Slide 1: 2025 Full year results
2025 Full year results 4 March 2026 GENERAL - Access limited to Weir Personnel or by NDA
Slide 2: Forward looking statements
Forward looking statements This information includes ‘forward-looking statements’. All statements other than statements of historical fact included in this presentation, including, without limitation, those regarding The Weir Group PLC’s (“the Group”) financial position, business strategy, plans (in
Slide 3: Agenda
Agenda 2025 FY Introduction 1 Jon Stanton 2 Financial results Brian Puffer 2025 FY review Q&A 3 and 2026 outlook 4 Jon Stanton and Jon Stanton Brian Puffer 3 Full Year Results | 2025
Slide 4: Introduction – Jon Stanton
Jon Stanton Chief Executive Officer Introduction 4 Full Year Results | 2025
Slide 5: Delivering on our equity case
Delivering on our Focused mining • Trusted brands equity case technology leader • Leading technologies with unique capabilities • Differentiated and high barriers to entry customer service Multi-decade market • Increasing ore opportunity driven by production/capex demand for critical metals and • Gr
Slide 6: Excellent operational execution in 2025
Excellent operational execution in 2025 Growth Margins Returns Resilience Sustainability Converting Providing Delivering for Outgrowing Expanding earnings into resilience and people and our markets our margins cash and returns predictability planet +6% +150bps 92% +15% 31% YoY change Operating Cash
Slide 7: Significant progress on advancing our growth strategy
Significant progress on advancing our growth strategy Acquisitions to enhance Strategic partnerships Organic initiatives our digital capabilities to accelerate our extending addressable and expand our technology agenda and market opportunities geographic presence access new markets Micromine Vertica
Slide 8: 2025 FY financial results – Brian Puffer
Brian Puffer Chief Financial Officer 2025 FY financial results 8 Full Year Results | 2025
Slide 9: Excellent execution with strong financial outcomes
Excellent execution with strong financial outcomes Orders1 £2.6bn +7% Revenue1 £2.6bn +6% Operating profit1,2 £518m +15% Operating margin1,2 20.2% +150bps Profit before tax2,5 £447m +4% Free operating cash conversion3 92% Performance Statutory profit EPS2 Net debt: ROCE5 Full year Excellence savings
Slide 10: Minerals: positive underlying demand and strong execution
Minerals: positive underlying demand and strong execution Supportive mining market conditions Orders1 £m OE AM £1,879m +5% • OE orders stable, +7% excluding YoY impact of large orders 2,000 • AM orders +7% YoY, installed base expansion and contribution 1,000 74% 75% from Townley 26% 25% • Book-to-bi
Slide 11: ESCO: strong GET demand and Software Solutions growth
ESCO: strong GET demand and Software Solutions growth Positive core product demand Orders1 £m • High levels of demand for core GET products £719m +11% 700 • Contribution from Micromine of £44m 350 649 719 • Book-to-bill of 1.01 Like-for-like growth3 +4% 0 2024 2025 GET and Software Solutions growth
Slide 12: Micromine business performance metrics
Micromine business performance metrics Customer Recurring Annual recurring retention1 revenue1 revenue (ARR)1 94% 88% 24% Low churn High percentage Annual growth from new of total revenue and existing customers Best in class metrics supporting predictable and resilient growth 12 Full Year Results |
Slide 13: Group operating margin expansion: +150bps
Group operating margin1 expansion: +150bps +140bps +30bps -30bps Translational FX -10bps +10bps Lean processes Capacity 20.2% 18.8% 18.7% optimisation Functional transformation 17.4% Operational 16.0% efficiencies FY 2022 FY 2023 FY 2024 FY 2024 Minerals Performance R&D FY 2025 Reported Restated1 Ex
Slide 14: Adjusting items
Adjusting items Total adjusting items charge of £73m £m 2025 2024 Exceptional items Performance Excellence (45) (36) £47m exceptional charge Intangibles impairment - (19) • Performance Excellence exceptional costs of £45m Deconsolidation of US subsidiary 20 - • Costs relate to workstreams across all
Slide 15: Cash generation and returns
Cash generation and returns Operating cash flow £566m, -4% £m 2025 2024 Profit growth offset by working capital cash outflow Operating cash flow pre working capital 623 583 Working capital efficiency; 22.4% of sales Working capital cash flows (57) 8 Supporting manufacturing platform optimisation and
Slide 16: Cash flow and liquidity
Cash flow and liquidity Free cash inflow of £267m Free cash flow £m 2025 2024 Free operating cash flow 475 484 • Higher interest following acquisition activity and refinancing Net interest (62) (43) • Increased tax payments due to higher profits and country mix Tax (132) (111) • Net debt increased b
Slide 17: 2026 full year financial guidance
2026 full year financial guidance Corporate costs broadly in line with 2025 Capex and leases to depreciation 1.3x Purchase of shares for employee Free operating cash conversion 90-100% share plans £13m (2025: £10m) Exceptional cash outflow of £25-30m Net interest costs of c.£90m arising from for Per
Slide 18: Strong, clean balance sheet positioned for growth
Strong, clean balance sheet positioned for growth 01 02 03 Legacy balance Performance Other adjusting sheet exposures Excellence costs items US asbestos provision has been Total programme costs of £113m Acquisition and integration deconsolidated. Remaining fully recognised and below costs to be incu
Slide 19: Key financial messages
Key financial messages 01 03 Net interest costs of c.£90m arising from Strong demand and operational execution refinancing and acquisition activity Growth and margin contribution from Capex and leases to depreciation 1.3x acquisitions, delivering in line with expectations Operating margin1,2 expansi
Slide 20: 2025 FY review and 2026 outlook
Jon Stanton Chief Executive Officer 2025 FY review and 2026 outlook 20 Full Year Results | 2025
Slide 21: We are Weir strategy in action
We are Weir strategy in action Be recognised as a thought leader in the Achieve and sustain a zero harm workplace Cu e st transformation of mining pl om Deliver smart, efficient and sustainable o Nurture our inclusive ‘One Weir’ culture Purpose Pe outcomes for customers er We are here to enable the
Slide 22: Significant progress on advancing our growth strategy
Significant progress on advancing our growth strategy Acquisitions to enhance Investments and strategic Initiatives our digital capabilities partnerships to expand our extending addressable geographic presence market opportunities Townley Micromine ENDURON® VSM ESEL Chile Fast2Mine CiDRA P29 separat
Slide 23: Creating a global leader in software solutions
Creating a global leader in software solutions 23 Full Year Results | 2025
Slide 24: Expanding our geographic presence
Expanding our geographic presence Geographies North America South America EMEA 1 2 3 Attractive growth regions with high reserves and Townley ESEL Olayan improving permitting Enhanced North Accelerates ESCO Immediate access to Consistent with AM American and phosphate go-direct strategy local networ
Slide 25: Strengthening our future flowsheet solution
Strengthening our future flowsheet solution Strategic investments to fill mission critical product gaps Comminution Separation ENDURON® Partnerships • P29 separation technology Vertical stirred mill • Coarse particle floatation • >40% grinding throughput • Alternative to ball mills • Modular applica
Slide 26: Leading by example in the sustainable and efficient delivery of critical resources
Leading by example in the sustainable and efficient delivery of critical resources ‘Untapped’ ‘Mined Shift’ Thought industry report podcast leadership Opportunity to reduce water 1.3m listens consumption by c.78% 31% reduction Emission against 2019 baseline 446,239 tCO2e reductions Absolute scope Av
Slide 27: Creating a safe and purpose driven workplace
Creating a safe and purpose driven e Cu o pl st om Pe er workplace for our people P er y og fo m ol hn r an ce T ec Safety 0.52 Total incident rate (TIR)1 Employee 49 87% engagement eNPS2,3 score Micromine and retention Top 10% of benchmark retention rate External Top 10 Tier 1 recognition Britain’s
Slide 28: People success story: accelerating growth in Software Solutions
People success story: accelerating growth in Software Solutions Putting the ‘One Weir’ culture into practice Challenge Outcomes Facilitating impactful interactions to introduce Customer: Market leading optionality customers of our hardware businesses to for solutions to move less rock, use Micromine
Slide 29: Solving the biggest smart, efficient and sustainability challenges
Solving the biggest smart, efficient and Cu o ple st om Pe er sustainability challenges for our customers P er y og fo m ol an hn r ce T ec Sustainable c.70% dry £40m mining content solutions Codelco Talabre tailings transportation order Delivering our Stope optimisation 2x digital vision Launched d
Slide 30: Customer success story: ESCO Production Master
Customer success story: ESCO® Production Master® Applying best-in-class technology to solve customers’ challenges in Australia Challenge Solution Outcomes Customer challenges Working closely with customers Customer: Increased capacity include irregular and and leveraging proven ESCO® by 10% with ROI
Slide 31: Protecting our core technology through investments in innovation
Protecting our core technology through e Cu o pl st om Pe er investments in innovation and engineering P er y og fo m ol hn r an ce T ec Processing equipment NEXT intelligent Extraction equipment solutions Next generation mill circuit ESCO® Nexsys® pump launched Additional sites onboarded ESCO® Vert
Slide 32: Technology success story: WARMAN slurry pumps
Technology success story: WARMAN® slurry pumps Brownfield expansion order featuring largest slurry pump in North America Challenge Solution Outcomes Large extension project Order received for WARMAN® Customer: Increased for Teck Highland Valley, MCR® 760 pump – largest throughput, lower cost of a ma
Slide 33: Performance Excellence delivering strongly
e Cu pl st Performance Excellence delivering strongly o om Pe er P er y og fo m ol hn r an ce T ec Optimising service centres and facilities Performance Excellence – CAP ACITY £90m • Site rationalisations nearing completion O PT IMISATIO N cumulative phasing of savings • Production transfers in APAC
Slide 34: Market conditions: Strong activity levels
Market conditions: Strong activity levels Commodity prices1 CAPEX drivers (2025-2026 YTD) (100=base) 220 Continued focus on brownfield optimisation and 200 + debottlenecking 180 160 140 Commodity price strength and supply deficits 120 encouraging more investment 100 80 January April July October Jan
Slide 35: 2026 Outlook: another year of growth and margin expansion
2026 Outlook: another year of growth and margin expansion Demand strongly Outlook underpinned for 2026 Original equipment We expect another year of further growth + Strong opening order book + and margin expansion Global mining capex expected to grow Growth in constant currency revenue and operating
Slide 36: Today's key messages
Today’s key messages 01 02 03 04 05 Excellent Significant Performance Growth and Doing the operational progress on Excellence margin right thing for execution advancing our savings expansion our people growth target expected in and the strategy upgraded 2026 planet Continuing to deliver strongly as
Slide 37: Delivering on our equity case
Delivering on our Focused mining • Trusted brands equity case technology leader • Leading technologies with unique capabilities • Differentiated and high barriers to entry customer service Multi-decade market • Increasing ore opportunity driven by production/capex demand for critical metals and • Gr
Slide 38: Q&A
Q&A 38 Full Year Results | 2025
Slide 39: Appendix
Appendix 39 Full Year Results | 2025
Slide 40: Continuing operations
Continuing operations £m H1 2025 H2 2025 2025 20241 Growth1 OE orders 261 251 512 512 0% AM orders 1,043 1,043 2,086 1,927 8% Total orders 1,304 1,294 2,598 2,439 7% OE revenue 210 295 505 496 2% AM revenue 985 1,075 2,060 1,915 8% Total revenue 1,195 1,370 2,565 2,411 6% Book-to-bill 1.09 0.94 1.01
Slide 41: Minerals
Minerals £m H1 2025 H2 2025 2025 20241 Growth1 OE orders 237 225 462 461 0% AM orders 716 701 1,417 1,329 7% Total orders 953 926 1,879 1,790 5% OE revenue 195 264 459 437 5% AM revenue 670 727 1,397 1,307 7% Total revenue 865 991 1,856 1,744 6% Book-to-bill 1.10 0.93 1.01 1.03 Adjusted operating pr
Slide 42: ESCO
ESCO £m H1 2025 H2 2025 2025 20241 Growth1 OE orders 24 26 50 51 -2% AM orders 327 342 669 598 12% Total orders 351 368 719 649 11% OE revenue 15 31 46 59 -22% AM revenue 315 348 663 608 9% Total revenue 330 379 709 667 6% Book-to-bill 1.06 0.97 1.01 0.97 Adjusted operating profit2 68 84 152 125 22%
Slide 43: Quarterly order trends – continuing operations
Quarterly order trends – continuing operations Reported organic growth 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY Original Equipment -9% -15% 19% -7% -3% 6% 16% -24% 9% -1% Aftermarket 4% -1% 3% 15% 5% 9% 10% 3% 1% 5% Minerals 0% -5% 8% 9% 3% 8% 11% -6% 2% 3% Ori
Slide 44: Quarterly order trends – continuing operations
Quarterly order trends – continuing operations Quarterly reported orders £m 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY1 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY Original Equipment 118 107 148 109 480 122 115 109 116 462 Aftermarket 328 353 331 377 1,380 349 367 327 374 1,417 Minerals 446 460 479 486 1,8
Slide 45: Orders by end market and geography – continuing operations
Orders by end market and geography – continuing operations Orders by end market (£m) Minerals ESCO 2025 Total 2024 Total Mining 1,424 523 1,947 1,948 Infrastructure 58 173 231 207 General Industrial 309 23 332 299 Other 88 - 88 69 Continuing Operations 1,879 719 2,598 2,523 Orders by geography (£m)
Slide 46: 2025 Order Bridges – as reported
2025 Order Bridges – as reported H1 H2 Full Year OE AM Total OE AM Total OE AM Total Minerals orders (£m) 2024 – as reported 225 682 907 255 698 953 480 1,380 1,860 Organic 9% 10% 10% -10% 1% -2% -1% 5% 3% Structure 0% 0% 0% 1% 4% 3% 1% 2% 2% Currency -4% -5% -5% -3% -5% -4% -3% -4% -4% Total 5% 5%
Slide 47: Working capital
Working capital Continuing Operations Continuing Operations Inventory Trade receivables Inventory Turns Debtor Days 800 3 500 70 2.7 61 60 2.5 2.5 59 55 700 50 400 £m £m 2.0 2 40 600 1.5 30 1 300 20 500 0.5 10 400 0 200 0 2023 2024 2025 2023 2024 2025 Continuing Operations Working capital Trade paya
Slide 48: Foreign exchange by division
Foreign exchange by division 2024 Revenue £m 2024 Adjusted operating profit1 £m Division At 2024 rates FX At 2025 rates At 2024 rates FX At 2025 rates Minerals 1,818 (73) 1,745 383 (18) 365 ESCO 688 (22) 666 129 (4) 125 Corporate costs - - - (40) - (40) Continuing operations 2,506 (95) 2,411 472 (22
Slide 49: Foreign exchange tailwind in 2026 at current rates
Foreign exchange tailwind in 2026 at current rates FY 2025 Revenue £m FY 2025 Adjusted operating profit1 £m Currency At 2025 rates FX At 2026 rates2 At 2025 rates FX At 2026 rates2 US Dollar 724 (21) 703 191 (5) 186 Australian Dollar 466 27 493 106 6 112 Canadian Dollar 403 (3) 400 101 - 101 Euro 17
Slide 50: Exchange rates
Exchange rates The principal exchange rates applied in the preparation of the financial statements were as follows: 2024 2025 2024 2025 Currency Average FX rate Average FX rate Balance sheet rate Balance sheet rate US Dollar 1.28 1.32 1.25 1.35 Australian Dollar 1.94 2.04 2.02 2.02 Canadian Dollar 1
Slide 51: Mining technology for a sustainable future
Mining technology for a sustainable future