Perenti Limited · ASX:PRN
Perenti — FY2026 Earnings Presentation
26 slides from Perenti's earnings presentation, Aug 24, 2026
Slide 1: FY26 Results Presentation
For personal use only FY26 Results Presentation August 2026
Slide 2: Important notice and disclaimer
Important notice and disclaimer This presentation and these materials (together the “Presentation”) have been prepared by Perenti You should consult your own advisors as to legal, tax, financial and related matters and conduct Limited ABN 95 009 211 474 (ASX:PRN) (“Perenti”) as a summary of Perenti’
Slide 3: Our diversified portfolio
Our diversified portfolio We aim to be the safest and most productive in the industry, unlocking enduring value and certainty for our people, clients, communities, and shareholders. For personal use only 12 85% COUNTRIES GOLD and COPPER1 66% 20 UNDERGROUND1 OPERATED MINES ~10,000 >160 PEOPLE CLIENTS
Slide 4: Safety always comes first
Safety always comes first For personal use only Ensuring everyone comes home safe and well, shapes how we operate our business. In FY26, we continued to strengthen our safety systems to prevent fatalities: • Enhanced critical control management; • Leadership training; • Workforce engagement, and; •
Slide 5: FY26 | Strong balance sheet provides platform for growth
FY26 | Strong balance sheet provides platform for growth REVENUE EBITDA EBIT(A) • EBIT(A) met guidance and set a new record at $340 million, driven by $3.5B $652M $340M For personal use only increased group margin to 9.8%. In line with FY25 q 2% on FY25 p 2% on FY25 • Earnings quality continued to i
Slide 6: FY26 | Five consecutive years delivering guidance
FY26 | Five consecutive years delivering guidance 1 Revenue ($M) Underlying EBIT(A) ($M) 4,000 For personal use only Initial Guidance 350 Initial Guidance 300 3,000 250 200 2,000 3,490 3,463 333 340 3,342 150 314 2,880 264 2,438 1,000 100 176 50 0 0 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26
Slide 7: Operations | Driving productivity for our clients and shareholders
Operations | Driving productivity for our clients and shareholders Australia For personal use only • Bellevue contract (~$850M) adds a ninth Australian project for Barminco. • Drilling activity continues to build momentum with increased utilisation. North America • Development at Goldrush for Nevada
Slide 8: Group Performance | Rising margins delivers record earnings
Group Performance | Rising margins delivers record earnings REVENUE EBITDA EBIT(A) EBIT(A) Margin For personal use only $3,463M q 1% vs FY25 $652M ▼ 2% vs FY25 $340M ▲ 2% vs FY25 9.8% ▲ 25 bps vs FY25 3,490 3,463 645 668 652 3,342 333 340 9.8% 314 9.4% 9.6% FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY
Slide 9: Contract Mining | Improved earnings quality and margins
Contract Mining | Improved earnings quality and margins REVENUE EBITDA EBIT(A) EBIT(A) Margin For personal use only $2,431M ▼ 4% vs FY25 $495M ▼ 5% vs FY25 $291M ▲ 2% vs FY25 12.0% ▲ 61 bps vs FY25 2,542 2,519 525 522 2,431 495 12.0% 287 291 11.3% 11.4% 286 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY
Slide 10: Drilling Services | Record revenue and earnings
Drilling Services | Record revenue and earnings REVENUE EBITDA EBIT(A) EBIT(A) Margin For personal use only $843M ▲ 8% vs FY25 $162M ▲ 3% vs FY25 $85M ▲ 1% vs FY25 10.0% ▼ 74 bps vs FY25 843 162 84 85 10.8% 778 158 10.0% 598 8.5% 110 51 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 • D
Slide 11: Mining and Technology Services | Divestment of BTP is pivotal
Mining and Technology Services | Divestment of BTP is pivotal REVENUE EBITDA EBIT(A) EBIT(A) Margin For personal use only $190M ▼ 1% vs FY25 $37M ▲ 18% vs FY25 $11M ▼ 1% vs FY25 6.0% ▲ 4 bps vs FY25 202 53 193 190 25 12.6% 37 31 12 11 6.0% 6.0% FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25
Slide 12: Portfolio Management | Sale of BTP and AMS fleet unlocks $140 - 155M
Portfolio Management | Sale of BTP and AMS fleet unlocks $140 - 155M • Divestment of BTP will unlock $100 million, consistent with the portfolio management strategy. For personal use only • As announced on 20 July 2026, the sale of Iduapriem fleet will generate $30-40 million. • Additional sales fro
Slide 13: Financial Results | Underlying profit and loss
Financial Results | Underlying profit and loss $M1 FY25 FY26 Change For personal use only Revenue 3,490 3,463 q 0.8% • Revenue steady year on year due to transitioning portfolio. EBITDA 668 652 q 2% • Improved EBIT(A) margin was underpinned by: EBITDA margin 19.1% 18.8% q 33 bps • excellent margin p
Slide 14: Financial Results | Statutory reconciliation to underlying
Financial Results | Statutory reconciliation to underlying For personal use only $M REVENUE EBITDA EBIT NPAT • FY26 amortisation of CRI decreased to $28.2 million from $45.3 Final statutory results 3,338.2 558.2 238.9 44.0 million in FY25 due to the completion of several contracts in Africa. Amortis
Slide 15: Financial Results | Cash flow and cash conversion
Financial Results | Cash flow and cash conversion $M FY25 FY26 FY26 (A) • Adjusted free cash flow of $181.6 million exceeds FY26 guidance Operating cash flows (before interest and tax) 658.9 579.9 630.7 For personal use only • Cash conversion of 97% after adjusting for two late client receipts Opera
Slide 16: Financial Results | Balance Sheet stronger and leverage lower
Financial Results | Balance Sheet stronger and leverage lower $M 30 JUNE 2025 30 JUN 2026 $M 30 JUN 2024 30 JUN 2025 30 JUN 2026 Cash and cash equivalents 481 323 Gross Debt 929 786 594 For personal use only Trade and other receivables 569 597 Cash (459) (481) (323) Inventories 289 237 Net Debt 469
Slide 17: Capital allocation delivering value for shareholders
Capital allocation delivering value for shareholders • Successive years of effective capital allocation has built the foundation for the strong free cash flow that the business is delivering. • Disciplined capital allocation, hurdle rates, and tendering discipline are key to generating sustainable l
Slide 18: Shareholder value underpins our strategy
Shareholder value underpins our strategy We aim to be the safest and most productive in the industry, unlocking enduring value and certainty for our people, clients, communities, and shareholders. For personal use only Strategic levers driving performance Balance sheet has never been as strong, prov
Slide 19: Free cash flow creates optionality
Free cash flow creates optionality Strategic framework for capital allocation to deliver TSR for shareholders For personal use only • Dividend policy targets a payout ratio of 30-40% Underlying NPAT(A). Dividends • Total dividends per share for FY26 have grown 7% vs FY25, reflecting a 37% payout rat
Slide 20: Outlook | $6.2B Work in hand and $20.0B Pipeline
Outlook | $6.2B Work in hand and $20.0B Pipeline • Work in hand has increased during 2H26 with contract wins at Bellevue and Duketon in Western Australia, Fourmile in Nevada in addition to smaller contract wins and extensions for both Contract Mining and Drilling Services. For personal use only • Th
Slide 21: Long-term Customer Relationships
Long-term Customer Relationships For personal use only • Client relationships are generally long-term and often span multiple projects • Relationships are not limited by contracts, but often align with projects life-of-mine. • Short term extensions (6-12 months) often precede a longer term contract
Slide 22: FY27 | Pivotal year to drive future growth
FY27 | Pivotal year to drive future growth FY27 Guidance For personal use only Upcoming value creation • Portfolio management to unlock ~$150 million REVENUE $3.45B to $3.65B • Winning and extending projects in the $20B tender pipeline • Successfully ramping up new projects in all regions EBIT(A) $3
Slide 23: Thank you
For personal use only Thank you perenti.com Perenti is an ASX listed, diversified mining services group with interests in contract mining, TO BE THE SAFEST AND drilling services and mining and technology services. Headquartered in Perth and with offices MOST PRODUCTIVE and operations across four con
Slide 24: Appendix: FY26 revenue breakdown
Appendix: FY26 revenue breakdown Revenue by Project (%) Group Contract Mining Drilling Services Mining & Technology Services1 For personal use only Top project 7% 9% 7% 66% Top 2-10 projects 47% 67% 32% 28% Top 11-20 projects 18% 21% 19% 5% All others 29% 3% 42% 1% Revenue by Country/Region (%) Grou
Slide 25: Perenti Contract Mining: Our Global Presence
PERENTI CONTRACT MINING Our Global Presence For personal use only 25
Slide 26: Perenti Drilling Services: Drilling across the mining cycle
PERENTI DRILLING SERVICES Drilling across the mining cycle For personal use only 26