Lindsay Australia Limited · ASX:LAU
Lindsay Australia — FY2026 Earnings Presentation
24 slides from Lindsay Australia's earnings presentation, Aug 24, 2026
Slide 1: FY26 Result Presentation – Lindsay Australia Limited
ASX: LAU 24 August 2026 ASX Announcement FY26 Result Presentation – Lindsay Australia Limited Attached is Lindsay Australia’s Results Presentation for the full year ended 30 June 2026. Authorised for release by: Release authorised by Lindsay Australia Limited Board of Directors For further informati
Slide 2: Investor Presentation FY26 Full Year Results
Investor Presentation FY26 Full Year Results
Slide 3: Disclaimer
2 Disclaimer This presentation contains certain non-IFRS financial measures of underlying earnings In particular, no representation or warranty, express or implied, is given as to the before interest, tax, depreciation and amortisation (underlying EBITDA), underlying accuracy, completeness or correc
Slide 4: Market & Strategy Update
MARKET & STRATEGY UPDATE y F : a? OS bee =
Slide 5: Market Leading Service Provider
Market Leading Service Provider 4 Network built over 70 years, diversified by services and geography SIZE, SCALE & INFRASTRUCTURE OUR ADDRESSABLE MARKETS Refrigerated transport Established $5.7bn market 12% share, #1 position Infrastructure in major cities and key Road $5bn #1 | Rail $0.4bn #1 | Tra
Slide 6: Positioned in a Growing Market
1 Estimated addressable national food task of approximately 14 to 15 million tonnes per annum. Represents combined Australian Positioned in a Growing Market production and supply across the food categories Lindsay's network services: horticulture (fresh fruit and vegetables), meat and poultry, seafo
Slide 7: Invested Through the Cycle, Positioned for the Turn
Invested Through the Cycle, Positioned for the Turn 6 Capital moved to where the returns were, rail then network, and is already deployed for the next phase ROAD OVERSUPPLY COVID DISTORTION S U P P L Y S H O C K AN D C AP T U R E S T R U C T U R AL C H AN G E S AN D S O F T E N I N G S U P P L Y Thi
Slide 8: SRT: Integrated, Delivering and Unlocking Growth
SRT: Integrated, Delivering and Unlocking Growth 7 Integration delivered, with commercial synergies and new market opportunities ahead SRT Integration Delivered NEW: First Scale Position in a $3bn Market Store density illustrative, based on ABS Australian Population Grid 2024 (CC BY 4.0). Market siz
Slide 9: FY26 Full Year Results: Segment Performance, Financial Highlights
FY26 FULL SEGMENT YEAR RESULTS PERFORMANCE FINANCIAL HIGHLIGHTS
Slide 10: Key Highlights: Earnings Growth as the National Network Expands
9 Key Highlights¹ Earnings Growth as the National Network Expands $1,072.7m $127.8m $60.4m $27.6m $22.9m Revenue Underlying2 EBITDA Underlying2 EBIT Underlying2 NPAT Reported NPAT +26.2% on PCP +25.6% on PCP +37.7% on PCP +27.1% on PCP +31.5% on PCP 7.6c 3.8c 13.9% 1.92x 10.9 Underlying2 EPS Full Ye
Slide 11: FY2026 Key Highlights
10 Notes FY2026 Key Highlights 1 Underlying figures exclude significant items that are non-recurring or items incurred outside of ordinary operations. Underlying EPS is presented on a post-AASB 16 basis, with prior periods restated from the previously reported pre-AASB 16 basis. 2 ROIC = Underlying
Slide 12: FY26 Divisional Highlights
11 FY26 Divisional Highlights FY26 Group Revenue Bridge ($’M) Divisional performance 1,200 149.7 25.3 8.7 1,072.7 1,000 Transport Rural Hunter 849.8 39.2 800 600 $762.9m $190.8m $118.9m 400 Revenue Revenue Revenue 200 +32.9% PCP +15.3% PCP +7.9% PCP - FY2025 Transport Transport Rural Hunter FY2026 C
Slide 13: Cash Flow
12 Cash Flow Underlying cash generation strengthening as tax unwinds Free Cash Flow (FCF) ($’M) Operating Cash Conversion1 140 140.0 100% 123.9 120 90% 120.0 (10.2) Commentary 80% 100 (10.7) 100.0 70% 8.5 60% 80 (20.0) 80.0 50% (12.0) 123.9 60 60.0 40% 103.1 110.0 96.7 30% 40 40.0 72.1 28.1 20% (51.
Slide 14: Capital Expenditure
Capital Expenditure 1 Capital investment comprises additions to property, plant and 13 equipment and right of use equipment assets. The major network upgrade is largely complete. Capital now targets growth, yield and replacement Capital Investment1 ROIC & Invested Capital 80.0 +$250m 30% 450 24.8% 7
Slide 15: Borrowings
14 Borrowings • Net leverage of 1.92x, within the Group's target range of 1.0x to 2.0x Growth Funded. Discipline Maintained. 2.50 • Down from 2.23x at the half year, reflecting $68.5m of debt drawn to fund the SRT Net Leverage Ratio1 acquisition and strong free cash generation through the second hal
Slide 16: Dividends
15 Dividends FY26 Final Dividend Dividends per Share 6.00 80% (cents) 5.00 70% 1.7c 1.9 60% 4.00 50% Final dividend per share 2.8 3.00 1.5 1.7 40% Fully franked 1.4 30% 2.00 3.0 20% 1.00 2.1 2.3 2.1 1.8 10% • Final dividend of 1.7c fully franked, taking the full year to 3.8c, in line - 0% FY22 FY23
Slide 17: How We Grow
How We Grow 16 A national network in place. Built to extract yield and drive growth Group revenue and invested capital ($m) Revenue Invested capital $400m 1073 Invested capital deployed 804 850 676 Network largely built, national coverage and young fleet 553 Rail investment complete for the medium t
Slide 18: Outlook
Outlook 17 Leveraging scale, driving returns FY27 PRIORITIES WHAT WE EXPECT IN FY27 Extracting yield Secondary freight begins to contribute Rollout from October 2026 and full implementation by July 2027; FY27 captures a partial year, Investment phase largely complete; focus on lifting EPS and moving
Slide 19: Appendix
APPENDIX
Slide 20: Lindsay Transport
19 Lindsay Transport Revenue Transport Revenue 900.0 20% ($’M) 18% Revenue of $762.9m, up 32.9%, on a full twelve months of SRT and organic growth 800.0 across core lanes 700.0 16% 14% 600.0 Tasmania now represents 19% of transport revenue, improving geographic balance 12% and reducing seasonality 5
Slide 21: Lindsay Transport
20 Lindsay Transport Road Revenue1 Road 700 27.0% ($’M) Road revenue of $632.2m including a full year of SRT; excluding SRT, revenue of 600 26.0% $387.1m was up 5.4% on share gains across core lanes and new customer wins 500 25.0% 400 24.0% Growth broad based across capital city and regional lanes a
Slide 22: Lindsay Rural
21 Lindsay Rural 250.0 10.0% Rural Revenue 9.0% Revenue 200.0 ($’M) 8.0% Revenue of $190.8m, up 15.3%, on broad based growth across cartons, fertilisers and nutrients and expansion in Southwest WA 150.0 7.0% 6.0% Continued growth delivered in a challenging market environment through acquisition and
Slide 23: WB Hunter
22 WB Hunter Hunter Revenue Revenue ($’M) 140.0 6.0% Revenue of $118.9m, up 7.9%, with pet and produce, fertiliser and carton sales all contributing positively 120.0 5.0% 100.0 4.0% Trading conditions across hardware and trade remained competitive through the 80.0 year 3.0% 60.0 2.0% 40.0 Nagambie a
Slide 24: Reconciliations
23 Reconciliations Underlying results Key finance metrics 2026 ($'000) EBITDA EBIT PBT NPAT Net Borrowings ($'000) 2026 2025 Statutory Result 123,908 54,462 33,557 22,872 Reported borrowings 135,562 113,912 Merger & acquisition costs 1,060 1,060 1,060 1,060 Lease liabilities 238,409 206,457 Software