Slide 1: 1HY26 Financial Results Investor Presentation
1HY26 Financial Results Investor Presentation 1
Slide 2: Joyce Group
Joyce Group “Helping Australians add value to their greatest asset - the family home” KWB Group 51% Majority Interest in Net Profit Attributable to JYC Shareholders 30 showrooms* Established brands High performing, high REVENUE EBIT with strong customer margin, capital light 1HY26 1HY26 relationship
Slide 3: Operating Results 1HY26
fa JoyceGroup Operating Results 1HY26
Slide 4: Joyce Group 1HY26 Performance Overview
Joyce Group 1HY26 Performance Overview o Strong operational and financial performance from capital light and high margin businesses $81.7M $10.0M Group Revenue Group NPAT o Strategy focused on organic growth, operational efficiency and disciplined capital management o Operational highlights include:
Slide 5: Results Overview
Results Overview Key financial performance metrics ($’000) 1HY26 1HY25 Variance Increased revenue and margins Revenue 81,654 73,420 8,234 11.2% Group operating expenses at ~26% of Revenue (comparable Contribution Margin 41,083 36,781 4,302 11.7% to pcp) Normalised* Total Group Operating Expenses 21,
Slide 6: Focused on returns to shareholders
Focused on returns to shareholders 1HY26 1HY25 Record interim dividend at 13 cents per share (fully Dividend (cents per share) 13.0 10.5 franked) NPAT to Joyce Shareholders ($’000) 5,137 3,052 Normalised* NPAT to Joyce Shareholders ($’000) 5,137 3,975 NPAT payout ratio of 75% Normalised* EPS (cents
Slide 7: Results Overview
Results Overview Cashflow 6 months to 31 Dec ‘25 ($M) Opening Cash 39.2 Operating Cashflow • $16.0M cash generated from operating activities (excl. $4.3M Operating lease payments, $4.5M tax payments and $0.5M interest Cashflow 16.0 received) Lease 4.3 Liabilities Tax Investing Activities - Capex 4.0
Slide 8: KWB Group
(3 JoyceGroup KWB Group
Slide 9: KWB Group Showroom Network
KWB Group Showroom Network Wallspan June ‘25 New Showrooms Dec ‘25 o 4 x SA Showrooms Kitchen Connection 29 1 30 o 13 x QLD Showrooms o 13 x NSW Showrooms Over 2,000 kitchens and 1,000 Melrose Park, Adelaide opened in wardrobes designed and installed first quarter of FY26 –showroom in FY26. network
Slide 10: Business model
KWB Group Business model Capital - light, scalable operating model : showroom - led, low- capital footprint with disciplined site selection, enabling Completion & Showroom efficient network expansion and operational leverage Seek Referral (specify & qualify) Inspiring showrooms located in A- grade h
Slide 11: Orders and Revenue
KWB Group Orders and Revenue Total Orders and Average Orders per showroom ($M) o Demand broad - based across network 80 2.4 70 2.3 o 1HY26 orders of $71M up 22% on pcp - sustained 60 50 2.2 demand and contribution from both new and established showrooms 40 2.1 30 2.0 o Like - for- like orders of $59
Slide 12: Operating Performance
KWB Group Operating Performance o FY25 showrooms exceeding expectations - ($’000) 1HY26 1HY25 Variance delivering margin improvement and operational efficiency Segment Revenue 67,416 59,190 8,226 13.9% o EBIT $14.5M up 14.7% on pcp - reflects strategic Segment EBIT 14,530 12,667 1,863 14.7% network
Slide 13: Future Growth Initiatives
Future Growth Initiatives KWB Group o New showrooms secured for late FY26 and FY27 (ACT, QLD and NSW) o Operational leverage continues to build as FY25 and 1HY26 showrooms reach steady state o Refined marketing strategy with increased focus on digital marketing to drive higher quality customer leads
Slide 14: Bedshed
(j JoyceGroup Bedshed
Slide 15: Bedshed Store Network
Bedshed Store Network Company operations o 2 x WA Stores New / (Closed) o 1 x QLD Stores Store Jun ‘25 Dec ‘25 o 2 x NSW Stores Stores Franchise operations Franchised 36 3 39 o 13 x WA Stores o 11 x QLD Stores Company 6 (1) 5 o 4 x NSW Stores o 11 x VIC Stores Strong brand and highly Fundamental foc
Slide 16: Business Written Sales (BWS) and Revenue
Bedshed Business Written Sales (BWS) and Revenue o Significant trading variability - consumers continued Combined Operations to seek promotions and shop for value Revenue ($M) 16 o Network BWS* $82.6M up 2.1% on pcp - like for like 14 up 1.6% on pcp 12 10 o Promotional events drove record BWS during
Slide 17: Operating Performance
Bedshed Operating Performance Franchise Operations Company Store EBIT ($M) and EBIT Margin (%) EBIT ($M) and EBIT Margin (%) 2.0 70% 2.5 25% 1.5 60% 2.0 20% 50% 1.5 15% 1.0 40% 0.5 1.0 10% 30% 0.5 5% - 20% - 0% EBIT normalised* (LHS) EBIT margin* (RHS) EBIT normalised* (LHS) EBIT margin* (RHS) o Fra
Slide 18: Operating Performance
Bedshed Operating Performance Bedshed Combined Operations EBIT ($M) and EBIT Margin (%) 4 30% 3 20% 2 1 10% - 0% 1HY18 1HY19 1HY20 1HY21* 1HY22 1HY23 1HY24 1HY25 1HY26 EBIT normalised* (LHS) EBIT margin* (RHS) ($’000) 1HY26 1HY25 Variance EBIT Franchise operations 1,684 1,427 257 18.0% Company - own
Slide 19: Future Growth Initiatives
Future Growth Initiatives o Network - wide business written sales growth and gross margin protection o Continued focus on product ranging and margin improvement from furniture and mattress offering o Operational enhancements and cost control programs to improve performance of company - owned stores
Slide 20: Corporate Directory
Corporate Directory Top 20 JYC Shareholders - 25 February 2026 Board of Directors Name Units % Units 1 ADAMIC PTY LTD 7,711,568 26.08 Jeremy Kirkwood Non- executive Director (Chair) 2 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 1,761,650 5.96 Karen Gadsby Non- executive Director (Deputy Chair) 3 ANACA
Slide 21: References
References This Presentation should be read in conjunction with the following documents lodged with the ASX on 27 February ‘26 under the ASX ticker JYC : o Appendix 4D and 31 December 2025 Half- Year Financial Report o 1HY 26 - Results Announcement o Dividend/Distribution - JYC 21
Slide 22: Appendix: 1HY26 normalising adjustments
Appendix: 1HY26 normalising adjustments NPAT ($’000) EBITDA EBIT PBT Tax NPAT attributable to JYC s/holders 1HY26 Results per Financial Statements 19,746 14,838 14,522 (4,473) 10,049 5,137 1HY26 Normalised Results 19,746 14,838 14,522 (4,473) 10,049 5,137 1HY25 Results per Financial Statements 15,60
Slide 23: Disclaimer
Disclaimer Information contained in this presentation may involve forward looking statements, No warranty or representation is expressed or implied or will be made as to the and comments about the future including possible future performance estimates, fairness, accuracy, completeness or correctness