General Capital Subsidiary General Finance Market Update

Issue 35 25 July 24

GENERAL FINANCE LIMITED
Quarterly report as at 30 June 2024


KEY RATIOS



Capital Ratio


30 June 2024


Our capital ratio calculated in accordance
with the 2010 Regulations*

22.68%

Minimum capital ratio required by our
Trust Deed if the issuer has a credit rating

8%


Minimum capital ratio that must be
included in the trust deed under reg 8(2) of
the 2010 Regulations* if the issuer has a
credit rating

8%


The capital ratio is a measure of the extent to which General Finance is able to absorb losses without becoming
insolvent. The lower the capital ratio, the fewer financial assets General Finance has to absorb unexpected losses
arising out of its business activities.




Related Party Exposures


30 June 2024


Our aggregate exposures to related
parties as calculated in accordance with
the 2010 Regulations*

1.99% of capital

Maximum limit on aggregate exposures to
related parties that we must not exceed
that is included in our Trust Deed

10% of capital

Maximum limit on aggregate exposures to
related parties that we must not exceed
that must be included in our Trust Deed
under reg 23(3)(b) of the 2010
Regulations*

15% of capital

Related party exposures are financial exposures that General Finance has to related parties. A related party is an
entity that is related to General Finance through common control or some other connection that may give the party
influence over General Finance (or General Finance over the related party).


* Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010

Issue 35 25 July 24




Liquidity

30 June 2024


Our liquidity calculated in accordance with
the quantitative liquidity requirements
included in our Trust Deed

5.00 times

The minimum liquidity requirements
required by our Trust Deed

A liquidity cover ratio of 1.25 times

Liquidity requirements help to ensure that General Finance has sufficient realisable assets on hand to pay its debts
as they become due in the ordinary course of business. Failure to comply with liquidity requirements may mean that
General Finance is unable to repay investors on time and may indicate other financial problems in its business.






SELECTED FINANCIAL INFORMATION

Quarter to
30 June 2024
Total Assets 162,422,654
Total Liabilities 142,668,002
Net Profit / (Loss) After Tax 883,239
Net Cash Inflow (Outflow) from Operating Activities -4,545,681
Cash and Cash Equivalents 2,415,533
Term Deposits
1
15,610,922
Capital (per 2010 Regulations) 19,392,341

1
New Zealand Registered Bank deposits with original term of greater than 3 months.

Issue 35 25 July 24

HOW THE RATIOS HAVE BEEN CALCULATED


CAPITAL RATIO

Position at 30 June 2024



Capital


Gross capital 19,754,652

Less deductions 362,311

Total capital 19,392,341



Risk

Risk Weighted
Exposures Exposure Weight Exposures

NZ Registered Bank Deposits 18,026,455 20% 3,605,291
Residential mortgages:

LVR 70% and under 123,795,954 35% 43,328,584
LVR over 70% and under 80% 4,563,361 50% 2,281,681
Second or subsequent ranking 108,972 150% 163,459
Other loans with qualifying security over
land and buildings:

LVR 70% and under 15,315,872 100% 15,315,872

Other assets 249,729 350% 874,051
Deductions from capital 362,311

-

Total credit risk weighted exposures (A)

65,568,938

Total assets (B) 162,422,654

Operational and Market Exposures (A+B)/2x0.175

19,949,264


Total Exposures

85,518,202

Capital Ratio

22.68%
(being Total Capital/Total Exposures)


1
Refer to Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010.

Issue 35 25 July 24

AGGREGATE EXPOSURE TO RELATED PARTIES

Loans and other on balance sheet exposures to related
parties (A) 385,512
Other related party exposures (B) Nil
Capital (C) 19,392,341
(A + B) / C 1.99%

*Related party exposures are calculated by dividing total related party exposures by Capital
(per 2010 Regulations).


LIQUIDITY

Liquidity (A)
18,026,455
3 month expected loan receivables (B)
17,948,547
3 month expected gross deposit redemptions (C)
7,201,905
(A + B) / C 5.00 times




*The Liquidity Cover Ratio is calculated by dividing Liquidity plus the 3 month expected loan
receivables, by the 3-month expected gross deposit redemptions.

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General Capital Limited
Level 8, General Capital House,
115 Queen Street, Auckland CBD
PO Box 1314, Shortland Street,
Auckland, New Zealand. 1140.
Phone +64 9 304 0145


General Capital (GEN:NZ) subsidiary General Finance update
General Capital Limited advises that its subsidiary General Finance Limited, a licensed
Non-bank Deposit Taker, has uploaded its quarterly unaudited report for the quarter
ended 30 June 2024 to the Disclose Register.
General Finance’s business has continued to grow with total assets of $162m, up by
4.5% from 31 March 2024 and a quarterly NPAT of $883k consistent with the previous
quarter.
Mr. Brent King, Managing Director, explained that this report is required as General
Finance Limited holds a Non-bank Deposit Taker licence and the reporting is a
requirement of the Financial Markets Conduct Act 2013.
“The result reinforces the strength and consistency of General Finance. We are
seeking to build further on this strong base.” said Mr King.
The information can be found at www.disclose-register.companiesoffice.govt.nz.

ENDS
This announcement was authorized by Brent King, Managing Director

For further information contact:
Brent King
Managing Director
General Capital Limited
+64 21 632 660
Brent.King@gencap.co.nz
25 July 2024