Slide 1: Strong platform. Expanding horizons.
Strong platform. Expanding horizons. 1
Slide 2: A fundamentally stronger business
A fundamentally stronger business ... with significant growth opportunities 2
Slide 3: Rich Cashin, Chief Financial Officer
Rich Cashin Chief Financial Officer 3
Slide 4: Revenue, ROIC, cash & leverage goals
Revenue, ROIC, cash & leverage goals ...achieved two years ahead of target 4
Slide 5: FY25 highlights
FY25 highlights ▲ ▲ ...improvements across all metrics 5
Slide 6: Avon Protection
Avon Protection ▲ ...near term demand opportunity complementing long term programmes 6
Slide 7: Team Wendy
Team Wendy ▲ ...focus on sustaining Q4 operational improvements 7
Slide 8: Group operating profit bridge
Group operating profit bridge ...operational gearing drives improved profitability 8
Slide 9: Cash flow
Cash flow ...high receivables have already unwound in Q1 9
Slide 10: Balance sheet
Balance sheet ...net debt remains below 1x leverage 10
Slide 11: Capital allocation framework
Capital allocation framework 1 2 3 4 ...expanded to include value-accretive acquisitions 11
Slide 12: Transformation: incremental projects for incremental benefits
Transformation: incremental projects for incremental benefits ...FY26 will mark the end of transformation related exceptional costs 12
Slide 13: FY26 guidance
FY26 guidance ...firmly on track to meet or exceed all targets in FY26 13
Slide 14: Jos Sclater, Chief Executive
Jos Sclater Chief Executive 14
Slide 15: Our STAR strategy is delivering
Our STAR strategy is delivering Strengthen System launched Mostly complete; two projects Lots of opportunity remaining in FY26 for further …Kaizen is forever improvement New development Increasing investment programmes in R&D, sales, marketing, people and M&A if the new product conditions are right
Slide 16: A scalable Business Improvement System
A scalable Business Improvement System ...driving growth and generating wealth 16
Slide 17: Building people capability
Building people capability ...creating a learning culture 17
Slide 18: Continuing to improve our operating metrics
Continuing to improve our operating metrics >60% >5x 35% ...with plenty of scope for further improvement 18
Slide 19: Team Wendy DoW production increase this summer
Team Wendy DoW production increase this summer ...still a lot to do to meet target production rates 19
Slide 20: We learned a lot over the past six months
We learned a lot over the past six months 20 ... more to do but from a stronger base
Slide 21: Avon Protection driving daily focus
Avon Protection driving daily focus ...through ambitious operational targets 21
Slide 22: Every site moved from batch to flow manufacturing
Every site moved from batch to flow manufacturing …improving operating metrics and creating capacity for growth 22
Slide 23: Last year of transformational costs
Last year of transformational costs ...with benefits starting from FY26 23
Slide 24: Transformation . . . to growth
Transformation . . . ...to growth 24
Slide 25: 63% increase in Avon Protection order book
63% increase in Avon Protection order book ...weighted opportunity pipeline up over 80% 25
Slide 26: New market: low burden, tactical modular respirator
New market: low burden, tactical modular respirator • • • • ...c.$150m annual accessible market 26
Slide 27: Innovation in integrated CBRN protection
Innovation in integrated CBRN protection ...with potential to accelerate our medium-term growth 27
Slide 28: Defend & expand in core CBRN market
Defend & expand in core CBRN market ...new products driving growth 28
Slide 29: Investing in products of the future
Investing in products of the future ...a long-term growth strategy 29
Slide 30: Team Wendy: improved delivery reducing backlog
Team Wendy: improved delivery reducing backlog ...exciting pipeline both in and outside the US 30
Slide 31: Innovation in commercial helmets
Innovation in commercial helmets • • ...world leading performance and comfort 31
Slide 32: Investing in helmets of the future
Investing in helmets of the future ...our most ambitious development pipeline yet 32
Slide 33: Progress against medium-term goals
Progress against medium-term goals ...all met early with operating margin in range in FY26 33
Slide 34: Risk and opportunity update
Risk and opportunity update • • • • • ...sustaining operational improvements in Cleveland a key focus 34
Slide 35: Avon continues to deliver
Avon continues to deliver ... with more opportunity ahead 35
Slide 36: Appendix
Appendix 36
Slide 37: We are the world leader in mission-critical protection
We are the world leader in mission-critical protection $168.8m $145.1m 450+ 500+ 3 2 ...for armies, navies, law enforcement & first responders 37
Slide 38: A strong portfolio of long-term contracts
A strong portfolio of long-term contracts 38
Slide 39: A best-in-class product portfolio
A best-in-class product portfolio 1 2 3 4 5 ...underpinned by strong recurring revenue streams 39
Slide 40: Leading commercial & international opportunity
Leading commercial & international opportunity ...with significant growth opportunities 40
Slide 41: Safety Quality Delivery
Strengthen through CI Safety Quality Delivery Inventory Productivity ...driving improved operating metrics and happy employees 41
Slide 42: Glossary
AVON TECHNOLOGIES PLC Glossary 3P Production preparation process - a lean manufacturing methodology aimed Kanban Scheduling system for lean manufacturing at improving production efficiency KPIs Key Performance Indicators 5S when shine, standardise and sustain - a workplace organisation LTP Lightweig
Slide 43: Technical guidance
AVON TECHNOLOGIES PLC Technical guidance FY24 FY25 FY26 guidance $m $m sm Research and development expenditure 114 135 15-18 Of which cost of customer funded projects 1.6 15 23 Group expenditure 9.8 12.0 13-16 Capitalised development costs 15 1-3 Expensed research & development costs (excluding amor
Slide 44: Reported to adjusted
AVON TECHNOLOGIES PLC Reported to adjusted FY25 FY24 $m $m Statutory operating profit 19.2 10.7 Amortisation of acquired intangibles 57 6.2 Impairment of goodwill and other non-current assets : 17 Transformation and restructuring costs 115 10.8 Acceleration of depreciation and amortisation — transfo
Slide 45: Avon Protection Portfolio
Avon Protection Portfolio 45
Slide 46: Team Wendy Portfolio
Team Wendy Portfolio TEAM WENDY® TEAM WENDY EPIC TEAM WENDY® TEAM WENDY® TEAM WENDY® TEAM WENDY® RIFLETECH BALLISTIC RANGE & ACC. EXFIL® BALLISTIC & ACC. EXFIL® BUMP & ACC. SAR & ACC. AFTERMARKET PAD SYSTEMS TEAM TEAM TEAM TEAM WENDY® TEAM WENDY® TEAM WENDY® TEAM WENDY® TEAM WENDY® TEAM WENDY® TEAM