Slide 1: Full Year Results Presentation and Earnings Guidance
Full Year Results Presentation and Earnings Guidance 26 February 2026 Capral Limited (ASX:CAA) 15 Huntingwood Drive, Huntingwood NSW 2148 Approved and authorised by Capral’s Board of Directors
Slide 2: Agenda
Agenda 1 Business Overview 2 FY25 Highlights 3 FY25 Financials 4 Strategy 5 Outlook & Guidance 2
Slide 3: Our business at a glance
Our business at a glance Australia’s leading supplier of aluminium extrusion and rolled products. Manufacturer and Distributor of #1 Aluminium Extrusion Distributor of #1 Aluminium Sheet and Plate Supplier of #1 Aluminium Value Add Services 3
Slide 4: Our business at a glance
Our business at a glance 6 Extrusion Plants Key Markets 8 Extrusion Presses • Residential and Commercial 65,000t Annual extrusion capacity Building • Industrial (Transport, Marine, Infrastructure, Solar, Metal Fabrication) 9 Distribution Centres ~27% 14 Trade Centres Market Share ~$480 million 1000+
Slide 5: Full Year Highlights
Full Year Highlights “Earnings ahead of last year and in-line with guidance. • Lower volumes offset by higher LME and improved sales mix, delivered revenue growth and solid earnings • Industrial demand has softened • Residential demand subdued, expected recovery weighted to 2026 second half • Margin
Slide 6: FY25 Performance Highlights
FY25 Performance Highlights Full year results in-line with expectation Volume Revenue Underlying Underlying EBITDA1 EBITDA1,2 EBIT2 65,000 tonne $686m $59.6m $35.8m $61.9m 67,800 tonne FY24 $650m FY24 $58.2m FY24 $34.3m FY24 $58.3m FY24 4% 6% 2% 4% 6% NPAT³ EPS³ Net Cash Capital Mgmt Safety $35.6m $
Slide 7: Sales Volume, Channels and Mix
Sales Volume, Channels and Mix Diversified channels and end markets support resilience at cycle low Volume and Market mix • FY25 volume of 65,000t was 4% below FY24, reflecting subdued Sales seasonality - stronger second half residential and softer industrial demand Volume (six monthly) • Industrial
Slide 8: Residential commencements recovering
Residential commencements recovering Capral demand lags by two quarters 2023/2024 - Cycle low • Commencements 164k and 168k respectively Australian Residential Calendar Year Commencements¹ • Detached and low-rise 129k and 137k Detached Housing • Capral volumes impacted through 2024 and 2025 Multi-Re
Slide 9: Recent Capral Projects
Recent Capral Projects Residential Elizabeth Street Fern Project, WA Grays Point Apartments, Apartments, VIC NSW Fabricator: Busselton Aluminium Fabricator: Nivek Security Doors Windows Fabricator: Khazma Aluminium Fabrication Builder: Kane Constructions Builder: Dane Design Australia Builder: Taren
Slide 10: Recent Capral Projects
Recent Capral Projects Commercial Australian Christian Dunn Bay Southcamp Gosford Library, NSW College, WA Project, WA Fabricator: PCW Commercial Fabricator: LGA (WA) Fabricator: LGA (WA) Windows Builder: Devlyn Constructions Builder: Finespun Builder: North Construction Products Used: Capral AGS Pr
Slide 11: Industrial sector has softened
Industrial sector has softened Transport, infrastructure, manufacturing slowing - marine and cladding remain solid Transport Marine Solar Industrial Construction Manufacturing and Resellers • Sector has softened • Commercial ferry builds, • Imports impacting demand • Infrastructure investment Genera
Slide 12: Recent Capral Projects
Recent Capral Projects Industrial Freighter Group PLP Australia INCAT Lusty EMS Double Chassis Tipper Energy Connect project for Santa Monica Seaworld Express Transgrid Ferry Wendouree, VIC NSW, VIC and SA Derwent Park, Tasmania 12
Slide 13: Bottom of cycle earnings remain solid despite 4% lower volume
“Bottom of cycle earnings remain solid despite 4% lower volume and inflationary cost pressures.” TERTIUS CAMPBELL CFO 13
Slide 14: Metal cost has been higher and volatile in 2025
Metal cost has been higher and volatile in 2025 Aluminium Price $A 1. Regional premiums stable throughout 2025 (LME & Premiums) but have doubled in Q1 2026 vs Q4 2025 5.00 2. The international LME price is volatile and impacted by global supply factors and geopolitical trade issues 4.00 Average LME
Slide 15: Resilient earnings despite lower volumes
Resilient earnings despite lower volumes Underlying EBIT remains solid at bottom of cycle 1. Sales volume 4% lower, reflecting subdued residential and softer industrial FY25 FY24 demand Sales Volume (‘000 tonnes) 1 65.0 67.8 2. Revenue increased 6%, driven by higher average LME and improved product
Slide 16: Balance sheet strength underpins capital flexibility
Balance sheet strength underpins capital flexibility Dec25 Dec 24 NTA per share $12.72; $60.5m cash Current Assets $m $m Inventory 1 175.5 155.4 1. Inventory increased by $20.1m, primarily due to higher average Trade Receivables 2 90.7 91.8 metal prices ($12m) and increased goods in transit ($9m), C
Slide 17: Cash generation remains solid despite working capital build
Cash generation remains solid despite working capital build Cash Flow FY25 FY24 Operating cash flow remained strong at $43.8m despite higher working capital. $m $m EBITDA1 61.9 58.3 1. Working capital outflow of $11.6m reflects higher average 1 Working Capital (11.6) 1.2 metal prices, increased good
Slide 18: Returning surplus capital while preserving flexibility
Returning surplus capital while preserving flexibility 46% distribution delivered; buy-backs executed below NTA 1. Distributions • Capral targets distribution of 40-60% of underlying earnings per share¹ Share Buyback H1¹ Share Buyback H2¹ Final Dividend Special Dividend Interim Dividend • Maintainin
Slide 19: Strategy and Outlook
Strategy and Outlook “We remain focused on increasing return on invested capital, strengthening our competitive position, and growing our distribution footprint while navigating changing market conditions.” TONY DRAGICEVICH CEO & MANAGING DIRECTOR 19
Slide 20: Clearly Defined Strategy
Clearly Defined Strategy Build, Optimise and Grow • GROW for the future • Leverage our capabilities into new opportunities • OPTIMISE what we do • Develop new products and channels • Continually improve key customer to market service metrics BUILD on our strengths • Enhance presence in architectural
Slide 21: Improve productivity, grow in new markets and enhance our value to customers
Improve productivity, grow in new markets and enhance our value to customers Lift productivity and defend market share while positioning for recovery Manufacturing Distribution Sales and Marketing • Drive productivity and recovery • Capral’s new window and door range and • Ongoing technology investm
Slide 22: Anti-Dumping measures assist fair competition
Anti-Dumping measures assist fair competition Imports remain our largest competitor GLOBAL CONTEXT CHINA MALAYSIA OTHER • USA tariffs have no direct • Current measures extended • Current measures expire • Measures on Vietnam and impact for five years following during 2026 Malaysian exporters are und
Slide 23: ESG Framework
ESG Framework Sustainability embedded in strategy and operations 2025 Highlights Three Pillars of Sustainability • IMS enhancement: integration of hazardous chemicals management and safety observation improvements Environment Social Governance • Learning opportunities have been expanded to create a
Slide 24: Outlook and Guidance
Outlook and Guidance Market Conditions • Residential construction forecast1 to lift demand toward the second half of 2026 as commencements flow through • Industrial demand has softened from recent highs, particularly in infrastructure and transport, and is expected to remain broadly stable • LME2 ex
Slide 25: Questions & Appendix
Questions & Appendix Thank you for your time
Slide 26: Strategic National Footprint
Strategic National Footprint Industry diversification supports volume during housing downturn Capral has a national footprint with a presence in every state 25 Darwin and Extrusion plants near five mainland capital cities Cairns 1 5. Bremer Park Manufacturing Plant • Capacity 23k tonnes Townsville 2