Emeco Holdings Limited · ASX:EHL
Emeco — FY2026 Earnings Presentation
39 slides from Emeco's earnings presentation, Aug 20, 2026
Slide 1: FY26 Results Presentation
FY26 Results Presentation 2026 ASX: EHL
Slide 2: Important Notices and Disclaimers
IMPORTANT NOTICES AND DISCLAIMERS Reliance on third party information The information and views expressed in this Presentation were prepared by Emeco Holdings Ltd (the Company) and may contain information that has been derived from publicly available sources that have not been independently verified
Slide 3: Earnings Growth and Strong Cash Generation
S E C T I O N 0 1 EARNINGS GROWTH AND STRONG CASH GENERATION
Slide 4: Safety and Environmental Performance
SAFETY AND ENVIRONMENTAL PERFORMANCE Safety and sustainability are our top priority 2.3 Total Recordable & Lost-Time Injury Frequency Rate Per million hours worked Improved Total Recordable Injury Frequency Rate (TRIFR) has decreased to 2.3 as at 30 June 2026 (3.4 as at 30 June 2025). 3.4 0.4 3.2 2.
Slide 5: FY26 Highlights
FY26 HIGHLIGHTS Earnings growth, strong cash generation, further deleveraging Revenue Adjusted Operating Free Cash Flow1,2 $792.8M $114.5M Up 1% vs FY25 Stable vs FY25 Operating EBIT1 Return on Capital3 $148.0M 16.9% Up 2% vs FY25 Up 30 bps vs FY25 Operating EBIT Margin1 Leverage4 18.7% 0.43x Up 10
Slide 6: Returns and Cash Flow Generation
RETURNS AND CASH FLOW GENERATION Long-term returns, strong balance sheet and cash flow Return on capital (%)1,2 Operating Free Cash Flow ($M)1,3 Net leverage (x)1,4 16.9 1.10x 16.6 114 115 1.00x 14.9 13.2 87 0.65x 52 0.43x FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Increased 370 bps
Slide 7: Shareholder Value
SHAREHOLDER VALUE Buy-back represents high-return use of balance sheet capacity Net Tangible Assets Operating free cash flow1,2 Earnings per share ($/share) (cents/share) (cents/share) • Strong earnings and cash generation 1.51 underpinning strong shareholder 22.0 22.1 1.36 14.5 14.8 returns • Opera
Slide 8: Company Overview: Rental to Fully Maintained
COMPANY OVERVIEW: RENTAL TO FULLY MAINTAINED RENTAL TO FULLY MAINTAINED Maintenance and technology offering – key differentiator and growth driver Gross Revenue (%)1,4,5,6 Gross EBIT ($m)2,6 and Return on Capital3 (%) Rental 16.9% 16.6% 14.9% 13.2% Maintenance 55% 50% 60% 66% 146 159 Technology 153
Slide 9: Outlook
OUTLOOK A resilient, cash-generative business positioned for growth FY27 FY28 New project pipeline will drive increased utilisation forecast to ~90% for Expect utilisation run rate to deliver surface and ~80% for underground by the end of FY27 earnings growth in line with our 20% ROC Maintenan
Slide 10: Operating Segments
S E C T I O N 0 2 OPERATING SEGMENTS
Slide 11: Rental Overview
RENTAL OVERVIEW Resilient earnings with utilisation improving Australia’s largest provider of mining rental equipment and value-added services Financial Highlights Revenue • Revenue growth of 4% driven by on-site maintenance (up 44%), partly offset by 840 $637M lower 2H fleet utilisation fleet size
Slide 12: Rental Overview: Fleet Statistics
RENTAL OVERVIEW: FLEET STATISTICS Fleet utilisation key to earnings growth and 20% ROC Portfolio by Equipment Type (WDV1) Expected to close at AVERAGE SURFACE EQUIPMENT UTILISATION ~90% - key to hitting 20% ROC target $62m 100% 90% Recovery in FY27 Surface Normal range: 83 to 88% Underground 80% Fle
Slide 13: Force Overview
FORCE OVERVIEW Force – key enabler of growth Force provides the equipment and component rebuild capability that underpins our growth in maintained rental projects and in-field customer maintenance services Australia’s leading mining equipment maintenance and rebuild service provider Gross Revenue1 F
Slide 14: Financial Results
S E C T I O N 0 5 S E C T I O N 0 3 FINANCIAL RESULTS
Slide 15: Operating Profit and Loss
OPERATING PROFIT AND LOSS Improvements across key metrics $m FY25 1H26 2H26 FY26 Change Unless otherwise stated Revenue OBJECTIVE 1 EBIT Revenue 785.4 420.8 372.0 792.8 1% Operating EBITDA1 301.1 155.8 136.7 292.5 (3%) Operating EBITDA margin1 38.3% 37.0% 36.7% 36.9% (140 bps) Operating EBIT1 145.7
Slide 16: Cash Flow
CASH FLOW Strong cash flow generation continues Cash Flow Waterfall ($m) 350 Revenue EBIT Overview 18.5 Operating Free Cash Flow1 of $127.6 million 300 292.5 ( 4.5 ) Operating free cash flow1 $127.6m Adjusted by $13.2 million to $114.5 million ( 30.2 ) for sale and leaseback and timing of Adjust
Slide 17: Balance Sheet
BALANCE SHEET Strong balance sheet - capacity for growth and buy-back Overview $m 30 June 2025 Revenue 30 June 2026 EBIT Strong balance sheet with industry leading low net leverage1 of 0.43x, Plant & equipment 803.9 814.3 maintaining strength to provide flexibility for growth and shareholder Right
Slide 18: Debt Maturity Profile and Liquidity
DEBT MATURITY PROFILE AND LIQUIDITY Refinancing strengthened liquidity position, with new 5-year facility Overview Refinanced in late 2025 with revolving syndicated debt facility: $350 million and $5 million ancillary guarantee maturing in December 2030, $190 million undrawn at 30 June 2026. Reven
Slide 19: Targeting 20% ROC and Improved Cash Generation
TARGETING 20% ROC AND IMPROVED CASH GENERATION On our journey to deliver 20% ROC target Return on Capital1 drivers % Operating Free Cash Flow $million (before growth capex)2 +20% 16.9% 16.6% 20% 140 14.9% 120 115 114 87 FY24 FY25 FY26 Equipment ROC Growth in Target FY24 FY25 FY26 Projected Projected
Slide 20: Summary
S E C T I O N 0 4 SUMMARY
Slide 21: Summary
SUMMARY Strong platform to drive growth Resilience of our business model evidenced in earnings growth, strong cash generation, further FY27 FY26 deleveraging Board approved on-market share buy-back of up to 10% of shares on issue1 - represents high- return use of balance sheet capacity Our new p
Slide 22: Additional Content
AP P E N D I C E S ADDITIONAL CONTENT
Slide 23: Emeco's Strategic Pillars
APPENDICES – ADDITIONAL CONTENT Emeco’s strategic pillars Emeco’s strategic pillars ensure a sustainable and resilient business and the creation of long-term value for shareholders OBJECTIVE 1 EBITDA Be Australia’s lowest Deliver strong 01 cost, highest quality, technology-driven mining equipment 02
Slide 24: Performance History – Half on Half
APPENDICES – ADDITIONAL CONTENT Performance history – half on half Revenue ($m) 1 Operating EBITDA ($m) 2 Operating EBIT ($m) 2 Operating NPAT ($m) 2 46 46 43 398 421 372 155 155 39 39 355 348 383 387 137 137 143 146 138 68 77 77 71 34 35 309 115 64 61 65 41 20 1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H2
Slide 25: Revenue Analysis
APPENDICES – ADDITIONAL CONTENT Revenue analysis Revenue by commodity1 Revenue by geography1 Revenue by service type2 Revenue by Top 10 customer1 4% 5% 4% 20% 27% 23% 19% 33% 19% FY26 47% 50% 3% 13% 9% 3% 30% 31% 3% 4% 8% 30% 5% 5% 6% 7% 4% 14% 4% 14% 18% Customer 1 27% 32% Customer 2 Customer 3 19%
Slide 26: Fleet Equipment Breakdown
APPENDICES – ADDITIONAL CONTENT Fleet equipment breakdown Open-cut fleet Type Count Underground fleet Type Count Trucks 376 LHD Loaders 40 Trucks 26 Dozers 167 Loaders 75 Jumbo Drills & 16 Cable Bolters Graders 48 Production Drills 5 Excavators 48 Charge Unit 8 Ancillary 9 Other 22 Total 723 Total 1
Slide 27: Company and Market Overview
AP P E N D I C E S COMPANY AND MARKET OVERVIEW
Slide 28: Australia's Leading Mining Rental & Maintenance Service Provider
COMPANY AND MARKET OVERVIEW Australia's leading mining rental & maintenance service provider Equipment rental Fleet maintenance Equipment rebuilds Asset management AI/Operational technology Revenue by commodity1 Diversified across commodities and blue-chip miners 5% Gold Gold and metallurgical coal
Slide 29: End-to-end Rental and Maintenance, Built for Long-term Partnerships
OUR VALUE PROPOSITION – HOW WE WIN End-to-end rental and maintenance, built for long-term partnerships Heavy equipment rental On-site and field maintenance • Australia's largest heavy • Full on-site maintenance crews equipment rental fleet • Field service diagnostic specialists • Guaranteed availabi
Slide 30: Customers and the Benefits of Renting
COMPANY AND MARKET OVERVIEW Customers and the benefits of renting Rental value proposition for the mining industry Conserve capital Quality of Customer Type1 Revenue by Service Type2 Customer Breakdown1 For mine owners rental provides: Insured value Gross Revenue Revenue flexibility as mine de
Slide 31: Solid Production and Market Outlook
MARKET OVERVIEW Solid production and market outlook Demand is expected to exceed production in Emeco’s key commodity exposures, supported by higher material movement as deeper pits require increasing waste removal. Gold Metallurgical Coal Thermal Coal Iron Ore Record prices, active WA expansion with
Slide 32: Leveraging AI to Improve Reliability, Reduce Costs and Extend Asset Life
F O R C E O V E R V I E W: T E C H N O L O G Y- E N AB L E D AS S E T M AN AG E M E N T Leveraging AI to improve reliability, reduce costs and extend asset life Condition Monitoring & Predictive Maintenance | ACTIVE • AI/ML enhanced oil sample analysis • Active telemetry and condition monitoring acr
Slide 33: Growing Shareholder Value Through Scale and Earnings Growth
FOCUSED ON DRIVING GROWTH Growing shareholder value through scale and earnings growth OPERATING LEVERAGE ORGANIC GROWTH Target 20% ROC1 Grow maintenance earnings Increase equipment utilisation in FY27 – to Grow maintenance earnings by leveraging exit with surface at 90% and UG at 80% unique valu
Slide 34: The Investment Case
THE INVESTMENT CASE A resilient, cash-generative business focused on returns Resilient business Market leadership Returns driven Durable earnings and margins sustained with Australia's largest national mining equipment ROC1 improving to 17% with pathway to ROC1 exceeding WACC over 8 years. rental an
Slide 35: Reconciliations
AP P E N D I C E S RECONCILIATIONS
Slide 36: Statutory to Non-IFRS Disclosure
APPENDICES: RECONCILIATIONS Statutory to non-IFRS disclosure FY26 FY25 Statutory to operating reconciliation Statutory to operating reconciliation Revenue EBIT EBIT Revenue $m EBITDA NPAT $m EBITDA EBIT NPAT Statutory Result 275.9 130.3 76.7 Statutory Result 288.6 132.2 75.1 Tangible asset impairmen
Slide 37: Statutory to Non-IFRS Disclosure
APPENDICES: RECONCILIATIONS Statutory to non-IFRS disclosure Cash flow reconciliation Net debt and leverage reconciliations $m FY25 FY26 30 June 30 June $m 2025 2026 Operating EBITDA Revenue 301.1 292.5 EBIT Revenue Interest-bearing debt – Secured Notes (AUD) 250.0 - Working capital (12.7) 18.5 Inte
Slide 38: Maintenance Earnings
APPENDICES: RECONCILIATIONS Maintenance Earnings Revenue ($m) FY22 FY23 FY24 FY25 FY26 Force - External [A] 90.6 156.5 166.2 170.0 155.8 Force - Internal [B] 83.1 90.2 116.2 103.5 121.0 Force Gross Revenue 173.7 246.7 282.4 273.5 276.8 Elimination (83.1) (90.2) (116.2) (103.5) (121.0) Force Segment
Slide 39: Thank You
Thank You Thank You Investor enquiries: Stephanie Ottens GM, Investor Relations & Communications Investor.relations@emecogroup.com emecogroup.com EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 39