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AGM Presentation October 2026 Austin Engineering Limited (ASX: ANG)
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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
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Who we are Global mining solutions business with diversified commodity exposure. Employees and contractors worldwide 1,314 50+ years Engineering and manufacturing mining equipment 6 Operating sites across four continents 14 Partner with final assembly companies Trays manufactured 15,500+ P 3
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What we do Design-Led Solutions Innovation Customisation Standard is our Value that adds Global Reach Local Focus P 4
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Where we are 121 87 221 348 537 1,314 Western Australia Queensland North America South America Indonesia Total Workforce FY26 Total Workforce (employees and contractors) workforce & facilities P 5 0 500 1,000 1,500 2,000 FY22 FY23 FY24 FY25 FY26 Total Workforce
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FY26 Results Overview P 6 Earnings decline offset by strong cash generation and balance sheet discipline FY26 performance was materially impacted by operational issues in South America and North America, while cash conversion and net debt improved materially. Earnings decline Cash and balance sheet strength Revenue $329.0m ▼ vs $376.7m pcp EBITDA $20.4m* ▼ vs $43.0m pcp EBIT $10.8m* ▼ vs $33.2m pcp Key drivers • South America: legacy OEM contract and operational inefficiencies • North America: margin pressure from product mix, productivity and outsourcing • APAC: lower tray volumes partly offset by bucket and spare parts growth Operating cash flow $26.7m ▲ vs $2.6m pcp Free cash flow $19.9m ▲ vs ($5.7m) pcp Net debt $5.8m ▼ vs $12.8m FY25 What this demonstrates • Working capital discipline released cash despite lower earnings • Inventory reduction supported operating cash flow and balance sheet flexibility • Low net debt provides capacity to execute the operational recovery plan Investor takeaway FY26 was a reset year. The causes of the earnings decline are identified and being addressed. Cash generation, working capital discipline and reduced net debt provide a stronger platform for FY27 improvement. *FY26 & FY25 excluding FX and for continuing operations.
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32.5 20.3 43.5 43.0 20.4 FY22 FY23 FY24 FY25 FY26 0 5 10 15 20 25 30 35 40 45 50 Group Financial Performance Trend 203 258 313 377 329 0 50 100 150 200 250 300 350 400 FY22 FY23 FY24 FY25 FY26 Revenue EBITDA • The Group’s revenue decreased 12.7%, with a decline across all segments. • APAC revenue was impacted by softer tray volumes partly offset by increases in bucket sales. • North America revenue decline driven by lower tray sales and product mix. • South America revenue impacted by cap on OEM production, offset by increase in services revenue. • The Group’s EBITDA was down across all regions. • APAC EBITDA decline of $8.3m, from lower tray volumes partly offset by continued growth of the buckets and spare parts business. • North America EBITDA reduced by $8.8m, impacted by decline in tray volumes / product mix, production inefficiencies, facility bottlenecks, and contract labour and 3rd party contractors. • South America loss increased to $9.3m, impacted by the loss-making OEM contract, higher labour, contractor and steel costs. P 7 * FY26 & FY25 reported numbers excluded FX
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8 Cash flows reflect continuing & discontinued operations. Strong cash conversion despite earnings decline • Operational cash flow increased significantly to $26.7m, an improvement of $24.1m on the prior year, reflecting the unwind of working capital inventory. • EBITDA to FCF conversion improved materially in the second half to 99% for the full year. • Capex of $6.8m supported the upgrades to US facilities and operational equipment across the business. • Free cash flow of $19.9m after interest, tax and capex. • The cash position was used to fund dividend payments of $7.1m and a share buyback of $1.2m. 20.1 19.1 12.9 (5.3) (6.8) (4.2) (8.3) (9.9) (0.5) 17.1 Opening Cash EBITDA Working capital & other Interest & tax Capex Lease payments Dividends & buyback Net debt & other FX on cash Closing Cash - 10.0 20.0 30.0 40.0 50.0 60.0 Operating Cash Flow $26.7m - Capex $6.8m Free Cash Flow (FCF) $19.9m=
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25 25 8 15 3 18 6 Revenue base diversified by commodity, product and customer type P 9 Commodity FY26 FY25 Oil 18% 18% Copper 25% 22% Iron Ore 25% 25% Coal (Met) 15% 9% Other 6% 6% Gold 8% 15% Coal (Thermal) 3% 5% 62 10 5 10 8 2 2 Product/Service Type FY26 FY25 Bodies 62% 71% Buckets 10% 6% Other Products/Parts 10% 8% Shop Maintenance/Repairs 8% 8% Other Services 2% 2% Chutes 5% 4% Site Maintenance/Repairs 2% 1% 83 1 8 8 Customer Types FY26 FY25 Miners 83% 82% Other 8% 7% OEMs 8% 8% Mining Contractors 1% 3% COMMODITY ($ M) PRODUCT / SERVICE (%) CUSTOMER (%)
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Analysis of Financial Results Sector Analysis Asia-Pacific FY25 FY26 Revenue (continuing operations) $M 173.3 147.1 EBITDA $M 33.2 24.9 EBITDA margin % 19.1% 16.9% • APAC remained the Group’s largest and most profitable region, contributing 44.7% of Group revenue. • The Australian buckets business was a standout, delivering a $17.4 million revenue uplift, increasing from 10% of APAC product revenue in FY25 to 26% in FY26. • APAC continued to diversify its customer revenue mix, with 51% of work now sourced from outside single-customer relationships. • The order book strengthened through the year, with demand increasing in the second half. • Profitability improved in 2H FY26 to 18.7% compared to 1H FY26 of 15.0%, reflecting operational improvements and disciplinedexecution. 107.5 126.8 145.1 173.3 147.1 30 50 70 90 110 130 150 170 190 FY22 FY23 FY24 FY25 FY26 APAC $M Revenue APAC leads group revenue, driven by bucket growth and diversification Analysis of Financial Results P 10 FY26 & FY25 reported numbers excluded FX
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Analysis of Financial Results P 11 North America FY25 FY26 Revenue (continuing operations) $M 146.8 127.0 EBITDA $M 18.3 9.5 EBITDA margin % 12.5% 7.5% Sector Analysis 66.7 75.3 95.5 146.8 127.0 0 20 40 60 80 100 120 140 160 FY22 FY23 FY24 FY25 FY26 N. America $M Revenue • North America contributed approximately 38.6% of Group revenue, finishing the year at $127m, a 13.5% decline on the prior year due to customer replacement cycles and product mix. • Order levels were softer than expected due to customer order delays. Order conversion remains a key FY27 focus. • Product mix remains a challenge, with certain contracts carrying lower margins than others, and the business is actively working to improve the product margins. Operational productivity improved during the year from 62% to 80%, and efficiency gains are progressing. • The US team has implemented an operational improvement plan, focused on better planning, adoption of lean manufacturing principles, setting and measuring KPIs across workstations, investing in new welding technologies and vendor cost reduction initiatives. • 2H FY26 revenue was 22% lower than 1H FY26, however margins improved to 9.5% in 2H FY26 from 5.8% in 1H FY26, reflecting early progress from these initiatives. FY26 & FY25 reported numbers excluded FX North America margins improving as productivity actions take hold Analysis of Financial Results
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Analysis of Financial Results South America FY25 FY26 Revenue (continuing operations) $M 56.6 54.9 EBITDA $M (1.7) (9.3) EBITDA margin % -3.0% -16.9% Sector Analysis • Financial performance was significantly impacted by challenges with the OEM contract, which led to negative margins and reduced facility efficiency. • The OEM contract was renegotiated in March 2026, securing improved pricing and payment terms, with deliveries under the new terms commenced in late June 2026. • A new management team and operational improvement plan are in place, supported by the North American team, to implement operational processes and practices successfully applied at Casper. • The order book remains strong, with orders extending beyond the current calendar year. • Management’s focus is on converting the contract reset and operating controls into improved FY27 performance. 29.2 41.1 51.6 56.6 54.9 0 10 20 30 40 50 60 FY22 FY23 FY24 FY25 FY26 South America $M Revenue Analysis of Financial Results South America reset underway following OEM contract renegotiation P 12 FY26 & FY25 reported numbers excluded FX
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Manufacturing Leadership Customer Focus 3 12Product Leadership Strategy focused on margin recovery, customer growth and product differentiation • 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 business. • New ERP systems being deployed. • Standard work instructions. • Disciplined KPI management. • Focus on delivering customised products to improve mining efficiency. • Mining bucket sales growing across the Group, including for dippers. • austIQ product launched. • Digital systems under development. P 13
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FY27 Outlook P 14
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FY27 BusinessUpdate P 16 APAC +52% | South America +33% | North America -43% APAC Performing well, order book up 52% on pcp • Batam facility operating at 100% capacity • East Coast tray orders secured following sustained sales investment • Diversified customer base and continued international expansion • Secured order for 1 x OEM large dipper bucket manufacture – could grow to ~10 / year South America Gaining traction with order book up 33% on pcp • Positive unaudited YTD EBITDA contribution (before corporate overhead), versus a loss in pcp. This was achieved despite significant disruption from facility flooding in August • Management capability strengthened with specialist manufacturing expertise • Continued focus on productivity and cost management North America Softer 1H FY27; stronger 2H FY27 outlook • Order book down 43% at 30 September, reflecting lower regional activity, while maintaining market share • Cost base rightsized in early October, including furloughs, while retaining skills for expected 2H FY27 and FY28 demand • Key order months are Oct, Nov and Feb – October orders secured to date: $35.3 million Operational and productivity initiatives leading to margin recovery Group order book at 30 September 2026: $139m, up 18% on the prior corresponding period ($118m) Oct month-to-date order intake: $39.7 million
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FY27 Earning Drivers and Guidance P 16 Clear action to restore earnings in FY27 and beyond o South America: OEM contract reset, new management and tighter production controls o North America: productivity gains, lower outsourcing and improved order conversion o APAC: bucket growth, customer diversification and margin discipline o Group: cost control, working capital discipline and embedded operating KPIs FY27 Guidance range reconfirmed o Underlying EBIT from continuing operations, excluding FX, of $17 million to $21 million
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Q & A
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2026 Annual General Meeting austineng.com Thank you for attending - Please join us for tea and coffee