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FY2026 Results Y ear ended 30 June 2026 · Released 27 August 2026 INVESTOR PRESENTATION
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M A Y F I E L D G R O U P H O L D I N G S L T D Record revenue and earnings , with FY2027 guidance of $224 to $229 million F Y 2 0 2 6 A T A G L A N C E 2 1. Underlying NPAT is a non-IFRS measure that excludes separately disclosed items; reconciliation on slide 23 and note 8 of the FY2026 financial statements. 2. NPATA is underlying NPAT before the after-tax amortisation of acquired intangibles; reconciliation on slide 23. Statutory NPAT was $8.0 million (FY2025: $6.8 million), up 18.9%, after $2.9 million of separately disclosed acquisition-related, contingent consideration and legacy legal items. Two acquisitions completed, $33.5 million of new equity raised, capacity expanded in SA and WA, and a third acquisition signed after year-end. FY2027 revenue guidance is a management estimate, supported by work in hand of $135 million at 30 June 2026. M A Y F I E L D G R O U P H O L D I N G S L T D $169.0m REVENUE ▲ 43.0 % FY2025 $118.1m $18.5m UNDERLYING EBITDA ▲ 54.0 % FY2025 $12.0m $12.8m PROFIT BEFORE TAX ▲ 29.2 % FY2025 $9.9m $10.9m UNDERLYING NPAT1 ▲ 50.1 % FY2025 $7.3m 4.4c ORDINARY DIVIDENDS ▲ 37.5 % FY2025 3.20c ordinary $11.4m NPATA2 ▲ 55.8% FY2025 $7.3m $224–229m FY2027 REVENUE GUIDANCE ▲ 33–36% FY2026 $169.0m 10.1cps UNDERLYING BASIC EPS ▲ 28.8% FY2025 7.8cps
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M A Y F I E L D G R O U P H O L D I N G S L T DThe Group reports one operating segment. These platforms describe operating capability for context only and are not reportabl e segments; no segment results are presented for them. Key Industries Served: Telecommunications Defence Industrial & Commercial Data Centres Adelaide Melbourne Sydney Brisbane KalgoorliePerth Manufacturing Service Operations Renewable Energy Mining & Resources Utilities & Networks Infrastructure & Transport A diversified platform operating across three core divisions PRIMARY EARNINGS DRIVER Australian-made electrical infrastructure for the nation’s most critical operations. Design, manufacture and deliver switchboards, transportable switchrooms, kiosk substations & custom solutions for specific projects. Manufactured in SA and WA. M A N U F A C T U R I N G PROJECT BASED REVENUE Communications and network solutions for critical infrastructure, allowing customers to monitor and control sites remotely. Drawing on Mayfield's manufacturing base and customer relationships, paired with power infrastructure to provide integrated solutions for modern digital networks PRODUCT SOLUTIONS Supplies critical power components like UPS systems, batteries, and test instruments to ensure a reliable network. P R O D U C T S O L U T I O N S C R I T I C A L C O N T R O L & C O M M U N I C A T I O N S Adelaide Melbourne Sydney Brisbane KalgoorliePerth Manufacturing Service Operations Telecommunications Defence Industrial & Commercial Data Centres Renewable Energy Mining & Resources Utilities & Networks Infrastructure & Transport K E Y I N D U S T R I E S S E R V E D : A U S T R A L I A ’ S L E A D I N G P R O V I D E R O F C R I T I C A L E L E C T R I C A L I N F R A S T R U C T U R E 3
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M A Y F I E L D G R O U P H O L D I N G S L T D 1. Underlying EBITDA and underlying EBITDA margin are non-IFRS measures that exclude separately disclosed items; underlying EBITDA was $18.5 million in FY2026. Reconciliation on slide 23; definitions in note 8 of the FY2026 financial statements. 2. Declared dividends are shown in respect of the financial year. FY2025 includes a one -off special dividend of 5.3 cents; FY2025 ordinary dividends were 3.20 cents. $3.9m $4.8m $9.9m $12.8m FY23 FY24 FY25 FY26 1.71 3.00 8.50 4.40 FY23 FY24 FY25 FY26 M O M E N T U M C O N T I N U E D A C R O S S K E Y M E T R I C S I N F Y 2 6 Momentum continued across key metrics in FY26 PBTREVENUE $77.8m $85.7m $118.1m $169.0m FY23 FY24 FY25 FY26 29.5% CAGR DECLARED DIVIDENDS2 (CPS) 6.40 5.63 7.23 7.38 FY23 FY24 FY25 FY26 UNDERLYING EBITDA, & MARGIN1 BASIC EPS (CPS) $6.7m $6.9m $12.0m $18.5m8.7% 8.1% 10.1% 10.9% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% $.0m $2.0m $4.0m $6.0m $8.0m $10.0m $12.0m $14.0m $16.0m $18.0m $20.0m FY23 FY24 FY25 FY26 4 5.3 Special dividend
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M A Y F I E L D G R O U P H O L D I N G S L T D • Manufacturing was the primary driver for revenue growth, Critical communications delivered improvements in FY26 • Revenue growth supported by 10 months’ contribution of BE Switchcraft and 3 months’ contribution of SMEC • Underlying NPAT grew 50.1%, with organic growth of ~23% excluding acquisition contributions • Underlying EBITDA margin expanded 80 basis points to 10.9%, reflecting operating leverage across the enlarged group • Underlying EPS, adjusted for one-off items, rose 28.8% • Basic EPS rose 2.1%, lagging earnings growth due to the larger share count from the November 2025 raising and acquisition scrip • No drawn debt at 30 June 2026, with $21.8m cash; a substantial portion is committed post year-end to the SMEC earnout, the Nilsen payment, working capital and capex FY2026 FY2025 CHANGE Revenue $169.0m $118.1m ▲ 43.0% Underlying EBITDA1 $18.5m $12.0m ▲ 54.0% Underlying EBITDA margin1 10.9% 10.1% ▲ 80 bps Underlying NPAT1 $10.9m $7.3m ▲ 50.1% Underlying EPS1 10.05c 7.80c ▲ 28.8% Statutory profit before tax $12.8m $9.9m ▲ 29.2% Statutory NPAT $8.0m $6.8m ▲ 18.9% Basic EPS 7.38c 7.23c ▲ 2.1% Operating cash flow $5.0m $9.5m ▼ 47.1% Cash at 30 June $21.8m $16.9m ▲ 29.0% Commentary F I N A N C I A L P E R F O R M A N C E FY26 Results overview 5 1. Non-IFRS measures excluding separately disclosed items; reconciled on slide 23 and in note 8 of the FY2026 financial statements.
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M A Y F I E L D G R O U P H O L D I N G S L T D $118m $20m $19m $12m $169m $204m FY25 Organic revenue BE Switchcraft (10-mths contribution) SMEC (3-mths contribution) FY26 FY26 Proforma 1. FY26 Pro-Forma assumes annualised contributions from BE Switchcraft ($21m) and SMEC ($45m) 1 F Y 2 6 R E V E N U E B R I D G E Revenue up 43%, with 17% organic growth 6
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M A Y F I E L D G R O U P H O L D I N G S L T D $7.3m +$1.6m $8.9m +$0.6m +$1.4m $10.9m FY2025 Underlying NPAT Organic growth Existing business FY2026 organic +22% on FY2025 BE Switchcraft Acquired SMEC Acquired FY2026 Underlying NPAT Organic growth excludes the FY2026 underlying NPAT contributions of the acquired businesses. Chart axis does not start at zero. F Y 2 6 U N D E R L Y I N G N P A T B R I D G E Underlying NPAT up 50.1%, ~23% organic 7
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M A Y F I E L D G R O U P H O L D I N G S L T D 8 BE SWITCHCRAFT Big wins year with Osborne Shipyards and Mt Barker Hospital. Assisting Mayfield Industries with delivery of data centre projects. From FY27 will incorporate Nilsen’s Switchboards division at the expanded Old Port Road facility. $1.4m FY26 PROFIT AFTER TAX $18.6m REVENUE CONTRIBUTED 29 August 2025 to June 2026 SMEC POWER & TECHNOLOGY Diversifies the customer base, Completed 29 August 2025 Underground mining electrical infrastructure from Perth and Kalgoorlie. The contingent consideration liability was carried at a fair value of $9.4 million at 30 June 2026 and settled for $8.6 million ($6.3 million cash plus 1,066,561 shares at $2.16) on 29 July 2026 in cash and scrip. $0.6m FY26 PROFIT AFTER TAX $11.9m REVENUE CONTRIBUTED 1 April to 30 June 2026 Deepens resources exposure, Completed 31 March 2026 F Y 2 0 2 6 A C Q U I S I T I O N S Two acquisitions, both performed in line with expectations
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M A Y F I E L D G R O U P H O L D I N G S L T D Operating cash flow of $5.0 million is after $2.3 million of income taxes paid (FY25: nil), a working capital injection into newly acquired SMEC, and project timing across a 43% larger revenue base. M O V E M E N T I N C A S H A N D C A S H E Q U I V A L E N T S , F Y 2 0 2 6 Cash Conversion $16.9m Cash at 1 July 2025 +$18.5m Underlying EBITDA ($13.4m) Tax, interest & working capital +$32.7m Net proceeds from share issues $3.9m $12.2m ($16.1m) Acquisitions, net of cash ($10.6m) Property, plant & equipment ($1.7m) Borrowings and lease payments ($4.5m) Dividends paid $21.8m Cash at 30 June 2026 SMEC BE Switchcraft FY2026 was the first year of material income tax payments as prior-year tax losses were substantially utilised. Working capital also absorbed cash, reflecting an injection into newly acquired SMEC and project timing. A further $1.3m was paid into trust for the Nicon matter, settling a provision built up over prior years; the related underlying EBITDA add-back was $0.8m of costs. • FY2025 79% on nil income tax paid • FY2026 27% as reported • FY2026 46% excl. tax and trust • FY2026 55% same, vs statutory Why cash conversion stepped downOperating cash flow Operating cash flow $5.0m EBITDA to cash conversion 27% 9
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M A Y F I E L D G R O U P H O L D I N G S L T D F I N A N C I A L P O S I T I O N Debt free, with the balance sheet reset for growth BA LANCE SHEET as at 30 June 2026 FY2026 FY2025 Cash and cash equivalents 21.8 16.9 Trade and other receivables 31.5 12.6 Contract assets 13.7 8.6 Inventories 8.5 4.4 Total current assets 77.9 43.8 Total non-current assets 65.7 22.1 Total assets 143.6 65.9 Total current liabilities 52.9 29.5 Total non-current liabilities 10.7 1.7 Total liabilities 63.6 31.3 Net assets 80.0 34.7 Total equity 80.0 34.7 10M A Y F I E L D G R O U P H O L D I N G S L T D • Total assets up 118% to $143.6m following acquisition activity • Net assets more than doubled to $80.0m • Cash of $21.8m, up 29% year on year • Intangibles rose to $28.3m from goodwill and acquired customer intangibles • Gearing remains modest with no bank borrowings outstanding Strengthened balance sheet, strong cash position
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M A Y F I E L D G R O U P H O L D I N G S L T D AI AND DATA CENTRES • Power-intensive computing is driving sustained switchboard and switchroom demand; now one of the largest sources of activity and pipeline. MINING ELECTRIFICATION • SMEC adds underground mining electrical infrastructure, servicing 85% of the top 20 WA gold producers1, with exports to Africa and Asia. ENERGY TRANSITION • Renewables, BESS2 and kiosk substations supporting grid investment and decarbonisation. CRITICAL INFRASTRUCTURE • Utilities, transport, defence and telecommunications networks requiring sovereign manufacturing capability. 11 99 104 114 135 Dec-24 30-Jun-25 Dec 25 30-Jun-26 1. Company estimate of top 20 WA gold producers serviced during FY2026; not independently verified. 2. Battery Energy Storage Systems 3. Work in hand is unaudited management information, not defined by Australian Accounting Standards, and is a point-in-time balance at each date shown; the 30 June 2026 balance includes work in hand with SMEC Structural drivers, visible in the order book E N D M A R K E T S A N D D E M A N D WORK IN HAND ($M)3 HOW WORK IN HAND FILLS FY2027 • The balance moves month to month; a point-in-time figure understates a full year of capacity. • BE Switchcraft and SMEC run short-cycle work, so their work in hand converts to revenue and replenishes within the year. • N-Series is expected to transfer with a further $3.9m of work in hand, also short-cycle; this is a management estimate and is not included in the $135m.
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M A Y F I E L D G R O U P H O L D I N G S L T D12 Cape Lambert High Density Ore Project Delivered 9 switchrooms and 30 LV switchboards for the upgrade of the Cape Lambert Port in the Pilbara, a key iron export hub for Rio Tinto. F Y 2 0 2 6 P R O J E C T S Major projects in FY26 Mel03 Data Centre Stages 1 & 2 Delivered 18 switchrooms and 96 switchboards for Stages 1 & 2 of the M3 Melbourne DC in West Footscray. Mel03 is a 225MW Tier IV certified data centre spanning more than 41,000m2 Central West Orana Renewable Energy Zone Delivering 26 control rooms and 200 protection panels for the REZ in the Central-West Orana Region. This REZ is approximately 20,000m2 and will unlock at least 4.5 GW of new network capacity before 2030
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M A Y F I E L D G R O U P H O L D I N G S L T D Provide an FY2027 outlook at the full-year result FY2027 priorities and revenue outlook provided with the FY2026 full-year results DELIVERED D E L I V E R Y A G A I N S T F Y 2 0 2 6 C O M M I T M E N T S Consistent operational execution COMMITMENT OUTCOME STATUS Complete the SMEC Power & Technology acquisition Completed 31 March 2026; contributing $11.9m to revenue in FY26 and performing in line with expectations DELIVERED Fund growth while preserving balance sheet strength $33.5 million raised (placement and SPP) in November 2025; no drawn borrowings and $21.8 million cash at 30 June 2026 DELIVERED Expand manufacturing capacity Old Port Road SA facility acquired January 2026 ($8.4 million) and Hope Valley WA facility added DELIVERED Continue fully franked dividends Interim 2.0 cents paid March 2026; final 2.4 cents declared 26 August 2026; 4.4 cents for FY26 DELIVERED Complete and integrate the BE Switchcraft acquisition Completed 29 August 2025; contributing $18.6m to revenue in FY26 and performing in line with expectations DELIVERED 13
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M A Y F I E L D G R O U P H O L D I N G S L T D 14M A Y F I E L D G R O U P H O L D I N G S L T D • Dedicated Environmental Specialist appointed • Scope 1 and 2 emissions monitored and reported • Solar generation and battery storage investment at SA facilities • Preparing for mandatory climate-related disclosure • Mayfield’s growing national workforce of 535 employees as at 30 June 2026 spans five business units and five states • Apprenticeship and technical training programs continue to build sovereign capability • Employee share and option plans extend employee ownership • Operating model, organisational structures and leadership capability strengthened to support scale and future growth • Acquired workforces successfully integrated into the Group • FY2026 LTIFR = 0 • ISO 45001 occupational health and safety certifications maintained across operations. • Safety systems and culture being harmonised across newly acquired businesses as the Group grows. R E S P O N S I B L E G R O W T H Safety , environment and people SAFETY ENVIRONMENT PEOPLE
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Outlook 15
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M A Y F I E L D G R O U P H O L D I N G S L T D V I S I B L E P A T H T O F Y 2 0 2 7 R E V E N U E G R O W T H Guidance of $224–229 million, supported by work in hand and a building pipeline 1. Work in hand is unaudited management information, is not defined by Australian Accounting Standards and is not a revenue forecast. FY2027 revenue guidance is a management estimate and depends on the timing and execution of project delivery and the staged transfer of the N-Series business. 2. WIH at 30 June 2025 does not include $10 - $15m in forecast revenue from the Nilsen acquisition Revenue guidance of $224 –229 million, supported by work in hand and a building pipeline 16 $169m $224–229m FY2026 revenue FY2027 revenue guidance ▲ 33–36% Revenue growth FY27 GUIDANCE • FY27 revenue expected in a range between $224 and $229 million, representing growth of 33 to 36% • Guidance reflects a full-year contribution of SMEC & BE Switchcraft and an 8-month contribution of the N-Series switchboards platform • $135 million Work in Hand (as at 30 June 2026) underpins near-term revenue
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M A Y F I E L D G R O U P H O L D I N G S L T D S T R A T E G I C P I L L A R S FY27 strategic initiatives 03 DRIVE DIGITISATION AND OPERATIONAL EXCELLENCE • Digitise operations end to end, creating a connected digital thread from estimating through to service • Apply LEAN principles across all operations. 04 STRENGTHEN MARKET POSITION • Grow share in utilities, renewable energy, data centres, resources and infrastructure. • Integrate and scale BE Switchcraft, SMEC and N-Series capabilities; convert cross-selling across the enlarged customer base into revenue. • Supported by cross-selling across the enlarged customer base. 01 EXPAND MANUFACTURING CAPACITY • Ramp up facilities at Hope Valley WA from December 2026 to meet demand. • Staged transfer of employees and assets to Royal Park by 31 October 2026; N-Series production established in SA. • Pursue East Coast expansion. 02 GROW THROUGH PRODUCT DEVELOPMENT • Develop capabilities in medium voltage switchgear, transformers, battery energy storage, kiosk substations and related energy infrastructure. 17M A Y F I E L D G R O U P H O L D I N G S L T D
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M A Y F I E L D G R O U P H O L D I N G S L T D • Adds the proven N-Series product platform to Mayfield’s offering. The N Series switchboard has a large install base across mining, infrastructure and data centres all over Australia. Its unique design, alongside Mayfield’s signature Moducell increases our product base • Supports rapid utilisation of the Old Port Road facility, acquired in January 2026 • Platform, IP, employees, customer contracts, inventory and manufacturing assets transferred, strengthening Mayfield’s skilled workforce and manufacturing capability • Creates a stronger platform for organic growth through people, IP and customer relationships • Expected FY2027 revenue contribution of $10 to $15 million2 1. The Nilsen brand, significant excluded projects and certain other assets and liabilities retained by the vendor do not form p art of the transaction 2. Unaudited management estimate; not disclosed in the FY2026 financial statements S U B S E Q U E N T T O Y E A R - E N D Nilsen Switchboard division Concluded the acquisition of Nilsen’s Switchboards Division on 31 July 2026 for $4.0 million cash1. 18M A Y F I E L D G R O U P H O L D I N G S L T D
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M A Y F I E L D G R O U P H O L D I N G S L T D WESTERN AUSTRALIA Hope Valley, Bibra Lake & Kalgoorlie • New 20,000m² Hope Valley facility available from 1 Dec 2026. • Plus SMEC operations servicing mining customers in WA and export markets SOUTH AUSTRALIA Edinburgh & Old Port Rd • Edinburgh is home to our head office and primary manufacturing campus. • Old Port Road acquired Jan 2026 for $8.4m, adding 10,410m², the site adjoins BE Switchcraft and will be utilised by N-Series and BE Switchcraft as volumes build. QUEENSLAND Brendale Depot for all Mayfield Group Businesses NEW SOUTH WALES Lane Cove ATI Headquarters VICTORIA Broadmeadows Power Parameters Headquarters A N A T I O N A L M A N U F A C T U R I N G A N D S E R V I C E S F O O T P R I N T CAPACITY TO GROW FROM ~55,000 TO ~73,000 M² NEXT East Coast Expansion Further manufacturing expansion opportunities on the East Coast and in other growth markets to meet demand. 19 FY2027 GROWTH IS SUPPORTED WITHOUT FURTHER MAJOR CAPITAL INVESTMENT FOOTPRINT • Group manufacturing footprint increases by 18,000m2 • 10,410 m² at Old Port Road and 20,000 m² at Hope Valley • or ~32%, on the ~55,000m2 operating before these additions.
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M A Y F I E L D G R O U P H O L D I N G S L T D PURE-PLAY EXPOSURE The only ASX-listed pure-play electrical infrastructure manufacturer, supplying the physical backbone for data centres, renewable energy, mining electrification and grid modernisation. STRUCTURAL DEMAND Long-term investment in electrification, AI-driven data centre power demand, mining electrification and critical communications underpins the order book, which grew from $104 million to $135 million during FY26. DELIVERY RECORD Three acquisitions completed in twelve months on disciplined terms, $33.5 million capital raised as planned and fully franked dividends maintained throughout the growth phase. CAPACITY TO COMPOUND Debt free at 30 June 2026, complementary businesses across manufacturing, products and critical communications, new facilities in SA and WA, and cross-selling across an enlarged customer base. Why Mayfield T H E I N V E S T M E N T C A S E 20
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Appendices 21
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M A Y F I E L D G R O U P H O L D I N G S L T D Design Install Service & Maintain Modernise Replace 22 C O M P L E T E L I F E C Y C L E S O L U T I O N S DEFENCE & GOVERNMENT ENERGY & RENEWABLES INFRASTRUCTURE DATA CENTRES BESS MINING
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M A Y F I E L D G R O U P H O L D I N G S L T D PROFIT BEFORE TAX TO UNDERLYING EBITDA FY2026 FY2025 Statutory profit before tax $12.8m $9.9m Depreciation and amortisation $3.4m $1.9m Net finance income ($0.6m) ($0.3m) EBITDA $15.5m $11.5m Acquisition and transaction costs $1.2m - Contingent consideration fair value movement $0.9m - Legacy legal matter (pre-2020 Stream Group) $0.8m $0.5m Underlying EBITDA $18.5m $12.0m STATUTORY NPAT TO NPATA FY2026 FY2025 Statutory NPAT $8.0m $6.8m Add back: after-tax separately disclosed items $2.9m $0.5m Underlying NPAT $10.9m $7.3m Add back: after-tax amortization of acquired intangibles $0.4m - NPATA1 $11.4m $7.3m Underlying EPS 10.05c 7.80c Statutory to underlying reconciliation 1 F R O M P R O F I T B E F O R E T A X T O N P A T A 23M A Y F I E L D G R O U P H O L D I N G S L T D • Amortisation of acquired intangibles reduces statutory profit but has no cash impact. Adding it back after tax gives NPATA of $11.4 million (FY25: $7.3 million). • Separately disclosed items of $2.9 million after tax are one-off in nature and are excluded from underlying measures. Including: • SMEC & BE Switchcraft acquisition & Transaction costs of ~$1.2m • SMEC Contingent consideration fair value movement ~$0.9m • Legacy legal matter (pre-2020 Stream Group) ~$0.8m 1. Definitions and reconciliations: note 8 of the FY2026 financial statements.
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M A Y F I E L D G R O U P H O L D I N G S L T D 24M A Y F I E L D G R O U P H O L D I N G S L T D DIVIDEND CENTS PER SHARE FRANKING PAID / PAYABLE FY25 interim 1.00 100% March 2025 FY25 special 5.30 100% March 2025 FY25 final 2.20 100% September 2025 FY26 interim 2.00 100% 19 March 2026 FY26 final (declared 26 Aug 2026) 2.40 100% 17 September 2026 The estimated final distribution is based on shares on issue at 31 July 2026 and will be determined by the number of shares on issue at the record date. FY2025 included a one-off special dividend of 5.3 cents, taking total FY2025 dividends declared to 8.5 cents Fully franked ordinary dividends increased through growth S H A R E H O L D E R R E T U R N S The FY26 final dividend of 2.40 cents has a record date of 4 September 2026 and an estimated total distribution of $2.86 million. FY25 included a one- off special dividend of 5.3 cents. 4.4c FY2026 ORDINARY DIVIDEND DECLARED ▲ 37.5 % (FY2025 Ordinary 3.20c)
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M A Y F I E L D G R O U P H O L D I N G S L T D SUMMARY INFORMATION NOT INVESTMENT ADVICE FORWARD-LOOKING STATEMENTS NON-IFRS FINANCIAL INFORMATION UNAUDITED OPERATIONAL DATA ROUNDING AND CURRENCY A U T H O R I S E D F O R R E L E A S E B Y T H E B O A R D O F M A Y F I E L D G R O U P H O L D I N G S Important information 25
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