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23 OCTOBER 2026 FY26 Annual General Meeting
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Acknowledgement of Country Temple & Webster Group acknowledges the Traditional Owners and Custodians of Country throughout Australia. We recognise their enduring connection to the lands, the waterways, and the skies. We acknowledge the Gadigal and Wangal people, on whose lands our corporate head office is located, as well as all other First Nation Countries we operate across. We pay our respects to Elders past, present and to all Aboriginal and Torres Strait Islander peoples. Bundjalung Country Byron Bay, Broken Head, Brunswick Heads, NSW Page 2
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Page 3Page 3 01 Page 3 Chair’s report MARK COULTER EXECUTIVE CHAIR
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Page 41 Revenue growth based on accounting revenue which includes deferred revenue and refund provision; FY25 also referred to as pcp Strategic execution delivered record revenue, improved unit economics, meaningful profit growth FY26 revenue $665m +11% on FY251 FY26 EBITDA $21.9m +17% on FY25 Cash balance as at 30 June 2026 $123m after $30m share buy-back • The business delivered record FY26 revenue of $665m, up 11% vs pcp, in the face of a challenging consumer environment • FY26 EBITDA of $21.9m, representing a margin of 3.3% and growth of 17% vs pcp. After excluding significant items and unrealised foreign exchange losses, EBITDA was $25.9m (+28% vs pcp) • Strong progress across all strategic priorities, with record contribution from exclusive product lines. Growth adjacencies now contribute well over $100m in annual revenue to the group • Despite variable market conditions, we are targeting EBITDA of $33 – 40m for FY27, an increase of approximately 50 – 80% over FY26, demonstrating the flexibility of our business model
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Page 5Page 5 New Board structure effective from 1 July 2026 • New Board structure announced in April 2026 (effective from 1 July 2026) alongside appointment of new CEO, Susie Sugden • Key changes included: ‒ Mark Coulter moved from Chief Executive Officer and Managing Director to Executive Chair ‒ Stephen Heath moved from Chair to Lead Independent Director ‒ Conrad Yiu moved from Deputy Chair to NED, appointed as Chair of newly formed Technology Committee • External advice sought from a corporate governance expert in relation to the revised Board structure, governance principles and independence • The Board Charter and Nomination and Remuneration Charter were amended to define the respective responsibilities of the Executive Chair, Lead Independent Director and CEO to ensure continued independent leadership and oversight • The Board considers that the new structure provides an appropriate balance between executive leadership and independent oversight Board of Directors Melinda Snowden Independent NED Chair of A&RC Michael Malone Independent NED Belinda Rowe Independent NED Chair of N&RC Conrad Yiu Co-Founder and NED Stephen Heath NED Lead Independent Director Mark Coulter Co-Founder and Executive Chair
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Page 6Page 6 02 Page 6 CEO’s report SUSIE SUGDEN CHIEF EXECUTIVE OFFICER
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Page 7Page 7 Executive summary Sustainable top-line and bottom-line growth • We have built the clear online market leader, and the #2 specialty retailer in the furniture and homewares category by wallet share • Our goal now is to deliver strong and sustainable top-line and bottom-line growth, which will lead to superior shareholder returns • The focus is on returning to sustainable double-digit revenue growth from FY28, while maintaining improved unit economics Focus on mass-mid market • We have made the strategic decision to prioritise the mass-mid market customer and will be reducing our entry level ranges over time. Note that market segments outside of the entry level are the largest by revenue, and have over 75% of the profit in the industry • We are focusing on our core offer of quality, style and value, and taking a more disciplined approach to discounting • Today we will share results of various tests which give us confidence that this strategy will lead to a bigger and more profitable business, whilst also increasing our strategic moats Page 7 Growth drivers remain in place • The growth of online penetration in our category will remain our primary tailwind as millennials enter their prime furniture buying years, and will support continued market share growth for many years to come • Today we outline new plans for marketing, range and AI strategies, which will support and accelerate our growth. Our digitally-native model gives us an edge as AI usage expands • We will also be diversifying our revenue base through initiatives beyond our core
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Page 8Page 8 Our overall market opportunity remains as large as ever 1 Source: ABS Retail Trade, Australia (June 2025); Temple & Webster internal analysis 2 Source: IBISWorld Furniture Retailing in New Zealand – Market Research Report (2015-2030); Temple & Webster internal estimates 3 Source: Euromonitor, Home and Garden, May 2025, Australia, US and UK (online penetration statistic refers to the homewares and home furnishing categories for the 2024 calendar year); New Zealand data based on Euromonitor analysis Temple & Webster remains early in its journey across a $40b+ addressable market… $40b+ total market Australian furniture and homewares $19b1 Australian home improvement $18b1 New Zealand $3b2 The ability for Temple & Webster to win in these markets remains unchanged Significant upside from growth in online penetration rates Deep experience in technology, data and AI Large, curated catalogue with strong product reviews and loved brand Best-in-class bulky logistics, flexible supply chain Asset light and low fixed cost operating model …and online penetration in Australia and New Zealand trails global markets by 5 – 7 years3 16% 20% 29% 35% New Zealand Australia United Kingdom United States
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Page 9Page 9 AI is changing retail, and amplifies our digital and tech strengths THE OPPORTUNITY WHY T&W WILL WIN • Our customer data personalises checkout, product, marketing today; search and full site next • Helping customers find what they love more easily • Opportunity to increase conversion rate and AOVs • AI agents improve efficiency in supply chain, customer case, tech and analytical work already with more to come • Widening our cost advantage over traditional retail • Robust product data and a large furniture and homewares range, ready for AI agents to search and recommend • Longer term we see LLMs as competitive tension against existing platforms 1 AI-led customer journeys AI-led workflows AI-led marketing2 3 Massive data lake on millions of Australian shopping journeys One of the best technology, data and AI teams in furniture retail in Australia Entrepreneurial culture with a track record of successful innovation Agile, asset-light business model with lower cost to serve
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Page 10Page 10 To make the world more beautiful, one room at a time.OUR VISION To be the AI-first, home and living expert.OUR MISSION OUR STRATEGIC PRIORITIES Magnetic Brand Distinctive Product Leading Experience Operational Rigour Scale For The Future OUR CUSTOMER PROPOSITION At our heart we remain a customer-centric company
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Page 11Page 11 These priorities are an evolution of our existing strategy, with a much greater emphasis on AI-enablement 01 Become the top- of-mind brand in the category 02 Majority of revenue from exclusive products 03 Leading capabilities around data, AI & technology 04 Lower fixed cost % to obtain a price and margin advantage 05 Build scale through adjacent growth plays EXISTING STRATEGIC PRIORITIES OUR PROGRESS Tested brand marketing in Brisbane + AI mid- funnel campaigns, lifting familiarity, consideration and awareness Grown exclusive product share to over 50% of revenue; >80% of our top 500 products now exclusive Accelerated investment in our internal data and AI capabilities, delivered first personalised pricing Operating cost discipline, with fixed costs falling from 12% to 10% of revenue, including AI-driven savings during FY26 Built adjacent businesses which generated over $100m in annual revenue in FY26 WHAT WE ARE EVOLVING TO Magnetic Brand Trusted and aspirational brand, with a balanced marketing mix across the funnel Distinctive Product Large, curated range, famous for quality, style and value; use of AI for planning and development Leading Experience Build customer facing AI capabilities leveraging our own product and customer data assets Operational Rigour Extend our margin advantage through our scale, automation and AI across every part of the business Scale For The Future Explore new markets in FY27, leveraging supply chain and AI for low- cost entry
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Page 12Page 12 After a +7% revenue lift in Brisbane, we will roll-out our full-funnel brand campaign nationally MAGNETIC BRAND DISTINCTIVE PRODUCT LEADING EXPERIENCE OPERATIONAL RIGOUR SCALE FOR THE FUTURE 1 Test results measured against control markets of Adelaide and Melbourne; results measured through 30 September 2026 2 Google Brand Dashboard (September 2026); results based on Queensland relative to all other Australian states and territories RESULTS SINCE 1 JULY • Tested at scale a full-funnel campaign in Brisbane metro with new creative and messaging • Strong impact after two months of media: ~40% of furniture buyers recall the campaign, with brand association exceeding 90% for outdoor and 70% for TV • Implementing an AI-led mid-funnel martech platform ONGOING ROLL-OUT • Accelerating national brand roll -out with campaign now live in Sydney and Melbourne; continued channel optimisation • Expanding use of AI-led mid funnel marketing on socials STRATEGIC PRIORITIES • By FY29: 40 – 60% of total marketing spend directed to top-of-funnel brand and mid-funnel AI assisted campaigns • Lower marketing cost (as a % of revenue); higher ROI INTERIM BRAND CAMPAIGN RESULTS +7% lift in revenue vs control markets1 +14% lift in branded search share vs rest of Australia2 +11% lift in traffic vs control markets1
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Page 13Page 13 Private label focus is lifting both revenue and margin MAGNETIC BRAND DISTINCTIVE PRODUCT LEADING EXPERIENCE OPERATIONAL RIGOUR SCALE FOR THE FUTURE 1 Test categories included quilt covers, sheets and pillowcases; control categories included quilts, pillows, mattress toppers and protectors; test results shown for September 2026 vs June and July 2026 baseline SNAPSHOT: LINEN TEST RESULTS1 +8% lift in revenue after implementation +11% year-on-year increase in delivered margin 5x Private label penetration after implementation • Completed tests across multiple classes to replace entry-level products with higher quality private label ranges, generating consistently positive results • New executive structure implemented to support new strategy, from existing headcount: Chief Product and Sourcing Officer and Chief Commercial Officer • Commenced shift to higher quality exclusive product across the entire catalogue • Stepping up private label capabilities • Leveraging in-house AI tools around assortment planning and new product development • Grow private label share to >35% of revenue • Shift drop-ship sales into higher quality, exclusive lines over time • Improving our value proposition for customers to drive confidence in tougher macro conditions RESULTS SINCE 1 JULY ONGOING ROLL-OUT STRATEGIC PRIORITIES
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Page 14Page 14 Investments in recommendations and pricing are reaching scale, with the next focus a personalised shopping assistant LEADING EXPERIENCEDISTINCTIVE PRODUCT OPERATIONAL RIGOUR SCALE FOR THE FUTUREMAGNETIC BRAND • Five AI personalisation programs live or in test, all running on one universal customer profile • Around 58,000 product pages republished so the major AI assistants can read and recommend our range • AI-led personalisation trials running, focused on promotions and shipping • Deepening our product data so AI assistants can recommend us more often • Building our AI shopping assistant to help customers find what they love STRATEGIC PRIORITIES • AI-led personalisation embedded across every customer interaction with T&W • Grow LLMs as a high ROI referral source • Higher conversion rates and basket sizes from AI -led recommendations +56% increase in conversion rate on AI- powered complementary product recommendations ~$1.2m annualised delivered margin benefit from tailored delivery cost, with no reduction in conversion +12% increase in traffic from personalised product recommendations in email RESULTS SINCE 1 JULY ONGOING ROLL-OUT
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Page 15Page 15 Agentic AI will widen our cost and margin advantage over traditional retailers OPERATIONAL RIGOURDISTINCTIVE PRODUCT SCALE FOR THE FUTUREMAGNETIC BRAND LEADING EXPERIENCE • Supplier and carrier analysis is now performed by AI agents, transforming days of work into minutes • Launched a proprietary data insights agent which is used across the company for commercial analysis • Implemented AI assisted coding across our technology team • Adopting agentic AI workflows across all departments in the business, including technology, product, finance, operations, merchandising, data and strategy • Modernising our core platform using agentic AI coding STRATEGIC PRIORITIES • Accelerate our progress to reduce our fixed costs (as a % of revenue) over time • Delivered margin and cost-to-serve improvements • Incremental widening of our cost advantage over store -based and offline retailers 12% → 10% reduction in fixed costs as a % of revenue over the last three years1 78% of SKUs flagged by our internal agent show lower damage rates vs previously 1 Fixed costs include wages, other and share-based payments expenses RESULTS SINCE 1 JULY ONGOING ROLL-OUT
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Page 16Page 16 New Zealand is our first test of an AI-led market SCALE FOR THE FUTUREDISTINCTIVE PRODUCTMAGNETIC BRAND LEADING EXPERIENCE OPERATIONAL RIGOUR • Started building a customised New Zealand storefront with AI agents, with a 5x efficiency improvement • Built the foundations for an agentic AI team to run the bulk of New Zealand operations with human supervision • Launching our dedicated New Zealand site using agentic AI as a test of a new operating model • Building the business case for a larger market on the same low-cost entry model strategy • Continuing to internationalise our private label range (e.g. instructions, packaging, sizing) STRATEGIC PRIORITIES • Grow share of revenue and profit from adjacent growth plays • Prioritise larger markets for next phase of low-cost entry strategy $117m Revenue from growth adjacencies in FY26 <9 months to contribution margin break-even in New Zealand from launch RESULTS SINCE 1 JULY ONGOING ROLL-OUT
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Page 17Page 17 A strong balance sheet supports investment for future growth, with surplus capital returned to shareholders Our five capital management priorities 01 Maintain appropriate liquidity buffers for different operating environments 02 Invest in profitable organic growth to drive market share gains 03 Invest to maintain our competitive advantages in technology, AI and innovation 04 Identify and pursue strategically relevant and accretive M&A opportunities 05 Return surplus capital to shareholders via share buy-back and other means over the longer term How the framework is being applied Balance sheet strength Debt free balance sheet, strong cash position, providing capital flexibility Cash flow generation Positive operating and free cash flow; improved margins since Q4 FY26 Focus on value accretion Target IRR greater than risk-adjusted cost of capital for all new opportunities Surplus capital returned Over $70m returned to shareholders since 2023 (12.4m shares cancelled)1 1 Measured up until 16 October 2026
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Page 18Page 18 Page 18 Trading update and outlook • Our trading has improved since our August update, and the business continues to step up its profitability in-line with our new strategy • Financial year-to-date revenue is down 8% vs pcp,1 while contribution margin dollars are up 16% over the same period.2 This implies revenue was down 4% in the period since our August trading update3 • From late February 2027, we begin to compare periods with a similar promotional depth and intensity. At this point we should return to growth, with better unit economics, and our new strategy in place focusing on sustainable top-line and bottom-line growth • We remain on track for FY27 EBITDA to be in the range of $33 – 40 million, an increase of approximately 50 – 80% over FY26. Our growth initiatives are funded within this range, which are now moving from testing to roll-out • With improving unit economics and a strong balance sheet, we remain focused on becoming the largest retailer in our category in Australia 1 Revenue growth is based on checkout revenue which is pre-accounting adjustments (deferred revenue and refund provision) for the period from 1 July to 19 October 2026 2 Based on unaudited management accounts for the period from 1 July to 19 October 2026. In this calculation, revenue is based on checkout revenue adjusted for estimated refund provision, but does not include any impact from deferred revenue 3 Based on the period from 18 August to 19 October 2026
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Page 19Page 19 Page 19 Q&A 03
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Page 20Page 20 This presentation (Document) has been prepared by Temple & Webster Group Limited ACN 608 595 660 (T&W Group or the Company). This Document is a presentation to provide background information on the Company and its subsidiaries and is not an offer or invitation or recommendation to subscribe for securities nor does it constitute the giving of financial product advice by the Company or any other person. The information in this Document is selective and may not be complete or accurate for your particular purposes. The Company has prepared this Document based on information available to it to date and the Company is not obliged to update this Document. Certain information in this Document is based on independent third-party research. 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 Document. To the maximum extent permitted by law, neither the Company, nor its directors, officers, employees, advisers or agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault, negligence or omission on the part of any person, for any loss or damage arising from the use of this Document or its contents or otherwise arising in connection with it. This information has been prepared by the Company without taking account of any person's objectives, financial situation or needs and because of that, you should, before acting on any information, consider the appropriateness of the information having regard to your own objectives, financial situation and needs. We suggest that you consult a financial adviser prior to making any investment decision. This document contains certain “forward-looking statements”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, event or result “may”, “will”, “can”, “should”, “could”, or “might” occur or be achieved and other similar expressions. These forward-looking statements reflect the current internal projections, expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are, by their nature, subject to a number of risks and uncertainties and are based on a number of estimates and assumptions that are subject to change (and in many cases outside of the control of the Company and its Directors) which may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. There can be no assurance asto the accuracy or likelihood of fulfillment of any forward-looking statements events or results. You are cautioned not to place undue reliance on forward-looking statements. Additionally, past performance is not a reliable indication of future performance. The Company does not intend, and expressly disclaims any obligation, to update or revise any forward-looking statements. The information in this Document is only intended for Australian residents. The purpose of this Document is to provide information only. All references to dollars are to Australian dollars unless otherwise stated. This document may not be reproduced or published, in whole or in part, for any purpose without the prior written consent of T&W Group. Disclaimer Page 20
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