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FY26 Results Presentation 27 August 2026 Searipple Village, Karratha WA
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Important notices and disclaimer The information contained in this presentation is provided by Fleetwood Limited ACN. 009 205 261 (Fleetwood) for informational purposes only and does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. No party other than Fleetwood has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or undertakings in this presentation. Summary information This presentation contains summary information about Fleetwood and its activities which is current as at the date of this presentation. The information in this presentation is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Fleetwood or that would be required in a prospectus or product disclosure statement prepared in accordance with the requirements of the Corporations Act 2001 (Cth). This presentation should be read in conjunction with Fleetwood’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au Not investment advice The information contained herein is not investment or financial product advice and has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. The views, opinions and advice provided in this presentation reflect those of the individual presenters only. Cautionary statement concerning forward looking information This presentation may contain certain forward-looking statements. The words “anticipate”, “believe”, “expect”, “future”, “project”, “estimate”, “forecast”, “likely”, “intend”, “should”, “could”, “ may”, “target”, “plan” and other similar expressions are intended to identify 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, as are statements about industry trends, which are based on interpretations of current market conditions. Indications of, and guidance on, performance of Fleetwood are also forward -looking statements. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Fleetwood, and its officers, employees, agents and associates, that may cause actual results to differ materially from those expressed or implied in such statements. You should not place undue reliance on forward looking statements and, to the full extent permitted by law, neither Fleetwood nor any of its directors, employees, advisers or agents assume any obligation to update such information. Disclaimer This presentation has been prepared in good faith, but no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness, reliability or adequacy of any statements, estimates, opinions or other information, or to the reasonableness of any assumption or other statement, contained in the presentation (any of which may change without notice). To the maximum extent permitted by law, Fleetwood and its professional advisers and their related bodies corporate, affiliates and each of their respective directors, officers, partners, employees, advisers and agents and any other person involved in the presentation disclaim all liability and responsibility (including, without limitation, any liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use of or reliance on anything contained in, or omitted from, this presentation. Other jurisdictions The distribution of this presentation in other jurisdictions may be restricted by law. Persons into whose possession this presentation comes should inform themselves of and observe any such restrictions. 2
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Andrea Pidcock Chief Executive Officer Cate Chandler Chief Financial Officer Today’s Speakers 13
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Highlights Final Dividend Fully Franked 9.5 cps Underlying* EBIT $35.6m Building Solutions Underlying* EBIT - $8.7m Full Year Dividends Fully Franked 19.0 cps Free Cash Flow $35.9m Community Solutions EBIT $50.0m * Underlying EBIT excludes non-recurring restructuring costs, refer to note 28 of the Financial Statements Community Solutions Searipple Occupancy 82 - 92% FY27 contracted + expected bookings Building Solutions Order Book $156m June 26 Up $56m on June 25 4
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Financial Results Cate Chandler Chief Financial Officer Crestmead, QLD 5
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Profit & Loss + Revenue was 6% lower across Building Solutions and RV Solutions, which was partly offset by record occupancy at Searipple Village Karratha that contributed record earnings for Community Solutions + Net Profit After Tax of $2.4m was impacted by $29.6m in ‘non-recurring’ restructuring costs as the business exited RV Solutions manufacturing, prepared to divest Camec and closed the Building Solutions NSW manufacturing facility + Underlying EBIT $35.6m was down 6% due to Building Solutions performance, which was impacted by lower revenue and a small number of large projects that delivered below target margins $ Million FY26 FY25 Var Revenue 475.0 505.2 -30.2 EBITDA 23.3 54.1 -30.9 Impairment - 9.1 9.1 Depreciation 17.3 18.4 1.1 EBIT 6.0 26.7 -20.7 EBIT % Revenue 1.3% 5.3% -4.0% Finance costs 2.4 1.9 -0.5 Tax expense 1.2 10.2 9.1 NPAT 2.4 14.6 -12.1 $ Million FY26 FY25 Var Restructuring FBS 15.4 - Restructuring RVS 14.2 11.0 Restructuring costs 29.6 11.0 Underlying EBIT 35.6 37.7 -2.1 1. Underlying EBIT excludes non-recurring restructuring costs, refer to note 28 of the Financial Statements 6
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Cash Flow + Strong closing cash position of $61.5m + Disciplined working capital management and the divestment of RV Solutions were the drivers that lifted operating cash flows by $21.2m + Capital expenditure of $7.5m included a $4.5m investment in Searipple to upgrade guest facilities and $2.6m invested in Building Solutions equipment replacements + The sale of NRV for $4.8m and the sale of hire buildings delivered proceeds net of working capital of $1.5m + Cash outflow from the Smithfield NSW closure of $11.9m in Q1 FY27 is expected to be offset by Camec sale proceeds of $9.5m, with a further $4.0m in cash from tax assets expected to be recovered across FY27 and FY28 $ Million FY26 FY25 Change EBITDA 23.3 54.1 -30.8 Non-cash items in EBITDA 9.0 2.6 6.4 Working Capital / Provisions 31.6 -14.0 45.6 Operating Cash Flow 63.9 42.7 21.2 Capital expenditure -7.5 -6.9 -0.5 Proceeds sale of assets 1.5 0.6 0.9 Interest paid -2.4 -1.9 -0.5 Interest received 1.3 1.5 -0.2 Dividends received 0.6 - 0.6 Tax paid / received -11.4 0.2 -11.6 Lease payments -10.2 -9.2 -1.0 Free Cash Flow 35.9 27.0 8.9 Dividends -21.3 -13.1 -8.2 Share Buyback -4.2 -2.2 -2.0 Financing Cash Flow -25.4 -15.3 -10.2 Movement in net cash 10.5 11.8 -1.3 Closing Cash 61.5 51.0 10.5 7
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Capital Management + Free cash flow generated $35.9m + Disciplined working capital management has been the key driver of improved free cash flow + Share buyback of $4.2m, acquiring and cancelling 2.5 million shares during the year + Underlying1 ROCE of 44.1% reflects the strength of the future earnings potential + Bank guarantee and bonding facilities of $75.0m, project bonding increased to $53.2m reflecting the industry trend towards security for offsite materials + Final dividend 9.5 cps brings the full year dividend to 19.0 cps reflecting the strong cash position and balance sheet strength + Total capital returned to shareholders in FY26 was $21.6m, compromising dividends declared of $17.4m and $4.2m returned through the share buyback $ Million FY26 FY25 Change Net working capital / other 8.9 44.2 35.3 Property Plant & Equipment 27.7 32.2 4.5 Held for Sale 9.1 - -9.1 Intangibles 35.0 38.3 3.3 Capital Employed 80.7 114.7 34.0 Net Debt / (Cash) -61.5 -51.0 10.5 Shareholder funds 142.2 165.8 -23.6 Capital Employed 80.7 114.7 34.0 EBIT 6.0 26.7 -20.7 ROCE % 7.4% 23.3% -15.9% Underlying1 ROCE % 44.1% 32.9% 11.2% Cents per Share FY26 FY25 Change Interim 9.5 11.5 -2.0 Final 9.5 13.5 -4.0 Total dividend - fully franked 19.0 25.0 -6.0 1. Underlying excludes non-recurring restructuring costs, refer to note 28 of the Financial Statements 8
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Segment Results Andrea Pidcock Chief Executive Officer QBuild MMC, Toowoomba, QLD 9
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Community Solutions + Searipple Village occupancy of 96%, underpinned by investment in regional projects, drove a record EBIT of $50.0m + Searipple FY27 contracted occupancy 72% and expected incremental bookings of 10-20% in 2H27 + Osprey Village remained fully occupied + Capex of $4.5m invested in the village to improve the guest facilities and the customer experience + Pilbara project pipeline of over $30 billion supports elevated occupancies through to FY33 + Acquisition1 of Red Dog Village increases the Karratha accommodation footprint by 2,169 rooms from 1 January 2027 and earnings potential in the range of $10m-20m on an annual basis $ Million FY26 FY25 Var Occupancy % 96% 84% 12% Revenue 93.8 76.9 16.9 EBIT 50.0 39.2 10.8 EBIT % Revenue 53.3% 51.0% 2.3% 93.8 76.9 FY26 FY25 +22% 50.0 39.2 FY26 FY25 +28% Revenue $Million Underlying EBIT $Million 1. Subject to satisfaction of conditions precedent 10
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Building Solutions + Revenue increases in VIC, SA and WA were offset by declines in QLD and NSW - QLD was lower in 1H26 due to delays in large projects being awarded + Underlying EBIT1 was $19.7m lower - due to revenue being 6% lower - a small number of large projects that delivered below target margins - historical project costs of $2.7m + Non-recurring restructuring costs of $15.4m were incurred to close the Smithfield factory + Reset the Building Solutions annual cost base, reducing costs by $8.0m-$9.0m commencing 2Q FY27 $ Million FY26 FY25 Var Revenue 323.5 356.2 -32.7 EBIT -24.1 11.0 -35.1 Restructuring costs 15.4 - -15.4 Underlying1 EBIT -8.7 11.0 -19.7 Underlying EBIT % Revenue -2.7% 3.1% -5.8% 323.5 356.2 FY26 FY25 -9% -8.7 11.0 FY26 FY25 -179% Revenue $Million Underlying EBIT $Million 1 Underlying EBIT excludes non-recurring restructuring costs, refer to note 28 of the Financial Statements 11
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RV Solutions + RV Solutions remained profitable on an underlying EBIT1 basis despite market headwinds as local caravan manufacturers faced increasing competition from imports + RV Solutions closed its manufacturing in 1H FY26 incurring restructuring costs of $4.8m and incurred $9.2m in 2H FY27 to exit the RV segment1 + Northern RV was divested in February 2026 for $4.8m and Fleetwood announced on 16 July the sale of Camec for $9.5m + Total cash inflows of $18.3m from the divestment includes $4.0m in tax assets to be realised as cash across FY27 and FY28 $ Million FY26 FY25 Var Revenue 55.9 70.6 -14.7 EBIT -12.5 -13.8 1.3 Restructuring costs 14.2 11.0 -3.2 Underlying1 EBIT 1.7 -2.8 4.5 Underlying EBIT % Revenue 3.0% -4.0% 7.0% 55.9 70.6 FY26 FY25 -21% 1.7 -2.8 FY26 FY25 +161% Revenue $Million Underlying EBIT $Million 1 Underlying EBIT excludes non-recurring restructuring costs, refer to note 28 of the Financial Statements 12
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Strategy & Outlook Andrea Pidcock Chief Executive Officer Dept Housing WA, Manjimup 114
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Building Solutions Leader in design and construction of modular buildings, delivered through an integrated model providing certainty, speed, and quality across education, housing, resources, and government sectors 2 Community Solutions Leader in building, operating and managing high-quality accommodation villages in remote and regional areas where demand is strong 1 Simplified business with two divisions Osprey, Port Hedland WA QBuild MMC, Toowoomba, QLD 14
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15 Osprey Village, Port Hedland, Searipple Village, Karratha • Short-term accommodation demand: Fleetwood can meet immediate region demand across its WA footprint. • Medium-term flexibility: The combined footprint allows capacity to be allocated across villages as major projects ramp up. • Long-term development potential: Fleetwood’s WA accommodation footprint offers long-term opportunities to evolve assets in line with regional housing and workforce needs, supported by Fleetwood's modular building capability. • Integrated operating model: Fleetwood’s village operations and modular solutions enable seamless transitions from transient worker accommodation to longer-term housing. WESTERN AUSTRALIA SOUTH AUSTRALIA TASMANIA Port Hedland ● Perth A U S T R A L I A Built and managed by Fleetwood - 293 houses built for Port Hedland Council, housing key workers (teachers, police and local staff). - Parks, roads, footpaths and homes all managed and maintained by Fleetwood. - Fully tenanted with an active waiting list. Dampier Built, owned and operated by Fleetwood - 1,250 bed, fully serviced Transient Worker Accommodation - Revenue underpinned by 'take-or-pay' rooms, plus forward-committed and short-term bookings - High utilisation from construction projects, major shuts and transient workforces. Karratha To be owned and operated by Fleetwood - 2,169 room, fully serviced Transient Worker Accommodation - Comprehensive range of amenities tailored to the needs of the regional workforce - Large scale and high-quality infrastructure Community Solutions Accommodation portfolio enables yield optimisation and development options (1) From 1 January 2027 1. Subject to satisfaction of conditions precedent 15
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Community Solutions The earnings uplift reflects the demand for Transient Worker Accommodation in Karratha driving higher occupancy 0 10 20 30 40 50 0 20 40 60 80 100 EBIT $m Occupancy % $8.3 FY22 $10.2 FY23 34% $11.5 FY24 84% $39.2 FY25 96% $50.0 FY26 Searipple Village Occupancy Community Solutions EBIT Community Solutions EBIT vs Searipple Occupancy 16 Does not include Red Dog Village
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Sources: City of Karratha Council CIM Full Known Projects; Urbis 2026 report; List not exhaustive. The Karratha catchment supports a diverse range of industries including iron ore, LNG, fertiliser, salt, hydrogen and renewables requiring water security (desalination) and high voltage transmission lines. Company Project Industry Investment Status Transient workers Rio Tinto Parker Point Water Security $1.0B Construction 300 Stage 2 approved March 2026 Perdaman/SCJV Urea Plant Fertiliser $6.5B Construction 2,350 Perdaman Helios Solar $3.0B Construction TBD Yara / ENGIE Stage 2 & 3 Green Ammonia $4.4B Planning 880 3 major stages planned Hexagon Energy Phase 1-3 (WAH2) Hydrogen Project $1.6B Planning 885 Land granted Suez Balla Balla Water Security $5.0B Planning TBD Horizon/WA Government Transmission line Energy & Renewables $2.0-3.0B Planning TBD Maitland-Burrup High Voltage Transmission Line (common use) Woodside Browse to NWS Natural Gas $50B Planning TBD Downstream Karratha Investment ~$5B Demand for TWA is expected to continue, underpinned by a $30B+ pipeline of infrastructure projects, existing operations and maintenance works 17
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+ Short-term accommodation shortage: the region is forecasting a multi-year shortfall of at least 1,500 TWA rooms, driving strong demand across Red Dog1 and Searipple Village. + Ongoing gap enables medium-term yield optimisation: the depth and duration of demand allow Fleetwood to optimise occupancy and allocate capacity across villages as major projects ramp up, supporting stable earnings through project cycles. + Long-term demand strengthens development potential:the extended shortfall reinforces opportunities to evolve assets in line with regional housing and workforce needs, supported by modular capability. Sources: City of Karratha Council CIM Full Known Projects; Urbis 2026 report. Does not include increase in operational and maintenance staff required for new projects 6,028 6,028 7,316 7,316 7,591 7,591 7,591 FY24 FY25 FY26 FY27 FY28 FY29 FY30 Karratha Transient Worker Accommodation Demand and Supply Searipple Red Dog Other Demand Karratha’s sustained accommodation shortfall reinforces the value of Fleetwood's WA portfolio strategy Shortfall of 1,500 Transient Worker rooms 1. Subject to satisfaction of conditions precedent 18
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Red Dog Village Acquisition1 $20m + Announced: 16 July 2026 + Location: Karratha, WA + Accommodation type: Transient Worker + Site size: 45 hectares + Built: 2022 + Rooms: 2,169 + Completion1: 1 January 2027 Red Dog Village 1. Subject to satisfaction of conditions precedent 19
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Strategic acquisition strengthens Community Solutions earnings potential 5 + Depending on occupancy and market conditions,the Red Dog Village acquisition1 has the potential to increase Community Solutions EBIT by $10.0m-$20.0m on an annualised basis + Searipple contracted and expected incremental bookings equate to FY27 Searipple occupancy of 82-92% + The acquisition will be funded through a term debt facility, maintaining a disciplined balance sheet approach + Together, Red Dog Village and Searipple create a stable, scalable accommodation platform in Karratha, strengthening Fleetwood’s long-term earnings profile 20 20 SEARIPPLE 1. Subject to satisfaction of conditions precedent 20
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Two businesses complementing each other • Community Solutions provides accommodation assets, a demand base and recurring yield • Building Solutions provides the modular capability to expand, renew or repurpose those assets efficiently Community Solutions Accommodation portfolio • Scaled WA footprint positioned in major resource corridors • Consistent demand driven by project and workforce activity • Operational uplift through better utilisation and targeted improvement • Redevelopment potential to modernise, expand or repurpose assets Building Solutions Integrated modular capability • Rapid expansion of rooms and village extensions • Asset renewal through efficient modernisation • Repurposing for evolving workforce and housing needs • Predictable delivery through controlled factory production • Scalable capacity across multiple states The Fleetwood advantage Fleetwood is a national accommodation provider, with modular capability enabling scalable and profitable growth, asset renewal and flexible deployment across regions 21
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22 Building Solutions Building Solutions is a leader in modern modular manufacturing and construction with a national footprint to support profitable growth Location Total Facility Area (m2) High Wycombe, WA 66,350 Crestmead, QLD 50,000 Para Hills West, SA 19,000 Kangaroo Flat, VIC 45,825 Bendigo, VIC 14,000 Derrimut, VIC 26,600 221,775 High Wycombe WA Para Hills West SA Bendigo VIC Kangaroo Flat VIC Derrimut VIC Crestmead QLD 22
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Building Solutions Order Book The outlook is positive with $156m work in hand and a pipeline >$200m pending award Work in Hand $156m June 26 38% 20% 16% 22% Education Housing 3% Commercial Resources Government 1% Defence & Other 25% 22% 11% 20% 12% 11% Education Housing Commercial Resources Government Defence & Other Tender Pipeline >$200m June 26 65% of Building Solutions revenue is recurring supported by long standing panel agreements 23
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Building Solutions Revenue Outlook Revenue growth of more than 5% in FY27 with a sharpened focus on earnings quality FY18 FY19 FY20 FY21 FY22 FY23 FY25 FY26 FY27 324 356 221 FY24 296 209 333 310 179 249 Revenue $m 24
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Summary & Outlook Successful portfolio simplification positions Fleetwood for growth in FY27 + Record Community Solutions EBIT of $50.0m underpinned by 96% occupancy at Searipple + Searipple contracted and expected incremental bookings equate to FY27 occupancy of 82-92% + Acquisition1 of Red Dog Village has potential to lift annual earnings by $10.0m-$20.0m + Reset the Building Solutions fixed cost base by $8.0m-$9.0m + The outlook is positive with an order book of $156.0m, and over $200.0m in tenders pending award + FY27 revenue is further supported by recurring revenue of ~65% from long standing panel agreements + Closing cash of $61.5m + Free cash flow generated of $35.9m + Final dividend of 9.5 cps fully franked + Full year dividends of 19.0 cps fully franked + Strong balance sheet including ownership of key WA assets + FY26 capital returns to shareholders totalled $21.6m, comprising dividends and a share buyback Community Solutions Building Solutions Capital Management 1. Subject to satisfaction of conditions precedent 25
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1 2 3 Improve Building Solutions Profitability + Strengthen foundations in end-to-end project governance and delivery + Accelerate manufacturing disciplines to reduce waste and cost + Diversify customer base and develop key partnerships Deliver value from Red Dog Village acquisition + Ensure Conditions Precedent are met + Establish operations from January 2027 + Secure contracted occupancy Lift organisational capability and culture + Strengthen capabilities required for profitable growth + Use technology better to support the work our teams do, reducing manual processes and integrating disparate systems + Build a collaborative and high-performing culture Three immediate focus areas 26
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Summary: why Fleetwood 27 Six (6) manufacturing facilities and 221,775m² of capacity, positioned for a national housing shortfall and rising government infrastructure spend Modular builder with national footprint1 2 Positioned to deliver sustainable earnings with forecast shortages in workforce accommodation in Karratha expected to persist to 2033 Resilient, recurring Community Solutions earnings 3 Large housing, education, Defence and infrastructure markets nationwide, substantial operations and project pipeline in the Karratha catchment A strong pipeline for growth 4 Reset Building Solutions fixed costs base with Smithfield closure, annualised savings in the range of $8.0-9.0m commencing in Q2 FY27 Sharper, higher margin business 5 Significant net cash of $61.5m at June 30 and ownership of key WA assets Strong balance sheet, attractive returns 27
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Q&A Red Dog Village, Karratha WA 28
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Thank you Investor Relations : info@ f leetwood.com.au For further information, please contact: Cate Chandler Chief Financial Officer 0419 186 575 VSBA, Glen Waverley School, VIC 29