Infragreen Group Limited · ASX:IFN
Infragreen — ASX SMIDcaps Conference 2026
19 slides from Infragreen's conference presentation, Sep 23, 2026
Slide 1: ASX SMIDcaps Presentation
For personal use only ASX SMIDcaps Presentation 23 September 2026
Slide 2: Vision
For personal use only Vision To be the leading force in building and operating sustainable mid-market infrastructure businesses throughout Australia and New Zealand. 2
Slide 3: Invested in building a sustainable future
Invested in building a sustainable future For personal use only Infragreen’s diversified asset base participates in two growth Infragreen owns, operates and grows sectors being recycling and energy mid-market businesses with significant untapped value in growing sectors Recycling and Waste Clean Ene
Slide 4: Business overview
Business overview Recycling & Waste Recovery Clean Energy & Energy Transition For personal use only Regulated Waste Processing Metals Recycling Solar Energy Generation Peaking Power and Recovery FY26 Revenue of $84.8m FY26 Revenue of $84.4m FY26 Revenue of $71.0m FY26 Revenue of $12.9m FY26 EBITDA o
Slide 5: Pure Environmental (24.55% ownership)
Pure Environmental (24.55% ownership) Revenue ($m) Pure Environmental operates 10 resource recovery sites across Western Australia and 82 85 Queensland, playing a critical role in sustainable waste management and contributing For personal use only 59 to the circular economy. The business operates ac
Slide 6: Minemet Recycling Group (60.00% ownership)
Minemet Recycling Group (60.00% ownership) Revenue ($m) 78 84 Minemet is a vertically integrated metal recycling operator with capabilities across the For personal use only 60 CAGR entire scrap metal value chain. 18.8% 47 51 36 FY24 FY25 FY26 FY26 Results Infragreen Share ($m) Total ($m) • Revenue –
Slide 7: Energybuild (54.78% ownership)
Energybuild (54.78% ownership) Revenue ($m) Energybuild specialises in integrated renewable energy solutions for newbuild 71 CAGR residential housing and is the #1 installer of new build solar systems in Australia. For personal use only 85.4% 35 21 39 FY26 Results 11 19 FY24 FY25 FY26 • Revenue – $7
Slide 8: Merredin Energy (49.99% ownership)
Merredin Energy (49.99% ownership) Revenue ($m) Merredin Energy operates an 82 MW diesel fuelled open cycle gas turbine power 13 12 13 For personal use only station in Western Australia, serving as a peaking plant to supply electricity during CAGR periods of high demand. 5.1% 6 7 6 FY24 FY25 FY26 FY
Slide 9: Strategically located, difficult-to-replicate infrastructure
Strategically located, difficult-to-replicate infrastructure Highlights Geographic overview For personal use only Wide-ranging geographic presence in both Pure Environmental major cities and rural communities Minemet Energybuild Associated regulatory approvals in each Karratha Mackay Merredin Energy
Slide 10: Value-add "partnership" approach
Value-add “partnership” approach For personal use only Strategic insights Scaling operations Risk management Capital solutions • Refine go to market strategy • Corporate development • Thorough risk review during • Long-term source of capital and implement action plan support (e.g. bolt-on M&A) inves
Slide 11: FY26 Highlights
FY26 Highlights • FY26 underlying revenue 26% higher than FY25 Underlying Revenue1 Underlying EBITDA3 For personal use only • FY26 underlying EBITDA 29% higher than FY25 $116.8m $23.9m • Positive outlook – record 4th quarter with underlying EBITDA Up 26% on pcp2 Up 29% on pcp of $7.6m • Record divid
Slide 12: Financial overview – Underlying Infragreen share
Financial overview – Underlying Infragreen share Underlying revenue (m)1 Underlying EBITDA (m)1,2 For personal use only CAGR: CAGR: 32% 28% 117 23.9 93 6 18.6 4.6 67 7 39 14.6 19 4.3 6.9 6 3.6 2.1 11 1.5 47 51 7.3 6.9 36 8.4 14 20 21 7.7 8.2 4.0 (2.9) (2.8) (2.7) FY24 FY25 FY26 FY24 FY25 FY26 Pure E
Slide 13: Underlying net free cash flow of $11.7m
Underlying net free cash flow of $11.7m (compared to $8.5m in FY25) 30 June 26 Pure Merredin Minemet Energybuild Infragreen Total • Underlying net free cash flow of $11.7m for ($ million) Environmental Energy For personal use only FY26 (FY25: $8.5m) Operating cash flow 18.9 9.3 8.0 6.9 (3.1) • FY26
Slide 14: Underlying net debt of $14.1m
Underlying net debt (pre AASB 16)1 of $14.1m (compared to $19.6m at 30 June 2025) For personal use only 30 June 26 Pure Merredin Minemet Energybuild Infragreen Total ($ million) Environmental2 Energy Cash 8.2 1.5 4.9 1.2 8.7 Debt3 (31.3) (10.0) (8.3) (21.4) - Underlying net debt to FY26 Net debt (10
Slide 15: Growth pillars
Growth pillars Strong growth through four key pillars For personal use only organic EBITDA growth Organic growth 24% in FY26 of the Businesses (pre Infragreen expenses) Portfolio optimisation, prioritising capital Increased exposure to existing businesses allocation to deliver growth and scale acros
Slide 16: Performance of Infragreen's Key Markets
Performance of Infragreen’s Key Markets For personal use only Key markets FY26 FY24 FY25 FY26 Outlook Outlook EBITDA1 FY27 FY28+ Liquid and regulated $8.2m waste treatment Scrap metal recycling $6.9m New build solar and $6.9m batteries Reserve power $4.6m generation – WA At or above expected Close t
Slide 17: Shareholder communication and progress milestones
Shareholder communication and progress milestones 2026 Milestones Future Milestones For personal use only March and April 2026 • Institutional investor outreach program – commenced and ongoing Ongoing • Appoint new investor relations advisor – appointed • New bolt-on acquisitions for the businesses
Slide 18: Conclusion and Outlook
Conclusion and Outlook For personal use only Strong Performance underpinned Strong Investment Fundamentals by • Uncorrelated real assets underpinning a stable income • Strong growth in earnings and cash stream, in a period of domestic and global uncertainty flow • Strong cash flow profile with histo
Slide 19: Important notice and disclaimer
Important notice and disclaimer The information contained in this Presentation or subsequently provided to the recipient whether orally or in writing by, or on behalf of Infragreen Group Limited (Infragreen or the Company) or any of its directors, officers, employees, agents, representatives and adv