5% Growth Achieved in FY21 by ASX-Listed Financial Services Business

“Pioneer specialises in acquiring and servicing non-performing retail and commercial debt, which is a fundamental part of the financial services ecosystem. After safely navigating recent macroeconomic conditions, Pioneer is well-positioned to benefit from improving market conditions and continues to grow using free cash flows for PDP investments, with undrawn facilities available for “out of sight” opportunities.

Our strong risk and compliance framework enabled us to thrive in an environment of increasing regulation and scrutiny. Our growing performing arrangement portfolios and solid operational performance are assisting negotiations in refinancing our current facility at a more favourable price.“

Keith John, Co-founder, Pioneer Credit

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Executive Summary

Pioneer (“PNC”) is an ASX-listed financial services business based in Perth, Western Australia, specialising in acquiring and servicing non-performing retail and commercial debt portfolios.

PNC acquires impaired or non-performing debt portfolios (“Purchased Debt Portfolios” or “PDPs”) from various vendors, with the majority sourced from Australian banks, non-banks, and regional lenders. Through this approach, PNC sets itself apart from contingent debt collectors, particularly those who service impaired and typically younger debt on behalf of vendors without taking legal ownership of the impaired debt.

Four industry experts founded PNC in May 2009. It now employs over 350 FTEs, across Australian and Manila call centres, including corporate and legal staff.