Slide 1: Good performance in FY26; confidence in delivering FY25-FY27 Strategic Plan
Good performance in FY26; confidence in delivering FY25-FY27 Strategic Plan; foundations in place for FY28+ Results presentation for the year ended 31 March 2026 The future of high-performing places
Slide 2: FY26 highlights
FY26 highlights 2 Strong Growth Resilience High Visibility Cash Generative Double-digit growth Operating margin Record order book, Good FCF and low in revenue and op. up, despite material majority delivered in leverage underpin profit for third cost headwinds next 3 years, and £100m of share consecu
Slide 3: FY26 highlights in charts
3 FY26 highlights in charts Financial performance Growth indicators FCF & capital deployment Revenue: £5.6bn Wins/renewals2: £6.3bn Free cash flow: £162m +11% -16% +13% 200 13% 14% 35% 6 CAGR CAGR CAGR 8 5 YoY YoY 4 YoY 100 4 (£bn) (£bn) (£m) 3 0 0 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 F
Slide 4: Financial update
4 Financial update Simon Kirkpatrick Chief Financial Officer
Slide 5: FY27 Financial Targets
5 Durable financial model: compounding earnings, value accretion, increased shareholder returns 2023 Capital Markets Event (CME) High single digit revenue growth Growth Profitability Cash generation (CME baseline: £4.4bn) Revenue: £5.6bn Op. profit1: £264.1m Free cash flow: £162m 6.0 Operating profi
Slide 6: Headlines
6 Headlines Double digit revenue and profit growth underpin good free cashflow generation and increased dividend • Revenue growth of 10.5% includes good organic £m FY26 FY25 % change growth of 5.3% Revenue 5,619 5,083 +10.5 • 10 bps margin improvement despite headwinds (NIC & inflation impact, and c
Slide 7: Revenue growth drivers
7 Revenue growth drivers Good organic growth supplemented by acquisitions 265 5,619 £m 151 (59) 5.2% (1.2%) 125 3.0% Of which 54 2.5% Marlowe: £208m 5,083 1.0% Revenue Organic growth +5.3% growth: +10.5% FY25 Core FM Projects Pricing Completed Acquisitions FY26 'surge' work
Slide 8: Operating profit
8 Operating profit1 12.8% profit growth despite £37m of profit headwinds £m FY26 profit 10.4 (11.7) margin: 4.7% FY25 profit 25.1 (7.1) margin: 4.6% (18.6) 12.2 7.0 264.1 12.7 234.1 Of which Profit headwinds (£37.4m) Marlowe: £9.5m Profit Total Marlowe: £16.5m growth: +12.8% Strategic profit growth
Slide 9: Cost inflation and NIC increases
9 Cost inflation and NIC increases Inflation and NIC increases have been tightly managed in line with guidance FY26 • Net P&L impact from cost inflation of £6.9m, reflecting 94% pricing pass through on Inflation NIC FY26 contracts Cost increase (£121.5m) (£48.5m) (£170.0m) • Net P&L impact from NIC
Slide 10: Business Services
10 Business Services FY26 revenue growth of 17.6% combined with resilient profit performance £m FY26 FY25 % change • Security: Organic growth from projects, new wins, and pricing, partially offset by headwind Security 1,077 990 +8.8 from completion of ‘surge’ work. Hygiene & Landscapes 564 510 +10.6
Slide 11: Technical Services
11 Technical Services FY26 revenue growth of 3.5%, significant improvement in profit and margins £m FY26 FY25 % change • Engineering: good growth from wins and Engineering pricing offset loss of one notable contract 1,414 1,395 +1.4 and telecoms contract exits Defence 606 556 +9.0 • Defence: growth
Slide 12: Operating profit
12 Operating profit1 12.8% profit improvement and 10 bps margin improvement • Group profit improvement of 12.8% and £m FY26 FY25 % change margin of 10bps • Corporate Centre costs 6.3% higher, Business Services 187.1 180.4 +3.7 reflecting inflation, higher NICs and investments in sales and technology
Slide 13: Cash flow
13 Cash flow Good free cash flow generation, significantly ahead of our guidance • Good profit generation drives £162.1m of £m FY26 FY25 FCF Operating profit before Other items 264.1 234.1 • Cash Other items relates mainly to costs Add back: depreciation and amortisation 95.9 76.8 of MEI savings, an
Slide 14: Balance sheet
14 Balance sheet Strong and stable balance sheet underpins ongoing shareholder returns, and infill M&A • Increase in net debt due to capital deployment £m FY26 FY25 actions undertaken Closing net debt (450) (199) • Average leverage (1.2x) within the target range of 0.75-1.5x Average daily net debt (
Slide 15: Capital deployment policy
15 Capital deployment policy Sustainable free cash flow generation continues to underpin proactive investments and returns to shareholders Uses of capital FY26 FY27 Growing capital deployments (£m) 450 £228m Marlowe cash Infill M&A likely to be 414 01 M&A consideration; £15m modest as we deliver inf
Slide 16: Summary & Guidance
16 Summary & Good FY26 performance provides momentum in final year of our 3YP Guidance FY26 Performance 2023 Capital Markets Event (CME) High single digit revenue growth Double digit revenue and profit growth with both divisions showing good momentum (CME baseline: £4.4bn) Improved margins (4.7%), r
Slide 17: Strategic update
17 Strategic update Phil Bentley Chief Executive Officer
Slide 18: ‘Facilities Transformation’ Strategic Plan targeted three pillars of growth…
18 ‘Facilities Transformation’ Strategic Plan targeted three pillars of growth… Meeting evolving customer needs through Facilities Management, Transformation and now Compliance £1.2bn CME 3-year revenue growth target III. Total Fire & Security Total Managed Water Environmental Services ‘Facilities M
Slide 19: …underpinned by favourable macro trends
19 …underpinned by favourable macro trends Private sector as first line of security UK Water Infrastructure Investment £8.8bn UK security market 01 10 £104bn AMP8 investment (2025-2030), with 3% annual growth plus AMP9 (2030-2035) Rising business crime Building legislation £5.5bn spent on crime prev
Slide 20: Our high-quality £31.7bn bidding pipeline across growth sectors
20 Our high-quality £31.7bn (+34% yoy) bidding pipeline across growth sectors … £1.7bn of pipeline in ‘best and final offer’ stage Pipeline by stage Pipeline by opportunity type Selected pipeline sectors £0.6bn £15.8bn in FY23 IMMIGRATION £8.6bn & JUSTICE FY23 DEFENCE £5.0bn SECTOR Increase Pipeline
Slide 21: …feeds a growing order book
21 …feeds a growing order book (supporting double-digit revenue growth) We have high visibility over the near-term (1-3 years) order book Pipeline (TCV £bn) 40 Order book (TCV £bn) 20 Revenue (£bn) 6 5.6 >30% 31.7 16.3 Win Rate 30 15 4 20 10 10 5 2 84% 0 0 0 Retention Rate FY23 FY24 FY25 FY26 FY23 F
Slide 22: Margin expansion via mix, synergies and margin enhancement initiatives
22 Margin expansion via mix, synergies and margin enhancement initiatives Moving up the value chain as our offering evolves while continuing to deliver cost savings Sales mix - expanding into higher-margin adjacencies MEIs - £25m of cost savings in FY26 Cost savings delivered1 (£m) Cost Discipline C
Slide 23: Strategic foundations for FY28+
23 Strategic foundations for FY28+ We have significant opportunities for further growth and value creation, underpinned by Agentic AI 1. Capture ‘Share of Wallet’ 2. Turbo-Charge Projects 3. Grow Facilities Compliance 4. Technology Acceleration Capture client ‘Share of Wallet' Investment to ‘turbo-c
Slide 24: 1. Capture ‘Share of Wallet’
£600m 3yr CME target 24 £623m revenue growth in 2 yrs FM 1. Capture ‘Share of Wallet’ Leveraging existing relationships to deliver expanded IFM across our largest strategic client accounts £1.5bn ‘Share of Wallet’ opportunity Growth enablers Recent successes +64 +30 Sector Value Propositions: Indust
Slide 25: 2. ‘Turbo-charge’ (Facilities Transformation) Projects
£200m 3yr CME target 25 £322m revenue growth in 2yrs FT 2. ‘Turbo-charge’ (Facilities Transformation) Projects Investments to build a >£2bn business; c.80% upsold to existing FM customers Growth enablers Significant growth opportunity in data centre market Recent examples ‘OneMitie’: Unlock cross-se
Slide 26: 3. Grow Facilities Compliance – Total Managed Water
£400m 3yr CME target 26 £230m revenue growth in 2yrs FC 3. Grow Facilities Compliance – Total Managed Water Water Cross-sell end-to-end Water offering to high-consumption FM/FT clients #1 End user client services Water Infrastructure (Utilities) opportunity Go-to-market approach £2.6bn Water Retail
Slide 27: 3. Grow Facilities Compliance – Total Fire & Security
£400m 3yr CME target 27 £230m revenue growth in 2yrs FC 3. Grow Facilities Compliance – Total Fire & Security F&S The only provider of ‘Total Fire & Security’ self delivered capability in the UK #1 Market leading offering Growth initiatives Recent Successes New brand identity & GTM strategy: £5.0bn
Slide 28: 4. Technology Acceleration – AI Strategy
28 >5% 4. Technology Acceleration – AI Strategy Operating margin Further progress in executing our AI strategy to drive customer satisfaction and efficiencies Core Systems Intelligent Solutions Mozaic360 offering data Intelligent Engineering Intelligent Hygiene and insight to 140+ Rollout completed
Slide 29: 4. Technology Acceleration – Process Re-Imagining & Optimisation
>5% 29 4. Technology Acceleration – Process Re-Imagining & Optimisation Operating margin Building an Agentic Orchestration layer to manage our Agents, optimise workflows and enhance client interfaces Mite of the future will be delivered through eight re-imagined domains Example outcomes Engineering
Slide 30: Summary
Summary 30 Strong Growth Resilience High Visibility Cash Generative Double-digit growth Operating margin Record order book, Good FCF and low in revenue and op. up, despite material majority delivered in leverage underpin profit for third cost headwinds next 3 years, and £100m of share consecutive ye
Slide 31: Appendix
Appendix
Slide 32: Revenue: Facilities Management, Transformation and Compliance
32 Revenue: Facilities £m FY26 FY25 % change Management, Facilities Management 3,797 3,649 +4.1 Transformation and Facilities Transformation 1,401 1,238 +13.2 Compliance Facilities Compliance 421 196 +114.8 Mitie Group 5,619 5,083 +10.5
Slide 33: Return on invested capital (ROIC)
33 Return on invested £m FY26 FY25 % change capital (ROIC) Operating profit before Other items 264.1 234.1 +13 Tax1 (64.7) (55.5) +17 Operating profit before Other items after tax 199.4 178.6 +12 Invested capital2 1,100.1 730.2 +51 ROIC % 18.1% 24.5% (6.4ppt) 1 Tax charge has been calculated on oper
Slide 34: Invested capital (for ROIC)
34 Invested capital £m FY26 FY25 Increase / % change (decrease) (for ROIC) Net assets 532.5 428.0 104.5 +24 Add: Non-current liabilities 639.6 445.2 194.4 +44 Current provisions 36.9 37.4 (0.5) (1) Deduct: Cash and cash equivalents (108.9) (180.4) 71.5 (40) Invested capital 1,100.1 730.2 369.9 +51