Grafton Group Plc · LSE:GFTU
Grafton — Investor Day (June 2026)
109 slides from Grafton's investor day presentation, Jun 11, 2026
Slide 1: Grafton Group Plc Capital Markets Event
GRAFTON GROUP PLC CAPITAL MARKETS EVENT 11 June 2026 CME 2026
Slide 2: Welcome & Introduction
CME 2026 WELCOME & INTRODUCTION 2 CME 2026
Slide 3: Grafton is a European platform of scale
• Grafton is a European platform of scale #1 in growing Irish market with unmatched scale Leading positions in Northern Europe and GB with significant recovery potential Ambition for accelerated growth in attractive Iberian market and beyond • Clear strategy and powerful federated operating mo
Slide 4: Agenda
START FINISH TOPIC SPEAKER(S) 12.30 13.00 INTRODUCTION & STRATEGY Eric Born 13.00 13.15 CAPITAL ALLOCATION & FINANCE David Arnold 13.15 13.45 ISLAND OF IRELAND Patrick Atkinson | Damien Dwyer | Pippa Casey 13.45 14.10 GREAT BRITAIN Frank Elkins 14.10 14.30 Q&A Grafton team | Hosted by Eric Born & Da
Slide 5: Scalable European platform
£319.2M SCALABLE ~10,000 EBITDA EUROPEAN COLLEAGUES >£2.5BN (12.7% EBITDA margin) PLATFORM REVENUE (FY25) ~600 £184.3M LOCATIONS1 EBITA (7.3% EBITA margin) 13.7% STRONG AVG. ROCE +180 BPS OPERATING 77.8% TSR PERFORMANCE (15.8%2 FTSE 250 peers) (2016-25) £1.8BN MARGIN CUMULATIVE FCF 5 Notes: 1) Inclu
Slide 6: Purpose, values, growth strategy and operating model
OUR FEDERATED OPERATING OUR PURPOSE & VALUES OUR GROWTH STRATEGY MODEL • We provide our trade customers • Long-term organic growth • Supported and enabled by our in Europe with construction Structural growth drivers federated operating model and related products and solutions investments in sustai
Slide 7: Large and fragmented construction product distribution market
We operate in a large and relatively fragmented market of construction product distribution ESTIMATED MARKET €440BN+ SIZE IN EUROPE SIGNIFICANT GROWTH POTENTIAL ESTIMATED MARKET FOR GRAFTON SIZE IN EXISTING €130BN+ GRAFTON COUNTRIES 7 Source: Bain & Company, Boston Consulting Group, BDO, BMBI and Gr
Slide 8: Region, model and business selection criteria
PORTFOLIO OF TRADE FOCUSED REGION / COUNTRY MODEL SELECTION BUSINESSES IN EACH SELECTION GEOGRAPHY • GDP, population growth • Profitability & return • Strong, empowered teams • Structural housing shortage potential of distributors • Differentiated models with • Improvement need in • Strong trusted,
Slide 9: Portfolio by geography
ISLAND OF IRELAND GREAT BRITAIN NORTHERN EUROPE IBERIA SELCO LEYLAND SDM TG LYNES CPI EUROMIX STAIRBOX CHADWICKS GROUP IKH (PARTNER) MACBLAIR IKH (OWN) SALVADOR ESCODA WOODIE’S NETHERLANDS MERCALUZ 120+ locations 120+ locations 265+ locations1 110+ locations 9 Notes: 1) Includes 15 IKH own stores an
Slide 10: The federated operating model
Strong controls Performance Governance Best practices Standards Expert knowledge Policies Capital allocation ISLAND OF GREAT NORTHERN IBERIA IRELAND BRITAIN EUROPE Margin Customer- Local Operational Clear common Policies, procedures Disciplined management centric execution excellence standards and c
Slide 11: Positioned to win the recovery
ACCELERATED ONGOING GROWTH POSITIONED TO WIN THE RECOVERY GROWTH ISLAND OF IRELAND GREAT BRITAIN NORTHERN EUROPE IBERIA Consumer Generalist Specialist Generalist Specialist Specialist Specialist Specialist focus Anticipated built- margins EBITA Sustainable Anticipated performance post recovery >9% o
Slide 12: The Grafton Way and market assumptions
THE GRAFTON WAY MARKET ASSUMPTIONS ORGANIC OPERATIONAL CAPITAL MARKET GROWTH EXCELLENCE ALLOCATION RECOVERY • New branches • Productivity and • Growth and • Ongoing market • New customers and efficiency maintenance capex growth in Ireland share of wallet improvements • M&A • Gradual improvement • Ow
Slide 13: Capital Allocation & Finance
CME 2026 CAPITAL ALLOCATION & FINANCE 13 CME 2026
Slide 14: Capital allocation framework overview
Capital allocation framework Group evolution and application of the capital allocation framework (a 10-year lookback) How we think about financial leverage Our financial targets What to expect – Group evolution over the next five years 14
Slide 15: Our prioritisation of capital allocation
OUR PRIORITISATION OF CAPITAL ALLOCATION FREE CASH 1) Fund organic growth and existing estate FLOW + 2) Dividend cover: 2-3 times earnings TARGET FINANCIAL LEVERAGE 3) Inorganic growth 4) Share buybacks and / or special dividends 15
Slide 16: 2016 vs. 2025
2016 vs. 2025 £’M 2016 2025 Revenue 2,507.3 2,519.6 EBITA 137.1 184.3 EBITA margin 5.5% 7.3% Free cash flow per share (pence) 56.7 86.6 Net cash / (debt) pre IFRS 16 leases (96.3) 274.0 Adjusted EPS (pence) 47.7 75.4 Dividend per share (pence) 13.8 37.8 16
Slide 17: 2016 vs. 2025 revenue and EBITA by region
2016 vs. 2025 2016 REVENUE 2025 £'M 2016 2025 6.8% 8.5% Revenue 2,507.3 2,519.6 23.8% 18.6% 30.4% EBITA 137.1 184.3 69.4% 42.5% EBITA margin 5.5% 7.3% 2016 EBITA1 2025 Free cash flow per share (pence) 56.7 86.6 5.6% 6.6% 14.6% Net cash / (debt) pre IFRS 16 leases (96.3) 274.0 26.8% 24.2% Adjusted EP
Slide 18: 2016 vs. 2025 free cash flow and net cash
2016 vs. 2025 FREE CASH FLOW POST LEASE PAYMENTS (£’M) 250 £’M 2016 2025 200 Average £177M Revenue 2,507.3 2,519.6 150 100 50 EBITA 137.1 184.3 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 EBITA margin 5.5% 7.3% Free cash flow per share NET CASH / (DEBT) (pence) 56.7 86.6 PRE-IFRS 16 LEASES (
Slide 19: Free cash flow and uses 2016-2025
FREE CASH FLOW = £1,770.0M DISPOSAL PROCEEDS = £679.7M OUR PRIORITISATION OF CAPITAL ALLOCATION £’M Organic growth development capex (287.6) 1) Fund organic growth and existing estate Dividends (523.5) 2) Dividend cover: 2-3 times earnings 3) Inorganic growth Acquisitions (649.4) 4) Share buybacks a
Slide 20: Dividend cover and reduction in shares
DIVIDEND COVER FREE CASH FLOW £1,770.0M DPS (p) Dividend cover DPS1 Dividend cover 40.0 4.0 30.0 TARGET COVER 2-3x 2.0 20.0 £’M 10.0 0.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Organic growth development capex (287.6) Dividends (523.5) REDUCTION IN SHARES IN ISSUE (M) 240 20.5% fewer Acqui
Slide 21: Investment-grade credit rating and leverage target
Maintaining an investment-grade credit rating is a core priority for the Board GRAFTON LEASE ADJUSTED NET DEBT : EBITDA TARGET THEORETICAL ~£600M RANGE NET DEBT CEILING1 (31 December 2025: £123M) 1.0x – 2.0x We will manage the ceiling dependent on position in overall market cycle 21 Notes: 1) Using
Slide 22: Organic investment, acquisitions and buybacks
SHARE BUYBACKS AND / OR ORGANIC INVESTMENT ACQUISITIONS SPECIAL DIVIDENDS Platforms: >10% • Buybacks, organic investment ROCE >13% ROCE and acquisitions analysed on Bolt-ons: >13% competing basis • Strengthen existing market • Building materials distribution • Board predisposed to investing position
Slide 23: Our financial targets
GEOGRAPHICALLY Leading market positions across multiple European geographies DIVERSIFIED CUMULATIVE FCF £850M+ (2026-30) FINANCIAL Investment grade credit rating retained LEVERAGE 1.0x – 2.0x lease adjusted net debt to EBITDA EPS1 (2025-30) >10% CAGR ROCE (2030) ~13% SHAREHOLDER Dividend cover of 2.
Slide 24: Island of Ireland
CME 2026 ISLAND OF IRELAND 24 CME 2026
Slide 25: Patrick Atkinson
ISLAND OF IRELAND PATRICK ATKINSON CHIEF EXECUTIVE OFFICER ISLAND OF IRELAND DISTRIBUTION JOINING YEAR Joined Chadwicks Group in 2015 and appointed CEO in 2017 EXPERIENCE 30+ years in the building materials industry OVERVIEW 25
Slide 26: Island of Ireland at a glance
ISLAND OF IRELAND AT A GLANCE Island of Ireland represents our home market generating €1.25bn of revenue MARKET ENTRY FY25 REVENUE TRADE 1902 €1.25BN FOCUS Established 19021 % GROUP FY25 FY25 EBITDA REVENUE €173.4M 42.5% 13.9% margin TRADE FOCUS FY25 EBITA LOCATIONS Acquired 120+ €129.4M 1990 10.3%
Slide 27: Irish macro and housing forecasts
ISLAND OF IRELAND Key: Actual Forecast CAGR CHART 1: MODIFIED GNI* (€BN in 2022 prices, 2024-27F) CHART 2: POPULATION (M, 2022-28F) POPULATION CHANGE FORECAST +1.7% +1.1% +2.4% (%, 2025-35) +5.1% 400 6 5.3 5.4 5.5 5.5 5.6 5.6 325 333 5.2 295 310 317 300 267 282 10.2% 4 200 2 100 0 0 2022 2023 2024 2
Slide 28: Island of Ireland revenue and EBITA margin
ISLAND OF IRELAND Revenue EBITA (€M) Woodie’s IOI distribution EBITA % margin (%) 1,400 15% 1,300 1,247 14% Strong recovery 1,200 1,156 1,161 1,191 13% 12% since GFC 1,100 1,088 11% 1,000 879 887 10% Margin peak at 900 834 9% 800 772 700 716 8% ~14% in COVID 7% 600 6% 500 5% 400 4% Sustainable 300 2
Slide 29: Distribution business: sales and branches
ISLAND OF IRELAND ANNUAL SALES (FY2025) NUMBER OF BRANCHES €923M 88 85% CHADWICKS GROUP 15% MACBLAIR HEADCOUNT NUMBER SKUS SOLD 2,000+ 200K+ CHADWICKS GROUP MACBLAIR 29
Slide 30: Product range
ISLAND OF IRELAND MECHANICAL VENTILATION ATTIC INSULATION TIMBER FRAME STRUCTURES LOFT LADDERS ROOF SLATES TIMBER TILES FACIA & SOFFITS ROOF WINDOWS ROOF FELT EXTERNAL INSULATION BRICKS SANITARY WARE LINTELS KITCHENS CLADDING TILES FENCING STEEL DRAINAGE PAVING MEMBRANES CIVILS HEAT PUMPS PLUMBING B
Slide 31: Leveraging buying scale and synergies
ISLAND OF IRELAND Leveraging buying scale & Island of LARGEST BRANCH PRODUCT Ireland synergies NETWORK OFFERING Offer most comprehensive product range Engaged & highly knowledgeable colleagues Optimise processes to drive down OMNICHANNEL EXPERT costs OFFERING COMMITTED TEAM Flexibility in formats (s
Slide 32: Growth, category mix and margin levers
ISLAND OF IRELAND KEY CATEGORY MIX & GROWTH COST AND PRODUCTIVITY LEVERS MARGIN LEVERS FOCUS CUSTOMER GROWTH RETURNS-LED GROWTH OPERATIONAL EXCELLENCE Driving growth across volume, Pricing excellence COGS, Procurement mix, formats and cross-border brand expansion Product / customer mix Transport eff
Slide 33: Digital: branch of the future
ISLAND OF IRELAND TRADE HUB TRADE HUB PRO 1 2 BRANCH OF 1 HOUR CLICK THE FUTURE: 6 DIGITAL CUSTOMER 3 & COLLECT, SKIP THE JOURNEY SAME DAY COUNTER ENHANCEMENTS DELIVERY OPTIONS VIRTUAL REP 5 4 AI PRODUCT ENHANCEMENT 33
Slide 34: Evidence of unlocking synergies: Sitetech
ISLAND OF IRELAND EVIDENCE OF UNLOCKING SYNERGIES +66% REVENUE (€M) 34.2 • Acquired Sitetech in 2022, a specialist 20.7 early-stage concrete and masonry accessory business 2021 2025 • Higher-margin product offering, mainly non-core building material products +173% EBITA (€M) • Customer base is large
Slide 35: Exceptional platform to serve trade customers
ISLAND OF IRELAND EXCEPTIONAL PLATFORM TO SERVE TRADE CUSTOMERS Current operating margin is sustainable White space for new Favourable macroeconomic Digital branches and M&A tailwinds transformation The IOI distribution business will continue to grow organically and through strategic acquisitions, w
Slide 36: Damien Dwyer and Pippa Casey
ISLAND OF IRELAND DAMIEN DWYER PIPPA CASEY CHIEF EXECUTIVE OFFICER DIGITAL AND MARKETING DIRECTOR WOODIE’S WOODIE’S Joined Woodie’s in 2013 as JOINING JOINING Commercial Director, appointed Joined Woodie’s in June 2024 YEAR YEAR CEO in 2022 EXPERIENCE EXPERIENCE 10+ years delivering 15+ years in ret
Slide 37: Woodie's overview
ISLAND OF IRELAND Annual sales (FY25) STORE FOOTPRINT HOME IMPROVEMENT OFFERING €324M Number of products sold >30k DIY Number of employees 1,500 Selling space HOME 1.4M ft2 Stores 36 GARDEN National brand awareness 97% 37
Slide 38: Winning formula and competitive advantages
ISLAND OF IRELAND Winning formula Competitive advantages Known and loved Irish brand BRAND STRENGTH STORES AND FORMAT Nationwide coverage and e-commerce platform Large-format anchor presence in prime retail parks RANGE AUTHORITY AND DIGITAL STRENGTH INNOVATION Range authority and innovation High cus
Slide 39: Woodie's key growth levers
ISLAND OF IRELAND CAPITAL MARKET-LEADING VALUE AND SCALABLE KEY OMNICHANNEL ALLOCATION & CORE & ORGANIC MARGIN PLATFORMS & LEVERS GROWTH ENGINE EXECUTION GROWTH DISCIPLINE PRODUCTIVITY STRENGTH Customer-led Disciplined Strong market Returns-led Operational FOCUS incremental capital positions growth
Slide 40: Unlocking value through omnichannel shopping
ISLAND OF IRELAND UNLOCKING INCREMENTAL VALUE THROUGH CUSTOMER SPEND BY OMNICHANNEL SHOPPING FULFILLMENT CHANNEL 1. Omnichannel customers spend more 2. Woodies.ie is our digital front door (~60% of Why customers research online before store visits) 5.0x 3. Driving incremental growth through e-commer
Slide 41: Strategic growth drivers
ISLAND OF IRELAND DIGITAL REVENUE EXPECTED OUR STRATEGIC DRIVING OUR NEXT PHASE OF TO 3X ITS SHARE OF GROWTH DRIVERS GROWTH THROUGH INNOVATION BUSINESS BY 2030 DROPSHIP & Expand online extended ranges to drive +130% MARKETPLACE differentiated product CRM and loyalty capability to drive CRM & LOYALTY
Slide 42: #1 DIY, home and garden retailer in Ireland
ISLAND OF IRELAND #1 DIY, HOME AND GARDEN RETAILER IN IRELAND Key takeaways MARKET OPPORTUNITY SCALABLE DISCIPLINED REMAINS ATTRACTIVE MODEL GROWTH Established market leader with significant growth headroom 42
Slide 43: Great Britain
CME 2026 GREAT BRITAIN 43 CME 2026
Slide 44: Frank Elkins
GREAT BRITAIN FRANK ELKINS CHIEF EXECUTIVE OFFICER GREAT BRITAIN JOINING YEAR Joined in 2024 as CEO of Selco and GB Distribution EXPERIENCE 30+ years of experience in building materials distribution sector OVERVIEW 44
Slide 45: Great Britain at a glance
GREAT BRITAIN AT A GLANCE Entered GB in 1988, and built out position via organic and inorganic growth SELCO MARKET ENTRY FY25 REVENUE GENERALIST LEYLAND SDM 1988 £765.4M TG LYNES Acquired 1998 CPI EUROMIX STAIRBOX % GROUP FY25 FY25 EBITDA SPECIALISTS REVENUE £106.4M 30.4% 13.9% margin FY25 EBITA LOC
Slide 46: Generalist and specialist offering
GREAT BRITAIN PROJECT PROJECT BEGINNING COMPLETION GENERALIST Building Flooring Kitchens & Fixings & materials & tiling bathrooms adhesives Electricals, Timber Plumbing Painting & lighting & & joinery & heating decorating ventilation Tools, Landscaping Security & equipment & fencing ironmongery & PP
Slide 47: Great Britain revenue and EBITA margin
Generalist Specialist EBITA margin % Revenue EBITA (£M) margin (%) COVID-driven 900 808 828 810 18% boom in RMI 800 767 765 16% 700 661 670 14% Challenging 600 550 606 12% conditions since 500 478 10% 2022 400 8% 300 6% Volumes 200 4% significantly 100 2% below 2019 levels 0 0% 20161 20171 20181 201
Slide 48: Housing market recovery is delayed, not derailed
GREAT BRITAIN UNDERSUPPLY OF NEW AMBITIOUS GOVERNMENT HOMES TARGETS When, not if – housing market recovery is delayed, not derailed Easing back OLDEST HOUSING STOCK CONTINUED POPULATION restrictive IN EUROPE GROWTH planning system 80% of UK housing is 50+ years old 48
Slide 49: #1 in London
GREAT BRITAIN #1 IN LONDON BRAND STRENGTH STORE FORMAT Stores 70+ SKUs 15,000+ % Heavyside ~66% Colleagues 2,500+ HIGHLY SKILLED DISTRIBUTION Collection 70% COLLEAGUES CENTRE Credit 15% Digital 6.5% HGVs & vans 300+ 49
Slide 50: Speed, certainty, value, convenience, knowledge
GREAT BRITAIN SPEED CERTAINTY VALUE CONVENIENCE KNOWLEDGE Reliability of Trusted basket Omnichannel Professional Quicker fulfilment promise price offering advice Minimal friction in Demand for Customer Time is money Respect for trade stores and online transparency proximity 50
Slide 51: Customer proposition initiatives
GREAT BRITAIN SPEED CERTAINTY VALUE CONVENIENCE KNOWLEDGE Loyalty Shelf edge price Delivery management Click and collect Promotions Network Apprenticeships (informed by 1st Stock accuracy Web and App party data) Digitalisation Training Range availability Same day delivery Own brand Underpinned by co
Slide 52: Organic growth drivers and investment
GREAT BRITAIN Organic growth drivers Investing for sustainable growth Direct sourcing and own brand DIGITAL NEW DC development INVESTMENT New distribution centre Customer loyalty scheme CUSTOMER OWN BRAND LOYALTY SCHEME Digital investment Branch expansion and new format Through a combination of self
Slide 53: Digital and network initiatives
GREAT BRITAIN SPEED CONVENIENCE CPI EUROMIX DIGITAL APP LEYLAND SDM NETWORK WINDOW BUILDER Customer-led digital proposition New store in South Kensington Buying bespoke timber windows is slow, complex and time consuming Improved service & revenue quality No cannibalisation from 2 existing stores wit
Slide 54: GB fundamentals remain positive
GREAT BRITAIN FUNDAMENTALS GB fundamentals remain positive for new-build housing and RMI REMAIN POSITIVE CUSTOMER Strengthen our proposition around speed, certainty, value, convenience & PROPOSITION knowledge INVESTING THROUGHOUT Not waiting for the market to recover, but addressing now THE CYCLE Ne
Slide 55: Q&A
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Slide 56: Breakout Session: Technology
CME 2026 BREAKOUT SESSION: TECHNOLOGY 56 CME 2026
Slide 57: Local agility, group foundations
LOCAL AGILITY, GROUP WELL-INVESTED SCALABLE GROWTH EMULATE & REPLICATE FOUNDATIONS OPERATING SYSTEMS • Business IT for local market • Cyber and core technology • We repeat what works – local needs • ERP systems deployed in allow businesses to scale implementations, not • Shared, secure Group each bu
Slide 58: AI supply chain planning: emulate & replicate
BEFORE AUTOMATION RIGHT STOCK IN THE RIGHT PLACE AFTER AUTOMATION • Manual, rule-based orders • Automated forecasting • Customer promise – increased • Reduced local agility • Replenishment in branch and DCs availability in stores • Optimise shelf space and planograms • Optimised Working Capital – hi
Slide 59: Blueprint in action: technology-enabled M&A playbooks
BLUEPRINT IN ACTION TECHNOLOGY ENABLED M&A PLAYBOOKS TECHNOLOGY CYBER FIRST STRENGTHEN BUILD FOR GROWTH PLATFORM DILIGENCE FOUNDATIONS ACQUISITION • Protect systems, • Modernise local ERP to evergreen platform colleagues, data, • Core infrastructure • Assess IT risk customers • Build out digital • B
Slide 60: Technology summary
LOCAL Agile and high performing local technology teams, supported by TECHNOLOGY TEAMS secure technology foundations PROVEN Proven technologies that work in one business, with repeated value TECHNOLOGIES across others DISCIPLINED TECH Repeatable M&A with a disciplined technology playbook to secure PL
Slide 61: Breakout Session: Corporate Development
CME 2026 BREAKOUT SESSION: CORPORATE DEVELOPMENT 61 CME 2026
Slide 62: Strategy, development and transaction execution
STRATEGY & DEVELOPMENT TRANSACTION EXECUTION LEAD ON PLATFORM SUPPORT ON BOLT-ON STRATEGIC ACQUISITIONS ACQUISITIONS • Research markets and trends • Origination • Provide technical M&A training • Empower business units to drive • Competitor analysis • Valuation strategy and origination • Support Gro
Slide 63: Corporate development and business units roles
CORPORATE DEVELOPMENT BUSINESS UNITS Lead M&A Set strategy Valuation & modelling Drive local origination Diligence (all workstreams) Own the acquisition M&A IS A KEY Strategy & commercial diligence PART OF THE Own the local relationship M&A legal GRAFTON WAY Own the integration Integration disciplin
Slide 64: M&A process: origination to integration
EXCLUSIVITY TO SIGNING ~2.5 MONTHS ORIGINATION VALUATION DILIGENCE & EXECUTION INTEGRATION APPROVALS & OVERSIGHT TRANSACTION DOCUMENTATION TARGET NEGOTIATIONS IDENTIFICATION WRITE BUSINESS COMPETITION CASE PROCESS SET STRATEGY NBO SUBMISSION LEAD DILIGENCE 100 DAY PLAN BOARD (INTEGRATION) PAPERS BUI
Slide 65: Execution track record since 2020
Since 2020 EXECUTION TRACK RECORD 20 Acquisitions completed STRONG “HIT RATE” 1 IN 7 Targets assessed were acquired EFFICIENT PRIORITISATION 1 IN 3 Targets assessed were presented for approval STRONG FILTRATION +70% Targets presented for approval were approved STRENGTH OF RELATIONSHIPS 50% Acquisiti
Slide 66: Corporate development summary
CORPORATE A team with the capability to execute transactions with DEVELOPMENT IS A SPECIALIST FUNCTION accuracy and speed ENSURING STRATEGIC Mindset of M&A being a key part of the Grafton Way ingrained ALIGNMENT throughout the Group CREATING SHAREHOLDER Well positioned to build on our strong track r
Slide 67: Breakout Session: Talent
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Slide 68: Shared HR ambitions
OUR INDUSTRY IS ABOUT EMPOWERING AND PEOPLE – SO ARE WE ENGAGING COLLEAGUES WITH THESE SHARED HR AMBITIONS Our centres of excellence and PERFORMANCE & CAPABILITY communities share best practice ENGAGEMENT & EXPERTISE and expertise LEADERSHIP & TALENT DIGITAL ENABLEMENT We have a strong focus on WORK
Slide 69: Development, engagement and performance
Group scale enables investment in apprenticeships and DEVELOPMENT training academies that individual businesses could not deliver alone Selco is leveraging the Group-wide approach, vendors and ENGAGEMENT systems to have highly engaged teams that generate higher productivity and profitability We have
Slide 70: Local innovation plus shared capability
LOCAL INNOVATION + SHARED CAPABILITY = SUPERIOR RETURNS Sharing engagement A connected HR community Investing today to build the practices that strengthen accelerating ideas and workforce of tomorrow performance impact 70
Slide 71: Northern Europe
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Slide 72: Bert Bunschoten and Anu Ora
NORTHERN EUROPE BERT BUNSCHOTEN ANU ORA CHIEF EXECUTIVE OFFICER CHIEF EXECUTIVE OFFICER ISERO AND POLVO IKH JOINING Joined Isero in 2012 as CFO, JOINING YEAR YEAR Joined IKH in 2025 appointed CEO in 2014 EXPERIENCE 25+ years of experience in EXPERIENCE 25+ years of experience in food OVERVIEW distri
Slide 73: Northern Europe at a glance
NORTHERN EUROPE AT A GLANCE Built ~€550M revenue business in Northern Europe since acquiring Isero in November 2015 NETHERLANDS MARKET ENTRY FY25 REVENUE 2015 €548.3M % GROUP FY25 FY25 EBITDA REVENUE €61.7M 18.6% 11.3% margin Acquired 2015 FY25 EBITA FINLAND LOCATIONS1 265+ €34.6M 6.3% margin HEADCO
Slide 74: Northern Europe revenue and EBITA margin
NORTHERN EUROPE Netherlands Finland EBITA % Revenue EBITA IKH acquired in H2 2021 (€M) margin (%) 600 562 565 14% 554 548 550 13% Businesses 500 12% 11% 450 400 421 10% 9% averaged double- 350 311 8% digit margins 300 250 241 7% 6% pre-COVID 200 176 5% ECB rate rises 150 4% 150 107 3% and inflation
Slide 75: The Netherlands at a glance
THE NETHERLANDS AT A GLANCE ~€400M revenue business built through organic and inorganic growth; creating a market leader in the distribution of ironmongery, tools, workwear and PPE MARKET ENTRY FY25 REVENUE 2015 €404.0M % GROUP FY25 FY25 EBITDA REVENUE €47.5M 13.7% 11.8% margin Acquired 2015 FY25 EB
Slide 76: Netherlands acquisition and branch history
THE NETHERLANDS 38 113 118 119 acquired acquired acquired acquired van Grafton acquired Kooning Govers den Anken Isero Schiphol NorthWest (+1 branch) (+38 branches) (+50 branches) (+1 branch) (+4 branches) 125 121 2016 2017 2018 2020 2022 2024 2026 2015 2019 2021 2023 2025 57 62 113 123 Moved acquir
Slide 77: Netherlands macro and housing forecasts
THE NETHERLANDS Key: Actual Forecast CAGR CHART 1: GDP (€BN at 2025 prices, 2022-28F) CHART 2: HOUSING COMPLETIONS ('000, 2022-28F) (2.5%) +2.7% +0.7% +1.0% 1,400 80 74.6 73.6 73.5 74.5 75.0 1,159 1,179 1,191 1,201 1,216 69.1 69.2 1,200 1,153 1,146 1,000 60 800 40 600 400 20 200 0 0 2022 2023 2024 2
Slide 78: Modernising branch formats and value-added services
THE NETHERLANDS MODERNISING BRANCH FORMATS VALUE-ADDED SERVICES (VAS) • Introduced new branch format to Isero - more shop • >17.5% share of revenue includes VAS components space (65%) vs. warehouse space (35%) • Focus on access control and related support services Improved customer experience Su
Slide 79: Winning formula and competitive advantages
THE NETHERLANDS Winning formula Competitive advantages NATIONAL COVERAGE COLLEAGUE EXPERTISE In-depth product knowledge Close customer and supplier relationships PRODUCT RANGE & Fast service and reliable delivery VALUE-ADDED SERVICES OMNICHANNEL OFFERING Flexibility to adapt to customers’ needs A tr
Slide 80: Organic growth ambitions and investment
THE NETHERLANDS Organic growth ambitions Investing for sustainable growth Leverage scale and our differentiated ERP SYSTEMS DC MECHANISATION service-led model Broaden into adjacent segments using existing ranges Grow in specialty lines e.g. Workwear and GROW DIGITAL INTEGRATED LOGISTICS PPE, access
Slide 81: Clear pathway to grow revenue and network
THE NETHERLANDS EXPAND BRANCH Clear pathway to grow revenue and to expand our network NETWORK DIFFERENTIATED VALUE-ADDED Leverage scale with a differentiated service-led model SERVICES PROVEN TRACK Track record of disciplined growth, integration and execution RECORD OPERATIONAL Clearly defined lever
Slide 82: Finland at a glance
FINLAND AT A GLANCE Grafton entered Finland in 2021 via IKH, a technical wholesaler that operates own stores and supplies partner stores across Scandinavia & Estonia MARKET ENTRY FY25 REVENUE 2021 €144.3M FY25 % GROUP FY25 EBITDA REVENUE 4.9% €14.2M 9.8% margin FY25 EBITA LOCATIONS1 145+ €6.6M 4.6%
Slide 83: Finland sales channels and product categories
FINLAND SALES CHANNELS (% sales, 2025) Annual sales (FY2025) €144M 46% 36% Number SKUs sold 9% 50,000 3% 6% Own stores - Finland Partner stores Partner stores - e-store B2C Finland other - Finland outside Finland Headcount 440+ PRODUCT CATEGORIES % own brand Workwear and PPE Machinery and spare part
Slide 84: Finland macro and housing forecasts
FINLAND Key: Actual Forecast CAGR CHART 1: GDP (€BN in 2025 prices, CHART 2: HOUSING COMPLETIONS CHART 3: BASE INTEREST RATE POPULATION 2022-28F) ('000, 2022-28F) (%, 2022 H1 2022-H2 2025) CHANGE FORECAST (%, 2025-35) (0.2%) +1.2% 4.5 4.2 300 283 283 287 291 4.0 3.8 3.8 279 280 281 (22.5%) 3.5 250 4
Slide 85: Winning formula and competitive advantages
FINLAND Winning formula Competitive advantages Capital light, unique partner model B2B OFFERING CUSTOMER SERVICE Strong B2B end-user offering Robust systems and processes PAN-NORDIC NETWORK UNIQUE BUSINESS MODEL Product range and availability A-brands and strong own brands Winning with partners and
Slide 86: Organic growth ambitions and investment
FINLAND Organic growth ambitions Investing for sustainable growth EXPANSION IN ERP, POS & SOP Closer customer proximity SCANDINAVIA Optimise own brand offering DIGITAL OFFERING B2B FIELD SALES FORCE Grow share of wallet New partner stores beyond Finland IKH’s unique business model and investment pla
Slide 87: Iberia
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Slide 88: Mario Ballarín
IBERIA MARIO BALLARĺN CHIEF EXECUTIVE OFFICER IBERIA JOINING Joined January 2026 YEAR EXPERIENCE 17 years at Bunzl in senior international leadership roles OVERVIEW 11 years of experience in transaction services at KPMG 88
Slide 89: New models
IBERIA NEW MODELS • Continue to consolidate with bolt-ons in • Identify models exhibiting: similar models Attractive growth dynamics High fragmentation • Complement existing business: Strong profitability New product categories New geographies • Enter new product categories beyond HVAC • C
Slide 90: Iberia at a glance
IBERIA AT A GLANCE Entered Iberia in 2024 and built a ~€400M revenue business FY25 PRO-FORMA1 REVENUE €248.4M €397.8M % GROUP 2 REVENUE 8.5% 12.8% EBITDA €27.1M ~€52.9M Acquired 2024 10.9% margin 13.3% margin EBITA €15.8M ~€38.2M 6.4% margin 9.6% margin LOCATIONS 90+ 110+ HEADCOUNT ~800 1,200+ SALVA
Slide 91: Spain macro and housing forecasts
IBERIA Key: Actual Forecast CAGR CHART 1: GDP (€BN at 2025 prices, 2022-28F) CHART 2: POPULATION (M, 2022-28F) POPULATION CHANGE +1.8% +0.9% FORECAST +2.9% +1.1% (%, 2025-35) 2,000 1,724 1,754 1,780 60 50.0 50.5 1,549 1,587 1,642 1,687 47.5 48.1 48.6 49.1 49.6 5.8% 1,500 40 1,000 20 500 0 0 2022 202
Slide 92: Portugal macro and housing forecasts
IBERIA Key: Actual Forecast CAGR CHART 1: GDP (€BN at 2025 prices, 2022-28F) CHART 2: POPULATION (M, 2022-28F) POPULATION CHANGE FORECAST +2.4% +1.9% +1.0% +1.0% (%, 2025-35) 400 15 301 307 314 319 324 11.0 11.1 295 10.6 10.7 10.9 3.4% 300 286 10.4 10.5 10 200 5 100 0 0 2022 2023 2024 2025 2026F 202
Slide 93: Salvador Escoda and Mercaluz acquisitions
IBERIA SALVADOR ESCODA ACQUISITION Mario Ballarín • Family-owned business founded in 1974 becomes CEO of • Leading distributor of air conditioning, ventilation and refrigeration Iberia products including a strong portfolio of own brand e.g. Mundoclima • “One-stop shop” for professional installers 20
Slide 94: Salvador Escoda and Mercaluz sales mix
IBERIA Annual sales (FY2025) Annual sales (FY2025) €248m €149m PRODUCT CATEGORIES (% sales, 2025) PRODUCT CATEGORIES (% sales, 2025) 37% 57% 6.4% EBITA margin 25% 26% 15.0% EBITA margin 27% 12% 16% Number SKUs sold Number SKUs sold 140,000 Air conditioning Ventilation Refrigeration Other1 9,000 Air
Slide 95: Growth, category mix and margin levers
IBERIA KEY CATEGORY MIX & MARGIN GROWTH COST AND PRODUCTIVITY LEVERS LEVERS DISCIPLINED FOCUS CUSTOMER GROWTH OPERATIONAL EXCELLENCE CAPITAL DEPLOYMENT Growth in areas and categories Pricing excellence amongst the Logistics efficiencies through bolt-on acquisitions and Iberian companies organically
Slide 96: Winning formula and competitive advantages
IBERIA Winning formula Competitive advantages COLLEAGUES & Lean management team BRANCH NETWORK CULTURE Performance culture Product expertise and customer service Enhance digital capabilities PRODUCT RANGE OWN BRAND Strong own brands Enhance export capabilities 96
Slide 97: Market opportunity: HVAC
IBERIA MARKET Fast-growing economies, consolidation potential OPPORTUNITY HVAC Two complementary acquisitions in our initial distribution model CUSTOMER New customer channels, digital initiatives, export markets GROWTH OPERATIONAL Mix enhancements and fixed cost leverage under one lean team EXCELLEN
Slide 98: Conclusion
CME 2026 CONCLUSION 98 CME 2026
Slide 99: Ian Tyler and Eric Born
IAN TYLER NON-EXECUTIVE CHAIR ERIC BORN GROUP CHIEF EXECUTIVE OFFICER 99
Slide 100: Our 2030 ambitions
OUR 2030 AMBITIONS FREE CASH FLOW • European platform of scale enabling (CUMULATIVE £850M+ access to structural growth markets 2026-30) • Diversified portfolio providing resilience throughout the cycle EPS (2025-30)1 >10% CAGR • Significant opportunity to improve financial returns through the Grafto
Slide 101: Q&A
CME 2026 Q&A Grafton om G cme 2026 Group ple
Slide 102: Appendices
CME 2026 APPENDICES 102 CME 2026
Slide 103: Group executive and Island of Ireland presenters
GROUP ERIC DAVID IAN EXECUTIVE BORN ARNOLD TYLER AND CHAIR GROUP CHIEF GROUP CHIEF NON-EXECUTIVE CHAIR EXECUTIVE OFFICER FINANCIAL OFFICER ISLAND OF PATRICK DAMIEN PIPPA IRELAND ATKINSON DWYER CASEY CHIEF EXECUTIVE OFFICER CHIEF EXECUTIVE OFFICER DIGITAL AND MARKETING ISLAND OF IRELAND WOODIE’S DIRE
Slide 104: Great Britain, Northern Europe and Iberia presenters
GREAT FRANK BRITAIN 0 ELKINS CHIEF EXECUTIVE OFFICER GREAT BRITAIN NORTHERN BERT ANU EUROPE BUNSCHOTEN ORA CHIEF EXECUTIVE OFFICER CHIEF EXECUTIVE OFFICER ISERO AND POLVO IKH IBERIA MARIO BALLARÍN CHIEF EXECUTIVE OFFICER IBERIA 104
Slide 105: Technology, corporate development and talent presenters
TECHNOLOGY NATHAN BISHOP GROUP CHIEF INFORMATION OFFICER CORPORATE STEPHEN CHARLIE DEVELOPMENT HUNTER STEEDMAN GROUP CORPORATE GROUP CORPORATE DEVELOPMENT DIRECTOR DEVELOPMENT SENIOR MANAGER TALENT CARMEN SALLY LOTHIAN KERR GROUP CHIEF HUMAN HR DIRECTOR RESOURCES OFFICER SELCO 105
Slide 106: Group support team
VICKY ISABEL ROSIE CRANER DALTON HOWELLS EA TO GROUP CEO AND GROUP CORPORATE GROUP HEAD OF GROUP CFO COMMUNICATIONS SUSTAINABILITY MANAGER SUSAN DAVID ARTHUR LANNIGAN O’DONOGHUE SPEAK GROUP GENERAL COUNSEL GROUP FINANCIAL GROUP CORPORATE AND COMPANY SECRETARY CONTROLLER DEVELOPMENT STRATEGY ASSOCIAT
Slide 107: Definitions of alternative performance measures
Profit before amortisation of intangible assets arising on acquisitions, acquisition related items, exceptional items, EBITA net finance expense and income tax expense Earnings before exceptional items, acquisition related items, net finance expense, income tax expense, depreciation EBITDA and intan
Slide 108: Forward-looking statements
This presentation may include forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "outlook," "believe(s),"expect(s)," "potential," "continue(s)," "may," "will," "should," "could," "would," "seek(s)," "predict(s
Slide 109: Thank you
CME 2026 THANK YOU 109 CME 2026