Reece Limited · ASX:REH
Reece — Shareholder Meeting (November 2025)
23 slides from Reece's shareholder meeting presentation, Nov 21, 2025
Slide 1: 2025 Annual General Meeting Addresses
ASX Announcement 21 November 2025 2025 Annual General Meeting Addresses Attached for release are the 2025 AGM Addresses including CEO & Chair, Group President & Managing Director, incoming Chair of the Remuneration Committee and Chair of the Audit and Risk Committee. For further information contact:
Slide 2: CEO and Chair Address – Peter Wilson
CEO and Chair Address – Peter Wilson Good Morning. I’m pleased to deliver my first address since moving into the Chair and CEO role a year ago. Many of you will be familiar with Reece’s history, from humble beginnings in 1920 as a hardware business. In 1969, my family became the majority shareholder
Slide 3: Chair address continued and Group President & MD Address
the role of Chair at BHP. This provided us with the opportunity to consider the skills and experience we need from our Independent Directors to guide the business though its next phase. Since then, we’ve welcomed new Directors Angela Mentis and Gavin Street to the Board and recently announced Jacq C
Slide 4: US rebrand, strategic priorities and Q1 FY26 outlook
significant efforts into the US rebrand project, driving momentum and consistency across our growing network under the Reece banner. In addition to network expansion, we continue to make solid progress against our three strategic priorities in FY25. The team has shown resilience through a challengin
Slide 5: Remuneration framework address
As a founder-led business with a different ownership structure and a significant footprint in North America, our remuneration framework is designed to support long-term growth and leadership continuity across diverse markets. We are committed to attracting and retaining high-calibre talent in a comp
Slide 6: Reece Group AGM 2025
Reece Group AGM 2025
Slide 7: Disclaimer
Disclaimer The material in this presentation has been prepared by Reece Limited (ABN 49 004 Non-IFRS Financial Information 313 133) (“Reece") (ASX:REH) and is general background information about Reece's activities current as at the date of this presentation, 21 November 2025. The Reece uses certain
Slide 8: Chair & CEO Address
Chair & CEO Address Peter Wilson 3 Reece. Works for you.
Slide 9: A long-term growth story
A long-term growth story 900+ 9k+ team members branches $9b FY25 revenue 3 $901m geographies 1954 FY25 EBITDA ASX listed Delivering customised service for small to commercial trade. 4 Reece. Works for you.
Slide 10: Our Blueprint
Our Blueprint Inspired Live the Embrace Execute Deliver by our Reece our 2030 Strategic Customer Purpose Way Vision Priorities Promise 5 Reece. Works for you.
Slide 11: FY25 overview
FY25 overview Strategy unchanged – focused on long-term growth Sales revenue EBITDA $9.0b $901m down 1% vs pcp down 11% vs pcp Well capitalised – enabling investment to build a stronger business EBIT FY25 total dividend $548m 18.36c down 20% vs pcp per share, fully franked Large markets – with attra
Slide 12: Capital management priorities
Capital management priorities Enable long-term profitable growth 01. 02. 03. Invest in the Strong balance Returns to business sheet shareholders Organic Pay down debt; Dividends, investments retain flexibility share buyback and M&A for growth 7 Reece. Works for you.
Slide 13: Off-market share buyback
Off-market share buyback Successful buy back of $365 million (4.3% of ISC) Returned excess capital to shareholders, maintained strong balance sheet Flexibility to fund future growth retained 8 Reece. Works for you.
Slide 14: Our Board
Our Board Chair & CEO Non-Executive Director Non-Executive Director Peter Wilson Gavin Street Jacqueline Chow Commenced 1 Nov Group President & Managing Director Non-Executive Director Non-Executive Director Non-Executive Director Sasha Nikolic Bruce C. Wilson Angela Mentis Andrew Wilson 9 Reece. Wo
Slide 15: Group President & Managing Director Address
Group President & Managing Director Address Sasha Nikolic 10 Reece. Works for you.
Slide 16: FY25 financial summary
FY25 financial summary Sales revenue EBITDA EBIT NPAT $9.0b $901m $548m $317m down 1% vs pcp down 11% vs pcp down 20% vs pcp down 24% vs pcp ANZ sales revenue US sales revenue (USD) Capex / Sales ROC $3.9b $3.3b* 2.9% 11.8% up 1% vs pcp down 5% vs pcp up 4bps vs pcp down 365bps vs pcp *US sales reve
Slide 17: An established and growing network
An established and growing network 676 branches +15 +24 267 branches Ongoing investment in mature Ongoing investment to scale network, infill and upgrades and upgrade the network 12 Reece. Works for you.
Slide 18: 2030 Vision
• Customised service Operational • Executing the fundamentals of our business excellence 2030 • Leadership training and development Vision Accelerating innovation • • • Extending our digital capabilities Enabling the customer experience Product and range development Our trade's most valuable partner
Slide 19: Trading Update & Outlook
Trading Update & Outlook 14 Reece. Works for you.
Slide 20: Q1 FY26 trading update
Q1 FY26 trading update • Group sales up 8% driven by network expansion Sales revenue ($M) in FY25 (up 6% on constant currency basis) 136 2,368 39 2,407 • Like for like group sales up 2% reflecting low 2,232 single-digit growth in ANZ and low single-digit +6% +8% decline in the US • EBITDA declined 8
Slide 21: Works for you.
Works for you.
Slide 22: Appendix
Appendix Reconciliation from Statutory EBIT to EBITDA Reconciliation from statutory EBIT to Adjusted EBIT 30 June (A$m) FY25 FY24 FY23 FY22 FY21 30 June (A$m) FY25 FY24 FY23 FY22 FY21 EBIT (statutory) 548 681 654 578 493 EBIT (statutory) 548 681 654 578 493 Add back/deduct: Add back/deduct: Deprecia
Slide 23: Group definitions and non-IFRS measures
Appendix Group definitions and non-IFRS measures Adjusted EBITDA Adjusted EBITDA and Adjusted EBIT are non-IFRS financial / Adjusted EBIT measures used by Reece for internal management reporting purposes to assess underlying performance. Return on capital Adjusted EBIT divided by shareholders equity