(1)Total assets under management as at 30 June 2024.

Pepper Money is one of the largest nonbank lenders in the Australian mortgage and asset finance markets. It commenced business in Australia in 2000 as a provider of home loans to consumers who fall just outside the lending criteria of traditional bank and nonbank lenders. Pepper Money has subsequently broadened its Australian business activities to include the origination of prime residential mortgages, commercial real estate loans, SMSF mortgages, auto and equipment finance, novated leasing, and third-party loan servicing and broker servicing.

In 2019, Pepper Money expanded its focus to include residential mortgages in New Zealand. In December 2023, Pepper Money completed the acquisition of HSBC’s New Zealand prime residential mortgage portfolio. At completion, the mortgage portfolio acquired was NZ$1.1 billion in outstanding balance.

The core segments in which Pepper Money operates are:

• Mortgages: financing residential home loans, small balance commercial real estate and SMSF loans.
• Asset finance: financing a range of asset types for consumer, commercial and novated lease customers.
• Loan and other servicing: the provision of independent loan servicing including residential home loans, asset finance loans and personal loan servicing.

At 30 June 2024, Pepper Money had A$19.3 billion of assets under management.

After completing a corporate restructure to demerge the Australian, New Zealand and Manila operations from the rest of Pepper Global Group, Pepper Money converted to a public 1,000 company and listed on the ASX on 25 May 2021. Pepper Group ANZ Holdco Limited, part of Pepper Global Group, retained 60.6% of the share capital of Pepper Money.

Pepper Money’s debt funding strategy provides ongoing, efficient funding to support growth and to manage periods of market disruption. The funding approach is designed to deliver:

• Access to efficient, scalable funding, enabling Pepper Money to support forecast growth in lending volume.
• Access to loan eligibility criteria across its funding facilities, enabling Pepper Money to meet the needs of a wide range of loan customers and capitalise on market opportunities. Capability to originate through economic and market cycles, enabling Pepper Money better to serve the evolving needs of its loan customers and distribution partners through a range of market conditions.
• Stability of funding, supported by diversity across financiers, markets, currencies, and funding structures and facilities.

Pepper Money aims to be a programmatic issuer in benchmark size into a globally diversified investor base, across a number of asset classes. To achieve this, the company issues a variety of tenors, currencies and repayment formats. It began issuing securitisation deals in 2003 and has a 100 per cent track record of calling every deal at the first available call date. From 2003 to 30 August 2024, Pepper Money has completed 64 public securitisations raising more than A$41.3 billion.

Pepper Money operates a proactive engagement model with its global investor base. This includes face-to-face and other forms of one-on-one engagement to provide investors the opportunity to discuss all relevant topics. These include updates on corporate strategy, an indication of the issuance pipeline for the next 12-18 months and any new asset classes or platforms that will be coming to market. This is augmented with deal-specific roadshows when required.

Pepper Money issues Australian RMBS from three public platforms: Pepper Prime, Pepper Residential Securities (PRS) and Pepper Social Trust. It issues ABS through its SPARKZ public platform.

Anthony Moir, Treasurer
+61 402 077 903
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Steven Fischer, Deputy Australian Treasurer
+61 413 782 557
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www.pepper.com.au