Kingfisher (KGF) Investor Update summary

Strategic Positioning and Growth Initiatives

• Holds leading positions in key markets with a GBP 160 billion addressable market and strong structural growth drivers.

• Powered by scale, exclusive brands (44% of sales), advanced e-commerce, and retail media platforms.

• Trade customer focus and e-commerce penetration (19%) drive market share gains and resilience.

• Strategic initiatives in trade and e-commerce are being rolled out across all markets, replicating UK success in France and Poland.

• Medium-term priorities include store expansion, sales growth ahead of markets, and adjusted PBT growth.

Financial Performance and Capital Allocation

• Group sales declined 0.8% in constant currency; LFL sales down 1.7%, but gross margin rose 50bps to 37.3%.

• Adjusted PBT was GBP 528 million; free cash flow GBP 511 million, both in line or ahead of guidance.

• Net debt just over GBP 2 billion, net leverage at 1.6x EBITDA; GBP 453 million returned to shareholders via dividends and buybacks.

• New GBP 300 million share buyback program announced, reflecting confidence in future cash generation.

• CapEx targeted at 3% of sales; dividend policy aims for progressive growth with a 36%-44% payout ratio.

Regional Performance Highlights

• UK & Ireland: Sales up 1.2% to GBP 6.5 billion, strong trade and e-commerce growth, TradePoint LFL +6.4%.

• France: Sales GBP 3.9 billion, LFL down 6.2%, market share gains despite weak market, cost reductions, retail profit GBP 95 million.

• Poland: Sales up 3.2% to GBP 1.8 billion, strong trade and e-commerce, margin up 80bps.

• Sale of Romanian business for EUR 70 million expected to complete in H1; strong actions in Turkey and growth in Iberia.