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20 OCTOBER 2026 INVESTOR STRATEGY UPDATE Leading the evolution from products to products, solutions and services
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 2 Executive Leadership Team MANAGING DIRECTOR AND CEO GROUP CHIEF FINANCIAL OFFICER GM SALES Patricia Oliver GM PEOPLE & PERFORMANCE Ritesh Patel CHIEF INFORMATION OFFICER Julie Webster GM MARKETING Urs Meyerhans Calin Scott Ernie Lagis COMPANY SECRETARY& GENERAL COUNSEL GM SUPPLY CHAIN & INNOVATION Craig Norwell Caroline Sunaryo
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 3 Agenda 04 Safety and overview Urs Meyerhans 10 Our growth strategy Three connected Horizons, one disciplined value approach Urs Meyerhans 11 Horizon 1 | Core fixtures and fittings Grow the core through category, brand and merchant execution Julie Webster 15 Horizon 2 | Plumber obsession Create plumber value and repeatable pull-through demand Craig Norwell 19 Horizon 3 | Water Solutions Build a scalable Water Solutions business, gated by evidence Caroline Sunaryo 23 Financial discipline Capital focused on customer value, repeatability and economics Calin Scott 27 Conclusion and Trading Update Urs Meyerhans
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 4 Safety & Overview URS MEYERHANS
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 5 Safety is foundational to our business CRITICAL AREAS OF FOCUS FOR GWA GROUP SAFETY IN FY27 We continue to focus on and structurally address the most critical risks for our team CULTURE — COMMUNICATION — CAPABILITY Safety Leadership Psychosocial Wellbeing Manual Handling Key Risk Reduction
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 6 Ourmarketis evolving STRUCTURAL TRENDS IN OUR MARKETS Customers increasingly seek outcomes, not just products. Value is shifting across the ecosystem, while plumbers remain critical to decision-making and route to adoption. GWA ECOSYSTEM PLUMBERS REMAIN CENTRAL They specify, install and influence customer outcomes, but are increasingly time poor. CONNECTED BATHROOMS Smart, connected water experiences are becoming mainstream. MORE THAN JUST PRODUCTS Customers increasinglyseek solutions, not just products. MERCHANTS INSTALLERS Residential & Multi Res Owner CareCommercial PLUMBERS
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 7 GWA is uniquely positioned Our Right to Win rests on five reinforcing strengths Increasingly connected via Win the Plumber Strength of Caroma® brand, with a family of differentiatedbrands From product design to install and maintenance Proven ability to develop and commercialise new solutions Deep experience in water products and solutions TECHNICAL EXPERTISE DEEP PLUMBER RELATIONSHIPS MARKET LEADING BRANDS END-TO-END CATEGORY EXPERTISE INNOVATION CAPABILITY
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 8 Disciplined execution through the cycle We have continued to grow despite a subdued market *FY23 is the base year ConsistentCAGR growth across all metrics (FY23* to FY26) Strong customer advocacy Extensive trade reach Customer First approach driving significant improvement in Merchant NPS and DIFOT Technical plumber interactions through GWA programs. 30,000+ VOL REV EBIT EPS +1.5% +1.0% +3.6% +4.1%
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 9 Customer First transformation We've changed the way GWA operates, and the proof is real LISTEN Customer signals shape priorities OWN Regional accountability and clear decision rights DELIVER Service routines and disciplined execution LEARN Outcomes, evidence and adjustment OUR OPERATING SYSTEM CONTINUED IMPROVEMENT IN NPS FY23 → FY26 DELIVERY IN FULL >90% FY23 → FY26 VITALITY INDEX* >10% FY23 → FY26 *Percentage of sales from new products launched in the last two years Customer First is not a program — it is how we operate every day. 21 3 4
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 10 Our strategy positions us for future growth Leveraging the platforms we’ve built and the market transition underway CUSTOMER FIRST PROFITABLE VO LU ME GROWTH We are customer focusedWe are one team We care for each other OUR CULTURAL PILLARS MAKING LIFE BETTER through innovation in everyday water experiences. OUR PURPOSE To be the trusted partner in the delivery of sustainable water soluti ons for bathrooms OUR STRATEGY Merchants STRATEGIC GROWTH Win the plumber Residen tialCare Commercial OUR STRATEGIC FOCUS Innovation ESGDigital People OUR ENA BLERS
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 11 GWA Strategy Horizon 1: Fixtures and Fittings JULIE WEBSTER
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 12 Horizon 1 | Fixtures and Fittings | marketdynamics A global marketplace is raising the standard GLOBAL ACCESS Global sourcing provides broader access to products, increasing competitive tension. FASTER INNOVATION DIFFUSION Design trends, product features and technology are adopted and scaled faster. CATEGORY ECONOMICS Large installed base, and recurring repair and replacement demand creating resilient revenue pools. CHANNEL EXECUTION Merchant-owned brands, exclusive ranges and digital channels are becoming increasingly prevalent. The Fixtures and Fittings market remains resilient, but the basis of competition is changing. Winning requires differentiated innovation, ease of doing business and strong value chain economics. Customers and channels expect more — value is shifting from product to customer value
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 13 Horizon 1 | Fixtures and Fittings | how we grow the core business The economic engine of GWA WIN THE MARKET Category authority SUSTAINS DEMAND Portfolio strength builds preference WIN THE CUSTOMER Enduring brand preference CREATES DEMAND Demand Pull before the point of purchase Improves category economics Together, these capabilities reinforce one another, creating a sustainable competitive advantage TECHNICAL EXPERTISE, INNOVATION AND CUSTOMER INSIGHT FUELS THE SYSTEM WIN THE POINT OF PURCHASE Merchant advantage CONVERTS DEMAND — MUTUAL GROWTH ACCELERATOR
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 14 Horizon 1 | Fixtures and Fittings | our execution Capability investment is delivering meaningful market and commercial outcomes CATEGORY INSIGHT, INNOVATION AND AUTHORITY BRANDED PREFERENCE CUSTOMER PARTNERSHIPS
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 15 GWA Strategy Horizon 2: Plumber Obsession CRAIG NORWELL
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 16 Horizon 2 | Plumber Obsession | Plumbers’influence is increasing The plumber is critical to decision-making and adoption MORE COMPLEXITY Greater demands on knowledge and capability LESS TIME Labour constraints and productivity pressure GREATER RISK Increasing need for certainty HIGHER EXPECTATIONS More demanding customers and stakeholders Brands that reduce installation time, risk and uncertainty will be better positioned to earn plumber preference.
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 17 Horizon 2 | Plumber Obsession | how plumber value becomes growth DRIVES DEMAND UNDERSTAND Build proprietary insight REDUCE FRICTION Reduce installation timeand risk via our unique technical expertise CREATE PREFERENCE Build confidence and advocacy GENERATE DEMAND Increase recommendation and pull- through demand PLUMBER VALUE A repeatable insight-to-demand system creates value for plumbers, customers and GWA
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 18 Horizon 2 | Plumber Obsession | building and validating the model Moving from plumber engagement to measurable plumber value MEASURING COMMERCIAL PROOF Participation | Recommendation | Pull-through demand We’re building Australia’s first proprietary plumber intelligence platform OUTCOME Unique understanding of installation pain points OUTCOME Reduction in installation time and risk OUTCOME Increase in sustained plumber advocacy We are scaling technical confidence We are reducing plumber friction
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 19 GWA Strategy Horizon 3: Water Solutions CAROLINE SUNARYO
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 20 Technology advancement, costs and water scarcity are pulling connected water into the mainstream HIGH COST OF WATER FAILURE Water loss and damagecause significant costs FROM PRODUCTS TO OUTCOMES Customers buy assurance, compliance and lifecycle performance EFFICIENCY AND COMPLIANCE PULL Sustainability, water conservation and health-setting obligations drive specification. TECHNOLOGY MAKES IT VIABLE Advances in hardware affordability and data-enabled monitoring make retrofit and service models commercially more attractive Value is shifting from fixtures to managed outcomes. Cost, compliance and technology are converging to create a connected water market. Horizon 3 | Water Solutions | market dynamics As connected water adoption grows, the greatest value is likely to be captured by those who enable installation, service and assurance at scale.
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 21 Horizon 3 is an adjacency, not a diversification.It builds on four assets GWA already owns. Source: GWA estimates. Horizon 3 | Water Solutions | why GWA can win Our approach is to leverage the GWA strengths to build logical adjacencies We are not inventing a new business model, we are applying a proven international model to a channel we already play in. ~100 million of our fixtures and fittings are installed across ANZ. WaterMark, WELS and AS/NZS certifications, plus unique local technical expertise to support services. Proven technology combined with trusted brand, established channel and strong installation partnerships. 01 INSTALLED BASE 02 THE PLUMBER CHANNEL Plumbers influence installation decisions. GWA’s relationship with 25,000+ plumbers. 03 04 UNIQUE TECHNICAL EXPERTISE PARTNER ECOSYSTEM
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 22 Horizon 3 | Water Solutions | our execution In market, early stage and deliberately gated before we scale Residential water intelligence and leak prevention LEAK SMARTSHIELDTM In market, early stage. Installed and operating in homes today. Smart monitoring and predictive maintenance for commercial facilities CAROMA SMART COMMAND® Established commercial solution. In 300+ commercial buildings. How we manage investment, resource and risk STAGE-GATED CAPITAL Evidence before investment PARTNERSHIP Leverage proven technology FUNDED WITHIN CURRENT SETTINGS Minimal capital allocation impact SCALING Adoption and economics first
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 23 Financial Strength & Capacity for Growth CALIN SCOTT
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 24 Returns to shareholders Five consecutive years of fully franked dividends, supplemented by an on-market buyback in FY26 18 16 14 12 10 8 6 4 2 0 FY22 FY23 FY24 FY25 FY26 Interim ordinary Final ordinary In dividends paid in the last 5 years $198m Share buyback completed in FY26 $25m Total returned to shareholders in the last 5 years $223m Dividend (cents per share)
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 25 Strong financial position Leverage inside the 1.0–2.0x target range METRICS* FY22 FY23 FY24 FY25 FY26 Net debt $138.2 $117.0 $97.0 $85.1 $127.9 Leverage (net debt / EBITDA**) 1.7x 1.5x 1.2x 1.1x 1.6x Int. cover (EBITDA** / net interest) 18.3x 13.3x 14.5x 12.6x 10.7x Gearing (net debt / net debt + equity) 26.2% 23.0% 19.9% 18.0% 25.7% $77m undrawn headroom at 30 June 2026 FACILITIES $205m multi-currency, expires October 2028 REVOLVING $165m net debt reflects planned working capital timing and share buyback MOVEMENT FY26 expires October 2027 BI-LATERAL $40m GWA remains well positioned to fund strategic growth * Metrics calculated as required for reporting to GWA’s syndicated banking group and have not been adjusted for the impact of IFRS 16 Leases. All currencies in millions of AUD. ** Normalised EBITDA
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 26 Capital management aligned to growth strategy One framework: invest behind the Horizons, hold leverage in range, return the surplus INVESTMENT IN GROWTH Investment in core growth platform and emerging opportunities $205m SHAREHOLDER RETURNS Dividend pay-out policy 65–85% of NPAT FUNDING CAPACITY of facilities: $165m Three-year term debt runs to October 2028 $40m bilateral working capital facility reviewed annually LEVERAGE Target range 1.0–2.0x EBITDA CASH CONVERSION Target range 80–85% Op CF/EBITDA
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 27 Conclusion & Trading Update URS MEYERHANS
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 28 Three takeaways 02 03 01 Strong position. Proven delivery. Leading market positions and demonstrated growth through subdued markets, supported by financial strength and capital discipline. A clear strategy across three Horizons. Deep technical expertise that differentiates GWA. Underpinning all three Horizons and our evolution from individual products towards products, solutions and services. Products → Solutions → Services HORIZON 1 Strengthen the economic engine HORIZON 2 Create plumber value and pull- through demand › › HORIZON 3 Scale proven adjacencies
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 29 FY27 Update and Outlook Key focus Q1 Performance (vs PCP) Q1 FY27 Trading Update Trading in line with expectations despite increasingly challenging markets Group Revenue (AUD) +0.3% Australia +1.8% NZ -9.1% (+0.1% in NZD) UK -5.6% (+2.4% in GBP) Group Volume +1.9% Australia +1.8% NZ -0.9% UK +3.6% Region Market Outlook GWA Strategic Response Australia • Commercial (excl data centres) slight decline due to project cancellations/deferrals. Health, aged care and education offsetting some of the decline. • Detached housing modestly higher in H1, softening in H2 • Multi-residential completions increasing through FY27 • Renovation expected to decline through FY27 with repair and replacement remaining resilient. • Spec pipeline: health, aged care and multi-res projects • Strengthen volume builder engagement • Grow priority segments through products and solutions • Focus on partnership with key merchants • Increase share of wallet of maintenance plumbers NZ • Recovery tempered by rising rates • Deepen merchant partnerships • Expand maintenance plumber engagement UK • Challenging market continues, recovery expected to be gradual • Focus on social and affordable housing • Leverage customer service strength
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 30 Questions & Answers
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GWA INVESTOR STRATEGY UPDATE 20.10.2026 | 31 Site Tour Industrial Design Manager LUKE DI MICHIEL NATHAN BYRNES Senior Logistics Manager STEVEN HANNAN Head of Product & Commercialisation Head of Research & Development JOHANN KARUNARATNE