Slide 1: FY25 Results Presentation
FY25 RESULTS Presentation Steven Boland - CEO — Lda ttt od tM ts Andrew Crowther - CFO ULE pL Matt Caporella - COO ; acrow. ENGINEERING & CONSTRUCTION @ Raising the Standard in Construction. Sydney Harbour Bridge 5 ellie
Slide 2: Disclaimer
©> acrow. DISCLAIMER This presentation is based on unaudited final results and provided for information purposes only. The information in this presentation is in a summary form, does not purport to be complete and is not intended to be relied upon as advice to investors or other persons. The informa
Slide 3: Acrow Overview
ACROW OVERVIEW COMPETITIVE ADVANTAGES Acrow is a leading provider of smart integrated construction systems. ENGINEERING | QUALITY EXPERTISE & | OF OUR SOLUTIONS | PEOPLE m= 8 x Spor EBS Al os cf wi 1950 Apr2018 ‘6 states 7 gairre: 1450 63 clients engineers PRopucT | GEOGRAPHIC RANGE FOOTPRINT OUR JO
Slide 4: Strategic Principles
STRATEGIC PRINCIPLES < acrow. 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 our Formwork and Industrial Access businesses. Maintain a disc
Slide 5: Positioning for Future Opportunities
Slide 6: Accelerated Capital Program
ACCELERATED CAPITAL PROGRAM acrow. Preparing the business for future work FY25 TOTAL CAPITAL SPEND PP&E Acrowdeck $1.3m $3.5m Non-growth $5.7m Jumpform $15.1m Other growth $4.0m Screens qi $3.6m Industrial Access $6.5m 60 50 HURDLE RATE 40% PU 93.5. > Total capex spend FY25 $39.7m (excl. ex-hire rep
Slide 7: Building Sustainable Earnings
BUILDING SUSTAINABLE EARNINGS <> acrow. Expanded Industrial Access to deliver recurring revenue business ° Represented 50% of group revenue in FY25 Industrial Access Acquisitions: * MI Scaffold (Nov-23) * Benchmark Scaffolding (Mar-24) * Brand Australia (Apr-25) * Above Scaffolding (Apr-25) Generati
Slide 8: Jumpform Screens
JUMPFORM SCREENS 42 system wins across 30 projects since launch 91 screens projects in progress nationally Multiple repeat customers Organic growth in VIC, SA and WA 12 projects include screens supply Complementary to Jumpforms Project wins in all major national cities Record FY25 hire contract wins
Slide 9: Positioning for Growth
POSITIONING FOR GROWTH acrow.
Slide 10: Key FY25 Highlights
— Sane S KEY FY25 HIGHLIGHTS
Slide 11: Key Operational Achievements FY25
KEY OPERATIONAL ACHIEVEMENTS FY25 acrow. INDUSTRIAL ACCESS - INDUSTRIAL ACCESS INDUSTRIAL ACCESS RECURRING REVENUE WA CONTRACT BMA CONTRACT Awarded landmark $42m contract for Contract renewal for three years plus Represents 50% of Group revenue Perdaman Project Ceres Urea plant one year option - fro
Slide 12: Safety Is Our Priority
SAFETY IS OUR PRIORITY aerow. ZERO HARM IMPROVEMENT TRIFR? LTIFR* 5.7 100% PROVEMENT oO FY24 FY25 FY24 FY25 TOTAL RECORDABLE INJURIES LOST TIME INJURIES 100% WAPPOYEMENT ) 1. 12 months rolling figures FY24 FY25 FY24 FY25 12 2.Total Recordable injury Frequency Rate 3iLost Time Injury Frequency Rate
Slide 13: Key Financial Metrics FY25
KEY FINANCIAL METRICS FY25' <> acrow. ° REVENUE EBITDA 300 $265.1 100 250 9153 go $746 $502 ‘80 %° = 100 23% ciel 8% a | | 20 | 7 ° aA nae TA re NPAT (Stat.) NPAT 36 $330 $34.3 2 25 ge i $233 a on a 9% 20 $ - L] “ i 10 5 5 : y : a ad TB za TE DPS 2 "54 EPS wire 6 _585c 5.856 0 | 5 ‘ ‘ . 3% 3 Flat op
Slide 14: Margins Influenced by Revenue Mix
MARGINS INFLUENCED BY REVENUE MIX DIVISIONAL REVENUE MIX SHIFT 34% 50% G B } Group margin expected to continue to move in line with Industrial Access growth & Industrial Access contracts are usually long-term, ranging from 3-5 years & Formwork margins remained stable
Slide 15: Financial Track Record
FINANCIAL TRACK RECORD’ REVENUE($m) FY19 FY20 FY21 FY22 FY23 FY24 FY25 25% CAGR 0 50 100 150 200 250 300 EARNINGS PER SHARE (c¢) FY19 FY20 FY21 FY22 FY23 FY24 FY25 17% CAGR ° 2 4 6 8 110 12 LAll metrics are underlying unless otherwise stated. <> acrow. EBITDA ($m) ROE (%) evo rv2o a? rv2o Fv21 ia 7H
Slide 16: Secured Hire Contracts and Pipeline
SECURED HIRE CONTRACTS AND PIPELINE acrow. Record wins and pipeline continue 120.0 HIRE CONTRACTS WON Secured contracts won M™ Hire revenue 95.3 98-2 2 93.9 196 - 2% ——> ee $98.2m 80.0 wag 777 $777 60 _ 67.2 40 60.0 son 20 42.5 37.2 39.3 40.0 2: se 31.0 FY24 FY25 23.7) 21.1 CURRENT PIPELINE ~ 20.0 2
Slide 17: De ee ere © f° oy a aaa
“| De ee ere © f° 2 oy a aaa CSUN <e Si pera
Slide 18: Divisional Breakdown
DIVISIONAL BREAKDOWN acrow. Record revenue continues Year ended 30 June ($000) FY25 FY24 Formwork 115,593 121,084 ¢ Industrial Access division driving growth Industrial Access 131,629 72,089 « Jumpform division revenue continues to increase Commercial Scaffold 17,896 22,084 * General formwork busine
Slide 19: Sales Contribution Bridge
SALES CONTRIBUTION BRIDGE <> acrow. Industrial Access division supporting growth $ 160 — 0.4 144.4 1.4 133.8 [| 39 120 & 100 80 $16.9m Industrial Access represents 60 159% of growth in sales contribution 40 Sales Industrial Industrial Formwork Commercial Product Other Sales contribution Access Acces
Slide 20: Formwork Division
FORMWORK DIVISION $ %chg Year ended 30 June ($000) FY25 —-FY24 Mvt PCP Formwork Hire 62,696 66,8404, 144 6% Product Sales 23,711 27,000 -3,289 -12% Consumables 21,806 22,955 -1,149 Cartage 7,381 4,289 3,092 72% Total Revenue 115,593 121,084 5,491 5% Formwork Hire 62,696 66,840 -4,144 -6% Product Sal
Slide 21: Formwork Revenue by State & National
FORMWORK REVENUE BY STATE & NATIONAL NATIONAL FORMWORK QLD FORMWORK REVENUE REVENUE VIC FORMWORK REVENUE 1211 1156 30 287 102.0 25 24) 40 100 20 30 31.0 80 yi 5 we 155 gud 21.2 $m 60 506 : $m 20 148 40 10 75 10 5 n A | ‘- e C) FY20 =FY21 =FY22 FY23 FY24 FY25 ee eee Fy20 FY21 FY22 FY23 FY24 FY25 NSW
Slide 22: Current Marquee Projects
CURRENT MARQUEE PROJECTS acrow. Reputation for quality, safety & service WEST GATE TUNNEL, VIC CROSS RIVER RAIL, QLD METRO TUNNEL, VIC SYDNEY METRO WEST, NSW SNOWY HYDRO, NSW COOMERA CONNECTOR, QLD KIDSTON, QLD et ee " s *Total hire & sales revenue to-date “Snowy & Kidston Includes formwork hire and
Slide 23: Industrial Access Division
$m INDUSTRIAL ACCESS DIVISION Year ended 30 June ($000) Scaffold Hire Labour Hire Product Sales Total Revenue Scaffold Hire Labour Hire Product Sales Total Contribution Contribution Margin* FY25 19,828 86,776 25,024 131,629 19,828 21,432 6,901 48,161 36.6% * Refers to percentage point change on PCP
Slide 24: Current Marquee Contracts
CURRENT MARQUEE CONTRACTS Industrial Access Contracts SNOWY, NSW PERDAMAN, WA = ee oes SUN METALS, QLD VISY TUMMIT, NSW s HAY POINT, QLD
Slide 25: Commercial Scaffold
COMMERCIAL SCAFFOLD > acrow. $ %chg Year ended 30 June ($000) FY25 —FY24 Mvt PCP Scaffold Hire 17,009 14,890 -3,887 -26% Labour & Cartage 6887 7,194 -307 4% Total Revenue 17,896 22,084 = -4,188 = -19% Revenue down 19% Scaffold Hire 11009 14,890 ~—-3.887 26% ¢ 2H prices and volumes stabilised above h
Slide 26: Financials
eer my Andrew Crowther, CFO aD FINANCIALS
Slide 27: Profit & Loss
PROFIT & LOSS acrow. Year ended 30 June ($000) FY25 FY24 Underlying NPAT up 4%. Sales 265,118 215,256 ‘otallGopybutory 144.421 183,778 Full year dividend of 5.85cps, flat on pep (100% franked) Contribution Margin* 54.5% 62.1% EBITDA 80,232 74,624 EBITDA Margin* 30.3% 34.7% EBITDA margin down on shif
Slide 28: Balance Sheet and Cash Flow
BALANCE SHEET AND CASH FLOW acrow. Period ended ($000) FY25 Cash 8,022 Total Assets 405,988 Debt 131,343 Total Liabilities 256,900 Net Assets 149,088 Gearing Net debt 123,321 Gross debt / (net debt + equity) 48.2% Net debt / (net debt + equity) 45.3% Net debt/EBITDA* 18 *EBITDA is calculated on a pr
Slide 29: Debt Refinance
DEBT REFINANCE <> acrow. Renegotiated funding to leverage strategic growth opportunities . 1.8x Debt facility with Westpac expanded on 1 October 2024 by $56m and 1 May 2025 by $20m. Net debt 1x a headroom at 30 June 2025 was $40m. $95.4m Debt levels remain within our guidelines. $67:8m Gearing level
Slide 30: Growth Opportunities
A — OEE GROWTH OPPORTUNITIES sven zoiana, wo s.cto
Slide 31: Total Building & Construction Work
TOTAL BUILDING & CONSTRUCTION WORK “Source: ACIF forecasts January 2025 TOTAL VALUE OF WORK PER SECTOR dertial_ Non-residential Engineering NON-RESIDENTIAL Accommodation’ Education Entertainméhrs-recreation: Health & aged caren” } | Industrial \ Miscellaneous Offices & othercommerc| | G Retail whole
Slide 32: Expected Growth in Existing Contract Base
Expected growth in existing contract base. Above Scaffolding & Brand - expanded growth opportunities. ¢ National rollout - leveraging product capabilities & existing client relationships Targeting significant growth opportunities in the defence and asset maintenance sectors Revenue synergies between
Slide 33: Product Development
PRODUCT DEVELOPMENT ACROWDECK UNI-RING <> acrow. PRODUCT STRATEGY & GROWTH Launched in August 2023 18,000sqm already in hire fleet across all states > Launched in January 2025 2500t equipment already in QLD/wa/SA 100% compatible with exiting ringlock fleet Ability to scale quickly due to owning IP a
Slide 34: Upcoming Major Projects
UPCOMING MAJOR PROJECTS Suburban Rail Loop, VIC T2D Torrens to Darlington, SA\ ‘+ 120 Project final 10.5km of the North= South Corridor ‘+ Main construction starts in late 2025; TBM tunnelling for Southern Tunnels begins in 2026 ‘= Preferred bidder announced for the ‘second tunnelling contract = Con
Slide 35: FY26 Observations
Ve FY26 OBSERVATIONS a f The Industrial Access division is expected to continue to grow with revenues approaching $200m for the year and contributing a larger . proportion of FY26 revenue. — The recently acquired industrial access businesses are expected to provide significant cross-selling & growth
Slide 36: Contact
CONTACT acrow. ACROW HEAD OFFICE 2A Mavis Street Revesby NSW 2212 & 1300 138 362 Steven Boland Andrew Crowther Matt Caporella MD & CEO CFO coo info@acrow.com.au & www.dcrow.com.au Investor enquiries & presentation questions Raising the Standard in Construction. & investors@acrow.com.au 36