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24 August 2026 1 FY26 RESULTS Presentation Steven Boland - CEO Andrew Crowther - CFO Matt Caporella - COO Raising the Standard in Construction. Acrow Ltd (ASX:ACF)
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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 information contained in this presentation was prepared as of its date and remains subject to change without notice. This presentation has been provided to you solely for the purpose of giving you background information about Acrow Limited (“Acrow”). No representation or warranty, express or implied, is made as to the accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this presentation. Neither Acrow, its related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, related bodies corporate, affiliates, agents or advisers makes any representations or warranties that this presentation is complete or that it contains all material information about Acrow or which a prospective investor or purchaser may require in evaluating a possible investment in Acrow or acquisition of shares. To the maximum extent permitted by law, none of those persons accept any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of information contained in this presentation or in relation to the accuracy or completeness of the information, statements, opinions or matters, express or implied, contained in, arising out of or derived from, or for omissions from, this presentation. Acrow has not independently verified any of the contents of this presentation (including, without limitation, any of the information attributed to third parties). No person is under any obligation to update this presentation at any time after its release to you. Certain statements in this presentation may constitute forward-looking statements or statements about future matters that are based upon information known and assumptions made as of the date of this presentation. Forward looking statements can generally be identified by the use of forward-looking words such as, “expect”, “anticipate”, “likely”, “intend”, “should” , “could”, “may”, “predict”, “plan”, “propose”, “will”, “believe”, “forecast”, “estimate”, “target” and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Actual results may differ materially from any future results or performance expressed, predicted or implied by the statements contained in this presentation. As such, undue reliance should not be placed on any forward-looking statement. Past performance is not necessarily a guide to future performance. Nothing contained in this presentation, nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee, whether as to the past, present or future. This presentation is not, and does not constitute, an offer to sell or the solicitation, invitation or recommendation to purchase any securities in Acrow and neither this presentation nor any of the information contained herein shall form the basis of any contract or commitment. In particular, this presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. This presentation may not be reproduced or redistributed to any other person. In receiving this presentation, each recipient agrees to the foregoing terms and conditions. This Presentation was approved by the Acrow Board of Directors DISCLAIMER For further information, please contact: Steven Boland Managing Director Andrew Crowther CFO 2
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ACROW OVERVIEW 1950 Apr 2018 6 states 17 1500+ clients Civil infrastructure Commercial & High Rise Residential Industrial, Mining, Energy, Utilities, Defence & Marine SECTORS SERVICED GEOGRAPHIC FOOTPRINT PRODUCT RANGE QUALITY OF OUR PEOPLE ENGINEERING EXPERTISE & SOLUTIONS COMPETITIVE ADVANTAGES 63 engineers Acrow is a leading provider of products and services to the Australian construction and industrial markets ASX listing Apr 18 Acquired Uni-span Oct 19 Acquired Premium screens Apr 23 Acquired Benchmark Scaffold Mar 24 Acquired MI Scaffold Nov 23 First Jumpform contract Oct 22 Acquired Natform screens Aug 18 Acquired ATEC Feb 25 Acquired Brand Aust and Above Scaffolding Apr 25 OUR JOURNEY SO FAR 3 Anchorage Capital Partners acquires Acrow 2011 New CEO is appointed Steven Boland 2013 Boral Formwork & Scaffold Pre 2011 Acquired Preston and Ausgroup Jun 26 1538 staff
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KEY FY26 HIGHLIGHTS Steven Boland, MD & CEO Landmark, St Leonards, NSW 4
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JUMPFORM AND SCREENS GROWTH Preston’s SuperDeck loading platforms and Ausgroup industrial access businesses acquired TWO COMPLEMENTARY ACQUISITIONS Industrial Access revenue exceeds $200m, up 53% on PCP INDUSTRIAL ACCESS - RECURRING REVENUE RECORD NATIONAL FORMWORK HALF YEAR Second half FY26 record formwork revenue - up 26% half on half COLUMN CLIMBER Cypress project Column Climber successfully deployed. Game changing system Jumpform and Screens revenue at record levels HIRE EQUIPMENT PIPELINE GROWTH Hire equipment pipeline increased by +33% to $290m 5 KEY OPERATIONAL ACHIEVEMENTS FY26 (SETTLED POST 30 JUNE)
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FY25 FY26 0 20 40 60 80 100 $m 97.2 95.7 FY25 FY26 0 50 100 150 200 250 300 $m 217.5 289.7 HIRE CONTRACTS WON CURRENT PIPELINE +33% 1. 1.Comprises tenders and quotes provided. Does not include the labour hire component of Industrial Access Division and shutdown work -2% 6 SECURED HIRE CONTRACTS AND PIPELINE Record pipeline continues
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FY24 FY25 FY26 0.0 0.5 1.0 1.5 2.0 1.0 0.0 2.0 FY24 FY25 FY26 0 2 4 6 8 10 12 14 5.0 6.0 13.0 FY24 FY25 FY26 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.1 0.0 0.9 FY24 FY25 FY26 0 1 2 3 4 5 6 5.7 4.4 5.9 LOST TIME INJURIES TOTAL RECORDABLE INJURIES LTIFR 3 1. 12 months rolling figures 2.Total Recordable Injury Frequency Rate 3.Lost Time Injury Frequency Rate TRIFR 2 1 FY24 FY25 FY26 0.0 0.5 1.0 1.5 2.0 2.5 m Hours 0.9 1.4 2.2 TOTAL HOURS WORKED 7 SAFETY REMAINS A KEY FOCUS
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FY25 FY26 0 50 100 150 200 250 300 350 FY25 FY26 0 10 20 30 40 50 60 FY25 FY26 0 1 2 3 4 5 6 FY25 FY26 0 20 40 60 80 100 FY25 FY26 0 2 4 6 8 10 12 FY25 FY26 0 5 10 15 20 25 30 35 REVENUE $m EBIT $m DPS $265.2 $336.0 $56.3 $51.3 5.85c 3.42c EBITDA $m EPS ¢ $80.2 $80.3 11.27c 8.86c ps 27% 21% NPAT $m $34.7 $27.6 1 1.All metrics are underlying unless otherwise stated. ¢ps 9% Flat 20% 42% 8 KEY FINANCIAL METRICS FY26
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OPERATIONAL UPDATE Steven Boland, MD & CEO Renascent, 2 Park St, NSW 9
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Record group revenue continues with 27% growth Industrial Access exceeds $200m revenue, contributing greater than 60% of Group revenue Group EBITDA flat due to slow activity in the construction division in the first half Margins remain high with the change reflective of revenue mix changes * Refers to percentage point change on PCP REVENUE BY DIVISION 10 DIVISIONAL BREAKDOWN
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* Refers to percentage point change on PCP Gross profit margin down on revenue mix shift Jumpform & Screens revenue at record levels NSW, SA and WA at record revenue levels. VIC operating at acceptable levels. QLD showing significant uplift in 2H on 1H SEGMENTAL REVENUE 11 CONSTRUCTION SERVICES DIVISION Recovery underway with record half-yearly formwork revenue reported in 2H FY26
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$m $m $m FY21 FY22 FY23 FY24 FY25 FY26 0 10 20 30 40 50 9.9 10.3 12.8 17.2 20.8 24.5 23.2 18.5 21.2 21.4 14.4 19.2 FY21 FY22 FY23 FY24 FY25 FY26 0 20 40 60 80 100 120 140 30.1 30.3 35.1 43.6 47.1 54.9 61.3 59.8 54.6 61.0 52.9 66.7 60.4 78.7 102.0 121.1 115.6 119.6 6.7 7.2 7.3 11.6 FY21 FY22 FY23 FY24 FY25 FY26 0 5 10 15 20 25 30 6.7 7.9 7.2 8.3 7.3 10.1 11.6 17.1 11.7 12.4 9.8 11.1 8.9 7.8 11.2 16.6 FY21 FY22 FY23 FY24 FY25 FY26 0 10 20 30 40 8.9 7.9 7.8 8.9 11.2 12.4 16.6 12.7 13.2 17.7 15.2 21.5 FY21 FY22 FY23 FY24 FY25 FY26 0 2 4 6 8 10 1.3 1.7 1.8 2.4 3.9 3.0 2.7 2.8 5.3 4.5 2.1 4.0 5.4 5.4 FY21 FY22 FY23 FY24 FY25 FY26 0 5 10 15 20 3.1 4.0 4.8 5.4 4.7 5.4 7.7 5.4 6.0 7.4 10.0 $m $m 1.State and National numbers include Jumpform and Screens $m QLD FORMWORK REVENUE NSW FORMWORK REVENUE SA FORMWORK REVENUE WA FORMWORK REVENUE VIC FORMWORK REVENUE NATIONAL FORMWORK REVENUE 12 FORMWORK REVENUE BY STATE & NATIONAL 1. 1H 2H 1H 2H
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FY23 FY24 FY25 FY26 0 2 4 6 8 10 12 $m 2.5 1.4 1.5 2.1 4.1 6.3 5.9 5.8 8 FY23 FY24 FY25 FY26 0 2 4 6 8 10 12 $m 3.4 1.6 2.2 5.8 6.5 4.5 5.7 5.5 FY23 FY24 FY25 FY26 0 5 10 15 20 25 $m 4.7 7.3 4.5 9.5 11.8 13.2 8.2 15.4 SCREENS Complementary to Jumpforms 104 Screens projects in progress nationally Growth - entirely organic initiatives 13 FY23 FY24 FY25 FY26 0 5 10 15 20 25 $m 5.3 7.7 8.4 7.6 6.7 8.3 9.7 12.7 JUMPFORM HIRE CONTRACT WINS 28 Jumpform projects in progress nationally 22 projects include Screens supply Current pipeline $97.8m JUMPFORM JUMPFORM REVENUE 135 x towers in progress across Australia SCREEN HIRE CONTRACT WINS SCREEN REVENUE 888 101010 777 111 222 575757 101010 191919 333 151515 CURRENT PROJECTS IN PROGRESS PROJECT WINS BY STATE 1H 2H 1H 2H
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8 14 Tower 1 Acrow perimeter screens installed and progressing successfully Structure has reached level 14 MERITON CYPRESS UPDATE Tower 2 Acrow main Jumpform progressed to Level 17 Acrow Column Climber operating at Level 9 Acrow perimeter screens scheduled for installation from level 16 Project Progress All Acrow climbing systems performing as planned Maintaining consistent weekly climbing cycles Demonstrating the reliability and efficiency of Acrow's self-climbing systems on a major high- rise residential development Time lapse video link: https://www.acrow.com.au/jumpform-videos/
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* Refers to percentage point change on PCP Revenue boosted by acquisitions and organic growth Gross profit margin declined due to lower margin contributions from the Brand Australia business, as well as lower margins generated from the top five national labour contracts. These contracts accounted for 43% of the division's total revenue in FY26, compared to 31% in FY25. Represents 60% of Group revenue from standing start in 2019 SEGMENTAL REVENUE 15 INDUSTRIAL ACCESS DIVISION
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Snowy Hydro 2.0 Major industrial access/scaffolding package supporting the Snowy Hydro 2.0 project $60m contract value — approximately 50% complete Dedicated Cooma operation supporting a significant site workforce and ongoing delivery Further opportunities identified across the project, including Trificator ($10m) and Surge Shaft Elbow FY26 total revenue - $15.8m Ampol | Kent Industrial access/scaffolding services supporting Ampol refinery works $15m contract value — approximately 80% complete Strong example of Acrow’s capability in complex, live energy and process environments FY26 total revenue - $11.7m BMA Bowen Basin & Hay Point Major long-term industrial access and scaffolding services contract Supporting BMA operations across Bowen Basin mine sites and Hay Point Significant recurring maintenance, shutdown and project-based scaffolding requirements Demonstrates Acrow’s growing position in large-scale resources and sustaining capital works FY26 total revenue- $18.7m Labour and product hire - $16.7m Glencore Engineered access supporting plant roof replacement within a fully operational coal processing facility Bespoke suspended QuickDeck platform avoided loading the severely corroded existing roof structure Design, engineering, supply, installation, inspection, modification and dismantling delivered by Acrow Works completed while maintaining plant operations and coordinating gantry cranes, shutdowns and multiple contractors FY26 total revenue - $7.7m Perdaman Urea Plant Industrial access services supporting construction of the Perdaman Urea Project in Karratha, WA $42m contract value — approximately 65% complete Large-scale workforce and scaffold mobilisation supporting sustained project delivery One of Acrow’s largest current industrial access projects FY26 total revenue - $28.0m Sydney Harbour Bridge Current works include the eastern chord, N18–N20 road-deck works, transverse walkway and northern approach rehabilitation Current SHB projects total approximately $11.4m and are 60% complete Complex temporary access delivered around live road, rail and marine operations on one of Australia’s most critical heritage assets FY26 total revenue - $7.5m CURRENT INDUSTRIAL PROJECTS 16
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8 17 Acrow delivered a $7.9m principal contractor package during a critical cooling tower outage Installed 280 tonnes of engineered scaffold infrastructure and 230 structural beams (84 tonnes) Mobilised a peak workforce of 98 personnel across 14 trade groups, delivering approximately 37,700 man- hours Major cooling tower refurbishment works completed within a tightly controlled outage program, with extensive inspection, removal and reinstatement works undertaken Strong project performance has strengthened the client relationship and led to additional works being secured TARONG POWER STATION
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FINANCIALS Andrew Crowther, CFO North East Link 18
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EBITDA flat due to impact of Queensland, offset by higher contribution from Industrial Access Depreciation higher due to elevated capex. (Avg PPE $226.0m compared to PCP $188.7m) Significant items amortisation of intangibles, contingent consideration (earnout), share-based payments, operational integration costs and certain ERP project costs Underlying profit down 20% due predominantly to temporary decline in Queensland construction market, higher depreciation and interest Final dividend of 1.42 cps (100% franked). Full year dividend of 3.42cps (100% franked) * Refers to percentage point change on PCP Interest expense higher on increased average debt ($144.7m vs $95.0m) and lease liability ($41.8m vs $36.5m) EPS underlying down 21% due to 1% increase in weighted average shares Tax expense effective statutory 38% (versus 33%), impacted by capital non-deductible contingent consideration (earn-outs), amortisation of intangibles and integration costs as well as share-based payments PROFIT & LOSS 19
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Cash flow from operations (including ex-hire sales) $57.7m – 72% conversion rate (vs $57.6m and 71% conversion rate) Net debt up $9.8m to $133.0m – predominantly capex, earn-outs and expansion of labour payments in industrial access, offset by $31.3m net proceeds from Tranche 1 of capital raise *EBITDA is calculated on a pre-AASB16 basis Net debt to EBITDA increased from 1.8x at June 2025 to 1.9x at 30 June 2026 Working capital/sales 26.5% versus 26.7% PCP. Impacted by large May/June invoicing. Current Assets $59.8m ($28.7m pre capital raise) vs $6.8m pcp Total assets up $76.7m from capex, large invoicing in May and June, including Industrial Access labour prepayments and $31.3m net proceeds from capital raise 20 BALANCE SHEET Assumes additional net proceeds of $51.2m received from Tranche 2 and SPP, less acquisition costs of $47.8m for SuperDeck and AGIS FY26 Proforma Net debt /EBITDA of 1.6x includes consolidated FY26 EBITDA contribution of $13.0m from acquisitions
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21 NET DEBT BRIDGE Net debt increased by $9.8m during the year to $133.0m, reflecting deliberate capital allocation into growth initiatives EBITDA generated approximately $80.3m of cash benefit during FY26 The majority of cash outflows reflected growth initiatives totalling $42.1m including earn-outs and deferrals - $6.4m (MI + Above), Other significant Items - $4.6m (integrations and improvements) and growth capex Growth capex of $31.1m was primarily directed towards, Jumpforms, Screens and industrial access equipment Working capital investment increased net debt by approximately $20.3m, reflecting growth in activity levels and Industrial Access labour requirements Dividends of $14.1m were maintained while continuing to invest in the business The $31.3m net capital raising proceeds largely funded the settlement of Preston’s in early July 2026
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Jumpform $18.9m Screens $7.9m Stay in business $5.4m Other $2.9m Growth capex of $31.1m and non-growth capex of $5.4mGrowth capex of $31.1m and non-growth capex of $5.4mGrowth capex of $31.1m and non-growth capex of $5.4m 22 FY26 CAPEX SPEND FY26 capex was directed towards strategic and profitableFY26 capex was directed towards strategic and profitable growth areas including industrial access and specialisedgrowth areas including industrial access and specialised systems.systems. FY26 capex was directed towards strategic and profitable growth areas including industrial access and specialised systems. Industrial Access spend was for organic growth opportunitiesIndustrial Access spend was for organic growth opportunities in SA, NSW and North Qld. This was predominantly for ourin SA, NSW and North Qld. This was predominantly for our proprietary Uni-Ring systemproprietary Uni-Ring system Industrial Access spend was for organic growth opportunities in SA, NSW and North Qld. This was predominantly for our proprietary Uni-Ring system Uni-Ring/ Lahyer $1.4m Jumpform and Screens investment to support substantialJumpform and Screens investment to support substantial secured contract winssecured contract wins Jumpform and Screens investment to support substantial secured contract wins FY27 capex budget - $30.0m (excluding ex-hire replacement)FY27 capex budget - $30.0m (excluding ex-hire replacement)FY27 capex budget - $30.0m (excluding ex-hire replacement) ($m)
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GROWTH OPPORTUNITIES Steven Boland, MD & CEO Pinnacle Studios, QLD 23
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SuperDeck® is recognised as the market leader for retractable loading platforms in Australia. This includes: Specialists in retractable loading platforms Offering a developed and proprietary product line, refined and perfected since 2001 National market coverage, enabling flexible solutions, with the ability to mobilise quickly and efficiently 24 Market-leading product, with 30+ years of experience, 70%+ market share, with ~900 decks which have an average lifespan of 25 years The business operates across a highly diversified range of end markets, including building & construction, commercial & industrial, infrastructure, civil, rail, mining, and residential sectors Longstanding relationships with a diversified customer base, with no single client exceeding 11% of revenue The business is expected to generate $11.0m revenue and $6.3m EBITDA in FY26 Revenue and cost synergies are expected to be circa $1.25m over the next 12 months, driven by the strength of the forward order book when combined with the Acrow customer base, as well as depot consolidation ACQUISITION - SUPERDECK®
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Ausgroup Industrial Services (“AGIS”) is a family owned, Queensland‑based integrated industrial services provider supporting mining, ports, energy, mills and the heavy industry 25 AGIS focuses on solutions-based contracting, safety, productivity and innovation, particularly during shutdowns and complex access environments Complementary blue-chip client base including Peabody, Glencore, Anglo American, BHP & BMA. Key contracts include - Anglo American (3 sites) and Dalrymple Bay Coal Terminal (since 2006) The business is expected to generate $40.0m revenue and $6.5m EBITDA in FY26 Synergies are expected to be circa. $1.25m over the next 12 months, providing an annualised uplift of $1.75m, primarily driven by expected returns on the new capital expenditure purchased as part of this transaction and depot consolidation Acquisition cleared by ACCC on 11 August 2026. Settlement anticipated around 31 August 2026 ACQUISITION - AUSGROUP INDUSTRIAL SERVICES
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26 PRODUCT DEVELOPMENT Launched in Feb 2026 Double the load capacity compared to equivalent size competing products and only 20% heavier Acrow internally developed and own all IP Successfully commercialised with projects now underway nationally in all states Supports Acrow's strategy to expand engineering- led temporary works capability in the propping space POWERSHORE 60 National rollout continuing across Industrial Access and Construction Services Now deployed throughout QLD, NSW, WA, SA and VIC Fully compatible with existing ringlock systems Multiple product sales now across, QLD, NSW and VIC Rapid scalability through Acrow-owned IP and multiple manufacturing partners Supporting growth primarily in our Industrial Access business, with opportunities across the infrastructure and civil segments UNI-RING
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27 PRODUCT DEVELOPMENT Extensive fleet compatibility with Acrow’s formwork systems, supporting projects across commercial, industrial and civil markets Capable of providing standalone propping solutions beyond traditional formwork packages Strong pipeline across infrastructure, transport and industrial projects, supported by continued investment in next- generation shoring solutions PROPPING Expanding capability to deliver bespoke engineered solutions where proprietary systems are not suitable End-to-end offering from design through to supply and site support, providing customers with a single point of contact Successfully delivered multiple complex projects incorporating mechanisation and purpose-designed drive systems BESPOKE FORMWORK GROUND SHORING New high-capacity ground shoring system targeted for launch in 1H FY27 Purpose-developed for the Australian market with market-leading strength-to- weight performance Positions Acrow to expand into the heavy- duty ground shoring market, where competition is currently limited
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Industrial Access Revenue FY20 FY21 FY22 FY23 FY24 FY25 FY26 0 50 100 150 200 250 $m 46 40 72 132 201 Longstanding blue-chip customers, including gov’t generating highly recurring maintenance services revenue Industrial Access FY26 Avg. employee head count: (as at 31 July 2025) FTE - 433 Casual - 659 Revenue of $201m represented 60% of group revenue in FY26 Industrial Access Acquisitions: MI Scaffold (Nov-23) Benchmark Scaffolding (Mar-24) Brand Australia (Apr-25) Above Scaffolding (Apr-25) Ausgroup (Aug-26) National business providing access services across industrial, mining, energy, utilities, defence & marine TOWNSVILLE MACKAY GLADSTONE BEENLEIGH OPERATIONS INDUSTRIAL ACCESS BRANCH LOCATIONS KARRATHA SYDNEY HUNTER VALLEY Industrial Depots & Activity 28 Expanded Industrial Access to deliver recurring revenue business BUILDING SUSTAINABLE EARNINGS INDUSTRIAL ACCESS Secured revenue for FY27 - circa. $180m. Total revenue forecast to be circa. $280m
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Acquisition of AGIS significantly expands Acrow's industrial access footprint in Queensland's resource sector Focus on growing WA market organically off the back of the Perdaman contract Continued growth expected across existing maintenance, shutdown and sustaining capital contracts Above Scaffolding creating new opportunities across major infrastructure, transport and civil projects Increased cross-selling of engineering, temporary works, scaffolding, formwork and propping solutions across the Group Continued expansion into Defence, energy and critical infrastructure sectors Uni-Ring industrial scaffold system now nationally deployed, improving scalability, productivity and margins INDUSTRIAL ACCESS Building a larger national industrial services platform 29 INDUSTRIAL ACCESS
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Strong pipeline across Bowen Basin, Mackay, Gladstone and Hay Point Long-term maintenance and shutdown opportunities across: Mining Ports LNG Power generation Processing facilities AGIS acquisition strengthens Acrow's regional presence and customer base Existing industrial access customers creating opportunities for: Formwork Propping Temporary Works Engineering Equipment Hire Continued investment in regional capability, people and equipment INDUSTRIAL ACCESS - REGIONAL Central & North QLD INDUSTRIAL ACCESS30
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8 Future opportunities EOI submitted July 2026 for all future access services to enable bridge maintenance in the lead up to the 2032 Centenary of the opening of the bridge Approx. $400m-$600m worth of packages to be awarded. Above/Acrow is a proven partner and service provider to Transport for NSW in relation to Sydney Harbour Bridge access and has the capability to tender and deliver the services required across all packages Project highlights 13+ years delivering engineered access solutions on the Sydney Harbour Bridge Five consecutive Transport for NSW contracts delivered since 2013, valued at more than $22 million Peak deployment of: 500 tonnes of scaffold and access equipment 35 scaffold personnel 15 support staff 10 site supervisors Maintaining safe bridge operations while supporting critical maintenance across live road, rail, pedestrian and heritage environments SYDNEY HARBOUR BRIDGE 31 INDUSTRIAL ACCESS
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32 Strong national pipeline across commercial, residential and civil infrastructure Continued growth in major transport, health, education and data centre developments Increasing demand for engineered temporary works solutions Cross-selling driving greater utilisation of: Jumpform Screens Formwork Propping Scaffold National engineering capability providing a competitive advantage Well positioned for major infrastructure investment over the next decade CONSTRUCTION Scaffold, formwork, propping & shoring, jumpform & screens CONSTRUCTION
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8 SNOWY HYDRO CURRENT CONTRACT VALUE Project update Major industrial access and scaffolding package supporting Snowy 2.0 Dedicated Cooma operation supporting ongoing project delivery Large site workforce delivering in a complex underground infrastructure environment Strong progress across the current contracted scope Acrow positioned for further packages as the project advances PROJECT COMPLETE DELIVERED TO DATE $60M 50% $30M Future opportunity Upwards of $50m of specialised formwork packages currently under live tender Strong delivery performance positions Acrow to capture further specialised access and temporary works packages across Snowy 2.0. CONSTRUCTION ADDITIONAL OPPORTUNITIES 33
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Multi-year pipeline of works driving growth through to 2030 QUEENSLAND INFRASTRUCTURE | TIMELINE CONSTRUCTION34 *Source: Queensland Major Contractors Association
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QUEENSLAND TRANSPORT & WATER INFRASTRUCTURE Strong existing hire revenue combined with early contractor and design engagement positions Acrow across multiple major Queensland infrastructure programs through 2030 WATER TRANSPORT CURRENT TRANSPORT SECURED/NEAR-TERM MAJOR FORWARD PIPELINE CHAMBERS FLAT WASTEWATER TREATMENT PLANT Logan Water | Downer Construction expected Q4 2026 | ~12 months Acrow-aligned subcontractors in final pricing submissions Near-term opportunity across temporary works requirements COOMERA CONNECTOR | CENTRAL FHHM JV Currently generating ~$100k/month hire revenue Acrow engaged directly with JV + key subcontractors Current works extending to late 2027 ROCKHAMPTON RING ROAD (N) BMD VSL JV Contract being finalised for Fitzroy River Bridge temporary works Delivery scheduled from January 2027 | ~12 months SUNSHINE COAST TO BRISBANE RAIL - THE WAVE STAGE 1 | BROWNFIELDS Procurement underway; Acrow pricing submitted Early engagement with aligned contractors STAGE 1 | GREENFIELDS Acrow engaged directly with JV on temporary works concepts Early design integration into permanent works COOMERA CONNECTOR | SOUTH Seymour Whyte Currently generating ~$30k/month hire revenue Hire activity expected to increase over next 6 months Established position on major SEQ transport program ROCKHAMPTON RING ROAD (S) Acciona Fulton Hogan JV Supplying JV plus bridge subcontractors Rocktown & Robar Works expected to continue through 2028 GATEWAY CONNECT JV | G2BU CPB | BMD | Georgiou Procurement underway Construction activity expected early 2027 STAGE 2 Award expected Oct 2026 2 stations + ~1km tunnel; pricing submitted to all proponents STAGE 3 | METRO Currently under tender Acrow pricing submitted to all proponents 35 CONSTRUCTION
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BRISBANE 2032 | VENUE DEVELOPMENT PIPELINE Early engagement across key venues positions Acrow ahead of major construction activity from 2027 BRISBANE STADIUM Dual ECI | Built/Sacyr & John Holland/BESIX BRISBANE SHOWGROUNDS BRISBANE ATHLETES VILLAGE NATIONAL AQUATIC CENTRE GOLD COAST ARENA REGIONAL & OTHER VENUES Final tenders submitted 30 July 2026 Preferred contractor expected late 2026 Acrow tender submitted via Zico Formwork for jumpform + scaffold BMD secured early works package Hutchinson Builders Grandstand, horse pavilion & accessibility upgrades Construction expected post-Ekka 2026 Works by Acrow- aligned Berlesimo Formwork Lendlease + RNA 6 × 30-storey towers across three stages Acrow submitted Jumpform + Screens package for all six towers Formwork award for Lendlease stage expected late 2026 Piling Q3 2027 | Completion by Jan 2030 Early stages Builder procurement and design progressing Early works expected late 2026 Major construction commencing 2027 AmplifyGC | Built D&C AmplifyGC remains shortlisted contractor Project agreement expected early 2027 Construction to follow Barlow Park | Sunshine Coast Stadium | Other GIICA Venues Barlow Park moving through contractor procurement Sunshine Coast Stadium in design/ procurement Broader venue pipeline predominantly in planning and procurement CONSTRUCTION36
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Diversified pipeline across Australia's largest infrastructure projects Continued investment in major transport, road, rail, water and energy infrastructure nationally Growing demand for integrated temporary works rather than standalone hire products Cross-selling opportunities across: Formwork, Scaffold, Propping & Shoring, Jumpform, Perimeter Screens, Engineering & Design National engineering capability enables Acrow to compete for increasingly complex infrastructure packages NATIONAL CIVIL INFRASTRUCTURE CONSTRUCTION37
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Driving Cross-Selling Across the Acrow Group SPECIALISED SERVICES - CROSS SELLING Integrated Temporary Works Solutions Increasing customer demand for single-source temporary works solutions Cross-selling opportunities expanding across industrial access, construction and civil infrastructure National engineering capability enabling integrated project delivery from concept through to installation Expanding Product Capability Jumpform & Perimeter Screens Continued growth on major high- rise residential and commercial developments Increasing opportunities on major civil infrastructure projects Superdeck Systems (Preston Acquisition) Acquisition expands Acrow's bridge and civil infrastructure offering Proven modular bridge deck formwork system Strong alignment with transport, bridge and major infrastructure projects Creates additional cross-selling opportunities alongside Formwork, Scaffold and Engineering Propping & Shoring Powershore 60 expanding Acrow's capability in heavy-duty temporary works Growing demand for engineered propping solutions independent of traditional formwork packages Revenue Synergies Industrial access creating pathways into formwork and temporary works Formwork projects driving demand for Jumpform, Screens and Propping Civil infrastructure projects leveraging integrated engineering and product solutions Broader product portfolio increasing customer share and project value 38 CONSTRUCTION
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METRIC (Underlying) 1H FY26 ACTUAL 1H FY27 GUIDANCE % CHG ON 1H FY26 FY26 ACTUAL FY27 GUIDANCE %CHG ON FY26 Revenue $155.9m $195m-$215m up 31% $323.6m $410m-$430m up 30% EBITDA $38.0m $50m-55m up 39% $80.3m $105m-$115m up 37% Acrow has upgraded FY27 guidance for revenue and EBITDA by 2% and 4%, respectively. We have also provided 1H FY27 guidance based on early FY27 performance, the strength of the forward order book and the expected contributions of the two recently completed acquisitions. GUIDANCE 1. 1. Based on mid-point 1. 39
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Steven Boland MD & CEO Andrew Crowther CFO ACROW HEAD OFFICE 1300 138 362 2A Mavis Street Revesby NSW 2212 info@acrow.com.au www.acrow.com.au Raising the Standard in Construction. investors@acrow.com.au Investor enquiries & presentation questions Matt Caporella COO CONTACT 40