Slide 1: Presentation of Half Year Results
11 February 2026 Company Announcements Office ASX Limited Level 27, 39 Martin Place Sydney NSW 2000 PRESENTATION OF HALF YEAR RESULTS SGH Ltd (ASX: SGH) attaches the Results Presentation for the six months ended 31 December 2025. This release has been authorised to be given to the ASX by the Board o
Slide 2: HY26 Results Presentation
HY26 Results Presentation Ryan Stokes, MD&CEO 11th February 2026
Slide 3: SGH Overview – Who We Are
SGH Overview – Who We Are ASX:SGH Australia Focused •$20bn market capitalisation •Focused on Australian •ASX listed, ASX100 & MSCI Industrials and energy •Leading diversified Aus’ •Market leading businesses operating business with scale •Founder-led, execution •Privileged assets and and results focu
Slide 4: SGH Overview – HY26 Result Highlights
SGH Overview – HY26 Result Highlights $1,107m 1% $844m 0% $518m 2% $1,084m 32% EBITDA EBIT NPAT Op Cash Flow *All numbers are presented on an underlying basis unless otherwise stated. HY26 SGH EBIT Composition ($m) 900 $23m, -3% -$17m, +6% $64m, -8% $844m 0% 800 $142m, -9% Corporate & Other 700 & Ot
Slide 5: SGH Overview – Key Outcomes
SGH Overview – Key Outcomes Robust earnings and margin growth HY26 Key Financials • Revenue of $5.4b, ~flat in variable market conditions $m HY26 HY25 % Change • EBIT margin of 15.6%, up 30bp on ongoing profitability Revenue 5,415 5,513 (2%) improvement at Boral and WesTrac Earnings before interest,
Slide 6: Safety and Sustainability Highlights
Safety and Sustainability Highlights Safety Rolling 12m LTIFR1 Rolling 12m TRIFR2 Dec 2025 Dec 2024 Dec 2025 Dec 2024 • LTIFR of 0.7 improved 36%, TRIFR of 2.7 improved 31% WesTrac 0.1 0.2 3.6 4.0 Boral 1.2 1.9 2.5 3.6 • Elevated focus on critical risk management through Coates 0.4 1.1 1.6 5.2 targe
Slide 7: WesTrac Result Highlights
WesTrac Result Highlights Margin uplift and services growth drive strong result WesTrac Key Results • Revenue of $3bn, -6% on expected normalisation of HY26 HY25 Change elevated capital sales in PCP Revenue ($m) $2,962 $3,155 -6% • EBIT of $348m flat, supported by higher services revenue EBITDA ($m)
Slide 8: WesTrac Markets and Operations
WesTrac Markets and Operations Customer demand WesTrac Growing & Ageing Equipment Population 55,000 20 • Already elevated first-half rebuild activity expected to 50,000 strengthen further in second-half 15 Population Average Age 45,000 • Services and parts consumption outlook supported by 10 40,000
Slide 9: Boral Result Highlights
Boral Result Highlights HY26 Financial Result Boral Key Results • Revenue of $1.9bn, up 7% on volume growth, improved HY26 HY25 Change go-to-market strategy, and value-led pricing traction Revenue ($m) $1,933 $1,811 +7% • Record first-half EBIT of $284m, up 10% on top-line EBITDA ($m) $403 $370 +9%
Slide 10: Boral Markets and Operations
Boral Markets and Operations Markets, volumes and pricing Boral External Sales Volumes • Concrete volumes +8%, Cement +7%, & Quarry +3%, led by 120 3% 8% 6% 7% recovering demand from multi-res and road construction 100 -14% • Strong customer activity in QLD and WA, flat in NSW, and 80 recovering in
Slide 11: Coates Result Highlights
Coates Result Highlights Recovering customer activity Coates Key Results • Revenue, EBIT, and TU improved sequentially (vs 2H FY25), HY26 HY25 Change driven by positive momentum in customer demand Revenue ($m) $520 $546 -5% • Revenue of $520m, contracted $26m (5%) on residual EBIT ($m) $142 $156 -9%
Slide 12: Coates Markets and Operations
Coates Markets and Operations Improving sales execution Coates Average Quote Size and Win Rate • Focus on sales execution has delivered uplift in quoting $20,000 Avg size of quote Win Rate 40% activity and win rates $15,000 30% • Average quote size up 16%, average win rate up 6.6pp $10,000 20% • Sal
Slide 13: Beach Energy (30%) Highlights
Beach Energy (30%) Highlights Advancing growth projects in core hubs Beach Key Results • Waitsia achieved first gas in December, peak production rate HY26 HY25 Change of 165 TJ/day to date, expected to ramp to 250 TJ/day in H2 Revenue ($m) $982 $990 -1% • Four LNG cargoes lifted during the half, gen
Slide 14: SGH Energy Highlights
SGH Energy Highlights Crux (15.5%) Crux Jacket Set Down • Backfill LNG project for Shell-operated Prelude FLNG, Browse Basin, offshore WA • Development advancing- substructure installation almost complete, pipelines laid, & top-side facilities ready for transit • SGH share of project investment $96m
Slide 15: Property & Other Highlights
Property & Other Highlights Property Ravenhall Logistics Precinct • Ravenhall Logistics Precinct (Deer Park) competitive tender process nearing completion • Potential development partners assessed on: – Demonstrated development capability – Depth of management team – Aligned view of value creation o
Slide 16: SGH Finance
SGH Finance Richard Richards, SGH CFO 11th February 2026
Slide 17: Financials – Profit and Loss
Financials – Profit and Loss $m HY26 HY25 Change % Revenue 5,414.7 5,512.8 (1.8)% Other income 38.6 37.1 4.0% Share of results from equity accounted investees 87.0 100.1 (13.1)% Revenue and other income 5,540.3 5,650.0 (1.9)% Expenses (excluding depreciation, amortisation and interest) (4,433.3) (4,
Slide 18: Financials – Significant Items
Financials – Significant Items $m HY26 HY25 Fair value adjustments arising from acquisition of Boral 7.1 6.0 Producing & development asset impairment reversal - 2.7 Property EBIT (1.7) 0.3 Transformation and restructure costs (5.8) - Remediation costs provided for non-current assets - (8.7) Impairme
Slide 19: Financials – Business Unit Earnings
Financials – Business Unit Earnings $m Total SGH WesTrac Boral Coates Energy Media Investments Corporate Revenue from continuing operations 5,415 2,962 1,933 520 - - - - Statutory EBIT 797 348 282 142 43 (1) - (17) Add: unfavourable significant items 53 - 9 - 21 23 - - Subtract: favourable significa
Slide 20: Financials – Cash Flow
Financials – Cash Flow $m HY26 HY25 Key Commentary Underlying EBIT 843.5 842.7 • Underlying operating cashflow of Add: depreciation and amortisation 263.5 255.4 $1.1bn up 32% Underlying EBITDA 1,107.0 1,098.1 • EBITDA cash conversion of 98%, up 23pp on higher conversion at WesTrac Operating cash flo
Slide 21: Financials – Balance Sheet
Financials – Balance Sheet $m HY26 FY25 Change % Trade and other receivables and contract assets 1,433.0 1,537.4 (6.8)% Inventories 1,994.6 2,248.3 (11.3)% Assets held for sale 14.7 7.7 90.9% Investments 1,073.6 1,088.7 (1.4)% Property, plant and equipment 3,853.0 3,767.5 2.3% Oil and gas assets 1,0
Slide 22: Financials – Capital Management
Financials – Capital Management Net Debt and Leverage SGH Adjusted Net Debt to EBITDA1 (Leverage) History 4.0 • Net debt of $4.0b, improved 4% 3.5 Boral 3.0 Acquisition • Leverage1 reduced 4% to 1.91x, reflecting strong OCF 2.5 2.0 • At 31 Dec, 70% of drawn debt was fixed, with an 1.5 average rate o
Slide 23: Priorities and Outlook
Priorities and Outlook Ryan Stokes AO, SGH MD & CEO 11th February 2026
Slide 24: SGH Priorities and Outlook
SGH Priorities and Outlook FY26 priorities • Disciplined execution of the SGH Way operating model to drive performance • Stronger sales execution to capture infrastructure & construction demand • Improved operational efficiency through innovation and technology initiatives • Pursue accretive organic
Slide 25: Disclaimer
Disclaimer Basis of preparation of slides Included in this presentation is data prepared by the management of SGH Ltd (“SGH”) and other associated entities and investments. This data is included for information purposes only and has not been subject to the same level of review by the company as the