Slide 1: Coles Group Limited – 2026 Full Year Results Presentation
25 August 2026 The Manager Company Announcements Office Australian Securities Exchange Dear Manager Coles Group Limited – 2026 Full Year Results Presentation Please find attached for immediate release to the market the 2026 Full Year Results Presentation for Coles Group Limited. This announcement is
Slide 2: 2026 Full Year Results Presentation
2026 Full Year Results Presentation 25 August 2026 Leah Weckert, Managing Director & Chief Executive Officer Charlie Elias, Chief Financial Officer The new Coles and Liquorland in Yarrawonga, Victoria. Opened in May 2026 and one of the1 13 new supermarkets and 16 new liquor stores opened during the
Slide 3: Disclaimer
Disclaimer This presentation contains summary information about Coles Group Limited (ACN 004 089 936) and its controlled entities (together, ‘Coles’, ‘Coles Group’ or ‘the Group’) and Coles’ activities as at the date of this presentation. It is information given in summary form only and does not pur
Slide 4: FY26 highlights
FY26 highlights Group EBIT +9.9% and NPAT +13.7%1 Market share gains in Supermarkets2 with sales ex-tobacco of +5.1% Supermarkets eCommerce sales +26.4%; CFCs EBITDA positive $311 million in Simplify and Save to Invest benefits Customer satisfaction and team member engagement increased Targeted inve
Slide 5: FY26 financial highlights - strong earnings growth
FY26 financial highlights - strong earnings growth Group sales revenue Group EBIT NPAT growth excl. SI 1 excl. SI 1 +2.8% +9.9% +13.7% $45.6 billion $2,322 million $1,255 million Supermarkets sales Supermarkets EBIT Total dividends2 revenue growth ex- growth declared, fully franked tobacco +5.1% +12
Slide 6: Consistent strategy execution driving strong performance
Consistent strategy execution driving strong performance Coles’ strategy flywheel Refreshed in FY26 to reflect importance of non-food in our offer and the increasing role of AI in our business ✓ Customer proposition is resonating Customer satisfaction higher across all key metrics, value offer stron
Slide 7: More value, simpler promotions and greater personalisation
Destination for food, drink and everyday essentials More value, simpler promotions and greater personalisation Expanded everyday Fewer, bigger Increased loyalty & Exclusive to Coles value range promotions personalisation >5,600 everyday value More impactful discounts Record engagement Growth ahead p
Slide 8: Exclusive to Coles continues to strengthen differentiation
Destination for food, drink and Exclusive to Coles continues to strengthen differentiation everyday essentials +6.1% 40 awards Exclusive to Coles 17 Product of the Year sales growth1 awards Health & +9.2% convenience Coles Finest ranges performing sales growth strongly New exclusive partnerships Not
Slide 9: Customer satisfaction scores improved across all key metrics
Destination for food, drink and everyday essentials Customer satisfaction scores improved across all key metrics Quality Range Availability +240bps +220bps +330bps Store look Price and feel +110bps +280bps Notes: (1) Tell Coles NPS for FY26 vs FY25 (moving annual total basis). 8
Slide 10: Unique offer accelerating digital engagement and driving profitable growth
Accelerated by digital Unique offer accelerating digital engagement and driving profitable growth Double digit … with disciplined execution sales uplift across all channels delivering profitable growth +26.4% +10% Online fulfilment through our CFCs Improved pick and last mile Coles 360 income Superm
Slide 11: CFCs delivered strong volume growth and positive EBITDA
CFCs delivered strong volume growth and positive Accelerated by digital EBITDA NPS +710bps ahead >30% sales growth Positive EBITDA of total Online NPS1 ahead of total eComm growth in FY26 (year 2 of operations) Catchment areas expanded Same day delivery introduced Expanded offer with introduction of
Slide 12: Personalisation connecting loyalty, commerce and media
Accelerated by digital Personalisation connecting loyalty, commerce and media More personalised offers Making discovery Expanding customer easier touchpoints New for you My weekly specials >10% additional value by participating in My weekly specials shopper New advertising placements in app personal
Slide 13: $876 million of SSI benefits delivered; on track to exceed $1 billion by FY27
Delivered consistently for the future $876 million of SSI benefits delivered; on track to exceed $1 billion by FY27 FY26 Cumulative SSI savings $311 million SSI benefits delivered1 $876m CUMULATIVE $565m $876 million benefits delivered since FY241 $238m PROVEN TRACK RECORD $1.9 billion FY24 FY25 FY2
Slide 14: Our scale, proprietary data and channels create a structural AI advantage
Delivered consistently for the future Our scale, proprietary data and channels create a structural AI advantage Next wave of value – moving from discrete use cases to connected systems of work ~18m 10.3m >1,800 ~35,000 >8,000 >115,000 transactions active Flybuys stores SKUs suppliers team members p/
Slide 15: Committed to supporting our team members, suppliers, communities and sustainability priorities
Committed to supporting our team members, suppliers, communities and our sustainability priorities Highest ever >97.5% fresh produce $45 million contributed Reduced by 82.6% team member engagement¹ sourced from Australian growers3 in community support4 Scope 1 & 2 emissions from FY20 baseline 42.4%
Slide 16: Strategic update
15 Strategic update 15 The Coles in Spring Farm Village, Tasmania, opened in May 2026.
Slide 17: Execution against our FY23 priorities has delivered a stronger business
Execution against our FY23 priorities has delivered a stronger business FY23 priorities FY26 outcomes Stronger Strengthen value, 35% 15.1% +270bps ~15% 5/5 range and quality reduction in customer and differentiate Exclusive to Coles penetration Coles Finest 3-year sales EDLP penetration promotions k
Slide 18: Translating to strong earnings growth and returns
Translating to strong earnings growth and returns FY23 FY26 EBIT growth significantly ahead Total sales revenue Total sales revenue of sales growth Continuing operations +4.0% CAGR $40.5bn $45.6bn Group EBIT Group EBIT1 +7.7% CAGR Continuing operations $1,859m $2,322m Return on capital Return on cap
Slide 19: Disciplined capital allocation will continue to underpin future growth and shareholder returns
Disciplined capital allocation will continue to underpin future growth and shareholder returns Capital management framework FY24-FY26 (last 3 years) Cash realisation Operating cash flow Target above 100% ~100% Less interest and tax Core capex ~$300m pa maintenance capex ~$1.1bn pa ~$800m pa core gro
Slide 20: Looking ahead: targeted investments to drive growth
Looking ahead: targeted investments to drive growth $880 million investment in third ADC1 Will serve VIC and TAS and integrate with SA and WA network Victorian Customer 4.6m cartons per week capacity, ~15% above NSW/QLD ADCs ADC stronger experience Completes eastern seaboard ambient automation and o
Slide 21: Group financial overview
20 Group financial overview Our Customer Fulfilment Centres delivered a strong performance during the year reflecting 20 the strength of our 'Deliver More' offer and its ongoing appeal to customers.
Slide 22: FY26 results – Group
FY26 results – Group $m FY26 FY25 Change Group results (excluding SI¹) Sales revenue 45,580 44,352 2.8% EBITDA (excl. SI¹) 4,220 3,941 7.1% EBIT (excl. SI¹) 2,322 2,112 9.9% Financing costs (538) (541) 0.6% Income tax expense (529) (467) (13.3%) Net profit after tax (excl. SI¹) 1,255 1,104 13.7% Gro
Slide 23: FY26 results – Segment overview
FY26 results – Segment overview $m FY26 FY25 Change Supermarkets Sales revenue 41,472 39,987 3.7% Supermarkets sales increased 3.7% (5.1% ex-tobacco) and EBIT 12.2% with EBIT margin expanding 43bps. Operating EBIT 2,365 2,108 12.2% efficiencies more than offset investment in value and EBIT margin %
Slide 24: Operating cash flow
Operating cash flow Cash flow Commentary $m FY26 FY25 EBIT (excl. significant items) 2,322 2,112 • Working capital broadly neutral, with higher receivables largely offset by increased payables. Depreciation and amortisation 1,898 1,829 • Provisions and other primarily reflects the provision raised a
Slide 25: Capital expenditure
Capital expenditure Capital expenditure breakdown Key capital expenditure initiatives $m FY26 FY25 Store renewals 71 Supermarkets and 141 Liquor renewals/conversions Store renewals 368 349 13 new Supermarkets and 16 Liquor stores and continued Growth initiatives eCommerce investment Growth initiativ
Slide 26: Strong balance sheet and liquidity support investment and dividends
Strong balance sheet and liquidity support investment and dividends Debt facility maturity profile ($m) Dividends (cps) Weighted Interim Final Franking credit average drawn balance of ~$550 debt maturity of million after 4.4 years with payment of final undrawn facilities 37 dividend of $2.5 billion1
Slide 27: Supermarkets
26 Supermarkets 26 Team members at the opening of the Coles Local in Glen Iris, Victoria in April 2026.
Slide 28: Supermarkets
Supermarkets Sales revenue Sales revenue growth ex- EBIT growth tobacco $41.5bn +5.1% +12.2% 3.7% vs. pcp vs. pcp vs. pcp eCommerce sales growth1 eCommerce penetration1 Exclusive to Coles sales growth2 +26.4% 13.6% +6.1% vs. pcp vs. pcp Notes: (1) eCommerce sales and penetration includes liquor sold
Slide 29: Supermarkets – FY26 results
Supermarkets – FY26 results $m FY26 FY25 Change Key commentary Key P&L items • Sales +3.7% (+5.1% ex-tobacco) supported by value investment and Sales revenue 41,472 39,987 3.7% key trade events EBITDA 4,099 3,788 8.2% • Q4 inflation broadly stable at 1.0% (Q3: 1.1%) EBIT 2,365 2,108 12.2% • eCommerc
Slide 30: Liquor
29 Liquor Coles made celebrations easier with our integrated food and drink offering, 29 helping customers spend less time shopping and more time enjoying the occasion.
Slide 31: Liquor
Liquor Sales revenue EBIT Gross margin $3.5bn $59m 23.9% (3.3%) vs. pcp (47.8%) vs. pcp +40bps vs. pcp Convenience portfolio1 sales Net Promoter Score (NPS)2 Liquor store renewals growth Positive +12% 141 improvement vs. pcp completed in FY26 Notes: (1) Includes the 895 Liquorland and Liquorland Cel
Slide 32: Liquor – FY26 results
Liquor – FY26 results $m FY26 FY25 Change Key commentary Key P&L items • Sales were impacted by the cycling of prior year benefits from the Sales revenue 3,547 3,667 (3.3%) competitor supply chain disruption, together with ongoing cost of living pressures and subdued consumer sentiment. Promotional
Slide 33: Outlook
Outlook Through the support of our team members, customers and supplier partners, our Fitted for Work campaign raised 32 >$500,000, helping women experiencing disadvantage become job ready and secure meaningful employment.
Slide 34: Outlook
Outlook “We know what matters most to our customers - delivering great value, • We enter FY27 in a strong position, with Supermarkets having gained market share and significantly quality and convenience every time improved customer satisfaction scores over the past year they shop with us. We have ma
Slide 35: Q&A
Q&A Coles is proud to support former team member Johnathan Thurston and the Johnathan Thurston Academy, 34 focused on preparing First Nations students for employment and long-term economic participation.