Slides
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SGH FY26 Results Presentation Ryan Stokes , MD & CEO 11th August 2026 1
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2People Assets FinancialsSGH Operations Compounding Excellence •Frontline Focused, operators over administrators •Relentless operator, focused on incremental gains •SGH Way serves as repeatable operating model •Disciplined capital allocation drives growth and durability of returns •Combining to support 0-1-10-15-30 ambitions SGH – Who We Are Industrials & Energy •$1.7t1 5-year infrastructure and construction outlook •240kpa National Housing Accord ambitions •Strong mining production outlook •Growing domestic gas demand with tightening supply •Strong global LNG demand with downside supply risks Privileged Assets •Focused on Industrials and energy •Market leading businesses with scale •Privileged assets with defensible market positions •Diversified model delivers a domestic growth runway ASX:SGH Supported by an Owner’s Mindset 34th largest ASX company ASX100 and MSCI Global indices constituents Leading Australian industrial operating business Long-run growth & TSR outperformance 1Oxford Economics
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3People Assets FinancialsSGH Operations SGH – FY26 Result Highlights SGH EBIT Composition ($m) ▲ 1% ▲ 14% ▼ 7% $104m ▼ 21% $30m ▼ 30% ($32m) ▼ 2% ▲ 1% REVENUE $10.6bn -2% vs FY25 EBITDA $2.1bn ▲ 2% vs FY25 EBIT $1.6bn ▲ 1% vs FY25 OP. CASH FLOW $2.1bn ▲ 6% vs FY25 $647m $535m $270m $1.55bn Media Corporate & Other Industrial Services (IS) +4% Industrial Services EBIT $1.5bn ▲ 4% vs FY25 Energy
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4People Assets FinancialsSGH Operations The SGH Way: Our Operating Model in Action The Model in Action 1. CVP = Customer Value Proposition The SGH Way Zero Harm One SGH Way ROCE Market cap & ASX 50 Long-Term AmbitionPerformance Flywheel edium-term EBIT & EPS CAGR
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5 SGH FY26 Results People Ryan Stokes, MD&CEO 11th August 2026
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6People Assets FinancialsSGH Operations SGH – People and Safety 1. Lost time injury frequency rate (LTIFR) = rolling 12m number of work-related injuries that resulted in time lost from work per million hours worked. 2. Total recordable injury frequency rate (TRIFR) = rolling 12m number of work-related recordable injuries per million hours worked. Rolling 12m LTIFR1 Rolling 12m TRIFR2 June 2026 June 2025 June 2026 June 2025 WesTrac 0.1 0.2 3.1 3.4 Boral 0.8 1.4 1.9 2.9 Coates 0.4 0.4 1.4 2.6 SGH Total 0.5 0.8 2.2 3.1 Safety • LTIFR of 0.5 improved 38% and TRIFR of 2.2 improved 29%, compounding prior-year gains • Targeted critical-risk and consequence-management programs delivering safety improvement • Potential serious harm prevention, deepening critical risk control verification, and investigation of control failures to support continuous improvement People and culture • 85% of SGH’s ~15,000 people (inc. contractors) are frontline, directly creating customer value • ~275,000 hours of training delivered in FY26, building technical, operational and commercial capability • Group female representation up 100bp to 20%, led by Coates at 25.1%
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7People Assets FinancialsSGH Operations SGH – Sustainability Pragmatic approach to sustainability • Guided by customer demand, regulation and disciplined capital allocation • Prioritising initiatives that meet investment criteria, alongside lower emissions Practical initiatives across our businesses • Boral Berrima alternative fuels at 48% in FY26, up ~300bp • Coates investing in lower-emission fleet • Site solar installations continue across major WesTrac and Coates sites, reducing grid demand and energy use • WesTrac remanufactured over 10k components and rebuilt over 200 machines in FY26
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8 SGH FY26 Results Operations Ryan Stokes, MD&CEO 11th August 2026
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9People Assets FinancialsSGH Operations $m FY26 FY25 % Change Revenue 10,564 10,744 (2%) Earnings before interest, tax, depreciation and amortisation 2,084 2,046 2% Earnings before interest and tax (EBIT) 1,554 1,537 1% Statutory EBIT 1,239 1,137 9% Net profit after tax (NPAT) 920 924 0% Statutory NPAT 655 486 35% Earnings per share (cps) 226 227 0% Operating cashflow1 2,072 1,951 6% Return on Equity 17.7% 19.3% -165bp Adjusted Net Debt/EBITDA (Leverage)2 1.8x 2.0x (12%) EBIT Margin 14.7% 14.3% 40bp Fully franked ordinary dividend (cps) 64 62 3% Operations – SGH FY26 Results 1. Underlying OCF pre-interest and tax 2. Leverage at 30 June 2026 Earnings and margin growth • Revenue of $10.6bn -2%, EBIT of $1.6bn up 1%, demonstrating earnings resilience • EBIT margin of 14.7% up 40bp, enabled by improvements at Boral and WesTrac • Industrial Services EBIT of $1.5bn, up 4%, led by Boral and supported by margin expansion at WesTrac • NPAT of $920m and EPS of 226cps flat; statutory NPAT of $655m up 35% • Fully franked total FY26 dividend of 64cps, up 3% Disciplined capital allocation • OCF of $2.1bn at 99% EBITDA cash conversion, driving lower net debt and 12% lower leverage at 1.8x • Buy-back of up to $500m, while retaining full capacity for value-accretive M&A FY26 Key Financials
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10People Assets FinancialsSGH Operations Operations – WesTrac Services growth drives strong result • Revenue of $5.8bn, -6% on the previously announced normalisation of capital sales • EBIT of $647m up 1%, reflecting annuity-style services revenue growth and disciplined cost control • EBIT margin of 11.2%, up 76bp, on a higher services mix, labour and workshop productivity • ROCE of 24.6%, up 186bp Services and Capital Sales • Services revenue of $4.1bn up 6%, on 6% parts volume growth, service rate gains, and higher PEX • Record rebuild activity, with run-life extension programs for tier-one miners delivered to schedule • Capital sales of $1.6bn, normalised 26% from elevated levels in FY25; strong medium term capital sales pipeline FY26 FY25 Change Revenue ($m) $5,764 $6,100 -6% EBITDA ($m) $735 $727 +1% EBIT ($m) $647 $639 +1% EBIT Margin 11.2% 10.5% 76bp ROCE 24.6% 22.7% 186bp FTE 4,266 4,442 -4% WesTrac Key Results Capital Sales and Services Revenue ($m) 1. PEX = Parts Exchange 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Capital sales Services
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11People Assets FinancialsSGH Operations Operations – Boral Top-line growth and margin expansion • Revenue of $3.8bn, up 5%, on volume growth, go-to-market execution and value-led pricing • EBIT of $535m, up 14% on top-line and margin expansion • EBIT margin of 14.1%, up 113bp on operational leverage • ROCE of 19.5% up 61bp, OCF of $779m up 13% • Cost-out and variabilisation, and network optimisation underpin margin gains through the cycle Operational uplift and cost discipline • Concrete and quarry volumes traded above prior year at improved selling prices • DOT1 of 88%, up 300bp & grade of service of 90% up 500bp, highlighting enhanced customer value proposition • Transport variabilisation, asset and network optimisation, and SG&A leverage provide further upside and progress toward sustainable mid-teen EBIT margins FY26 FY25 Change Revenue ($m) $3,788 $3,603 +5% EBITDA ($m) $778 $692 +12% EBIT ($m) $535 $468 +14% EBIT Margin 14.1% 13.0% 113bp ROCE 19.5% 18.9% 61bp OCF ($m) $779 $690 +13% Boral Key Results Boral Volumes and Pricing Outcomes 1. DOT = Deliveries on Time -3% +1% +7% +11% +4% +3% FY24 FY25 FY26 Concrete Volume Price -11% -6% +1%+15% +5% +2% FY24 FY25 FY26 Quarries Volume Price -3% +3% +2%+8% +2% +2% FY24 FY25 FY26 Cement Volume Price
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12People Assets FinancialsSGH Operations Operations – Coates Recovering customer activity • EBIT of $270m at 26.7% margin, profitability supported by decisive cost and efficiency actions • Time utilisation up 160bp to 61%, ahead of high-performance benchmark • Win rate improved to 34% and pricing traction improving late FY26 driven by improved sales execution Disciplined assets, cost and customer execution • Cost-out program delivering to plan, protecting margin while activity recovers • Fleet of $1.89bn up 2% on sustained investment, with disposal of lower utilisation equipment to optimise ROA • R&M-to-sales of 17.5% supported through ongoing hub-and-spoke branch model roll-out FY26 FY25 Change Revenue ($m) $1,012 $1,041 -3% EBITDA ($m) $469 $486 -3% EBIT ($m) $270 $290 -7% EBIT Margin 26.7% 27.8% -111bp ROCE 12.7% 13.8% -107bp Time Utilisation 61% 59% +160bp Coates Key Results Time Utilisation (%) and Fleet Size ($m) 1. TU = Time Utilisation 2. R&M = Repairs and Maintenance 55% 60% 62% 60% 59% 61% +160bp 50% 52% 54% 56% 58% 60% 62% 0 400 800 1,200 1,600 2,000 FY21 FY22 FY23 FY24 FY25 FY26 Fleet Size ($m) TU (%) Target TU (%)
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13People Assets FinancialsSGH Operations Operations – Beach Energy Beach Energy (30%) FY26 Result • FY26 production of 19.4 mmboe -2%, with higher Waitsia volumes offset by Cooper flooding and lower Otway output • NPAT of $355m down 21%, delivering $107m equity accounted EBIT to SGH • Waitsia now in production, achieved nameplate capacity of 250 TJ/day in April • Otway portfolio optimised via sale of Artisan, ability to redirect significant near-term capital • Entry into new acreage, including Taroom Trough, provides additional East Coast opportunities • Advocating for practical changes to the proposed domestic gas reservation framework, which risks jobs, tax revenue and long-term energy security FY26 FY25 Change Revenue ($m) $1,801 $1,997 -10% EBIT ($m) $559 $684 -18% EBIT Margin 31.0% 34.2% -320bp NPAT $355 $451 -21% ROCE 14.2% 16.3% -210bp Production (mmboe) 19.4 19.7 -2% East Coast gas outlook (PJ)1 0 50 100 150 200 250 300 350 400 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Existing and Committed Supply Anticipated Supply Flow from North Step Change Demand 1. AEMO 2026 Gas Statement of Opportunities (March 2026): Projected annual adequacy in southern regions, Step Change scenario; supply includes LNG flow from northern regions
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14 SGH FY26 Results Assets Ryan Stokes, MD&CEO 11th August 2026
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15People Assets FinancialsSGH Operations Assets – SGH Privileged assets, managed for returns • A portfolio of market-leading, privileged assets actively managed to maximise return on capital • Framework prioritises disciplined reinvestment and balance sheet capacity to fund the next leg of growth Investing to strengthen asset base • Boral: network reinvestment across concrete, quarries & bitumen extends asset life and integrated advantage • Coates: targeted fleet investment and renewal to lift utilisation and fleet returns • Energy: SGH Energy's 15.5% Crux interest delivers long-life LNG growth, approaching first gas (slide 16) • Property: ~3,700 ha surplus portfolio with capital-light value, led by Ravenhall and the Dexus partnership (slide 17) Boral Network Investment Coates Fleet Investment $1.89bn hire fleet at original cost 1m+ items | 22 product categories ~6 yrs average fleet age at historic lows after sustained investment >$200m committed to lower-emission fleet renewal CAPITAL ROTATED ACROSS THE FLEET Invest in categories with the strongest demand, customer pipeline and utilisation Divest lower-utilisation equipment; shift mix to higher - value and specialist categories Spare network capacity means recovery is serviced without matching capital investment
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16People Assets FinancialsSGH Operations Assets – Crux LNG Backfill Project Crux Asset Details: SGH 15.5% ownership #1-4 Resources (gross) ~1.6tcfe1 First Gas H2 20271 SGH Interest 15.5% Production life ~12 years1 Ramp up ~2 years1 Expected Plateau 8-10 years1 Expected plateau rate 0.4mtpa1 (net) Net annual LNG cargoes 5-62 Project Investment ~$1.2bn3 1. P50 expectations 2. Assuming ~70kt cargo size 3. Net to SGH, based on internal assumptions • Large LNG resource on a lower-risk backfill development pathway, approaching first gas in H2 2027 • Active offtake marketing underway, with strong interest • Material new long-life earnings and cash stream from FY28 Plateau
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17People Assets FinancialsSGH Operations Assets – Property SGH surplus property strategy • ~3,700ha of surplus property, largely quarry and plant sites in and around Australia's major cities • Managed for highest and best use, with a pre- disposition to co-develop and lease as industrial and intermodal assets • Capital-light model, with land vended in upfront, development funded by partners, and SGH retaining an interest in completed assets and rental income Ravenhall Logistics Precinct (Deer Park) • 630ha site 20km from Melbourne CBD, with ~2.5m sqm of potential net lettable area • 50/50 JV, with Boral contributing land and a Dexus-led consortium bringing capital and execution capability • Rezoning underway, with phased superlots designed to unlock value progressively Ravenhall (Deer Park) Proposed Super Lots & Regional Context SGH Key Property Opportunities By state: VIC · 4 · ~2,200 ha NSW · 3 · ~1,900 ha 1. STUDIES 2. REZONING 3. PARTNERED 4. REZONED/ ACTIVE 2 sites · ~2830 ha 2 sites · 217 ha 1 site · 630 ha 3 sites · 361 ha Waurn Ponds 1,030 ha VIC Penrith Lakes ~1,800 ha ~330 ha developable NSW Scoresby 171 ha VIC Bombo 46 ha NSW Deer Park (Ravenhall) 630 ha ~460 ha developable VIC Donnybrook 338 ha VIC Maldon 22 ha NSW Kings Square (KS5) <1 ha WA
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18People Assets FinancialsSGH Operations Assets – Surplus Property Portfolio Penrith Lakes Project AreaBombo (NSW): 46ha • Former quarry within a ~110ha precinct • Rehabilitation to be assessed as State Significant Development, with rezoning lodgement targeted in 2026 • Masterplanning underway for a future mixed-use precinct Waurn Ponds (VIC): 1,030ha • Former cement works, staged demolition underway • Progressing planning, targeting ~170ha for future industrial and commercial use Penrith Lakes (NSW): ~1,800ha • Rehabilitated quarry scheme in Western Sydney • ~330ha identified for potential urban development, with fill approvals granted in April 2026 • State-assessed rezoning pathway progressing
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19People Assets FinancialsSGH Operations The Next Leg of Growth Core Demand Thematics Remain Strong Data centres Over $100 billion of expected data centre investment announced in Australia since 2023. A convergence of construction, mining production and energy, with demand across WesTrac backup power, Boral materials, Coates hire and Beach gas for power generation. Infrastructure & construction pipeline $1.7 trillion five-year pipeline with a sustained upcycle to FY30+, captured through Boral, Coates and WesTrac. Mining production Growing or stable production outlook for key commodities driving WesTrac parts, service and rebuild demand. Committed project pipeline supports medium-term capital sales outlook. Crux LNG • First gas H2 2027, adding new long-life earnings profile Surplus Property • Ravenhall monetisation underway via Dexus JV, up to 2.5m sqm in staged superlots Boral • Network reinvestment compounding utilisation and margins toward through-the-cycle mid-teen target WesTrac • Investing in technology and facilities to lift capacity for long-term demand growth Coates • Investing in network and fleet to meet demand and drive returns Value-accretive M&A • Pursuit of adjacent and inorganic opportunities is a key pillar of SGH’s growth ambition • BlueScope demonstrated capacity to act at scale, while maintaining discipline on price and value Growing energy demand Gas-fired power demand rising to firm renewables and supply data centres and AI. Global LNG demand growing on coal-to- gas switching, captured through Beach and Crux.
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20 SGH FY26 Results Financials Richard Richards, CFO 11th August 2026
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21People Assets FinancialsSGH Operations Financials – Capital Allocation Model
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22People Assets FinancialsSGH Operations $m FY26 FY25 Change % Revenue - continuing operations 10,563.9 10,743.5 (1.7)% Other income 72.2 61.9 16.6% Share of results from equity accounted investees 143.9 183.2 (21.5)% Revenue and other income 10,780.0 10,988.6 (1.9)% Expenses (excluding depreciation, amortisation and interest) (8,696.3) (8,942.3) (2.8)% Underlying EBITDA 2,083.7 2,046.3 1.8% Depreciation and amortisation (529.5) (508.9) 4.0% Underlying EBIT 1,554.2 1,537.4 1.1% Net finance costs (298.8) (316.4) (5.6)% Underlying net profit before tax 1,255.4 1,221.0 2.8% Underlying tax expense (332.3) (293.3) 13.3% Underlying continuing operations NPAT 923.1 927.7 (0.5)% Non-controlling interest (3.0) (4.0) (25.0)% Underlying continuing operations NPAT attributable to SGH 920.1 923.7 (0.4)% Significant items (including tax impact) (230.9) (400.8) (42.4)% Statutory net profit after tax attributable to SGH 689.2 522.9 31.8% Financials – Profit and Loss
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23People Assets FinancialsSGH Operations Financials – Significant Items $m FY26 FY25 Fair value adjustments 5.0 11.9 Property EBIT (0.3) (9.8) Transformation and restructure costs (15.7) (12.1) Remediation costs on NC assets - (8.7) P&D asset impairment reversal - 2.7 Fair value movement of power purchase agreement (1.3) (5.1) Impairment of equity accounted investees (273.4) (266.9) Share of results from equity accounted investees attributable to significant items (29.3) (164.5) Cleanaway lease option - 15.0 Significant items on discontinued operations - 36.8 Significant items - EBIT impact (315.0) (400.7) Significant items in net finance expense (0.2) (9.3) Significant items - PBT impact (315.2) (410.0) Tax benefit/(expense) relating to significant items 84.3 9.2 Significant items - NPAT impact (230.9) (400.8) Statutory NPAT 692.2 526.9 NPAT excluding significant items 923.1 927.7
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24People Assets FinancialsSGH Operations Movement in Cash Balance ($m) Financials – Cash Flow 1. Interest and other costs of finance paid includes interest on lease liability payments 2. HME = Heavy Mobile Equipment $m FY26 FY25 Underlying EBIT 1,554.2 1,537.4 Add: depreciation and amortisation 529.5 508.9 Underlying EBITDA 2,083.7 2,046.3 Operating cash flow 1,491.4 1,417.2 Add: net interest and other costs of finance paid1 281.0 316.6 Add: net income taxes paid 291.8 202.8 Add: restructuring and transaction costs 7.3 14.4 Underlying operating cash flow 2,071.5 1,951.0 Underlying EBITDA cash conversion 99% 95% Operating cash flow 1,491.4 1,417.2 Investing cash flow (706.0) (677.7) Financing cash flow (724.9) (1,217.3) Net increase (decrease) in cash and cash equivalents 60.5 (477.8) Opening net debt 4,182.3 4,332.2 Movement in net debt (515.3) (149.9) Closing net debt 3,667.0 4,182.3 Key Commentary • Underlying operating cash flow of $2.1bn, at 99% EBITDA cash conversion, reflecting earnings quality • Disciplined investing cash flow and working-capital management supported a $515m reduction in net debt • Strong, consistent cash generation funds the dividend, ongoing reinvestment and capacity for the next leg of growth 177 1491 -706 -725 -5 232 0 200 400 600 800 1000 1200 1400 1600 1800
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25People Assets FinancialsSGH Operations Financials – Balance Sheet $m FY26 FY25 Change % Trade and other receivables and Contract assets 1,576.1 1,537.4 2.5% Inventories 1,922.7 2,248.3 (14.5)% Assets held for sale 7.4 7.7 (3.9)% Investments 816.8 1,088.7 (25.0)% Property, plant and equipment 3,923.2 3,767.5 4.1% Oil and gas assets 1,110.1 882.3 25.8% Intangible assets (including goodwill) 2,220.4 2,217.8 0.1% Other assets 149.4 138.8 7.6% Trade and other payables (1,186.6) (1,205.4) (1.6)% Provisions (882.6) (855.9) 3.1% Deferred income (239.7) (364.3) (34.2)% Net tax assets (liabilities) (213.4) (260.6) (18.1)% Derivative financial instruments 2.6 94.2 (97.2)% Net lease liabilities (305.7) (306.8) (0.4)% Net debt (excluding leases) (3,667.0) (4,182.3) (12.3)% Total shareholders’ equity 5,233.7 4,807.4 8.9%
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26People Assets FinancialsSGH Operations Financials – Capital Management SGH Adjusted Net Debt to EBITDA1 (Leverage) HistoryNet Debt and Leverage • Adjusted Net debt of $3.7bn, down 10% • Leverage1 reduced 12% to 1.8x • At 30 June, 68% of drawn debt was fixed, at an average rate of 5.0% • Effective SGH borrowing cost of 5.6%, with weighted average maturity of 4.1 yrs Funding and capacity for growth • Available liquidity of ~$2.0bn, ~$575m uncommitted • Boral/WesTrac USPP tranches due in FY26 repaid and no material corporate maturities until FY30 • ~$7.8bn in letters of support across 5 lenders, plus transaction-specific support provides funding capacity • Up to $500m on-market buy-back reflects balance- sheet strength and disciplined capital allocation Facility Maturity (as at 30 June 2026) 1. Leverage is Adjusted net debt to EBITDA, where Adjusted net debt (30 June 2026) = $3,664m (SGH ND), including -$3m (Derivative MtM) 2. FY27 includes undrawn $375m OEM CFAL facility and undrawn $270m bank facilities 637 775 322 1,046 986 662 709 325 - 224 49 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 >FY36 144a/RegS OEM CFAL USPP Banks 0.0x 1.0x 2.0x 3.0x 4.0x - 1,000 2,000 3,000 4,000 5,000 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 $bn Adjusted net debt Underlying EBITDA Adjusted Net Debt / EBITDA
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27 SGH FY26 Results Closing Ryan Stokes, MD&CEO 11th August 2026
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28People Assets FinancialsSGH Operations Closing – Key Messages, Priorities, & Guidance FY26 Key Messages Delivering underlying & stat growth • EBIT growth delivered in line with guidance in mixed trading conditions • Strong OCF utilised to deleverage to 1.8x, below target range • 3% dividend increase and up to $500m on-market buy-back reflect disciplined capital allocation FY27 Priorities Relentless operating • Sales execution: lift participation, conversion and price across all BUs • Cost-out and operating leverage initiatives • Scale AI for value, targeting tangible EBIT benefits • Disciplined capital allocation to drive next leg of growth FY27 Guidance Resilient outlook • SGH expects to deliver flat to low- single-digit EBIT growth in FY27 • FY27 outlook accounts for currency- driven pricing impact at WesTrac
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29People Assets FinancialsSGH Operations Basis of preparation of slides Included in this presentation is data prepared by the management of SGH Ltd (“SGH”) and other associated entities and investm ents. This data is included for information purposes only and has not been subject to the same level of review by the company as the financial statements, so is merely provided for indicative purposes. The company and its employees do not warrant the data and disclaim any liability flowing from the use of this data by any party. SGH does not accept any liability to any person, organisation or entity for any loss or damage suffered as a result of relian ce on this document. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, and are subject to variation. All forward-looking statements in this document reflect the current expectations concerning future results and events. Any forward-looking statements contained or implied, either within this document or verbally, involve known and unknown risks, uncertainties and other factors (including economic and market conditions, changes in operating conditions, curre ncy fluctuations, political events, labour relations, availability and cost of labour, materials and equipment) that may cause actual results, performance or achievemen ts to differ materially from the anticipated results, performance or achievements, expressed, projected or implied by any forward -looking statements. Unless otherwise indicated, all references to estimates, targets and forecasts and derivations of the same in this material are references to estimates, targets and forecasts by SGH. Management guidance, estimates, targets and forecasts are based on views held only at the date of this material, and act ual events and results may be materially different from them. SGH does not undertake to revise the material to reflect any future events or circumstances. Where guidance has been provided by an entity not fully owned by SGH, it has been determined by the respective management and Boards of those businesses and adopted by management in framing SGH guidance. Period-on-period changes that are greater than 100%, less than (100)% or change between positive and negative are omitted for pr esentation purposes. It should be noted that no universally accepted framework (legal, regulatory, or otherwise) currently is in force. The inclus ion or absence of information in SGH’s ESG Statements should not be construed to represent any belief regarding the materiality or financial impact of that information. ESG Statem ents may be based on expectations and assumptions that are necessarily uncertain and may be prone to error or subject to misinterpretation given the long timelines involved and the lack of an established single approach to identifying, measuring and reporting on many ESG matters. Furthermore, no assurance can be given that such a univ ersally accepted measurement framework or consensus will develop over time. Although there is regulatory efforts to define such concepts, the legal and regulatory fram ework governing sustainability is still developing, including obligations such as Scope-3 reporting. Calculations and statistics included in ESG Statements may be based on historic al estimates, assumptions and projections as well as assumed technology changes and therefore subject to change. SGH’s ESG Statements have undergone a limited independent assurance review, please refer to the Annual Report for further detail. Non-IFRS Financial Information SGH results comply with IFRS Accounting Standards. The underlying segment performance is presented in Note 2 to the financial statements for the period and excludes Significant Items comprising impairment of equity accounted investees, investments and non- current assets, fair value movement of derivatives, net gains on sale of investments and equity accounted investees, restructuring and redundancy costs, share of results from equity accounted invest ees attributable to Significant Items, loss on sale of investments and derivative financial instruments, acquisition transaction costs, significant items in other income, remeas urement of tax exposures and unusual tax expense impacts. This presentation includes certain non-IFRS measures including Underlying Net Profit After Tax (excluding Significant Items), to tal revenue and other income, Segment EBIT margin and Segment EBITDA margin. These measures are used internally by management to assess the performance of the business, make decisions on the allocation of resources and assess operational management. Non-IFRS measures have not been subject to audit or review. Disclaimer