Slide 1: Final results for the year ended 31 March 2026
Final results for the year ended 31 March 2026 Specialist equipment. Technical expertise. A trusted partner. Alice Woodwark, Chief Executive Keith Winstanley, Chief Financial Officer 10 June 2026
Slide 2: FY26 Vp highlights
FY26 Vp highlights Strategic Successful completion of restructuring programme in Brandon Hire Station Digital roadmap 'price-quote' tool live and delivering improved hire margins Medium-term strategic plan taking shape, including early wins Financial Markets Performance reflects challenges in the UK
Slide 3: Key progress updates: Brandon Hire Station restructure
Key progress updates: Brandon Hire Station restructure Restructure completed on time and in full Vp is now exclusively a B2B specialist trade business: no B2C, no cash transactions Restructure increases the Group's weighting towards specialist infrastructure sectors Brandon Hire Station future growt
Slide 4: Key progress updates: Water sector
Key progress updates: Water sector What we do AMP background Vp's comprehensive water sector offer AMP8 (2025-2030) spend programme of £104bn The criticality and time-sensitive nature of water Supporting critical water infrastructure upgrades investment projects plays to Vp's specialist strengths. E
Slide 5: Key progress updates: Water sector
Key progress updates: Water sector Vp active AMP8 water regions Water revenues: Activity increasing entering AMP8 year 2 Groundforce ESS April 2026 vs. April 2025 April 2026 vs. lowest point in LTM* TPA -9% ESS +32% -17% Groundforce +11% -56% TPA +35% • Groundforce: 27 AMP8 shoring projects in desig
Slide 6: Financial review
Financial review
Slide 7: Resilient financial performance
Resilient financial performance FY26 (£m) FY25 (£m) • Resilient performance facing into end UK Revenue 287.1 317.6 market headwinds International Revenue 71.2 62.4 • Challenging UK end markets, Group Revenue 358.3 380.0 particularly General Construction Adjusted EBITDA 78.0 90.6 • Solid growth in In
Slide 8: Exceptional items
Exceptional items FY26 (£m) • Brandon Hire Station restructuring Brandon Hire CPH Other Total costs classified as exceptional and Station mostly relate to property and employment related costs Property related costs 10.9 - - 10.9 Employment related costs 7.8 - 0.8 8.6 • Contingent remuneration expen
Slide 9: Balance sheet positions us well for future growth
Balance sheet positions us well for future growth FY26 (£m) FY25 (£m) • Strong balance sheet positions the Hire fleet 235.3 240.9 Group well for the future Other fixed assets 28.5 30.2 Intangible assets 27.0 29.4 • Continued investment in hire fleet at appropriate levels Assets held for resale 5.8 -
Slide 10: Net debt well managed through disciplined capital allocation
Net debt well managed through disciplined capital allocation • Net debt of £148.9m - increase of £10.4m • Increase includes exceptional cash outflows of £11.0m • Strong operating cash flows although reduced vs. prior year (2025: £82.0m) • Continued investment in asset base and returns to shareholder
Slide 11: Comfortable headroom and successful refinancing
Comfortable headroom and successful refinancing FY26 (£m) FY25 (£m) • Operating with headroom for Private placement - Jan 2027 65.0 65.0 growth and well within financial covenants Private placement - Apr 2028 28.0 28.0 RCF - matures Nov 2028* 90.0 90.0 • Leverage below stated target of 2x Total comm
Slide 12: Capex investment focused on areas of greatest opportunity
Capex investment focused on areas of greatest opportunity FY26 (£m) FY25 (£m) • Fleet investment reduced following Fleet investment 51.6 65.4 increased investment in prior years Other capex 8.3 8.2 • Investment to drive growth and Disposal proceeds (25.2) (23.7) increase weighting towards higher- Ne
Slide 13: Strong growth in International segment
Strong growth in International segment FY 26 (£m) FY25 (£m) • International segment profit has Revenue increased 30% to £12.6m driven by full year impact of prior year UK 287.1 317.6 Irish acquisition International 71.2 62.4 Total 358.3 380.0 • In Ireland: strong economic Adjusted operating profit b
Slide 14: Historical strong returns and uninterrupted dividend record
Historical strong returns and uninterrupted dividend record Historic ROACE 16.0% 14.5% 14.5% 14.5% 14.5% • Dip in returns driven by difficult 14.4% 14.2% 14.0% FY26 trading conditions 12.0% 11.2% 10.0% 9.2% 8.0% • 30+ year uninterrupted dividend 6.0% track record 4.0% 2.0% • Recommended flat final d
Slide 15: Operational review
plc Operational review -—
Slide 16: Our markets
Our markets Infrastructure Construction Housebuilding Energy Rail, Water, Specialist, Transmission, Other General 37% Revenue XX% 40% Revenue Revenue XX% 7% Revenue Revenue 8% Revenue Large multi-year investment Specialist Construction Market is subdued but stable Challenging macroeconomic programme
Slide 17: Infrastructure – Mixed FY26 performance, strong prospects
Infrastructure – Mixed FY26 performance, strong prospects Infrastructure Market opportunity What we do FY26 performance Rail Transmission • Transmission: Reasonable performance from the Temporary Roadway • • Site CP7access and groundworks (2024-2029) commitment of business both in the UK and Germany
Slide 18: Construction – Specialist remains strong; General following the market
Construction – Specialist remains strong; General following the market Construction Market opportunity FY26 performance What we do Specialist Construction • Specialist Construction: double digit growth year-on-year, including • Expert fit-out tooling and access redevelopment projects in London, phar
Slide 19: Satisfactory performance in Housebuilding and Energy
Satisfactory performance in Housebuilding and Energy Housebuilding What we do Energy What we do • •Provide materials Oil price remainshandling supportive • • Provide Oil people, plant and equipment to with • price remains Revenue supportive increase of 52% compared solutions (telehandlers, small pla
Slide 20: Strategic update
VP. Strategic update
Slide 21: Strategic foundation: Who we are and what makes us stand out
Strategic foundation: Who we are and what makes us stand out Fleet specialist Activity specialist Vp is an expert equipment partner, with businesses UK focused on clear fleet and activity specialisms. This allows us to stand out from our International peers for our value, service and critical knowle
Slide 22: Strategic opportunity to build on a strong legacy
Strategic opportunity to build on a strong legacy Vp’s development journey as a leading hire company Springboard for growth and margin Investment in Vp Group strength 2026 Expertise-led proposition strengthens our ‘economic moat’ Strong, technically expert 2023-26 Market-led customer targeting and d
Slide 23: Diving deeper: Understanding the Vp performance trajectory
Diving deeper: Understanding the Vp performance trajectory Over the past 3 years Vp has addressed Brandon Hire Station underperformance and established foundations for growth Underperformance addressed Building a strong future foundation Brandon Hire Station Healthy core Acquisitions Transformative
Slide 24: 5 strategic pillars shape the Vp medium-term plan
5 strategic pillars shape the Vp medium-term plan Delivering growth Driving operational excellence 1 Specialist expertise that 2 A service-first trusted 3 Strength of the Group, 4 Performance you can delivers partner power of our divisions rely on Organic and inorganic growth Active strategic accoun
Slide 25: Medium-term strategy delivery: Early wins
Medium-term strategy delivery: Early wins Delivering growth Driving operational excellence 1 Specialist expertise that 2 A service-first trusted 3 Strength of a group, 4 Performance you can delivers partner power of our divisions rely on MEP ‘super depot’ in Dublin, Group-managed Strategic Price-quo
Slide 26: Summary and outlook
Summary and outlook Resilient performance against a tough macro-economic environment Restructuring of Brandon Hire Station complete Increased profits in International segment Good outlook in infrastructure/specialist markets including increased Q1 activity in AMP8-related water sector FY27 performan
Slide 27: Q&A
Q&A
Slide 28: Appendices
VP. Appendices
Slide 29: Capital allocation strategy
Capital allocation strategy Net debt / EBITDA less than 2x • Capital investment in rental fleet Organic growth • Short term investment in strategic transformation projects • Progressive dividend with 2x target cover Ordinary dividends • Full-year dividend split c.1/3 interim, 2/3 final • Investment
Slide 30: People Strategy - progress
People Strategy - progess Teams that work together A great place to work Bringing teams together across disciplines Embedding our reward framework and career to maximise best practice and take development pathways to provide clear lines of learnings from one another sight for colleagues Acting on th
Slide 31: Digital roadmap
Digital roadmap We’re progressing our digital roadmap in order to simplify our business and drive growth SERVICE & OPERATIONS TRANSFORMATION • Strong progress made, Unified Service CRM now in place • Business process harmonisation is streamlining operations and improving customer experience COMMERCI
Slide 32: ESG
ESG We’re fully committed to operating responsibly, sustainably and ethically • Received an engagement score of 72% in our group wide colleague survey, action planning in place and initiatives being executed. People – investing in • Initiated UK-wide roadshows to engage colleagues, highlight availab
Slide 33: Our business
Our business FLEET SPECIALIST ACTIVITY SPECIALIST UK Forks MEP Hire One of the UK's leading specialist hirers of telescopic handlers, the products and The UK's largest provider of mechanical and electrical press fittings and low-level services are used to improve safety and productivity on construct
Slide 34: Disclaimer
Disclaimer This presentation has been prepared by or on behalf of Vp plc (‘Vp’). The information set out in this presentation is not intended to form the basis of any contract. By attending (whether in person, by telephone or webcast) this presentation or by reading the presentation slides, you agre
Slide 35: Leader in equipment rental
Leader in equipment rental