Alfabs Australia Ltd. · ASX:AAL
Alfabs Australia — Investor Day (June 2026)
39 slides from Alfabs Australia's investor day presentation, Jun 11, 2026
Slide 1: Investor Day – 11 June 2026 and Acquisition Update
Alfabs Australia Limited – ASX Announcement 11 June 2026 Investor Day – 11 June 2026 Alfabs Australia Limited (ASX: AAL) (Alfabs or the Company) is holding an Investor Day at the Company’s Kurri Kurri facility in the Hunter Valley, New South Wales, today. The Investor Day will be hosted by Managing
Slide 2: For further information, please contact / About Alfabs
For further information, please contact: Clayton Freeman (Company Secretary) (02) 4936 5000 About Alfabs Alfabs (ASX: AAL) is a market-leading diversified group of companies that primarily operates across two divisions in Australia – Mining and Engineering. Proudly led by the founding Torrance famil
Slide 3: Investor Update June 2026
ALFABS A U S T R A L I A Investor Update June 2026 Alfabs Australia Limited 11 June 2026
Slide 4: Important Notice and Disclaimer
Important Notice and Disclaimer A L F A B S AUSTRALIA This presentation, any information contained within it and any information supplied in connection with the presentation (the Presentation) has been prepared by Alfabs Australia Limited ACN 674 455 442 (Alfabs or Company) and contains general back
Slide 5: Important Notice and Disclaimer (continued)
Important Notice and Disclaimer (continued) A L F A B S AUSTRALIA Financial Information The financial information contained in this Presentation is unaudited unless otherwise stated. Recipients are cautioned therefore to not place any reliance on the financial information. Forward Looking Statements
Slide 6: Welcome & Introduction
01 Welcome & Introduction Matt Torrance | Managing Director & CEO A L F A B S AUSTRALIA
Slide 7: Everyone home safe. Every shift.
A L F A B S AUSTRALIA SAFETY SHARE Everyone home safe. Every shift. Before the numbers, a moment on what matters most. Mining and heavy fabrication are unforgiving environments, and the people working in them are the reason this business exists. OUR PEOPLE OUR PERFORMANCE OUR COMMITMENT The authorit
Slide 8: Supporting the Local Community
Supporting the Local Community A L F A B S AUSTRALIA Two community partnerships — backing the next generation and rescue services the region relies on. C L O N TA R F F O U N D AT I O N W E S T PA C R E S C U E H E L I C O P T E R 12,500 1,100 25 $656k Students in program Year 12 on track Years of p
Slide 9: Agenda
Agenda A L F A B S AUSTRALIA 01 Alfabs Introduction 04 Capital Management Strategy Company Overview, History & Leadership Team Free Cash Flow (FCF) | Capital Allocation Framework | Shareholder Returns 02 Strategic Update 05 Market Thematics Growth Opportunities and Strategic Evolution Coal Demand |
Slide 10: Alfabs History
Alfabs History A L F A B S AUSTRALIA 40+ years of Hunter Valley heritage — four decades under Torrance family stewardship. 1950s 1986 2000s 2007–15 2020–23 2024 Founded Torrance Family Acquires Mining Equipment Vertical Integration Scale & Diversification ASX Listing Established as Alfabs Paul Torra
Slide 11: Key Messages
Key Messages A L F A B S AUSTRALIA What we want investors to take away today. • The underlying business fundamentals remain strong. • Focused on delivering 2x - 3x improvement in Free Cash Flow (FCF). • Maximum shareholder value will be created through reinvestment in the business. The Company is re
Slide 12: Mining Services
Mining Services A L F A B S AUSTRALIA Equipment hire for underground coal mining · ~50% of revenue WHAT WE DO MINING SERVICES — UNDERGROUND COAL EQUIPMENT HIRE Primary • Equipment hire for underground coal mining • Long-term site relationships with major producers • Strong recurring revenue with hig
Slide 13: Mining Services
Mining Services AL FAB S AUSTRALIA Equipment hire for underground coal mining · ~50% of revenue W H AT W E D O Mining Services — Underground Coal Equipment Hire Primary Workshop Value Creation • Equipment hire for underground coal mining Acquired shells overhauled into reliable, long-life hire asset
Slide 14: Engineering and Fabrication
Engineering and Fabrication AL FAB S AUSTRALIA Heavy structural fabrication & infrastructure services W H AT W E D O Workshops Primary • Heavy structural steel fabrication for rail, bridges & infrastructure • On-site installation & pre-assembly services • Capital light Protective Coatings Secondary
Slide 15: Central Station Case Study
Engineering and Fabrication AL FAB S AUSTRALIA Central Station Case Study Heavy structural steel fabrication & on-site installation · Central Station, Sydney Alfabs Australia Limited | Investor Update | June 2026
Slide 16: Asset Remediation and Logistics
Asset Remediation and Logistics AL FAB S AUSTRALIA Heavy structural fabrication & infrastructure services · ~50% of revenue Asset Remediation Logistics Alfabs Australia Limited | Investor Update | June 2026
Slide 17: Leadership Team
Leadership Team A L F A B S AUSTRALIA Founder-led management team with deep operational and financial expertise. EXECUTIVE LEADERSHIP Matthew Torrance Peter White Chief Executive Officer & Director Chief Financial Officer & Director 30+ years at Alfabs. Started as apprentice boilermaker in 1980s. Re
Slide 18: Strategy: Growth Opportunities
Strategy: Growth Opportunities A L F A B S AUSTRALIA A broad suite of growth options are available. Organic Growth Bolt-On Acquisitions Strategic M&A • Opportunistic equipment fleet expansion – Shell conversions (aligned to demand) • Targeted acquisitions of complementary service • Major projects e.
Slide 19: Shell Program
Shell Program A L F A B S AUSTRALIA Represents incremental growth option with attractive returns, when the market requires it. Utilises the strategic workshop assets. Shell Program — cheaper rebuilds, better margins, workshop capability as the platform The Shell Program rebuilds mining fleet at a me
Slide 20: Infrastructure Growth: Positioned, But Pipeline Yet to Materialise
Infrastructure Growth: Positioned, But Pipeline Yet to Materialise A L F A B S AUSTRALIA Near-term softness through FY27 | Recovery weighted to FY28 | Olympics credentials in place. Infrastructure — Headwinds to Navigate Alfabs is navigating a near-term softening in the infrastructure pipeline, with
Slide 21: Workshop Resizing
Workshop Resizing A L F A B S AUSTRALIA Aligning capacity with expected demand to deliver ~$5m(pre-tax) of annual cash uplift. Right-sizing the workshop footprint — ASX announcement, 10 April 2026 Following completion of the Malabar build-out, capacity has been realigned to current and anticipated d
Slide 22: Kurri Kurri – Main Mining Premises
Kurri Kurri – Main Mining Premises A L F A B S AUSTRALIA Mining division property footprint. Existing facilities capable of 3x – 5x increase in workshop capacity. ~$5m Pre-tax cash flow uplift, FY27 Alfabs Australia Limited | Investor Update | June 2026
Slide 23: M&A Process
M&A Process A L F A B S AUSTRALIA Disciplined M&A process ensures we do not pursue a “growth for growth's sake” strategy. The M&A funnel — from universe to shareholder value We assess many targets, but few will meet our investment criteria (strategic, risk, returns etc.), with most expected to be fi
Slide 24: Capital Management Strategy
04 Capital Management Strategy Peter White | CFO A L F A B S AUSTRALIA
Slide 25: CFO Key Messages
CFO Key Messages A L F A B S AUSTRALIA Refocusing the financial story for the next phase of value creation. Disciplined growth is the most value-accretive pathway for shareholders. Focusing on cash generation and capital allocation is how we will deliver it. 01 02 03 Managing the Business to Cash Di
Slide 26: Free Cash Flow (FCF)
Free Cash Flow (FCF) A L F A B S AUSTRALIA Alfabs Free Cash Flow Definition EBITDA − Interest − Income Tax − Working Capital Operating FCF from cash flow statement less Maintenance capital Split out maintenance from growth capex e q u al s FCF Cash generated by the business after taxes, interest, wo
Slide 27: Alfabs – EBITDA to FCF Conversion
Alfabs – EBITDA to FCF Conversion A L F A B S AUSTRALIA Focused on increasing FCF by 2x – 3x by 2028. The turnaround and the pathway forward have already begun. FCF generation & EBITDA conversion FY25 bridge: EBITDA → Reported FCF $m | blue = actual, grey = ambition $m | cash flow statement, FY25 30
Slide 28: Cash Improvement Plan
Cash Improvement Plan A L F A B S AUSTRALIA Pathway to improved FCF generation is designed and key levers already pulled. Focus remains on executing the plan. REDUCED WORKSHOP CAPACITY FY ANNUALISED COST-OUT TARGET CASH IMPROVEMENT PLAN FY27 ~$5m ~$3m ~$8m whilst maintaining optionality vs $2m origi
Slide 29: How Revenue Converts to Cash (FCF)
How Revenue Converts to Cash (FCF) A L F A B S AUSTRALIA Our economic model: from top-line to free cash flow. Revenue Drivers Capital Structure • Mining: daily hire rates × equipment utilisation • Engineering: contract value × project completion % • Debt / Interest Cost Structure • Tax ~30% • Fixed:
Slide 30: What Actually Drives Earnings and Returns on Capital
What Actually Drives Earnings and Returns on Capital A L F A B S AUSTRALIA Key levers that drive earnings and returns on capital. 01 Mining 02 Engineering Primary: Equipment utilisation — currently >80%.¹ Primary: Fabrication capacity utilisation — ~60,000 hours installed2. Job margin highly sensiti
Slide 31: Capital Allocation Framework
Capital Allocation Framework A L F A B S AUSTRALIA Maximum shareholder value will be created through reinvestment in the business, the earnings growth it drives, and the re-rating that follows. $ → Investment ↻$ 1 Growth Investment (Disciplined and within debt limits) Where hurdle rates are exceeded
Slide 32: Capital Allocation: Investment Hurdle Rates
Capital Allocation: Investment Hurdle Rates A L F A B S AUSTRALIA Returns must meet disciplined hurdle rates and protect shareholder value. Our Principle We will only deploy capital where returns meet or exceed our hurdle rates. Applicable for all discretionary capital. Project CAPEX M&A and Bolt-On
Slide 33: Balance Sheet Restructure
Balance Sheet Restructure A L F A B S AUSTRALIA Phase 1 of refinancing nearing completion; focused on de-leveraging to unlock shareholder returns. N et Deb t Target Focu s Facility Restru ctu r e 1.5x–2x Flexibility 1H FY27 target completion for Phase Two Key Messages: • Net debt held flat during th
Slide 34: Alfabs Investment Proposition
Alfabs Investment Proposition A L F A B S AUSTRALIA Six foundations underpinning long-term shareholder value and share price. Foundations are in place to drive long-term FCF growth and shareholder returns Hire business is a highly cash-generative business with assets under construction still to be d
Slide 35: Pathway to Dividend Reinstatement
Pathway to Dividend Reinstatement A L F A B S AUSTRALIA Clear milestones and timeline. Cash Buffer Established and Phase 1 Facility Restructure Nearing Completion ✓ ON TRACK ✓ Minimum liquidity buffer in place to protect operations through restructuring period. Cost Savings Program + Workshop Resizi
Slide 36: Market Thematics
05 Market Thematics Coal & Customer Footprint A L F A B S AUSTRALIA
Slide 37: Market Thematics: Global Coal Consumption Remains Resilient
Market Thematics: Global Coal Consumption Remains Resilient A L F A B S AUSTRALIA Record highs in 2024–2025 | Plateau through 2030 — China, India & ASEAN driving structural resilience 2024 Global Demand (record) 2025 Forecast (new record) Met Coal 2025 Consumption 8,805 Mt ↑1.5% on 2023 8,845 Mt ↑0.
Slide 38: Customer Footprint Embedded in East Coast Underground Coal
Customer Footprint Embedded in East Coast Underground Coal A L F A B S AUSTRALIA Three workshops embedded in the NSW and QLD coal regions — serving the East Coast underground coal market. THE CUSTOMER BASE 26 9 1 Mtpa+ underground underground + each — minimum mines surface mines production scale DEM
Slide 39: Thank you.
A L F A B S A U S T R A L I A · I N V E S T O R U P D A T E · J U N E 2 0 2 6 Thank you. INVESTOR RELATIONS Rebecca Culbertson Clayton Freeman alfabs.com.au EMAIL investorrelations@alfabs.com.au PHONE 02 4936 5000 Alfabs Australia Limited | Investor Update | June 2026