Slides
Page 1
Analyst and Investor Presentation Interim Results Analyst and Investor Presentation For the 6 Months Ended 31 August 2026
Page 2
Vertu Advantages: Our Investment Case Scale Benefits • Stable, experienced management with capacity to manage further growth • Dedicated franchise based divisions with strong and growing Manufacturer partner relationships • Scale delivering synergies including marketing and IT • Growth opportunities increasingly visible to allow selective investment Resilient Aftersales Cost Optimisation Maximise Returns • Full sales and aftersales offering to increase capture of lifecycle vehicle spend • Retention focus with two million customers on the Group database and over 160,000 customers with high retention service contracts • Delivery of above-sector average customer experience levels backed up by extensive training and technology • Driving higher ROI and margin accretive revenue streams • Disciplined cost control; controlling the controllables • In-house systems developed to improve process efficiency, aid decision making and reduce costs • Single Vertu brand gives efficiency • Effective marketing investment delivers key brand growth with optimised ROI • Tech investment includes growing, well controlled use of AI to drive conversion and efficiency in increasing number of areas • Disciplined capital allocation • Active portfolio management • Sale of underperforming businesses and surplus assets • Property portfolio (£327m) supported by valuation, half of portfolio unencumbered • Transitioning to broader Manufacturer partnerships with new entrants from China • 19 years of trading profitably since inception 5% Market share New Cars & Vans 44% of gross profit from aftersales 9.9% Opex. as % of revenue (H1 FY26: 10.0%) 21.9% shares bought back since 2018 2
Page 3
At a Glance Adjusted Profit Before Tax 1 : £23.8m (H1 FY26: £20.0m) - 19% up Further upgrade announced making three upgrades to FY27 profit delivered year-to-date Net Tangible Assets per share: 80.8p (28 February 2026: 75.9p) Free Cash Flow: £17.5m (H1 FY26: £0.4m) Net Debt 2 : £54.2m (28 February 2026: £61.3m) Better than expectations Record Revenues: £2.60bn (H1 FY26: £2.51bn) T ech developments including AI: Helping cost and efficiency including sales conversion ZEV mandate (car and van) pressure on sector Growth of Chinese OEM’s in market: Portfolio reshaping rapidly: tariff threat Key themes: 3 1 Excludes non-underlying items 2 Excludes lease liabilities Consolidation – Evolution of Super Groups
Page 4
Current Trading - September Year-on-year movement in revenue +/- % Total Revenue (Total Group) 0.0% Total Revenue (Core Group) +0.1% Service Revenue (Total Group) 3 +1.7% Service Revenue (Core Group) 3 +3.4% • Strong start to the second half across all areas of the business: Profit above prior year levels (adjusted for prior year impact of JLR cyber attack) with trading aided by a robust new car market • Core Group profit rose in all channels • New car market showing strong growth driven by improved retail mix, increased pre-registrations and impact of Chinese brands • Chinese brands (excluding Volvo) accounted for 24.5% of September UK new retail market • Like-for-like new retail volumes were level compared to prior year, UK registrations grew by 13.9% • Reduced new van volumes as market shifted to more flexible, rental contracts from longer term contract hire • Motability market showing excellent growth as predicted • Operating expenses well controlled 1 Source SMMT 2 includes agency volume 3 Includes internal and external revenue Group Like-for- like % Change UK % Change (SMMT) 1 New retail car and bikes2 0.0% +13.9% Motability +26.7% +28.7% Fleet car2 +2.8% +5.1% New commercial vans (8.4%) +4.8% Total new vehicles +3.0% Used vehicles - retail +1.9% Total vehicles sold +2.6% Like-for-like vehicle volume – September FY2027 59.1 63.1 0.4 0.5 0.6 0.2 2.3 Sep FY26 New vehicles Fleet and Commercial vehicles Used vehicles Aftersales JLR Cyber Attack Sep FY27 Core Group (exc. impact of JLR cyber attack) gross profit movement: +£1.7m 4
Page 5
Outlook • Full year results for the year ending 28 February 2027 are anticipated to be ahead of current expectations 1 • A number of self help measures being deployed: • Expansion into new markets, such as ‘Value Cars’ by Vertu, growing sales volumes in the older car segment and launch of Shariah law compliant used vehicle finance • Role out of sales executive package changes to the Group’s premium franchise outlets. Changes already implemented in volume franchise dealerships have improved sales performance and colleague retention • Enhancement of technician remuneration to improve retention and recruitment and increase capacity in the high margin aftersales business • Cost control will be a key priority, with the Group planning to provide further cost efficiencies through the adoption of technologies, energy saving systems and increasing use of data and sales attribution to increase the return on investment from marketing spend • The ZEV mandate continues to negatively impact the sector through its impact on new vehicle pricing, channel mix and vehicle supply. This pressure is likely to continue into 2030 even after revised ZEV mandate following consultation • Caution on consumer demand, uncertain due to rising inflation and interest rates • Opportunities for the further expansion of Chinese brands and wider acquisition opportunities are being assessed against strict investment hurdle metrics • In October 2026 Group received key industry awards of Autotrader “Retailer of the Year” for the second year running and “Bikes Retailer of the Year” 5 1 According to compiled data at 13 October 2026, the current consensus of three sell side analysts’ expectations for FY27. Adj usted profit before tax is £26.5m with a range of £25.5m to £27.1m .
Page 6
Strategic Update Robert Forrester CEO
Page 7
Mission & Values PASSION RESPECT PROFESSIONALISM INTEGRITY RECOGNITION OPPORTUNITY COMMITMENT Strategic GoalsSustainability Goals Consistent Group Strategy Work with our Manufacturer partners to provide increasingly sustainable choices for customers Reduce the environmental impact of our business Care for our colleagues and support our communities To grow as a major scaled franchised dealership group and to develop our portfolio of Manufacturer partners, whilst being mindful of industry development trends, to maximise returns Growth To aim for every dealership to be the best retailer in their respective town or city To deliver an outstanding customer motoring experience through honesty and trust Vertu Motors to be the most admired and respected dealer group in the automotive industry To develop ancillary businesses to add revenue and returns which complement the core business Ancillary businesses To develop and motivate the Group’s colleagues to ensure consistency of operational excellence and delivery to customers across the business Colleague & Customer Focus • Optimise omnichannel retail offering and promote our brand to drive enquiry levels • Digitalise aftersales process • Reduce cost base, deliver efficiency through use of technology • Utilise data driven decision making to enhance returns Digitalisation 7
Page 8
Evolving Competitive Landscape in New Vehicles BEV & ZEV Mandate • Battery electric vehicle (“BEV”) registrations grew strongly, reaching almost 356,000 units in the first eight months of 2026, a 25.6% calendar year-to-date market share to the end of August. • Headline ZEV mandate targets for 2026 currently remain 33% for cars and 24% for vans • Vertu like-for-like BEV retail sales up 125.6% ahead of the Private market growth of 75.9% (March to August) • In August 2026, the Government opened a formal review of the mandate, seeking views on the annual target trajectory. Consultation remains open until 23 October 2026 • The ZEV mandate continues to negatively impact the sector through its impact on Manufacturer pricing, channel mix and vehicle supply. This pressure is likely to continue into 2030 even after revisions to the EV Mandate following consultation Chinese New Entrants • Rapid expansion of Chinese automotive Manufacturers remained an important structural feature of the UK car market during the Period • Chinese production overcapacity and current tariff-free trade with UK driving change; Chinese brands excluding Volvo represented 24.5% of the September new retail market • New brands continued to broaden model choice across BEV, plug-in hybrid and hybrid powertrains, supported by competitive pricing, strong technology propositions and increasing retailer outlets • Growth is intensifying competition and contributing to pressure on both pricing and established brand loyalty • Chinese brands engaging in significant short-cycle fleet and pre-registration activity helping to drive overall UK new car market growth • Used car market impacted due as heavy discounting and highly competitive finance are pricing new vehicles at or below the cost of used vehicles • UK Government appears to be considering applying EV tariffs to Chinese made EV cars to gain access to “Made in EU” initiative 8 19.8% 11.6% 35.0% 25.6% Private Motability Fleet Total Car Market BEV as % of T otal UK Registrations (Source: SMMT) January to August 2026
Page 9
Portfolio Development 9 182 176 174 9 18 31 31-Aug-25 31-Aug-26 Anticipated by mid-2027 Growing Representation of Chinese Manufacturers* Other Outlets Chinese Owned Outlets 4.7% 9.3% 15.1%% = Chinese brands as % of outlets 1 1 1 2 2 2 2 3 5 5 7 Chery Denza LEVC Smart Jaecoo Omoda Leapmotor iCaur Geely MG BYD Chinese Outlets by Manufacturer 31-Aug-25 31-Aug-26 Anticipated by mid-2027 * Excludes Geely owned Volvo
Page 10
Digitalisation Cost Reduction and Control Selling Older Used Cars Colleague & Customer Experience Returns to Shareholders Other Strategic Actions “Controlling the controllables”
Page 11
Digitalisation Opportune vMax • Group's new real-time sales performance sales executive commission dashboard • Provides enhanced transparency, colleague engagement and management oversight • vMAX shows the sales executives their earning opportunity on next deal, what they have missed out on previous deals and key performance ratios • Gamification elements within vMAX are driving both greater sales effectiveness and higher sales per sales executive. This has led to higher sales team earnings FitBits • ‘Fit Bits’ parts performance dashboard, launched across the Group on 1 August 2026 • Centrally developed dashboard provides a consistent view of key operational and financial - control measures across all of the Group’s parts departments • Tool introduces an element of gamification that has increased engagement and local accountability, while enabling central management to identify operational deficiencies • Early improvements have been achieved in stock management, strengthening control and reducing operational and balance -sheet risk • In the Period ‘Opportune’ piloted across 18 dealerships; extended to 52 dealerships in October • AI-enabled sales tool which analyses customer telephone enquiries into the Group’s Centralised Sales Experience Centre • Developed alongside the third party telephony provider for the Group • Provides dealership sales colleagues with a tailored summary, recommended actions and guidance on potential objections and risks • Shows skills required to make a sale • Pilot Group have shown improved sales conversion rate of 24.8%, an increase of 12.7% compared with 22.0% across a representative control group of comparable, non-participating dealerships 11
Page 12
Used Cars over 7 years old; performance since launch 1 April 2026 1,400+ Additional 7 year+ Cars sold 13% of Used Vehicles Sold up from 10% £1,437 Average GPPU +11% vs prior year 13.5% Gross Margin Compared to 6.9% in sales of <7 year old cars 32 Days Stock Turn 14 Days faster than <7 year old • Route to market: selling over 7 year plus old cars • Revised preparation standard • Use of non-OEM parts in preparation • Finance available extended to 12 year-old cars • New warranty product developed • Crucially cars sourced by dealerships as ‘Value’ cars are not transferrable to other sites 12 Coming soon… Shariah Law Compliant Used Car Finance
Page 13
Colleague & Customer Experience ▸ On 1 April, the Group introduced a new Sales Executive remuneration framework across its volume franchise operations, increasing base salaries and enhancing performance -related earning opportunities ▸ New structure more closely aligns colleague incentives with key operational objectives including vehicle volumes, finance penetration, product sales and customer satisfaction ▸ Changes were launched alongside “vMAX” ▸ Initiatives have helped reduce Sales Executive turnover significantly ▸ Similar changes to Premium Sales Executive packages will apply from 1 November Sales Executives Technicians Great Place to Work Customer Experience • Group experienced an increase in technician vacancies during the latter part of the Period, in part due to moves to increase the aftersales capacity of the Group • Review of technician remuneration is under way, with pay packages being augmented to support retention, recruitment and further growth in aftersales capacity • These changes to Technician remuneration will be implemented on 1 November 2026 • Stability of the Group’s overall colleague base has improved over the Period and engagement remains high • 85% of colleagues believe Vertu is a “Great Place to Work” • Recognised as one of the UK’s Top 100 Apprenticeship Employers for 2026, emerging as the highest - ranked automotive retail group on the list • Investment in degree apprentices, technician apprentices and graduates continue to feed talent pipeline +38% New Car CSI v national average +6% Aftersales CSI v national average 85% Used Car NPS (JudgeService) 53% 49% 46% 39% Feb-25 Aug-25 Feb-26 Aug-26 Group Sales Executive Turnover 13 Autotrader Retailer of the Year 2025 and 2026
Page 14
Cost Reduction and Control • Salary costs have increased due to the following: • Marketing cost increase reflects additional fleet introductory commission spend arising from significant growth in Fleet volumes. During the Period the Group delivered two brand new Group wide new vehicle sale events with significant marketing investment • Other costs have increased by £1.4m in the Core Group, reflecting investment in IT systems and AI along with inflationary increases in other areas. These rises in part allowed the Group to increase productivity and deliver headcount savings • Disposals of poor performing dealerships has reduced the cost base • Share based payments costs are level year- on-year despite a reduction in awards, due to a decline in leaver rate: stability of Management1 Excludes non-underlying items 14 6-month period ended 31 August £’m 2026 2025 Variance Variance % Salary cost 142.9 137.5 5.4 3.9% Vehicle and valeting costs 27.8 27.7 0.1 0.4% Property costs and depreciation 31.2 30.6 0.6 2.0% Other (including IT) 27.5 26.1 1.4 5.4% Marketing costs 21.4 20.7 0.7 3.4% Share based payments and amortisation 1.9 1.9 - - Core Group operating expenses 252.7 244.5 8.2 3.4% Core Group operating expenses as a percentage of Core Group revenues 9.9% 10.0% 0.1% Acquisitions 3.4 0.0 3.4 Disposals 0.5 6.7 (6.2) Group net underlying operating expenses1 256.6 251.2 5.4 2.1% Operating expenses as a percentage of revenues 9.9% 10.0% 0.1% Higher Sales Performance driving earnings 5.4 National Minimum Wage Change 1.3 Investment into Management Teams 0.9 National Insurance Costs 1.2 Headcount Savings (3.4) Salary Cost Movement 5.4
Page 15
Returns to Shareholders Portfolio Management • Active portfolio management resulted in a continued trend in the disposal of surplus property assets at a premium to book value • Group is progressively increasing its opportunity with Chinese brands reflecting the fundamental transformation of UK car market structure • Total net capital expenditure of £5.3m in the Period, net of £1.6m sale proceeds from surplus property • Net capital expenditure of £21.6m currently anticipated for FY27 which includes planned expansion with Chinese brands Share Buyback • 2.5m shares (0.8% of share capital in issue at 1 March 2026) repurchased for £1.8m in FY27 as at 30 th September • £10.2m remains of the £12m Share Buyback programme announced in March 2026 • Since the commencement of the buyback programme in October 2018, and up to 30th September 2026, the Group has reduced its issued share capital by 21.9% • £4m (6.4m shares) purchased into the Employee Benefit Trust in the Period • Board committed to share buyback programme at levels up to 5% more than tangible net assets per share (85p per share) Dividends • Interim dividend increased 11% to 1.00p per share (H1 FY26: 0.90p) • Interim dividend will be paid on 15 January 2027 • Policy of targeting full year cover on adjusted diluted EPS of 2.5 – 3.5 times 15 0.7 0.8 1.05 1.3 1.4 1.5 1.6 0.6 1.7 2.15 2.35 2.05 2.05 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY22 FY23 FY24 FY25 FY26 Dividend Per Share History
Page 16
Financial Performance Karen Anderson CFO
Page 17
Financial Highlights 17 1 Excludes non-underlying items (non -underlying items in the Period were a net income) Adjusted1 profit before tax for the Period of £23.8m (H1 FY26: £20.0m) up 19% Record H1 revenues, with strong organic growth Group like-for-like gross profit up £10.9m; with growth delivered in all channels Group continued its strong focus on cost control with like -for-like operating expenses slightly down as a percentage of revenue in the Period Non-underlying items represent a net income of £0.4m due to a surplus property disposal at above net book value Excellent cash conversion of 94.2%; cash flow from operating activities £32.5m from an operating profit of £34.5m Group generated Free Cash Flow of £17.5m in the Period (31 August 2025: £0.4m) Tangible net assets per share of 80.8p (28 February 2026: 75.9p) New three-year banking facilities, with option to extend to five -years, reducing future financing costs
Page 18
Income Statement Revenue: £86.5m rise in revenues driven by growth in the Core Group (+£106.0m) and the impact of acquired businesses and start -ups (+£29.5m). Closures and disposals during th e period resulted in a revenue reduction of £49.0m Gross Margin: Flat at 11.2% Operating Expenses: Operating expenses as a % of revenue decreased by 0.1% in the Core and total. This reflects the strong focus of the Group on cost control and the decisions taken to prune underperforming businesses. Operating Margin: Improved to 1.3% from 1.2% in prior year Net Finance Charges: Overall reduction of £0.8m is driven by a decrease in new vehicle stocking charges and bank interest savings Non-underlying items: Profit on disposal of assets held for resale of £0.5m in the Period has been shown as non -underlying income in the Period, partially offset by dealership closure costs EPS: Growth of 24.9% 6-Month Period Ended 31 August £’m (unless otherwise stated) 2026 2025 % Change Revenue 2,596.5 2,510.0 3.4% Gross profit 290.6 282.2 3.0% Gross margin % 11.2% 11.2% - Operating expenses (256.6) (251.2) (2.1%) Operating expenses as % of revenue 9.9% 10.0% (0.1%) Adjusted operating profit1 34.0 31.0 9.7% Operating profit margin % 1.3% 1.2% 0.1% Net finance charges (10.2) (11.0) 7.3% Adjusted profit before tax1 23.8 20.0 19.0% Net non-underlying items 0.4 (0.5) 180.0% Profit before tax 24.2 19.5 24.1% Adjusted Basic EPS1 (pence) 5.71p 4.57p 24.9% Dividend per share (pence) 1.00p 0.90p 11.1% 18 1 Excludes non-underlying items
Page 19
20.0 23.8 3.4 1.0 2.6 3.9 (8.2) 0.8 0.3 H1 FY26 Adjusted PBT New vehicles Fleet and commercial vehicles Used vehicles Aftersales Core Group operating expenses Finance Costs Acquisitions, start-ups and disposals H1 FY27 Adjusted PBT Profit Bridge – Adjusted PBT All values in £’million Core Group Core Group Gross Profit Movement: +£10.9m (3.9) 19 1 Excludes non-underlying items
Page 20
Vehicle Inventory 31 Aug 2026 £’m 28 Feb 2026 £’m Variance (Aug 26 v Feb 26) £’m New vehicles 509.5 579.4 (69.9) Demonstrators 41.9 42.1 (0.2) Used vehicles 185.9 174.3 11.6 737.3 795.8 (58.5) Balance Sheet 31 Aug 2026 £’m 28 Feb 2026 £’m 31 Aug 2025 £’m Intangible assets 136.3 136.6 137.3 Retirement benefit asset 3.6 3.6 3.7 Right-of-use assets 86.4 88.7 93.7 Tangible assets 350.9 354.0 357.8 Non-current assets 577.2 582.9 592.5 Current assets 879.4 898.6 883.6 Property assets held for sale 3.6 4.5 5.1 Cash and cash equivalents 78.0 73.1 58.5 Total assets 1,538.2 1,559.1 1,539.7 Current liabilities (903.9) (934.1) (900.5) Non-current liabilities (37.6) (35.1) (34.5) Lease liabilities (96.6) (98.0) (103.9) Borrowings (132.2) (134.4) (136.8) Net assets 367.9 357.5 364.0 Tangible net assets 247.3 235.1 241.3 Tangible net assets per share (pence) 80.8 75.9p 76.1 1 Excludes lease liabilities • Tangible net assets per share of 80.8p, up from 76.1p (6.2%). • Freehold and long leasehold property portfolio at depreciated historic cost of £327m within tangible assets • Desktop valuation recently performed by Knight Frank indicates support of property values at current net book value: 54% of portfolio unencumbered by mortgages • Net Debt1 of £54.2m (FY26: £61.3m) • One of the two properties assets held for sale at 28 Feb 2026 sold in March 2026 for £1.5m, generating a profit on disposal of £0.5m • New vehicle stock declined due to reduced pipeline of stock funded by Manufacturer facilities with no cash impact 20
Page 21
Net Debt & Refinancing • In October 2026, the Group agreed the renewal of its revolving credit facility, replacing the existing £93m acquisition-only facility which was due to expire in December 2027 • New facility comprises a £70m revolving credit facility for general commercial purposes, together with a £50m accordion to retain capacity for future acquisitions • These two facilities have an initial three -year term, with options to extend for up to a further two years • Broader purpose of the facility will allow the Group to repay and redraw funds as cash and working capital requirements change on a seasonal basis, improving treasury efficiency while maintaining committed liquidity and strategic flexibility • The new facility reduces the margin payable by 0.25% on previous levels • Refinancing expected to save c.£0.5m in annualised finance costs: c.£0.1m in FY27, with the full benefit thereafter • c.60% of Group debt is long -term property backed mortgages with no covenants Current Facilities £’m Net Debt at 31 August 2026 £’m 20 year mortgage facility (from December 2020) 9.2 9.2 20 year mortgage facility (from December 2022) 60.8 60.8 10 year mortgage facility (from December 2024) 6.3 6.3 76.3 76.3 5 year revolving facility (from October 2026) 70.0 55.9 1 year working capital facility (from May 2026) 48.0 - Used vehicle stocking loans 70.0 - Total committed facilities 264.3 132.2 Uncommitted accordion facility (from October 2026) 50.0 - Cash (78.0) Overdraft 5.0 - Total facilities 319.3 Net Debt (excluding lease liabilities) 54.2 Lease liabilities 96.6 Total Net Debt including lease liabilities 150.8 21
Page 22
32.5 17.5 7.1 (4.1) (10.9) (1.2) (3.5) (5.3) (0.4) Net cash flow from operating activities Net sustaining capital expenditure Lease principal repayments Free Cash Flow Enhancement capital expenditure Dividends paid Repurchase of own shares/sale of treasury shares (inc. EBT) Non cash movement in borrowings Decrease in Net Debt (excluding lease obligations) Free Cash Flow, Net Debt and Gearing Cash Flow 6 Months Ended 31 August 2026 £’m 2025 £’m Operating profit 34.4 30.6 Depreciation, amortisation and impairment 21.9 20.6 Profit on sale of assets (0.5) (0.9) Working capital (11.0) (21.2) Share based payments 1.4 1.4 Interest and taxation (13.7) (14.5) Net cash flow from operating activities 32.5 16.0 Net Debt1: £54.2m (FY26: £61.3m) Gearing1: 15% (FY26: 17%) All values in £’m 1 Net Debt (excluding lease liabilities)/Shareholders funds Free Cash Flow: £17.5m (H1 FY26: £0.4m) Very strong cash conversion at 94% 22
Page 23
Trading and Operational Update
Page 24
New Vehicle Sales Performance H1 FY27 Volume2 Group Like- for-like % Change UK % Change (SMMT) 1 Group Like- for-like v SMMT % New retail car and bikes 3 21,686 8.8% 13.1% (4.3%) Motability 9,564 11.6% 10.7% 0.9% Fleet car3 20,704 30.5% 8.4% 22.1% New commercial vans 8,286 (3.7%) 5.7% (9.4%) Total new vehicles 60,240 13.7% Like-for-Like New Vehicle Volume 6 months to 31 August 2026 Group2 Share of UK Market H1 FY27 New retail car Motability Fleet car New vans 4.5% (FY26: 4.8%) 5.8% ( FY26: 5.8%) 4.1% ( FY26: 3.4%) 4.9% (FY26: 5.4%) 1 Source: SMMT 2 Total Group 3 includes agency volume 4 includes agency & Motability volume Core Group New retail car and bikes 4 New fleet & vans H1 FY27 +/- v H1 FY26 H1 FY27 +/- v H1 FY26 Selling price per unit (£) 26,025 (322) 26,969 (2,310) Gross profit £’m 58.8 +3.4 28.5 +1.0 Gross profit per unit £ 1,913 (55) 984 (142) Gross margin % 8.0% +0.4% 4.6% (0.4%) 24 Like-for-Like New Vehicle KPI’s 6 months to 31 August 2026 (5.5%) (1.5%) 1.5% 2.5% 8.8% (11.2%) (3.2%) 4.0% 6.6% 13.1% H1 FY25 H2 FY25 H1 FY26 H2 FY26 H1 FY27 Like-for-like unit % growth Like-for-like new retail unit growth/(decline) versus UK market Like-for-like Retail UK Private Registrations
Page 25
21,580 20,425 20,634 21,057 20,977 21,318 20,783 (5.7%) 2.0% 3.9% (3.0%) (0.5%) 1.0% 3.7% H1 FY24 H2 FY24 H1 FY25 H2 FY25 H1 FY26 H2 FY26 H1 FY27 Units +/- % Selling price per unit £ Like-for-like movement in used units and Group selling price per unit Selling price per unit Units Used Vehicle Sales Performance • Vertu Value Cars launched 1 April 2026 to grow used car performance and retail older used vehicles previously traded outside the Group • Core Group used vehicle performance ahead of prior year aided by the positive impact of Value Cars • Average sales prices declined 2.5% (£535) compared to H2 FY26 • Core Group gross profit up £2.6m year -on- year on a like-for-like basis with growth in volume and margin • Group saw higher Core Group gross margin % of 7.3% reflecting reduced used van mix and Value Cars impact. This offset weaker margin in Premium large SUV segment which was impacted by higher fuel prices Core Group H1 FY27 H1 FY26 +/- +/- % Revenue (£’m) 987.6 971.3 16.3 1.7% Gross profit (£’m) 72.3 69.7 2.6 3.7% Gross margin % 7.3% 7.2% +0.1% Volume (units) 47,470 45,787 1,683 3.7% Gross profit per unit (£) 1,522 1,517 +5 0.3% 25
Page 26
Group Aftersales Performance • Strong growth in Service aided by higher number of customers taking Vertu Pay Later options, helping drive up conversion of a ddon work and increased average invoice value • Part departments have benefited from the additional Service revenue as well as market share gains in trade parts operations • Group has 160,000 live service plans and more than 50,700 Motability vehicles under contract, the Group has a highly resilient aftersales revenue base • Decline in number of accidents has negatively impacted Accident & Repair revenues. This is offset by enhanced growth in Smar t repair operation at improved margins 1 Includes internal and external revenue 2 Margin in aftersales expressed on internal and external revenue Core Group H1 FY27 v H1 FY26 Service Parts Accident & Smart Repair Fuel Forecourt Total Revenue 1 (£’m) 116.5 149.6 15.6 6.9 288.6 Revenue 1 change % 2.9% 3.9% (0.4%) 33.2% 3.8% Gross profit (£’m) 85.7 31.7 10.0 0.6 128.0 Gross profit increase (£’m) 2.5 1.1 0.2 0.1 3.9 Gross margin 2 % 73.6% 21.2% 64.2% 8.6% 44.4% Gross margin 2 % change 0.1% (0.1%) 1.4% (0.1%) (0.3%) 26
Page 27
Group Well Positioned Group stable, well-capitalised and asset backed Group excited to benefit from pace of change and high level of opportunities Firepower and ambition to further expand operations and scale People-focus provides talented, motivated colleagues to serve customers Digitalisation gathering pace in impact, benefiting customers and productivity 27
Page 28
Appendices
Page 29
Definitions of Key Terminology Core: Comparison against FY26 Dealerships that have traded for the full period of March 2025 to August 2025 and March 2026 to August 2026 Like-for-like: Dealerships that have comparable trading periods in two consecutive financial years, only the comparable period is measured a s “like-for-like” FY27: The twelve month period ended 28 February 2027 FY26: The twelve month period ended 28 February 2026 FY25: The twelve month period ended 28 February 2025 H1 FY27: The six month period ended 31 August 2026 H1 FY26: The six month period ended 31 August 2025 H1 FY25: The six month period ended 31 August 2024 29
Page 30
New Vehicle Trends (Retail and Motability) H1 FY24 H2 FY24 H1 FY25 H2 FY25 H1 FY26 H2 FY26 H1 FY27 Selling price per unit [1] (£) 25,906 25,338 26,180 26,064 26,155 25,497 26,045 Gross profit per unit [1] (£) 2,170 2,019 1,965 1,984 1,948 1,857 1,908 Margin (Group) [1] 8.5% 8.0% 7.6% 7.7% 7.6% 7.6% 7.9% Margin (Core Group) [1] 8.2% 7.8% 7.6% 7.9% 7.7% 7.7% 8.0% Like-for-like unit (Retail) growth/(decline) 1.1% (4.1%) (5.5%) (1.5%) 1.5% 2.5% 8.8% UK private registrations [2] growth/(decline) 1.4% (3.7%) (11.2%) (3.2%) 4.0% 6.6% 13.1% 1.1% (4.1%) (5.5%) (1.5%) 1.5% 2.5% 8.8% 1.4% (3.7%) (11.2%) (3.2%) 4.0% 6.6% 13.1% (20.0%) (10.0%) 0.0% 10.0% 20.0% H1 FY24 H2 FY24 H1 FY25 H2 FY25 H1 FY26 H2 FY26 H1 FY27 Like-for-like unit % growth Like-for-like new retail unit growth/(decline) versus UK market Like-for-like Retail UK Private Registrations [1] Includes Motability sales [2] Source SMMT 30
Page 31
Fleet and Commercial Vehicle Trends H1 FY24 H2 FY24 H1 FY25 H2 FY25 H1 FY26 H2 FY26 H1 FY27 Selling price per unit (£) 27,085 28,196 29,288 29,806 29,274 27,798 26,968 Gross profit per unit (£) 1,160 1,296 1,272 1,194 1,124 981 984 Margin (Group) 5.1% 5.6% 5.2% 5.4% 5.0% 4.5% 4.6% Like-for-like unit growth (Fleet) 9.9% 14.0% 6.6% 3.1% 16.6% 24.6% 30.5% UK car fleet registrations[1] growth 36.3% 18.2% 9.7% 3.8% 13.5% 11.9% 8.4% Like-for-like unit growth/(decline) (Vans) 6.2% (11.0%) (15.0%) (2.0%) (9.4%) (14.2%) (3.7%) UK van commercial registrations[1] growth/(decline) 19.8% 18.8% 2.0% (2.1%) (9.4%) (7.6%) 5.7% [1 ] Source SMMT 31
Page 32
Used Vehicle Trends H1 FY24 H2 FY24 H1 FY25 H2 FY25 H1 FY26 H2 FY26 H1 FY27 Selling price per unit (£) 21,580 20,425 20,634 21,057 20,977 21,318 20,783 Gross profit per unit (£) 1,535 1,296 1,490 1,455 1,487 1,414 1,512 Margin (Group) 7.1% 6.3% 7.2% 6.9% 7.1% 6.6% 7.3% Margin (Core Group) 7.4% 6.9% 7.3% 7.0% 7.2% 6.8% 7.3% Like-for-like unit growth/(decline) (5.7%) 2.0% 3.9% (3.0%) (0.5%) 1.0% 3.7% 32 21,580 20,425 20,634 21,057 20,977 21,318 20,783 (5.7%) 2.0% 3.9% (3.0%) (0.5%) 1.0% 3.7% H1 FY24 H2 FY24 H1 FY25 H2 FY25 H1 FY26 H2 FY26 H1 FY27 Units +/- % Selling price per unit £ Like-for-like movement in used units and Group selling price per unit Selling price per unit Units
Page 33
Vehicle Volumes Sold 124,489 21,686 9,564 8,286 20,704 48,164 16,085 117,570 20,250 8,638 8,626 15,800 47,799 16,457 Total Volumes Total New Retail New Motability New Commercial Total Fleet Car Used Retail Used Trade T otal units sold H1 FY26 H1 FY27 H1 FY27 vs H1 FY26 +/- % (2.3%) +0.8% +31.0% (3.9%) +10.7% +7.1% +5.9% 122,863 21,318 9,380 8,276 20,586 47,470 15,833 113,968 19,596 8,408 8,597 15,773 45,787 15,807 Total Volumes Total New Retail New Motability New Commercial Total Fleet Car Used Retail Used Trade Like-for-like units sold H1 FY26 H1 FY27 H1 FY27 vs H1 FY26 +/- % +0.2% +3.7% +30.5% SMMT +8.4% (3.7%) SMMT +5.7% +11.6% SMMT 10.7% +8.8% SMMT +13.1% +7.8% 1 Includes agency volume 1 1 1 1 33
Page 34
Dealership Portfolio 196 sales outlets Group Brand Sales Outlets JLR Land Rover 10 Jaguar 1 Toyota T oyota 11 Mercedes Mercedes-Benz 5 Mercedes-Benz Commercial Vehicles 1 Geely Volvo 5 Geely 4 SMART 1 LEVC 1 BYD BYD 5 Mazda Mazda 3 Chery MG 4 Omoda 2 Jaecoo 2 Ferrari Ferrari 1 Group Brand Sales Outlets Stellantis Vauxhall 15 Peugeot 9 Citroen 4 Leapmotors 2 BMW BMW 7 MINI 7 BMW Motorcycles 4 Ford Ford 16 Nissan Nissan 13 Renault Renault/Dacia 11 Alpine 1 Honda Honda 14 Honda Motorcycles 2 Volkswagen Group Volkswagen 8 Skoda 5 SEAT/Cupra 3 Ducati Motorcycles 1 Volkswagen Commercial Vehicles 1 Audi 1 Hyundai Hyundai 11 Kia 4 Kia PBV 1 34
Page 35
This presentation contains forward looking statements. Although the Group believes that the estimates and assumptions on which such statements are based are reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond the Group’s control. The Group does not make any representation or warranty that the results anticipated by such forward looking statements will be achieved and this presentation should not be relied upon as a guide to future performance. Disclaimer