Steadfast Group Ltd Investor Update Presentation Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Julian Braganza - Goldman Sachs Group Inc - Analyst : Just a first question. In terms of FY26, just the guidance you've previously provided in terms of EPS growth. Originally, it was more skewed towards organic growth of about 3% to 7% and acquisitive growth of about 3%. How does that now look like post all the changes that you're making just for FY26 in terms of capital, in terms of improved performance cost out? How does that look like post all the changes that you're making?

Question: Julian Braganza - Goldman Sachs Group Inc - Analyst : Okay. So in terms of the split between organic versus acquisition for '26, no change in that view? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 10, 2025 / 11:00PM, SDF.AX - Steadfast Group Ltd Investor Update Presentation

Question: Julian Braganza - Goldman Sachs Group Inc - Analyst : Okay. So still consistent with that split. Okay. That makes sense. Can I ask the second question? Just in terms of the premium rates, I just want to be super clear on the definition of the premium rates. So your guidance is for rate increases of 1% to 2%. So I just want to be clear because in your presentations, you talk about premium increases of about 2.4%. So I just want to make sure it's like for like.

Question: Andrei Stadnik - Morgan Stanley - Analyst : Can I ask my first question on ISU? Am I right in seeing that ISU now has $6 billion of P&C premiums from 250 members? Because I think last time you gave some numbers back in March, it had $5.1 billion in P&C premiums from 235 members. Is that the right growth metric?

Question: Andrei Stadnik - Morgan Stanley - Analyst : Good. And what about the number of members growth? That seems to be rising?

Question: Andrei Stadnik - Morgan Stanley - Analyst : And look, for my second question, can I ask around the pricing? You've given us data on pricing through insight, which is 60% of Australia. But based on your prior experience, the other 40% that might come through later, how does the other 40% behave in terms of pricing based on your prior experience? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 10, 2025 / 11:00PM, SDF.AX - Steadfast Group Ltd Investor Update Presentation

Question: Andrew Buncombe - Macquarie Group Ltd - Analyst : Just the first one, how are you going to account for the costs related to the redundancy programs at head office? Will they be put above the line and absorbed within guidance? Or will that be put below the line?

Question: Andrew Buncombe - Macquarie Group Ltd - Analyst : Okay. And then the second one, recent newspaper articles have suggested that Steadfast may have been an M&A target. Can you please advise if Steadfast has recently been approached for a potential takeover?

Question: Jeff Cai - Citi Infrastructure Investments LLC - Analyst : Just a similar vein in terms of rates. Can you give a bit more color in terms of what you're seeing to give you a bit more confidence why the average rates are sort of flattening out in the latest quarter?

Question: Jeff Cai - Citi Infrastructure Investments LLC - Analyst : Got it. And then a follow-up question on the topic of succession. To what extent has that sort of changed your mind given what happened in the last few weeks in terms of staying on as the CEO for much longer? What's your latest thinking?