Slides
Page 1
UNIVERSAL STORE HOLDINGS LIMITED ACN 169 039 721 H1 FY26 RESULTS PRESENTATION 19 February 2026 Universal Store Holdings Ltd ABN 94 628 836 484 For personal use only
Page 2
AGENDA H1 FY26 RESULTS PRESENTATION 1. H1 FY26 Overview 2. Financial Results 3. Business Update 4. Trading Update & Outlook 5. Appendices Alice Barbery GROUP CEO 16 years at Universal Store 30+ years’ industry experience PRESENTERS CONTENTS OUR LANGUAGE: “UNI”, “Group” or “the Company” = Consolidated group parent “US” = Universal Store = Universal Store business (including PS) “CTC” = THRILLS, Worship, and other emerging CTC developed brands “PS” = Perfect Stranger retail store format and website Ethan Orsini GROUP CFO 1.5 years at Universal Store 20+ years’ retail experience 2 For personal use only
Page 3
1 H1 FY26 OVERVIEW H1 FY26 RESULTS PRESENTATION 3 For personal use only
Page 4
THE GROUP DELIVERED A STRONG RESULT – UNDERLYING EBIT1 INCREASED +23.2% DRIVEN BY SALES GROWTH AND GROSS PROFIT % IMPROVEMENT H1 FY26 RESULTS PRESENTATION GROUP PERFORMANCE: Sales of $209.6 million (+14.2% vs pcp). Underlying EBIT1 of $43.6 million, up $8.2 million vs pcp (+23.2%) Group gross profit of 62.1% expanded 150bps on pcp reflecting improvements in both US and CTC CODB increased 50bps to 31.4% of sales driven by investment in team and system capability. Increased incentive provisioning reflecting stronger underlying performance 1 US: Sales of $174.8 million (+11.9% on pcp). Four new stores opened during the half, with one planned closure due to centre redevelopment. Total store network of 87. LFL sales growth of +8.7%2 (H1 FY25 LFL sales +14.4%). Sales growth driven by on-trend, differentiated product offering complemented with premium pricing strategy and disciplined inventory management 3 PS: Sales of $17.8 million (+41.5% on pcp). Three new stores opened in H1 FY26 for a total network of 22 stores. LFL sales growth of +14.8%2 (H1 FY25 LFL sales +25.3%) Product range continues to evolve, focusing on quality and refined collections Continued investment in team to build depth and capability enabling future growth 2 CTC: Total sales of $23.2 million (+4.8% on pcp). One new store opened in H1 FY26 for a total store network of nine stores. Retail LFL sales growth of +9.5%2 (H1 FY25 LFL sales +3.2%). Improved retail and product execution continues to build confidence in the retail strategy. Wholesale sales down -2.4% on pcp driven by planned reduction of exports to the USA. Increase in third-party wholesale sales offsetting reduced intercompany sales to US 4 BALANCE SHEET & DIVIDENDS: Strong balance sheet with a closing cash balance of $38.4 million and nil borrowings (excluding lease liabilities) H1 FY26 fully franked final dividend of 26.0 cps. This represents an 71% payout ratio on underlying profit and an +18.1% increase on H1 FY25 (22.0 cps) 5 4 UNI GROUP H1 FY26 OVERVIEW 1. Comparative Underlying EBIT and NPAT excludes the impact of the FY25 DVC adjustment and CTC goodwill impairment charge 2. US LFL (like-for-like) sales exclude the CTC and Perfect Stranger retail formats and are calculated daily (30 June 2025 to 28 December 2025), excluding closed stores from the day of closure and new stores until they have cycled the first three weeks of operation For personal use only
Page 5
UNI GROUP H1 FY26 FINANCIAL HEADLINES H1 FY26 RESULTS PRESENTATION 5 $209.6m Sales +14.2%1 1. All growth percentages are comparative to the H1 FY25 prior corresponding period (pcp) 2. Comparative Underlying EBIT and NPAT excludes the impact of the FY25 DVC adjustment and CTC goodwill impairment charge 3. Comparative Statutory NPAT includes FY25 adjustments to CTC goodwill ($13.6m impairment charge) and DVC ($1.7m income adjustm ent) 4. Underlying EPS is calculated from underlying NPAT and the weighted average shares outstanding during the period (76.7m FY26 v s 76.5m FY25) 5. Represents underlying operating cash flow before interest and tax 5 36.8 cents Underlying EPS4 +21.5% $43.6m Underlying EBIT2 +23.2% (20.8% of Sales) $27.8m Online Sales +10.4% (13.3% of Sales) 26.0 cps H1 FY26 Dividend +18.1% $28.3m Underlying NPAT2 +22.0% 62.1% Gross Profit % +150bps $72.1m Underlying Cash Flow from Operations5 +3.0% $28.3m Statutory NPAT3 +150.4% For personal use only
Page 6
Total sales of $209.6 million (+14.2% vs pcp). Group 5-year sales CAGR of +12.2% (H1 FY21 to H1 FY26) 1 US 6-year average LFL sales growth of +7.9%2 Eight new stores opened in H1 FY26 – four US, three PS, & one THRILLS store. As planned, one US store closed in H1 FY26. The Group had 118 stores at 31 st December 2025 (excluding webstores) Continued expansion of the PS retail format with 22 PS stores trading at 31 st December 2025. PS contributed 8.5% of total Group sales in H1 FY26 vs 6.9% in pcp Underlying EBIT of $43.6 million (+23.2% on pcp). H1 FY26 underlying EBIT translates to a 5-year CAGR of +6.6% (FY21-FY26) 3 118 108 146 158 184 210 93 100 117 131 150211 208 263 289 333 FY21 FY22 FY23 FY24 FY25 H1FY26 GROUP SALES (A$ MILLION)¹ H1 H2 32 20 28 31 35 44 13 13 12 16 19 45 33 40 55 FY21 FY22 FY23 FY24 FY25 H1FY26 H1 H2 47 28.5 (3.2) 0.8 (0.3) 13.0 8.7 FY21 FY22 FY23 FY24 FY25 H1FY26 US LFL SALES GROWTH (%)² 6Yr average LFL +7.9% UNI GROUP TRENDS 66 75 77 80 84 87 1 3 8 14 19 22 10 8 8 9 Jun21 Jun22 Jun23 Jun24 Jun25 Dec25 PHYSICAL STORES (#) US PS THRILLS 118 H1 FY26 RESULTS PRESENTATION 6 1. Total Group sales includes CTC revenue from 1 November 2022 net of intercompany eliminations 2. US LFL (like-for-like) sales exclude CTC and Perfect Stranger and are calculated daily, excluding closed stores from the day of closure and new stores until they have cycled the first three weeks of operation. FY21-FY22, LFL sales were calculated weekly using a 4/4/5 financial week. Stores that were closed during the COVID-19 pandemic are also excluded from LFL sales calculations 3. Underlying EBIT excludes one-off transaction costs related to IPO & MEP expenses (FY21), onerous lease (FY22), CTC acquisition costs (FY23), the impact of FV movement of DVC (FY23 - FY25) and CTC goodwill impairment (FY25) UNDERLYING EBIT (A$ MILLION)3 POST-AASB 16 6 67 78 95 102 111 For personal use only
Page 7
7 STRATEGY UPDATE THE GROUP’S CORE STRATEGY IS TO SCALE AND GROW OUR PREMIUM FASHION APPAREL BRANDS AND RETAIL FORMATS, DELIVERING A COMPELLING CUSTOMER EXPERIENCE WHILE CAPTURING THE YOUTH MARKET AND DRIVING SUSTAINABLE GROWTH • Customer-led range based on a nimble and fast to market mindset • Identify and curate premium on- trend products our customers love. Differentiate through market leading private brands and exclusive third-party products • Service orientated, solutions- based customer experience • Continued investment in team & system capability • Network potential of 100+ stores • New stores reflect a more elevated design • Growing brand awareness with targeted consume segments • Elevating & differentiating product range and in-store shopping experience • Supporting future growth with incremental brand dedicated capability & resources • National store roll-out of retail network of 60+ stores. • Retail strategy progressing with improvements in store execution, product curation and fast to market mindset and processes • THRILLS brand positioning and product design celebrates historic brand values while evolving with modern trends • Focus on stabilising wholesale channel through partnerships with enduring quality retail partners • Build a scalable retail format for national rollout Group Capabilities Update Customer led approach guided by data analytics and independent customer research guide our decisions and strategic priorities Leveraging internal & external stakeholder consultation to inform Sustainability priorities. US certified under the Organic Content & Global Recycled standards New point of sale (POS) implementation commencing Q4 FY26 (THRILLS store network implemented in FY25) Investing in Group technology capabilities and controls H1 FY26 RESULTS PRESENTATION For personal use only
Page 8
2 FINANCIAL RESULTS H1 FY26 RESULTS PRESENTATION 8 For personal use only
Page 9
Underlying Results ($m) H1 FY26 H1 FY25 % Change Sales 209.6 183.5 14.2% Gross Profit 130.2 111.2 17.1% GP % Sales 62.1% 60.6% +150bps CODB (65.8) (56.7) (16.0%) CODB % Sales (31.4%) (30.9%) (50 bps) Underlying EBITDA4 64.4 54.5 18.2% Depreciation (PP&E) (4.1) (3.3) (24.2%) Depreciation (ROU Assets) (16.7) (15.8) (5.7%) Underlying EBIT4 43.6 35.4 23.2% EBIT % Sales 20.8% 19.3% +150bps Interest (debt) 0.0 0.0 nil Interest (leases) (2.7) (2.0) (35.0%) Tax (12.6) (10.2) 23.5% Underlying NPAT4 28.3 23.2 22.0% NPAT % Sales 13.5% 12.6% +90bps UNI GROUP PROFIT & LOSS Sales US sales $174.8 million (+11.9% vs pcp), LFL +8.7%¹ PS sales $17.8 million (+41.5% vs pcp), LFL +14.8%¹ CTC sales $23.2 million2 (+4.8% vs pcp), DTC LFL +9.5%¹ Gross Profit GP% increased 150bps through strong third-party assortments and private brand performance from Neovision, Common Need and Perfect Stranger3. On-trend ranging supported disciplined price management Diligent inventory management resulted in a reduction in clearance sales mix on pcp CODB CODB% increased 50bps, driven by cost inflation, investment in team and system capability. This was partially offset by LFL sales growth cost fractionalisation Team and system investments made to support future growth and strategic projects EBIT • Underlying EBIT of $43.6 million, up $8.2 million vs pcp4 • Underlying EBIT margin 20.8%, up 150bps vs pcp • Underlying EPS of 36.8 cents vs 30.3 cents in pcp5 H1 FY26 RESULTS PRESENTATION 1. LFL (like-for-like) sales in are calculated daily (30 June 2025 to 28 December 2025), excluding closed stores from the day of closure and new stores until they have cycled the first three weeks of operation 2. CTC sales includes sales made to US which are eliminated on consolidation 3. Private brand performance excludes the CTC business with THRILLS / Worship brands treated as 3rd party 4. Comparative Underlying EBIT/EBITDA/NPAT excludes the impact of the FY25 DVC adjustment and CTC goodwill impairment charge 5. Underlying EPS is calculated using underlying NPAT and the weighted average number of ordinary shares outstanding during the period 76.7 million (2025: 76.5 million) 9 For personal use only
Page 10
UNI GROUP SALES PERFORMANCE TRENDS 118 107 135 133 156 175 0 1 4 7 13 18 6 18 15 17 H1FY21 H1FY22 H1FY23 H1FY24 H1FY25 H1FY26 US PS CTC Group Sales up +14.2% vs pcp with a 5-year CAGR of +12.2% (H1 FY21 to H1 FY26) Sales growth driven by: US 6-year average LFL growth of +7.9% Group store network increase to 118 stores compared to 67 stores as at 30 June 2021 PS retail format expansion CTC acquisition on 31 October 2022 US H1 FY26 LFL growth of +8.7% and PS LFL growth +14.8% supported by increased average transaction value CTC H1 FY26 sales, including sales to US, were +4.8% on pcp due to growth in DTC. DTC sales +25.5% on pcp with LFL growth of +9.5%. Wholesale sales down -2.4% on pcp driven by planned reduction of exports to the USA due to tariffs. Increase in third-party customer sales offsetting reduction in intercompany sales to US 1. Total Sales includes CTC, with ownership from 31 October 2022. CTC wholesale is net of eliminations of sales to US 2. CTC underlying sales exclude sales to US FY21 – H1 FY26 SALES1 (A$M) H1 FY26 RESULTS PRESENTATION 10 2 For personal use only
Page 11
H1 FY26 gross profit growth achieved across both US (+190bps) and CTC (+150bps) Growth in the PS and THRILLS retail formats provides a favourable gross profit mix to the Group Strong assortment ranging supports disciplined price management and full- price sell through The Group benefited from a lower clearance sales mix due to strong inventory management Slightly unfavourable H1 FY26 foreign currency impact vs pcp UNI GROUP GROSS PROFIT CONTINUED IMPROVEMENT IN GROSS PROFIT % (+150BPS on pcp) H1 FY26 RESULTS PRESENTATION 67.9 61.9 85.8 94.3 111.2 130.2 57.6% 57.2% 58.9% 59.7% 60.6% 62.1% 55.0% 57.5% 60.0% 62.5% $0 $20 $40 $60 $80 $100 $120 $140 H1 FY21 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 (%)($m) 1. US private brand contribution to total sales measure excludes CTC business, with THRILLS/Worship brands treated as 3rd party 11 For personal use only
Page 12
UNI GROUP COSTS OF DOING BUSINESS Wage inflation includes 4% retail award increases and annual salary increases The Group continues to invest in the roles required to deliver its strategy and support future business growth New stores and LFL sales growth contributed $4.7 million of additional CODB relating to wages, new rental agreements and other variable operating costs. LFL sales growth has fractionalised CODB % of sales by 160bps Higher H1 FY26 LTI & bonus expenses inline with stronger trading results Cash rental costs increased ~5% on pcp. The Group continues to be prudent with its long-term approach to rent management. There are currently three stores in holdover Store and warehouse productivity managed to optimise cost efficiency and customer service Other costs include costs relating to the new Group POS implementation commencing in Q4 FY26 H1 FY26 RESULTS PRESENTATION GROUP HEADLINE GROWTH 1 56.7 3.4 4.7 0.6 0.4 65.8 FY25 Wage inflation & team investment Sales Growth LTI Expense Other FY25 H1 FY26 CODB BRIDGE (A$M) 12 FY25 Wage inflation & team investment LFL sales growth & new stores LTI & bonus expense Other FY26 % of Sales 30.9% 1.6% (1.6%) 0.3% 0.2% 31.4% For personal use only
Page 13
UNI GROUP BALANCE SHEET Strong cash generation with $38.4 million cash balance and nil borrowings1 as at 31 December 2025 (net cash of $37.7 million1 in pcp) Trade and other receivables increased $3.4 million on FY25 due to seasonal timing of CTC wholesale Inventory of $33.5 million is higher than pcp ($28.5 million) due to increased store numbers and investment to support higher customer demand PPE increased $2.2 million vs FY25 reflecting investment in new stores and relocations Movement in right of use asset reflects depreciation for the period Trade and other payables increase on 30 June 2025 reflects seasonal timing of inventory purchases and supplier payments Other current liability increase driven by higher income tax payable associated with stronger earnings and higher deferred revenue due to seasonal timing H1 FY26 RESULTS PRESENTATION Statutory Balance Sheet ($m) Dec-25 Jun-25 Total Current assets 80.2 55.3 Cash 38.4 17.2 Trade and other receivables 8.3 4.9 Inventories 33.5 33.3 Total non-current assets 226.9 231.6 Property, plant and equipment 24.3 22.1 Right of use assets 75.8 82.5 Intangible assets 126.8 127.0 Total Assets 307.1 287.0 Total Current liabilities 79.1 68.6 Trade and other payables 35.1 27.8 DVC provision - 0.8 Lease liabilities 28.6 28.3 Other current liabilities 15.4 11.7 Total non-current liabilities 66.8 73.0 Lease liabilities 54.9 60.1 Other non-current liabilities 11.9 12.9 Total Liabilities 145.9 141.6 Net assets 161.2 145.4 Net Cash/ (Net Debt)1 38.4 17.2 1. Net Cash/(Net Debt) excludes lease liabilities 13 For personal use only
Page 14
UNI GROUP CASH FLOW Strong operating cash flow driven by EBITDA growth and working capital management Change in trade payables reflects planned timing of inventory purchases to support sales FY26 capex driven by eight new store openings ($3.3 million). Remaining capex spend relates to store relocations, store refurbishments and IT hardware Acquisition of subsidiary payment of $0.7 million represents the final DVC tranche relating to the CTC acquisition Bank borrowings fully repaid with loan facilities still in place to redraw if required Cash conversion of EBITDA remains strong at 112% H1 FY26 RESULTS PRESENTATION Operating Cash flow ($m) H1 FY26 H1 FY25 Change EBITDA 64.4 56.2 8.2 Non-cash items in EBITDA 0.9 (1.3) 2.2 Change in inventories (0.1) 1.4 (1.5) Change in trade payables 6.4 12.0 (5.6) Change in other working capital items 0.5 1.7 (1.2) Cash flow from operations¹ 72.1 70.0 2.1 Net capex (6.5) (5.1) (1.4) Interest (2.7) (2.1) (0.6) Tax cash paid (12.7) (7.9) (4.8) Operating cash flow, after capex 50.2 54.9 (4.7) Dividends paid (12.7) (14.6) 1.9 Acquisition of subsidiary including transaction cost (0.7) (2.6) 1.9 Lease payments & incentives (14.8) (15.0) 0.2 Payments for treasury shares acquired by the Group (0.8) - (0.8) MEP loan repayments received - 0.7 (0.7) Repayment of borrowings - (15.0) 15.0 Net cash generated 21.2 8.4 12.8 Net cash/(net debt)2 38.4 37.7 0.7 Cash flow Ratios Cash flow from Ops: EBITDA conversions % 112% 125% Capex : Depreciation % 159% 159% 1. Before interest, tax and capex 2. Net Cash/(Debt) excludes lease liabilities 14 For personal use only
Page 15
3 H1 FY26 BUSINESS UPDATES H1 FY26 RESULTS PRESENTATION 15 For personal use only
Page 16
UNIVERSAL STORE UPDATE H1 FY26 RESULTS PRESENTATION Financial Results • H1 FY26 sales of $174.8 million up +11.9% on pcp. LFL sales growth +8.7% • GP% up 190bps vs pcp driven by strong private brand and third-party assortments, category mix and disciplined price management • US private brand penetration increased to 55% of sales 1 in H1 FY26 (52% in H1 FY25). This increase was driven by a strong activation of the Common Need brand • Neovision continues to resonate with customers, maintaining a 19% contribution to US format sales mix (18% in H1 FY25). Neovision, Perfect Stranger and Common Need remain the top three brands within US • Underlying US EBIT (incl PS EBIT contribution) was $41.3 million, up $7.9 million (+23.7%) vs pcp 1 Store Network Four new stores opened and as planned one store closed in H1 FY26. Physical store network of 87 One new store confirmed for Q4 FY26 with further opportunities being explored Two relocations and two to three refurbishments planned for H2 FY26 / H1 FY27 107 135 133 156 175 98 100 111 125 FY22 FY23 FY24 FY25 H1FY26 US REVENUE1 ($m) H1 H2 235 244 205 281 $22.5m Online Sales +6.3% vs pcp $152.3m B&M Sales 87 Stores at 31 December 2025 1. US revenue excludes the contribution of PS retail format and online sales. However, US and PS operate as a combined business unit, with shared resources and infrastructure. As a result, an allocated EBIT between US and PS is not reported 16 For personal use only
Page 17
PERFECT STRANGER UPDATE H1 FY26 RESULTS PRESENTATION 1 4 7 13 18 2 5 7 13 FY22 FY23 FY24 FY25 H1FY26 PS REVENUE ($m) H1 H2 3 9 14 26 $2.6m Online Sales +65.9% vs pcp Financial Results H1 FY26 sales of $17.8 million up +41.5% on pcp with LFL growth of +14.8% driven by higher average unit price associated with elevated range Focus remains on building brand awareness, range elevation and store network expansion Increase in dedicated resources to support PS brand, marketing and product capabilities PS currently operates within the US operating structure (i.e. DC, IT and support office functions). As a result, a meaningful view of PS EBIT contribution, as a business unit, cannot be provided Store Rollout Three new stores opened and one store relocation in H1 FY26. Store network of 22 excluding the webstore Four stores confirmed to open in Q4 FY26 with further opportunities being explored $15.3m B&M Sales 22 Stores at 31 December 2025 17 For personal use only
Page 18
CTC UPDATE H1 FY26 RESULTS PRESENTATION 18 1. Unaudited proforma sales excluding intercompany eliminations (refer Appendix 5) 2. Underlying proforma EBIT is pre AASB16 and excludes one-off transaction costs related to CTC acquisition (H1 FY23) CTC REVENUE¹ ($ MILLION) 18 24 25 22 23 17 18 19 18 35 42 44 40 FY22 FY23 FY24 FY25 H1FY26 H1 H2 Strategy Update Retail strategy progressing with improvements in store execution, product curation and speed to market mindset Brand positioning and product design celebrates historic brand values while evolving with modern trends Financial Results DTC H1 FY26 sales of $7.2 million up +25.5% on pcp. LFL sales growth of +9.5%. H1 FY26 GP% of 46.8% growth of +150bps1 on pcp. Increase driven by higher retail sales mix and improved price management Wholesale channel sales down -2.4% driven by the planned reduction in USA exports due to increased tariffs. Increase in third-party customer sales offsetting reduction in intercompany sales to US CTC sales to US decreased to $6.2 million ($7.4 million in pcp). The THRILLS and Worship brands represented ~9% of US format sales in H1 FY26 (~12% in pcp) Underlying EBIT 2 was $2.3 million up +25.2% on pcp due to improved GP% and cost efficiencies Store Network One new store opened in H1 FY26. Physical store network of nine stores at 31 December 2025. Management assessing additional new store opportunities Continuing to refine product range, retail execution and store design to support future store rollout $7.2m Retail & Online Sales (+25.5% vs pcp) Retail store LFL growth +18.3% $16.0m Wholesale Sales -2.4% vs pcp For personal use only
Page 19
4 TRADING UPDATE H1 FY26 RESULTS PRESENTATION 19 For personal use only
Page 20
FY26 YTD TRADING UPDATE H1 FY26 RESULTS PRESENTATION 20 Sales performance – first seven weeks of H2 FY261 • Group FY26 to date¹ direct to customer (“DTC”) sales are up +13.5% on pcp as broken down in the table below • Management expects continued volatility in the CTC wholesale channel in H2 FY263 Total Sales Growth LFL Sales Growth2 US +11.4% +7.1% cycling +22.5%2 PS +39.0% +4.9% cycling +38.8%2 CTC (DTC) +14.6% -10.2% cycling +37.8% 2 LFL growth by DTC channel Retail stores +18.0% Online -31.7% due to reduced promotional and clearance activity Store network: • The Group is on track to achieve previous market guidance of 11 to 17 new stores in FY26 • Five stores confirmed to open in Q4 FY26 – four PS and one US with further opportunities being explored • The Group continues to be prudent in ensuring long-term profitability of new stores and lease renewals Gross Profit: • The Group continues to have a customer led approach to product mix between private and third-party brands • Management notes the increase in interest rates and the strengthening AUD/USD exchange rate. The Group is maintaining a disciplined approach to hedging foreign currency risk and product pricing Cost of Doing Business: • The Group continues to invest in team capability and depth to support future growth and succession planning • New POS implementation for US and PS commencing Q4 FY26 • Management remains focused on balancing wage optimisation with customer service 1. Weeks 1 to 7 sales are measured from 29 December 2025 to 15 February 2026 2. LFL (like-for-like) sales are calculated daily (29 December 2025 to 15 February 2026) excluding closed stores from the day of cl osure and new stores until they have cycled the first three weeks of operation. CTC's LFL sales represent direct to customer ("DTC") sales and exclude the wholesale channel 3. The CTC wholesale channel represents less than 5% of Group sales, net of intercompany eliminations For personal use only
Page 21
5 H1 FY26 RESULTS PRESENTATION APPENDICES 21 For personal use only
Page 22
APPENDIX 1: GROUP OVERVIEW H1 FY26 RESULTS PRESENTATION Expanding standalone retail concept www.perfectstranger.com.au On trend women’s fashion focused Aspirational fashion made accessible 22 stores as at 31 December 2025* Brisbane based (co-located and co-managed with Universal Store) Australia’s largest specialty retailer of premium casual youth fashion www.universalstore.com.au ~63% of sales derived from private brands and ‘sister businesses’ (i.e. THRILLS, Worship) On trend men’s and women’s casual fashion Over 70 brands ranged in store 87 stores as at 31 December 2025* Brisbane based (co-located and co-managed with Perfect Stranger) Men’s and women’s casual fashion under the THRILLS and Worship brands. Provides a wide range of quality, sustainably focused products with a passion for a coastal lifestyle, music, art and a vintage aesthetic. www.THRILLS.co www.worship-supplies.com Emerging standalone retail concept Nine stores as at 31 December 2025* Byron Bay based support office and leadership team Universal Store Holdings Limited ASX: UNI *Physical stores only Australia’s premier owner and operator of youth and young adult fashion retail brands A grower of businesses, with excellence in culture, retail execution and brand management Customer focused, detail oriented, nimble, multi-channel operations Focused on results, risk management, and fostering outstanding talent Perfect Stranger currently operates on a substantially integrated basis with Universal Store, with significant amounts of shared resources, IP, IT and infrastructure 22 For personal use only
Page 23
APPENDIX 2: STORE FOOTPRINT H1 FY26 RESULTS PRESENTATION TOTAL GROUP STORES* 118 #87 Universal Store stores #9 THRILLS stores #22 Perfect Stranger stores QLD NT NSW ACT SA WA VIC 13 1 5 26 2 19 1 5 10 20 4 6 TAS * Plus web store for each brand. 2 23 4 For personal use only
Page 24
APPENDIX 3: P&L UNDERLYING TO STATUTORY RECONCILIATION 1. FY25 fair value movement in deferred variable consideration (DVC) relates to the final CTC acquisition payment H1 FY26 RESULTS PRESENTATION $million Note H1 FY26 H1 FY25 Statutory EBITDA 64.4 56.2 FV of deferred variable consideration (DVC) 1 - (1.7) Underlying EBITDA 64.4 54.5 Statutory EBIT 43.6 23.5 Impairment of CTC goodwill - 13.6 FV of deferred variable consideration (DVC) 1 - (1.7) Underlying EBIT 43.6 35.4 Statutory NPAT 28.3 11.3 Impairment of CTC goodwill - 13.6 FV of deferred variable consideration (DVC) 1 - (1.7) Underlying NPAT 28.3 23.2 24 For personal use only
Page 25
APPENDIX 4: H1 FY26 CONSOLIDATION OVERVIEW ($M) H1 FY26 RESULTS PRESENTATION Underlying Results ($m) US & PS CTC Elimination1 UNI Group Sales 192.6 23.2 (6.2) 209.6 Gross Profit 119.3 10.9 (0.0) 130.2 % Sales 61.9% 47.0% 1.8% 62.1% CODB (58.3) (7.5) 0.0 (65.8) % Sales 30.2% 32.3% 0.0 31.4% Underlying EBITDA 61.0 3.4 0.0 64.4 Depreciation (PP&E) (3.9) (0.2) 0.0 (4.1) Depreciation (ROU Assets) (15.8) (0.9) 0.0 (16.7) Underlying EBIT¹ 41.3 2.3 0.0 43.6 % Sales 21.5% 10.0% 0.0% 20.8% Interest (debt) 0.0 0.0 0.0 0.0 Interest (leases) (2.6) (0.1) 0.0 (2.7) Tax (12.0) (0.6) (0.0) (12.6) Underlying NPAT 26.7 1.6 0.0 28.3 % Sales 13.9% 6.7% 0.0% 13.5% 1. Elimination of CTC sales to US 25 For personal use only
Page 26
APPENDIX 5: GROUP SALES OVERVIEW H1 FY26 RESULTS PRESENTATION 1. Proforma assumes CTC was owned for the full 12 months in the relevant period (FY20 to FY23). The CTC acquisition was completed on 31 October 2022 2. Intercompany sales elimination represents sales between US and CTC during the period 26 For personal use only
Page 27
DISCLAIMER The material contained in this presentation has been prepared by Universal Store Holdings Limited ABN 94 628 836 484 (Universal Store) and is general background information about the businesses, operations and activities of Universal Store and its subsidiaries, current as at the date of this presentation. The information is provided in summary form only and does not purport to be complete or comprehensive. The information in this presentation should not be considered as advice or a recommendation for investment purposes, as it does not take into account your particular investment objectives, financial position or needs. These factors should be considered, with or without independent professional advice, when deciding if an investment is appropriate. This presentation may contain forward-looking statements with respect to the operations and businesses of the Universal Store. The assumptions underlying these forward-looking statements involve circumstances and events that have not yet taken place and which are subject to uncertainty and contingencies outside Universal Store’s control. Readers are cautioned not to place undue reliance on any forward- looking statements. Universal Store does not undertake any obligation to publicly release the result of any revisions to forward-looking statements in this presentation or to otherwise update forward-looking statements, whether as a result of new information, future events, or otherwise, after the date of this presentation. Past performance is not a reliable indication of future performance. To the extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) from anyone acting or refraining from acting as a result of the material contained in this presentation is accepted by Universal Store. H1 FY26 RESULTS PRESENTATION 27 For personal use only
Page 28
UNIVERSAL SPIRIT The unique ability to create memorable and positive experiences for all. Creating an experience that is fun, open and based on kindness. The environment that enables a person to be their best. Authorised for release by the Board of Directors of Universal Store Holdings Limited. For more information, please contact: Alice Barbery Sam Wells Group Chief Executive Officer Investor & Media Relations +61 7 3368 6503 sam@nwrcommunications.com.au +61 427 630 152 Registered Office 42A William Farrior Place Eagle Farm QLD 4009 Australia Phone: 1300 553 520 For personal use only