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Built for Good Cairn Homes plc 2026 Interim Results Presentation
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Contents Cairn Homes plc | 2026 Interim Results Presentation 2 Michael Stanley Chief Executive Officer Richard Ball Chief Financial Officer Ailbhe Molloy Head of Investor Relations 01. H1 2026 Highlights 02. Financial Highlights 03. Outlook 04. Appendices Whitehaven, Dublin
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Built for Good 01 H1 2026 Highlights Cairn Homes plc | 2026 Interim Results Presentation Pipers Square, Dublin
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H1 2026 Trading Highlights Cairn Homes plc | 2026 Interim Results Presentation 4 Financial Highlights AppendicesH1 2026 Highlights Outlook Cairn delivered a strong financial performance in H1 2026, demonstrating the earnings benefits of its scaled operating platform €455.5m +60% y-o-y Revenue 1,139 +61% y-o-y Units 5,020 +928 units y-o-y €1.89bn +€350m y-o-y Order book (units) (1) Order book (value) (1) €393k 3.7 Net ASP +1.6% y-o-y Weekly sales rate H1 2025: 4.1 16.4% Operating margin +140 bps y-o-y 9.3c EPS +82% y-o-y Note (1): As at 1 September 2026
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H1 2026 Highlights Cairn Homes plc | 2026 Interim Results Presentation 5 4.5 cent +10% y-o-y €69.1m H1 2025: €188.6m Net WIP Investment €194.5m 30 June 2025: €307.4m Net debt +€141m (y-o-y) H1 2026: €22.4m H1 2025: -€118.6m €860.3m 30 June 2025: €763.6m Operating Cash Flow Increase Net Assets Financial Highlights AppendicesH1 2026 Highlights Outlook UPGRADED GUIDANCE Revenue: c.€1.08bn Operating Profit: c.€185m ROE: c.17.0% SHAREHOLDER RETURNS 4.5 cent +10% y-o-y Interim DPS €50m New Share Buyback Programme
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Sales Pricing and Product Mix Cairn Homes plc | 2026 Interim Results Presentation Maintaining affordability across all home types 28% 9%63% H1 26 PERIOD ASPs €’K (NET OF VAT) Houses Duplex Apartments H1 2026 434 337 383 H1 2025 415 384 384 H1 2024 417 339 380 2 Year Movement +4.1% (0.6%) +0.8% Houses Duplex Apartments 27% 13% 60% H1 25 21% 13% 66% H1 24 6 Sales Mix Evolution: Growing our Low-Density Housing Platform FY26 Selling Sites 30 19 H1 26 Selling Sites 2026 Demand H2 26 Planned New Private Launches 5 8 H1 26 New Private Launches Financial Highlights AppendicesH1 2026 Highlights Outlook
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Cairn’s Realisable Market Cairn Homes plc | 2026 Interim Results Presentation 7 Financial Highlights AppendicesH1 2026 Highlights Outlook Our leading delivery of large mixed tenure developments in transit-oriented locations broadens our market and provides greater choice for our customers Mixed Tenure • First Time Buyers • Trade Up / Trade Down • Croí Cónaithe Private Apartments • Affordable Purchase • Affordable Cost Rental • Social Areas of high demand in close proximity to employment centres and multi-modal transport links, including: • Rail • DART • Luas • Bus Connects Note (1): July 2026 survey of Croí Cónaithe private customers Leading Croí Cónaithe across Ireland Snapshot of our Croí Cónaithe customers (1) c.70% are in private rental c.45% work in Dublin city centre c.65% will take public transport to work Our Five-Year First Time Buyer Focused Targets With Help to Buy and the First Home Scheme committed to supporting FTBs c.55% of our new build homes will qualify for the First Home Scheme c.60% of our new build homes will qualify for Help to Buy Seven Mills, Dublin
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Domestic Economic Performance is Driving Housing Demand Cairn Homes plc | 2026 Interim Results Presentation 8 Sources: CSO, Central Bank of Ireland, Eurostat. Improving household finances are boosting purchasing power Rapid population growth, despite ageing and falling household size Strong public finances and tax receipts Rapid revenue growth across multiple tax heads enables the Government to continue to support the sustainable development of mixed tenure, mixed density housing . €46,403 €49,906 €52,144 €55,149 €58,922 €61,666 2020 2021 2022 2023 2024 2025 Median Nominal Household Disposable Income 47,401 49,848 51,733 53,451 58,215 62,971 65,866 69,515 75,340 80,633 76,951 93,199 108,859 115,068 125,799 136,235 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Taxes and Social Contributions (€m) Population of Ireland (000s) 4,740 4,811 4,885 4,959 5,030 5,075 5,184 5,282 5,380 5,459 5,526 5,794 6,168 Principal dwelling mortgage transactions (€m) +786k +16.6% 0 500 1,000 1,500 2,000 Financial Highlights AppendicesH1 2026 Highlights Outlook
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A Supportive Policy Environment is Unlocking Supply Cairn Homes plc | 2026 Interim Results Presentation 9 Sources: Pleanala.ie, Cairn analysis of planning applications, Gov.ie. Targeted infrastructure investment is on track to unlock land for 200,000 new homes HIIF Approved Projects Planning bottlenecks are easing Ratio of apartments granted to apartments refused Apartment funding and regulatory changes are addressing viability challenges Cumulative activated apartment permissions, Dublin 2.2 6.1 0 1 2 3 4 5 6 7 2020 2021 2022 2023 2024 2025 Year of planning application 8,998 25,525 0 5,000 10,000 15,000 20,000 25,000 30,000 2019 2020 2021 2022 2023 2024 2025 Recent reforms across the areas of planning, funding and infrastructure are bearing fruit Financial Highlights AppendicesH1 2026 Highlights Outlook Year of commencement
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Sustainability Highlights Cairn Homes plc | 2026 Interim Results Presentation 10 People c.5,500 people employed across Cairn active sites to deliver homes for our customers 25th supply chain partner welcomed to the Cairn Apprenticeship Programme c.350 apprentices now active or qualified 29% / 71% female to male gender diversity (industry average 11% / 89%) 75% of senior hires YTD-26 are female 36% of all Cairn hires YTD-26 are female Communities & Nature Placemaking c.600 hectares of public realm, parks, pitches and green space delivered to date Home Together 93% of participating residents reported that their neighbourhood feels more friendly, with 73% feeling safer in their estate Cairn Community Games Over 173,000 young people participating across 430 towns nationwide Biodiversity Net Gain (BNG) Portfolio Measurement Now moving from measuring BNG on individual sites to measuring across our entire portfolio (a systemwide approach) BNG and Passive House Our nine Passive House developments will all achieve BNG, delivering sustainable new developments Financial Highlights AppendicesH1 2026 Highlights Outlook
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Innovation Highlights Cairn Homes plc | 2026 Interim Results Presentation 11 The Cairn Innovation Hub Our next step in driving innovation to improve affordabilityDriven by our customers and markets and how they will evolve Designing with communities in mind from the outset Continued optimisation of our home designs and leveraging our scaled platform for efficient delivery Close collaboration and partnership with our design & supply chain, with an increasing focus on Off Site Manufacturing Using our scaled procurement to source lower cost materials across Europe Leveraging technology, digital design and AI to advance digital construction Financial Highlights AppendicesH1 2026 Highlights Outlook Significant grant funding from Enterprise Ireland through the Government’s Built to Innovate Fund
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Reducing Capital Intensity While Driving Growth and ROE Cairn Homes plc | 2026 Interim Results Presentation 12 Financial Highlights AppendicesH1 2026 Highlights Outlook Evolving landbank, flexible deployment and faster WIP turn are funding growth and shareholder returns c.18,000 wholly owned units across 38 sites c.2,750 units under option c.6,500 capital light strategic pipeline Multiple customer segments Land sourcing at scale Deploy with optionality Recycle & replace 02 0301 Options • Partnerships • JVs Scaled sites, typically 500+ units Choose the route that protects margin, serves demand and earns the best return Land replacement remains accretive as the platform scales Returns-accretive growth c.17.0% ROE guidance FY26 Flexible allocation Fund growth, invest and return capital concurrently Areas of established demand Brand strength Multi year orderbook visibility Platform offers unique underwriting capabilities Evolving deal structures enable more efficient capital deployment Partner of choice expands access to land opportunities Efficient WIP turn Hampden Ridge, Co. Dublin
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Built for Good 02 Financial Highlights Cairn Homes plc | 2026 Interim Results Presentation Torcaill Wood, Blessington, Wicklow
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H1 2026 Trading Performance Cairn Homes plc | 2026 Interim Results Presentation 30 JUN 2026 (€m) 30 JUN 2025 (€m) MOVEMENT Revenue 455.5 284.5 +60% Closings 1,139 708 +61% Cost of sales (358.6) (221.3) +62% Gross profit 96.9 63.1 +54% Gross margin % 21.3% 22.2% (90bps) Opex (22.0) (20.5) +7% Operating profit 74.8 42.7 +75% Operating margin % 16.4% 15.0% +140bps Finance costs & other income (7.6) (5.7) +33% PBT 67.3 37.0 +82% PAT 58.4 31.7 +84% EPS 9.3 cent 5.1 cent +82% Net assets 860.3 763.6 +13% NAV per share 1.37 1.22 +15 cent Interim DPS 4.5 cent 4.1 cent +0.4 cent Growth • Revenue and volumes grew by 60% Profitability • Operating profit +75% ahead of revenue • Operating margin of 16.4% +140bps • EPS +82% 9.3c Value Creation • Net assets €860m +13% • NAV per share reached 137c +15c • Well positioned to deliver c.€110m EBIT in H2 2026 14 AppendicesOutlookFinancial Highlights H1 2026 Highlights
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Revenue and Sales Performance KPIs Cairn Homes plc | 2026 Interim Results Presentation CLOSED AND FORWARD SALES PIPELINE (as at 1 September 2026) UNITS REVENUE (NET) 2026 – H1 closed sales 1,139 €448m H2 2026, 2027 & 2028 – forward sales 3,881 €1,439m Total closed and forward sales pipeline 5,020 €1,887m WIP INVESTMENT UNDERPINNED BY FORWARD SALES SEPT 26 SEPT 25 Forward sales – homes 3,881 3,384 Forward sales – value €1,439m €1,265m Closing WIP (at half-year) €483m €435m Forward sales coverage of WIP 3.0x 2.9x 15 Closed and Forward Order Book • 5,020 units; €1.89bn revenue Forward Sales Visibility • 3,881 units; €1.44bn revenue WIP Coverage • 3.0x forward sales coverage Growth Platform • Strong visibility into FY27 and FY28 AppendicesOutlookFinancial Highlights H1 2026 Highlights
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Balance Sheet as at 30 June 2026 Cairn Homes plc | 2026 Interim Results Presentation 16 30 - JUN - 26 (€m) 31 - DEC - 25 (€m) CHANGE Land held for development 693.3 701.3 (€8.0m) Construction work in progress 482.9 413.8 +€69.1m Trade receivables 26.5 21.8 +€4.7m Other receivables 71.5 90.0 (€18.5m) Non-current receivables 1.3 1.3 - Other assets and liabilities (220.7) (220.2) (€0.5m) Net assets (excluding net debt) 1,054.8 1,008.0 +€46.8m Cash and cash equivalents 49.1 55.1 (€6.0m) Loans and borrowings (243.6) (226.4) (€17.2m) Net debt (194.5) (171.3) (€23.2m) Net assets 860.3 836.7 +€23.6m Balance sheet KPIs Shareholder distributions 36.8 54.7 (€17.9m) Debt to GAV 18.6% 17.8% +80bps Capital position • €1.18bn invested in land and WIP supporting future delivery and multi-year growth Funding & Liquidity • €500m committed facilities – no debt maturities until June 2029 Balance Sheet Strength • Conservative leverage (Debt : GAV 18.6%) supported by long-dated funding and continued growth in net assets AppendicesOutlookFinancial Highlights H1 2026 Highlights
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Recent Investment in Scaling – Delivering Strong H1 Cash Generation Cairn Homes plc | 2026 Interim Results Presentation 17 JUN - 26 (€m) JUN - 25 (€m) MOVEMENT EBITDA 78.6 46.7 Decrease in land held for development 8.1 15.7 Increase in construction work in progress (69.1) (188.6) Other working capital movements 4.8 7.6 Operating cashflow generated from/(used in) 22.4 (118.6) €141.0m Shareholder returns Dividend paid (36.8) (27.5) Share buyback - (1.9) Total shareholder returns (36.8) (29.4) (€7.4m) Net Debt (194.5) (307.4) €112.9m Cash Generation • €22m operating cash inflow +€141m vs H1 25 Investment for Growth • Net investment in construction WIP of €69m to support future delivery volumes Shareholder Returns • €37m returned to shareholders via dividends Net Debt • Net debt reduced to €195m AppendicesOutlookFinancial Highlights H1 2026 Highlights
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Cairn Homes plc | 2026 Interim Results Presentation Capital Allocation Strategy Delivering Long-Term Value STRONG BALANCE SHEET | RECYCLE CAPITAL EFFICIENTLY | ENHANCE SHAREHOLDER RETURNS 18 AppendicesOutlookFinancial Highlights H1 2026 Highlights Capital invested during the year Driving ROE Strategic land pipeline supports improving capital recycling Balance sheet Maintain low leverage Return on equity growth Shareholder returns Distribute surplus capital through a combination of our progressive dividend policy and share buyback programmes c.€570m returned and committed to date, including today’s new €50m share buyback €837m FY25 net assets 17.8% FY25 Debt / GAV c.20% Target ongoing YE Debt / GAV 90%+ of new WIP spend recovered within 12 months 3–4 yrs net land investment recovery target 5.7% 10.6% 11.3% 15.1% 16.6% 17.0% FY 21 FY 22 FY23 FY 24 FY 25 FY26FY 26 (f) c.3x growth
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Built for Good 03 Outlook Cairn Homes plc | 2026 Interim Results Presentation Coolevally, Shankill, Co. Dublin
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Guidance Cairn Homes plc | 2026 Interim Results Presentation 20 AppendicesOutlookFinancial Highlights H1 2026 Highlights Revenue: c.€1.08bn (previously c.€1.05bn - €1.08bn) Operating Profit: c.€185m (previously c.€180m - €185m) ROE: c.17.0% (previously c.16.5%) Whitehaven, Santry
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Built for Good 04 Appendices Cairn Homes plc | 2026 Interim Results Presentation Whitehaven, Dublin
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Commitments to Outcomes Cairn Homes plc | 2026 Interim Results Presentation 22 Carin is leading the delivery of lower energy homes at scale across Ireland AppendicesOutlookFinancial Highlights H1 2026 Highlights 2026 Carbon Priorities Identifying the decisions and continuous learning that can make the greatest difference across our carbon footprint – including how our homes perform and how we build them What this will deliver Comfortable, energy-efficient homes with lower lifetime running costs Improved performance against our SBTi decarbonisation targets and related Scope 3 intensity reduction Identification of opportunities to further reduce carbon Cairn’s 2030 Carbon Targets(a) 46.2% Scope 1 & 2 71.6% FY25 reduction 61% Scope 3 17.5% FY25 reduction Note: (a) from a 2019 baseline for both targets. Delivering Passive House At Scale 3,250+ passive house standard homes delivered and under construction across nine developments 400+ passive standard homes to commence in H2 26, including our first low-density houses 600 apartments certified to the International Passivhaus standard in H1 26 32% decrease in energy demand for a completed passive scheme (Design v. Performance Study) c.€50,000 energy cost saving through a Lifecycle Analysis on individual apartments (compared to nZEB)
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Macroeconomic Backdrop Ireland’s economic growth is forecast to continue Cairn Homes plc | 2026 Interim Results Presentation Demographics support housing demand Near-record levels of net migration have helped push Ireland’s population to 5.53 million people, up c. 67,000 (+1.2%) in the year to April 2026. Ireland’s population is projected to grow by 1.3% per annum to 2030, the fastest rate in Europe. Current underlying household size is estimated at 2.4, and is expected to fall further by 2050. This means that the future need for housing is forecast to remain elevated. Economic growth In June 2026, the ESRI said that economic growth in Ireland, as measured by MDD, will remain positive at 2.6% in 2026 and 2.8% in 2027. Support for housing in the National Development Plan The 2026-30 capital budget for the Department of Housing is €36bn, more than double that compared to the previous five years (€17.6bn), demonstrating renewed commitment to deliver the infrastructure and funding to build more homes. Strong public finances Ireland recorded an €11.2bn General Government Surplus in 2025. The Irish Fiscal Advisory Council predicts Ireland will achieve a surplus of €9bn in 2026 and €8.4bn in 2027, despite high levels of public investment in housing. Sustained high levels of employment In Q2 2026, over 2.8 million people were in employment in Ireland. The unemployment rate was 5.1%, a small year-on-year increase, and the economy remains close to full employment. Consumer price inflation peaked at 3.7% in April and eased back to 3.4% in June and July. Supportive mortgage market The FTB mortgage market saw €4.1bn in lending drawn down in H1 2026, up 10% year-on-year. Goodbody forecasts mortgage credit will grow by 7% in 2026 and 9% 2027. The weighted average interest rate on new Irish mortgage agreements was 3.49% in June 2026, down 11 basis points year-on-year and 2 basis points below the Euro Area average. Strong general government surpluses forecasted 0% 1% 2% 3% Ireland* United States Netherlands United Kingdom Norway Canada Japan New Zealand France Italy Germany 2026 2027 Economic growthGeneral Government Surplus, €bn Sources: IMF, European Commission, Dept of Finance, CSO, CBI, BPFI, DHLGH. *Ireland’s growth forecast uses Modified Domestic Demand (MDD), which excludes distortions due to FDI activity. 2026 2027 2028 €9bn €8.4bn €6bn 23 Growing household savings Household deposits stood at €174.9bn, up 3% since end 2025. Total household savings are 50% higher than at the start of 2020. €23.4bn projected surplus after €22bn Housing capital spend 2026-28 AppendicesOutlookFinancial Highlights H1 2026 Highlights
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Growing Population & Strong Household Finances Ireland’s projected population growth fastest in the EU Cairn Homes plc | 2026 Interim Results Presentation Annualised population growth from 2026 Population (000s) Sources: Eurostat, CBI, CSO. 2.8 million people employed in Q2 2026 Strong household finances and a debt to deposit ratio of 71% 0% 50% 100% 150% 200% - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 2006 2007 2008 2009 2010 2011 2011 2012 2013 2014 2015 2016 2016 2017 2018 2019 2020 2021 2021 2022 2023 2024 2025 Debt/deposit ratio % HH deposits, € bn Debt/deposit ratio Persons in employment (000s) Household deposits, €bn -1.0% -0.5% 0.0% 0.5% 1.0% 1.5% Ireland Spain Switzerland Portugal Norway Denmark Netherlands Belgium Sweden France Finland Austria Italy Germany Croatia Greece Poland Hungary Bulgaria 2030 2040 Ireland’s population grew by 67,000 to April 2026 – 16.6% growth since 2016 4,740 4,811 4,885 4,959 5,030 5,075 5,184 5,282 5,380 5,459 5,526 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 24 AppendicesOutlookFinancial Highlights H1 2026 Highlights 2,260 2,382 2,515 2,551 2,559 2,601 2,603 2,617 2,653 2,683 2,696 2,706 2,704 2,754 2,795 2,776 2,794 2,818 2,825 2,833 2,795 2,839 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 2025 2026
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Impactful Government Initiatives Supporting FTB Demand 25 Sources: BPFI, revenue.ie, as stated. - 2,000 4,000 6,000 8,000 10,000 12,000 - 500 1,000 1,500 2,000 2,500 3,000 3,500 Dec-21 Feb-22 Apr-22 Jun-22 Aug-22 Oct-22 Dec-22 Feb-23 Apr-23 Jun-23 Aug-23 Oct-23 Dec-23 Feb-24 Apr-24 Jun-24 Aug-24 Oct-24 Dec-24 Feb-25 Apr-25 Jun-25 Aug-25 Oct-25 Dec-25 Feb-26 Apr-26 Jun-26 Rolling value of FTB approvals (€m) Number of FTB approvals Number of FTB approvals Value of FTB approvals (€m) 30% 40% 50% 60% 70% 80% 90% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 4.6 4.0 3.8 3.6 4.1 3.8 3.7 4.0 3.9 3.3 3.8 3.6 3.1 3.9 3.6 3.2 3.9 3.7 AIB BOI PTSB AIB BOI PTSB AIB BOI PTSB Jan-25 Jan-26 Jul-26 Standard Green FTB mortgage approvals steadily increase Sustained growth in HTB claims in H1 2026 Number of HTB claims Green mortgage discounts remain competitive compared to standard rates (3-yr fixed rate) Interest % FTBs represent 86.1% of mortgage drawdowns for new home purchases in Q2 2026 0 2000 4000 6000 8000 10000 12000 2018 2019 2020 2021 2022 2023 2024 2025 2026 H1 H2 4,971 7,605 6,890 6,997 8,541 9,575 5,090 6,593 6,106 +11% On H2 2025 (4,599) Cairn Homes plc | 2026 Interim Results Presentation AppendicesOutlookFinancial Highlights H1 2026 Highlights
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Insights into State Supports for FTBs 26 Sources: Revenue, First Home Scheme, Housing Agency. First Home Scheme (FHS) FTBs can claim an equity loan worth up to 30% of the property value (20% if also availing of HTB). Price ceilings vary by local authority (€375k - €500k). Funded on a 50:50 basis by the State and pillar banks with €740m equity. 1,835 buyers drew down €141m in equity loans in 2025. By the end of June 2026, 5,883 homes had been purchased or built with the scheme. Help to Buy (HTB) HTB allows FTBs to claim up to €30k (through an income tax rebate) toward purchasing a new home up to €500k value. FTBs have claimed €1.55bn using the scheme, of which €252.9m was in 2025. c.86% of FTBs purchasing a new home since 2022 used HTB. Number of transactions, Q1 2022-Q2 2026 FHS newbuild drawdowns Number of Croí Cónaithe units approved for funding 425 215 976 1046 1st call 2nd call 3rd call 4th call Croí Cónaithe (Cities) €450m allocation to bridge the viability gap and deliver 5,000 private apartments, up to a maximum of €144,000 per apartment. As of June 2026, funding has been approved for over 2,600 apartments across four calls. An expression of interest process for a fifth call closed at the end of August. Cairn Homes plc | 2026 Interim Results Presentation 37,093 43,198 HTB claims FTB new home mortgage drawdowns 120 199 243 556 262 396 501 638 271 368 427 769 442 554 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2024 2025 2026 +56% H1 26 vs H1 25 AppendicesOutlookFinancial Highlights H1 2026 Highlights
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Buying (with State Supports) vs Renting Cairn Homes plc | 2026 Interim Results Presentation 27 Worked example: 2 bed apartment in Seven Mills, Dublin 22 for FTB household with gross income of €67,500 2026 First Home Shared Equity and Help- to - Buy Cairn two-bed apartment (Exchange Square, Seven Mills, D22) €375,000 Help-to-Buy (lower of €30k or 10%) €30,000 Deposit from own funds €7,500 Finance required €337,500 Mortgage (4x income) €270,000 First Home Shared Equity to fill financing gap €67,500 (18%) Monthly mortgage repayment €1,168 % of net monthly take home pay 25.9% With Government supports for homeownership and the availability of Green mortgages, buying remains a financially attractive option for those who can secure a mortgage. The cost of repaying a mortgage on a Cairn 2-bed apartment at Exchange Square, Seven Mills, D22 could be less than half the cost of renting a similar unit on the private market. Sources: DAFT Irish Rental Report Q2 2026. Net pay calculated on the PWC 2026 Income Tax calculator, assuming no children and 5% pension contribution. €2,634 Average monthly rent for 2-bedroom apartment in Dublin in Q2 2026 Calculation assumes 30-year AIB 3 year fixed green mortgage (3.2%). First Home Shared Equity Scheme reduces household income requirement from €84,375 (€337,500/4) to €67,500 AppendicesOutlookFinancial Highlights H1 2026 Highlights
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Supply is Increasing But Remains Below Structural Demand 28 H1 2026 commencements increasing off low 2025 base New dwelling commencements by half-year H1 2026 completions show continued progress – annual housing need is 50,000 New home completions by half year Consensus new home completion forecasts for 2026 and 2027: 40,000 forecast for 2026 New dwelling completion forecasts Social and affordable housing delivery is accelerating Social and affordable dwelling completions and average annual targets 2021-23 average 2024 2025 2026 H1 H2 30,161 69,311 16,412 15,946 6,067 5,064 5,202 7,428 8,094 7,833 9,090 1,757 4,009 7,117 9,308 Affordable target: 15,000 Social target: 12,000 2019 2020 2021 2022 2023 2024 2025 Social Affordable 13,171 13,876 12,599 15,059 16,679 16,438 18,587 17,525 21,156 2022 2023 2024 2025 2026 H1 H2 29,609 32,463 30,124 36,215 44,000 40,400 39,600 40,000 40,000 38,500 39,000 40,214 42,000 42,500 42,000 43,000 43,000 40,500 41,000 42,000 Davy Goodbody Bank of Ireland EY Central Bank ESRI AIB Average 2026 2027 Cairn Homes plc | 2026 Interim Results Presentation Sources: DHLGH, CSO, as stated. +149% H1 26 vs H1 25 (6,414) +11% H1 26 vs H1 25 AppendicesOutlookFinancial Highlights H1 2026 Highlights 22,170 new affordable homes since 2022
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www.cairnhomes.comCairn Homes plc. 45 Mespil Road, Dublin, D04 W2F1 01 696 4600