Heartland trading update

NZX/ASX release 16 April 2025 Heartland trading update Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) today provides a trading update for the three months to 31 March 2025 (Q3). Heartland remains on track to achieve net profit after tax (NPAT) on an underlying basis for the financial year ending 30 June 2025 (FY2025) of at least $45 million. Net interest margin (NIM) expanded 28 basis points in Q3 (relative to the six-month period ended 31 December 2024 (1H2025)), with improvement seen in both Heartland Bank Limited (Heartland Bank) and Heartland Bank Australia Limited (Heartland Bank Australia). Operating expenses (OPEX) in Q3 remained stable – both banks are on track to meet OPEX expectations for the six-month period ending 30 June 2025 (2H2025) (as detailed below). Cost management programmes are in place to improve operational efficiency moving forward. Asset quality improvements are starting to show in Heartland Bank’s Motor Finance portfolio following the introduction of more prescriptive collections and recoveries policies for the New Zealand bank as announced on 18 February 2025. As a result, early recovery efforts for the Motor Finance loans written off in February 2025 have exceeded expectations. Heartland is focused on sustainable, profitable growth, and has seen compelling gross finance receivables (Receivables) growth in Reverse Mortgages and Livestock Finance in New Zealand and Australia. For the full announcement, see the attachments to this release: - HGH 3Q2025 trading update - HGH investor presentation - 3Q2025 trading update – ENDS – The person who authorised this announcement: Andrew Dixson, Chief Executive Officer For further information and media enquiries, please contact: Nicola Foley, Head of Corporate Communications & Investor Relations +64 27 345 6809, nicola.foley@heartland.co.nz Level 3, Heartland House, 35 Teed Street, Newmarket, Auckland, New Zealand