Slides
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Results for the year ended 31 July 2026 Graham Charlton, CEO Katy Mecklenburgh, CFO 14 October 2026
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Softcat plc International branches 5 2 We support SMB to enterprise-scale organisations across the corporate and public sectors to modernise and optimise their technology infrastructure. From the edge to the cloud, and from security through to data, Al, the network and workplace Gross profit Corporate and public sector customers 10,534 at 31 July 2026 Customer satisfaction NPS: 64 as surveyed in May 2026 Offices across the UK&I, USA and Singapore 12 Gross invoiced income FY26 2 £4.7bn Employees 3,036 at 31 July 2026 Underlying operating profitEmployee engagement NPS: 56 as surveyed in October 2025 FY26 £215m FY26 £616m 72%28% CorporatePublic sector 400+ vendors 1 Source: Channelweb CRN Top VARs 2025. 2 Gross invoiced income (‘GII’) is an alternative performance measure which correlates closely to the cash received by the business and therefore aids the user’s understanding of working capital movements in the statement of financial position and the relationship to sales performance and the mix of products sold. GII reflects gross income billed to customers adjusted for deferred and accrued revenue as reported in the IFRS measure. FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 10yr CAGR 17.7% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 10yr CAGR 16.5% Softcat: the largest provider of technology solutions and services in the UK 1 and also operating in Ireland, the US and other international markets Results for the year ended 31 July 2026
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FY 2026 Financial Review Katy Mecklenburgh, CFO
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Softcat plc 4 Results for the year ended 31 July 2026 Another year of exceptional growth and consistent strategic execution 1 Underlying operating profit reflects statutory operating profit, adding back non-underlying costs. Non-underlying costs comprise items which, in the opinion of management, should be identified and excluded to provide a consistent and comparable view of the underlying performance of the Group’s ongoing business. 2 Underlying cash conversion ratio comprises net cash generated from operating activities before taxation and any acquisition related cashflows, including deferred consideration outflows, net of capital expenditure, as a percentage of underlying operating profit. 3 Underlying basic earnings per ordinary share reflect statutory basic earnings per ordinary share, adjusted for the profit after tax impact of non-underlying costs. GII £4.72bn FY25: £3.62bn +30.5% Underlying cash conversion2 93.6% FY25: 95.6% £199.9m closing cash Gross profit £616.3m FY25: £494.3m +24.7% Underlying basic EPS3 83.2p FY25: 69.5p +19.7% Customers 10,534 FY25: 10,186 +3.4% Gross profit per customer £58.5k FY25: £48.5k +20.6% Underlying operating profit 1 £215.1m FY25: £180.1m +19.4% Ordinary dividend 31.5p FY25: 29.3p +7.5%
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Softcat plc Summary income statement 5 £m FY26 FY25 Change Gross invoiced income 4,719.7 3,617.0 30.5% Revenue 1,975.1 1,458.4 35.4% Gross profit 616.3 494.3 24.7% GP/GII % 13.1% 13.7% (0.6%) pts Admin. expenses (401.2) (314.2) 27.7% Underlying operating profit 215.1 180.1 19.4% Gross profit per employee (£’000) 210.7 187.3 12.5% • GII growth led by 41.6% growth in hardware driven by strong datacentre and networking sales supported by the contribution from larger solutions projects and pull forward of orders from some customers due to memory shortages. Services and software grew by 30.1% and 25.3%, respectively • Revenue growth primarily reflects a higher mix of hardware, which is reported gross • Strong double-digit gross profit growth in enterprise and small and medium customer segments, supported by high single-digit growth in public sector, with broad based growth across technology areas • GP/GII reduced by 0.6% pts year-on-year, primarily driven by product mix and the dilutive impact of large solutions projects Results for the year ended 31 July 2026
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Softcat plc Summary income statement continued 6 • Admin cost growth of 27.7% was ahead of GP growth. Growth was driven by commissions and investment in headcount, IT, property and corporate development capability, along with one-time items, including a one-off free share award to employees, the overperformance element of variable pay and incentives, and advisory costs relating to GDT acquisition • Lower OP/GP % reflects the ongoing and one-time investments to underpin future growth • Non-underlying costs of £(18.7)m relating to new cloud-based system implementations and Oakland acquisition-related costs • Net interest higher year-on-year, reflecting higher interest income • Effective tax rate of 25.8% with higher tax charge broadly in line with growth in statutory operating profit Results for the year ended 31 July 2026 £m FY26 FY25 Change Admin. expenses (401.2) (314.2) 27.7% Underlying operating profit 215.1 180.1 19.4% OP/GP %1 34.9% 36.4% (1.5%) pts Non-underlying costs (18.7) (7.2) System development costs (15.6) (5.3) Oakland costs (3.1) (1.9) Statutory operating profit 196.4 172.9 13.6% Net interest 6.4 5.3 Tax (52.5) (45.2) Profit after tax 150.3 133.0 13.0% Basic earnings per ordinary share (pence) 75.8 66.6 13.8% Average headcount 2,925 2,639 10.8% 1 Underlying operating profit to gross profit ratio.
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Softcat plc Well-diversified customer base and extensive customer offering 7 Our well-diversified customer base, together with the breadth and depth of our customer proposition, supports continued growth and drives significant competitive advantage Results for the year ended 31 July 2026 Customer segment Product T echnology Enterprise: 19% SMB: 53% Public sector: 28% Software: 55% Hardware: 30% Services: 15% Public cloud and datacentre: 37% Networking and security: 30% Hybrid workplace: 33% Percentages represent the proportion of FY26 GII
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Softcat plc 8 Growth driven by adding new customers and selling more to existing customers • Customer count is defined as the number of customers which spent at least £1 with Softcat in each of the two preceding 12- month periods Customer count and GP per customer1 Customers delivering at least £1k GP in a single year1 • Customers that trade >£1k GP in a single year comprise approx. 99% of GP in each year • The rate of growth in GP per customer and number of customers in this cohort is more evenly balanced than in the total customer count FY26 5yr CAGR GP per customer 20.6% 14.7% Customer count 3.4% 2.4% FY26 5yr CAGR GP per customer 16.5% 10.7% Customer count 7.1% 6.1% - £10k £20k £30k £40k £50k £60k 8,000 9,000 10,000 11,000 FY21 FY22 FY23 FY24 FY25 FY26 Customer count GP per customer - £10k £20k £30k £40k £50k £60k £70k £80k 4,000 5,000 6,000 7,000 8,000 9,000 10,000 FY21 FY22 FY23 FY24 FY25 FY26 Customers >£1k GP GP per customer Results for the year ended 31 July 2026 1 Gross profit per customer is defined as gross profit generated over the last twelve-months divided by the customer base.
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Softcat plc Strong cash generation 9 £m FY26 FY25 Underlying operating profit 215.1 180.1 Non-underlying costs (18.7) (7.2) Operating profit 196.4 172.9 Depreciation and amortisation 12.6 10.5 Net movement in working capital (11.7) (4.8) Net capital expenditure (6.6) (15.2) Other 10.6 8.9 Cash from operations before tax, after capex 201.4 172.3 As % of underlying operating profit 93.6% 95.6% Income taxes paid (50.5) (46.8) Dividends paid (92.5) (95.7) Purchase of own shares (45.0) - Acquisition of Oakland - (7.4) Other 4.1 1.4 Net increase in cash during the year 17.6 23.8 Closing cash balance 199.9 182.3 • Underlying operating cash conversion of 93.6%, towards the upper end of our target range of 85- 95% • Good net working capital management • Reduced capex year-on-year, primarily reflecting lower spend on new offices • Returned £137.5m of cash to shareholders during the year, including £92.5m in dividends and £45m through a share buyback programme at a volume weighted average price of 1,333p per share Results for the year ended 31 July 2026
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Softcat plc Further ordinary dividend growth 10 • Total ordinary dividend for the year of 31.5p, up 7.5% versus FY25 and in line with our normal policy of paying out between 40% and 50% of profit after tax as an ordinary dividend (FY26 basic EPS: 75.8p) • During the year, we established a new £50m revolving credit facility, which remained undrawn at year end • In line with our capital allocation framework, we returned excess capital to shareholders through a £45m share buyback, which completed in February 2026 at a volume weighted average price of 1,333p per share • Total value of shareholder dividends and buybacks since IPO is now £754m Results for the year ended 31 July 2026 £m FY26 FY25 Interim 9.9p 8.9p Final 21.6p 20.4p Total ordinary 31.5p 29.3p Special - 16.1p Total 31.5p 45.4p Ex-dividend date 12 November 2026 Payment date 21 December 2026
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Softcat plc Disciplined approach to capital allocation Investment in people, capabilities, property and internal systems FY26 total ordinary dividend of 31.5p, +7.5% Oakland progressing to plan; GDT acquisition post year-end Share buyback programme of £45m completed in February 2026 Results for the year ended 31 July 202611 Investment in organic growth Progressive ordinary dividend Strategic investments Return excess cash to shareholders Distributing between 40% and 50% of reported profit after tax to shareholders each financial year Inorganic growth, including strengthening our technology proposition or internal capabilities, or expanding international markets, to drive long-term value Return excess cash, subject to our new normalised target leverage range of 0.5 to 1.0x Increasing headcount and investing in capabilities, systems and processes to enable growth through building market share. The main driver of long-term shareholder value
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Softcat plc Outlook 12 • Softcat operates in a significant and growing market and continues to invest to drive further market share gains • Looking ahead, and excluding the contribution from GDT, the Board expects to deliver high single-digit underlying operating profit growth in FY2027, slightly ahead of gross profit growth following very strong two-year growth across FY2025 and FY2026 Results for the year ended 31 July 2026
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Strategic Update Graham Charlton, CEO
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Softcat plc Factors driving our FY performance 14 Results for the year ended 31 July 2026 Effective strategy and sustained investment Sharp execution Strong customer growth and robust demand Supply constraints driving activity Benefits of new tools and analytics in our own operations Infrastructure modernisation, including AI, driving broad-based growth
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Softcat plc AI is driving sustainable growth across the portfolio 15 Results for the year ended 31 July 2026 Hybrid platforms Modern workspace Security Networking & connectivity Data, automation and AI AI is driving innovation in enterprise applications This creates huge demand for more complex and greater capacity infrastructure solutions Infrastructure layer Application layer
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Softcat plc The impact of AI on enterprise and public sector infrastructure 16 Results for the year ended 31 July 2026 Infrastructure layer Application layer Hybrid platforms Modern workspace Security Networking & connectivity Data, automation and AI AI applications require and create huge amounts of data which must be moved around networks securely, and processed at different points in different ways Datacentres become larger, more complex, and combine public and private clouds, on prem and edge devices Edge devices carry multiple processing units, more local storage, enhanced connectivity, etc. Security must adapt to a larger and more diverse attack surface, new threats, larger and more dispersed data sets, etc Networks are required to move huge amounts of data faster and more frequently Data governance and organisation is the foundation of AI application design
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Softcat plc AI infrastructure investment: three overlapping cycles 17 Results for the year ended 31 July 2026 Time →TODAY Hyperscaler build-out Neocloud capacity Enterprise and public sector modernisation HYPERSCALERS Concentrated frontier-model and compute investment Softcat exposure: nil / indirect NEOCLOUDS Specialist AI capacity Softcat exposure: selective ENTERPRISES AI embedded across all business workloads Softcat exposure: core business
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Softcat plc 18 Results for the year ended 31 July 2026 A proven strategy for sustainable growth Highly engaged employees Best in class customer propositions Loyalty and trust Market-leading performance Reinvestment in people and proposition Market-leading customer service Acquire more customers Sell more to existing customers Our competitive advantage A special culture Market-leading offering and execution Market-leading customer engagement
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Softcat plc 19 Results for the year ended 31 July 2026 The strategic framework and 4 engines of growth to drive our business forward Sales and customer excellence The broadest offering Operational excellence A special culture WHAT we do Modernise, optimise and source technology solutions WHERE we do it In the UK, Ireland, the US and internationally WHO we do it for SMB to enterprise organisations in both corporate and public sector and across all verticals HOW we do it Easy to work with, delivering the very best customer service across the broadest technology and services offering WHY we exist A special place to work that will always put our people and culture first
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Softcat plc Sales and customer excellence £100k+ GP p.a. FY26: >1k customers 5-year CAGR: 15.9% £10k–£100k GP p.a. FY26: >3k customers 5-year CAGR: 7.2% £1k–£10k GP p.a. FY26: c.4.5k customers 5-year CAGR: 2.7% Customer pool — c.42k customers £Nil — £1k GP p.a. transactional value • Longer average tenure • Higher average number of vendors • Very low churn Customers • Shorter average tenure • Lower average number of vendors • Most churn occurs within first 12-24 months • Longer average tenure • Higher average GP per AM • Fewer customers per AM Account managers • Shorter average tenure • Lower average GP per AM • More customers per AM Number of deals with GP >£0.5m in FY26 54 +17% YoY Results for the year ended 31 July 202620 1/3rd enterprise; 2/3 mid- market * FY26 customer data; Enterprise is defined as >2,000 seats and mid-market is anything under this threshold (both segments include corporate and public sector customers). 0 10 20 30 40 50 60 FY22 FY23 FY24 FY25 FY26
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Softcat plc Vendor management T echnology proposition T echnical and services offering Customer segments Hybrid platforms Cyber security Advise SupportArchitect Manage Public sectorEnterprise Small and medium 400+ vendors Workspace Networking and connectivity Data, AI and automation Implement The broadest offering 21 Results for the year ended 31 July 2026
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Softcat plc 22 Results for the year ended 31 July 2026 Operational excellence Platform enablement AI-powered innovation Foundational investment • Full stack of modern enterprise systems • Contemporary data lakehouse • Foundational work ongoing since FY20 • Copilot as the aggregating AI layer • Softcat navigator (CatNav) and cross-sell analytics released • End to end process re-design and agent development • New sales and HR systems rolled out • Proprietary database developments • Analytical algorithms and automation of workflows
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Softcat plc Our people can tell us how they really feel Voice Smart, professional, informal and busy Welcoming workplaces We recognise and reward great attitude and results Recognition Our leaders are approachable and available Leadership accessibility We excel at the ‘social’ element of ESG The ‘S’ in ESG We trust our people Empowerment Plain language and straight- forward methods wherever possible Keeping it simple Results for the year ended 31 July 202623 A special culture Softcat plc Manchester Dublin Marlow
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Softcat plc 24 Softcat + GDT : multiple routes to value creation Results for the year ended 31 July 2026 Highly capable and proven GDT leadership team and operating structure will be retained Strong alignment of people-first and customer-centric culture • Access to Softcat vendor relationships • Opportunity to upsell a broader IT solutions offer • US customers benefit from stronger global fulfilment capabilities • Enhanced offering aligned to today’s complex IT environment • Increased competitiveness and ability to drive cross-sell and increase wallet share • 24/7 platform for service delivery • UKI customers benefit from stronger global fulfilment and service capabilities • Deeper infrastructure and networking capability • Enhanced vendor relationships A stronger Softcat A stronger GDT A global platform and shared growth ambition
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Softcat plc 25 GDT acquisition strengthens long- term growth opportunity Exceptional performance and good momentum Continued investment across our 4 growth engines AI driving sustainable growth across enterprise infrastructure Summary Results for the year ended 31 July 2026
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Q&A
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Appendix
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Softcat plc Sustainability We strive for a sustainable future and one where our people and our planet can prosper Sustainability and ESG 28 Environmental Social Governance Supply chain • Carbon neutral since 2021 • 100% renewable energy in offices where possible since 2023 • Net zero value chain by 2040 • Gender workforce mix of 40% by 2030 • Increase ethnic minority representation • Increase management team diversity Goals Vision Strategy • Maintain regulatory compliance • Strong and effective governance • Ethical and transparent Updates and awards Softcat operations Customer solutions Education and economy People and community Diversity and inclusion Reporting Risk Compliance • Industry-leading carbon neutral Cisco Support Service • Financial Times European Climate Leaders 2026 • Increased gender and ethnic diversity in FY26 • £477k in charitable donations • We feature on the GPTW lists below • Completion of projects to comply with changes in legislation • Good progress for more effective control environment Results for the year ended 31 July 2026