The Warehouse Group (WHS) investor relations material

Opening remarks and agenda

• Meeting opened with housekeeping, board and executive introductions, and agenda covering financial review, strategy update, board elections, auditor fees, and Q&A.

• Both in-person and online participation enabled, with instructions for Q&A and voting provided.

• Leadership transitions addressed by Dame Joan Withers and John Journee.

Financial performance review

• FY25 sales held steady at NZD 3.1 billion, with 1.6% reported growth but flat on a 52-week same store basis; gross margin declined by 140 basis points, resulting in a net loss of NZD 2.8 million.

• Cost of doing business decreased to 32.2% of sales; capital expenditure reduced to NZD 12.4 million from NZD 39.0 million in FY24.

• No dividend declared for FY25 due to financial performance.

• Q1 FY26 sales up 0.9% to NZD 674.1 million, but margins remain under pressure.

Board and executive committee updates

• Mark Stirton appointed Group CEO in August, bringing significant retail and financial experience.

• Dame Joan Withers retiring as Chair in November 2025; John Journee to become Chair.

• Board changes include re-elections and new appointments; new executive appointments include CFO Stefan Knight and Chief Digital & Transformation Officer Shayne Tong.