Reece (REH) AGM 2026 summary

Opening remarks and agenda

• Agenda covered Chair, Managing Director and Group President addresses, FY26 results, formal resolutions and shareholder Q&A; the Chair opened the meeting after confirming a quorum.

• Resolutions were to be decided by poll; online voting opened before formal business and was scheduled to close five minutes after the meeting.

• FY26 financial statements, sustainability report, Directors’ report and auditor’s report were tabled.

Financial performance review

• FY26 revenue was AUD 9.4bn, up 4.5%; EBITDA was flat at AUD 901m and EBIT fell 2.6% to AUD 534m.

• ANZ revenue rose 8.3%, including a 2% inflation contribution; U.S. revenue rose 6.5%, while U.S. like-for-like sales fell 1.7%.

• EPS increased to AUD 0.495; return on capital was 11.9%, up 5 bps, and net leverage fell to 1.0x EBITDA from 1.5x in Dec-25.

• Q1 FY27 sales rose 4.3% reported and 8.7% at constant currency; ANZ sales rose 12.8%, while U.S. sales rose 5.6% and U.S. like-for-like sales 2.4%.

Board and executive committee updates

• Tim Ford joined the board in April as Lead Independent Director and joined the Remuneration, Audit and Risk, and U.S. boards; Jacqueline Chow became Remuneration Committee Chair.

• Angela Mentis retired from the board; the Chair thanked her for her contribution.

• Shareholders were asked to vote on seven director elections, including re-elections of Peter Wilson, Gavin Street, Jacqueline Chow, Andrew Wilson, Bruce Wilson and Sasha Nikolic, and Tim Ford’s election; the board supported each.