Slide 1: Full-Year 2026 Results presentation
Full-Year 2026 Results presentation 20 August 2026
Slide 2: Disclaimer
Disclaimer The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and must observe such restrictions.
Slide 3: Results highlights
Results highlights Graham Chipchase, CEO All references to growth rates, unless otherwise stated, are at constant FX rates, except for the results of hyperinflationary economies, which are translated at the period end FX rates.
Slide 4: FY26 highlights
FY26 highlights Profit growth and strong Free Cash Flow Investments building resilience and long- in line with revised guidance term value Continuing focus on the customer guiding US recovery plan and focus on delivering best in class +2% +4% service, quality and value Strengthening network resilien
Slide 5: Operating environment
Operating environment Ongoing inflationary pressures, lower underlying consumer demand and short-term operating challenges in the US business FY26 key operating dynamics Brambles’ response Inflation • Labour inflation in all markets, particularly acute in the US due to Cost-to-serve labour availabil
Slide 6: Impacts: US service centre network
US service centre network Convergence of factors leading to repair capacity constraints and operational challenges from 4Q26 Operating dynamics Customer Planned quality initiatives Labour availability Volume uplift Key driversProactive investment in quality initiatives to support of the constraint T
Slide 7: US network: focus on serving customer demand
US network: focus on serving customer demand Short-term actions to restore service levels delivering results Service stabilisation to meet customer demand (4Q26 to 1H27) Strengthen customer relationships (1H27 onwards) Service stabilisation measures in 4Q26 and 1H27 • Additional shifts and overtime
Slide 8: US network: improving resilience
US network: improving resilience Initiatives underway to structurally increase network capacity and resilience Subcontractor network Expanding repair capacity Increasing network resilience • Transition plan for 15 service centres • ~20% increase in capacity by FY28 • Increasing automation including
Slide 9: US network: quality as a source of competitive advantage
US network: quality as a source of competitive advantage Consistency of repair critical to the evolving needs of the industry Repair consistency Durability initiatives Service Centre of the Future • Enhanced quality audits, including • Ongoing timber species optimisation • Programme to develop end-t
Slide 10: Brambles of the Future
Brambles of the Future EFFORTLESS CUSTOMER EXPERIENCE ILLUMINATED SUPPLY NETWORKS Seamless, digitally enabled service that Data-driven insights and innovative customer- simplifies interactions, fosters innovation centric solutions that power smarter, more and deepens customer relationships efficient
Slide 11: Brambles of the Future
Brambles of the Future OPERATIONAL EXCELLENCE REGENERATIVE SUPPLY NETWORKS A leaner and more agile circular model Supply networks that drive positive that sets new standards for efficiency, outcomes for the environment, resilience and customer value at scale communities and economies METRICS NATURE
Slide 12: Serialisation+: progress with Chile rollout and operational testing
Serialisation+: progress with Chile rollout and operational testing Value proven across customer experience and volume growth, further learnings required to inform US rollout decision Serialisation+ scorecard Status Demonstrated success (Chile) Customer Reduced Simplified NPS experience administrati
Slide 13: FY27 outlook
FY27 outlook Operating leverage and strong Free Cash Flow with US repair capacity constraints to be resolved by the end of 1H27 Outlook 2-4%1 2-6%1 US$800m- 50-70% Up to US$950m of Underlying Profit2 US$400m3 Sales revenue Underlying Profit Free Cash Flow Dividend payout On-market share growth growt
Slide 14: Financial overview
Financial overview Joaquin Gil, CFO All references to growth rates, unless otherwise stated, are at constant FX rates, except for the results of hyperinflationary economies, which are translated at the period end FX rates. Due to a change in reporting structure, the European Intermediate Bulk Contai
Slide 15: FY26 financial highlights
FY26 financial highlights Net new wins Price realisation Like-for-like1 Revenue growth driven by new business wins and price realisation +3% +1% (2)% vs. FY25 vs. FY25 vs. FY25 Underlying Profit Underlying Profit margin3 Operating leverage delivered amid US headwinds +4% +0.6pts +11% normalised2 +1.
Slide 16: FY26 results overview
FY26 results Overview US$m FY26 Change vs. FY25 • Underlying Profit +4% including ~US$90m Continuing operations Actual FX Constant FX adverse earnings impact from US repair capacity Sales revenue 7,042.9 6% 2% constraints in 4Q26. Excluding this, Underlying Other income / revenue 16% 15% Profit incr
Slide 17: Short-term Underlying Profit impact of US actions
FY26 short-term Underlying Profit impact of actions to support US customers and restore service levels Underlying Profit (ULP) US$m FY26 Price/volume/mix impact on earnings (25) • Volume: Customer demand in 4Q26 not fully serviced Revenue • Price: Impacted by adverse customer mix FY26 sales revenue
Slide 18: Short-term impacts: FY27 expected Underlying Profit impact
FY27 expected year-on-year Underlying Profit impact of US repair capacity constraints Incremental cost-to-serve increases to be recovered through efficiencies and price from 2H27, resulting in no ongoing impact into FY28 Underlying Profit (ULP) US$m 1H27 2H27 FY27 Price/volume/mix impact on ~(25) ~1
Slide 19: Group sales revenue growth
Group sales revenue growth Net new business momentum and price realisation offsetting lower consumer demand and US pallet availability headwinds Price/mix and volume contribution to growth Price/mix +1% • Price increases to recover input-cost inflation partly offset by sharing efficiency benefits wi
Slide 20: Group Underlying Profit analysis (US$m)
Group Underlying Profit analysis (US$m) Sales contribution and productivity gains driving profit growth even with the impact from US repair capacity constraints Savings of ~US$60m more In line with changes in than offset by: Research and development North America market indices - inflation US$(55)m;
Slide 21: Contribution to change in margin
Strong progress on delivery of Group FY28 margin target Margin improvement +1.9pts vs. FY24, +3.1pts excluding the impact of short-term US repair capacity constraints Group margin expansion: targeting ~3pts+ margin expansion by FY28 vs. FY24 baseline 1 Contribution to change in margin Change in Grou
Slide 22: Asset efficiency
Asset efficiency Sustained benefits from asset efficiency initiatives Pooling capital expenditure to sales ratio1 • Pooling capital expenditure to sales ratio increased 0.6pts1 driven by: – ~0.5pt increase due to 4% increase in the weighted average cost of a new pallet; – ~0.4pt increase due to the
Slide 23: Free Cash Flow before dividends (US$m)
Free Cash Flow before dividends (US$m) Strong cash flow generation sustained, funding reinvestment in the business and capital management initiatives Increased investments in pooling and non-pooling equipment and timing of pallet purchases which increased creditor payments in the period Primarily du
Slide 24: CHEP Americas
CHEP Americas Strong new business growth across the region; profit growth and margins impacted by US repair capacity constraints FY26 Change vs. FY25 • Price realisation +1% driven by Latin US$m Actual FX Constant FX Sales America and Canada +2% • Net new business wins +3% with contract 3,767.1 4% 2
Slide 25: CHEP EMEA
CHEP EMEA Continued net new business momentum; ROCI and margins impacted by short-term supply chain cost headwinds FY26 Change vs. FY25 • Price realisation of +1%, with inflation recovery Sales partly offset by sharing efficiency US$m Actual FX Constant FX +2% improvements with customers Europe 2,1
Slide 26: CHEP Asia-Pacific
CHEP Asia-Pacific Productivity and commercial discipline supporting customer experience and improved returns FY26 Change vs. FY25 • Price realisation +4%, in line with cost-to-serve Sales increases and favourable customer mix US$m Actual FX Constant FX +3% • Net new business wins +2%, driven by cont
Slide 27: Corporate costs
Corporate costs Ongoing progress with overhead cost management initiatives and lower digital costs FY26 Change vs. FY25 • Central transformation costs1 down US$m Actual FX Constant FX US$32.9m comprising: Central transformation – Digital transformation costs of US$73.8m, down (111.6) 30.4 32.9 costs
Slide 28: FY27 outlook considerations
FY27 outlook considerations 2-4% Sales revenue growth expected to be driven by broadly equal contributions from price and volume • Price realisation expected to recover cost-to-serve in all regions except in the US, as short-term cost increases to resolve repair capacity constraints will not be pass
Slide 29: FY27 outlook considerations
FY27 outlook considerations US$800m- • FY27 expected pooling capital expenditure to sales ratio of ~13%-15% (FY26: 12.9%). The change versus FY26 is driven by higher pallet prices and additional pallet purchases to support growth and US$950m US repair capacity constraints in 1H27, partly offset by b
Slide 30: Summary
Summary Earnings growth with Strong contribution from new business wins across margin expansion, amid key markets throughout FY26 challenging operating environment Productivity initiatives delivering margin improvement and supporting investments to strengthen supply chain agility and resilience Sust
Slide 31: Appendix
Appendix n & oO = g (-*)
Slide 32: Sales revenue by region and sector
Appendix 1 Sales revenue by region and sector FY26 sales revenue by region FY26 sales revenue by sector Africa, Middle East, Türkiye Automotive 3.9% Asia 3% 0.6% Storage & Eastern Europe distribution 2% 4.7% General retail Other 1 Latin America 2% 10% 9.4% Packaging 3% USA & ANZ Canada Fast-moving 7
Slide 33: Balance sheet
Appendix 2a Balance sheet June 26 June 25 • Net debt increased by US$352m4 reflecting the impacts of the share buy-back programmes and lease Net debt1 US$2,926m US$2,574m capitalisations, partly offset by strong Free Cash Flow after dividends Average term of committed 3.5 years 4.0 years • Total liq
Slide 34: Credit facilities and debt profile
Appendix 2b Credit facilities and debt profile (US$b at 30 June 2026) 1 Committed Committed Uncommitted Total Maturity Type Debt drawn facilities Headroom facilities Headroom <12 months Bank 0.32 - 0.3 0.4 0.7 1 to 2 years EMTN3 0.6 (0.6) - - - 2 to 3 years - - - - - - 3 to 4 years Bank 1.3 (0.2) 1.
Slide 35: Group sales revenue growth (US$m)
Appendix 3 Group sales revenue growth (US$m) with contributions from all segments 233 45 18 77 7,043 6,810 6,670 +2% FY25 CHEP CHEP CHEP FY26 FX FY26 Americas EMEA Asia-Pacific (Constant FX) (Actual FX) FULL-YEAR 2026 RESULTS PRESENTATION 35
Slide 36: Net plant and transport costs/sales revenue
Appendix 4 Net plant and transport costs/sales revenue Net plant cost/sales revenue Net transport cost/sales revenue (before NA lumber surcharge1) (Net of transport & fuel surcharges) FY26 FY25 FY26 FY25 CHEP Americas2 39.0% 38.6% 20.0% 20.1% CHEP EMEA2 24.3% 23.9% 20.9% 20.5% CHEP Asia-Pacific 32.7
Slide 37: CHEP Americas: Underlying Profit analysis (US$m)
Appendix 5a CHEP Americas: Underlying Profit analysis (US$m) Including: - efficiency savings ~US$60m Including: - inflation US$(51)m - restructuring savings ~US$25m - restructuring costs US$(7)m 25 (20) 0 (22) 1 16 Including: 92 - efficiency savings ~US$27m (90) - inflation US$(27)m 17 Earnings impa
Slide 38: CHEP US sales revenue growth
Appendix 5b CHEP US sales revenue growth (constant FX) Price/mix and volume contribution to growth Price/mix flat • Price increases to recover inflation, offset by +13% sharing efficiencies with customers and customer mix impacts due to repair capacity constraints +11% Volumes +1% • Net new business
Slide 39: CHEP EMEA: Underlying Profit analysis (US$m)
Appendix 5c CHEP EMEA: Underlying Profit analysis (US$m) Including: - efficiency savings ~US$20m - inflation US$(25)m Including: - restructuring savings ~US$7m - restructuring costs US$(7)m (16) 45 (21) 42 (7) 6 (10) Including: 728 - efficiency savings ~US$25m - inflation US$(25)m 689 686 0% FY25 Vo
Slide 40: CHEP EMEA sales revenue growth
Appendix 5d CHEP EMEA sales revenue growth (constant FX) Price/mix and volume contribution to growth +14% Price/mix +1% Reflects contractual pricing to recover inflation partly offset by sharing supply chain efficiencies with customers Net new business wins +2% 14% +7% Primarily driven by Europe pal
Slide 41: CHEP Asia-Pacific: Underlying Profit analysis (US$m)
Appendix 5e CHEP Asia-Pacific: Underlying Profit analysis (US$m) Including: - efficiency savings ~US$5m - inflation US$(6)m Including: - restructuring savings ~US$1m (7) (2) (2) 11 19 7 Including: - efficiency savings ~US$8m - inflation US$(3)m 215 204 189 +8% FY25 Volume, Plant Transport Depreciati
Slide 42: Capital expenditure on Property, Plant and Equipment
Appendix 6 Capital expenditure on Property, Plant and Equipment (accruals basis US$m)1 1,567 • The increase in replacement capital expenditure reflects a higher weighted average capital cost of a new 146 Brambles pallet, together with increased pallet 1,000 replacement volumes primarily driven by re
Slide 43: Regional asset efficiency: Pooling capital expenditure to sales ratio
Appendix 7 Regional asset efficiency: Pooling capital expenditure to sales ratio1 North America2 Latin America EMEA2 23.5% 23.8% 25.6% 24.0% 21.4% 14.0% 14.0% 12.3% 11.8% 11.6% 13.5% 9.6% FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 • FY26 increase reflects capital • FY26 decrease due
Slide 44: IPEP expense
Appendix 8 IPEP expense (Actual FX rates, US$m) Methodology • IPEP expense accounts for uncompensated pallet losses at locations for which there is no customer loss liability • The charge is determined based on annual audits at customer locations which are performed to confirm the existence of pooli
Slide 45: Major currency exchange rates
Appendix 9 1 Major currency exchange rates USD EUR AUD GBP CAD MXN ZAR PLN BRL FY26 1.0000 1.1649 0.6795 1.3407 0.7237 0.0558 0.0594 0.2743 0.1897 Average FY25 1.0000 1.0909 0.6469 1.3001 0.7152 0.0504 0.0553 0.2563 0.1741 30 June 2026 1.0000 1.1427 0.6885 1.3258 0.7037 0.0573 0.0608 0.2667 0.1932 A
Slide 46: FY26 currency mix
Appendix 10 FY26 currency mix (US$m) Total USD EUR AUD GBP CAD MXN ZAR PLN BRL Other1 Sales revenue 7,042.9 2,745.9 1,521.7 496.5 460.6 435.1 447.9 207.8 173.0 99.1 455.3 FY26 share 100% 39% 22% 7% 7% 6% 6% 3% 3% 1% 6% FY25 share 100% 41% 21% 7% 7% 6% 6% 3% 2% 1% 6% Net debt2 2,926 1,093 1,559 238 (
Slide 47: Glossary of terms and measures
Appendix 11a Glossary of terms and measures Except where noted, common terms and measures used in this document are based upon the following definitions: Actual currency/Actual FX Current period results (excluding hyperinflationary economies) translated into US dollars at the applicable actual month
Slide 48: Glossary of terms and measures
Appendix 11b Glossary of terms and measures Except where noted, common terms and measures used in this document are based upon the following definitions: Free Cash Flow Cash flow generated after net capital expenditure, finance costs and tax, but excluding the net cost of acquisitions and proceeds f
Slide 49: Investor and media contacts
Investor and media contacts Investors Media Raluca Chiriacescu Sandra Tang Vice President, Investor Relations Group External Communications Lead +44 7810 658044 +61 404 066 107 raluca.chiriacescu@brambles.com sandra.tang@brambles.com Suk Hee Lee Director, Investor Relations +61 433 343 888 sukhee.le