FleetPartners Group Advances Share Buyback, Repurchasing 51,929 Shares on 22 July 2026

Overview of FleetPartners Group’s On-Market Buyback Program and Authorization

FleetPartners Group Limited has implemented a structured on-market buyback program for its ordinary fully paid shares, appointing UBS Securities Australia Limited as the broker to facilitate share repurchases. The program was approved and publicly notified on 10 March 2026 and commenced trading on 24 March 2026, with a scheduled end date of 31 March 2027. The company authorized up to AUD 20 million in total buyback spending, underscoring its commitment to effective capital management and enhancing shareholder value.

The daily notification issued on 23 July 2026 provides an update on the previous day’s buyback activity. Notably, no shareholder approval was required to initiate this buyback, allowing for streamlined execution. FleetPartners reserves the right to suspend or terminate the program at any point, granting management flexibility to respond to market conditions, liquidity, or strategic priorities. This approach aligns with standard practices for ASX-listed companies conducting on-market capital management initiatives.

Details of 22 July 2026 Share Repurchase: 51,929 Shares Acquired

On 22 July 2026, FleetPartners repurchased 51,929 ordinary fully paid shares at prices between AUD 2.81 and AUD 2.88 per share, totaling AUD 147,871.41 in cash consideration. The average price for this transaction was approximately AUD 2.84 per share. The prices paid complied with ASX Listing Rule 7.33, which capped the maximum allowable price on that day at AUD 3.0342.

Price variations during the buyback reflect prevailing market conditions. The lowest purchase price recorded since the program started was AUD 2.32 on 25 March 2026, while the highest was AUD 3.04 on 13 July 2026. These price fluctuations demonstrate the company’s engagement in genuine open-market transactions, with prices determined by real-time market dynamics rather than fixed rates. The company’s daily reporting ensures transparency and regulatory compliance throughout the buyback period.

Cumulative Buyback Progress: 3,337,205 Shares Repurchased Since March 2026

Since the program’s launch on 24 March 2026, FleetPartners has repurchased a total of 3,337,205 shares, investing AUD 9,377,262.78. This represents about 1.55% of the total issued ordinary fully paid shares, which number 215,966,779. The cumulative expenditure accounts for approximately 47% of the authorized AUD 20 million budget, indicating the company is progressing steadily toward utilizing the full allocation by the program’s scheduled end on 31 March 2027. The final pace and total amount will depend on market conditions and management discretion.

The average purchase price across all repurchases to date is approximately AUD 2.81 per share. This average reflects a range of prices paid during the four-month execution window, including lower prices in March and higher prices in July. The steady repurchase rate, averaging around 26,000 shares daily on an annualized basis, indicates a measured and disciplined capital return strategy rather than aggressive accumulation. This ongoing buyback activity signals management’s confidence in the program.

Impact on Capital Structure and Share Count Reduction

The buyback program reduces FleetPartners Group’s outstanding share count, which influences per-share financial metrics important to investors. With 3,337,205 shares repurchased so far, the company’s effective share count has decreased from the original capital base. If the full AUD 20 million is spent at prices consistent with current averages, approximately 7.1 million shares would be retired, equating to roughly 3.3% of the issued capital. This reduction can enhance earnings per share and other metrics sensitive to share count, assuming business performance remains stable.

Capital used for buybacks is cash not deployed toward debt repayment, working capital, acquisitions, or dividends. FleetPartners’ choice to prioritize share repurchases reflects management’s view that current market valuations justify this capital allocation. This strategy is relevant for investors assessing how the company deploys cash to maximize long-term shareholder value. Additionally, the buyback program can help offset dilution from employee share schemes, although no details of such schemes were disclosed in the current report.

Broker Engagement and ASX Compliance for Daily Reporting

UBS Securities Australia Limited (ABN 62 008 586 481), an ASX-licensed broker, manages all share repurchases under the buyback program. Utilizing a professional broker ensures compliance with regulatory standards and market best practices. All purchases are executed on-market, meaning shares are acquired via standard ASX trading mechanisms at market-determined prices rather than through off-market negotiated transactions.

FleetPartners adheres to ASX Listing Rule 3.8A, which mandates daily buyback notifications be submitted at least 30 minutes before trading on the business day following any buyback activity. The notification dated 23 July 2026 reports transactions from 22 July 2026, demonstrating compliance. All transactions settle in Australian Dollars through standard ASX settlement systems. The company has observed Listing Rule 7.33 price caps throughout the program.

Market Pricing Trends During the Buyback Period

Shares of FleetPartners have traded between AUD 2.32 and AUD 3.04 during the buyback period from 24 March to 22 July 2026. The lowest price of AUD 2.32 was recorded on 25 March 2026, shortly after the program commenced, while the highest price of AUD 3.04 occurred on 13 July 2026. This range reflects the company’s willingness to repurchase shares across varied market conditions and price levels, consistent with a disciplined capital management approach rather than opportunistic buying.

The 31% spread between the lowest and highest execution prices over four months indicates normal market volatility. The 22 July 2026 repurchases occurred at prices in the lower-to-middle segment of this range, illustrating that the buyback is not contingent on specific price thresholds but is an ongoing commitment within the authorized capital management framework.

Shareholder Approval and Regulatory Authorization Details

The company confirmed that no shareholder approval was required for this buyback program. This indicates that authorization stems from existing shareholder resolutions or the company’s constitution and complies with the Corporations Act 2001 (Cth). Australian securities law permits on-market buybacks without fresh shareholder approval if conducted within authorized limits and regulatory requirements. FleetPartners’ on-market buyback method ensures equal access for all shareholders to sell shares at prevailing market prices during the program.

The absence of a shareholder approval requirement facilitates flexible and efficient execution. Nevertheless, the company maintains strict disclosure obligations, including detailed daily ASX reporting. Appointing an external broker adds governance oversight and helps prevent conflicts of interest that could arise if company personnel directly controlled purchase timing and pricing.

Buyback Budget and Expected Completion Outlook

FleetPartners Group has authorized up to AUD 20 million in total buyback spending for the period from 24 March 2026 to 31 March 2027. As of 22 July 2026, cumulative expenditure stands at AUD 9,377,262.78, representing 46.9% of the budget. If current spending rates continue, the company may approach or exceed the authorized limit by the program’s end. The company has not specified any minimum repurchase targets, indicating the program is discretionary and may conclude at any level up to the AUD 20 million cap.

The remaining six months provide sufficient time to complete the buyback, accounting for market closures and liquidity fluctuations. Management retains the right to suspend or terminate the program at any time to respond to cash flow changes, strategic opportunities, or market conditions. Investors should note that full utilization of the authorized budget is not guaranteed and should factor this into valuation and scenario analyses.

Strategic Implications and Investor Considerations for the Buyback

The buyback program reflects FleetPartners management’s view that repurchasing shares at current market prices is a prudent use of capital. Share buybacks return cash to shareholders while reducing the share count, potentially increasing per-share metrics. Although the company did not disclose specific strategic goals or financial targets for the buyback, such programs generally indicate management’s confidence in share valuation and cash flow generation.

Investors should consider the buyback within the broader context of capital allocation, including working capital needs, debt servicing, acquisitions, and dividends. The consistent repurchase activity across diverse price points suggests a structural commitment rather than a price-dependent tactic. Evaluating whether the buyback aligns with individual investment theses and long-term return expectations is important for shareholders monitoring FleetPartners Group.