Slide 1: 1HFY26 Half-Year Results Presentation
1HFY26 HALF-YEAR RESULTS PRESENTATION 25 FEBRUARY 2026 VEEM LTD INVESTOR PRESENTATION MARCH 2020 PRINCESS YACHTS
Slide 2: Disclaimer
DISCLAIMER THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR ADVERTISEMENT PAST PERFORMANCE This document, including the information contained in this disclaimer, is not a prospectus, product disclosure statement or other Past performance information in this document is given for illustration purposes o
Slide 3: Agenda
Agenda 1. 1HFY26 Highlights 2. Executive Summary 3. Financial Results 4. Operational Performance 5. Outlook 6. Q&A 3
Slide 4: 1HFY26 Highlights
1HFY26 Highlights Revenue Total Activity1 EBITDA $23.4m Revenue, $23.3m EBITDA and NPAT down -$0.2m and on the prior year due to raw materials (Guidance -$1m-$1m) freight cost increases, general staff shortages and COVID impact (Guidance $24m-$26m) on customers, suppliers and staff. Cash Net Debt Un
Slide 5: Executive Summary
Executive Summary • VEEM’s revenue for the half-year was $23.4m (down 30% on 1HFY25) with total activity (Sales + change in WIP) of $23.3m (down 32% on 1HFY25) due to lower gyro and timing of defence sales. • EBITDA and NPAT were -$0.2m and -$19.3m down on $3.9m and $0.9m respectively for 1HFY25, wi
Slide 6: Long Term Growth Trajectory
Long Term Growth Trajectory Annual Revenue Since Listing 80,000,000 70,000,000 60,000,000 50,000,000 40,000,000 $ 30,000,000 20,000,000 10,000,000 - FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 6
Slide 7: Our products and markets
Our products and markets World’s best technology with large target markets, using automation and robotics to manufacture efficiently in Australia Propulsion Defence Gyrostabilisers Engineering • World’s best performing propellers • Defence supplier for over 30yrs • Only major supplier of large gyros
Slide 8: Financial Results
FINANCIAL RESULTS VEEM LTD INVESTOR PRESENTATION MARCH 2020 PRINCESS YACHTS
Slide 9: 1HFY26 Profit
1HFY26 Profit FY26 – A transition year laying the foundation for higher future revenue and profitability • 1HFY26 expected propeller revenue trough with signs of improvement to marine market emerging. 1HFY25 1HFY24 • VEEM Extreme enquiries have been robust since launch A$mil. % Change with 1st contr
Slide 10: Balance Sheet
Balance Sheet Fortified balance sheet post capital raising 31 Dec 2025 30 June 2025 • $13.1m net proceeds of capital raising Change strengthened balance sheet and provided A$mil. A$mil. platform for investment into defence. Current Assets 45.4 43.0 5.5% • The Company held cash on hand of $9.1m at 31
Slide 11: Cash Flow
Cash Flow Underlying business underpins solid cash flow • Cashflows from operations of $4.0m (1HFY25: 1HFY25 1HFY24 $1.8m) were very strong as a result of % Change A$mil. A$mil. commencement of the next phase of the ASC contract. • $14m (before costs) raised via the issue of new Cash flows from oper
Slide 12: Net Debt
Net Debt Capital raising significantly reduces net debt • $13.1m net proceeds received from capital raising 31Jan26 31Dec25 30Jun25 Net Debt1 conducted during the half year. A$mil.2 A$mil. A$mil. • Net debt has further decreased post the end of the half-year with the company moving to a net Overdraf
Slide 13: Operational Performance
OPERATIONAL PERFORMANCE VEEM LTD INVESTOR PRESENTATION MARCH 2020 PRINCESS YACHTS
Slide 14: Propulsion
Propulsion • Propulsion (non defence) sales of $13.0m were down 9% on 1HFY25 with signs of improvement in the marine market in late 1HFY26 and early 2HFY26. • VEEM Extreme launched to limited launch customers with significant enquiries received from other interested parties since. • VEEM Extreme pro
Slide 15: Defence
Defence • Defence revenue of $3.7m in the half year was down 49% on the corresponding period largely as a result of the delay in receipt of ASC orders until late in the half. • VEEM continues to be a reliable, local source of highly sophisticated critical components for the Collins Class submarines.
Slide 16: Gyrostabilisers
Gyrostabilisers • Next generation Mark III gyro launched during the half year. • Key features include: Patented oiling system – Elimination of seals means no scheduled maintenance. Custom low friction bearings – ~20% reduction in power consumption for small and mid frame models. Internal fluid
Slide 17: Engineering Products and Services
Engineering Products and Services • Engineering products and services revenue (excluding defence) of $8.2m was down 5% and remained solid in the context of a large 13% increase in 1HFY25. • VEEM’s traditional engineering business focuses on foundry-led, precision engineered products, including custo
Slide 18: Outlook
OUTLOOK VEEM LTD INVESTOR PRESENTATION MARCH 2020 PRINCESS YACHTS
Slide 19: Outlook – Propulsion & Defence
Outlook – Propulsion & Defence Propulsion: • Global demand for VEEM’s propellers is expected to pick up into 2HFY26 and beyond as marine sector begins to recover. • VEEM Extreme to be advanced with launch customers. • Expansion of offerings including shaftlines, flow-aligned rudders and brackets. •
Slide 20: Outlook – Gyro & Engineering
Outlook – Gyro & Engineering Gyrostabilisers: • Mark III marketing and availability to drive sales going forward which have been reduced by purchase hesitancy in anticipation of the new model. • In addition to existing commercial and recreational market working to expand into defence and defence rel
Slide 21: Q&A
Q&A 21
Slide 22: Appendices
VEEM LTD INVESTOR PRESENTATION MARCH 2020 APPENDICES PRINCESS YACHTS
Slide 23: Corporate Overview
Corporate Overview Corporate Snapshot VEE Share Price History 2 2.5 ASX Code VEE Vol. - Million 1.8 Share Price (24 February 2026) $0.65 1.6 2 1.4 Market Capitalisation (24 February 2026) $95.4m 1.2 1.5 Shares on Issue 147m 1 0.8 1 0.6 Substantial Shareholders % 0.4 0.5 Miocevich Family 46.96% 0.2 0
Slide 24: Contact VEEM LTD
This ASX announcement was authorised for release by the Board of VEEM Limited. Contact VEEM LTD INVESTOR PRESENTATION Mark Miocevich Tino Kapfumo Trevor Franz Managing Director CFO & Co Sec MARCH 2020 Investor Relations +61 8 9455 9355 +61 8 9455 9355 Trevor.franz@lgcapital.com.au +61 406 882 736 @V