MoneyHero Limited Class A Ordinary Shares (MNY) Earnings

Management highlights

### Core Strategic Direction Post-Turnaround - The multi-year strategic turnaround was completed at the end of 2025; Q1 2026 results reflect continued progress toward sustainable, profitable scaling - Growth strategy prioritizes high-yield mature markets and high-margin product verticals over low-margin raw volume, with a focus on improving unit economics and margin expansion ### Geographic Business Updates - Hong Kong is delivering strong growth driven by higher demand for margin wealth and insurance products, with disciplined customer acquisition driving substantial gross profit growth and margin expansion - Singapore provides a stable, cash-generating base to fund regional innovation, with steady growth and improving gross profit despite high market competition - Emerging markets Taiwan and the Philippines have pivoted from aggressive market share capture to profitability-focused optimization, with intentional cuts to low-margin spend to improve core margins ### Product Vertical Strategy Progress - The company is actively shifting its revenue mix from lower-margin credit cards to higher-margin wealth and insurance verticals, a strategy that is now validated by Q1 results - Wealth vertical growth is driven by efficient partnerships with licensed digital asset platforms and top-tier retail brokerages that require minimal customer acquisition subsidies - Insurance growth comes from end-to-end on-platform real-time pricing that reduces user drop-off and locks in high-margin recurring renewal revenue - Credit card promotional spend has been intentionally recalibrated to improve long-term account lifetime value, even with slight near-term gross profit compression ### AI Transformation Progress - AI has become the backbone of operations and product development, with ~90% of new code now generated by AI (then reviewed and approved by human engineers), cutting development timelines from months to weeks/days and reducing technology costs - AI automation handles ~70% of frontline consumer service inquiries, allowing the company to absorb volume growth without proportional headcount increases, lowering employee expense - AI-powered targeting has concentrated marketing spend on higher-converting traffic, reducing total marketing costs while increasing application approval rates from 36% to 48% YoY - Current AI priorities include: expanding in-house product development (especially for insurance workflows) to capture higher retained margins, growing the direct first-party membership ecosystem, rolling out cross-functional AI integration across the entire organization (including legal and compliance), and shifting AI from a pure cost-reduction tool to a driver of top-line revenue growth - Management believes AI enhances Money Hero's competitive position rather than posing a threat, as it strengthens the company's trusted direct customer relationships and operational efficiency ### Financial and Balance Sheet Updates - Combined technology, employee, and marketing costs fell 13% YoY to $8.5 million - Adjusted EBITDA loss narrowed sharply by 68% YoY to $1.1 million, putting the company on a clear path to sustainable profitability - Statutory net loss widened to $6.7 million (from $2.4 million YoY), driven entirely by non-cash accounting adjustments (warrant liability fair value changes and unrealized FX losses) and one-time non-recurring fees - The company ended the quarter with a debt-free balance sheet, $28 million in cash and cash equivalents, and $32.8 million in net current assets, providing ample strategic flexibility - Total registered group members grew 24% YoY to 9.8 million, and total approved applications grew YoY to 156,000 ### Governance Updates - Recent board changes are a strategic refresh aligned with the company's shift from turnaround restructuring to profitable scaling - The permanent CEO search remains active, with updates to be provided when concrete milestones are reached; the interim management team remains fully aligned on strategic priorities and focused on execution

Guidance

• Management maintained its full-year 2026 objective of delivering sustainable profitable scaling, building on the completed 2025 strategic turnaround and Q1 2026 progress • No changes to the core long-term strategic direction were announced; management reaffirmed its focus on shifting revenue mix to high-margin verticals and using AI to drive structural cost efficiency and future top-line growth • The company expects to fund its AI roadmap and regional expansion entirely with existing cash reserves, with no need for dilutive capital raising • Management expects AI-driven cost savings to fund further AI development iterations, with no expectations for large incremental capital expenditure for the AI roadmap

Segment performance

### Geographic Segments: - Hong Kong: Revenue of $8.5 million, up 33% year-over-year (YoY), contributing ~51.5% of total group revenue - Singapore: Revenue of $5.6 million, up 11% YoY, contributing ~33.9% of total group revenue - Hong Kong and Singapore combined contribute over 85% of total group revenue - Philippines: Revenue declined 17% YoY, following intentional cuts to low-margin marketing spend; gross profit (GP) grew despite the revenue decline - Taiwan: Revenue declined 12% YoY, following optimization of costs and marketing; gross profit improved despite the revenue decline ### Product Vertical Segments: - Wealth: Revenue of $2.5 million, up 53% YoY; contributes ~15.2% of total group revenue - Insurance: Revenue of $2.1 million, up 12% YoY; contributes ~12.7% of total group revenue - Combined wealth and insurance: Total revenue of $4.7 million, up 31% YoY, now represents 28% of total group revenue (up from 25% in the prior year period) - Banking (Personal Loans & Mortgages): Revenue of $2.8 million, up 13% YoY; contributes ~17% of total group revenue - Credit Cards: Revenue of $9 million, up 10% YoY; remains the company's primary volume engine, contributing ~54.5% of total group revenue Total group revenue for Q1 2026 was $16.5 million, up 15% YoY.

Risks & headwinds

• Organic discovery of the platform via search engines is facing growing pressure as the digital search landscape evolves and AI disrupts traffic patterns, with the most significant pressure seen in emerging markets Taiwan and the Philippines where brand recognition is lower than in core markets • All AI deployments must operate within strict compliance and governance frameworks required for a regulated cross-border financial services business, creating implementation and workflow redesign challenges • Redesigning internal workflows and upskilling existing employees to effectively leverage AI capabilities within compliance guardrails is a key ongoing operational challenge - Intentionally cutting low-margin volume in emerging markets has led to near-term revenue declines, creating market perception risks around business health in these regions - Regional currency volatility against the U.S. dollar creates non-cash unrealized FX losses that impact reported statutory net income, even with no impact on core operating cash flow

Analyst Q&A

• Q: The adjusted EBITDA loss narrowed significantly but the statutory net loss widened sharply. What explains this divergence? /

  A: The widened statutory loss comes entirely from non-cash and one-time items that do not affect actual operating cash flow. These include a $1.1 million non-cash fair value adjustment for warrant liabilities, a $2.4 million unrealized FX loss from regional currency movements against the U.S. dollar, and $1.6 million in non-recurring legal and professional fees. Stripping out these items, the core operating cost base actually declined YoY even as top-line revenue grew 15%, proving disciplined management of the business.

• Q: Total traffic, applications, and revenue have declined sharply in Taiwan and the Philippines. Is this an unintended collapse from market share losses, or an intentional downsizing/soft exit? /

  A: This is intentional execution of the company's profitability strategy. Resources have been reallocated to core high-return Hong Kong and Singapore markets, and low-ROI marketing for low-intent users was cut in the two emerging markets. Despite the 12% and 17% YoY revenue declines, the company optimized costs and monetized remaining traffic so efficiently that combined gross profit for both markets increased more than 40% YoY. This is not a soft exit or market share loss, but proof of the model's resilience amid organic traffic headwinds.

• Q: What should investors take away from the recent board changes? /

  A: All board changes are a strategic refresh aligned with the company's new inflection point, after completing the 2-year restructuring phase. The company is now firmly in the AI-driven profitable scaling phase, and the updated board brings targeted expertise in fintech scaling, digital consumer platforms, capital allocation, and M&A governance that matches the needs of this new chapter. There is full alignment between the refreshed board and interim management on all core strategic priorities.

• Q: With the company approaching break-even and a permanent CEO search ongoing, what is the current approach to M&A and cash usage? /

  A: The top capital allocation priority remains organic reinvestment in the group-wide AI rollout and scaling of high-margin wealth and insurance verticals, funded by the company's healthy debt-free cash balance. The board is open to evaluating selective market consolidation M&A opportunities, but will only pursue transactions that meet strict predefined return criteria and deliver clear long-term shareholder value. The CEO search remains active, with updates to be shared when concrete milestones are reached.