EHL FY26 Results Presentation
Released
Released
Announcement PDF
FY26 Results Presentation
2026
ASX: EHL
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 FY26 Annual Report for the year ended 30 June 2026. 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.
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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.
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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, Operating NPAT, Operating Cash Flow, Adjusted
Operating Cash Flow, 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.
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
IMPORTANT NOTICES AND DISCLAIMERS
2
S E C T I O N 0 1
EARNINGS GROWTH AND
STRONG CASH GENERATION
S AF E T Y AN D E N V I R O N M E N T AL P E R F O R M AN C E
Safety and sustainability are our top priority
Total Recordable & Lost-Time Injury Frequency Rate
Per million hours worked
3.2
2.8
3.4
2.3
0.3
0.0 0.0
0.4
FY23 FY24 FY25 FY26
TRIFR LTIFR
Improved Total Recordable Injury Frequency Rate
(TRIFR) has decreased to 2.3 as at 30 June 2026
(3.4 as at 30 June 2025).
Lost Time Injury Frequency Rate (LTIFR) rose to
0.4 after an incident in the second half of FY26.
2.3
0.4
Low operational GHG emissions of 4,555 tCO2e
and long-term commitment of net zero emissions
by 2050.
Low
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 4
Notes:
1. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-IFRS disclosure.
2. Operating free cash flow before growth capex and adjusted for sale and leaseback and timing of interest payments and new debt facility establishment costs. Refer to slide 16.
3. Return on capital calculated as Operating EBIT over average capital employed.
4. Net debt / Operating EBITDA (excludes supply chain funding).
Revenue
$792.8M
Up 1% vs FY25
Operating EBIT1
$148.0M
Up 2% vs FY25
Operating NPAT1
$89.0M
Up 5% vs FY25
Operating EBIT Margin1
18.7%
Up 10 bps vs FY25
Adjusted Operating Free Cash Flow1,2
$114.5M
Stable vs FY25
Return on Capital3
16.9%
Up 30 bps vs FY25
Earnings per share (EPS)
14.8 cents
Up 2% vs FY25
Leverage4
0.43x
Decrease of 0.22x vs FY25
F Y 2 6 H I G H L I G H T S
Earnings growth, strong cash generation, further deleveraging
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 5
Long-term returns, strong balance sheet and cash flow
Net leverage (x)1,4
1.10x
1.00x
0.65x
0.43x
FY23 FY24 FY25 FY26
Return on capital (%)1,2
13.2
14.9
16.6 16.9
FY23 FY24 FY25 FY26
Operating Free Cash Flow ($M)1,3
52
87
114 115
FY23 FY24 FY25 FY26
Increased 370 bps
Four-year improvement in ROC1,2
>$350M over 4yrs
Cumulative four-year Operating Free Cash Flow1,3
60% improvement
Four-year decrease in leverage ratio 1,4
Notes:
1. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-
IFRS disclosure.
2. Return on capital calculated as Operating EBIT over average capital employed.
3. Operating free cash flow before growth capex and FY26 Operating free cash flow adjusted for sale and
leaseback and timing of interest payments and new debt facility establishment costs. Refer to slide 16.
4. Net debt / Operating EBITDA (excludes supply chain funding).
R E T U R N S AN D C AS H F L O W G E N E R AT I O N
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 6
Buy-back represents high-return use of balance sheet capacity
Operating free cash flow1,2
(cents/share)
10.1
16.8
22.0 22.1
FY23 FY24 FY25 FY26
Earnings per share
(cents/share)
8.0
10.2
14.5 14.8
FY23 FY24 FY25 FY26
Notes:
1. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-IFRS disclosure.
2. Operating free cash flow before growth capex and FY26 operating free cash flow adjusted for sale and leaseback and timing of
interest payments and new debt facility establishment costs. Refer to slide 16.
3. Calculated based on closing market cap as at 30 June 2026 and adjusted operating free cash flow.
4. As announced on 20 August 2026.
S H AR E H O L D E R V AL U E
• Strong earnings and cash generation
underpinning strong shareholder
returns
• Operating free cash flow yield1,2,3 of
23% at 30 June 2026
• Board approved on-market share
buy-back of up to 10% of shares on
issue4
1.12
1.21
1.36
1.51
FY23 FY24 FY25 FY26
Net Tangible Assets
($/share)
7
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
34 39 49
67
125
153
159
146
13.2%
14.9%
16.6%
16.9%
FY23 FY24 FY25 FY26
Maintenance Rental Return on Capital
Notes:
1. Gross revenue includes internal and external revenue before intercompany eliminations.
2. Gross operating EBIT includes internal and external earnings before intercompany eliminations and excludes
corporate costs.
3. Return on capital calculated as Operating EBIT over average capital employed.
4. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-
IFRS disclosure.
5. FY23 and FY24 Gross Revenue and Gross EBIT includes discontinued contract mining.
6. For reconciliation of segment results to maintenance and rental split refer to Appendices Reconciliations:
Maintenance Earnings.
Gross EBIT ($m)2,6 and Return on Capital3 (%)
R E N T AL T O F U L L Y M AI N T AI N E D
Maintenance and technology offering – key differentiator and growth
driver
Gross Revenue (%)1,4,5,6
34%
40%
45%
50%
66%
60%
55%
50%
FY23 FY24 FY25 FY26
Maintenance Rental
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
COMPANY OVERVIEW:
RENTAL TO FULLY MAINTAINED
Maintenance
Technology
Rental
=
Higher Returns and Value
Creation
for customers and shareholders
8
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
O U T L O O K
A resilient, cash-generative business positioned for growth
EARNINGS
GROWTH
UTILISE OPERATIONAL
LEVERAGE
PLATFORM
FOR GROWTH
EXPAND
EARNINGS BASE
Notes:
1. Return on capital calculated as Last Twelve Months (LTM) Operating EBIT over average capital employed.
New project pipeline will drive increased utilisation forecast to ~90% for
surface and ~80% for underground by the end of FY27
Maintenance and technology offering – key differentiator and growth driver
Strong balance sheet creates platform to:
- Pursue growth opportunities including sector consolidation
- Invest free cash in share buy-back
FY27
Expect utilisation run rate to deliver
earnings growth in line with our 20% ROC
target.
Expand maintenance service platform to drive
growth and diversification
Pursue opportunistic and attractive growth
opportunities including sector consolidation
FY28
In FY27 Emeco expects:
Earnings in line with FY26 results, with a second half weighting
Continued strong free cash flow and further deleveraging
Capex is forecast to be circa $155 – $165 million net of asset disposals.
ERP spend is forecast to be in the order of $5 million
Depreciation is forecast to be circa $145 – $150 million
FY27 FY28
9
S E C T I O N 0 2
OPERATING SEGMENTS
Notes:
1.Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-
IFRS disclosure.
Revenue
$637M
Up 4%
(FY25: $615m)
Operating EBITDA1
$321M
Down 2%
(FY25: $328m)
Operating EBIT1
$184M
Up 2%
(FY25: $181m)
Financial Highlights
• Revenue growth of 4% driven by on-site maintenance (up 44%), partly offset by
lower 2H fleet utilisation
• Margins and returns remain broadly stable
Operational Highlights
• Gross average utilisation of 82% for surface and 67% for underground
• Invoiced hours impacted in 2H by prolonged wet weather and geopolitical
disruptions causing deferred timing of customer fleet redeployments
Outlook
• New project pipeline will drive increased utilisation forecast to ~90% for surface
and ~80% for underground by the end of FY27
• Maintenance and technology offering – key differentiator and growth driver
• Expected earnings growth delivering 20% ROC target in FY28
• Expand use of digitisation and AI tools to improve quality and efficiency
R E N T AL O V E R V I E W
Resilient earnings with utilisation improving
480
employees
134
projects
$888M
WDV
840
fleet size
Australia’s largest provider of mining rental
equipment and value-added services
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 11
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
FY21 FY22 FY23 FY24 FY25 1H26 2H26 1H27f 2H27f
Normal range: 83 to 88%
Recovery in FY27
EXTERNAL FACTORS TEMPORARILY IMPACTING UTILISATION
1
Wet weather
Prolonged QLD wet season reduced site activity and operational equipment
utilisation.
2
Supply chain challenges and fuel price uncertainty
Affected the timing of customer operational decisions, delaying fleet
redeployment.
Fleet utilisation key to earnings growth and 20% ROC
AVERAGE SURFACE EQUIPMENT UTILISATION
R E N T AL O V E R V I E W : F L E E T S T AT I S T I C S
$826m
$62m
Surface
Underground
Fleet
Portfolio by Equipment Type (WDV1)
$782m
$828m
$848m
$888m
13.2%
14.9%
16.6% 16.9%
FY23 FY24 FY25 FY26
PP&E ROC
Increasing returns on a growing asset base1,2
Notes:
1.Calculated based on Written Down Value (WDV) of equipment and includes right of use assets.
2.Return on capital calculated as Operating EBIT over average capital employed.
Expected to close at
~90% - key to hitting
20% ROC target
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 12
Notes:
1.Gross Revenue, Gross Operating EBITDA and Gross EBIT represent the total activities of the Force business, before
intercompany eliminations and excludes corporate costs.
2.Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-IFRS
disclosure.
13
Gross Revenue1
$277M
Up 1%
(FY25: $273m)
Gross Operating
EBITDA1,2
$36M
Up 4%
(FY25: $34m)
F O R C E O V E RV I E W
Force – key enabler of growth
Force provides the equipment and component rebuild capability that underpins our growth in maintained rental
projects and in-field customer maintenance services
Gross Operating
EBIT1,2
$29M
Up 6%
(FY25: $27m) 380
employees
143
machine
rebuilds
5
rebuild
workshops
2
component
workshops
across Australia
Australia’s leading mining equipment
maintenance and rebuild service provider
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
Financial Highlights
• Gross operating EBIT up 6% underpinned by continued cost controls
Operational Highlights
• 143 machine rebuilds (FY25:137) and 983 component rebuilds (FY25: 996)
• Field service hours up 37% - strong demand from fully maintained projects and
customer sites
• Growth in east coast retail work
Outlook
• Growth in battery electric vehicle maintenance with Fortescue/XCMG program to
commence delivery in FY27
• Well placed to support Chinese OEMs growth within the Australian mining industry
• Growth of in-field maintenance supporting fully maintained projects and customer
operations
• Expand use of digitisation and AI tools to improve quality and efficiency
S E C T I O N 0 5
S E C T I O N 0 3
FINANCIAL RESULTS
OBJECTIVE 1
Revenue EBIT
$m
Unless otherwise stated
FY25 1H26 2H26 FY26 Change
Revenue 785.4 420.8 372.0 792.8 1%
Operating EBITDA1 301.1 155.8 136.7 292.5 (3%)
Operating EBITDA margin1 38.3% 37.0% 36.7% 36.9% (140 bps)
Operating EBIT1 145.7 77.0 71.0 148.0 2%
Operating EBIT margin1 18.6% 18.3% 19.1% 18.7% 10 bps
Operating NPAT1,2 84.5 46.5 42.5 89.0 5%
Return on Capital (ROC)3 16.6% 17.8% 16.9% 30 bps
Overview
Revenue improved driven by growth in maintenance services partially offset by lower than anticipated utilisation levels in
surface fleet in the second half.
Operating EBIT increased reflecting revenue growth, carefully controlled costs and lower depreciation.
Operating EBITDA and Operating EBITDA margin were down on FY25, driven mainly by the composition of earnings,
with a higher contribution from low-capital maintenance services.
Return on capital up by 30 bps, driven by higher Operating EBIT and a well-controlled capital base.
Notes:
1. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-IFRS
disclosure.
2. Operating NPAT assumes 30% notional tax expense on non-operating items.
3. Return on capital calculated as Operating EBIT over average capital employed.
15
O P E R AT I N G P R O F I T AN D L O S S
Improvements across key metrics
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
Revenue EBIT
292.5
18.5
( 4.5 )
( 30.2 )
( 148.7 )
127.6
( 90.0 )
( 23.3 ) ( 1.2 ) ( 1.0 )
( 14.1 )
Operating
EBITDA
Working
capital
Component
inventory
Finance
costs
Sustaining
capex
Operating free
cash flow
Funding
repayment
Lease and
other
repayments
Non-operating
(ERP)
Purchase of
Shares
Net Free
Cash Flow
0
50
100
150
200
250
300
350
Cash Flow Waterfall ($m)
Notes:
1. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to
non-IFRS disclosure.
Overview
Operating Free Cash Flow1 of $127.6 million
Adjusted by $13.2 million to $114.5 million
for sale and leaseback and timing of
interest payments and new debt facility
establishment costs.
Strong cash conversion of 108%.
Net sustaining capex of $153.2 million, 106% of
depreciation.
Non-operating costs includes ERP expense of
$8.6 million, restructuring costs of $1.3 million
and defence costs of $3.5 million.
No income tax was paid due to the Group’s
carried forward tax loss position. Tax loss
position at 30 June 2026 $58.0 million.
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
C AS H F L O W
Strong cash flow generation continues
Operating free cash flow1 $127.6m
Adjusted for sale and leaseback
and timing of interest payments
($13.2m)
‘Adjusted’ Operating Free Cash Flow $114.5m
Operating
EBITDA1
Working
capital
Component
inventory
Finance costs Sustaining
capex
Operating
free cash flow
Funding
repayment
Lease and
other
repayments
Non-
operating
(ERP)
Purchase of
shares
Net Cash
Flow
16
Revenue EBIT
$m 30 June 2025 30 June 2026
Plant & equipment 803.9 814.3
Right-of-use asset 79.6 107.0
Intangibles 8.2 8.1
Fixed asset and intangibles 891.7 929.4
Receivables 138.7 122.2
WIP, inventory, prepayments, other 90.2 133.3
Payables, provisions & taxes (210.9) (265.6)
Working capital 18.0 (10.1)
Cash 126.4 125.4
Interest bearing liabilities (250.0) (160.0)
Leases and other (71.3) (92.5)
Net debt (194.9) (127.1)
Equity 714.8 792.3
Net leverage1 0.65x 0.43x
Overview
Strong balance sheet with industry leading low net leverage1 of 0.43x,
maintaining strength to provide flexibility for growth and shareholder
returns.
Board approved on-market share buy-back of up to 10% of shares on
issue2 - represents high-return use of balance sheet capacity
Net debt reduction of $67.8 million
Good cash collections, resulted in reduced receivables
High-quality customers with 95% fully insured
Fixed assets and intangibles increased following lower than anticipated
utilisation levels which impacted depreciation.
Strong liquidity – circa $315 million including $125 million in cash
Moody’s credit rating Ba3
Notes:
1. Net Debt / Operating EBITDA (excludes supply chain funding.
2. Board approved on 19 August 2026.
Numbers may not add due to rounding.
17
B AL AN C E S H E E T
Strong balance sheet - capacity for growth and buy-back
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
Revenue EBIT
$m 30 June
2025
30 June
2026
Interest-bearing debt – Secured Notes (AUD) 250.0 -
Interest-bearing debt – Revolving Syndicated Facility - 160.0
Lease liabilities and other financing 71.3 92.5
Total debt 321.3 252.5
Cash and equivalents 126.4 125.4
Net debt 194.9 127.1
Liquidity (incl. undrawn committed facilities and cash) 221.4 315.4
Net leverage (Net Debt / Op. EBITDA)1,3
Interest cover (Op. EBITDA / Net cash interest)1
0.65x
12.1x
0.43x
9.7x
Interest cover (Op. EBITDA / Adj net cash interest)1,3 12.1x 13.7x
0
50
100
150
200
250
<12 Months 2 Year 3 Year 4+ Year
Leasing Syndicated Facility
Drawn debt maturity at 30 June 2026
$ million
18
D E B T M AT U R I T Y P R O F I L E AN D L I Q U I D I T Y
Refinancing strengthened liquidity position, with new 5-year facility
Overview
Refinanced in late 2025 with revolving syndicated debt facility: $350 million and $5 million ancillary guarantee maturing in December 2030, $190 million undrawn
at 30 June 2026.
Liquidity position has been significantly strengthened with ~$315 million, including cash and undrawn revolving credit facilities.
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
Notes:
1. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-
IFRS disclosure.
2. Adjusted net cash interest excludes new debt facility establishment costs and brought forward interest payments.
Refer to slide 16.
3. Net debt / Operating EBITDA (excludes supply chain funding).
FY24
ROC
FY25
ROC
FY26
ROC
Equipment
Utilisation &
Fleet
Optimisation
ROC Growth in
maintenance
services
Target
Return on Capital1 drivers %
Notes:
1. Return on capital calculated as Operating EBIT over average capital employed.
2. Operating free cash flow before growth capex and adjusted for sale and leaseback and timing of interest
payments and new debt facility establishment costs. Refer to slide 16.
16.6%
+20%
19
16.9%
14.9%
87
114
115
120
140
Operating Free Cash Flow $million
(before growth capex)2
FY24
FCF
FY25
FCF
FY26
FCF
Projected
FCF
@ 18%
ROC
Projected
FCF
@
Target
20%
ROC
T AR G E T I N G 2 0 % R O C AN D I M P R O V E D C AS H G E N E R AT I O N
On our journey to deliver 20% ROC target
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
20%
S E C T I O N 0 4
SUMMARY
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
We expect our utilisation
run rate to deliver earnings
growth in line with our 20%
ROC target
S U M M AR Y
Strong platform to drive growth
Our new project pipeline will
drive increased utilisation
forecast to ~90% for surface
and ~80% for underground by
the end of FY27
Notes:
1. Board approved on 19 August 2026.
2. Return on capital calculated as Operating EBIT over average capital employed.
Resilience of our business model evidenced in earnings growth, strong cash generation, further
deleveraging
Board approved on-market share buy-back of up to 10% of shares on issue1 - represents high-
return use of balance sheet capacity
New project pipeline will drive increased utilisation forecast to ~90% for surface and ~80% for
underground by the end of FY27
Maintenance and technology offering – key differentiator and growth driver
Earnings in line with FY26 results, with a second half weighting
Continued strong free cash flow and further deleveraging
Strong balance sheet creates platform to pursue consolidation and growth opportunities and
deliver returns to shareholders
FY27
Expect utilisation run rate to deliver earnings growth in line with our 20% ROC target.
Expand maintenance service platform to drive growth and diversification
Pursue opportunistic and attractive growth opportunities including sector consolidation
FY28
FY27
FY27
FY27
FY26
FY26
FY27
FY28
21
A P P E N D I C E S
ADDITIONAL CONTENT
Emeco’s strategic pillars
Emeco’s strategic pillars ensure a sustainable and resilient business and the creation of long-term value for shareholders
OBJECTIVE 1 EBITDA
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 service
offering, customer, project, commodity
and region
Maintain flexibility to service a broad
range of customers and sectors via a
highly diversified fleet portfolio and
maintenance service offering
Achieve ESG priorities and support
the energy transition
Target net debt / EBITDA range
between 0.5 - 1.0x to provide flexibility
Disciplined capital allocation to
maintain free cash flow and target 20%
ROC1
Retain flexibility to reinvest in the
business, pursue inorganic growth
or return capital to shareholders
02
Grow a balanced
and diversified
portfolio
03
Deliver strong
shareholder returns
through disciplined
capital management
23
AP P E N D I C E S – AD D I T I O N AL C O N T E N T
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
Notes:
1. Return on capital calculated as Operating EBIT over average capital employed.
Unadjusted
for $13.2m
sale and
leaseback
and timing
of interest
payments
Revenue ($m) 1 Operating EBITDA ($m) 2 Operating EBIT ($m) 2 Operating NPAT ($m) 2
Notes:
1. Excludes discontinued underground contract mining services revenue.
2. Operating financial metrics are non-IFRS measures. Refer to Appendix slide Reconciliations - Statutory to non-IFRS disclosure
3. Net debt / Operating EBITDA (excludes supply chain funding).
4. Operating free cash flow before growth capex.
5. Return on capital calculated as Operating EBIT over average capital employed.
309
355 348
383 387 398 421
372
1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26
115
137 137 143 146 155 155
138
1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26
41
64 61 65 68
77 77 71
1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26
20
39
34 35
39
46 46 43
1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26
1.16 1.10 1.06 1.00
0.84
0.65
0.46 0.43
1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26
8
44 40
47 49
65 67 61
1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26
13 13
15 15 16 17 18 17
1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26
24
27%
31% 32%
37% 38% 39% 37% 37%
9%
14% 14%
17% 18% 19% 18% 19%
1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26
EBITDA Margin EBIT Margin
Net leverage (x) 3 Op Free cash flow ($m) 4 Operating EBITDA & EBIT Margin Return On Capital (%) 5
AP P E N D I C E S – AD D I T I O N AL C O N T E N T
Performance history – half on half
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
25
33%
30%
9%
19%
4% 5%
23%
13%
8%
6%
5%
5%
4%
3%
3%
3%
27%
18%
10%
10%
10%
5%
3%
3%
3%
3%
3%
32%
Customer 1
Customer 2
Customer 3
Customer 4
Customer 5
Customer 6
Customer 7
Customer 8
Customer 9
Customer 10
Other customers
47%
31%
19%
4%
Revenue by commodity1 Revenue by geography1 Revenue by service type2 Revenue by Top 10 customer1
50%
30%
20%
55%
31%
14%
Rental Workshops On-Site Maintenance
AP P E N D I C E S – AD D I T I O N AL C O N T E N T
Revenue analysis
27%
27%
16%
19%
4%
7%
Gold Met Coal
Iron Ore Thermal Coal
Copper Other
51%
31%
14%
4%
WA QLD NSW SA
FY26
FY25
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
1. Calculated based on reported external revenue.
2. Calculated based on FY26 gross revenue which includes internal and external revenue.
Note: Figures may not add due to rounding.
Open-cut fleet Type Count
Trucks 376
Dozers 167
Loaders 75
Graders 48
Excavators 48
Ancillary 9
Total 723
Underground fleet Type Count
LHD Loaders 40
Trucks 26
Jumbo Drills &
Cable Bolters
16
Production Drills 5
Charge Unit 8
Other 22
Total 117
1. As at 30 June 2026
AP P E N D I C E S – AD D I T I O N AL C O N T E N T
Fleet equipment breakdown
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 26
A P P E N D I C E S
COMPANY AND
MARKET OVERVIEW
C O M P AN Y AN D M AR K E T O V E R V I E W
Australia's leading mining rental & maintenance service provider
Equipment rental Fleet maintenance Equipment rebuilds Asset management AI/Operational technology
33%
30%
9%
4%
19%
5%
Gold
Met Coal
Iron Ore
Copper
Thermal coal
Other
Diversified across commodities and blue-chip miners
Gold and metallurgical coal anchor a balanced exposure
National footprint across major mining regions
Fleet redeployable across regions as demand shifts
Over 50 years of heavy equipment expertise
Deep operating track record and customer relationships
Revenue by commodity1
1. Calculated based on FY26 reported external revenue. EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 28
O U R V AL U E P R O P O S I T I O N – H O W W E W I N
End-to-end rental and maintenance, built for long-term partnerships
Heavy equipment rental
• Australia's largest heavy
equipment rental fleet
• Guaranteed availability
and reliability
• High-performance
modern assets
Asset management & monitoring
• Technology-enabled condition
monitoring
• Predictive maintenance and real-
time data
• Drives uptime, cost control,
availability and reliability
On-site and field maintenance
• Full on-site maintenance crews
• Field service diagnostic specialists
• Servicing both Emeco and customer-owned
fleet
• Allowing customers to
focus on production
Workshops, rebuilds
and logistics
• Seven workshops in
all key mining
regions
• Component rebuilds
and distribution
• Capital-light,
recurring earnings
Emeco Rental Force Workshop
Corporate Office
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026 29
Providing Integrated Service Solutions Enhancing Value for Clients Delivering Longer-Term Contracts
EMECO HOLDINGS LIMITED | FY26 RESULTS PRESENTATION | 20 AUGUST 2026
C O M P AN Y AN D M AR K E T O V E R V I E W
Customers and the benefits of renting
95%
4%1%
Blue-chip and Insured
Partially Insured
Uninsured
1. Based on FY26 reported external revenue.
2. Based on FY26 gross revenue which includes internal and external revenue.
50%
30%
20%
Rental
Workshops
On-Site Maintenance
Scale and national workshop footprint
Full maintenance support, largest skilled workforce
Reliability and availability guarantees
Technology-enabled decision support
Equipment and component rebuild capability
Cost savings through our mid-life rebuild model
Strong customer focus and solution-driven business
culture
16%
84%
Contractors
Miners
Customer Breakdown1
Revenue
Revenue by Service Type2
Gross Revenue
Quality of Customer Type1
Insured value
Why customers rent from Emeco
versus our competitors
Rental value proposition for the
mining industry
Conserve capital
For mine owners rental provides:
flexibility as mine design and scopes change
increased capacity
de-risking on fleet performance
For contractors rental provides capital risk management
30
0
50
100
150
200
250
300
2026
2027
2028
2029
2030
2031
Global Supply
Global Demand
0
50
100
150
200
250
2026
2027
2028
2029
2030
2031
Global Supply
Global Demand
0
500
1000
1500
2000
2500
3000
3500
4000
4500
2026
2027
2028
2029
2030
2031
Global Supply
Global Demand
Gold Metallurgical Coal Thermal Coal
Record prices, active WA expansion with
strong production outlook
Moderate growth in metallurgical coal
production outlook
Stable production outlook
Demand supported by energy security
priorities
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