Humm : Sale of hummgroup Consumer Finance to Latitude Presentation

CONSIDERATION FOR

Aggregate consideration of A$335 million representing 13.4x Cash NPAT1 and 1.8x P/NTA2

150 million Latitude shares3 plus $35 million in cash with proceeds to be fully distributed to HUM

onlyHCF

use

shareholders

flexicommercial, and

`

COMMERCIAL

HUM will continue to fully own HUM's strongly performing Commercial business,

will remain an ASX-listed company

RATIONALE FOR

Combination of HCF with Latitude will create a leading and profitable pure-play consumer

COMBINATION

finance business

ersonal

HUM shareholders will be asked to vote on the HCF transaction and associated

NEXT STEPS

resolutions at a date to be determined

As consideration for HCF Latitude has

• HUM shareholders will receive approximately $0.68 per share, consisting of 0.30

ffered:

Latitude shares and $0.07 cash

only

• By receiving Latitude shares as consideration, HUM shareholders could further

•

150 million Latitude shares5

• $35 million in cash

benefit from any potential enhanced scale and efficiencies of Latitude's enlarged

consumer finance platform

use

• HUM shareholders will retain full ownership of the flexicommercial business,

which will continue as a well capitalised ASX-listed company

After completing the sale of HCF and distributing the share and cash consideration to

HUM intends to distribute the entire

HCF consideration of

shareholders, HUM expects that it will have unrestricted cash, which will be first applied

150 million Latitude shares and $35

to the retirement of its perpetual note (c. $55 million est. as at 30 June 2022).

million in cash to shareholders

Thereafter, the HUM Board will take a disciplined approach in allocating the

ersonal

remaining unrestricted cash between investing further in the accelerated growth

of the Commercial business and capital management initiatives

4. Assuming a Latitude share price of $2 per share. 5. Subject to Latitude shareholder approval. Refer note 2 ASX announcement for further details.