Slides
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FY26 H1 Result Graeme Whickman, CEO & MD and Aaron Canning, CFO 10 February 2026 For personal use only
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Disclaimer Important notices This Presentation has been prepared by Amotiv Limited (ABN 99 004 400 891) ("Amotiv" or "Company"). Summary information This Presentation contains summary information about Amotiv and its activities as at 10 February 2026. The information in the Presentation is of a general nature and does not purport to be complete or to comprise all information which a shareholder or potential investor may require in order to determine whether to deal in Amotiv shares. It should be read in conjunction with Amotiv's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au. Not financial advice This Presentation is for information purposes only and is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or under any other law. This Presentation does not constitute financial, investment, legal, taxation or other advice nor a recommendation to acquire Amotiv shares and it has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information in this Presentation having regard to their own objectives, financial situation and needs and should seek financial, legal and taxation advice as appropriate to their jurisdiction. The Company is not licensed to provide financial advice in respect of its shares. Cooling off rights do not apply to the acquisition of Amotiv shares. Currency All dollar values are in Australian dollars ($) unless stated otherwise. Non-lFRS financial information Amotiv's results are reported under International Financial Reporting Standards (IFRS). This Presentation also includes certain non-lFRS measures including "underlying", "adjusted", "'organic“, "pro-forma“ and other measures that are used internally by management to assess the operational performance of the Group and its businesses. Non-lFRS measures have not been subjected to audit or external review. All numbers designated as "statutory" comply with IFRS and have been reviewed or audited. Past performance Past performance information (including past share price performance) referred to in this Presentation is given for illustrative purposes only and should not be relied upon as an indication of future performance. Future performance This Presentation contains certain "forward-looking statements" including statements regarding our intent, belief or current expectations with respect to the Company's businesses and operations, market conditions, results of operations, financial condition and risk management practices. The words "likely", "expect", "aim", "should", "could", "may", "anticipate", "predict", "believe", "plan" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements, opinions and estimates provided in this Presentation are based on assumptions and contingencies which are subject to change without notice, and may not eventuate, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication of, prediction of, or guarantee of future performance. This Presentation contains statements that are subject to risk factors associated with an investment in Amotiv. Amotiv believes that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to materially differ. For personal use only
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2 Contents Key Messages and Group Performance Highlights 3 Divisional Review 7 Financials 11 Trading Update and Outlook 18 Appendix 21 Supplementary information For personal use only
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3 Key messages Solid result in a challenging environment Strong cashflow and capital management FY26 guidance unchanged1 Amotiv Unified continues to deliver incremental benefits 1. Group revenue growth is expected in FY26 with underlying EBITA of ~$195m. Includes Amotiv Unified net benefits and assumes continuation of prevailing economic and trading conditions and no material adverse events. For personal use only
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4 Underlying EBITA by segment1,2 ($M) Group performance1 - Revenue growth driven by new business wins, ongoing investment in product development and geographical diversification despite headwinds in 4WD and LPE - Underlying EBITA growth primarily impacted by lower 4WD margins due to domestic inflationary pressures and mix. Pricing increases executed in period to support H2 margins - Amotiv Unified partially mitigated margin pressure from domestic cost inflation. Further incremental benefits identified on exit of FY26 - Strong cashflow and capital management drove EPSA, dividend growth, maintained leverage within target range whilst returning ~$48m to shareholders (inclusive of dividends/buyback) - Strong safety performance and progress on emissions reduction 1. Refer to slide 31 for relevant definitions. Movements are relative to the prior corresponding period. 2. Refer to slide 28 for segment financials. (15.2%) 9.4% 6.7% 1.3% (6.4%) (4.9) 98.3 39.9 37.1 26.2 4WD, Accessories & Trailering Lighting, Power & Electrical Powertrain and Undercar Corporate Group Total Revenue +3.3% to $520.5m Underlying EBITA +1.3% to $98.3m Leverage +0.20x to 1.95x Underlying EPSA +5.3% to 44.1c Cash conversion +15.4pps to 91.9% Interim dividend +8.1% to 20.0c Gross margin -1.6pps to 42.4% Safety (TRIFR) -1.39 to 9.75 For personal use only
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5 Operational excellence Enterprise optimisation – ‘Amotiv Unified’ Continued growth in offshore revenue Capital Management Progress on strategic imperatives Thailand Manufacturing Expansion H1 2026 3rd plant commissioning underway to support international growth Continued benefits realised from Amotiv Unified programs +14% vs pcp, reflecting geographic diversification Improved safety, emissions and logistics performance1 Buyback completed, dividend increased 8% to 20.0c 1. Refer to slide 31 for relevant definitions. TRIFR down to 9.75 from 11.14 in the pcp. 850kWp renewable solar energy commissioned in Keysborough, PTU DIFOT improvement post Truganina DC consolidation. For personal use only
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Drivers count on our clever ideas, turned into technical products, to do more and go further 2030 Strategic Imperatives Build a leading integrated 4WD Trailering & Accessories business in Australia while leveraging key expertise to carefully launch a focused global business Simplify and improve via Amotiv Unified to make us more efficient & effective Auto pure-play business servicing large, resilient and defensive total addressable markets Leading brands supported strong NPD investment and market positions Portfolio of largely ICE-agnostic products increasingly sold in global markets Diverse manufacturing footprint capable of serving global markets Solidify & defend our ANZ Lighting, Power and Electrical business while growing a global niche lighting & power business from our established bases Optimise our Powertrain & Undercar portfolio while adding 1-2 adjacent non-ICE categories Management team who are experienced and growth- focused Strong financial health including cash conversion and returns on capital employed Shareholder return focused through active capital management and dividend policy Investor Thesis 6 For personal use only
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Divisional Review Graeme Whickman, CEO & MD For personal use only
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Total Aus. addressable towbar market4 Pick Ups and SUVM+ - CY25 (vehicle units) Margins constrained by muted OE volumes, pricing lag versus domestic inflation, and early-stage South Africa (SA) operations • Revenue up 5.5% as cyclically weaker NVS volumes offset by new business wins - ANZ Pick Up volumes remain flat (excluding BYD Shark)2. Revenue driven by new OE business wins with Aftermarket in line with expectations. Fitment rates remain stable - New business wins include a full period of South Africa and continued AU OE towbar wins - Cruisemaster continues to gain share, partially offset by ongoing weakness in RV/caravan • Underlying EBITA down 15.2% driven by 3.4pps margin reduction largely reflecting - Zone RV $1m doubtful debt provision. Excluding this, margins were down 2.9pps - Delayed price realisation relative to domestic cost inflation. Out of cycle OEM pricing was secured in Q2 with margin benefits expected from H2 - SA margins below mature operations due to intentional excess capacity ahead of future demand growth - Amotiv Unified benefits positively impacted the now-profitable NZ operations Pricing actions and volume-led scaling of offshore facilities supporting margin recovery in H2 FY26+ • OE out of cycle pricing executed in Q2 expected to improve H2 margins • Toyota Hilux expected to commence in H2. Nissan Navara now expected in Q1 FY27 • Continued progress in building relationships with Chinese OEMs3 • Ongoing focus on scaling Thailand and South African operations. Thai manufacturing capacity commissioning to support further international growth and margins • First European towbar contract win (ex Thailand) – Kia EV6 expected from FY27 • US export volumes building with growing U-Haul demand expected into FY27 4WD Accessories and Trailering (4WD)1 1. Refer to slide 31 for relevant definitions. 2. Pick Ups +7% in FY26 H1. Refer slide 22. 3. Currently supplying a broad range of Chinese OEMs and upcoming model launches (excl BYD) including GWM, Chery, JMC, MG and Foton. 4. VFACTs and management estimates. 8 $M FY26 H1 FY25 H1 Change Revenue 189.6 179.7 5.5% Underlying EBITDA 35.3 40.2 (12.2%) Underlying EBITDA margin 18.6% 22.4% (3.8pps) Depreciation (9.1) (9.3) (2.2%) Underlying EBITA 26.2 30.9 (15.2%) Underlying EBITA margin 13.8% 17.2% (3.4pps) 72% 28% BYD Shark = Self supply Other Chinese OEMs = AOV Customers Chinese OEMs are a growing part of AOV’s addressable market Result reflects cyclical and inflation headwinds and investment to support growing offshore revenue Other OEMs 85% 15% Chinese OEMs~420K units2 For personal use only
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Lighting, Power & Electrical (LPE)1 Challenging ANZ market dynamics persist with Amotiv Unified benefits and offshore revenue diversification providing offset • Modest revenue decline reflects US and Europe volume growth mitigating ANZ reseller softness • Category revenue performance - Lighting +1% as Vision X unit growth (US and Europe) offset muted AU reseller demand - Power Management +3% reflecting investment in product innovation and ongoing US growth - Electrical and Accessories -4% driven by soft AU reseller demand and ranging changes with some signs of a “flight to value” • Amotiv Unified benefits delivered a leaner AU operating model, with operational costs 12.2% lower vs pcp • Underlying EBITA growth of 9.4% and margin expansion of 2.1ppts largely driven by Amotiv Unified benefits ANZ reseller dynamics expected to persist in H2, with Europe/US continuing to grow • Full benefits of Q2 US tariff price increases to flow through H2 • Modest price increases expected from Q4 • Amotiv Unified benefits to continue although benefits to moderate in H2 vs pcp • H2 underlying EBITA expected to be marginally softer than H1 but slightly above the pcp 1. Refer to slide 31 for relevant definitions. 2. Revenue percentage change relative to the pcp. 3. Management categorisation based on H1 revenue. 4. Resellers include large format resellers & independents (trade and retail) $M FY26 H1 FY25 H1 Change Revenue 158.9 160.0 (0.7%) Underlying EBITDA 41.1 38.0 8.1% Underlying EBITDA margin 25.8% 23.7% 2.1pps Depreciation (4.0) (4.1) (2.4%) Underlying EBITA 37.1 33.9 9.4% Underlying EBITA margin 23.3% 21.2% 2.1pps Geographic diversification and Amotiv Unified benefits underpin performance Category revenue mix and growth on pcp 27% -4% on pcp2 Lighting Power Management Electrical & Accessories 51% +1% on pcp2 22% +3% on pcp2 ~50% ANZ resellers3,4 -7% on pcp ~30% Offshore (ex ANZ)3 +18% on pcp ~20% ANZ Caravan/RV/Truck3 -1% on pcp Aftermarket Solutions-orientatedOEM/OES Channel Revenue mix and growth on pcp 9 For personal use only
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130 135 140 145 150 155 160 165 170 175 H1 FY24 H1 FY25 H1 FY26 Revenue by Geography ($M) FY24 H1 to FY26 H1 AU NZ Export (M/East, US) $172m $164m $155m +5% Powertrain and Undercar (PTU)1 Result reflects continued resilience of the ‘wear and repair’ market, brand strength and ongoing revenue diversification • Revenue growth of 4.9% reflects volume growth and annualisation of price increases across select product categories • Broadening product portfolio and increased PD investment drove outperformance relative to system growth • NZ growth of 12% was driven by enhanced distribution and ranging Efficiency and margins supported by ongoing Amotiv Unified consolidation benefits and reduced EV investment • Underlying EBITA growth of 6.7% reflects margin expansion from improved operating leverage from investments in simplifying and streamlining operations under Amotiv Unified • Further moderation of EV investment through H1 in line with changing market dynamics. Path to break even by end of FY27 (run rate basis) Further Amotiv Unified programs to be implemented through H2 as the business looks to further consolidate site operations and improve returns • Infinitev operations site to be consolidated into Innovative Mechatronics Group • Operating cost benefits to flow from H1 headcount reductions • ACS warehouse to be rationalised into Truganina • Group procurement benefits to commence e.g. freight • Modest price increases expected through H2 Geographical diversification supporting growth 1. Refer to slide 31 for relevant definitions. $M FY26 H1 FY25 H1 Change Revenue 172.0 164.0 4.9% Underlying EBITDA 44.2 41.5 6.5% Underlying EBITDA margin 25.7% 25.3% 0.4pps Depreciation (4.3) (4.1) 4.9% Underlying EBITA 39.9 37.4 6.7% Underlying EBITA margin 23.2% 22.8% 0.4pps Strong result reflects diversification, Amotiv Unified and moderating EV investment 10 +5% +12% +4% For personal use only
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Financials Aaron Canning, CFO For personal use only
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12 Shareholder returns (cents) FY26 H1 FY25 H1 Change EPS (Basic) 34.0 23.4 45.0% Underlying EPSA 44.1 41.9 5.3% Interim Dividend 20.0 18.5 8.1% Group financials1 • Revenue - growth of +3.3% reflects organic growth from4WD +5.5%, LPE -0.7% and PTU +4.9%. AU resellers and OE channels2 remained subdued offset by continued offshore growth from US/Europe • Gross Profit - declined 0.5% largely due to 4WD domestic cost inflation and timing of out of cycle Q2 OE price increases yet to flow through. Inclusion of South Africa and adverse FX also impacted margins • Operating Costs - reflects execution of Amotiv Unified programs more than offsetting cost increases. Incentives were broadly in line with pcp • Underlying EBITA - at $98.3m was marginally ahead of pcp • Significant items3 - total one-off costs of $8.3m largely reflect Amotiv Unified restructuring costs. Compared to pcp, there were no impairments • Statutory NPAT - Effective tax rate of 29.1%4 with pcp impacted by higher significant items • Underlying EPSA - growth of 5.3% reflects EBITA performance supported by buyback • Interim Dividend - 20.0 cps +1.5cps up on pcp representing 52% payout of underlying NPAT • Capital Management - $18.3m invested in the period to complete 5% SOI buyback program with ~$48m returned to shareholders inclusive of dividends and buybacks 1. Refer to slide 31 for relevant definitions. 2. NVS, Caravan/RV/ Truck/Bus. 3. Refer to slide 26. 4. Refer slide 27. $M FY26 H1 FY25 H1 Change Revenue 520.5 503.7 3.3% COGS (299.8) (282.0) 6.3% Gross profit 220.7 221.7 (0.5%) Operating costs (104.6) (106.8) (2.1%) Underlying EBITDA 116.1 114.9 1.0% Depreciation (17.8) (17.9) (0.6%) Underlying EBITA 98.3 97.0 1.3% Amortisation (11.3) (11.2) 0.9% Significant items (8.3) (22.4) (62.9%) EBIT 78.7 63.4 24.1% Finance and interest costs (13.8) (14.1) (2.1%) Tax (18.9) (16.3) 16.0% Statutory NPAT 46.0 33.0 39.4% For personal use only
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13 Net working capital efficiency driving strong cash conversion1 Net Working Capital as % Net Revenue improved 1ppt and was ~$8.8m vs pcp. • Inventory increase of $18.8m or 8.0% reflecting increased inventory in transit (timing), new business and intentional increases ahead of distribution centre changes − LPE: higher US inventory levels post tariffs changes − 4WD: marginal increase due to inclusion of South Africa and order timing − PTU: increased holdings ahead of planned distribution centre consolidations • Payables broadly in line with pcp • Receivables decrease of $8.5m or 4.2% vs pcp against revenue growth of 3.3% − Improved collections across the Group − One off receivables collection issue in pcp did not repeat • Receivables factoring of $16.6m in line with pcp and FY25 Strong cash conversion maintained • Cash conversion of 91.9%2 improved 15.4ppts vs pcp and remains ahead of Capital Allocation target of >= 75% reflecting operating model resilience. • Working Capital to remain a focus through H2 with the group expecting to generate cash conversion performance in line with Capital Allocation Framework targets Cash conversion2 (%) Net working capital (NWC) 1. Refer to slide 31 for relevant definitions. 2. Refer to slide 29 for cash conversion calculation. 93.5% 92.9% 76.5% 90.6% 91.9% FY24 1H FY24 FY25 1H FY25 FY26 1H Movement $M FY26 H1 FY25 FY25 H1 vs FY25 vs H1 FY25 Statutory NWC Inventories 255.0 234.2 236.2 20.8 18.8 Payables (157.7) (152.1) (156.2) (5.6) (1.5) Receivables 192.8 200.2 201.3 (7.4) (8.5) Total Statutory NWC 290.1 282.3 281.3 7.8 8.8 NWC/Net Revenue % 28.7% 28.3% 29.7% For personal use only
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14 4.9 9.3 5.8 3.4 6.4 6.4 FY24 H1 FY25 H1 FY26 H1 FY24 H1 FY25 H1 FY26 H1 4WD and Trailering Lighting, Power and Elec Powertrain and Undercar 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% - 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 22.0 24.0 FY24 H1 FY25 H1 FY26 H1 4WD and Trailering Lighting, Power and Elec Powertrain and Undercar PD spend as a % of sales FY26 H1 Capex reducing inline with guidance Capex by divison2 ($m) Product Development (PD) spend supports organic growth PD spend by division ($m, % of rev) PD Spend as a % of revenue • PD spend reflective of strength in existing brands and categories – investment underpinned PTU result • PD spend as a % of revenue is expected to now remain at similar levels for the balance of FY26 • FY26 capex ~22% lower vs pcp, broadly consistent with previous guidance • Prior year included investments in South Africa and Keysborough - not expected to repeat in FY26 • Thailand expansion remains key focus in FY26 • FY26 H1 capex is balanced between sustaining/growth with sustaining capex within Capital Allocation targets. • FY26 capex expected to be up to ~10% below FY25 levels and unchanged from prior guidance FY26 H1 Balanced Capex investment Divisional growth and sustaining capex2 ($m) Capital investment supporting growth and offshore expansion1 1. Refer to slide 31 for relevant definitions. 2. Excludes “Unallocated” segment capex. Refer to the Segment note 5 in the financial statements. 3.8% 48% 52%$12.2m $15.7m Growth Sustaining 3.1% For personal use only
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15 FY25 H1 FY26 H1 USD Other (Non ANZ) Group Foreign Exchange Exposure – exposure well managed • H1 adversely impacted by weaker AUD/USD vs pcp • H2 ~85% hedged at end of December with rates reflecting improvement on H1, but marginally less favourable than pcp • Hedging position provides a high level of certainty for the balance offinancial year regarding margin and pricing decisions • Through January 2026 the balance of FY26 USD payables were fully hedged with meaningful coverage into FY27 H1 Increasing offshore earnings contribution providing natural hedge • USD profit contribution +41% vs pcp, providing increasing natural hedge. Contribution from other non-ANZ denominated profits flat on the pcp • The profit impact from THB was broadly neutral in H1 vs pcp with adverse FX rates offset by profit translation benefits • Other currencies have been well managed with minor net exposures. • Continued to leverage Amotiv Asian Sourcing office capability - transitioning to local currency with Chinese suppliers, delivering improved costs and terms USD payables exposure vs. hedging position Foreign currency NPATA contribution FY26 H1 v FY25 H1 Foreign Exchange well managed with continued growth in offshore earnings1 11% 14% 25% 15% 17% 32% Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Exposure Hedges 99% 93% 90% 95% 94% 90% 1. Refer to slide 31 for relevant definitions. For personal use only
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16 FY23 H1 FY23 H2 FY24 H1 FY24 H2 FY25 H1 FY25 H2 FY26 H1 AOV 'all in' funding cost (Ave.) AOV ave. floating Conservative leverage2 maintained Net Debt vs Net Debt/Adjusted EBITDA2 • Leverage remains within Capital Allocation Framework range of 1.5-2.25x • FY26 H1 leverage broadly stable vs FY25 post $18.3m investment in share buyback and continued investment in new jurisdictions • Resilient earningsand strong cashflow underpin confidence in the businessdeleveraging through H2 Debt profile is long dated and mostly fixed... Maturity profile ($m) …at an attractive “all in rate” • Largely long-term fixed debt drawn at attractive rates (63% fixed and 5% hedged) • Current facilities supportive of continued investment in strategic growth opportunities • Strong relationshipswith existing lender group with appetite for further support • A ~11bp reduction in all in funding cost vs pcp due to lower floating rates and maintaining low margins and commitment fees from the lender group • This was partially offset by higher floating debt and maturing interest rate swaps Balance sheet strength with long dated debt profile and attractive cost1 1. Refer to slide 31 for relevant definitions. 2. Refer to slide 29 for leverage calculation. BBSY– average 4.36% 2.50 1.69 1.60 1.75 1.91 1.95 0.0 0.5 1.0 1.5 2.0 2.5 0 100 200 300 400 500 FY23 H1 2.00 FY23 FY24 H1 FY24 FY25 H1 FY25 FY26 H1 Net Debt/Adjusted EBITDA Net Debt 0 15 30 45 60 75 90 105 120 135 150 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 Fixed - drawn Variable - drawn Variable - undrawn For personal use only
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Capital Allocation Framework – strong performance against majority of metrics Additional returns to shareholders Capital returns / share buybacks Strategic investments Projects and acquisitions in line with strategy and above specified returns Maximising the creation of shareholder value Deliver a return on capital employed (ROCE) of greater than or equal to 15%1 Cash conversion ratio >= 75% Disciplined growth investments Core growth projects and value-accretive M&A Maintain strong balance sheet and leverage position Target leverage range of 1.5x – 2.25x (absent major growth initiatives) Consistent, reliable dividends to shareholders Dividend payout ratio of greater than or equal to 50% of Underlying NPAT Sustaining capex (maintenance) Target annual spend of 90%– 130% of depreciation (~$10-15m) 1. Over the medium term for strategic acquisitions. 2. ROCE is presented excluding any benefit from the APG impairment in FY25. Reported ROCE at December 2025 post impairment is 15.3% in line with June 2025 on the same basis. Refer slide 31 for definitions. FY26 H1 91.9% 103% 1.95x +$10m Amotiv Unified benefits 52% Buyback completed. Dividend +1.5cps 13.1%2 Performance Commentary 17 Strong cash conversion +15.4ppts ahead of pcp Balanced CAPEX investment with Sustaining CAPEX of $6.4m reflecting 103% of depreciation Interim Dividend payment increased 8% to 20 cps +1.5cps on pcp reflecting 52% payout ratio Execution of Amotiv Unified programs supported H1 with an incremental $10m in annualised gross benefits on FY26 exit 5% buyback completed in H1. Returned ~$48m to shareholders inclusive of dividends and buybacks ROCE remains broadly flat vs June 2025 at 13.1% on like for like basis2 Leverage remains within target range post the completion of the share buyback program Achieved Substantially met WIP For personal use only
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Amotiv Unified and Outlook Graeme Whickman, CEO and MD For personal use only
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Amotiv Unified – $10m incremental annualised gross benefits on FY26 exit 19 Amotiv Unified – FY26 benefits phasing2 ($m) $M FY26 H1 FY26 H2 FY26 Gross benefits 1.0 5.0 6.0 Reinvestment - (5.0) (5.0) Net benefits 1.0 - 1.0 10.0 (5.0) 5.0 Amotiv Unified – FY26 Annualised Benefits2 ($M) Annualised net benefits exiting FY26 FY26 gross benefits FY26 reinvestment Amotiv Unified is a transformation program staggered in 3 waves over 3 years that commenced in January 2025 • Exiting FY25 the program delivered $15m in gross annualised benefits with $5m reinvested into brands, NPD and new capability • These benefits (net $10m) were included in the FY26 underlying EBITA guidance1 An incremental $10m annualised gross benefits expected exiting FY26 with $5m to be reinvested in H2 • Investment is focused on simplifying IT platforms, consolidating warehouse/logistics and additional program management resourcing • Timing of benefits results in an additional $1m net benefits realised in FY26 (refer table) supporting more modest price increases Total FY26 net benefits ($11m) included in FY26 guidance 1. Refer to slide 24. 2. Management estimates. For personal use only
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20 FY26 outlook1 FY26 outlook – Guidance unchangedTrading Update – January • 4WD: January ANZ Pick Up sales excl BYD down 7%, slightly below management expectations • LPE: AU Resellers and OE Channels remain subdued. Continued momentum in US/EU revenue • PTU: ‘Wear and repair’ remains resilient with forward workshop bookings stable 1. Refer to slide 31 for relevant definitions. 2. Includes Amotiv Unified net benefits and assumes continuation of prevailing economic and trading conditions and no material adverse events. In-house developed app to control Cruisemaster Body Control System (BCS). The heart of Cruisemaster BCS, user interface for control of air suspension and tyre inflation. 20 • Group revenue growth is expected in FY26 with underlying EBITA of ~$195m2, in what is likely to remain a challenging environment − 4WD: NVS (PU/SUVM+) softer. H2 margins expected to improve due to H1 pricing actions − LPE: ANZ headwinds to persist. H2 underlying EBITA expected to be marginally softer than H1 − PTU: Wear and repair categories expected to remain resilient − Incremental Amotiv Unified FY26 net benefit (~$1m) − Revised pricing approach to more modest increases in H2 − H1/H2 underlying EBITA expected to be broadly balanced • FY26 cash conversion expected to be in line with the Capital Allocation Framework • Balance sheet strength to be maintained – deleveraging expected in H2 • Incremental $10m Amotiv Unified annualised gross benefits on FY26 exit For personal use only
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Appendix Supplementary information For personal use only
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Pick Up flat, excl. BYD Shark, strong sales momentum for SUV M+ New Vehicle Sales in Key Segments and Markets: FY26 H1 vs FY25 H11,3 (not to same scale) Pick Up2 Australia New Zealand ANZ Combined SUV M+ 1. FCAI Vfacts, Electric Vehicle Council, MIA NZ and NZ Transport Agency. 2. 4WD segment does not provide towbars to the BYD Shark 3. Figures may not sum to total due to rounding 22 113k 0k 113k 8k PU (ex Shark) 0% p.a. BYD Shark 0% NZ: Signs of NZ new vehicle sales rebound • Pick-up sales +12% (1k units) off a low base - Excluding BYD sales +7% (1k units) • SUV M+ sales +26% overall - Excluding RAV sales up 3% • Pick Ups up 7% (flat net of BYD Shark2) − BYD Shark launch H2FY25, 8k units sold in H1 − Flat volumes (ex Shark) with Hilux & Ranger steady − New models (incl. Tasman, Cannon) winning share from Navara (-37%), Amarok (-34%), D-Max (-11%) • SUV M+ up 9% (+13% net of RAV4) − Prado up 67% post previous model runout − RAV4 sales normalise post sales spike during FY25 H1. Toyota RAV4 -16% (-5.4k units) − Category supported by multiple new model releases across brands Australia: Strong SUV M+ sales momentum • Pick up sales up 7% - Excluding BYD, sales relatively flat at +1% • SUV M+ sales up 10% ANZ – SUVM+ Up, Pickups flat (excl. BYD shark) 235k FY25 H1 256k FY26 H1 +9% 13k 0k 14k 1k PU (ex Shark) +7% p.a. BYD Shark +7% 23k FY25 H1 29k FY26 H1 SUVm+ +26% p.a. +26% 126k 0k 127k 8k PU (ex Shark) +1% p.a. BYD Shark +1% 258k FY25 H1 285k FY26 H1 SUVm+ +10% p.a. +10% =+ For personal use only
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LPE and PTU - Key Drivers Aging Australian car parc maintains steady growth Australia Car Parc (millions of vehicles), Average Age (years) – CY15 to CY30Forecast1 23 Growing trend towards SUVs displacing passenger vehicle sales New Vehicle Sales – Light Vehicles Australia – CY15 to CY30 Forecast1,2 Caravan production levels stable with rising imports Caravan Production and Imports – Australia4 ICE (inc. Hybrid & PHEV) still dominates the car parc Australia Car Parc Forecast by Fuel Type (millions of vehicles), CY2025 to CY2030F3 21 10 FY18 21 10 FY19 18 9 FY20 19 15 FY21 23 20 FY22 30 20 FY23 27 20 FY24 23 20 FY25 23 23 LTM Production Import 1. Fifth Quadrant Car Parc Forecast - Jan 2026 based on VFacts (Australia), ABS Motor Vehicle Census (2014 – 2021) and BITRE Road Vehicles Australia (2021 – 2025) and Electric Vehicle Council Sales Report data sources .2. Light Vehicle segments (i.e. excluding Heavy Commercial Vehicles) 3. ICE = Petrol, Diesel and Gas models excluding Hybrids. 5.. Caravan Industry Association of Australia, LTM = Last 12 Months to November 2025; 10.1 10.7 12.5 17.5m 15 16 17 18 19 19.2m 20 21 22 23 24 Car Parc 21.7m Avg. Age 11.7 25F 26F 27F 28F 29F 24.5m 30F 46% 25% 14% 11% 36% 52% 63% 66% 18% 23% 23% 23% 15 16 17 18 19 20 21 22 23 24 25 26F 27F 28F 29F 30F Passenger SUV Light Commercial 25F 20.6m 1.0m 0.2m 0.5m 26F 20.6m 1.2m 0.3m 0.6m 20.5m 20.6m 1.5m 0.5m 0.8m 0.8m 28F 20.4m 1.7m 0.7m 0.1m 1.1m 29F 20.2m 2.0m 0.9m0.4m 1.3m 30F27F BEV PHEV Hybrid ICE For personal use only
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Amotiv Unified Wave 1 - annualised net FY26 benefits1 24 Amotiv Unified Gross to Net FY26 benefit waterfall1 – Wave 1Amotiv Unified delivered $15m gross annualised savings FY25 year-end, in line with Wave 1 target2 • Majority of benefit derived from operating model with ~120 FTE reduction (~5% of workforce) through FY25 (H1 ~80 FTEs /H2 ~40 FTEs) • Largely reflects “fast delivery”/”financial benefits” projects Amotiv Unified benefits to be reinvested through FY26 • Reinvestment in new roles - new digital and E-Commerce capabilities and focus on AU Key Account/Customer facing roles • Reinvestment in brands/NPD – upweight brand and Product Development investment across Aftermarket portfolio across ANZ Net Amotiv Unified benefits of $10m in FY26 1. Based on management estimates. 2. Refer to the 4 April 2025 Trading Update ASX release. $10m Gross Benefits Reinvest New Roles Reinvest Brands/NPD Net Beneftits $15m Operating Model Benefits Other Amotiv Unified Benefits For personal use only
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Amotiv group has limited direct exposure to tariff changes: ~8% of revenue ~8% of Amotiv’s Group revenue is dependent on US market FY26 Updated Tariff Outlook • FY26 tariff impact of ~$2m EBITA post pricing changes and other mitigating actions remains broadly unchanged • Some minor benefits expected through H2 with recent Korea/US tariff changes for automotive parts effective from 1 November 2025 4 • AOV continues to monitor and assess the US tariff landscape including a range of tactical and strategic initiatives to manage any further associated risks and opportunities Summary of tariffs relevant to Amotiv • Changes in reciprocal tariffs continue, covering majority of goods, with rates varying depending on country of origin • Reciprocal tariff levels for import into the US from countries of interest is currently: − Australia: 10% − New Zealand: 15% − South Korea: 15% − Taiwan: 20% − China: 10% 1,2 − Thailand: 19% − Vietnam: 20%3 • Automotive tariffs at rate of 25% on Automotive Parts, except for South Korea 4, Japan and the EU for which a tariff of 15% is applicable • Automotive/ auto parts tariff of 25% on medium and heavy duty vehicles and 10% on buses effective 1 November 2025 • Automotive Parts tariffs and reciprocal tariffs for AOV products will not be ‘stacked’ • Amotiv revenue exposure ~$80m • US sales are primarily Vision X products manufactured in South Korea • 4WD product manufactured in Thailand with tariff impost borne by largest customer. • Australia exports subject to 10% tariff Amotiv’s manufacturing & sourcing footprint supporting USA jurisdiction 1 Agreement for 10% reciprocal tariff extended until 10 November 2026. 2 Additional tariffs on China include 10% IPEEA tariff and 25% Section 301 tariff. 3 Trans–shipments from third countries through Vietnam will face a 40% tariff 4. Tariff reduction dependent on South Korean legislative ratification which is expected to be completed in February 2026 25 A$73m revenue A$2m revenue A$5m revenue For personal use only
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Significant items 26 $M 4WD Accessories & Trailering Lighting, Power & Electrical Powertrain & Undercar Unallocated Total FY26 H1 Total FY25 H1 Change Cash items Acquisition initiative support and integration costs - - 0.3 - 0.3 South Africa/USA/UK set up costs 0.8 - - - 0.8 Amotiv Unified restructuring and redundancy costs 3.5 0.2 1.9 0.9 6.5 Amotiv Unified program costs 0.3 1.0 1.3 Total cash items 4.6 0.2 2.2 1.9 8.9 10.3 (13.7%) Non-cash items Acquisition initiative support and integration costs - (0.1) - (1.1) (1.2) Amotiv Unified restructuring and redundancy costs 0.1 - 0.5 - 0.6 Total non-cash items 0.1 (0.1) 0.5 (1.1) (0.6) 12.1 - Total significant items 4.7 0.1 2.7 0.8 8.3 22.4 (62.9%) For personal use only
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Reconciliation to statutory NPAT and effective tax rate calculation 27 $M FY6 H1 FY25 H1 Change Revenue 520.5 503.7 3.3% COGS (299.8) (282.0) 6.3% Gross profit 220.7 221.7 (0.5%) Operating cost (104.6) (106.8) (2.1%) Underlying EBITDA 116.1 114.9 1.0% Depreciation of property, plant and equipment (6.2) (6.1) 1.6% Depreciation of right of use asset (11.6) (11.8) (1.7%) Underlying EBITA 98.3 97.0 1.3% Amortisation (11.3) (11.2) 0.9% Significant items1 (8.3) (22.4) (62.9%) EBIT 78.7 63.4 24.1% Net Finance Expense (10.5) (10.4) 1.0% Interest on lease liability (3.3) (3.7) (10.8%) Profit Before Tax 64.9 49.3 31.6% Tax (18.9) (16.3) 16.0% Statutory NPAT 46.0 33.0 39.4% Add back amortisation of acquired intangibles (post tax) 7.9 7.8 Add back impairments (post tax) - 9.7 Add back transaction, SA/US set up, redundancy & restructuring costs (post tax) 5.8 8.4 Underlying NPATA 59.7 58.9 1.3% $M FY26 H1 FY25 H1 Profit before tax 64.9 49.3 Prima facie income tax expense calculated at 30% 19.5 14.8 Increase/(decrease) in income tax expense / (benefit) Non-deductible expenditure and assessable income 0.4 0.2 Non-deductible impairment expense - 2.4 (Over)/under provision of income tax in prior year 0.1 0.5 Research and development incentives - (0.3) Tax rate differences for overseas entities (1.0) (1.0) Non-assessable income (0.1) (0.4) Income tax expense 18.9 16.3 Profit before tax before goodwill impairment 64.9 57.3 Effective tax rate before goodwill impairment 29.1% 28.4% 1. Refer to slide 26. Reconciliation to statutory NPAT Effective tax rate For personal use only
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28 Reconciliation to segment EBIT 4WD Accessories and Trailering Powertrain and Undercar Lighting, Power and Electrical $M FY26 H1 FY25 H1 Change Revenue 189.6 179.7 5.5% Operating costs (154.3) (139.5) 10.6 % Underlying EBITDA 35.3 40.2 (12.2%) Depreciation (9.1) (9.3) (2.2%) Underlying EBITA 26.2 30.9 (15.2%) Amortisation of intangibles (9.2) (9.2) - EBIT pre significant items 17.0 21.7 (21.6%) Significant items1 (4.7) (16.5) (71.5%) Segment EBIT 12.3 5.2 135.5% $M FY26 H1 FY25 H1 Change Revenue 158.9 160.0 (0.7%) Operating costs (117.8) (122.0) (3.4%) Underlying EBITDA 41.1 38.0 8.1% Depreciation (4.0) (4.1) (2.4%) Underlying EBITA 37.1 33.9 9.4% Amortisation of intangibles (1.5) (1.4) 7.1% EBIT pre significant items 35.6 32.5 9.5% Significant items1 (0.1) (2.1) (95.2%) Segment EBIT 35.5 30.4 16.7% $M FY26 H1 FY25 H1 Change Revenue 172.0 164.0 4.9% Operating costs (127.8) (122.5) 4.3% Underlying EBITDA 44.2 41.5 6.5% Depreciation (4.3) (4.1) 4.9% Underlying EBITA 39.9 37.4 6.7% Amortisation of intangibles (0.6) (0.6) - EBIT pre significant items 39.3 36.8 6.8% Significant items1 (2.7) (2.0) 35.0% Segment EBIT 36.6 34.8 5.1% 1. Refer to slide 26. For personal use only
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29 Cash conversion and balance sheet calculations Cash conversion Balance sheet ratios 1. Refer to slide 31 for relevant definitions. 2. Adjusted EBITDA is banking covenant EBITDA excluding impact of significant items – refer to slide 30 for calculation. $M FY26 H1 FY25 FY25 H1 Bank overdraft - 1.9 - Current Borrowings 0.8 0.8 - Non-Current Borrowings 431.8 434.0 409.9 Cash and Cash Equivalents (38.2) (53.4) (53.8) Net debt 394.3 383.3 356.1 Adjusted EBITDA 202.1 200.5 202.9 Net Debt/Adjusted EBITDA 1.95x 1.91x 1.75x Net Interest Expense – Lease Adjusted 20.6 19.5 18.4 Adjusted EBITDA / Net Interest 9.80x 10.30x 11.00x $M FY26 1H FY25 1H Change Operating cashflow 74.3 55.1 34.8% Adjustments: +Tax paid 24.8 26.0 (4.6%) − Payments for lease liability (13.5) (13.9) (2.9%) - Payments for significant items/Gain (loss) on sale 8.9 10.3 (13.7%) Gross operating cashflow 94.5 77.5 21.8% Underlying EBITDA 116.1 114.9 1.0% − Lease payments (13.5) (13.9) (2.9%) − Other adjustments 0.1 0.1 - − Interest income 0.1 0.2 (22.2%) Underlying EBITDA (lease adjusted) 102.8 101.3 1.5% Cash flow conversion 91.9% 76.5% 15.4pps For personal use only
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30 Adjusted (bank covenant) EBITDA and net interest $M FY26 H1 FY25 H1 EBIT post AASB 16 (32.0) 144.2 Add ROU depreciation 22.4 21.4 Less lease payments (26.5) (24.9) Add other adjustments 0.2 (0.3) EBIT pre AASB 16 (35.9) 140.4 Add amortisation 22.6 22.4 Add significant items 202.7 24.8 Add inventory step up - 2.2 Add interest income 0.8 0.6 Add PP&E depreciation 11.9 11.7 Add Acquisition - full yr normalisation - 0.6 Add Loss/(profit) from Discontinued Operations - 0.2 Adjusted EBITDA 202.1 202.9 $M FY26 H1 FY25 H1 Reported Interest (rolling 12 months) 27.2 25.1 Interest on lease liablities (6.6) (6.7) Adjusted Net Interest 20.6 18.4 Adjusted EBITDA Net interest For personal use only
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31 Term 4WD 4WD Accessories & Trailering Division ACS Australian Clutch Services, a subsidiary company of Amotiv Ltd Adjusted EBITDA A non-IFRS measure, Earnings Before Interest, Tax and Amortisation adjusted for the impact of leases and acquisitions/disposals AGM Annual General Meeting ANZ Australia and New Zealand APCO Australian Packaging Covenant Organisation APG AutoPacific Group, a subsidiary company of Amotiv Ltd and part of the 4WD, Accessories and Trailering segment BP Basis point Cash conversion Operating cashflow adjusted for tax paid, lease payments and transaction costs as a percentage of underlying EBITDA adjusted for leases. Refer slide 29 for calculation CES Caravan Electrical Solutions, a subsidiary company of Amotiv Ltd and part of the Lighting, Power and Electrical segment DBA Disc Brakes Australia, a subsidiary company of Amotiv Ltd and part of the Powertrain and Undercar segment DC Distribution Centre DIFOT Delivered in full, on time EBIT Earnings Before Interest and Tax EPSA - Underlying A non-IFRS measure, Earnings Per Share after Amortisation from continuing operations EU European Union EV Electric Vehicle Glossary of terms (1 of 2) Term FCAI Federal Chamber of Automotive Industries FX Foreign Exchange Gross margin (GM) Gross profit divided by revenue GP Gross profit, being revenue less cost of goods sold ICE Internal Combustion Engine (petrol or diesel fuelled) ICE Agnostic Revenue derived from sales of Non-ICE Products – refer to definition below. ICE Revenue Revenue derived from sales of ICE Products ICE Products Those in categories of automotive parts, accessories and services that can only be applied to ICE vehicles (i.e. they are dependent on an ICE for their operation). Inventory step up Relates to step up in inventory acquired via a business combination as a result of an inventory fair valuation exercise performed as part of the purchase price accounting. This is cycled through cost of goods sold in the Income Statement as the acquired inventory is sold. Leverage Net Debt to adjusted EBITDA (refer to slide 29 for calculation) LPE Lighting, Power & Electrical Division LTIFR Lost Time Injury Frequency Rate MIA Motor Industry Association of New Zealand MW Megawatts N.M. Not meaningful For personal use only
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Term Non-ICE Revenue Revenue derived from sales of Non-ICE Products. Within Non-ICE Product categories (being, categories of product which don’t depend on an ICE for their operation), a particular SKU may apply to a specific vehicle model, whether an ICE model, EV or hybrid model. As the mix of models in the car parc evolves over time, the particular SKUs offered and sold by the relevant Amotiv business will be altered to apply to those models. Non-ICE Products Those in categories of parts, accessories and services that are not ICE Products; i.e. are not dependent on an ICE for their operation. For example, products in the category of brakes are considered Non-ICE Products because all vehicles can use brakes, regardless of whether the vehicle has an ICE. Another example is products in the category of hybrid drive batteries are Non-ICE Products; whereas categories of products which depend on the ICE part of a hybrid vehicle, like ignition coils, are ICE Products. NVS New Vehicle Sales NWC Net Working Capital, comprising of debtors and other receivables, inventory and creditors and other payables NZ New Zealand OEM Original Equipment Manufacturer Organic Removes the impact of acquisitions made in the current period or any acquisitions made in the prior period that were not in place for the full 12 period. PCP Prior comparative period PD or NPD Product Development or New Product Development PPS Percentage points 32 Glossary of terms (2 of 2) Term PTU Powertrain & Undercar Division R&D Research and Development ROCE Return on capital employed RV Recreational vehicle Significant items Includes material (>$100 thousand) non-recurring items of income and expenditure which are excluded from EBIT, so the measure better reflects the maintainable earnings of the group. SOI Shares on issue SUV Sports utility vehicle SUVM+ Sports utility vehicle medium plus (based on FCAI-defined footprint) TAM Total Addressable Market TRIFR Total Recordable Injury Frequency Rate Underlying EBITA A non-IFRS measure, Earnings Before Interest, Tax and Amortisation from continuing operations adjusted for significant items as outlined in note 7 of the financials Underlying EBITDA A non-IFRS measure, Earnings Before Interest, Tax, Depreciation and Amortisation from continuing operations adjusted for significant items as outlined in note 7 of the financials For personal use only