New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>EBOS Group (EBO) reported a robust FY26 result, broadly in line with expectations and guidance across all key line items.</li><li>First-time FY27 guidance was also broadly in line with our NPAT estimate, and only marginally below at EBITDA.</li><li>With the lack of another EPS downgrade, we are hopeful this result has marked the end of EBO’s downgrade cycle and investor confidence can start to rebuild.</li></ul>

EBOS Group (EBO) reported a robust FY26 result, broadly in line with expectations and guidance across all key line items.First-time FY27 guidance was also broadly in line with our NPAT estimate, and only marginally below at EBITDA.With the lack of another EPS downgrade, we are hopeful this result has marked the end of EBO’s downgrade cycle and investor confidence can start to rebuild.

EBOS Group FY26 Result—A Clear Check-Up