÉcQ íates aÉd íeÉtal iÉceÉti:es weice aíe all díi:eÉ bQ supplQ aÉd demaÉd. Foíecast case rlows aíe discouÉted to píeseÉt

:alue at cuííeÉt íise-ríee íates.

Hee estimated raií :alue would decíease/iÉcíease ir maíeet Qields weíe eigeeí/loweí.

Hee estimated raií :alue would decíease/iÉcíease ir tee discouÉt íate used was eigeeí/loweí.

IÉteíest íate swaps (oteeí assets)

FoíeigÉ cuííeÉcQ roíwaíd coÉtíact (oteeí assets)

Ḻe:el ? Faií :alue is deteímiÉed wite

íereíeÉce to estimated rutuíe case rlows, discouÉted to píeseÉt :alue bQ applicatioÉ or obseí:able discouÉt

íates deíi:ed ríom íele:aÉt Qield cuí:es.

Ḻe:el ? Faií :alue is deteímiÉed wite

íereíeÉce to estimated rutuíe case rlows, discouÉted to píeseÉt :alue bQ applicatioÉ or obseí:able discouÉt íates deíi:ed ríom íele:aÉt Qield cuí:es aÉd roíwaíd íates.

Жot applicable. Жot applicable.

Жot applicable. Жot applicable.

IÉ:estmeÉt iÉ listed seaíes (oteeí riÉaÉcial assets)

Ḻe:el P Faií :alue is calculated based oÉ Жot applicable. Жot applicable. tee Éumbeí or seaíes multiplied

bQ tee quoted píice oÉ tee ASX at balaÉce date.

IÉ:estmeÉt iÉ uÉlisted equities (oteeí assets)

Ḻe:el 3 Faií :alue is calculated based

oÉ a coÉtíacted multiple, tQpicallQ or cuííeÉt Qeaí EBIHA oí rees aÉd commissioÉs discouÉted to píeseÉt :alue weeíe appíopíiate.

Foíecast EBIHA oí rees aÉd commissioÉs.

DiscouÉt íate.

Hee estimated raií :alue would iÉcíease/decíease ir tee roíecast EBIHA oí rees aÉd commissioÉs weíe eigeeí/loweí.

Hee estimated raií :alue would decíease/iÉcíease ir tee discouÉt íate used was eigeeí/loweí.

Call optioÉs subsidiaíies (riÉaÉcial assets)

Ḻe:el 3 Faií :alue is calculated usiÉg

aÉ optioÉ píiciÉg teceÉique teat íereíeÉces a coÉtíacted multiple or cuííeÉt Qeaí EBIHA.

Foíecast EBIHA. Hee estimated raií :alue would iÉcíease/decíease ir tee roíecast EBIHA weíe eigeeí/loweí.

?0 Steadfast Group Halr Yeaí Repoít ?0?6

‌Note

. Operating segments

Hee ≤íoup's coípoíate stíuctuíe iÉcludes equitQ iÉ:estmeÉts acíoss iÉsuíaÉce bíoeiÉg, uÉdeíwíitiÉg ageÉcies, teceÉologQ, píemium ruÉdeís aÉd oteeí complemeÉtaíQ busiÉesses. As paít or tee ≤íoup's updated iÉteíÉal maÉagemeÉt aÉd íepoítiÉg stíuctuíe, errecti:e P JulQ ?0?5, tee ceier opeíatiÉg decisioÉ maeeí (CODM), beiÉg tee ≤íoup MaÉagiÉg Diíectoí h CEO, Éow íe:iews tee ≤íoup's riÉaÉcial peíroímaÉce at tee le:el or six opeíatiÉg segmeÉts: bíoeiÉg, uÉdeíwíitiÉg ageÉcies, iÉteíÉatioÉal, teceÉologQ, complemeÉtaíQ, aÉd eead orrice. Heis segmeÉtatioÉ is coÉsisteÉt wite eow íesouíces aíe allocated aÉd peíroímaÉce is assessed acíoss tee ≤íoup. Hee ceaÉge íerlects tee aligÉmeÉt or segmeÉt accouÉtabilitQ to dedicated executi:es wite íespoÉsibilitQ roí eace opeíatiÉg segmeÉt, íateeí teaÉ to iÉdi:idual eÉtitQ-le:el maÉagemeÉt, aÉd teat iÉteíÉal íepoíts pío:ided to aÉd íe:iewed bQ tee CODM aíe Éow píepaíed oÉ a segmeÉt basis. Compaíati:e segmeÉt iÉroímatioÉ eas beeÉ íestated below to íerlect tee íe:ised opeíatiÉg segmeÉt stíuctuíe.

Hee ≤íoup opeíates píimaíilQ iÉ Austíalia aÉd Жew ZealaÉd aÉd is expaÉdiÉg its rootpíiÉt iÉ tee mÉited States or Ameíica, SiÉgapoíe, tee mÉited eiÉgdom, aÉd oteeí aíeas or Euíope. CoÉsisteÉt wite tee CODM's o:eísiget, roíeigÉ opeíatioÉs íelatiÉg to tee mÉited States, tee mÉited eiÉgdom, FíaÉce, aÉd ≤eímaÉQ aíe moÉitoíed collecti:elQ witeiÉ tee iÉteíÉatioÉal opeíatiÉg segmeÉt. IÉsuíaÉce iÉteímediaíQ opeíatioÉs acíoss Asia Paciric íegioÉ, iÉcludiÉg Жew ZealaÉd, SiÉgapoíe aÉd HoÉg eoÉg, aíe moÉitoíed collecti:elQ witeiÉ tee bíoeiÉg aÉd uÉdeíwíitiÉg ageÉcies opeíatiÉg segmeÉts.

Hee table below píeseÉts tee riÉaÉcial peíroímaÉce or tee ≤íoup's opeíatiÉg segmeÉts. SegmeÉt iÉroímatioÉ is píeseÉted iÉ a roímat coÉsisteÉt wite iÉteíÉal íepoítiÉg pío:ided to tee CODM aÉd is seowÉ beroíe iÉteí-segmeÉt elimiÉatioÉs. ElimiÉatioÉs betweeÉ tee opeíatiÉg segmeÉts aíe disclosed sepaíatelQ below.

Steadfast Group Halr Yeaí Repoít ?0?6 ?Í

Notes to the financial statements coÉtiÉued

Half Qeaí to	Bíoeing	Undeíwíiting Agencies	Inteínational	HecenologQ	ComplementaíQ	Head Office	InteícompanQ eliminations	Hotal ndeílQing	Re- classifications	Non-tíading items	Hotal stat toíQ
«Í Eec ?0?5	$'m	$'m	$'m	$'m	$'m	$'m	$'m	$'m	$'mÍ	$'m?	$'m
Hotal íe:eÉue	500.1	2 0.8	56.	12.6	71.6	5.3	123.6	1,010.	(158.6)	8.9	900.73
Hotal expeÉses	(371.3)	(13 .6)	(55.7)	(15.5)	(65.0)	(28.7)	(123.6)	(79 . )	169.1	(36.0)	(661.3)
Seaíe or ЖPAHA ríom associates aÉd joiÉt :eÉtuíes	9.2	0.9	-	-	0.6	-	-	10.7	(10.2)	(0.5)	-
Net profit/(loss) before income tax	138.0	107.1	0.7	(2.9)	7.2	(23. )	-	226.7	0.3	12.	239.
IÉcome tax (expeÉse)/beÉerit	( 0.1)	(32.0)	0.8	0.9	(1.9)	9.2	-	(63.1)	(0.3)	(21.0)	(8 . )
Net profit/(loss) after income tax	97.9	75.1	1.5	(2.0)	5.3	(1 .2)	-	163.6	-	(8.6)	155.0
ЖoÉ-coÉtíolliÉg iÉteíests	(1 .9)	(8.8)	(1.6)	-	(0.8)	-	-	(26.1)	-	(1.9)	(28.0)
Net profit/(loss) after income tax attributable to owners of Steadfast Group Limited	83.0	66.3	(0.1)	(2.0)	.5	(1 .2)	-	137.5	-	(10.5)	127.0

ľ

½c½ or F½e íeclassiricaFio½ íelaFes Fo commissio½s paid bQ F½e Gío½p's ½½deí"íiFi½g age½cies Fo i½s½ía½ce bío½eís o½Fside F½e Gío½p. S½c½ commissio½s aíe ½eFFed orr agai½sF ree a½d commissio½ i½come i½ F½e sFaF½FoíQ ½½mbeís, a½d aíe disclosed as e"pe½ses i½ F½e ½½deílQi½g ½½mbeís.

? ½ereí ЖoFe 5B roí a bíea½do"½ or ½o½-Fíadi½g iFems.

3 HoFal sFaF½FoíQ íe"e½½e i½cl½des all i½come ½eF or bío½eíage commissio½, as seF o½F i½ F½e sFaFeme½F or píoriF oí loss a½d oF½eí compíe½e½si"e i½come. SFaF½FoíQ FoFal íe"e½½e roí ľH?6 compíised $735.7 millio½ ríom €½sFíalia, $ľ?ľ.0 millio½ ríom Жe"

€eala½d, a½d $½½.0 millio½ ríom oF½eí roíeig½ opeíaFio½s.

?? Steadfast Group Halr Yeaí Repoít ?0?6

Half Qeaí to	Bíoeing	Undeíwíiting Agencies	Inteínational	HecenologQ	ComplementaíQ	Head Office	InteícompanQ eliminations	Hotal ndeílQing	Re- classifications	Non-tíading items	Hotal stat toíQ
«Í Eec ?0?	$'m	$'m	$'m	$'m	$'m	$'m	$'m	$'m	$'mÍ	$'m?	$'m
Hotal íe:eÉue	P .5	?3 .6	P7.6	P0.7	73.9	®.5	P?P.5	®®P.3	(P33. )	3P.®	779.73
Hotal expeÉses	(30 .6)	(P3P.9)	(??.0)	(P7.7)	(69.0)	(?9.6)	(P?P.5)	(696.3)	P 9.3	(56.?)	(603.?)
Seaíe or ЖPAHA ríom associates aÉd joiÉt :eÉtuíes	P5.0	0.®	-	-	0.6	-	-	P6.	(P5.5)	(0.9)	-
Net profit/(loss) before income tax	P? .9	P03.5	( . )	(7.0)	5.5	(?P.P)	-	?0P.	0.	(?5.3)	P76.5
IÉcome tax (expeÉse)/beÉerit	(3 .6)	(30.6)	?.0	?.P	(P.3)	®.6	-	(53.®)	(0. )	.5	( 9.7)
Net profit/(loss) after income tax	90.3	7?.9	(?. )	( .9)	.?	(P?.5)	-	P 7.6	-	(?0.®)	P?6.®
ЖoÉ-coÉtíolliÉg iÉteíests	(PP.5)	(7.7)	0.?	-	(0.5)	-	-	(P9.5)	-	(0.9)	(?0. )
Net profit/(loss) after income tax attributable to owners of Steadfast Group Limited	7®.®	65.?	(?.?)	( .9)	3.7	(P?.5)	-	P?®.P	-	(?P.7)	P06.

ľ

½c½ or F½e íeclassiricaFio½ íelaFes Fo commissio½s paid bQ F½e Gío½p's ½½deí"íiFi½g age½cies Fo i½s½ía½ce bío½eís o½Fside F½e Gío½p. S½c½ commissio½s aíe ½eFFed orr agai½sF ree a½d commissio½ i½come i½ F½e sFaF½FoíQ ½½mbeís, a½d aíe disclosed as e"pe½ses i½ F½e ½½deílQi½g ½½mbeís.

? ½ereí ЖoFe 5B roí a bíea½do"½ or ½o½-Fíadi½g iFems.

3 HoFal sFaF½FoíQ íe"e½½e i½cl½des all i½come ½eF or bío½eíage commissio½, as seF o½F i½ F½e sFaFeme½F or píoriF oí loss a½d oF½eí compíe½e½si"e i½come. SFaF½FoíQ FoFal íe"e½½e roí ľH?5 compíised $7?9.½ millio½ ríom €½sFíalia, $30.ľ millio½ ríom Жe"

€eala½d, a½d $?0.? millio½ ríom oF½eí roíeig½ opeíaFio½s.

Steadfast Group Halr Yeaí Repoít ?0?6 ?«

Notes to the financial statements coÉtiÉued

‌Note 5. Earnings per share A. Reporting period value
	Half Qeaí to «Í Eec ?0?5 Cents	Half Qeaí to «Í Eec ?0? Cents
Basic eaíÉiÉgs peí seaíe	11.5	9.6
Diluted eaíÉiÉgs peí seaíe	11.5	9.6
ExcludiÉg ÉoÉ-tíadiÉg items, tee uÉdeílQiÉg eaíÉiÉgs peí seaíe would be as rollows:
Basic eaíÉiÉgs peí seaíe	12.	PP.6
Diluted eaíÉiÉgs peí seaíe	12.	PP.6
B. Reconciliation of earnings used in calculating earnings per share
	Half Qeaí to «Í Eec ?0?5 $'m	Half Qeaí to «Í Eec ?0? $'m
Píorit arteí iÉcome tax	155.0	P?6.®
ЖoÉ-coÉtíolliÉg iÉteíests	(28.0)	(?0. )
StatutoíQ ЖPAH	127.0	P06.
AdjustmeÉts roí ÉoÉ-tíadiÉg items (Éet or tax aÉd ÉoÉ-coÉtíolliÉg iÉteíest):
Жet dereííed/coÉtiÉgeÉt coÉsideíatioÉ expeÉse (excludiÉg RotebuíQ ≤íoup aÉd Suíe IÉsuíaÉce)	8.1	?.7
Жet adjustmeÉt íelated to RotebuíQ ≤íoup (Rereí to Жote 7E)	(17.0)P	-
Wíite dowÉs aÉd íestíuctuíiÉg adjustmeÉts	17.0	( .0)
ImpaiímeÉt expeÉse	0.9?	.9?
Maíe-to-maíeet losses ríom íe:aluatioÉ or listed aÉd uÉlisted iÉ:estmeÉts	-	®.
Жet adjustmeÉt íelated to Suíe IÉsuíaÉce	-	P.63
Oteeí mo:emeÉts	1.5	®.P
mÉdeílQiÉg ЖPAH attíibutable to owÉeís or Steadrast ≤íoup Ḻimited	137.5	P?®.P

ľ I½cl½des dereííed co½sideíaFio½ íemeas½íeme½F gai½ or $?6.ľ millio½ a½d roíeig½ e"c½a½ge gai½ or $ľ0.5 millio½, orrseF bQ disco½½F ½½"i½di½g e"pe½se or $5.7 millio½ a½d impaiíme½F e"pe½se or $ľ½.ľ millio½ ($ľ3.9 millio½ ½eF or Fa") peíFai½i½g Fo F½e acco½½Fi½g roí F½e eaí½o½F a½d caííQi½g "al½e or ½oF½b½íQ Gío½p.

? Impaiíme½F e"pe½se or s½bsidiaíies a½d associaFes e"cl½di½g S½íe I½s½ía½ce a½d ½oF½b½íQ Gío½p.

3 I½cl½des dereííed/co½Fi½ge½F co½sideíaFio½ i½come or $35.D millio½ a½d impaiíme½F e"pe½se or $3D.5 millio½ ($37.½ millio½ ½eF or Fa") peíFai½i½g Fo F½e acco½½Fi½g roí F½e eaí½o½F a½d caííQi½g "al½e or S½íe I½s½ía½ce.

? Steadfast Group Halr Yeaí Repoít ?0?6

C. Reconciliation of weighted average number of shares used in calculating earnings per share
	Half Qeaí to «Í Eec ?0?5 $'m	Half Qeaí to «Í Eec ?0? $'m
I. Weighted average number of ordinary shares issued
Weigeted a:eíage Éumbeí or oídiÉaíQ seaíes issued	1,107.8	P,P06.3
Weigeted a:eíage Éumbeí or tíeasuíQ seaíes eeld iÉ tíust	(2.9)	(?.6)
Weigeted a:eíage Éumbeí or oídiÉaíQ seaíes used iÉ calculatiÉg basic eaíÉiÉgs peí seaíe	1,10 .9	P,P03.7
II. Weighted average number of dilutive potential ordinary shares
Weigeted a:eíage Éumbeí or oídiÉaíQ seaíes	1,10 .9	P,P03.7
Diluti:e poteÉtial oídiÉaíQ seaíes issuable uÉdeí seaíe-based paQmeÉt aííaÉgemeÉts	1.6	P.6
Weigeted a:eíage Éumbeí or oídiÉaíQ seaíes used iÉ calculatiÉg diluted eaíÉiÉgs peí seaíe	1,106.5	P,P05.3

Hee weigeted a:eíage Éumbeí or oídiÉaíQ seaíes oí diluti:e poteÉtial oídiÉaíQ seaíes is calculated bQ taeiÉg iÉto accouÉt tee peíiod ríom tee issue date or tee seaíes to tee íepoítiÉg date.

Steadrast opeíates seaíe-based paQmeÉt aííaÉgemeÉts (beiÉg aÉ emploQee íigets sceeme, a seoít-teím iÉceÉti:e plaÉ aÉd a loÉg-teím iÉceÉti:e plaÉ) weeíe eligible emploQees maQ íecei:e coÉditioÉal íigets (íigets) iÉstead or case. OÉe íiget will coÉ:eít to oÉe oídiÉaíQ seaíe subject to :estiÉg coÉditioÉs beiÉg met. Heese seaíe-based paQmeÉt aííaÉgemeÉts aíe gíaÉted to emploQees ríee or cost aÉd Éo coÉsideíatioÉ is paQable oÉ coÉ:eísioÉ to Steadrast's oídiÉaíQ seaíes. Heese aííaÉgemeÉts ea:e a diluti:e errect oÉ tee basic EPS.

Note 6. Dividends
A. Dividends on ordinary shares
	Cents peí seaíe	Hotal amo nt $'m	PaQment date	Hax íate foí fíaneing cíedit	Peícentage fíaneed
31 Dec 2025
?0?5 riÉal di:ideÉd	PP.70	P?9.	?6 Septembeí ?0?5	30%	P00%
31 Dec 202
?0? riÉal di:ideÉd	P0.35	PP .5	? Septembeí ?0?	30%	P00%

It is staÉdaíd píactice teat tee Boaíd declaíes tee di:ideÉd roí a peíiod arteí tee íele:aÉt íepoítiÉg date. A di:ideÉd is Éot accíued uÉtil it is declaíed aÉd so tee di:ideÉds roí a peíiod aíe geÉeíallQ íecogÉised aÉd measuíed iÉ tee riÉaÉcial íepoítiÉg peíiod rollowiÉg tee peíiod to weice tee di:ideÉds íelate.

B. Dividend policy

Hee CompaÉQ taígets a di:ideÉd paQout íatio iÉ tee íaÉge or 65% to ®5% or uÉdeílQiÉg ЖPAH attíibutable to seaíeeoldeís or tee CompaÉQ, wite a miÉimum di:ideÉd paQout íatio or 50% or Éet píorit arteí tax aÉd beroíe amoítisatioÉ, impaiímeÉt aÉd oteeí ÉoÉ-tíadiÉg items (ЖPAHA).

C. DRP

A DRP allows equitQ eoldeís to elect to íecei:e teeií di:ideÉd eÉtitlemeÉt iÉ tee roím or tee CompaÉQ's oídiÉaíQ seaíes. Hee píice or DRP seaíes is tee a:eíage seaíe maíeet píice calculated o:eí tee píiciÉg peíiod (weice is at least ri:e tíadiÉg daQs) less aÉQ discouÉt as deteímiÉed bQ tee Boaíd roí eace di:ideÉd paQmeÉt date.

Steadfast Group Halr Yeaí Repoít ?0?6 ?5

D. Dividend not recognised at reporting date

OÉ ? FebíuaíQ ?0?6, tee Boaíd íesol:ed to paQ tee rollowiÉg di:ideÉd. As teis occuííed arteí tee íepoítiÉg date, tee di:ideÉds declaíed ea:e Éot beeÉ íecogÉised iÉ teis riÉaÉcial íepoít.

	Cents peí seaíe	Hotal amo nt $'m	Expected paQment date	Hax íate foí fíaneing cíedit	Peícentage fíaneed
2026 interim dividend	8.20	91.2	25 March 2026	30%	100%

Hee CompaÉQ's DRP will opeíate bQ tee oÉ-maíeet puícease or seaíes. Жo discouÉt will be applied. Hee last electioÉ Éotice roí paíticipatioÉ iÉ tee DRP iÉ íelatioÉ to teis iÉteíim di:ideÉd is

Maíce ?0?6.

‌Note 7. Intangible assets
A. Composition
	C stomeí	Capitalised	Oteeí intangible
«Í Eec ?0?5	íelationseips $'m	softwaíe $'m	assets $'m	Hotal $'m	Goodwill $'m
At cost	830.	166.1	.9	1,001.	3,085.
Accumulated amoítisatioÉ aÉd impaiímeÉt	( 15. )	(9 .5)	( .5)	(51 . )	(228.0)
BalaÉce at tee eÉd or tee riÉaÉcial peíiod	15.0	71.6	0.	87.0	2,857.
B. Movements
		Identifiable intangible assets
	C stomeí	Oteeí Capitalised intangible
Half Qeaí to «Í Eec ?0?5	íelationseips $'m	softwaíe assets $'m $'m		Hotal $'m	Goodwill $'m
BalaÉce at tee begiÉÉiÉg or tee riÉaÉcial peíiod	06.3	5 .2 0.5		61.0	2,706.9P
AdditioÉs	2.3	12.1? 0.3		1 .7	-
AdditioÉs teíouge busiÉess combiÉatioÉs	5.1	1 . -		59.5	197.5
ReductioÉs	(1.6)	(0.9) -		(2.5)	( .1)
AmoítisatioÉ expeÉse	(30.3)	(8.2) (0. )		(38.9)	-
ImpaiímeÉt expeÉse	(0.7)	- -		(0.7)	(13. )
Жet roíeigÉ cuííeÉcQ exceaÉge dirreíeÉce3	(6.1)	- -		(6.1)	(29.5)
BalaÉce at tee eÉd or tee riÉaÉcial peíiod	15.0	71.6 0.		87.0	2,857.

ľ ½esFaFed roí meas½íeme½F peíiod adj½sFme½F íelaFi½g Fo F½e acq½isiFio½ or ½oF½b½íQ Gío½p.

? Compíises $ľľ.½ millio½ or i½Feí½allQ de"eloped sorF"aíe a½d $0.7 millio½ or acq½iíed sorF"aíe.

3 H½e mo"eme½F píimaíilQ íelaFes Fo ½oF½b½íQ Gío½p's Жe" €eala½d opeíaFio½s.

?6 Steadfast Group Halr Yeaí Repoít ?0?6