Announcement PDF 20 November 2025 EMECO HOLD 1 INGS LIMITED 2025 Annual General Meeting EMECOGROUP.COM IMPORTANT NOTICES AND DISCLAIMERS EMECOGROUP.COM 2 Reliance on third party information The information and views expressed in this Presentation were prepared by Emeco Holdings Ltd (the Company) and may contain information that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. No responsibility or liability is accepted by the Company, its officers, employees, agents or contractors for any errors, misstatements in or omissions from this Presentation. Presentation is a summary only This Presentation is information in a summary form only and does not purport to be complete. It should be read in conjunction with the Company’s FY25 Annual Report. Any information or opinions expressed in this Presentation are subject to change without notice and the Company is not under any obligation to update or keep current the information contained within this Presentation. Not investment advice This Presentation is not intended and should not be considered to be the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. The information provided in this Presentation has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. No offer of securities Nothing in this Presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell Company securities in any jurisdiction. Forward looking statements This Presentation may include forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, these statements are not guarantees or predictions of future performance, and involve both known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. As a result, actual results or developments may differ materially from those expressed in the statements contained in this Presentation. Investors are cautioned that statements contained in the Presentation are not guarantees or projections of future performance and actual results or developments may differ materially from those projected in forward-looking statements. No liability To the maximum extent permitted by law, neither the Company nor its related bodies corporate, directors, employees or agents, nor any other person, accepts any liability, including without limitation any liability arising from fault or negligence, for any direct, indirect or consequential loss arising from the use of this Presentation or its contents or otherwise arising in connection with it. Non-IFRS Financial Information This Presentation may use non-IFRS financial information including Operating EBITDA, Operating EBITDA margin, Operating EBIT, Operating EBIT margin and Operating NPAT, net debt and return on capital (ROC). These measures are used to measure both Group and operational performance. A reconciliation of non-IFRS financial information to IFRS financial information is included in the presentation. Non-IFRS measures have not been subject to audit or review. Certain of these measures may not be comparable to similarly titled measures of other companies and should not be construed as an alternative to other financial measures determined in accordance with Australian accounting standards. EMECOGROUP.COM CHAIR’S ADDRESS PERFORMANCE HISTORY – HALF ON HALF Consistent delivery of improved returns and cash flow and stronger balance sheet Revenue ($m) 1 Operating EBITDA ($m) 2 Operating EBIT ($m) 2 Operating NPAT ($m)2 Notes: 1. Excludes discontinued underground contract miningservices revenue 2. Operating financial metricsare non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-IFRS disclosure in the FY25 Results Presentation 3. Net debt / OperatingEBITDA (excludessupply chain funding) 4. Operatingfreecash flow before growth capex 5. Return on capital (ROC) calculatedas LTM OperatingEBIT overaveragecapital employed 309 355 348 383 387 398 1H23 2H23 1H24 2H24 1H25 2H25 115 137 137 143 146 155 1H23 2H23 1H24 2H24 1H25 2H25 40 64 61 65 68 77 1H23 2H23 1H24 2H24 1H25 2H25 20 39 33 35 38 46 1H23 2H23 1H24 2H24 1H25 2H25 1.16 1.10 1.06 1.00 0.84 0.65 1H23 2H23 1H24 2H24 1H25 2H25 8 44 40 47 49 62 1H23 2H23 1H24 2H24 1H25 2H25 13 13 15 15 16 17 1H23 2H23 1H24 2H24 1H25 2H25 27% 31% 32% 37% 38% 39% 9% 14% 14% 17% 18% 19% EBITDA Margin 1H23 2H23 1H24 2H24 EBIT Margin 1H25 2H25 EMECOGROUP.COM 4 Net leverage (x)3 Free cash flow ($m)4 Operating EBITDA & EBIT Margin RTM ROC (%) 5 EMECO’S STRATEGY Emeco’s strategic pillars ensure a sustainable and resilient business and the creation of long-term value for shareholders ▪ Enhance Emeco’s core capabilities in equipment rental through technology. ▪ Develop Emeco’s skilled workforce, rebuild capability and strategic workshop network. ▪ Leverage Emeco’s position as the largest provider of rental equipment to the mining sector. 01 Be Australia’s lowest cost, highest quality, technology- driven mining equipment rental provider ▪ Target a balanced portfolio by customer, project, commodity and region. ▪ Maintain flexibility to service a broad range of customers via a highly diversified fleet portfolio. ▪ Achieve ESG objectives and support the energy transition. ▪ Target net debt / EBITDA around 1.0x to support resilience through mining cycles. ▪ Disciplined capital allocation to maintain free cash flow and target 20% ROC. ▪ Retain flexibility to reinvest in the business and return capital to shareholders. 02 Maintain a balanced and diversified portfolio 03 EMECOGROUP.COM 5 Exercise disciplined capital management EMECOGROUP.COM MANAGING DIRECTOR & CEO’S ADDRESS ▪ The Total Recordable Injury Frequency Rate (TRIFR) has increased from 2.8 recorded in June 2024 to 3.4 as June 2025 and the Lost Time Injury Frequency rate (LTIFR) remained at 0. ▪ Emeco remains committed to providing a healthy and safe workplace. The safety of people is paramount. As such, we remain focussed on reducing TRIFR. ▪ Emeco continues to focus on the actions listed within its HSET Strategic Plan: ̶ Implementation of a tailored training program for new and existing leaders ̶ Development of a contaminant monitoring program for our Workshops commenced ̶ Training of contractors through on-board process to ensure alignment to Emeco Safety and Environmental Standards ̶ Ongoing implementation of Critical Control Verification Program ̶ Ongoing workforce education and training SAFETY Safety remains our key priority 2.1 1.9 3.2 2.8 3.4 0.0 0.0 0.3 0.0 0.0 FY21 FY22 FY23 FY24 FY25 TRIFR LTIFR EMECOGROUP.COM 7 FY25 BUSINESS HIGHLIGHTS Robust earnings growth, strong margin growth and cash generation - resilient business model EMECOGROUP.COM 8 Notes: 1. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-IFRS disclosure in the FY25 Results Presentation 2. Excludes discontinued underground contract mining services revenue 3. Operating free cash flow before growth capex 4. Return on capital calculated as LTM Operating EBIT over average capital employed 5. Net debt / Operating EBITDA (excludes supply chain funding) Operating NPAT1 Revenue2 22% 7% FY25 $84M FY25 $785M FY24 $69M FY24 $731M Operating EBITDA1 Operating EBITDA Margin1 7% 420bps FY25 $301M FY25 38% FY24 $281M FY24 34% Operating EBIT1 Operating EBIT Margin1 16% 330bps FY25 $146M FY25 19% FY24 $125M FY24 15% Operating Cash Flow1,3 ROC4 27% 190bps FY25 $114M FY25 17% FY24 $87M FY24 15% SEGMENT RESULTS Strong earnings growth across all segments EMECOGROUP.COM 9 OBJECTIVE 1 REVENUE EBIT EBITDA Revenue1 Operating EBIT2 Operating EBITDA2 9% 12% 6% FY25 $615M FY25 $181M FY25 $328M FY24 $565M FY24 $162M FY24 $310M Business Highlights Rental ▪ Revenue up 9%, driven by higher maintenance services and higher underground utilisation levels. ▪ Solid earnings growth, driven by cost savings and improved commercial contract terms on renewed contracts ▪ Major surface contract extensions secured with long-term customers Force ▪ Underground workshops now fully integrated with Force workshops ▪ Opportunities to grow earnings through growth of in-field and workshop capability and development of battery-powered fleet service capability ▪ Agreement with XCMG now secured to provide maintenance services External Revenue Operating EBIT1 Operating EBITDA1 2% $1.1M $0.4M FY25 $170M FY25 $8.3M FY25 $15.4M FY24 $166M FY24 $9.4M FY24 $15.8M Notes: 1. Excludes discontinued underground contract mining services revenue 2. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-IFRS disclosure in the FY25 Results Presentation 18% 10% 10% 10% 3% 3% 3% 3% 3% 4% 33% Customer 1 Customer 2 Customer 3 Customer 4 Customer 5 Customer 6 Customer 7 Customer 8 Customer 9 Customer 10 Other customers OUR SCALE AND COMPETITIVE ADVANTAGE Our mid-life rebuild model and onsite service capability, combined with our asset management and condition monitoring technologies are our competitive advantage. Delivered through our national footprint of workshops and field service units, Emeco provides industry leading, cost-effective rental services for our customers. v ~900 Employees ~850 Pieces of Equipment ~250 Projects ~200 Customers Mid-life Rebuild Capability Asset Management and Condition Monitoring Technology Australia’s largest provider of open cut and underground rental equipment and value- added services 850 fleet size Mining equipment maintenance and rebuild service provider - component and asset rebuild and fabrication 7 workshops across Australia c. 900 employees Rental Workshop 27% 27% 16% 19% 4% 7% Met Coal Gold Iron Ore Thermal Coal Copper Other Diversified Revenue Base Corporate Office Force Workshop EmecoRental Revenue by commodity Revenue by customer EMECOGROUP.COM 10 OUR COMPETITIVE ADVANTAGE EMECOGROUP.COM 11 ◼ Our scale means we can invest in the best technologies and asset management capability ◼ Our asset management capability and equipment monitoring technologies provide our customers with up-time certainty ◼ We set high equipment availability targets with our customers and support this with a national workshop footprint and on-site and field service capabilities ◼ Our national workshop footprint and field service capability provide our customers with a priority service ◼ Our second hand rebuild model helps us deliver cost-effective rental solutions for our customers ◼ Our extensive fleet range means we can deliver full fleet solutions with back up support and flexibility for expansion ◼ We guarantee the quality of our work ◼ This gives our customers confidence that we can deliver EMECOGROUP.COM BUSINESS PRIORITIES & OUTLOOK FY23 ROC Growth Capex Proc. Savings Labour Savings R&M Savings O/head Savings Contract Repricing FY25 ROC Impact FY25 Cost Savings Impact FY25 Contract Repricing Equip Util. Target ROC EMECOGROUP.COM TARGETING 20% ROC AND IMPROVED CASH GENERATION Good progress on our journey to deliver 20% ROC target, with key procurement, labour and cost initiatives delivered. 2H25 ROC run-rating at 18% Return on Capital1 drivers % 52 87 114 120 140 Free Cash Flow $million (before growth capex)2 FY23 FCF FY24 FCF FY25 FCF FCF @ Run- rate 18% ROC FCF @ Target 20% ROC Notes: 1. ROC – LTM Operating EBIT / AverageCapital Employed. 2. FCF before growth capex Delivered FY26/FY27 20% 13 17% 13% FY26 PRIORITIES & OUTLOOK Core Business ▪ Focus on business development to drive increased utilisation ▪ Continued focus on disciplined capital expenditure and cost efficiencies to drive returns and cash flow ▪ Build market share through new projects from our pipeline of opportunities ▪ Expand and grow fully maintained projects where our service offering is differentiated ▪ Pursue opportunities to expand the Force service offering, including XCMG partnership to enhance capabilities to service battery-powered fleet ▪ Refinancing of the Group’s debt facilities in 1H26 Technology ▪ Complete implementation of our ERP programme ▪ Digitisation of operational technology to expand our competitive advantage ESG ▪ Complete roadmap for FY26 sustainability reporting and set targets for carbon emissions reduction ▪ Continued focus on improving health and safety Business Priorities Mine Production Outlook 0 200 400 600 800 1000 1200 Gold (T) Iron Ore (WMT) Met Coal (Mt) Thermal Coal (Mt) 2024 2025F 2026F 2027F FY26 Outlook Prices Outlook Source: Department of Industry Science and Resources Quarterly Report – June 2025 0 0 US$/t A$/oz 300 6000 250 5000 200 4000 150 3000 100 2000 50 1000 2024 2025F 2026F 2027F Met Coal (lhs) Iron Ore (lhs) Thermal Coal (lhs) Gold (rhs) EMECOGROUP.COM 14 ▪ FY26 will focus on improving the financial metrics of our business with a particular focus on return on capital, margins, cashflow and leverage, whilst increasing our fleet utilisation, building our competitive advantage by further reducing our cost, improving our operational performance and enhancing the digitisation of our business ▪ In FY26, Emeco expects: ̶ Moderate earnings growth, significant free cash flow and substantial deleveraging ̶ SIB capex to be circa $170 - 175M ($155 – 160M net of asset disposals). Nil growth capex ̶ Depreciation to be circa $160 – 165M ̶ ERP spend to be in order of $6M Thank You Investor enquiries: Theresa Mlikota Chief Financial Officer Investor.relations@emecogroup.com emecogroup.com EMECOGROUP.COM