Emeco Holdings Limited · ASX:EHL
Emeco — Investor Day (December 2025)
49 slides from Emeco's investor day presentation, Dec 9, 2025
Slide 1: The Force Behind Emeco
THE FORCE BEHIND EMECO OUR ASSET MANAGEMENT & MAINTENANCE SERVICES STORY Investor Day: December 9, 2025 Co-hosted by: Jarden & Wallabi Group
Slide 2: Emeco at a Glance
EMECO AT A GLANCE Largest Australian mining equipment rental provider, complemented by value-added services including high quality maintenance, equipment rebuild, fleet optimisation technology, technical and engineering services 7 Workshops across 950+ Employees Fleet size of ~850 Australia $785m FY
Slide 3: Flexible Equipment Fleet
FLEXIBLE EQUIPMENT FLEET Emeco’s fleet is strategically configured to suit all Australian mining regions and commodities Open-cut fleet Type Count Underground fleet Type Count Trucks 378 LHD Loaders 39 Trucks 25 Dozers 169 Jumbo Drills & Loaders 78 17 Cable Bolters Graders 48 Production Drills 6 Exc
Slide 4: Emeco – More Than Equipment Hire
EMECO – MORE THAN EQUIPMENT HIRE EMECO: MUCH MORE THAN EQUIPMENT HIRE ▪ We are as much a maintenance business as we are a rental business ▪ 46% of our revenue comes from maintenance and workshop services ▪ This generates - ~$50M in Op. EBITDA1 and ~$40M in Op. EBIT1 ▪ Maintenance services have drive
Slide 5: Our Maintenance Service Business
OUR MAINTENANCE SERVICE BUSINESS Emeco is as much a maintenance services business as it is an equipment rental business. Over $400 million (46%) of our gross revenue and ~$50 million of EBITDA comes from low-capital maintenance and workshop services. Operating EBITDA ($m)1 Operating EBIT ($m)1 Gross
Slide 6: Maintenance Services Growth
MAINTENANCE SERVICES GROWTH Workshop & maintenance revenue has almost doubled since FY22, whilst EBITDA has grown by more than 5x and EBIT by more than 10x Revenue ($m)¹ Operating Operating EBIT ($m)¹ EBITDA ($m)¹ 80 410 373 321 46 49 222 42 39 34 29 8 4 0 FY22A FY23A FY24A FY25A 1. All figures refe
Slide 7: Our Maintenance Earnings by Segment
OUR MAINTENANCE EARNINGS BY SEGMENT Emeco generates significant levels of low-capital maintenance and workshop services through both its Rental and Force businesses FY25 Gross Revenue $M Equipment Maint. Force Corporate Consol. Group Rental Rental Elimins Revenue1 479.2 136.2 273.5 - (103.5) 785.4 O
Slide 8: Our Maintenance Service Offering
OUR MAINTENANCE SERVICE OFFERING Emeco offers an extensive range of workshop and maintenance services in addition to equipment rental Equipment Rental Maintenance & Workshop Services Support 850 pieces of mining ~750 highly-trained, specialised 200 professional staff equipment workshop and maintenan
Slide 9: The Force Behind Force
THE FORCE BEHIND FORCE Emeco employs ~ 950 people. 77% of our employees provide workshop and maintenance services, supported by specialised asset management, planning and reliability experts. Our distribution centres provide 24/7 parts and logistics support. MAINTENANCE CAPABILITIES OUR WORKFORCE ▪
Slide 10: Avenues to Grow Our Low Capital Business
AVENUES TO GROW OUR LOW CAPITAL BUSINESS There are multiple avenues to grow our low capital-intensity maintenance services offering organically and via M&A MINING FLEET SERVICES ▪ Low risk - grow our existing core capabilities ▪ Accelerates entry into streams we are developing organically Client-own
Slide 11: Workshop & Maintenance Services
Workshop & Maintenance Services EMECOGROUP.COM 11
Slide 12: Workshop Overview
WORKSHOP OVERVIEW Perth Kalgoorlie Pt. Hedland Mackay Mechanical Rebuild HD Mechanical R&M HD Component Rebuild Ancillary Mechanical Rebuild Ancillary R&M Dyno Tuning & Collaboration Heavy Fabrication Boilermaker & Certified Welding Line Boring Paint & Blast Field Service Design, Drafting & Engineer
Slide 13: Mechanical Rebuilds
MECHANICAL REBUILDS Our workshop specialists perform repairs and full rebuild services – stripping machines back to chassis or tailoring repairs to our customers’ needs https://www.youtube.com/watch?v=saWZ_3lsnCY EMECOGROUP.COM 13
Slide 14: Fabrication
FABRICATION Our team of fabrication specialists can strip back implements and attachments, identify wear and torsion issues so our customers can make better repair v replacement decisions. Our blast and paint facilities are some of the largest in the country servicing mining. Services include: ▪ Hea
Slide 15: Nationwide Field Service
NATIONWIDE FIELD SERVICE With over 150 people across 70 projects, our field service crews ensure our customers’ up-time is maximised. We have the people and asset management and condition monitoring services to keep equipment working for our customers. • 150 field support crew • 110 service vehicles
Slide 16: Distribution Centres
DISTRIBUTION CENTRES We keep equipment working ▪ 7-day operations across a national network: providing rapid response for both scheduled and unplanned maintenance events. ▪ Consolidate and distribute ~10,900 parts/month to support continuous operations. ▪ Reducing equipment downtime and freight cost
Slide 17: Asset Management & Technology Solutions
Asset Management & Technology Solutions EMECOGROUP.COM 17
Slide 18: Emeco: A Complete Fleet Partner
EMECO: A COMPLETE FLEET PARTNER Whether it’s our customers’ fleet or ours — Emeco delivers rental, maintenance, rebuilds, and end-to-end fleet management Emeco is more than just a rental company — we deliver integrated fleet support. Everything we’ve built for our fleet is available to support our c
Slide 19: Asset Management
Asset Management EMECOGROUP.COM 19
Slide 20: Asset Management
ASSET MANAGEMENT Our asset support team is crucial to the success of all Emeco operations and supports the maintenance activities across all our sites. ▪ Assets team – provides guidance on asset strategy, when assets should undergo more extensive repair works, including off site repairs. ▪ Reliabili
Slide 21: Asset Management – Services
ASSET MANAGEMENT – SERVICES A data driven approach to Asset Management leveraging content experts to enable our execution team Lifecycle Planning SME Supported Monitoring Reliability Control ▪ Long-term planning flows into short-term & ▪ Oil analysis & live telemetry interpreted by ▪ Performance rev
Slide 22: Asset Management: Technology Enhancing Asset Management
ASSET MANAGEMENT Technology Enhancing Asset Management Emeco has a data driven approach to Asset Management. This approach relies on people and experience — but skilled expertise is in high demand. At Emeco, we use technology to enhance our asset management and ensure we fully leverage the skilled e
Slide 23: Condition Monitoring
Condition Monitoring EMECOGROUP.COM 23
Slide 24: Condition Monitoring Maturity Curve
CONDITION MONITORING Maturity Curve Reactive Planned Preventive Predictive Prescriptive Maintenance Maintenance Maintenance STRATEGIC VALUE Fix it AFTER it fails Fix it BEFORE it fails Measure it & fix it Anticipate future Full automation conditions Visual Inspections Live Data Continuous Monitoring
Slide 25: Condition Monitoring
CONDITION MONITORING At Emeco, condition monitoring isn’t about data collection – it’s about using insights to keep your fleet running. We combine multiple tools to detect early signs of risk and drive proactive maintenance. Our condition monitoring processes are highly scalable, delivering reliable
Slide 26: Condition Monitoring – Oil Samples
CONDITION MONITORING – OIL SAMPLES Oil Analysis: Protecting High-Value Components, Driving Scalable Reliability Why It Matters Samples taken from machine • Mining equipment contains components worth hundreds of thousands of dollars — engines, transmissions, etc. • These parts operate in harsh condit
Slide 27: Condition Monitoring – Live Data
CONDITION MONITORING – LIVE DATA Live Equipment Data: Real-Time Protection for High-Cost Assets Why It Matters Live data from equipment sensors • Mining equipment is packed with sensors — but OEM's provide limited access to this information. • Detecting subtle patterns across multiple systems (e.g.
Slide 28: Condition Monitoring – Machine Learning
CONDITION MONITORING – MACHINE LEARNING Maximising Uptime Through Machine Learning ▪ Emeco deploy unsupervised learning models to detect early signs of abnormal equipment behaviour Information from the unsupervised models is combined across sensor networks. to self-label normal and abnormal windows
Slide 29: Operational Monitoring
OPERATIONAL MONITORING What We Do - Turning Data into Equipment Protection Daily Review of Equipment Alerts: Mechanical and operator-induced alerts monitored every 24 hours; high-risk events escalated to clients for action. Operator Event Monitoring: Detect abuse events like: ▪ Gear shifts under loa
Slide 30: Case Study | Condition Monitoring
Case Study | CONDITION MONITORING Live Data Indicators Intervention Actions • Sustained high exhaust gas temperatures (EGT) Priority 3 - ENGINE – High Exhaust Gas Temperatures. Model: • Temperature patterns indicating turbocharger performance 793D degradation. 1. Prepare machine for testing. 2. Chec
Slide 31: Case Study | Condition Monitoring
Case Study | CONDITION MONITORING Live Data Indicators Intervention Actions Model: • Exhaust gas temperature (EGT) delta between cylinders. Priority 3 - ENGINE – High EGT Difference. • Cylinder performance imbalance identified through cut-out 789C testing. 1. Prepare machine for testing. 2. Check wi
Slide 32: Case Study | AI Oversight on Field Investigation
Case Study | AI OVERSIGHT ON FIELD INVESTIGATION Better Oversight: Real Technology Solving Real Problems Task: • A key driver to ensure our monitoring is effective is ensuring that maintenance tasks are completed in full and that any follow-up work or findings are clearly captured. Con-Mon WO • Hist
Slide 33: Component Planning
Component Planning EMECOGROUP.COM 33
Slide 34: Component Planning & Inventory
COMPONENT PLANNING & INVENTORY Inventory Strategy: Maximising Return on Capital, Availability and Responsiveness Emeco rebuilds major components in-house via Force workshops, prioritising cost effectiveness and quality control to support our rental fleet. Analytics-driven forecasting (planned + unpl
Slide 35: Component Planning & Inventory
COMPONENT PLANNING & INVENTORY Emeco’s integrated inventory model delivers higher availability, lower cost, and rapid response — turning working capital into a long-term strategic advantage. Optimised Inventory Strategy: Data-Driven rebuilds for Capital Efficiency Data Simulation Prioritised Rebuild
Slide 36: Operational Performance & Reliability
Operational Performance & Reliability EMECOGROUP.COM 36
Slide 37: Reliability
RELIABILITY Delivering highly reliable midlife equipment, using a blend of engineering fundamentals and advanced analytics to drive superior performance and reduce lifecycle cost. What Reliability Means at Emeco • Maintenance Discipline: Focus on service quality, PM accuracy, and defect elimination
Slide 38: Reliability – Project Playbook
RELIABILITY – PROJECT PLAYBOOK The Emeco Project Playbook provides our Operations Team a robust Work Management Framework to deliver maintenance excellence ▪ Standardised methodology for every project: locks in how Emeco plans, schedules, executes work - each Operations team delivers maintenance the
Slide 39: Digital Work Management
DIGITAL WORK MANAGEMENT Using digital tools to drive execution accuracy, consistency and quality Embracing Industry 4.0, Emeco is completely removing paper and digitising Progress Tracking all front-end maintenance activities from the Field through to our rebuild facilities ▪ Digitising all field an
Slide 40: Reliability – Oversight
RELIABILITY – OVERSIGHT The Emeco Reliability Engineering team safeguards asset health and availability, maintaining every machine to OEM and Emeco standards so clients consistently hit production targets. ▪ Live, data-driven dashboards surface fleet- and unit-level trends daily and weekly, giving o
Slide 41: Case Study | AI RCA Deep Research Tool
Case Study | AI RCA Deep Research Tool Empowering Reliability Engineers with AI Agents Task: • Reliability or Root Cause investigations often start with gathering fragmented data from multiple systems Assist RE’s in • Analysis may be limited to timeframe, review missing clues in macro trends or revi
Slide 42: Competitive Advantage & Evolution of Strategy
Competitive Advantage & Evolution of Strategy EMECOGROUP.COM 42
Slide 43: Our Maintenance Service Advantage
OUR MAINTENANCE SERVICE ADVANTAGE ▪ Our scale means we can invest in the best technologies and asset management capability ▪ Our asset management capability and equipment monitoring technologies provide our customers with up-time certainty ▪ We guarantee our equipment availability and support this w
Slide 44: Evolution of Strategy
EVOLUTION OF STRATEGY Emeco’s strategy continues to evolve to deliver better returns to our shareholdersv 01 Grow Low 02 03 Capital Earnings Optimise Asset Targeting 20% ROC (Organic Growth) Base ▪ Field Services ▪ Maintenance Services – client fleet ▪ Fabrication ▪ Asset Management/Condition Monito
Slide 45: Our Scale and Competitive Advantage
OUR SCALE AND COMPETITIVE ADVANTAGE Our mid-life rebuild model and onsite service capability, combined with our asset management and condition monitoring technologies are our competitive advantage. Delivered through our national footprint of workshops and field service units, Emeco provides industry
Slide 46: Our Competitive Advantage
OUR COMPETITIVE ADVANTAGE Emeco has developed a broad customer value proposition that is not rivalled by any competitor Competitive Asset Advantage Customer and Strategy Scale Offering Geography Disciplined fleet Diversified customer configuration, with assets base of over 200 selected for long-term
Slide 47: Thank You
Thank You Investor enquiries: Theresa Mlikota Chief Financial Officer Investor.relations@emecogroup.com emecogroup.com EMECOGROUP.COM
Slide 48: Appendix 1: IFRS Reconciliation
APPENDIX 1: IFRS RECONCILIATION EMECOGROUP.COM 48
Slide 49: Appendix 2: Segment Reconciliation
APPENDIX 2: SEGMENT RECONCILIATION FY25 Reconciliation of Displayed Workshop & Maintenance Data to Statutory Segment and Operating Results Data RENTAL FORCE (pre-elims) GROUP Internal External Total Maintenance Total Total Gross Equipment Total Workshop Workshop Workshop & I/Coy Total $M Services Fo