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Growing. Diversifying. Delivering. Symal Group Limited October 2026
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Morgans Conference A diversified services platform 2 1. Employee numbers approx. as of 30 September 2026. Five- year normalised EBITDA CAGR through FY26. 2. EBITDA target included is an aspirational statement only and is not guidance. There is no guarantee of future performance, an d outcomes are subject to risks and uncertainties. 3. Refers to non-traditional infrastructure markets including energy and resources, digital infrastructure, defence and utilities. 4. Based on publicly stated investment targets and budgets for infrastructure, energy and resources, utilities, digital infrastr ucture and defence across Australia through 2035. 2 Founder led, management aligned Established footprint, national reach 69% insider owned 28 locations Shareholders making decisions for shareholders Across five states: QLD, NSW, VIC, SA and NT Self-performing model Consistent, profitable growth 2,050 employees1 27% 5Y EBITDA CAGR1 Supported by $200m of dedicated fleet and equipment Demonstrated track record of strong growth Diversified book, low concentration risk Ambition to match performance $11b WIH and pipeline $230m+ FY30 EBITDA More than 200 live projects at an average size of $20m FY30 ambition raised2. FY27 guidance reaffirmed Infrastructure Energy and resources Digital infrastructureUtilities Defence Growing and delivering consistently All market guidance met 54% of WIH in new end-markets3 ~75% of FY27 revenue secured Retained prudent risk framework Expanded electrical capability >$1 trillion of investment nationally 4 Morgans Conference
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Morgans Conference $48m $71m $87m $106m $124m $153-163m $230m+ FY22 FY23 FY24 FY25 FY26 FY27 FY30 3 1. EBITDA target included is an aspirational statement only and is not guidance. There is no guarantee of future performance, an d outcomes are subject to risks and uncertainties. 2. The industry average is extrapolated from OFSC-accredited companies in comparable industries. Per the Safety Commissioner Annual Data Report. Growing and delivering We have done it since day one, and we will continue to do it 5-year CAGRs 18% Revenue 23% NPAT 20% Operating cash flow 6.8% FY26 acquisitive growth 27% EBITDA EBITDA1 10.4% FY26 organic growth 28% WIH 25% Historical tender conversion rate of 1 in 4. Conversion rate 1.4 TRIFR 76% below industry average of 6.0 2 Growing safely FY26 guidance delivered FY25 guidance delivered EBITDA margin 8.2% 9.8% 11.1% 11.8% 11.0% 10-12% 10-12%
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Morgans Conference 46% 30% 11% 4% 5% 4% Infrastructure Energy and resources Utilities Digital infrastructure Defence Other $714m $595m $310m $1,300m $1,760m $1,900mEBT Alliance Work-in-hand by end-market Aligned to all key growth end markets Diversified model reduces risk and provides consistency of earnings 4 1. Eastern Freeway Burke to Tram. 2. Work-in-hand and pipeline figures are all as of 30 June 2026. Pipeline figures are made on the basis of reasonable grounds and assumptions however they are not guaranteed. Work-in-hand EBT1 Alliance vs totalBalanced exposure IPO Jun 25 Jun 26 $20m Approx. average contract size. 200+ live projects at any one time Low concentration risk 35% Proportion of WIH outside Victoria – up from 5% at listing Geographical diversification 54% Proportion of WIH outside traditional infrastructure – up from 21% at listing End-market diversification $1.9b $9.1b Total WIH Total tendered pipeline
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Morgans Conference Low leverage. Disciplined approach A strong balance sheet supports growth and returns 5 1. Includes facilities available as cash i.e. excludes dedicated asset finance and bond facilities. 2. 30 June 2026 Net Debt of $51.4m, divided by FY26 EBITDA of $124m. 3. Defined as Net Operating Profit after Tax divided by the average of Invested Capital across the FY26 financial year. WACC ref ers to weighted average cost of capital. Capital allocation framework Capital deployment → Drive internal capital efficiency → Disciplined minimum hurdles → Opportunistic, value accretive, sector-aligned M&A Capital provision → Strong, trusted banks → Competitive margins and terms → Prudent leverage through cycle → Maintain 10-12% EBITDA group margins → Prudent project risk approach → Optimise asset utilisation Service and return → Prioritise net debt reduction → Consistent dividends → 30 – 50% NPAT payout ratio Cash generation $259m $82m cash $177m in available undrawn facilities 1 Available liquidity Strong balance sheet 0.4x Reduces finance costs Provides capacity to grow strategically Net leverage2 23% Strong capital returns Well above WACC Return on invested capital3 $400m Revolving credit and bonding facilities
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Morgans Conference Transferable to all expanding end-markets $1 trillion+ investment in Australia’s key growth end markets, this is the opportunity 6 Infrastructure Strong core, delivering since inception Transport, ports, airports, sports, health Energy and resources 35+ completed energy projects; 20 years in resources Generation, transmission, distribution, storage Digital infrastructure Leveraging incumbency to support hyperscale expansion Data centres, AI infrastructure Utilities Recurring revenue from blue-chip client base Regulated services Defence Incumbent contractor, on-base, DISP accredited Defence infrastructure, emergency response $820m WIH + Pipeline $6.6b WIH + Pipeline $265m WIH + Pipeline $2.6b WIH + Pipeline $330m WIH + Pipeline $240b addressable market2 $500b+ addressable market3 $150b addressable market4 $62b addressable market5 $425b addressable market6 1. Work-in-hand and pipeline figures are all as of 30 June 2026. Pipeline figures are made on the basis of reasonable grounds and assumptions however they are not guaranteed. 2. Infrastructure Australia, 2025 Infrastructure Market Capacity Report, November 2025. 3. Average cost of solar, wind and Battery Energy Storage System (BESS) estimated capex per GW per Clean Energy Council Australia; AEMO and CSIRO sources. 4. Australia's data centre boom: a $150 billion investment opportunity, Commonwealth Bank, August 2026. 5. Australian Energy Regulator (AER) – Final Distribution Revenue Determinations and Regulatory Proposals (Victoria 2026–31, NSW/ACT 2024–29, QLD/SA 2025–30 determinations). 6. Integrated Investment Program, Australian Government, 2026.
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Morgans Conference Select end-market updates 71. Work-in-hand and pipeline figures are all as of 30 June 2026. Pipeline figures are made on the basis of reasonable grounds and assumptions however they are not guaranteed. 2. Australia's data centre boom: a $150 billion investment opportunity, Commonwealth Bank, August 2026. $200m worth of contracts secured including solar, wind, BESS and EV infrastructure $366m Notice to Proceed on $366m Gawara Baya Wind Farm 1 September 2026 $6b of projects progressing across renewables, storage, EV and transmission works WIH acceleration Active pipeline Gawara Baya commencement 8GW expected installed digital infrastructure capacity in Australia by 2030 2 28 early-stage opportunities beyond existing pipeline. More wins expected, progressing rapidly 17% Symal captures up to 17% of base build including remedial, civil works, structural concrete, precast structures, public realm and HV connections Forecast capacity Scope of works Future opportunities $870m diversification has come from winning in other markets not shrinking our core infrastructure WIH 20+ major near-term opportunities. The core of the business is still growing strongly $310m remaining on the EBTA project in Melbourne through FY29 Core market retained Major projects Future opportunities Infrastructure Energy Digital infrastructure Delivering energy Delivering digital infrastructureDelivering infrastructure
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Growing. Diversifying. Delivering.
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Morgans Conference Appendix Important notice 9 This document is dated 15 October 2026 and has been prepared by Symal Group Limited ACN 130 808 276 (“Symal”). This presentation has been authorised for release by the Managing Director. Summary information This material has been prepared only as a presentation aid and contains summary information about Symal and its business which is current as at the date of this presentation unless otherwise stated. This material has been prepared for information purposes only. This presentation should be read in conjunction with Symal’s most recent financial report and other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (”ASX”), which are available at www.asx.com.au under the Company’s ticker code (ASX:SYL). Not an offer of securities This material is not a prospectus, product disclosure document or other offering document under Australian law or under the law of any other jurisdiction. This material does not contain all of the information that may be required for evaluating Symal, its assets, possible valuation, prospects or potential opportunities. This presentation does not purport to be complete and should be read together with Symal’s other ASX announcements and disclosures. No liability Symal has prepared this presentation based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, Symal, its professional advisers and their affiliates and related bodies corporate and their respective officers, directors, employees and agents disclaim any liability arising from any use of this presentation or otherwise arising in connection with it, whether arising in negligence, contract, equity or otherwise. While it has been prepared from sources Symal believes to be reliable, Symal cannot guarantee its accuracy or completeness and other than as required by law – Symal undertakes no obligation to advise of changes or updates to any such materials. Neither Symal nor any other entity or person in or associated with Symal guarantees any return (whether capital or income) or generally the performance of Symal or the price at which its securities may trade. Except as otherwise expressly stated in this presentation, Symal has not authorised any person to give any information or make any representation which is not contained in this presentation. Any such information or representation not contained in this presentation must not be relied upon as having been authorised by, or on behalf of, Symal. Forward looking statements Forward-looking statements in this presentation are made on the basis of reasonable grounds and assumptions believed to be reasonable as at the date of this presentation. Forward-looking statements speak only as at the date of this presentation. Where relevant, material assumptions underlying forward-looking statements are set out in this presentation. This presentation contains information, forecasts and forward- looking statements in respect of which there is no guarantee of future performance and which of themselves involve significant risks (both known and unknown). Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding future results, regulatory approvals, production targets, sales etc. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of Symal, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward- looking information and statements. These risks and uncertainties include, but are not limited to Symal's prospects, assets, projects and business strategy. None of Symal, its Directors or officers can give, or gives, any assurance that the results, performance or achievements expressed or implied by the forward- looking statements contained in this document will actually occur or that the assumptions on which those statements are based may change or prove to be incorrect beyond the date of its making. Readers are cautioned not to place undue reliance on these forward- looking statements. Except to the extent required by law, Symal has no intention to update or revise forward- looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this presentation. You are cautioned not to place undue reliance on these forward- looking statements. There can be no guarantee that Symal will achieve its stated objectives or milestones, that its forecasts will be met or that forward- looking statements will be realised. Not financial product advice These materials do not take into account any specific objectives, financial situation or needs of any recipient or user. For these and other reasons, before undertaking any evaluation of Symal, its assets, prospects or opportunities you are strongly recommended to obtain your own independent legal, financial, taxation and commercial advice. Financial information All dollar values are in Australian dollar ($A) unless otherwise stated. Figures in this presentation are subject to rounding. The company is a kind referred to in Corporations Instrument 2016/191, issued by the Australian Securities and Investments Commission relating to ‘rounding-off’. Amounts in this report have been rounded off in accordance with the Corporations Instrument to the nearest thousand dollars, or in certain cases, the nearest dollar. This presentation refers to certain financial measures that are 'non -IFRS financial information' under ASIC Regulatory Guide 230: 'Disclosing non -IFRS financial information' and are not recognised under Australian Accounting Standards (AAS) and International Financial Reporting Standards (IFRS). The non-IFRS financial information includes normalised and pro forma results, EBITDA, EBIT, net debt and others. Such non -IFRS financial information does not have a standardised meaning prescribed by AAS or IFRS. Accordingly, the non -IFRS financial information may not be comparable to similarly titled measures provided or used by other companies and should not be interpreted as an alternative to other financial measures determined in accordance with AAS or IFRS. While Symal believes these non -IFRS financial measures provide useful information about the financial performance and condition of Symal, investors are cautioned not to place undue reliance on any non -IFRS financial information included in this presentation. The non -IFRS financial information in this presentation has not been audited or reviewed in accordance with AAS. Past performance Past performance of the Company cannot be assumed as indicative of the future performance. There is no guarantee of future performance. Actual results may differ materially from those expressed or implied in this presentation.
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