Slide 1: Interim results 2026
Glenveagh Properties Plc Interim results 2026 This File is Classified: Confidential
Slide 2: Today's agenda
Executive summary 3 Strategic and operational review 10 Today’s agenda Home for the Future 14 Financial review 18 Conclusion 27 Appendix I: ESG Ratings 31 Glenveagh Properties plc | Interim Results 2026 | September 2026
Slide 3: Executive summary
Executive summary This File is Classified: Confidential
Slide 4: H1 2026 Highlights
H1 2026 Highlights E X E C U T I V E Sold out for 2026; delivery and EPS guidance upgraded; buyback doubled Sold out for 2026 Record order Partnerships S U M M A R Y book growth 100% €1.8bn €176m of 2026 units sold, up 29% y-o-y (H1 2025: €1.4bn) in Partnerships revenue contracted or reserved up 43%
Slide 5: Robust underlying fundamentals
Robust underlying fundamentals E X E C U T I V E Strong domestic economy and supply deficit underpinning housing demand Growing population with the youngest Employment at record highs with 60k Completions well below structural profile in Europe earnings growth outpacing inflation demand levels S U M
Slide 6: Decisive and supportive government policy
Decisive and supportive government policy E X E C U T I V E Framework largely complete, focus shifting to implementation and delivery S U M M A R Y Housing-first NDP Key supports in place Implementation in focus • €275bn National Development • Help to buy: extended to • Planning Act 2024 bedding in:
Slide 7: Demand side programs
Demand side programs E X E C U T I V E Help to Buy and First Home Scheme driving home ownership HTB and FHS comprise ~4.5% of €7.5bn1 2026 housing support ..but provide outsized impact to first time buyers2 S U M M A R Y Maximum mortgage Help to Buy First Home Scheme Buyer's cash requirement Enablin
Slide 8: High-quality, well located, fully assembled landbank
High-quality, well located, fully assembled landbank • Landbank expanded to ~21,000 E X E C U T I V E Providing visibility for medium-term objectives units (FY 2025: ~19,000), with limited incremental capital investment • Supports delivery of 2,900 - S U M M A R Y 76% 24% 3,700 units per annum throu
Slide 9: Our differentiated investment case
Our differentiated investment case E X E C U T I V E Uniquely positioned to deliver on compelling market opportunity S U M M A R Y Compelling market Sector-leading Delivering strong opportunity platform outcomes • Structural undersupply • Highly attractive own-door • Focused approach to driving cust
Slide 10: Strategic and operational review
Strategic and operational review This File is Classified: Confidential
Slide 11: Homebuilding
Homebuilding S T R A T E G I C H1 momentum underpins delivery Group cumulative spend versus prior year A N D +34% 155 O P E R A T I O N A L units completed €63.9m in revenue, H2-weighted R E V I E W January February March April May June 21.9% gross margin, +50 bps y-o-y 2025 2026 • All units expecte
Slide 12: Partnerships
Partnerships S T R A T E G I C Established as partner of choice for State and State Agencies A N D €176m €23m 13.2% O P E R A T I O N A L Revenue +43% Gross profit +16% Gross margin (H1 2025: €123.2m) (H1 2025: €20.0m) (H1 2025: 16.2%) Construction activity advancing across six active sites, with co
Slide 13: Partnerships pipeline
Partnerships pipeline S T R A T E G I C Partnerships pipeline High-quality pipeline strengthening visibility provides strong medium-term visibility, underpinning the next phase of growth A N D Land 33% 67% source • Over 7,000 units with estimated O P E R A T I O N A L Internal State NDV of approxima
Slide 14: Home for the Future
Home for the Future This File is Classified: Confidential
Slide 15: Positioning the business to offset a structurally higher cost environment
Positioning the business to offset a structurally higher cost environment H O M E The external cost challenge of carbon pricing and labour scarcity to 2030 F O R Ireland carbon tax — legislated path to T H E Bridging today’s workforce to the 2030 €100/t (2030) 1 requirement2 (‘000) F U T U R E 53 28
Slide 16: Glenveagh's integrated response
Glenveagh’s integrated response H O M E Replacing traditional construction methods with pre-manufactured value F O R T H E Carlow 3 F U T U R E Arklow factories Dundalk System of sequential benefits Timber frame and light gauge steel Embedded across the platform Construction timeline External wall s
Slide 17: Vertical integration timeline
Vertical integration timeline H O M E Approach fully absorbed across the standardised own-door portfolio by 2030 F O R 2026 2027 2028 2029 2030 T H E F U T U R E Timber frame Up to 100% of portfolio 100% of portfolio - today Energy and water system Up to 100% from H2 2026 New system from H2 2026 Ext
Slide 18: Financial review
Financial review This File is Classified: Confidential
Slide 19: Performance highlights
Financial update F I N A N C I A L Income statement H1 2026 H1 2025 Performance R E V I E W €’m €’m highlights Revenue 239.7 341.6 Cost of sales (202.5) (274.8) +43% Partnerships revenue Gross profit 37.2 66.8 Gross margin 15.5% 19.5% Central costs 21.8 23.0 +50bps EBITDA 15.4 43.8 Homebuilding marg
Slide 20: Overhead progression
Financial update F I N A N C I A L Overhead progression Overhead cost as percentage of Group revenue 6.9% Benefits of €1,400m 6.5% Scale R E V I E W €1,200m 5.6% 5.9% 5.4% €1,068.0m 6.5% to 4.8% €1,000m 4.9% Overheads as a percentage €925.9m €869.2m 4.8% of revenue, 2023 to 2026C % of revenue €800m
Slide 21: Financial position
Financial update F I N A N C I A L Balance sheet H1 2026 FY 2025 Financial €’m €’m R E V I E W Property plant and equipment 70.9 67.7 position Other assets 17.4 16.4 Non-current assets 88.3 84.1 Inventory 1,077.8 837.7 €558.5m1 Trade and other receivables 241.6 227.2 land balance (FY 2025: Cash and
Slide 22: Capital discipline
Financial update F I N A N C I A L Net debt bridge €32m €423m Capital R E V I E W €219m €8m €8m €9m discipline (€5m) (€21m) €209.1m operating cash outflow €19m €300m €168m Expected releases in (€15m) Land, WIP and Contract Asset in H2 ~€120m 2026 expected net debt EBITDA WIP Capex Interest Buybacks
Slide 23: Future cash driver
Financial update F I N A N C I A L Evolving landbank – 2025 to 2027 bridge Future cash R E V I E W €558.5m driver ~€25m Land investment at peak Land balance of €558.5 million1 at 30 June 2026, including targeted ~€70m - €90m ~€400m - €460m acquisitions of ~€33 million in H1 Portfolio gains supportin
Slide 24: Funding strength
Financial update F I N A N C I A L Group refinancing Funding R E V I E W Five-year €450m RCF €100m seven-year USPP strength Provided by the Group's existing Private placement notes issued to lenders namely AIB, Bank of Ireland, MetLife, introducing long-dated Barclays and HBFI, joined by ING institu
Slide 25: Capital allocation priorities
Capital allocation priorities F I N A N C I A L Disciplined and balanced capital allocation, focusing on value creation R E V I E W 1 2 3 4 Land WIP Supply chain Return excess cash • Landbank expanded to • Construction spend up • Off-site investment is • Target average net debt approximately ~21,000
Slide 26: 2026 Outlook
2026 Outlook F I N A N C I A L 01 02 03 R E V I E W EPS guidance upgraded Deliveries upgraded to Further growth in to at least 21 cent more than 1,700 Partnerships, with the (previously up to 21 Homebuilding units and identified pipeline cent), supported by more than 2,900 total underpinning average
Slide 27: Conclusion
Conclusion This File is Classified: Confidential
Slide 28: Our differentiated investment case
Our differentiated investment case C O N C L U S I O N Uniquely positioned to deliver on compelling market opportunity Compelling market Sector-leading Delivering strong opportunity platform outcomes • Structural undersupply • Highly attractive own-door • Focused approach to driving customer demand
Slide 29: Q&A
Q&A 29
Slide 30: IR contacts and calendar
IR contacts and calendar IR contacts Conor Murtagh CFO Kate Halliday Investor Relations investors@glenveagh.ie IR calendar FY 2026 trading update January 2027 FY 2026 results March 2027 Glenveagh Properties plc | Interim Results 2026 | September 2026 30
Slide 31: Appendix I: ESG Ratings
Appendix I: ESG Ratings This File is Classified: Confidential
Slide 32: ESG ratings
ESG ratings Independent assessments of Glenveagh’s sustainability performance CDP MSCI Sustainalytics A * AA ** 12.1 *** Leader Leader Low Risk • CDP scores measure how well disclosers • MSCI’s ESG Ratings measure a company’s • Morningstar Sustainalytics' ESG Risk Ratings understand and manage their
Slide 33: General disclaimer
General disclaimer This announcement does not constitute or form any part of an invitation to underwrite, subscribe for or otherwise acquire or dispose of any shares of Glenveagh Properties plc ("Glenveagh" or "the Group"). This announcement contains statements that are, or may be deemed to be, forw