Enx Group Limited · JSE:ENX
Enx — H1 2026 Earnings Presentation
31 slides from Enx's earnings presentation, Feb 28, 2026
Slide 1: Results Presentation for the half year ended 28 February 2026
RESULTS PRESENTATION for the half year ended 28 February 2026
Slide 2: Contents
CONTENTS 01. Who we are 02. Our purpose and who we represent 03. Highlights and key focus areas 04. Financial performance 05. Our business units 06. Disposal group held for sale 07. Financial review 08. Outlook 2
Slide 3: Who we are
Vi og a =" BE: = = a ae > > fins MAUM(i 01 WHO WE ARE
Slide 4: Who we are
WHO WE ARE enX CHEMICALS ¹ DISTRIBUTION OF CHEMICALS: HEADCOUNT Polyolefins, styrenics, rubber and speciality chemicals 49 2025: 48 enX POWER DISTRIBUTION, RENTAL HEADCOUNT AND VALUE-ADDED SERVICES FOR: Diesel power solutions, renewables and diesel engines 176 2025: 195 Following recent disposals, t
Slide 5: Our purpose and who we represent
02 OUR PURPOSE AND WHO WE REPRESENT
Slide 6: Our purpose
OUR PURPOSE During the reporting period, enX Group operated as a manufacturer and distributor of quality branded power equipment and a distributor of quality branded chemicals • Quality brands and products - Chemicals - Power • Stock on-the-ground • Nationwide distribution • Technical expertise • Lo
Slide 7: Who we represent
WHO WE REPRESENT BRAND RECOGNITION MARKETING EXPERTISE RESEARCH AND DEVELOPMENT GROWTH OPPORTUNITIES SUPPORTED WITH CONFIDENCE BY GLOBAL TOP 10 AND LEADING INTERNATIONAL BRANDS CHEMICALS ¹ POWER ¹ Shown as a disposal group held for sale and discontinued operation with effect from 30 June 2025. After
Slide 8: Highlights and key focus areas
03 HIGHLIGHTS AND KEY FOCUS AREAS
Slide 9: Summary – at a glance
SUMMARY – AT A GLANCE Disposals • Fleet segment and Lubricants segment disposed of • Chemicals segment transaction closed on 30 April 2026 subsequent to half year - R295 million received in transaction proceeds - R107 million associated escrow security plus accrued interest expected to be released i
Slide 10: Highlights and key focus areas
HIGHLIGHTS AND KEY FOCUS AREAS Trading Performance for the half year ended 28 February 2026 compared to prior period • Overall performance reflects a smaller operational base following disposals and weaker demand in the Power segment • Revenue declined in the Power segment due to lower activity leve
Slide 11: Highlights and key focus areas
HIGHLIGHTS AND KEY FOCUS AREAS Divestment of the Chemicals segment and classification as a disposal group held for sale and discontinued operation • enX Trading concluded a Subscription and Options Agreement (“S&O Agreement”) with Trichem SA, announced on SENS on 31 March 2025 • The First Subscripti
Slide 12: Highlights and key focus areas
HIGHLIGHTS AND KEY FOCUS AREAS Dedicated financing facilities across all business units not guaranteed by the Group • WAG: - Trading facility of R250 million • New Way Power: - Indirect facility of R86 million • Covenants met across all finance facilities for the reporting period • Effective managem
Slide 13: Highlights and key focus areas
HIGHLIGHTS AND KEY FOCUS AREAS Significant reduction in overhead costs • Dedicated IT and Treasury functions have been transitioned into the respective business units • Service Centre costs have reduced significantly through the continued downsizing of the administration function and staff, includin
Slide 14: Financial performance
04 FINANCIAL PERFORMANCE
Slide 15: Financial performance
FINANCIAL PERFORMANCE • Revenue from continuing operations of R122 million • Net finance income was R13 million (2025: R29 million) driven by lower (2025: R194 million), down 37% average cash balances following return of capital to shareholders with - Lower demand in the Power segment due to lower r
Slide 16: Our business units
05 OUR BUSINESS UNITS
Slide 17: Business unit analysis – New Way Power
BUSINESS UNIT ANALYSIS – NEW WAY POWER Rm H1 F2026 H1 F2025 H1 F2026 Revenue 122 194 NEW WAY POWER EBIT (3) 8 • Revenue ↓ 37% - Lower activity on large, project-based data centre contracts, which PBT (1) 9 are inherently lumpy and dependent on project timing - Decline in underlying activity was more
Slide 18: Disposal group held for sale
06 DISPOSAL GROUP HELD FOR SALE
Slide 19: Strategic journey timeline
STRATEGIC JOURNEY TIMELINE Timeline Transaction Rm Status F2024 November 2023 Special distribution arising from sale of EIE SA of R1 per share R182 Complete June 2024 Eqstra disposal R1 096 Complete¹ July 2024 Special distribution arising from sale of Eqstra of R5 per share R912 Complete F2025 Annou
Slide 20: Disposal group held for sale – current year
DISPOSAL GROUP HELD FOR SALE – CURRENT YEAR Chemicals – disposal group held for sale in terms of IFRS 5 • West African International (‘’WAI’’) classified as a disposal group held for sale and discontinued operation in terms of IFRS 5 with effect from 30 June 2025 • Subscription and Options Agreement
Slide 21: Business unit analysis – WAG
BUSINESS UNIT ANALYSIS – WAG CHEMICALS H1 F2026 Rm H1 F2026 H1 F2025 Revenue 801 939 WAG • Classified as a disposal group held for sale and discontinued operation EBIT ³ 21 53 with effect from 30 June 2025. Transaction closed on 30 April 2026. • Revenue ↓ 15% PBT ³ 25 48 - Volumes remained broadly i
Slide 22: Disposal group held for sale – prior year
DISPOSAL GROUP HELD FOR SALE – PRIOR YEAR Lubricants – disposal group held for sale in terms of IFRS 5 • SENS announcement dated 13 December 2024 announcing disposal of the Lubricants segment as a single, indivisible transaction to Abakhulu Investments • SENS announcement dated 11 March 2025 that th
Slide 23: Financial review
07 FINANCIAL REVIEW
Slide 24: Summarised statement of profit and loss – continuing operations
FINANCIAL REVIEW SUMMARISED STATEMENT OF PROFIT AND LOSS CONTINUING OPERATIONS Restated ¹ Rm H1 F2026 H1 F2025 Revenue 122 194 Cost of sales (85) (140) Gross Profit 37 54 Operating expenses (56) (66) Operating Loss (19) (12) Net financing income 13 28 Profit before tax (6) 16 Taxation - 2 Profit aft
Slide 25: Condensed statement of financial position
FINANCIAL REVIEW CONDENSED STATEMENT OF FINANCIAL POSITION February Held for February August Held for August Rm 2026 ¹ sale 2026 ² 2025 ¹ sale 2025 ² Inventories 512 (353) 159 548 (375) 173 Trade and other receivables 341 (289) 52 492 (336) 156 PPE and right-of-use assets 142 (17) 125 41 (5) 36 Rest
Slide 26: Condensed statement of cash flows
FINANCIAL REVIEW CONDENSED STATEMENT OF CASH FLOWS Rm H1 F2026 H1 F2025 Cash generated from operations before working capital movements 16 107 Working capital movements ¹ 130 (23) Cash generated from operations 146 84 Net interest and taxation paid 5 (28) Net cash inflows from operating activities 1
Slide 27: Gross and net interest-bearing borrowings
FINANCIAL REVIEW GROSS AND NET INTEREST-BEARING BORROWINGS Funding facilities (Rm) ³ Facility size (Utilised)/cash Liquidity Trading Businesses 250 - 250 Trade finance - WAG 250 - 250 Cash held at a subsidiary level ² ³ - 247 247 Cash held - Unrestricted ¹ - 98 98 Unrestricted net cash: 28 February
Slide 28: Covenant levels
FINANCIAL REVIEW COVENANT LEVELS ¹ WAG covenants Level February 2026 Equity levels >R205m R464m ² 1. All covenants met throughout the reporting period 2. Net asset value reflected before adjustments relating to carrying value relative to the transaction value in terms of IFRS 5 and the R107m Trichem
Slide 29: Outlook
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Slide 30: Outlook
OUTLOOK • Power segment continues to operate in a subdued demand environment • While there are opportunities, particularly in the data centre environment, reduced levels of loadshedding have Power dampened demand for traditional generator sales and rental activity • Management continues to actively
Slide 31: Disclaimer
DISCLAIMER Certain statements in this presentation regarding enX’s business operations may constitute “forward-looking statements”. All statements other than statements of historical fact are included in this presentation, including, without limitation, those regarding the financial position, busine