Announcement PDF 5 Cathryn Lyall Non-Executive Director (BA, MA) Ms Lyall is a highly experienced senior executive, board member and strategic adviser with over 35 years of experience across finance, banking, government and fintech in Australia and the United Kingdom. Ms Lyall is a Partner at Seed Space Venture Capital and holds non-executive director roles at several unlisted fintech companies. She is a former non-executive director of peak industry body, Fintech Australia having recently moved to the Advisory Board. Ms Lyall's extensive experience in the Australian and British financial services sectors includes roles at the Chicago Mercantile Exchange, Nasdaq and the London Stock Exchange. Most notably, she was previously a non-executive director at Deutsche Bank UK Bank, sitting on the Bank's Board Risk Committee (BRC), the Listed Derivatives Risk and Compliance Committee (LDRCC) and the Nomination Committee as Chair. Wisr roles: Chair of People, Culture and Remuneration Committee Member of Audit and Risk Committee Listed directorships: Former directorships (last 3 years): None Other current directorships: None Kate Whitney Non-Executive Director (BA) Ms Whitney is a highly experienced senior executive with over 25 years of experience in Australian consumer marketing, accelerating growth, product expansion and driving customer acquisition through digital, data and analytics across marketing, advertising in categories including subscription television, FMCG, financial services, telecommunication, luxury and retail. Between 2020 and 2022, she held the position of Chief Marketing and Growth Officer for Marley Spoon Australia (ASX: MMM), and in early 2023 was appointed as Chief Digital and Technology Officer for Treasury Wine Estates (ASX: TWE). In her current role, Ms Whitney has oversight of all of the company's technology, cyber-security and information systems globally, as well as the critical digital, data and AI strategies and investment across the company. Previously, Ms Whitney spent six years as the Director of Digital at Pernod Ricard, both in Australia and the US. Prior to that, she was the General Manager of Marketing at David Jones. Wisr roles: Member of Audit and Risk Committee Member of People, Culture and Remuneration Committee Listed directorships: Former directorships (last 3 years): None Other current directorships: None 33 WISR LIMITED • ANNUAL REPORT 2026 DIRECTORS’ REPORT For the year ended 30 June 2026 35 DIRECTORS’ REPORT For the year ended 30 June 2026 The directors present their report, together with the financial statements, on the consolidated entity (also referred to hereafter as the Group) consisting of Wisr Limited (referred to hereafter as the Company or Parent Entity) and the entities it controlled at the end of, or during, the year ended 30 June 2026. DIRECTORS The following persons were directors of the Company during the whole of the financial year and up to the date of this report, unless otherwise stated: Name Position Matthew Brown Non-Executive Chair Cathryn Lyall Non-Executive Director Kate Whitney Non-Executive Director Craig Swanger Non-Executive Director (up to 11 September 2025) Particulars of each director’s experience and qualifications are set out later in this report. PRINCIPAL ACTIVITIES During the financial year, the Group’s primary activity was writing personal loans and secured vehicle loans for 3, 5 and 7-year maturities to Australian consumers. REVIEW OF OPERATIONS Key Group highlights include: Loan book • Closing loan book1 of $1,084.0M, a 32% increase on Jun-25 ($824.0M), comprising personal loans of $664.8M (Jun-25: $535.4M) and secured vehicle loans of $419.2M (Jun-25: $288.6M), and surpassing $1 billion for the first time • Record loan originations of $695.3M, a 65% increase on FY25 ($422.0M) • Personal loan originations of $415.3M, a 53% increase on FY25 ($271.3M) and secured vehicle loan originations of $280.0M, an 86% increase on FY25 ($150.7M) 1 Closing loan book is a non-IFRS measure representing gross customer principal, before ECL provision and effective interest rate adjustments; refer Note 5 for loans and advances at amortised cost WISR LIMITED • ANNUAL REPORT 2026 DIRECTORS’ REPORT For the year ended 30 June 2026 36 Review of operations (cont.) • Loan book average credit score2 remained strong at 807 (Jun-25: 804) • 90+ day arrears improved 39 bps to 1.01% (Jun-25: 1.40%) • Net losses improved 41 bps to 1.38% of average loan balances (FY25: 1.79%), reflecting continued improvement in underlying credit performance Financial performance • Cash NPAT3 of $1.0M, a $6.3M improvement (FY25: $(5.3)M), representing Wisr’s first full year of Cash NPAT profitability • Revenue increased 19% to $108.8M (FY25: $91.6M), driven by strong loan book growth and a higher average loan book balance • Cost-to-income ratio improved to 28% (FY25: 31%), with operating expense growth of 7% well below revenue growth of 19%, demonstrating emerging operating leverage • Portfolio yield decreased 20 bps to 11.00% (FY25: 11.20%), as the benefit of front-book pricing increases implemented during the year was offset by the portfolio mix shift towards secured vehicle loans, which carry lower yields and credit losses • Portfolio Net Interest Margin (NIM4 ) decreased 19 bps to 5.27% (FY25: 5.46%), reflecting the reduction in portfolio yield • Portfolio Risk-Adjusted Margin (RAM5 ) increased 22 bps to 3.89% (FY25: 3.67%), as the improvement in net losses more than offset NIM compression, demonstrating the quality of the loan book and the lower loss profile of secured vehicle loans Capital and funding • In November 2025, Wisr completed a well-supported $10.6M equity raise, with proceeds used to repay $7.5M of the corporate debt facility and support loan origination growth and contributing to Cash NPAT profitability in FY26 • In the same month, the Company also refinanced its corporate debt facility, delivering a material reduction in interest margin. At Jun-26, $27.5M was drawn from the $50.0M facility • In May 2026, Wisr priced its sixth and largest ABS transaction, the $354M Wisr Momentum Trust 2026-1, upsized from $300M, the Company’s first cross border combined personal loan and secured vehicle loan ABS • The Company’s three warehouse facilities have total commitments of $887M (Jun-25: $917M), with $364M of undrawn capacity following the May 2026 ABS transaction • The business remains well capitalised with unrestricted cash of $16.6M (Jun-25: $14.1M) Customers • Strong customer Net Promoter Score of +82 (FY25: +75) and broker Net Promoter Score of +80 • Named The Adviser’s #1 non-bank lender for personal loans, as voted by The Adviser’s broker network • 44,178 customers in the loan book, a 17% increase on Jun-25 (37,709) 2 Total loan book weighted average Equifax credit score is the score at the time of application, includes active loans and excludes loans written off 3 Cash NPAT is calculated as Net Interest Margin less net loan losses, operating expenses and cash corporate facility costs. It excludes below-the-line non-cash items including share-based payments, depreciation and amortisation, ECL provision movements and mark-to-market adjustments. 4 NIM defined as loan book yield (calculated on an effective interest rate basis, inclusive of amortised broker commissions and establishment fee income) less finance costs, excluding corporate facility interest cost and hedge accounting impacts 5 RAM defined as NIM less net loan losses during the period WISR LIMITED • ANNUAL REPORT 2026 DIRECTORS’ REPORT For the year ended 30 June 2026 37 Review of operations (cont.) LOAN BOOK FY26 was a landmark year for Wisr, highlighted by the Company delivering its first full year of Cash NPAT profitability, comfortably outperforming H2FY26 profitability guidance, and scaling the loan book beyond $1 billion. Building on the growth trajectory re-established in FY25, the Company executed its growth strategy while maintaining disciplined credit management and operational efficiency. Ongoing investments in automation, AI-driven decisioning and customer experience strengthened the Company’s competitive position and scalability. Wisr delivered $695.3M in new loan originations, a 65% increase (FY25: $422.0M), exceeding the Company’s full-year origination growth guidance of 50%+. This momentum drove a 32% increase in the loan book to $1,084.0M as at 30-Jun-26 (Jun-25: $824.0M). Credit quality continued to strengthen across key metrics. The average loan book credit score remaining strong at 807 (Jun-25: 804) and 90+ day arrears improved 39 bps to 1.01% (Jun-25: 1.40%), reflecting Wisr’s disciplined credit settings and the continued beneficial impact of its arrears management platform. Additionally, net losses improved 41 bps to 1.38% of average loan balances (FY25: 1.79%), demonstrating portfolio resilience alongside accelerated growth. FINANCIAL PERFORMANCE In FY26, portfolio yield decreased 20 bps to 11.00% (FY25: 11.20%), driving a 19 bps decrease in NIM to 5.27% (FY25: 5.46%). Portfolio yield performance reflected front-book pricing increases implemented during the year, which were offset by a portfolio mix shift toward secured vehicle loans carrying lower yields and credit losses. Despite NIM compression, RAM increased 22 bps to 3.89% (FY25: 3.67%). This expansion was driven by lower net losses that more than offset the yield decline, demonstrating strong loan book quality and the lower loss profile of secured vehicle lending. Revenue for FY26 increased 19% to $108.8M (FY25: $91.6M), exceeding guidance of 15%+, driven by strong loan book growth and higher average loan balances. Wisr delivered Cash NPAT of $1.0M, a $6.3M improvement (FY25: $(5.3)M) marking the Company’s first full year of Cash NPAT profitability. This outcome was supported by revenue growth, reduced net losses, and strong operating leverage. The cost-to-income ratio improved to 28% (FY25: 31%), as operating expense growth was restricted to 7% against 19% revenue growth. CAPITAL AND FUNDING In FY26, the Company completed several significant funding and capital management initiatives to improve its balance sheet strength and flexibility. In November 2025, Wisr completed a well-supported $10.6M equity raise, with proceeds used to repay $7.5M of the corporate debt facility and support loan origination growth. In the same month, the Company also refinanced its corporate debt facility, delivering a material reduction in interest margin. At Jun-26, $27.5M was drawn from the $50.0M facility. In May 2026, Wisr priced its sixth and largest ABS transaction, the $354M Wisr Momentum Trust 2026-1, upsized from $300M. The transaction was Wisr’s first combined personal loan and secured vehicle loan ABS, achieving AAA Moody’s ratings for the Class A and Class A-X notes, and was also the Company’s first ABS structured to satisfy EU and UK risk retention requirements, broadening Wisr’s international investor base. WISR LIMITED • ANNUAL REPORT 2026 DIRECTORS’ REPORT For the year ended 30 June 2026 38 Review of operations (cont.) As at 30-Jun-26, Wisr’s total warehouse commitments stood at $887M (Jun-25: $917M), with $364M of undrawn capacity following the May 2026 ABS transaction. Facility limits were actively managed during the year to optimise commitment fees alongside the increased cadence of ABS issuance. The business is well capitalised with unrestricted cash of $16.6M (Jun-25: $14.1M). CUSTOMERS Customers remain central to Wisr’s purpose. In FY26, Wisr achieved a customer Net Promoter Score of +82 (FY25: +75), and a broker Net Promoter Score of +80, reflecting the strength of the experience delivered across both its broker and direct channels. Wisr was also named The Adviser’s #1 non-bank lender for personal loans, as voted by The Adviser’s broker network. As of 30-Jun-26, Wisr supported 44,178 active loan customers, a 17% year-on-year increase (up from 37,709 as of 30-Jun-25). Since inception, Wisr has originated 99,216 loans totalling $2.9 billion, with 19,543 written in FY26. During FY26, Wisr continued to invest in customer experience through targeted automation and artificial intelligence initiatives, including AI document fraud detection, automated asset verification, AI verification agents supporting credit assessors, and streamlined income verification. These initiatives reduced friction in the application process, shortened approval times and strengthened fraud controls, while maintaining disciplined credit outcomes. GOVERNANCE AND RISK MANAGEMENT FRAMEWORK Wisr faces a range of risks as a non-bank consumer lender. The Wisr Board holds ultimate responsibility for risk governance, setting the organisation’s risk appetite through the Risk Appetite Statement, approving and reviewing Wisr’s risk management strategy, and Wisr’s Enterprise Risk Management Framework (ERMF) to ensure alignment with business objectives and regulatory obligations. The Wisr Board oversees the assessment of material risks, monitors performance against Wisr’s risk appetite, and endorses risk management plans. Senior management is responsible for implementing the Board-approved framework and plans, embedding risk management practices into daily operations, maintaining compliance with regulatory requirements, and fostering a strong culture of risk awareness. Wisr’s risk management framework follows the ‘three lines of defence’ model. The first line - Wisr’s front-line employees and management - own and manage risks within their functions, embedding preventative controls into everyday operations. The second line - Wisr’s operational risk and compliance functions - provides oversight, establishes enterprise-wide controls, monitors adherence to policies and regulations, and advises on risk and compliance matters. The third line - Wisr’s internal and external audit functions - provides independent assurance to the Board and senior management on the adequacy and effectiveness of the ERMF, the risk management strategy, and related controls, evaluating the performance of both the first and second lines to ensure the framework operates effectively in supporting Wisr’s operations and strategic objectives. WISR LIMITED • ANNUAL REPORT 2026 DIRECTORS’ REPORT For the year ended 30 June 2026 39 Review of operations (cont.) Wisr has the following Committees in place to monitor and implement Wisr’s risk management strategy and ERMF across all business operations: • Board Audit and Risk Committee, Chaired by the Non-Executive Chair, Matthew Brown • Management Risk Management Committee, Chaired by the Head of Operational Risk, David King • Pricing and Product Committee, Chaired by Head of Credit Risk, Data & Analytics, Alex Maizy Key Wisr business risks include: Risk Controls/monitoring Economic risk Economic risk is the potential for changes in inflation, unemployment, interest rates, government policy, and the volatility or performance of global and Australian capital markets to impact the business and its operating environment. Deterioration in employment conditions or household financial resilience may reduce demand for credit, increase arrears and credit losses, and affect the availability and cost of funding. • Wisr closely monitors changes in Australian and global economic conditions that could affect access to capital. • Wisr’s Board, Board Audit and Risk Committee, and Wisr’s Management Risk Committee regularly review capital management matters such as capital position, warehouse capacity, hedging strategies, parameter reporting, and other relevant factors to support informed decision-making and maintain financial resilience. • Macroeconomic scenarios, including unemployment stress scenarios, are incorporated into budgeting, forecasting and expected credit loss modelling, with outcomes reported to the Board. • Credit settings, including origination criteria and pricing, are adjusted in response to observed and forecast changes in economic conditions. Credit risk The risk of financial loss due to a customer or counterparty failing to meet their obligations. Changes in a customer's financial situation may lead to credit losses, reduced operating cash flows, higher credit impairment costs, increased funding expenses, and limited access to funding. • Wisr has a well-established credit risk framework that supports consistent, compliant, and prudent lending decisions. The framework combines robust governance, clear policies, defined processes, active monitoring, and ongoing capability development to manage credit risk throughout the lending lifecycle. o Governance and oversight: The Wisr Board, Board Audit and Risk Committee, Risk Management Committee, and the Pricing and Product Committee provide oversight to ensure credit activities operate within a defined risk appetite and meet strategic and regulatory requirements. o Policies and Procedures: Credit and collections policies set clear standards for lending and arrears management, incorporating customer data, credit bureau information, collateral assessments, and regulatory obligations. Well- defined procedures cover the entire credit lifecycle—from application assessment, verification, and approval through to collections activity—ensuring both lending and recovery decisions are consistent, efficient, and supported by strong risk controls. o Monitoring and Reporting: Portfolio performance, arrears, hardship cases, and other key risk indicators are regularly monitored. Findings are regularly reviewed by management, the Risk Committee, and the Board to track emerging risks, assess the effectiveness of credit and collections policies, and implement timely actions. o Capability and Continuous Improvement: Capability is strengthened through delegated lending authority (DLA) training and ongoing professional development, ensuring credit decisions are consistent and aligned with the company’s risk appetite. Hindsight reviews, quality assurance processes, and loss analysis are used to assess performance and drive enhancements to credit and collections practices. WISR LIMITED • ANNUAL REPORT 2026 DIRECTORS’ REPORT For the year ended 30 June 2026 40 Review of operations (cont.) Risk Controls/monitoring o Collateral and recovery: Secured vehicle lending is subject to asset eligibility criteria, valuation and verification at origination with recovery and realisation processes managed through established channels. o Provisioning and model governance: Expected credit loss models are documented, periodically recalibrated against emerged loss experience, and subject to management and Board Audit and Risk Committee review, with management overlays applied and documented where appropriate. Funding and securitisation risk Wisr funds its loan book through warehouse facilities provided by third- party financiers and through term asset-backed securitisation (ABS) transactions. The risk that Wisr is unable to renew, replace or expand these facilities on acceptable terms, to execute term ABS transactions at acceptable pricing, or to satisfy the structural and regulatory requirements of those arrangements, could constrain origination growth, increase the cost of funds, or adversely affect earnings and the ability to operate at scale. • Warehouse facility limits, tenor and renewal dates are monitored and reported to the Board and the Board Audit and Risk Committee, with renewals progressed in advance of expiry. • Funding is diversified across multiple warehouse financiers and a regular programme of term ABS issuance, reducing reliance on any single funding source or counterparty. • ABS markets are monitored to execute term deals that enhance capacity and, where possible, reduce the cost of funds, with investor demand and comparable transaction pricing informing transaction timing, structure and sizing. • Compliance with facility covenants, portfolio parameters and eligibility criteria is monitored and reported, with headroom assessed against forecast origination volumes. • Structural and regulatory requirements of funding arrangements, including EU and UK risk retention obligations, are assessed with external legal and transaction advisers. • Equity note and first-loss funding requirements are incorporated into capital and liquidity forecasting, so that capital available to support planned book growth is assessed alongside earnings. Liquidity risk The risk of an adverse impact on Wisr’s earnings or operations arising from insufficient funds to meet obligations as they fall due, including settlement of loan originations, servicing of funding facilities, and corporate operating costs. • Wisr maintains adequate funds to support new loan originations, settle maturing liabilities, and meet defined liquidity requirements. • Unrestricted and restricted cash balances are monitored, with rolling cash flow forecasts prepared and reviewed by management. • Minimum liquidity thresholds are defined in the Risk Appetite Statement, with performance against those thresholds reported to the Board. • Wisr engages regularly with capital partners, funding partners, and relevant advisors. Interest rate and basis risk Wisr originates fixed-rate consumer loans that are predominantly funded through floating-rate warehouse and securitisation facilities referenced to BBSW. Movements in interest rates, changes in the relationship between benchmark rates and funding costs, and timing differences between repricing of the front book and the cost of funds may compress net interest margin. Hedging arrangements entered into to manage this exposure may be imperfect, giving rise to hedge ineffectiveness and volatility in reported results. • Interest rate exposure is managed through a portfolio of interest rate swaps that convert floating-rate funding obligations to fixed, with hedge positions sized against the fixed-rate loan book. • Hedge positions, notional balances and counterparty exposures are reconciled to counterparty confirmations and independent valuations on a regular basis. • Hedge effectiveness is assessed and documented in accordance with AASB 9, with ineffectiveness monitored and reported. • Front book pricing is reviewed by the Pricing and Product Committee with reference to prevailing funding costs, benchmark rates and competitor pricing. • Portfolio yield, cost of funds and net interest margin are monitored monthly and reported to the Board. • Interest rate scenarios and sensitivities are incorporated into budgeting, forecasting and capital planning. WISR LIMITED • ANNUAL REPORT 2026 DIRECTORS’ REPORT For the year ended 30 June 2026 41 Review of operations (cont.) Risk Controls/monitoring Compliance and regulatory risk The risk of legal or regulatory action, financial loss, or reputational harm due to failure to comply with applicable laws, regulations, codes of conduct, and standards of good practice. Wisr holds an Australian Credit Licence and is subject to obligations including the National Consumer Credit Protection Act and responsible lending obligations, design and distribution obligations, financial hardship requirements, privacy and credit reporting laws, and anti-money laundering and counter-terrorism financing obligations. Changes to these regimes, or to their interpretation and enforcement, may increase compliance costs or require changes to products, processes or systems. • Wisr manages regulatory and compliance risk to ensure the business operates in line with applicable laws, regulations, codes of conduct, and recognised standards of good practice, while also managing operational risk to minimise financial loss and protect the company’s reputation. • Regulatory and compliance risk is overseen by the Operational Risk and Compliance team, which implements policies, processes, and practices aligned with the Risk Management Framework. These are reviewed by the Risk Committee and the Board to ensure they remain effective and appropriate. • The Company’s Legal, Operational Risk & Compliance team provides independent advice and oversight on regulatory compliance, and supports the business in implementing regulatory changes. • Regulatory change is monitored, with the impact of proposed and enacted reforms assessed and implementation plans developed and tracked. Technology, artificial intelligence and automated decisioning risk Wisr uses automated decisioning, machine learning and artificial intelligence in its business, including in credit assessment, verification, fraud detection and customer servicing. The risk that models or automated processes produce inaccurate, biased, unexplainable or non-compliant outcomes, that model performance degrades over time, or that reliance is placed on third-party providers whose performance or availability Wisr does not control, could result in poor customer outcomes, credit losses, regulatory action or reputational harm. • Models used in credit decisioning are documented, validated prior to deployment, and subject to ongoing performance monitoring against expected outcomes. • Automated decisions operate within credit policy parameters approved under the credit risk framework, with defined escalation to human assessors for cases falling outside those parameters. • Hindsight reviews and quality assurance processes test the consistency and appropriateness of automated and assisted decisions. • Model performance, override rates and exception reporting are reviewed by management and reported to the Risk Committee and the Board. • Use of artificial intelligence is governed by internal policies covering permitted use cases, data handling, human oversight and record- keeping, aligned to privacy and consumer credit obligations. • Third-party technology and artificial intelligence providers are subject to due diligence, contractual protections, and ongoing performance and security review. Cyber security and system stability Cybersecurity and the stability and availability of systems are critical to Wisr’s business. A breach or significant outage, whether within our own systems or those of key third-party providers, could compromise customer data or corporate intellectual property, interrupt service delivery, and adversely affect customer trust, our reputation, or our ability to deliver on strategic objectives. • Wisr maintains a robust cybersecurity and operational resilience framework to protect its systems and ensure business continuity. Key controls within the framework include: • Strong technical safeguards, including encryption, access management, firewalls, and regular vulnerability testing. • Continuous system monitoring with automated alerts and regular reporting to the Risk Committee and Board. • Business continuity and incident response plans, supported by infrastructure that enables rapid redeployment to minimise downtime. • Ongoing cybersecurity training for staff, supported by regular risk assessments of internal systems and external service providers. • Third-party and supply chain risk, including cloud, data and artificial intelligence service providers, are assessed through due diligence on each new material vendor prior to onboarding, contractual protections, and ongoing security monitoring and testing with formal review at least annually. • Aligned to ISO 27001, we continuously run risk assessments, performance metrics, and internal audits, plus vulnerability scans, WISR LIMITED • ANNUAL REPORT 2026 DIRECTORS’ REPORT For the year ended 30 June 2026 42 Review of operations (cont.) Risk Controls/monitoring penetration tests, and tabletop exercises, reviewing our policy as threats evolve. Strategy and competition risk Advances in technology and growing competition from new and existing lenders could affect the current business model. Wisr also originates a significant proportion of its lending through broker and aggregator channels. The loss of, or a material change in the terms of, key distribution relationships, or a reduction in Wisr’s competitiveness within those channels, could adversely affect origination volumes and growth. • Wisr actively monitors and assesses the competitive environment and commits capital to invest in new initiatives through a rigorous capital allocation process. • The Executive undertakes quarterly planning to set and review Objectives and Key Results (OKRs) and key initiatives, incorporating both short and long-term planning. • Executive and Senior Leadership Team (SLT) strategy sessions, together with Board strategy reviews, ensure alignment of priorities, assessment of progress, and responsiveness to changes in the market environment. • Broker and aggregator relationships are actively managed, with distribution performance, channel mix and concentration monitored and reported to management and the Board. Talent and culture risk The risk that Wisr may be unable to attract, develop, and retain the talent needed to sustain a strong, high- performing culture, which could impact the delivery of strategic objectives and business performance. • Wisr promotes a positive and supportive workplace through a hybrid working policy, and access to internal and third-party Employee Assistance Programs. A dedicated Employee Experience team oversees day-to-day people matters and delivers initiatives that enhance the employee experience. • Talent management is driven by inclusive recruitment practices, professional development opportunities, organisation-wide training, competitive remuneration, wellbeing initiatives, and learning and career development programs. • Succession planning for critical roles is maintained and reviewed regularly to ensure continuity in leadership and the development of future capability. • Employee engagement is evaluated through culture surveys, with leaders creating targeted action plans based on the findings. TALENT AND CULTURE Wisr’s executive leadership was strengthened during the year with the appointment of Sam Harding as Chief Operating Officer in August 2025. Sam brings valuable operatio