Michael Hill International (MHJ) investor relations material

Opening remarks and agenda

• Rob Fyfe chaired his final AGM and is due to be succeeded by Claudia Batten on November 28, 2026; he cited continuity and confidence in CEO Jonathan Waecker.

• Karen Bozic and Mark Bayliss joined the Board on August 29, 2026, bringing retail transformation, operational, audit, risk and turnaround experience.

• AGM business included receiving FY26 reports, adopting the remuneration report, re-electing three directors and approving the Equity Incentive Plan.

Financial performance review

• FY26 record revenue was $655.7m, up 4.1% in constant currency and 1.9% in AUD; same-store sales rose 5.2% in constant currency and 3.0% in AUD.

• Gross margin held at 60.5%; cost of doing business fell 70 bps to 57.1% of revenue; comparable EBIT rose 57% to $24.0m and statutory NPAT was $10m.

• Net debt was $5.5m and inventory was $189.7m; inventory productivity increased 13%.

• In the first 16 weeks of FY27 through October 18, same-store sales grew 6.6% in constant currency and 2.3% in AUD; local-currency growth was 11.3% in Canada, 4.0% in Australia and 7.1% in New Zealand.

Board and executive committee updates

• Rob Fyfe said he stayed beyond his planned mid-2025 departure to support continuity and the CEO appointment; he expressed confidence in Jonathan Waecker and incoming Chair Claudia Batten.

• Tonia Zehrer joined as Chief Product Officer in January, Elodie Guillaumond joined as CFO in February, and Tanya Atkinson took new leadership at Bevilles.

• David Whittle, Karen Bozic and Mark Bayliss stood for re-election; the presentation cited a new leadership team driving the business reset.