General Capital subsidiary General Finance update

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 September 2025 to the Disclose Register.
Mr. Brent King, Managing Director, commented on the results, explaining that, as a
licensed Non-bank Deposit Taker, General Finance is required to issue this report under
the Financial Markets Conduct Act 2013.

Total assets reached $271.2 million, an increase of 14.5% on the 30 June 2025 quarter.
The company also reported a quarterly net profit after tax (NPAT) of $938,376 up from
$266,646 from the previous quarter. As at 30 September 2025 General Finance held $62
million in cash, cash equivalent and bank deposits. The capital ratio, being the total
capital divided by total exposures, was 15.27%. The minimum capital ratio required
under the Trust Deed is 8%.

Mr King said “We are pleased that the commencement of the Deposit Compensation
Scheme on 1 July 2025, which covers General Finance secured term deposits up to
$100k per depositor, has been extremely positive for General Finance resulting in a
significant increase in total assets.”

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
23 October 2025

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Issue 40 23 October 2025

GENERAL FINANCE LIMITED
Quarterly report as at 30 September 2025


KEY RATIOS



Capital Ratio


30 September 2025


Our capital ratio calculated in accordance
with the 2010 Regulations*

15.27%

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 September 2025


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

2.34% 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 40 23 October 2025

Liquidity

30 September 2025


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

5.15 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 Sep 2025
Total Assets 271,156,150
Total Liabilities 245,905,096
Net Profit / (Loss) After Tax 938,376
Net Cash Inflow (Outflow) from Operating Activities 12,439,954
Cash and Cash Equivalents 33,691,897
Term Deposits
1
28,318,121
Capital (per 2010 Regulations) 22,541,241

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

Issue 40 23 October 2025
HOW THE RATIOS HAVE BEEN CALCULATED

CAPITAL RATIO

Gross capital 25,251,055

Less deductions 2,709,813

Total capital 22,541,241



Risk

Risk Weighted
Exposures Exposure Weight Exposures

NZ Registered Bank Deposits 62,010,019 20% 12,402,004
Residential mortgages:

LVR 70% and under 163,667,169 35% 57,283,509
LVR over 70% and under 80% 15,042,930 50% 7,521,465
Other loans with qualifying security over land
and buildings:

LVR 70% and under 19,256,052 100% 19,256,052
Other loans

– where a financing statement has not been
registered and perfected under the Personal
Property Securities Act 1999
8,119,625 200% 16,239,249

Other assets 350,542 350% 1,226,898
Deductions from capital 2,709,813

-

Total credit risk weighted exposures (A)

113,929,177

Total assets (B) 271,156,150

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

33,694,966


Total Exposures

147,624,143

Capital Ratio

15.27%
(being Total Capital/Total Exposures)

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

Issue 40 23 October 2025

AGGREGATE EXPOSURE TO RELATED PARTIES

Loans and other on balance sheet exposures to related
parties (A)
526,872
Other related party exposures (B)
Nil
Capital (C)
22,541,241
(A + B) / C
2.34%

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


LIQUIDITY

Liquidity (A)
62,010,019

3 month expected loan receivables (B)
21,670,906

3 month expected gross deposit redemptions (C)
16,243,400

(A + B) / C
5.15 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.