Acrow Limited · ASX:ACF
Acrow — Investor Presentation (June 2026)
37 slides from Acrow's investor presentation, Jun 18, 2026
Slide 1: Acquisition of Ausgroup & Preston SuperDeck & Fully Underwritten $70M Equity Raising
Acrow Limited (ASX:ACF) 18 June 2026 ACQUISITION OF AUSGROUP & PRESTON SUPERDECK & FULLY UNDERWRITTEN $70M EQUITY RAISING Steven Boland – CEO Andrew Crowther – CFO Raising the Standard in Construction.
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation Future performance This investor presentation (Presentation) is dated 18 June 2026 and has been prepared by Acrow Limited (ASX:ACF) (Acrow or the Company). This Presentation contains certain “forward-looking statements”. The words “anticipate”, “beli
Slide 3: Important Notice and Disclaimer
Financial data IMPORTANT NOTICE AND DISCLAIMER All dollar values contained in this Presentation are in Australian dollars ($A, $ or dollars) unless otherwise stated. Totals may vary slightly due to rounding. Disclaimer Investors should be aware that certain financial data included in this Presentati
Slide 4: Two Highly Complementary Acquisitions and Debt Reduction
TWO HIGHLY COMPLEMENTARY ACQUISITIONS AND DEBT REDUCTION Combined Strengthens Balance Funding Structure EPS Accretive FY27 Guidance Consideration of $54.5m Sheet Fully underwritten $70m Mid single digit pro Revenue and EBITDA $47.79m cash Net debt/EBITDA reduction two-tranche placement forma accreti
Slide 5: Transaction Overview
TRANSACTION OVERVIEW • Acrow has entered into a binding Share Purchase Agreement to acquire 100% of Ausgroup Industrial Services (“AGIS”) and a Business Purchase Agreement for Preston SuperDeck® business (“Preston SuperDeck®”) for a combined enterprise value of $54.5m on a cash-free, debt-free basis
Slide 6: Transaction Overview (cont.)
TRANSACTION OVERVIEW (cont.) • The acquisition and associated transaction costs will be funded through a combination of the following: – $70.0m equity raising via a fully underwritten two-tranche institutional placement at $0.85 per share, representing a 6.6% discount to last close; – $6.75m issuanc
Slide 7: Ausgroup Industrial Services (AGIS)
AUSGROUP INDUSTRIAL SERVICES (AGIS) 7
Slide 8: Overview of AGIS
OVERVIEW OF AGIS GEOGRAPHIC FOOTPRINT • Ausgroup Industrial Services (“AGIS”) is a family owned, Queensland-based integrated industrial services provider supporting mining, ports, energy, mills and the heavy industry. • AGIS focuses on solutions-based contracting, safety, productivity and innovation
Slide 9: AGIS Strategic Rationale
AGIS STRATEGIC RATIONALE A key pillar of Acrow’s strategy is achieving profitable organic and acquisitive 1 Aligned with Acrow’s Growth Strategy growth within the Industrial Access division. The acquisition of AGIS represents a highly complementary addition, supporting this strategic objective. Stre
Slide 10: Preston SuperDeck
i PRESTON SUPERDECK® ey } ff i
Slide 11: Overview of Preston SuperDeck
OVERVIEW OF PRESTON SUPERDECK® GEOGRAPHIC FOOTPRINT • Preston SuperDeck® is recognised as the market leader for retractable loading platforms in Australia. This includes: – Specialists in retractable loading platforms; – Offering a developed and proprietary product line, refined and perfected since
Slide 12: Preston SuperDeck Strategic Rationale
PRESTON SUPERDECK® STRATEGIC RATIONALE Loading platforms represent one of the few remaining product gaps in Acrow’s Complements Acrow’s Integrated integrated construction services platform, strengthening the “one-stop-shop” 1 Construction Services Offering value proposition. Enhances cross-sell oppo
Slide 13: Indicative Pro Forma Business Mix
INDICATIVE PRO FORMA BUSINESS MIX An acquisition of AGIS and Preston SuperDeck® will enhance Acrow’s integrated offering and further consolidate its market leading position FY26 Pro Forma Construction Services Construction Construction 22% Services Services 35% Revenue by 40% Capability Industrial I
Slide 14: Successful Track Record in Integrating Acquisitions
SUCCESSFUL TRACK RECORD IN INTEGRATING ACQUISITIONS MI ABOVE ACQUISITION NATFORM UNI-SPAN BENCHMARK BRAND SCAFFOLDING SCAFFOLD DATE ACQUIRED AUG 2018 NOV 2019 NOV 2023 FEB 2024 MAY 2025 MAY 2025 CIVIL/ INDUSTRIAL INDUSTRIAL INDUSTRIAL INDUSTRIAL SEGMENT SCREENS INDUSTRIAL ACCESS ACCESS ACCESS ACCESS
Slide 15: Strengthened Balance Sheet
STRENGTHENED BALANCE SHEET Capital raising proceeds will be used to strengthen Acrow’s balance sheet and to focus on growth opportunities Pro forma net debt ($m) $19.5m of the $70.0m equity raising will be applied toward debt 165 repayment and providing balance sheet flexibility. 19 146 Balance sh
Slide 16: Revised Guidance
REVISED GUIDANCE FY27 FY26 FY27 FY27 %CHG METRIC ACQUISITIONS NEW REVISED PREVIOUS REVISED ON FY27 (Underlying) CONTRIBUTIONS GUIDANCE GUIDANCE GUIDANCE GUIDANCE (Previous1) (Rev. + Acq.) Revenue $330m - $335m $335m - $350m $355m - $375m $50m $405m - $425m up 21% EBITDA $80m - $81m $88m - $98m $88m
Slide 17: Equity Raising and Funding Update
EQUITY RAISING AND FUNDING UPDATE 17
Slide 18: Equity Raising Offer Summary
EQUITY RAISING OFFER SUMMARY • Fully underwritten two-tranche institutional placement to raise approximately $70.0 million via the issue of 82.4 million new shares (“Placement”), equating to ~26% of existing Acrow shares on issue, comprising: − Tranche 1: An unconditional placement of approximately
Slide 19: Sources and Uses and Capital Structure
SOURCES AND USES AND CAPITAL STRUCTURE Sources and Uses Capital Structure ACF ACF Sources of Funds1 $m % Capital Structure Pre-Transaction Pro-Forma Proceeds from Placement (before costs) 70.0 91.2 Shares on Issue 312.2m 402.4m Market Capitalisation4 $265.4m $342.1m Scrip Consideration2 6.8 8.8 Net
Slide 20: Equity Raising Timetable
EQUITY RAISING TIMETABLE Event Date Two-Tranche Placement Trading Halt Wednesday, 17 June 2026 Announcement of the Placement and SPP Thursday, 18 June 2026 Placement Bookbuild Thursday, 18 June 2026 Announcement of Placement Completion and Trading Halt Lifted Friday, 19 June 2026 Settlement of New S
Slide 21: Acrow Business Overview and Track Record
ACROW BUSINESS OVERVIEW AND TRACK RECORD 21
Slide 22: Acrow Overview
ACROW OVERVIEW COMPETITIVE ADVANTAGES Acrow is a leading provider of SECTORS SERVICED smart integrated construction systems. Civil infrastructure ENGINEERING QUALITY EXPERTISE & OF OUR SOLUTIONS PEOPLE Industrial, Mining, Energy, Utilities, Defence & Marine PRODUCT GEOGRAPHIC Commercial & High Rise
Slide 23: Acrow Overview
ACROW OVERVIEW National leader in smart, integrated construction and industrial access systems Core capabilities: Formwork, Falsework, Shoring, Screen Solutions, Scaffolding, Industrial Access & Jumpform Expanded geographic reach and product offering via organic growth - complemented by strategic ac
Slide 24: National Footprint
NATIONAL FOOTPRINT 25 LOCATIONS QLD • Townsville • Mackay (incl. ATEC Training Mackay) • Gladstone AUSTRALIA • Geebung (incl. ATEC Training Brisbane) • Brisbane QLD • Beenleigh – Morrison Lane, Spanns Road • Sydney NSW & City Road • Melbourne VIC • Yatala • Adelaide SA • Perth WA NSW • Hunter Valley
Slide 25: Strategic Principles
STRATEGIC PRINCIPLES A clear, concise strategy that underpins the continued profitable growth of the business. Diversification of revenue streams across our core product and service offerings. Placing an equal importance on both the Construction & Industrial Access Markets. Maintain a disciplined ap
Slide 26: Financial Track Record
FINANCIAL TRACK RECORD 1 REVENUE($m) EBITDA ($m) ROE (%) 71.0 14.8 17.0 87.0 19.5 14.5 7% CAGR 105.7 25% CAGR 24.3 33% CAGR 23.0 148.3 36.3 168.5 215.3 74.6 265.1 80.2 EARNINGS PER SHARE (¢) DIVIDENDS PER SHARE (¢) 4.4 2.0 4.0 1.8 4.0 17% CAGR 20% CAGR 2.0 7.2 2.7 11.6 4.4 11.5 5.9 11.2 5.9 26 1.All
Slide 27: Key Risks and Offer Jurisdictions
KEY RISKS AND OFFER JURISDICTIONS 27 Pre-assembled Franklin Adit for Metro Tunnel, VIC
Slide 28: Key Risks
KEY RISKS This section discusses some of the key risks associated with any investment in Acrow, which may affect the value of Acrow shares. The risks set out below are not necessarily listed in order of importance and do not constitute an exhaustive list of all risks involved with an investment in A
Slide 29: Key Risks (cont.)
KEY RISKS (cont.) Acrow has entered into an agreement (Placement Management and Underwriting Agreement) with Morgans Corporate Limited (ACN 010 539 607) and Shaw and Partners Limited (ACN 003 221 583) (Joint Lead Managers) who have agreed to underwrite the placement component of the equity raising d
Slide 30: Key Risks (cont.)
KEY RISKS (cont.) Increased competition could result in price reductions, under-utilisation of equipment and personnel, reduced operating margins and loss of market share. Despite Acrow’s ability to compete effectively in the markets in which it operates, any of these occurrences may adversely affec
Slide 31: Key Risks (cont.)
KEY RISKS (cont.) The material used to manufacture Acrow’s equipment, in particular steel and timber, is primarily sourced from overseas. This exposes Acrow to fluctuations in Exchange rates exchange rates, which is beyond the Company’s control, and there is a risk that the cost of manufacturing Acr
Slide 32: Key Risks (cont.)
KEY RISKS (cont.) This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside
Slide 33: Key Risks (cont.)
KEY RISKS (cont.) This document has been given to you on the basis that you are an “institutional investor” or an “accredited investor” (as such terms are defined in the SFA). If you are not such an investor, please return this document immediately. You may not forward or circulate this document to
Slide 34: Underwriting Agreement
UNDERWRITING AGREEMENT Acrow has entered into the Placement Management and Underwriting Agreement with the Joint Lead Managers, pursuant to which the Joint Lead Managers are acting as joint lead managers, arrangers, bookrunners and underwriters of the placement component of the equity raising detail
Slide 35: Underwriting Agreement (cont.)
UNDERWRITING AGREEMENT (cont.) • Either the issued capital of Acrow is altered or Acrow disposes or attempts to dispose of a substantial part of its business or property, other than as permitted by the Placement Management and Underwriting Agreement or disclosed in the materials lodged with ASX on t
Slide 36: Thank You
THANK YOU 36 Tarong Cooling Towers
Slide 37: Contact
CONTACT ACROW HEAD OFFICE 2A Mavis Street Revesby NSW 2212 1300 138 362 Steven Boland Andrew Crowther info@acrow.com.au CEO CFO COO www.acrow.com.au Investor enquiries & presentation questions Raising the Standard in Construction. investors@acrow.com.au 37