Slide 1: Growth Today; A Stronger Platform for Tomorrow – Half Year Results Presentation
GROWTH TODAY; A STRONGER PLATFORM FOR TOMORROW Half Year Results Presentation 6 August 2026
Slide 2: Our strategy continues to support medium-term value creation
Our strategy continues to support medium-term value creation High quality Three Build quality & Innovation land bank & strong brands Strong customer & vertical growing providing balance sheet service integration outlets diversification Operating margin and ROCE ambition of 20% Increasing shareholder
Slide 3: Strong performance in a challenging market
Strong performance in a challenging market Growing market share while building a platform for future growth Underlying PBT Average outlets Net private weekly sales Completions £170m 273 205 5,189 up 3% 2025: 272 up 7% up 13% Net private sales rate 0.75 Customer satisfaction Plots achieving detailed
Slide 4: Delivering Growth – Andrew Duxbury, CFO
DELIVERING GROWTH Andrew Duxbury Chief Financial Officer
Slide 5: Delivering further growth in a challenging market
Delivering further growth in a challenging market H1 2026 H1 2025 Change New home completions 5,189 4,605 +13% New housing revenue £1,483m £1,308m +13% Gross profit £267.0m £262.4m +2% Gross margin – New housing 18.0% 20.1% (210)bps Operating profit £189.1m £172.0m +10% Operating margin – New housin
Slide 6: Delivering homes at affordable prices
Delivering homes at affordable prices Completions: H1 2026 H1 2025 Change 7% increase in private completions Legal completions Private – PH 3,706 3,543 +5% Persimmon Homes private completions up 5% including 548 BTR (2025: 586) Private – CC 555 444 +25% 36% of private completions to Total Priv
Slide 7: Volume growth driving operating profit
Volume growth driving operating profit £m 33.2 1.6 Volume growth driven by increase in ASP / mix 12.5 189.1 outlets and sales rate 172.0 (30.2) Net Operating margin 12.8% Volume Cost operating (2025: 13.1%) increase increases expense decrease Margin impacted by increased HA mix, cost inflation
Slide 8: A strong balance sheet for growth
A strong balance sheet for growth Jun 2026 Jun 2025 Change Dec 2025 Change £1bn committed banking facilities Land £2,528m £2,289m +£239m £2,592m £(64)m Work in progress £1,847m £1,695m +£152m £1,634m +£213m Adjusted gearing 18% Land creditors £(497)m £(401)m £(96)m £(623)m +£126m Investment in
Slide 9: Land bank gives growth visibility and confidence in medium-term margin recovery
Land bank gives growth visibility and confidence in medium-term margin recovery Assumed Cost to Number of plots average revenue1 Average plot cost assumed revenue 1 Plots owned with detailed planning 39,113 £294,151 £39,243 13.3% Plots owned proceeding to planning 27,782 £302,360 £37,195 12.3% Total
Slide 10: Good progress on building safety
Good progress on building safety Identified developments 30 Jun 2026 31 Dec 2025 Recently made aware and under investigation - 1 All known buildings assessed; over 95% of Pre-tender preparation on-going 4 4 developments tendered Live tender process - 3 We are on site or have completed 79% of Sub
Slide 11: Disciplined investment to support future growth
Disciplined investment to support future growth £m Operating Increase cash inflow in WIP £71m net land utilisation, including: Working 197 (213) capital, PX £134m of new land and other commitments, and; movements (exc. land) £(212)m land utilised including land sales Decrease in 117 (91) land cr
Slide 12: Capital allocation to drive value
Capital allocation to drive value The Group generates return on capital greater than its cost of capital providing opportunity to drive value by reinvesting for growth Strong balance sheet Maintain strong balance sheet through the cycle and low leverage Prioritise building safety remediation I
Slide 13: Financial outlook
Financial outlook Continued growth; completions expected to be at upper end of guidance 2025 2026 Guidance assumes market conditions remain New home completions 11,905 c.12,500 stable Net finance cost £26.5m £35-45m Margin recovery continues to be impacted by In line with market embedded inflati
Slide 14: Growth Today; A Stronger Platform for Tomorrow – Dean Finch
GROWTH TODAY; A STRONGER PLATFORM FOR TOMORROW Dean Finch Group Chief Executive
Slide 15: Delivering growth now and positioning for future growth
Delivering growth now and positioning for future growth Value drivers H1 2026 delivery Future growth Completions +13%; growing Supporting market share growth & operating High-quality land bank & growing market share; 273 average leverage: planning success & good pipeline outlets outlets visibility;
Slide 16: Growing outlets and strengthening pipeline
Growing outlets and strengthening pipeline Driving growth from strong planning performance Disciplined land investment - Attractive land opportunities pursued Growing our outlet base through land - Cost focus and improved payment terms investment and enhanced planning - New land commitments of £13
Slide 17: Three brands strengthen returns
Three brands strengthen returns More routes to market, better land use and enhance resilience Complementary brands Growing market share Benefits Completions grew across all three brands Market share gains: Core growth more routes to more markets engine; efficient to build; +7% +26% +22% affordable t
Slide 18: Growth while high standards maintained
Growth while high standards maintained Quality and service are embedded Sustained customer service: - Five-star HBF for the fifth year in a row CQR score - Persimmon Homes and Charles Church Trustpilot both ‘Excellent’ 92.9% - Dec 2021: PH rated ‘Average’; CC rated ‘Poor’ 71.0% Sustained improve
Slide 19: Driving industry-leading build cost efficiency
Driving industry-leading build cost efficiency Leveraging innovation and deeper vertical integration Increased use of factories’ product, crucial to volume growth and margin resilience: Phoenix Asset Management analysis - Brickworks: deliveries up 13%; new production line expected in 2027 - Tilewo
Slide 20: Self help overcoming market challenges
Self help overcoming market challenges Disciplined actions support long-term value creation Market challenge Self-help response Build cost c.£40-50m headwind from Middle East conflict over next 18 months. Actions to mitigate at least half of 2027 impact inflation identified, with programme on-going.
Slide 21: Current trading and outlook
Current trading and outlook Total forward order book remains strong Current total forward order book Total forward order book up 3% (including completions post 30 June) Units ASP Revenue 2 August 2026 8,200 £233,341 £1,913m Private sales including bulk up in first 5 weeks of H2: - Sales rate per
Slide 22: A strong framework for medium-term value creation
A strong framework for medium-term value creation Underpinned by disciplined self-help and growth Current pressures VALUE-CREATION Embedded Industry cost Affordability FRAMEWORK inflation in land bank inflation constraints 1 300+ outlets Medium-term strategic drivers Outlet growth platform Strong an
Slide 23: Appendices
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Slide 24: Appendices
APPENDICES 1. Underlying trading performance 2. Underlying trading per plot 3. Trading performance – Brand 4. Completions mix 5. Balance sheet – key items 6. Cash flow – movement in net (debt)/cash 7. Forward order book 24 Half Year Results 2026
Slide 25: Underlying trading performance
APPENDIX 1 Underlying trading performance H1 2026 H1 2025 New housing Total % of revenue Total % of revenue Revenue £1,482.8m £1,308.0m Cost of sales: land cost £(174.5)m (11.8)% £(155.6)m (11.9)% build and other direct costs £(1,041.3)m (70.2)% £(890.0)m (68.0)% Total cost of sales £(1,215.8)m (82.
Slide 26: Underlying trading per plot
APPENDIX 2 Underlying trading per plot New housing per plot H1 2026 H1 2025 Change H1 2026 H1 2025 Change Revenue £285,752 £284,047 +0.6% 100.0% 100.0% Land costs £(33,630) £(33,800) (0.5)% (11.8)% (11.9)% +10bps Build and other direct costs £(200,666) £(193,274) +3.8% (70.2)% (68.0)% (220)bps Gross
Slide 27: Trading performance - Brand
APPENDIX 3 Trading performance - Brand New housing H1 2026 H1 2025 Change New housing H1 2026 H1 2025 Change No. No. £m £m Units Persimmon 3,706 3,543 +5% Gross Persimmon 194.6 202.4 (4)% Charles Church 555 444 +25% Profit Charles Church 46.7 43.3 +8% Partnerships 928 618 +50% Total 5,189 4,605 +13%
Slide 28: Completions mix
APPENDIX 4 Completions mix H1 2026 H1 2025 Change Open Open Open market Westbury Total market Westbury Total market Westbury Total No. No. No. No. No. No. % % % Persimmon 3,158 548 3,706 Persimmon 2,957 586 3,543 Persimmon +7% (6)% +5% Charles Church 555 - 555 Charles Church 440 4 444 Charles Church
Slide 29: Balance sheet – key items
APPENDIX 5 Balance sheet – key items Jun 2026 Jun 2025 Change Dec 2025 Work in progress £1,846.7m £1,694.7m +£152.0m £1,634.0m Land £2,527.6m £2,289.2m +£238.4m £2,592.0m Land creditors £(497.3)m £(401.1)m £(96.2)m £(623.4)m Part exchange £167.6m £163.8m +£3.8m £198.8m Legacy buildings provision £(2
Slide 30: Cash flow – movement in net (debt)/cash
APPENDIX 6 Cash flow – movement in net (debt)/cash £m H1 2026 H1 2025 Operating cash generated (before working capital movements) 196.6 182.9 Movement in working capital: Decrease / (increase) in gross land 70.6 (23.0) Decrease in land creditors (132.1) (26.6) Net land movement (61.5) (49.6) Increas
Slide 31: Forward order book
APPENDIX 7 Forward order book 30 June 2026 30 June 2025 Variance Forward order book Units ASP Revenue Units ASP Revenue Units ASP Revenue Private 3,374 £303,660 £1,024m 3,338 £291,514 £973m +1.1% +4.2% +5.3% Housing Association 3,701 £156,102 £578m 3,667 £158,816 £582m +0.9% (1.7)% (0.8)% Total 7,07
Slide 32: Disclaimer
Disclaimer Important Notice Some of the information in this document may contain projections or other forward-looking statements regarding future events or the future financial performance of Persimmon Plc and its subsidiaries (the Group). You can identify forward-looking statements by the terms suc