Slide 1: Results for the year ended 31 May 2026
Pinpoint-Invest-Exit Results for the year ended 31 May 2026 Steve McQuillan, CEO Stephen King, CFO Austen Adams, COO
Slide 2: Highlights for the period
Highlights for the period ✓ Delivered on full year expectations ✓ Results continuing to improve at Hayward Tyler, with solid progress elsewhere ✓ Order book: continuing to build with excellent prospects ✓ Nuclear sector contracts continue to be won in the UK and USA. In S. Korea, $16m contracts won
Slide 3: Financial highlights
Financial highlights Group Revenue Gross Profit Margin Adjusted EBITDA £163.3m 32.8% £20.7m FY25: £156.4m FY25: 31.7% FY25: £16.7m Adjusted Diluted EPS Final Dividend* Net Debt** 31.3p 3.1p £11.8m FY25: 23.7p FY25: 3.0p 31 May 25: £12.3m Final Dividend* - Currently proposed Net Debt** - IFRS 16 leas
Slide 4: Our divisions and brands
Our divisions and brands Advanced Engineering Systems (AES) Medical and Industrial Imaging (MII) Acquired 2004 Acquired 2017 Acquired 2018 Acquired 2017 Acquired 2018 Acquired 2019 Acquired 2019 Acquired 2023 Acquired 2021 Acquired 2023 Revenue (£m) Adjusted EBITDA Revenue (£m) Adjusted EBITDA (£m)
Slide 5: Strategy
Strategy Pinpoint Invest Exit • Focus on targeting highly • People • Return value to shareholders regulated markets. • Facilities and equipment • Fund new acquisitions • Grow existing businesses • Technology and IP • Fund research and through bolt-on acquisitions • Routes to market development of ne
Slide 6: Divisional priorities - AES
Divisional priorities - AES Energy Commanding niche positions in attractive growth segments capitalising on the sector transition Molten Salt Pump Pump under repair (coal) Conventional Nuclear Pump Nuclear Hydrocarbons New Nuclear – New Build - Fusion – Life extension of Decommission New Build Life
Slide 7: New Nuclear Landscape
New Nuclear Landscape The new nuclear opportunity is driven by an unprecedented convergence of Big Tech energy demand, aggressive federal de-risking by the US government and a shift toward "economies of scale" production for SMRs OEM Players OEM Players Market demand drivers USA RoW Virtually guaran
Slide 8: Divisional priorities – AES Cont.
Divisional priorities – AES Cont. In other markets Defence Critical National HVAC heating Advanced Fibres Infrastructure and cooling Nuclear deterrent HS2 Large buildings Advanced materials Secure storage Rail tunnels Data Centres for AI Precision pumps Booth Hayward Tyler Booth Ormandy Slack and Pa
Slide 9: Joseph Oat IP Acquisition – $2.5m
Joseph Oat IP Acquisition – $2.5m Joseph Oat – New Jersey USA – Est 1788 – ceased manufacture Dec 2025 – owners retiring Significant legacy supplier across nuclear and conventional power plus other heavy process industries Large legacy Expands our portfolio of orphaned • Pressure Vessels & Tanks ins
Slide 10: Medical and Industrial Imaging (MII)
Medical and Industrial Imaging (MII) ADVANCED X-RAY TECHNOLOGY ADVANCED MAGNET TECHNOLOGY INDUSTRIAL MEDICAL SUPER CONDUCTING INSPECTION IMAGING MAGNETS NON-DESTRUCTIVE TESTING 3D X-RAY IMAGING MRI IMAGING QUANTUM COMPUTING/FUSION Low dose 3D X-ray using World leading QC and Compact 3T digital tomos
Slide 11: MII highlights
MII highlights ADAPTIX MAGNETICA Orthopaedic 3D X-ray Orthopaedic MRI • low dose 3D X-ray • New compact 3T system • extremity imaging at a fraction of • will weigh only 25% of a normal the radiation dose of traditional CT full size MRI system systems • significant installation benefits in • fewer ac
Slide 12: MII highlights (cont)
MII highlights (cont) SCIENTIFIC MAGNETICS ADAPTIX Quantum Computing NDT • Working at the leading edge of • First material contract signed the quantum computing(QC) in composite non-destructive revolution imaging • Over 20 superconducting magnets for QC applications manufactured • £10m pipeline for
Slide 13: MII operational milestones update
MII operational milestones update H2 FY26 H1 FY27 H2 FY27 Clinical 2 KOL sites Up to 4 further KOL sites installed CPT coding validation evidence Up to 6 case studies/white papers Validated capacity release model data Commercial 2 US resellers Trained Up to 3 further US resellers added and trained i
Slide 14: Financial Highlights
hs. Avingtrans Financial Highlights 14
Slide 15: Financial performance
Financial performance £m FY26 FY25 Revenue 163.3 156.4 Gross Profit 53.6 49.5 Gross Profit % 32.8% 31.7% Adjusted EBITDA 20.7 16.7 Adjusted EBITDA % 12.6% 10.7% Adjusted Profit before tax 12.5 8.6 Adjusted Profit after tax 10.6 8.0 Adjusted Diluted EPS (pence) 31.3 23.7 15
Slide 16: Divisional Results
Divisional Results AES MII Central FY26 AES MII Central FY25 £’m £’m £’m £’m £’m £’m £’m £’m Revenue: Original equipment 98.1 5.0 - 103.1 99.9 4.6 - 104.5 Aftermarket 59.5 0.7 - 60.2 51.6 0.3 - 51.9 Total Revenue 157.6 5.7 - 163.3 151.5 4.9 - 156.4 Operating profit/(loss) 15.1 (4.4) (1.4) 9.3 15.2 (
Slide 17: Balance Sheet
Balance Sheet FY26 FY25 £’m £’m Tangible fixed assets 26.2 27.9 Goodwill 27.8 27.8 Other intangibles 51.4 41.5 Deferred tax asset & pension surplus 5.7 5.1 Working capital 44.2 39.6 Provisions (3.6) (2.5) Tax liability (0.9) (0.4) Net debt (15.5) (16.9) Creditors > 1 year (1.9) (2.5) Deferred tax li
Slide 18: Movement in net debt (£’m)
Movement in net debt (£’m) Advanced Engineering Medical & Industrial Central Systems Imaging The Advanced Engineering Systems (“AES”) division had strong cash-generation in the year. AES’s free cash flow was £18.4m (FY25: £16.2m). 10.0 1.0 (6.6) 24.0 The £7.2m of Medical & Industrial Imaging capex i
Slide 19: Summary and Outlook
Summary and Outlook ✓ Delivered on full year expectations ✓ Order book: very strong order cover position and prospects pipeline ✓ Proliferating new nuclear prospects: contracts continue to be won in Europe and the USA ✓ HS2 project continues to build momentum, with the current order backlog being £3
Slide 20: Appendix
hs. Avingtrans Appendix 20
Slide 21: Our values
h Avingtrans v Integrity We mean what we say and will do, with re: ‘t for all Ri * Quality ht first time, on time. Our produc and comers Agility ot rapidly and cost effectiv jonse to changes in the e: viro
Slide 22: Blue chip client partnerships
Blue chip client partnerships 22
Slide 23: Diversified end markets
Diversified end markets Revenue split by region* (FY26) By industry (FY26) Other Pollution 1% reduction 3% Renewables 11% Industrial (incl. Other 20% transport & gov.) UK 38% 31% Oil & Gas 5% China 17% Nuclear 21% Conventional power 28% USA 25% Revenue split by region* - based on location of custome
Slide 24: Our locations and employees (15 September 2026)
Our locations and employees (15 September 2026) UK 675 China USA 199 India 90 18 Australia 43 24
Slide 25: M&A – successful exits
M&A – successful exits Brand Acquisitions Bought for £m1 Sold for £m1 JRT Ltd JenaTec Inc 4.0 14.5 JGWT GMBH Boneham & Turner (FY02 - FY09) (FY13) Moss Group Sigma Components B&D Patterns C&H Composites Eng Group 22.0 65.0 Aerotech Tubes PFW Farnborough (FY07 - FY16) (FY16) RMDG Rolls Royce Nuneaton
Slide 26: Environment, Social and Governance (ESG)
Environment, Social and Governance (ESG) • Our goal is to ensure sustainability is embedded into our pinpoint-invest-exit business strategy. Our approach to sustainability is aligned with the UN’s Sustainable Development Goals (SDGs). We consider the following to be our priorities: Development of ne
Slide 27: Sustainability: progress
Sustainability: progress Feb Jan May 2019 2020 2025 SCR Pump ISO 14001 May Carbon intensity Our Hayward Tyler Jan Oct 2022 Environmental May FY25 Group carbon business secures its 2021 2021 Carbon tracking Management 2023 intensity falls to 19.1 first order for SCR Acquisition of Green Factory All s
Slide 28: Sustainability: Renewables integration
Sustainability: Renewables integration Selective Catalytic Reduction (SCR) is an exhaust-cleaning step that removes nitrogen oxides from coal and gas power station flue gasses. Nitrogen dioxides are linked to several serious heart and lung conditions. To work effectively the SCR requires flue gases
Slide 29: Market capitalisation progression (£m)
Market capitalisation progression (£m) Purchased HTG & Ormandy Group assets 2017 43 19 Purchased Tecmag; Exited Whiteley Read 2018 67 CV-19 Purchased Booth & Energy Steel 2019 71 pandemic commences 2020 77 Purchased Magnetica (58%); Exited Peter Brotherhood 2021 137 Purchased Transkem & 12% of Adapt
Slide 30: Long-term share price growth outpacing the market
Long-term share price growth outpacing the market Long-term share price growth outpacing the market Avingtrans plc, up 196% FTSE AIM All-share, down 17% Aug-20 Aug-21 Aug-22 Aug-23 Aug-24 Aug-25 Aug-26 FTSE AIM ALL-Share AVG 30
Slide 31: Largest investors
Largest investors Ordinary shares of 5p each Number of % of total shares (000s) shares Funds managed by Unicorn Asset Management Ltd 1,953 5.2% Funds managed by Rathbones 1,892 5.1% Harwood Capital 1,820 4.9% Funds managed by TrinityBridge 1,754 4.7% Funds managed by Charles Stanley 1,746 4.7% Funds
Slide 32: Dividend growth (pence per share)
Dividend growth (pence per share) Suspended due to Covid 3.0 3.1 2.8 2.9 2.6 2.3 2.4 2.1 2.2 4.0 1.7 1.8 1.9 2.0 1.3 1.4 1.6 1.1 1.2 0 - FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Interim Full Year 32