Monadelphous Group Limited

Good day and thank you for standing by. Welcome to Monodelpha's 2026 full-year results presentation. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star, one, one again. Please be advised that today's conference call is being recorded. I would now like to hand the conference over to your first speaker today, Christy Glasgow, Company Secretary. Please go ahead.

Hello and welcome to the MonoDelta's 2026 Fully Results Investor and Analyst Briefing. I'd like to begin by acknowledging the traditional owners of the lands on which we are joining you from today in Perth, Beirut, the Whadjuk people of the Noongar Nation and the traditional owners of country and her respect to elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples. Presenting from Perth are Monad Alpha's Managing Director, Lauren Bebich, and Chief Financial Officer, Phil Truman, who are joined in the room by our Chair, Rob Belletri. Throughout this presentation, the speakers will guide you on when to click through to the next slide. The structure of this morning's presentation will be similar to previous results presentations, with some further detail provided as appendices. Copies of today's presentation and associated materials are available on our website at monadalpha.com.au. I will now hand over to our first presenter today, Zoran Bebic, who will start on slide two.

Zoran Bebic Thanks, Christy, and welcome to our 2026 four-year results briefing. Today, Kim and I will present our financial and operational performance for the financial year ended 30 June 2026, as well as our outlook. We will then answer any questions you may have. I'll begin with our group performance and highlights on slide three. Monad Office achieved the record revenue for FY26 of $2.98 billion, a 31% increase on the previous year, with strong operating conditions experienced across all sectors. Activity levels were supported by the record level of work secured last year, together with more than $2.7 billion in new contracts and extensions awarded since the beginning of the 2026 financial year. Our engineering construction division delivered revenue of $1.37 billion, up around 48% on the prior year, with significant project activity experienced in the iron ore sector. The result also reflects the success of our service expansion and integrated services delivery strategy, with growth in the Melcore Seville business and Interforges fabrication services, as well as the acquisition of Kerman Contracting. Zimbiron, our renewable energy business, also experienced higher levels of activity with the delivery of larger wind and battery energy storage projects. Our maintenance and industrial services division reported record annual revenue of $1.61 billion, a 20% increase on last year, reflecting high levels of turnaround activity and project work in the energy sector, along with increased maintenance services for iron ore customers. Our strong operational performance drove a significant lift in earnings for the company. Earnings before interest, tax, depreciation and amortisation was $226 million, an increase of 43% compared to the prior year, delivering an EBITDA margin of 7.58%. Net profit after tax was $127.3 million, up 52% compared to the prior financial year, delivering earnings per share of $127.6. The Board declared a final dividend of $0.59 per share, taking the full-year fully-framed dividend to $0.108. We ended the year with a cash balance of $293.6 million and cash flow from operations was $245 million. who will talk more about this later. During the year we progressed our markets and growth strategy with several strategic acquisitions that broadened our service offering and delivery capability. In November 2025 we acquired Kerman Contracting, a West Australian based design infrastructure business specialising in non-process infrastructure. Kerman brings a long established reputation for the successful delivery of site infrastructure and accommodation bulk storage and materials handling facilities across a range of sectors. Post year end, Kerman secured a contract for the design and construction of non-process infrastructure associated with Rio Tinto's Brockman Sincline 1 project valued at approximately $165 million. Late last year we also acquired Australian Power Industry Partners , a business based is a high-voltage electrical contractor servicing utilities, resources and renewable energy customers across multiple states of Australia. This expands our high-voltage electrical service offering, following the acquisition of Perth-based high-energy service, which completed on 1 July 2025. Moving now to slide four. As mentioned, Monodelphus has been awarded more than $2.7 billion in new work since 1 July 2025. We have entered the new financial year, FY27, with a strong pipeline of committed work, an expanded customer base and a broadening capability aligned with long-term growth prospects. Strong demand for our services continued from WA's iron ore sector. and we secured over $1.6 billion of construction and maintenance contracts during the period. In construction, awards included a multidisciplinary contract with BHP associated with the Jimilbar train loadout replacement project, a car dumper replacement contract with BHP valued at approximately $175 million and a contract with Rio Tinto worth approximately $250 million for the Brockmans Incline 1 iron ore development. Subsequent to year end, we were also awarded a major construction contract valued at around $200 million associated with the Port Thief Bottlenecking Project 2 located at BHP's Nelson Point facility in Port Hedland. We secured several long-term services contracts with iron ore customers in the Pilbara. Awards included three contracts with Rio Tinto including a five-year contract valued at approximately $300 million for fixed plant and shutdown maintenance services, a three-year contract for multidisciplinary sustaining capital works and a new five-year panel award to provide mobile crane and lifting services. We were also awarded a three-year contract to continue delivering maintenance services across Port Askew's Pilbara operations and secured extensions to our BHP maintenance and panel agreements. In the energy sector, we expanded our customer base with the award of a four-year contract with BW Offshore to provide services at the BW Opal FPSO located offshore from Darwin. We also secured hookup and commissioning work for Shell's Crux platform, which forms part of the long-term backfill to Preview. And a large amount of work was secured with Santos in Papua New Guinea. As we continue to grow our market position supporting Australia's energy transition, a major highlight was the award of a $380 million construction contract with CS Energy for the Brigalow Peaking Power Plant near Chinchilla in Queensland. We also continue to support water skews decarbonisation activities, securing several BESS and WIN projects. Zimbabwe further strengthens its market position in the renewable energy sector, with the award of a contract to deliver the Bennett's Creek Best in the Latrobe Valley, Victoria. Over the next few slides, we will cover the key areas of focus within our sustainability framework, being people, safety and wellbeing, diversity and inclusion, community and environment. Moving now to slide five, people. Our total workforce at 30 June 2026, including subcontractors, totalled a record 9,365 people, reflecting sustained high levels of activity across the business. During the year, around 430 graduates, undergraduates, apprentices and trainees participated in our early career programs. and nearly 200 of our emerging and senior leaders engaged in programs focused on networking and leadership development skills. Our commitment to retaining and developing our people supported strong key talent retention of 97%. Our registered training organisation in Vibra Lake WA continued to deliver a significant number of workforce development activities for trades personnel including high risk work licensing, nationally accredited training and verification of competency assessments. Let's now look at safety and wellbeing on slide 6. We saw a solid improvement in safety with our total recordable injury frequency rate reducing by 19% to 3.57 incidents per million hours worked. following successful campaigns to ensure the safety and wellbeing of our people through a period of rapid growth. We also achieved a historically low high potential incident frequency rate, reflecting our continued focus on preventing serious incidents and managing fatal risks. Guided by our principle, the Safe Way is the only way, we strengthened several key safety programs across the business. This included targeted initiatives focused on frontline engagement critical risk controls, effectiveness of high risk work competency assessments and the safe interaction between forklift operations and pedestrians. We continued to leverage technology to improve safety outcomes. During the year we further embedded driver fatigue and distraction monitoring systems, expanded the use of drones for high risk inspections and progressed the rollout of AI enabled pedestrian avoidance systems on mobile plant. We also developed crane overload monitoring technology to help further reduce operational risk. We enhanced our psychosocial risk management and mental wellbeing programs through further training, awareness initiatives and ongoing access to services that support employees' physical, mental and emotional wellbeing. Pleasingly, these efforts were recognised externally with Monodelphus receiving the 2025 ARIA Mental Health Wellbeing Award for our Wellbeing Supporter Programme, while both Monodelphus and Elevro were recognised as finalists across a number of Workplace Health, Safety and Innovation Awards. Moving now to Diversity and Inclusion, Community and Environment on slide 7. We remain focused on creating a positive legacy in the regions where we operate through our commitment to diversity and inclusion, community investment and our long-term environmental objectives. During the year, we launched our new Stretch Reconciliation Action Plan, 2026-2029, building on the success of our previous plan where we exceeded all commitments. The new plan sets our clear priorities to strengthen cultural understanding, expand development and career pathways, deepen engagement and retention initiatives and further enhance collaboration with Indigenous business partners. We continue to support meaningful employment and development opportunities for Aboriginal and Torres Strait Islander peoples through apprenticeships, and our Indigenous Pathways Program with Rio Tinto, which was extended for a further five years. We also significantly increased our engagement with Indigenous suppliers, spending approximately $40 million, up 42% on the previous period. Support the attraction, development and recognition of women in our industry, while also supporting broader STEM education, leadership, development and gender equity initiatives across the resources sector. To help strengthen the communities where our people live and work, we expanded our community grant program from three to eight regions and contributed to around 130 community organisations across 19 locations. From an environmental perspective, we advanced initiatives associated with our net zero by 2050 goal. This included installing solar to more of our operational facilities, expanding our low emissions fleet, including large hybrid cranes and electric forklifts, and introducing battery energy storage solutions to support future development across our operations deployment. We also embedded our greenhouse gas reporting solution, prepared our first sustainability report under the new mandatory climate disclosure standard, and progressed the development of scope for emissions methodology and data collation in preparation for reporting in FY27. Turning now to our engineering construction divisional highlights on slide 8. The division delivered revenue of $1.37 billion, up 48% on the prior period. Demand for construction services was strong across the iron ore and energy sectors. with a greater revenue contribution from projects with integrated services. Pleasingly, the Division secured more than $1.6 billion in new contracts since 1 July 2025, including several major multi-disciplinary projects. Across the Pilbara, we successfully delivered several packages of work for BHP, including the Big Car Dumper 3 renewal project and All Body 32. We also commenced work on another car dumper project at Finnegan Island and at Jimble Bar's Crane Loadout Replacement Project which showcases the breadth of our capabilities with involved Melcor and Interforge. We expanded our relationship with Rio Tinto securing a major contract at the Brockman Sincline 1 iron ore developer. The project incorporates a broad range of services including fabrication, supply, Detailed Concrete Networks, Structural, Mechanical, Piping and Electrical Instrumentation Works highlighting our ability to deliver integrated service solutions at scale. Shutdown services were delivered at Rio Tinto's Western Range project along with electrical and instrumentation services at the Parker Point Stockyard Sustaining Project. We also commenced providing mobile crane and lifting services under a new five-year panel agreement with Rio Tinto. In energy, we maintained strong levels of activity across several significant projects. Modification works continued at Woodside's Pluto LNG Train 1 facility near Karratha, while we completed critical electrical infrastructure works associated with Chevron Australia's JANCE IO compression project. We also continue to support FortisQ's decarbonisation ambitions through the award of several BESS and wind energy projects across Western Australia. As previously mentioned, we were awarded a significant contract with CES Energy for the Brigalow Peaking Power Plant in Queensland and completed works on the Fitzroy to Gladstone Pipeline project. Finally, Zimbiron experienced high levels of activity progressing works on Energy Australia's Maureen Bess and CES Energy's Lotus Creek Wind Farm. Our recently acquired high voltage electrical business, APIP, will also participate at Lotus Creek through the installation of overhead transmission infrastructure. Looking now at our Maintenance and Industrial Services Division on slide 9. The division reported its fifth consecutive record year of revenue, reaching $1.61 billion, an increase of 20% from a prior year. Demand was particularly strong across the energy and iron ore sectors, and the division secured around $1.1 billion in new contracts and extensions since the beginning of the financial year. In energy, significant demand continued from key customers including Impax, Woodside and Shell. High activity levels were experienced across INPEX's ICFEAS onshore and offshore LNG facilities. Maintenance, turnaround and brownfields project services continued at Woodside's onshore and offshore assets, including hookup and conditioning workscopes associated with the Scarborough development. We continued to support Shell with maintenance services at Prelude FLNG. and provided multidisciplinary hook-up and commissioning services for its crux platform. We also secured a multi-year services contract with Santos in Queensland and expanded our customer base, securing a new four-year maintenance contract on the BW Offshore FBSA facility, Opal. In iron ore, strong demand for maintenance and sustaining capital work continued across the Pilbara. We delivered significant volumes of maintenance, shutdown and project work for Rio Tinto, BHP and Fortescue, and secured a number of important multi-year contract awards and extensions during the year. Beyond Australia, we continued to grow our presence in Papua New Guinea, securing further work with Santos, as well as new customer Harmony Gold for construction services at the Hidden Valley Gold Mine in the Murubi Province. We also continue to deliver projects and maintenance services across a diverse range of customers in the resources, energy, utility and rail sectors. We will now move on to slide 10 and I'll hand over to Phil who will provide you with more detail on our financial performance.