Slides
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FY26 Half Year February 2026 Financial Results For personal use only
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Important Information This presentation has been prepared by Austin Engineering Limited (ABN 60 078 480 136) (“Austin” or the “Company”). The information in this presentation should be read in conjunction with Austin’s continuous disclosure announcements. The information is of a general nature and has been prepared by Austin in good faith and with due care but no representation, warranty or assurance, express or implied, is given or made as to the fairness, accuracy, adequacy, completeness or reliability of any statements, estimates or opinions, conclusions or other information contained in this presentation. You should also be aware that any forward looking statements in this presentation are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the businesses of Austin as well as general economic conditions and conditions in the financial markets. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement and such deviations are both normal and to be expected. No relevant party makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward-looking statement, and you are cautioned not to place undue reliance on these statements. The forward-looking statements in this presentation reflect views held only as at the date of this presentation. Subject to any continuing obligations under applicable law or any relevant ASX listing rules, Austin also disclaims any obligation or undertaking to provide any updates or revisions to any forward- looking statements in this presentation to reflect any change in expectations in relations to any forward-looking statements or any change in events, conditions, circumstances, expectations or assumptions on which any such statement is based. Nothing in this presentation shall under any circumstances create an implication that there has been no change in the affairs of Austin since the date of this presentation. The information in this presentation does not constitute financial product advice (nor investment, tax, accounting or legal advice). Investors must not act on the basis of any matter contained in this presentation, but investors must rely on their own independent assessment, investigations and analysis of Austin. Investors should obtain their own professional, legal, tax, business and/or financial advisors before making any investment decision based on their investment objectives. Due care and attention should be undertaken when considering and analysing the financial performance of Austin. All amounts are presented in Australian dollars unless otherwise stated. This presentation includes certain terms or measures which are not reported under International Financial Reporting Standards (IFRS) including, but not limited to, ‘underlying’ and ‘normalised’. These measures are used internally by management to assess the performance of the business and make decisions about the allocation of resources. These non-IFRS measures have not been subject to audit or review. Refer to Austin’s published financial results to ASX for financial information presented in according with IFRS standards. Each recipient of this presentation or any entity or person receiving this document represents, warrants and confirms that it accepts the above conditions. This presentation and the information contained in it does not constitute a prospectus or product disclosure statement, disclosure document or other offer document relating to Austin under Australian law or any other law. This presentation is not, and does not, constitute an offer, invitation or recommendation to subscribe for, or purchase, securities in Austin. P 2 For personal use only
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Agenda • About Austin • Results Overview • Operational Improvement Plan • Financial Results • Sector analysis • Global Strategy • Guidance For personal use only
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Who we are Global mining solutions business with diversified commodity exposure. Employees and contractors worldwide 1,222 50+ years Engineering and manufacturing mining equipment 6 Operating sites across four continents 14 Partner with final assembly companies Trays manufactured 15,000+ P 4 For personal use only
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What we do Design-Led Solutions Innovation Customisation Standard is our Value that adds Global Reach Local Focus P 5 For personal use only
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Where we are 117 89 209 350 457 1,222 Western Australia Queensland North America South America Indonesia Total Workforce FY26 Total Workforce (employees and contractors) workforce & facilities 0 500 1,000 1,500 2,000 FY22 FY23 FY24 FY25 1HY26 Total Workforce P 6 For personal use only
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FY26 H1 Results Overview Revenue $170.3m Down 3% from $175.5m EBITDA $8.0m Operating Cash flow $6.6m NPAT $2.0m Down 85% P 7 Compared to ($4.4)m pcp EBIT $3.0m Free Cash Flow $3.1m Down 83% Compared to ($9.7)m pcp Net Debt $18.2m $12.8m at FY25 Comparisons are based on the prior corresponding period (pcp) and continuing operations. Down 63% Half year fully franked dividend 0.3c Per share (1H25: 0.6c) For personal use only
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FY26 H1 material items included in the Statutory EBITDA results Material items included in Statutory EBITDA continuing operations 1H26 1H25 Change $M YTD YTD $M FX loss/(Gain) 0.7 0.9 (0.2) Chile Redundancy/US support 0.6 0.6 Indonesia restructure 0.1 0.1 Chile OEM onerous contract provision 1.6 1.6 Chile inventory impairment 0.9 0.9 Chile stock adjustment (1.1) (1.1) USA inventory provision 0.2 0.2 Australia additional warranty provision 0.5 0.5 APAC redundancy 0.5 (0.5) HPT new product - Next Gen Version 0.7 (0.7) USA capacity expansion 0.9 (0.9) Chile expansion to support OEM 1.0 (1.0) Rework on historic product 1.0 (1.0) USA mining Expo (4-year cycle unlikely to repeat) 1.4 (1.4) ERP & other systems (one off introduction costs) 0.4 (0.4) Total material items 3.5 6.8 (3.3) P 8 For personal use only
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Operational Improvement Plan - Chile • New management team lead by experienced GM reporting to VP America's. • Steel yard and preparation area is now under control - inventory control, security controls and steel preparation overseen from North America, improving yield. • Direct and Indirect labour adjusted – July 2025 headcount 250 and Jan 2026 headcount 169. • Subcontractors - displaced under-performing subcontractors. Next step is to move more work in-house. • Improving planning and scheduling to increase throughput • Implemented stricter vendor management to control costs. • Improving factory flow, management of work orders and implemented KPI to measure efficiency, productivity and against quotes. • Major OEM contract being re-negotiated or will terminate in April 2026 (no further purchase orders) – contract has been a significant contributor to the poor operational performance in Chile directly and indirectly. P 9 OEM Contract ($M) 1H26 Life to Date Revenue 9.7 38.8 EBITDA (3.2)* (7.2) EBITDA margin % (32.9%) (18.5%) * 1H26 EBITDA includes OEM onerous contract provision of $1.6m For personal use only
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Operational Improvement Plan - USA P 10 • Main focus is to improve workshop efficiencies – refer table to right but still room for improvement (productive hours to total hours of workshop employees) Month Productivities July 25 62% August 25 64% September 25 64% October 25 67% November 25 67% December 25 76% January 26 70% • Due to inefficiencies, too many truck trays were outsourced for assembly impacting margin and internal labour cost per productive hour, too high. • KPI's implemented to track efficiency (improved operational discipline). Can only manage what you measure. Productivities, actual v quoted, target time per workstation displayed. • Changing the mix of staff v contractors. Contractors are transient and inexperienced in the Austin Way. Converting staff and training our own via internal weld school. Targeting > 80% / 20% mix. Jan 26 - 75% / 25% mix and June 25 – 63% / 37% mix. • Improved production flow through workshop by improving short term and long term planning – focus to reduce idle time and improve throughput. • Restructured working teams, paring experience with inexperienced (squad structure) to improved productivities. • Increasing use of welding technologies (Gecko's, Cobolts, Robots) but significant room for further improvement. • Focused on vendor cost management to improve all cost lines. For personal use only
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P 11 Financial Results For personal use only
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Financial Performance • Revenue at 170.3m down 3%, with APAC -12%, South America -11% and North America +12%. • EBITDA is down 63% driven by Chile loss of $4.1m, margin declines in the US and Indonesia partially offset by Australia’s margin improvement. • D&A expense up $0.6m, with an increase in the US and APAC. • Net interest decrease from an increase interest received. • Effective tax rate across the Group at 10%, the decrease due to loss in Chile and US and Indonesia lower profit. • NPAT of $2.0m down 85% on last year. • Profit numbers include net material items of $3.5m (LY $6.8m), detailed on slide 8. P 12 6 months ending* 1H26 1H25 VAR % Revenue $M 170.3 175.5 -3.0% EBITDA $M 8.0 21.5 -62.7% EBITDA margin % 4.7% 12.3% -7.6% Depreciation and amortisation $M (5.0) (4.4) 13.6% EBIT $M 3.0 17.1 -82.6% EBIT margin % 1.7% 9.8% -8.1% Net interest expense $M (0.8) (1.1) -30.0% PBT $M 2.2 16.0 -86.4% Tax Expense $M (0.2) (2.6) -91.3% NPAT $M 2.0 13.4 -85.1% NPAT margin % 1.1% 7.6% -6.5% Analysis of Financial Performance * Statutory reported numbers from continuing operations For personal use only
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7.8 20.6 21.5 8.0 1H23 1H24 1H25 1H26 0 5 10 15 20 25 30 Group Financial Performance Trend 114.1 143.6 175.5 170.3 0 20 40 60 80 100 120 140 160 180 200 1H23 1H24 1H25 1H26 * Prepared on a continuing basis, includes misstatement adjustment for HY25 Revenue of $5.3m and EBITDA of $3.1m. Revenue EBITDA • The Group’s revenue driven by a 12% decline in APAC, offset increase of 12% North America’s and 11% decrease in Chile. • APAC revenue was impacted by reduction in tray orders. • US revenue growth moderated following a 50% growth the prior year. • South America saw slower revenue growth from a cap on OEM production and the restructuring of the Chile operations. • The Group’s EBITDA is driven by declines across all sectors. • APAC EBITDA decline of $3.1m, driven by decline in tray volumes and Indonesia operational inefficiencies, partially offset by significant improvement in the Australian buckets moving back to profitability. • North America EBITDA decline of $4.6m due to labour inefficiencies, with increased dependency on contract labour and 3rd party contractors. • South America reported a loss of $4.1m due to the pricing of the OEM contract and production inefficiencies. P 13 For personal use only
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P 14Cash flows reflect continuing & discontinued operations. Cash position of $15.8m Operational Cash Flow $9.0m - Interest and Tax $2.4m Capex $3.5m- Free Cash Flow (FCF) $3.1m • Positive operational cash flow of $9m with working capital broadly flat through the half. • EBITDA to FCF conversion of 39% improved during the half. • Capex of $3.5m supported upgrades to operational facilities. • Free cash flow of $3.1m after interest, tax and capex. • The cash position used to fund the dividend of $5.3m and share buyback of $1.2m. FY25 Cash Balance 1H26 Cash Balance EBITDA Working Capital Net Interest Paid Tax Paid Capital Exp Borrowing inflow Dividend FX1H26 Net Cash Mvt Lease payments Other Mvt 20.1 0.7 0.5 (0.8) (1.6) (3.5) 1.1 (1.2) (5.3) (2.3) (4.7) 0.4 15.8 7.9 (10.0) (5.0) 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 Share Buyback For personal use only
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Financial Position • Inventory decreased by $6.4m, largely due to the consumption of raw materials and improved management of inventory. • Trade, other receivables and contract assets decreased by $17.7m driven by strong collections across the APAC region. • Trade, other payables and provisions decrease of $16.5m, driven by steel supplier payments. • Customer advance payments decreased by $8.1m with the delay in orders. $M Dec-25 Jun-25 Mvt %Change Finished goods 10.1 6.4 (3.7) -57% Work-in-progress 36.1 40.4 4.3 10.6% Raw Materials 35.3 41.1 5.8 14.0% Total inventory 81.5 87.9 6.4 7.3% Trade, other current receivables and contract assets 54.3 72.0 17.7 24.5% Current lease receivable 8.7 8.9 0.2 2.6% Current Tax asset 2.9 2.5 (0.4) -17.0% Trade, other payables and provisions (62.8) (79.3) (16.5) 20.8% Customer advance payments (15.5) (23.6) (8.1) 34.4% Net Working Capital 69.3 68.5 (0.7) -1.1% Working capitalBalance Sheet $M Dec-25 Jun-25 Cash and cash equivalents 15.8 20.1 Trade, other receivables and contract assets 55.6 73.1 Inventories 81.5 87.9 Finance Lease receivables 21.3 17.5 Property, plant and equipment 48.5 48.4 Intangible assets 25.0 25.7 Right of use assets 10.6 16.3 Current tax assets 2.9 2.5 Deferred tax assets 12.3 11.8 Total Assets 273.5 303.3 Trade, other payables and contract liabilities 71.8 95.1 Borrowings 34.0 32.9 Tax liabilities 0.4 0.8 Provisions 9.6 11.1 Lease liabilities 17.4 19.4 Total liabilities 133.2 159.3 Net Assets 140.3 144.0 Net Debt (18.2) (12.8) Net Debt to Net Debt plus Equity* 11.5% 8.2% * Net debt increased to $18.2m, to support US and Chile working capital requirements. P 15 For personal use only
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P 16 Sector Analysis For personal use only
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Analysis of Financial Results Analysis of Financial Results Sector Analysis Asia-Pacific 1H25 1H26 Revenue (continuing operations) $M 80.0 70.6 EBITDA $M 13.7 10.6 EBITDA margin % 17.1% 15.0% Asia Pacific • APAC revenue softened, with tray sales down $20.3 million, due to timing of orders from a major Australian based customer and a softer East Coast market. • Strong bucket demand delivered a $14.2 million uplift, with production increasing and the region entering the second half with a solid order book. • An additional $21 million in tray orders has been secured post-half year. • Operationally, EBITDA declined due to lower production and efficiency challenges in Indonesia. These impacts were partially offset by the continued improvement in Australia’s bucket performance. • The Indonesian business has been restructured to align with current demand, improving manufacturing efficiency and securing Chute orders. 43.6 64.9 77.1 80.0 70.6 30 40 50 60 70 80 90 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 APAC $M Revenue P 17 For personal use only
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Analysis of Financial Results P 18 Analysis of Financial Results North America 1H25 1H26 Revenue (continuing operations) $M 63.6 71.5 EBITDA $M 8.7 4.2 EBITDA margin % 13.8% 5.8% Sector Analysis 23.6 32.6 41.9 63.6 71.5 0 10 20 30 40 50 60 70 80 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 N. America $M Revenue North America • Sales increased by 12%, building on exceptional growth in the prior year. While demand remains strong, profit margins declined due to production inefficiencies and a higher reliance on contract labour and outsourcing to meet production requirements. • The business is now focused on restoring operating leverage by improving workshop productivity, increasing production flow, and reducing dependency on external contractors. To support this, North America is investing heavily in workforce capability, including lean-manufacturing training, an expanded welding school program, and new manufacturing technologies such as welding automation and advanced assembly jigs. • Order levels in the first half were lower due to timing, with a stronger order cycle expected in H2. Underlying customer activity remains robust, and the region is positioned to benefit from improved efficiencies and increased in-house production capacity. For personal use only
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Analysis of Financial Results South America 1H25 1H26 Revenue (continuing operations) $M 31.9 28.3 EBITDA $M 3.0 (4.1) EBITDA margin % 9.5% -14.6% Sector Analysis South America • Revenue decreased by 11%, due to capping the OEM production to 5 units per month and restructuring of Chile’s operation, lowering production capacity. • The region recorded an EBITDA loss, due to the OEM contract, operational inefficiencies, product rework, and restructuring costs associated with headcount reductions. • Chile’s recovery is firmly underway. A new GM and refreshed leadership team have implemented a single-shift operating model, exited or replaced underperforming contractors, strengthened production processes, and introduced tighter governance and controls. • The existing OEM order will be completed in Q3, with negotiations underway to extend the program under improved pricing and commercial terms. 12.7 16.6 24.6 31.9 28.3 0 5 10 15 20 25 30 35 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 South America $M Revenue P 19 Analysis of Financial Results For personal use only
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P 20 Global Strategy For personal use only
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Manufacturing Leadership Customer Focus 3 12Product Leadership Strategy – differentiating business for long-term success • Investment in sales teams • Marketing activity increased including more trade shows • Customer support personnel expanded in Australia and Chile • Common operational systems being introduced across the board • New ERP systems being deployed • AustBuy leveraging business scale • Focus on delivering customised products to deliver mining efficiency • Mining bucket sales growing across the Group including for dippers • AustIQ product launched • Digital systems under development P 21 For personal use only
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Focusing on customer needs is key - Accessible market for trays is estimated to be up to 7x current production levels ~26,000 Trucks ~4,500 Annual Replacement ~700 Current production level Home Markets are defined by proximity to Austin’s manufacturing and service footprint (Australia, North America, South America, Indonesia and selected African operations). External industry sources (e.g. GlobalData, Mining Technology) indicate ~26,000 haul trucks >100t operating in these regions, with Austin estimating ~4,500 annual body replacements based on typical wear life across commodities and conditions. All figures are indicative. P 22 For personal use only
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Where our customers are P 23 For personal use only
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34.9 37.2 11.119.5 4.2 47.3 15.1 Revenue Diversification P 24 Commodity 1H FY26 1H FY25 Oil 28% 17% Copper 22% 26% Iron Ore 20% 27% Coal (Met) 11% 5% Other 9% 7% Gold 7% 13% Coal (Thermal) 2% 6% 6411 2 10 8 2 3 Product/Service Type 1H FY26 1H FY25 Bodies 64% 73% Buckets 11% 4% Other Products/Parts 10% 7% Shop Maintenance/Repairs 8% 9% Other Services 3% 2% Chutes 2% 3% Site Maintenance/Repairs 2% 1% 83 2 7 8 Customer Types 1H FY26 1H FY25 Miners 83% 78% Other 8% 7% OEMs 7% 10% Mining Contractors 2% 5% COMMODITY ($ M) PRODUCT / SERVICE (%) CUSTOMER (%) For personal use only
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Guidance P 25 For personal use only
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FY26 Guidance P 26 Outlook • FY26 revenue of $350m+ • FY26 EBIT of $14m - $16m* * Excludes FX movements For personal use only
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P 28 Appendix For personal use only
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Six truck tray types for different applications JEC HPT JEC-LD ULTIMA WESTECH WESTECH PREMIER P 29 For personal use only
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Leading range of mining buckets for many applications P 30 For personal use only
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P 31 P 31 For personal use only
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P 32 What is Comprehensive Fleet Management System Buckets, Trays and GET Management Undercarriage Management Boom and Stick management Application Based Inspections and Safety ? AustIQ is a powerful application tool that enables complete through life asset management at your fingertips This complimentary service includes system setup upon truck body or bucket delivery, a tablet, and on-site training for your condition monitoring team to ensure full life-cycle support. P 32 For personal use only
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The Solution: austIQ an advanced web-based platform which is a suite of tools designed to empower our customers to maximise asset performance, extend asset lifecycles and optimise operational efficiency • austIQ was developed, using proprietary algorithms. • Developed a “nervous system” to transform a seemingly “dumb” mass of steel into something that can provide important information. • It gathers and processes valuable input for wear, vibration, impact G-force, cycle time and location. • It delivers precise condition reports to aid in production, maintenance and replacement planning. The Need: A condition monitoring eco-system for HME wearables which will allow for: • More precise production planning and maintenance scheduling. • Provide vital information for the asset replacement – timeline to replacement. For personal use only
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Innovative Latching - The iTrip The Need: Dippers are replaced prematurely due to wear of key components • A dipper campaign (hang time) is limited to the lifecycle of its critical components. • Components include the door latching system, door pins, and equaliser pin. • Bush wear limits the life of these components. The Solution: The iTrip Eliminates wear of critical components. • Fitment of the iTrip ‘Equaliser and iTrip System’ to double component life. • Self-lubricating poly bushes installed in door and equaliser. • Static pin installed to eliminate rotational wear. • Steel components of the latch system replaced with nylon parts (iTrip). Static Equaliser Pin P 34 For personal use only
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• 72% reduction in maintenance hours • Leading to increased safety • 49% saving in maintenance component costs • Compatible with all dipper makes Key Benefits Innovative Latching - The iTrip P 35 For personal use only
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Get Smarter with GET Supply – Powered by Bierwith Forge Dipper Lip & Hammerless GET Solutions. Interchangeable tooth and shroud positions. Easier, faster, safer GET locking mechanism. P 36 For personal use only