#1FY22 Investor Presentation David Stevens CEO and Managing Director Simon Ward CFO All values in $NZD unless stated otherwise H HARMONEY 2022 FY22 INVESTOR PRESENTATION Harmoney 1 31 AUGUST 2022#2Empty#3Contents 1. Delivering results FY22 2. Overview of business model 3. Financial results 4. Strategy, ESG and outlook H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 3#4Harmoney Delivering results FY22 H HARMONEY 2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 4#5Harmoney FY22 actual pro forma performance compared to market guidance FY21 Actual¹ FY22 Guidance¹ FY22 Actual¹ Change vs. PCP Loan book $501m > $650m $685m 37% ↑ Revenue $79m > $92m $91m 15% ↑ Net lending margin 6.8% > 8.3% 8.4% 160bps ↑ Cash NPAT ($0.4m) Profitable $1.5m $1.9m ↑ Warehouse funding 61% > 90% 94% 54% ↑ Exceeded 90% target warehouse funding, reaching 94% with one-off targeted borrower rate discounting to drive this impacting revenue - 1% below guidance. 1FY21 Actual, FY22 Guidance and FY22 Actual based on pro forma financials. H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 5#69 key points you should know about us Cash NPAT profitable and positive cash flow from operating activities. Unrestricted cash $35m. Diversified funding from 3 of the "Big 4" banks + securitisation program. Australia now 70% of new customer originations. Attractive 11.7% net interest margin. Ability to easily adjust rates due to consumer-direct model. 73% of floating rate borrowings hedged to mitigate impact of interest rate market movements. Customers rate us! Google & Shopper Approved of 4.7/5 from >45,000 reviews. Quality portfolio. >40% Homeowners. 0.45% 90+ day arrears. Risk based pricing. Targeted >100 bps increase from April with no drop in demand. Existing customers return for future borrowings creating annuity stream (at near zero CAC). H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 6#7Rapid growth across all key business metrics 1. Account acquisition 2. Loan originations 3. Customer annuity 200k 150k 57% Growth 100k 50k Ok FY21 FY22 AU expansion powering rapid account growth. H $500m $400m 85% Growth $300m $200m $100m $0m FY21 FY22 Multiple top of first loan 150% 100% 50% NZ AU from IPO 0% 0 1 2. 3 4 5 Years since first loan Highly automated Stellare® platform converting more accounts into loans. Subsequent originations ~130% of first loan over 5 yrs, AU replicating NZ in 9x larger market. HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 7#8Australian expansion powering loan book growth 113% growth in Australian loan book • Record year end $685m pro forma Group loan book, representing 37% growth on pcp. Loan book now 94% funded by warehouses, allowing move to statutory only reporting from 1 July 2022 onwards. Growth driven by 207% growth on pcp in Australian loan originations, coming from both new customers and building annuity of existing customers. NZ book growth restrained due to significant regulatory changes applied to all consumer lenders in Dec 2021, which are now being partially relaxed. Group loan book $800m $600m $400m $200m $0m FY21 Statutory FY21 Pro forma FY22 Statutory FY22 Pro forma Group loan originations $300m $200m $100m H HARMONEY ©2022 FY22 INVESTOR PRESENTATION $0m FY21 FY22 FY21 FY22 NZ AU Existing customers New customers 31 AUGUST 2022 8#9Harmoney Overview of business model H HARMONEY 2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 9#10Customer value proposition Delivering faster, fairer loans through our smart technology Use of funds • Personalised fixed rates based on customer credit characteristics. Renovation Loans Debt Consolidation Risk-based pricing Unsecured personal loans Automated application process Fully CCCFA / NCCPA compliant H Interest rates from 5.35% to 19.99% Fast funding • Loans up to $70k in AU/NZ with loan terms of 3, 5 and 7 years. Average new loan size $22,000. • Funding within 24 hours. • One simple upfront loan establishment fee. No other fees. • Loans are fully compliant with consumer lending codes in AU/NZ. H HARMONEY ©2022 FY22 INVESTOR PRESENTATION Car Loans Education Loans Business Loans Medical Loans Travel Loans Wedding Loans 31 AUGUST 2022 10#11Harmoney's strategy: 100% consumer-direct Deep Consumer Data+ Machine Learning+ Automation II Lower CAC + Lower Losses + Lower Funding + Costs Fixed Opex High Shareholder Returns Growth opportunities of consumer-direct model Personal loan Other financial products (e.g. line of credit, secured, home loans) H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 11#12Data + ML + Automation Deep Consumer Data Lower Lower Machine Learning+ Automation CAC Lower Losses + Funding Fixed Opex Costs High Shareholder Returns Every month, over 12,000 new customer accounts help us train our machine learning and automation FINANCIAL REVIEW BOSS INNOVATIVE MOST C COMPANIES STELLARE High volumes of up-to-the-moment consumer financial data - combined with our 7+ years of historic data - "supercharges" training of our machine learning models, helping us optimise for: • High efficacy marketing with Google producing high volumes of desirable customers at low cost. • A leading Net Lending Margin of 9.3% through more accurate risk assessment of customers. Quality, first-party, consumer-direct data to fuel machine learning has been a core feature of Harmoney since our inception. 12#13The Harmoney business model maximises customer lifetime value Right customer • Build reliable target consumer model through machine learning and high quality first-party consumer data. • Partner with large-scale platforms (e.g. Google, LinkedIn, Facebook) to implement cost-effective customer acquisition channels. • Use direct relationship and customer segment fit to devise and offer new products and services. Great experience • First-class customer experience creates annuity revenue as • customers return with minimal cost of acquisition (CAC). Highly automated simple and streamlined 100% online process. Massive scale Exploit tech to build scale, speed, and automation to decouple costs from growth. Start next big thing 130% additional originations over next 5 yrs H Google APPROVED 4.7/5 overall rating >45,000 reviews HARMONEY ©2022 New customer Harmoney application FY22 INVESTOR PRESENTATION 31 AUGUST 2022 Harmoney loan 13#14Harmoney Financial results H HARMONEY 2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 14#15Key performance indicators FY22 Statutory FY22 Pro Forma FY21 Pro Forma Loan book $642m $685m $501m Revenue $78m $91m $79m Net interest margin 11.7% 12.1% 10.6% Net lending margin 9.3% 8.4% 6.8% Direct opex $28m $28m $20m Indirect (fixed) opex $19m $19m $17m Cash NPAT $0.2m $1.5m ($0.4m) H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 15#16Australian expansion delivers strong revenue growth Group revenue growth Average customer interest rate 15.9% StellareⓇ lending platform and consumer-direct model delivered 37% group loan book growth, now 94% warehouse funded, driving statutory revenue of $78m up 99% pcp. Convenient and quick online process attracting prime borrowers and delivered 15.9% average interest rate. Personalised risk-based interest rates enabled passing through >100bps weighted average increase across all originations from April, in response to rising interest rates, without impacting demand. $100m $75m $50m $25m $0m FY21 Statutory FY21 Pro forma FY22 Statutory FY22 Pro forma H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 16#17Deep Consumer Lower Lower CAC + Lower Losses Fixed + Funding + Opex Costs High Shareholder Returns Consumer-direct data and experience delivers lower CAC Data+ Machine Learning Automation Marketing cost to origination % Australian cost to origination ratio improved by 45% Stellare applies continuous machine learning to deep consumer data to focus on desirable, high intent customers, lowering marketing costs. Customers enjoy their experience, as shown by exceptional Google and NPS ratings, and return next time they want help to start something new. Unlike other models, our direct relationship means subsequent loans have near zero CAC. Group FY22 marketing cost to origination ratio reduced to 4.7% from 6.4% pcp. 13% 10% 8% 5% 3% 0% H1-FY21 H2-FY21 H1-FY22 H2-FY22 - Australia -New Zealand H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 17#18Deep data and machine learning deliver prime loan book Deep Consumer Data+ Machine Learning+ Automation Lower Lower Lower CAC + Funding Losses Fixed Opex Costs High Shareholder Returns 9.3% Net Lending Margin (after losses) Credit losses Convenient online consumer-direct model provides deep data, powering machine learning and automation to deliver resilient prime borrowers at scale. Loan book comprised of more than 40% homeowners, 99% in regular employment or self-employed, and among those at least 74% employed in either professional, office or trades roles and 86% aged 30+. Statutory credit losses 2.5% FY22 and 90+ day arrears at 30 June 2022 0.45%. • Ultimately delivering a Net Lending Margin (after losses) of 9.3%. 4% 3% 2% 1% 0% FY21 Low 90+ day arrears 3% 2% 1% FY22 <--1.30% 0.45% 0% Jul Aug Sep Nov Dec Oct - FY22 - FY21 ■■ AU Mkt. Avg. FY22* Jan Feb Mar Apr May Jun H HARMONEY ©2022 FY22 INVESTOR PRESENTATION *Source: Equifax Australian Consumer Credit Demand Index 2022 Q2, Personal Loan series. 31 AUGUST 2022 18#19Leading funding model delivers efficient cost of funds and use of capital Diversified funding model delivers • Funding from 3 of the "Big 4" banks, securitisation program and transition to warehouse funding 94% complete, reduced pro forma cost of funds by 180bps. • Floating rate borrowings 73% hedged. . H Capital efficient with borrowings 93% of loan book (incl. restricted cash). Warehouse unused capacity $323m to support portfolio growth. Unrestricted cash $35m, A$5m undrawn corporate debt and positive cash from operating activities. HARMONEY ©2022 FY22 INVESTOR PRESENTATION Deep Consumer Lower High Lower Lower Fixed + CAC Losses + Funding + Opex Costs Shareholder Returns Data+ Machine Learning+ Automation Average funding rate 6% 5% 4% 180bps Reduction 3% FY21 FY22 31 AUGUST 2022 19#20StellareⓇ automation powers scalability Deep Consumer Data Machine Learning Automation Lower + CAC Lower Losses + Lower Funding Costs Fixed Opex High Shareholder Returns Scalability drives profitability • Highly automated StellareⓇ platform enables loan book to scale faster than opex, with total loan book growing 37% while indirect (fixed) opex grew 10%. Loan book growth contributes partially to current year revenue growth but delivers multi-year annuity due to consumer-direct model. Opex growth on full year of increased investment in engineering and platform post IPO. Scaleable StellareⓇ platform has delivered pro forma and statutory Cash NPAT profitability in FY22. Loan book to opex growth ― Loan book 800m 600m 400m 200m Om - Fixed opex 40m 30m 20m 10m 0m FY21 FY22 H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 20#21Harmoney Strategy, ESG and Outlook H HARMONEY 2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 21#22Strategic growth initiative 1: Continue AU expansion AU replicating in 9x market Huge potential for Harmoney in A$140bn market¹ Multiple of first loan 150% 100% 50% NZ AU from IPO Market Size A$(Bn) Stable market and an enormous growth opportunity for Harmoney as consumers gravitate online, with the vast majority of personal lending still provided by banks and traditional lenders. Harmoney's Australian new customer lending grew 227% to A$196m. Australia is mirroring New Zealand performance and is on track for these new customers to add -130% in repeat lending over the next five years, at near zero CAC. - AU Market¹ 200 - Harmoney & listed personal lending peers %² 5% 4% 150 3% 100 50 2% 1% 0% 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Market share % H 0% 1 0 1 2 3 4 5 Years since first loan HARMONEY ©2022 Source RBA, 'D2 Lending And Credit Aggregates - Credit; Other personal', which covers all personal credit (non-business, non-housing/mortgage), incl. e.g. personal loans, car loans and credit cards. 2 Listed personal lending peers comprise Wisr, MoneyMe & Plenti with loan balances sourced from 2022 market trading updates. FY22 INVESTOR PRESENTATION 31 AUGUST 2022 22#23Strategic growth initiative 2: Expand product offering Non-prime accounts Prospects 1,000/per month avg. New customers funded by Harmoney. 12,000 per month avg. New customer accounts 6,000/per month avg. - Harmoney Opportunity "Prime" accounts - bureau qualified people each month that are not served by our current product offering, which represents an opportunity to meet their needs with new features (e.g. always-on line of credit, interest only) or new products beyond the personal loan (e.g. auto, SME products, financial tools). • Increasing conversion through a better user experience and new credit and affordability models. • Higher retention as Harmoney's relationship with customers moves beyond the personal loan to a wider range of financial products. H HARMONEY ©2022 31 AUGUST 2022 23#24Environment, Social & Governance (ESG) at Harmoney Harmoney is pleased to include our inaugural ESG summary, providing an opportunity to highlight our achievements this year, and set out our commitment to advancing ESG principles at Harmoney, and reporting on progress. Environment • Net zero emissions FY22. Fully offset very low measured up/downstream emissions - being online only with extensive work from home and electronic conferencing practices. Commitment to complying with upcoming climate related disclosure standards as published. Social • Provide ease of access to financial services across consumer segments by applying technology to reliably sourced financial data and designing for simplicity. Maintain stringent measures to secure and protect financial and credit-related customer data. Committed to developing products and features delivering positive customer outcomes, including support through periods of financial difficulty. Governance ● Compliant with ASX "Corporate Governance Principles and Recommendations (4th edition)". Compliance Manager role established to enhance risk & compliance program. H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 24 24#25Outlook Interest rates and pricing response · Ability to pass through targeted borrower interest rate increases through sophisticated risk based pricing model, >100bps average increase passed though in April 2022 without impacting demand. . Funding costs protected with a diversified funding panel and >70% of floating rate borrowings hedged. Asset quality . High quality diversified loan book >40% home ownership, 99% regular employment / self employed (see Appendix for more detail). Low arrears rate. Growth expected to remain strong due to large TAM Harmoney consumer-direct model, focused on customer experience is taking market share from banks, plenty of room to grow in $140bn+ market. FY23 outlook Origination growth Loan book growth Net Interest Margin >10% Cash NPAT growth H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 25#26Harmoney Appendix H HARMONEY 2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 26#27A$274m Australian Loan Book Building a high skill, high value customer base Employment status 0 DDD Office / 32% Trade/21% Professional/18% Self-employeed/3% Other employed / 25% Other / 1% Loan purpose Property ownership Age of borrowers 40% 20% OWNED - PAYING MORTGAGE RENTING LIVING WITH PARENTS BOARDING OTHER FULLY OWNED NO MORTGAGE EMPLOYER SUPPLIED A - Debt consolidation / 26% B-Home improvements / 19% C - Holiday Expenses / 7% D - Used vehicle / 10% E Household Items / 7% F Other/31% H HARMONEY ©2022 FY22 INVESTOR PRESENTATION Region 31 AUGUST 2022 30% 20% 10% 18-19 20-29 30-39 40-49 50-59 60-69 70+ NSW / 29% QLD/27% VIC/21% WA/13% SA/5% Other/5% 27#28NZ$339m New Zealand Loan Book Building a high skill, high value customer base Employment status 0 DDD Office / 38% Trade/17% Professional/19% Self-employed/6% Other employed / 19% Other / 1% Loan purpose Property ownership 40% 20% OWNED - PAYING MORTGAGE RENTING LIVING WITH PARENTS BOARDING OTHER FULLY OWNED - NO MORTGAGE EMPLOYER SUPPLIED Age of borrowers 30% 20% 10% 18-19 20-29 30-39 40-49 50-59 60-69 70+ A Debt consolidation / 26% B-Home improvements / 20% C- Holiday Expenses / 10% D Used vehicle/6% E- Household Items / 6% F Other/32% Region O A Auckland, Northland / 38% B-Waikato / Bay of Plenty / 16% C-Canterbury / Marlborough/ Nelson / Tasman/ 15% D - Wellington / Central / Hawke's Bay / 24% E-Otago/Southland / Westland/7% H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 28#29Profit and loss (pro forma and statutory) Year ended 30 June 2022 Statutory $'000 Pro forma Adjustments $'000 Pro forma $'000 Statutory $'000 Year ended 30 June 2021 Pro forma Adjustments $'000 Pro forma $'000 Interest income Other income Total income 73,624 16,966 90,590 37,643 40,917 78,560 4,121 (3,638) 483 1,504 (999) 505 77,745 13,328 91,073 39,147 39,918 79,065 Interest expense 19,408 1,957 21,365 9,647 17,763 27,410 Incurred credit losses 11,354 9,512 20,866 4,787 13,839 18,626 Net lending margin 46,983 1,859 48,842 24,713 8,316 33,029 Movement in expected credit loss provision 16,023 (8,093) 7,930 8,285 (8,721) (436) Net lending margin after loss provision 30,960 9,952 40,912 16,428 17,037 33,465 Marketing expenses 22,067 0 22,067 16,475 0 16,475 Verification and servicing expenses 5,514 0 5,514 4,006 0 4,006 Net operating margin Personnel expenses Share based payment expenses Technology expenses General and administrative expenses Depreciation and amortisation expenses Total indirect expenses 3,379 9,952 13,331 (4,053) 17,037 12,984 10,450 0 10,450 9,170 71 9,241 2,930 0 2,930 4,078 0 4,078 4,459 0 4,459 3,245 0 3,245 4,281 0 4,281 7,728 0 7,728 1,438 0 1,438 1,046 0 1,046 23,558 0 23,558 Profit/ (Loss) before income tax (20,179) 9,952 (10,227) 25,267 (29,320) 71 25,338 16,966 Income tax (expense) / benefit 0 2,864 2,864 2,286 1,173 (12,354) 3,459 Profit/(Loss) after income tax (20,179) 12,816 (7,363) (27,034) 18,139 (8,895) Non-cash and other normalisation adjustments* Movement in expected credit loss provision 16,023 (8,093) 7,930 8,285 (8,721) (436) Share based payment expenses 2,930 0 2,930 4,078 0 4,078 Depreciation and amortisation expenses 1,438 0 1,438 1,046 0 1,046 Borrower establishment fee rebate 0 0 0 4,000 0 4,000 IPO Expenses 0 0 0 3,172 0 3,172 Income tax impact of adjustments Cash NPAT 0 212 (3,444) 1,279 (3,444) 1,491 (5,822) 2,501 (3,321) (12,275) 11,919 (356) * Cash NPAT provides a more accurate representation of the underlying profitability of the business, adjusting for the impact of non-cash and abnormal items, most significantly the movement in expected credit loss provision of $16m in FY22, which is a non-cash provision for credit losses that may occur in future financial years from the existing loan book. With GAAP requiring recognition of an expected credit loss provision expense immediately on origination of a new loan, without any indication of loan impairment and significantly ahead of recognition of the interest income priced to compensate for the expected level of credit loss risk, the expected credit loss provision expense will suppress statutory net profit during periods of loan book growth, all other things being equal. H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 29#30Key operating and financial metrics Loan book value and growth Total originations ($'000) New customer originations ($'000) Existing customer originations ($'000) Loan book (period end) ($'000) Loan book (average) ($'000) Average interest rate (%) Average funding rate (%) Net interest margin (%) Statutory Year ended 30 June 2022 Pro Forma Year ended 30 June 2022 Pro Forma Year ended Pro Forma Change % 30 June 2021 472,364 472,364 255,457 85% 302,831 302,831 136,381 122% 169,533 169,533 119,076 42% 641,744 684,992 500,831 37% 462,904 573,814 480,623 19% 15.9% 15.8% 16.3% (50bps) 4.5% 4.0% 5.8% (180bps) 11.7% 12.1% 10.6% 150bps 9.3% 8.4% 6.8% 160bps Net lending margin (%) Loan book quality Incurred credit loss ($'000) 11,354 20,866 18,626 12% Incurred credit loss to average gross loans (%) 2.5% 3.6% 3.9% (30bps) Provision rate (%) 4.9% 5.3% 5.6% (30bps) Productivity metrics Marketing to origination ratio 4.7% 4.7% 6.4% (170bps) Verification & servicing to origination ratio. 1.2% 1.2% 1.4% (20bps) Personnel to income ratio 13.4% 11.5% 11.7% (20bps) Technology to income ratio 5.7% 4.9% 4.1% 80bps General and administrative to income ratio 5.5% 4.7% 6.2% (150bps) H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 30#31Cash Flow Balance Sheet Year ended 30 June 2022 $'000 Year ended 30 June 2021 $'000 Cash and cash equivalents 30 June 2022 $'000 30 June 2021 $'000 Cash flows from operating activities Interest received Interest paid 62,747 76,464 73,829 38,231 Trade and other assets 1,839 1,894 (18,611) (10,295) Finance Receivables 1 641,013 310,196 Fee income (rebated) / received (2,265) 5,338 Expected credit loss provision (31,881) (15,375) Payments to suppliers and employees (47,577) (34,862) Property and equipment 389 642 Net cash generated / (used in) by operating activities 5,376 (1,588) Intangible assets 9,416 3,455 Deferred tax assets 9,134 11,490 Cash flows from investing activities Derivative financial instruments 8,669 Net advances to customers (342,414) (180,044) Total assets 701,326 388,766 Payments for software intangibles and equipment (6,744) Net cash used in investing activities (349,158) (3,694) (183,738) Payables and accruals 6,846 Borrowings 623,231 Cash flows from financing activities Provisions 5,700 7,324 291,541 13,405 Net proceeds from finance receivables borrowings 314,121 170,227 Lease liability 238 717 Net proceeds from /(repayment of) debt financing 16,569 (10,694) Derivative financial instruments 85 Net proceeds from share issue, net of transaction costs 67,550 Total liabilities 636,015 313,072 Principal element of lease payments (881) (969) Net cash generated by financing activities 329,809 226,114 Net assets 65,311 75,694 Cash and cash equivalents at the beginning of the period 76,464 34,779 Share capital 131,559 131,399 Net (decrease) / increase in cash and cash equivalents Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at the end of the period (13,973) 40,788 Foreign currency translation reserve 820 564 256 897 Share based payment reserve 3,368 216 62,747 76,464 Cash flow hedge reserve 6,143 (85) Accumulated losses (76,579) (56,400) Equity 65,311 75,694 684,992 500,831 Total group loan book 2 1 Includes warehouse funded loans only 2 Includes warehouse and peer-to-peer funded loans H HARMONEY ©2022 FY22 INVESTOR PRESENTATION 31 AUGUST 2022 31