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1 JB Hi-Fi Limited HY26 Results Presentation For personal use only
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JB HI-FI LIMITED Agenda PAGE 2 Agenda 1. Group Overview 2. HY26 Financial Performance 3. Balance Sheet and Cash Flow 4. FY26 Trading Update 5. Group Focus Areas 6. Investment Checklist Nick Wells David Giansalvo Group CEO Group CFO For personal use only
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1. Group Overview For personal use only
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JB HI-FI LIMITED PAGE 4 230+ Stores Leading retailer of technology and consumer electronicsProduct offering Leading retailer of home appliances and consumer electronics Value proposition Known and trusted for value Best brands, big range, low prices Customer focus Known for passionate, knowledgeable team members Exceptional customer service https://www.thegoodguys.com.au/wcsstore/AUOnlineSAS/images/good-guys-logo.svg https://www.thegoodguys.com.au/wcsstore/AUOnlineSAS/images/good-guys-logo.svg Target customer base Scale & Diversification Low Cost Operating Model Multichannel Capability People and Culture Three iconic retail brands leveraging a Group support function and underpinned by 4 key competitive advantages 21 3 4 Purpose Help people with better ways to live, learn, work, and play Help families live better for less Tech-savvy demographic Home-making families Channels Online JB HI-FI Business JB HI-FI Education Phone Sales 100+ Stores Online TGG Commercial Phone Sales Leading retailer of premium home appliances and bathroom Help people find the perfect appliance to improve life in their home Home renovator and new home builders 10+ Stores Online Commercial developers Builders & Architects The group model For personal use only
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JB HI-FI LIMITED PAGE 5 https://www.thegoodguys.com.au/wcsstore/AUOnlineSAS/images/good-guys-logo.svg Underpinned by 4 key competitive advantages The group model Scale ▪ #1 player in Australian Consumer Electronics and Home Appliance market ▪ Global relevance to suppliers and strong and engaged supplier relationships, both locally and globally ▪ Ability to execute promotions at scale and move significant volume ▪ Ability to maximise reach of new technology and product launches ▪ High traffic websites provide significant marketing opportunities and reach Diversification ▪ Multiple brands with unique and distinct brand personalities providing: ▪ Differentiation in offer and categories and go to market approach (Technology & Consumer Electronics, Home Appliances & Premium) ▪ Large, diversified customer base with ability to target different customers ▪ Reduced reliance on any single category or brand performance ▪ Geographic coverage and distribution Scale & Diversification1 Low Cost Operating Model2 Multichannel Capability3 People and Culture4 ▪ Constant focus on productivity and minimising unnecessary expenditure allows us to pass on greater value pricing to customers ▪ Highly productive floor space with high sales per square metre drives efficiencies ▪ Low cost base allows us to: ▪ Respond to market price activity and maintain focus on market share; and ▪ Compete effectively with traditional competitors and new market entrants ▪ Group functions enable business to drive efficiencies and spread investment across large cost base ▪ Focus on providing the customer with an integrated and frictionless shopping experience regardless of their chosen sales channel ▪ Customer choice on how to shop with us: ▪ Stores - high quality store locations that provide convenience and easy access ▪ Online - high brand awareness and optimised digital experience drives high traffic through websites ▪ Phone / chat / video - convenient and personalised sales experience giving customers ability to negotiate a deal ▪ Commercial - national support for corporate, government, construction and education customers ▪ Fast fulfilment, via in-store shopping, click and collect or delivery from the store network or big and bulky home delivery centres ▪ Store base provides confidence with aftersales support regardless of sales channels used when buying ▪ Knowledgeable and passionate teams who put customers first and provide exceptional customer service ▪ Strong, overarching culture that also reflects the individual brand personalities ▪ Dynamic and flexible environment allows the business to pivot quickly and adapt to any changing market conditions ▪ Highly engaged teams who have a connection with our brands and our purpose ▪ Diverse and inclusive workforce ▪ Unrelenting focus on health and safety For personal use only
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JB HI-FI LIMITED PAGE 6 Generating sustainable long-term growth Community Investment Make a positive impact in the communities in which our team members live and work Ethical Sourcing Work with our supply partners to protect and further human rights Climate Action Working towards net zero direct (scope 1 & 2) carbon emissions by 2030 Recycling & Circular Economy Manage operational waste and end-of-life product responsibly and optimising recycling Health, Safety & Wellbeing Create and maintain a safe and healthy workplace Engagement, Talent, Diversity & Inclusion Build highly engaged teams, develop our people and maintain a diverse and inclusive work environment The Group is committed to having a positive impact on our people, our community and our environment OUR PEOPLE OUR COMMUNITIES OUR ENVIRONMENT For personal use only
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2. HY26 Financial Performance For personal use only
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JB HI-FI LIMITED PAGE 8 Group HY26 Performance ▪ Total sales up 7.3% to $6.10 billion ▪ Earnings before interest and tax (EBIT) up 8.1% to $454.0 million ▪ Net profit after tax (NPAT)2 up 7.1% to $305.8 million ▪ Earnings per share2 up 7.1% to 279.7 cps ▪ Interim dividend of 210.0 cps, up 40.0 cps or 23.5%, representing 75% of NPAT2 1 All HY25 Group results disclosed in this presentation include e&s results for the period of ownership (2 September 2024 to 31 December 2024) 2 Attributable to the owners of JB Hi-Fi Limited HY26 HY25 Total sales ($m) 6,085.3 5,670.4 415.0 7.3% ▲ Earnings before interest and tax ($m) 454.0 419.9 34.1 8.1% ▲ Net profit after tax ($m)2 305.8 285.4 20.4 7.1% ▲ Earnings per share (basic ¢)2 279.7 261.1 +19 cps 7.1% ▲ Dividend per share (¢) 210.0 170.0 +40 cps 23.5% ▲ GrowthAUD 1 For personal use only
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JB HI-FI LIMITED PAGE 9 Group HY26 Performance $m % Sales ($m) - JB HI-FI Australia 4,120.5 3,875.2 245.3 6.3% ▲ - JB HI-FI New Zealand (NZD) 268.6 202.5 66.1 32.6% ▲ - The Good Guys 1,581.0 1,518.8 62.2 4.1% ▲ - e&s 144.8 92.3 52.5 56.8% ▲ Total Sales (AUDm) 6,085.3 5,670.4 415.0 7.3% ▲ EBIT ($m) - JB HI-FI Australia 340.9 316.5 24.4 7.7% ▲ - JB HI-FI New Zealand (NZD) 4.5 2.2 2.3 104.5% ▲ - The Good Guys 107.4 99.5 7.9 8.0% ▲ - e&s 1.7 1.9 (0.2) (11.3%) ▼ Total EBIT (AUDm) 454.0 419.9 34.1 8.1% ▲ EBIT Margin (%) - JB HI-FI Australia 8.27% 8.17% +11 bps ▲ - JB HI-FI New Zealand 1.69% 1.09% +59 bps ▲ - The Good Guys 6.79% 6.55% +24 bps ▲ - e&s 1.15% 2.03% (88 bps) ▼ Total EBIT Margin (%) 7.46% 7.40% +6 bps ▲ GrowthHY25HY26 For personal use only
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JB HI-FI LIMITED PAGE 10 JB HI-FI Australia HY26 Performance Sales ($m) 4,120.5 3,875.2 6.3% ▲ Gross Profit ($m) 904.5 846.4 6.9% ▲ Gross Margin (%) 21.95% 21.84% +11 bps ▲ Cost of Doing Business (%) 11.81% 11.76% +5 bps ▲ EBITDA ($m) 417.8 390.6 7.0% ▲ EBITDA Margin (%) 10.14% 10.08% +6 bps ▲ EBIT ($m) 340.9 316.5 7.7% ▲ EBIT Margin (%) 8.27% 8.17% +11 bps ▲ AUD HY26 HY25 Growth For personal use only
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JB HI-FI LIMITED PAGE 11 6.0% 6.5% 6.3% 5.0% 5.0% 5.0% Q1 Q2 H1 Total Comp ▪ Total sales increased by 6.3% to $4.12 billion, with comparable sales up 5.0%, driven by continued customer demand for technology and consumer electronics products, and strong promotional execution ▪ The key growth categories were Mobile Phones, Small Appliances, Games Hardware, Computers and Fitness ▪ Online1 sales increased by 11.2% to $759.0 million or 18.4% of total sales (HY25: 17.6%) ▪ Gross profit increased by 6.9% to $904.5 million with gross margin up 11 bps to 21.95%, driven by improvements in key product categories ▪ CODB was 11.81%, up 5 bps, and in absolute terms grew 6.8%, with continued disciplined cost control and investment in new stores and strategic initiatives ▪ EBIT increased by 7.7% to $340.9 million with EBIT margin up 11 bps to 8.27% HY26 Sales JB HI-FI Australia HY26 Performance SALES GROWTH BY QUARTER 1 Online sales includes web chat and over the phone sales HY26 Earnings For personal use only
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JB HI-FI LIMITED PAGE 12 JB HI-FI New Zealand HY26 Performance Sales ($m) 268.6 202.5 32.6% ▲ Gross Profit ($m) 45.8 34.5 32.8% ▲ Gross Margin (%) 17.05% 17.03% +2 bps ▲ Cost of Doing Business (%) 12.73% 13.83% (110 bps) ▼ EBITDA ($m) 11.6 6.5 79.2% ▲ EBITDA Margin (%) 4.33% 3.20% +112 bps ▲ EBIT ($m) 4.5 2.2 104.5% ▲ EBIT Margin (%) 1.69% 1.09% +59 bps ▲ HY26 HY25 GrowthNZD For personal use only
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JB HI-FI LIMITED PAGE 13 39.3% 28.7% 32.6% 24.3% 17.8% 20.2% Q1 Q2 H1 Total Comp ▪ Total sales increased by 32.6% to NZD268.6 million, with comparable sales up 20.2%, as the business continues to resonate with customers and expand its reach ▪ The key growth categories were Mobile Phones, Computers, Small Appliances and Audio ▪ Online1 sales increased by 47.7% to NZD47.8 million or 17.8% of total sales (HY25: 16.0%) ▪ Gross profit increased by 32.8% to NZD45.8 million with gross margin up 2 bps to 17.05% ▪ CODB was 12.73%, down 110 bps, and in absolute terms grew 22.0%, with continued investment in new stores and strategic initiatives ▪ Operating leverage from sales growth and disciplined cost control resulted in EBIT of NZD4.5 million, up 104.5%, with EBIT margin up 59 bps to 1.69% HY26 Sales JB HI-FI New Zealand HY26 Performance SALES GROWTH BY QUARTER 1 Online sales includes web chat and over the phone sales HY26 Earnings For personal use only
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JB HI-FI LIMITED PAGE 14 The Good Guys HY26 Performance Sales ($m) 1,581.0 1,518.8 4.1% ▲ Gross Profit ($m) 368.8 351.1 5.0% ▲ Gross Margin (%) 23.32% 23.12% +20 bps ▲ Cost of Doing Business (%) 13.58% 13.58% (1 bps) ▼ EBITDA ($m) 154.1 144.8 6.4% ▲ EBITDA Margin (%) 9.75% 9.54% +21 bps ▲ EBIT ($m) 107.4 99.5 8.0% ▲ EBIT Margin (%) 6.79% 6.55% +24 bps ▲ AUD HY26 HY25 Growth For personal use only
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JB HI-FI LIMITED PAGE 15 2.5% 5.3% 4.1% 2.4% 5.3% 4.0% Q1 Q2 H1 Total Comp ▪ Total sales increased by 4.1% to $1.58 billion, with comparable sales up 4.0%, driven by continued customer demand for home appliance products, and supported by well-executed Black Friday and Boxing Day promotional periods ▪ The key growth categories were Portable Appliances, Floorcare, Cooking, Refrigeration and Laundry ▪ Online1 sales increased by 14.0% to $266.1 million or 16.8% of total sales (HY25: 15.4%) ▪ Gross profit increased by 5.0% to $368.8 million with gross margin up 20 bps to 23.32%, driven by improvements in key product categories ▪ CODB was 13.58%, down 1 bp, and in absolute terms grew 4.0%, with continued disciplined cost control ▪ EBIT increased by 8.0% to $107.4 million, with EBIT margin up 24 bps to 6.79% HY26 Sales The Good Guys HY26 Performance SALES GROWTH BY QUARTER 1 Online sales includes web chat and over the phone sales HY26 Earnings For personal use only
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JB HI-FI LIMITED PAGE 16 e&s HY26 Performance Sales ($m) 144.8 92.3 56.8% ▲ Gross Profit ($m) 43.4 25.3 71.8% ▲ Gross Margin (%) 29.96% 27.35% +261 bps ▲ Cost of Doing Business (%) 25.26% 22.43% +283 bps ▲ EBITDA ($m) 6.8 4.6 49.1% ▲ EBITDA Margin (%) 4.70% 4.94% (24 bps) ▼ EBIT ($m) 1.7 1.9 (11.3%) ▼ EBIT Margin (%) 1.15% 2.03% (88 bps) ▼ AUD HY26 HY25 Growth 1 HY25 e&s results are presented for the period of ownership (2 September 2024 to 31 December 2024) 1 For personal use only
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JB HI-FI LIMITED PAGE 17 4.1% 1.8% 2.9% 0.7% (1.0%) (0.1%) Q1 Q2 H1 Total Comp ▪ Total sales for the six months to 31 December 2025 were $144.8 million ▪ In HY25, the Group consolidated four months’ sales and as a result, on a statutory basis, sales were up 56.8% ▪ For comparative purposes for the full six months, total sales were up 2.9%, with comparable sales down 0.1% ▪ Gross profit was $43.4 million with gross margin at 29.96%, up 261 bps, driven by sales mix ▪ CODB was 25.26%, up 283 bps, driven by investments in new stores and the Commercial division ▪ EBIT was $1.7 million, in line with the Group’s expectations, as the business invests in strategic initiatives HY26 Sales e&s HY26 Performance SALES GROWTH BY QUARTER HY26 Earnings For personal use only
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3. Balance Sheet and Cash Flow For personal use only
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JB HI-FI LIMITED PAGE 19 ▪ Inventory was $1.41 billion, up 6.7% or $88.4 million year on year, in line with sales growth ▪ Inventory turnover was down 21 bps to 6.93x (HY25: 7.13x) ▪ Payables, which ordinarily would move in line with Inventory, were up 1.7% or $20.0 million year on year, cycling an elevated payables position in the pcp ▪ As a result, Net Working Capital was negative $67.0 million, up $97.9 million year on year, and has returned to normal levels 1 Net Cash / (Net Debt) excluding AASB 16 Lease Liability Group Balance Sheet and Cash Flow Group Balance Sheet AUDm HY26 FY25 HY25 Cash 489.5 284.1 556.4 Receivables 242.1 186.5 205.5 Inventories 1,408.9 1,298.5 1,320.5 Other 59.2 46.5 50.9 Total Current Assets 2,199.7 1,815.6 2,133.3 Fixed Assets 237.4 224.8 214.0 Intangibles & Goodwill 1,080.7 1,080.7 1,080.7 Right of Use Asset 656.2 638.7 619.8 Other 128.7 122.9 119.3 Total Non-Current Assets 2,103.0 2,067.1 2,033.8 Total Assets 4,302.7 3,882.7 4,167.1 Payables 1,193.6 893.4 1,173.6 Borrowings - - 0.3 Lease Liabilities 206.6 201.2 195.3 Other 500.5 457.5 493.8 Total Current Liabilities 1,900.7 1,552.1 1,863.0 Borrowings - - 1.0 Lease Liabilities 523.8 513.2 495.4 Other 194.8 195.6 187.5 Total Non-Current Liabilities 718.6 708.8 683.9 Total Liabilities 2,619.3 2,260.9 2,546.9 Net Assets 1,683.4 1,621.8 1,620.2 Net Cash / (Net Debt)1 489.5 284.1 555.1 Net Working Capital (67.0) 75.6 (164.9) For personal use only
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JB HI-FI LIMITED PAGE 20 Group Cash Flow Statement ▪ Operating cash flows and operating cash conversion, whilst down year on year due to the normalisation of working capital, continue to be strong ▪ Capex was $46.9 million, up 20.7% or $8.0 million year on year, with investment in the store portfolio, online and strategic initiatives ▪ Dividends paid of $224.1 million, including a special dividend of 100 cps or $109.3 million ▪ Net Cash was $489.5 million. In line with prior years, Net Cash at 31 December is seasonally high Group Performance Indicators 1 Free Cash Flow = Net Cash Flow from Operations less Purchases of P&E (net) and Repayment of Lease Liabilities 2 Net Cash / (Net Debt) excluding AASB 16 Lease Liability 3 Pre AASB16 4 Rolling 12 month EBIT Group Balance Sheet and Cash Flow AUDm HY26 HY25 EBITDA 589.0 545.9 Change in working capital 141.7 229.4 Net interest received / (paid) on borrowings 3.6 5.6 Interest on lease liabilities (19.2) (16.8) Income tax paid (115.6) (117.9) Other 9.7 9.5 Net Cash Flow from Operations 609.1 655.6 Purchases of P&E (net) (46.9) (38.9) Investments (net of cash acquired) - (40.8) Net Cash Flow from Investing (46.9) (79.7) (Repayment) / proceeds from borrowings - (15.0) Payment of lease liabilities (105.2) (101.1) Shares acquired by the employee share trust (26.9) (20.9) Dividends paid (224.1) (200.1) Net Cash Flow from Financing (356.2) (337.1) Net Change in Cash Position 206.0 238.8 Effect of exchange rates (0.6) (0.1) Cash at the end of Period 489.5 556.4 Free Cash Flow 1 457.0 515.7 Net Cash / (Net Debt) at the end of Period 2 489.5 555.1 HY26 HY25 Fixed Charge Ratio 3 3.9x 3.9x Interest Cover 3 566.6x 412.7x Gearing Ratio 3 0.0 0.0 Return on Invested Capital 4 61.0% 63.9% For personal use only
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JB HI-FI LIMITED PAGE 21 Capital Management ▪ As announced in August 2025, from FY26 the Board increased the dividend payout ratio from 65% to a range of 70-80% of NPAT1 ▪ The interim dividend is 210 cents per share (cps) fully franked, up 40 cps or 23.5% and represents 75% of NPAT1 ▪ The record date for the interim dividend is 27 February 2026, with payment to be made on 13 March 2026 ▪ The Group continues to maintain a strong balance sheet. The Board will continue to regularly review the Group’s capital structure with a focus on maximising returns to shareholders and maintaining balance sheet strength and flexibility Group Balance Sheet and Cash Flow 1 Attributable to the owners of JB Hi-Fi Limited INTERIM DIVIDEND UP 23.5% TO 210 CPS 163cps 197cps 158cps 170cps 210cps HY22 HY23 HY24 HY25 HY26 For personal use only
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4. FY26 Trading Update For personal use only
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JB HI-FI LIMITED PAGE 23 4.0% 26.4% 2.7% (4.6%) 2.4% 16.7% 2.7% (7.9%) JB Hi-Fi Australia JB Hi-Fi New Zealand The Good Guys e&s January 2026 sales update The Group provides the following sales update for the period 1 January 2026 to 31 January 2026 ▪ Total sales growth for JB HI-FI Australia was 4.0% with comparable sales growth of 2.4% ▪ Total sales growth for JB HI-FI New Zealand was 26.4% with comparable sales growth of 16.7% ▪ Total sales growth for The Good Guys was 2.7% with comparable sales growth of 2.7% ▪ Total sales growth for e&s was -4.6% with comparable sales growth of -7.9% Whilst the Group is pleased to see sales growth continue in January in JB Hi-Fi and The Good Guys, cycling strong sales in the prior year, it remains cautious given the uncertainty in the retail market and the continued competitive activity Group FY26 Trading Update JANUARY SALES GROWTH For personal use only
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5. Group Focus Areas For personal use only
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JB HI-FI LIMITED PAGE 25 The Group continues to leverage and evolve its unique offer and capabilities Group Focus Areas Group FY26 Focus Areas Brand Reach ▪ JB Hi-Fi New Zealand expansion - 3 new stores and 1 relocation in FY26 ▪ e&s integration and expansion - 1 new store in FY26 ▪ JB Hi-Fi Australia - 4 new stores and 1 closure in FY26 ▪ The Good Guys - No new stores and 1 major relocation in FY26 ▪ Commercial growth - expand customer base CUSTOMER FIRST Retail Execution ▪ Prove value - actively promote and demonstrate value ▪ Keep it simple - focus on the metrics that matter ▪ Customer engagement - create engaging in-store experiences ▪ Operational efficiencies - drive operational efficiencies to re-invest in customer facing roles Multichannel ▪ Online - leverage the significant online traffic ▪ Marketplace - expand range and drive awareness ▪ Membership programs - deliver personalization at scale ▪ Enhance sales channels - create consistent customer experiences across channels Supply Chain ▪ Delivery options - create best in class customer experiences ▪ Optimize inventory flow - enhanced stock availability during peak trade periods ▪ Evolve supply chain network - align to multichannel strategy and improve flow of bulky products For personal use only
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6. Investment Checklist For personal use only
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JB HI-FI LIMITED PAGE 27 Investment Checklist Unique and relevant brands Flexible business model – history of category growth and development Diverse and resilient product categories across brands Scale operator, market leader Global best in class metrics including low cost of doing business and high sales per square metre Unique team culture and unrivalled customer service Multichannel capability built around high-quality store portfolio Experienced management team Shareholder return focused – through proactive capital management and dividend policies High return on invested capital For personal use only
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Appendices For personal use only
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JB HI-FI LIMITED PAGE 29 AUDm JB HI-FI AUST JB HI-FI NZ (NZD) The Good Guys e&s Group JB HI-FI AUST JB HI-FI NZ (NZD) The Good Guys e&s Group \ Sales 4,120.5 268.6 1,581.0 144.8 6,085.3 3,875.2 202.5 1,518.8 92.3 5,670.4 7.3% ▲ Gross Profit 904.5 45.8 368.8 43.4 1,357.4 846.4 34.5 351.1 25.3 1,254.2 8.2% ▲ Gross Margin 21.95% 17.05% 23.32% 29.96% 22.31% 21.84% 17.03% 23.12% 27.35% 22.12% +19 bps ▲ EBITDA 417.8 11.6 154.1 6.8 589.0 390.6 6.5 144.8 4.6 545.9 7.9% ▲ Depreciation on Fixed Assets 18.3 2.1 10.8 1.0 32.0 18.0 1.1 10.1 0.6 29.6 8.1% ▲ Depreciation on Right of Use Assets 58.6 5.0 35.9 4.1 103.0 56.1 3.2 35.2 2.1 96.4 6.9% ▲ EBIT 340.9 4.5 107.4 1.7 454.0 316.5 2.2 99.5 1.9 419.9 8.1% ▲ EBIT Margin 8.27% 1.69% 6.79% 1.15% 7.46% 8.17% 1.09% 6.55% 2.03% 7.40% +6 bps ▲ Interest on Lease Liabilities 9.5 0.9 7.9 1.0 19.2 9.6 0.7 6.1 0.4 16.8 14.9% ▲ Net Interest on Borrowings - - - - (3.0) - - - - (5.8) (48.4%) ▼ Profit before Tax 331.4 3.6 99.5 0.7 437.8 306.9 1.5 93.4 1.5 408.9 7.1% ▲ Tax Expense 131.9 123.2 7.1% NPAT 305.9 285.7 7.1% ▲ NPAT attributable to Equity holders of the parent 305.8 285.4 7.1% ▲ Non-controlling interests 0.1 0.3 (54.4%) ▼ Headline Statistics: Ordinary dividends per share (¢) 210.0 170.0 23.5% ▲ Earnings per share (basic ¢)1 279.7 261.1 7.1% ▲ Cost of Doing Business 11.81% 12.73% 13.58% 25.26% 12.63% 11.76% 13.83% 13.58% 22.43% 12.49% +13 bps ▲ Stores 208 24 107 13 352 206 23 107 12 348 +4 stores HY26 HY25 Growth Group Profit and Loss – Breakdown Appendix I 1 Attributable to the owners of JB Hi-Fi Limited 2 As at 30 June 2025 2 2 2 2 For personal use only
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JB HI-FI LIMITED PAGE 30 a) 5 year Group Profit and Loss Appendix II 1 Attributable to the owners of JB HI-FI Limited AUDm HY26 HY25 HY24 HY23 HY22 Sales 6,085.3 5,670.4 5,162.1 5,278.5 4,861.8 Gross Profit 1,357.4 1,254.2 1,146.8 1,201.8 1,064.4 Gross Margin 22.31% 22.12% 22.21% 22.77% 21.89% EBITDA 589.0 545.9 505.2 592.6 529.0 Depreciation on Fixed Assets 32.0 29.6 29.1 26.3 27.8 Depreciation on Right of Use Assets 103.0 96.4 89.4 87.0 80.6 EBIT 454.0 419.9 386.7 479.2 420.5 EBIT Margin 7.46% 7.40% 7.49% 9.08% 8.65% Interest on Lease Liabilities 19.2 16.8 13.9 9.4 9.7 Net Interest on Borrowings (3.0) (5.8) (4.5) (0.4) 0.3 Profit before Tax 437.8 408.9 377.3 470.2 410.5 Tax Expense 131.9 123.2 113.0 140.3 122.6 NPAT 305.9 285.7 264.3 329.9 287.9 NPAT attributable to Equity holders of the parent 305.8 285.4 264.3 329.9 287.9 Non-controlling interests 0.1 0.3 - - - Headline Statistics: Ordinary dividends per share (¢) 210.0 170.0 158.0 197.0 163.0 Earnings per share (basic ¢)1 279.7 261.1 241.8 301.8 250.6 Cost of Doing Business 12.63% 12.49% 12.43% 11.54% 11.01% For personal use only
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JB HI-FI LIMITED PAGE 31 b) 5 year JB HI-FI Australia Profit and Loss Appendix II AUDm HY26 HY25 HY24 HY23 HY22 Sales 4,120.5 3,875.2 3,615.1 3,588.8 3,290.5 Gross Profit 904.5 846.4 795.6 820.0 716.3 Gross Margin 21.95% 21.84% 22.01% 22.85% 21.77% EBITDA 417.8 390.6 366.6 412.2 361.4 Depreciation on Fixed Assets 18.3 18.0 19.1 20.4 20.6 Depreciation on Right of Use Assets 58.6 56.1 52.9 50.4 48.4 EBIT 340.9 316.5 294.6 341.3 292.4 EBIT Margin 8.27% 8.17% 8.15% 9.51% 8.89% Interest on Lease Liabilities 9.5 9.6 8.4 5.7 5.7 Profit before Tax 331.4 306.9 286.2 335.6 286.7 Headline Statistics: Cost of Doing Business 11.81% 11.76% 11.87% 11.36% 10.79% Stores 208 206 204 202 199 For personal use only
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JB HI-FI LIMITED PAGE 32 c) 5 year JB HI-FI New Zealand Profit and Loss Appendix II NZDm HY26 HY25 HY24 HY23 HY22 Sales 268.6 202.5 168.7 160.6 138.4 Gross Profit 45.8 34.5 28.2 25.9 24.2 Gross Margin 17.05% 17.03% 16.70% 16.12% 17.49% EBITDA 11.6 6.5 2.5 5.7 7.4 Depreciation on Fixed Assets 2.1 1.1 0.4 0.0 0.2 Depreciation on Right of Use Assets 5.0 3.2 2.5 0.3 (0.2) EBIT 4.5 2.2 (0.4) 5.4 7.3 EBIT Margin 1.69% 1.09% (0.26%) 3.34% 5.28% Interest on Lease Liabilities 0.9 0.7 0.7 0.2 0.2 Profit before Tax 3.6 1.5 (1.2) 5.2 7.1 Headline Statistics: Cost of Doing Business 12.73% 13.83% 15.20% 12.56% 12.16% Stores 24 21 17 14 14 For personal use only
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JB HI-FI LIMITED PAGE 33 d) 5 year The Good Guys Profit and Loss Appendix II AUDm HY26 HY25 HY24 HY23 HY22 Sales 1,581.0 1,518.8 1,390.9 1,544.0 1,439.4 Gross Profit 368.8 351.1 325.0 358.4 324.9 Gross Margin 23.32% 23.12% 23.37% 23.21% 22.58% EBITDA 154.1 144.8 136.2 175.2 160.5 Depreciation on Fixed Assets 10.8 10.1 9.7 8.7 7.0 Depreciation on Right of Use Assets 35.9 35.2 34.0 33.4 32.4 EBIT 107.4 99.5 92.5 133.0 121.1 EBIT Margin 6.79% 6.55% 6.65% 8.62% 8.42% Interest on Lease Liabilities 7.9 6.1 4.8 3.5 3.8 Profit before Tax 99.5 93.4 87.7 129.5 117.3 Headline Statistics: Cost of Doing Business 13.58% 13.58% 13.58% 11.87% 11.42% Stores 107 107 106 106 106 For personal use only
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JB HI-FI LIMITED PAGE 34 e) 5 year Group Balance Sheet 1 Net Cash / (Net Debt) excluding AASB 16 Lease Liability Appendix II AUDm HY26 HY25 HY24 HY23 HY22 Cash 489.5 556.4 488.0 391.2 844.5 Receivables 242.1 205.5 178.2 174.3 133.1 Inventories 1,408.9 1,320.5 1,163.8 1,211.4 1,064.8 Other 59.2 50.9 43.9 37.2 32.0 Total Current Assets 2,199.7 2,133.3 1,873.9 1,814.1 2,074.4 Fixed Assets 237.4 214.0 190.3 173.7 171.7 Intangibles & Goodwill 1,080.7 1,080.7 1,031.4 1,031.4 1,031.4 Right of Use Asset 656.2 619.8 548.6 488.9 518.9 Other 128.7 119.3 99.0 90.5 74.5 Total Non-Current Assets 2,103.0 2,033.8 1,869.3 1,784.5 1,796.5 Total Assets 4,302.7 4,167.1 3,743.2 3,598.6 3,870.9 Payables 1,193.6 1,173.6 1,004.6 1,048.4 1,235.4 Borrowings - 0.3 - - - Lease Liabilities 206.6 195.3 182.5 167.6 174.6 Other 500.5 493.8 411.7 408.0 442.2 Total Current Liabilities 1,900.7 1,863.0 1,598.8 1,624.0 1,852.2 Borrowings - 1.0 - - - Lease Liabilities 523.8 495.4 441.4 397.9 433.2 Other 194.8 187.5 153.8 143.2 131.2 Total Non-Current Liabilities 718.6 683.9 595.2 541.1 564.4 Total Liabilities 2,619.3 2,546.9 2,194.0 2,165.1 2,416.6 Net Assets 1,683.4 1,620.2 1,549.2 1,433.5 1,454.3 Net Cash / (Net Debt)1 489.5 555.1 488.0 391.2 844.5 Net Working Capital (67.0) (164.9) (98.2) (86.0) (480.1) For personal use only
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JB HI-FI LIMITED PAGE 35 f) 5 year Group Cash Flow 1 Free Cash Flow = Net Cash Flow from Operations less Purchases of P&E (net) and Repayment of lease liabilities Appendix II AUDm HY26 HY25 HY24 HY23 HY22 EBITDA 589.0 545.9 505.2 592.6 529.0 Change in working capital 141.7 229.4 217.2 208.1 482.3 Net interest received / (paid) on borrowings 3.6 5.6 4.7 0.8 (0.1) Interest on lease liabilities (19.2) (16.8) (13.9) (9.4) (9.7) Income tax paid (115.6) (117.9) (89.0) (163.9) (158.4) Other 9.7 9.5 7.7 7.1 7.1 Net Cash Flow from Operations 609.1 655.6 631.8 635.1 850.2 Purchases of P&E (net) (46.9) (38.9) (36.6) (34.0) (30.9) Investments (net of cash acquired) - (40.8) - - - Net Cash Flow from Investing (46.9) (79.7) (36.6) (34.0) (30.9) (Repayment) / proceeds from borrowings - (15.0) (50.0) (60.0) - Payment of lease liabilities (105.2) (101.1) (91.9) (91.1) (87.0) Off-market share buy-back - - - (0.4) - Shares acquired by the employee share trust (26.9) (20.9) (17.0) (17.3) (27.9) Dividends Paid (224.1) (200.1) (125.7) (167.3) (122.9) Net Cash Flow from Financing (356.2) (337.1) (284.6) (336.1) (237.8) Net Change in Cash Position 206.0 238.8 310.6 265.0 581.5 Effect of exchange rates (0.6) (0.1) 0.1 0.6 (0.2) Cash at the end of Period 489.5 556.4 488.0 391.2 844.5 Free Cash Flow1 457.0 515.7 503.3 510.0 732.3 For personal use only
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JB HI-FI LIMITED PAGE 36 g) 5 year Group CODB reconciliation Appendix II AUDm HY26 HY25 HY24 HY23 HY22 Other income (ex interest revenue) (2.9) (0.2) (1.0) (1.6) (1.8) Sales and marketing expenses 644.6 595.2 532.7 504.5 448.3 Occupancy expenses 184.7 170.5 166.6 160.0 148.5 less depreciation, amortisation & impairment (128.1) (119.9) (113.0) (108.6) (103.8) Administration expenses 28.7 27.3 23.9 25.2 20.7 less depreciation & impairment (6.9) (6.1) (5.4) (4.7) (4.7) Other expenses 48.2 41.4 37.9 34.5 28.2 CODB 768.3 708.3 641.7 609.3 535.4 Sales 6,085.3 5,670.4 5,162.1 5,278.5 4,861.8 CODB (% of sales) 12.63% 12.49% 12.43% 11.54% 11.01% For personal use only
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JB HI-FI LIMITED PAGE 37 1 2 14 24 5 14 24 41 30 61 3 5 28 58 24 352 stores across Australia and New Zealand1 Group store reconciliation Appendix III 1 As at 31 December 2025 11 1 2 3 1 Opened Closed Total JB Hi-Fi Australia 206 3 (1) 208- JB Hi-Fi New Zealand 23 1 - 24- The Good Guys 107 - - 107 e&s 12 1 - 13 TOTAL 348 5 (1) 352 FY25 HY26 For personal use only
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JB HI-FI LIMITED PAGE 38 Important Notice and Disclaimer The material in this presentation is general background information about JB Hi-Fi Limited (ACN 093 220 136) (JB Hi-Fi) and its activities current as at the date of the presentation, 16th February 2026. It is information given in summary form and does not purport to be complete. It should be read in conjunction with JB Hi-Fi’s other periodic and continuous disclosure announcements filed with the Australian Securities Exchange, which are available at www.asx.com.au. Information in this presentation is not intended to be relied upon as advice to investors or potential investors and does not consider the investment objectives, financial situation or needs of any particular investor. Investors should consider these factors, and consult with their own legal, tax, business and/or financial advisor in connection with any investment decision. This presentation has not been audited in accordance with Australian Auditing Standards. This presentation contains statements that are, or may be deemed to be, forward looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of JB Hi-Fi, which may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. The operating and financial performance of JB Hi-Fi is influenced by a variety of general economic and business conditions, including levels of consumer spending, inflation, interest and exchange rates, access to debt and capital markets, government fiscal, monetary and regulatory policies. No representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, JB Hi-Fi and its related bodies corporate, respective directors, employees or agents, and any other person does not accept liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability from fault or negligence. For personal use only