TEMPLE & WEBSTER GROUP LTD — AGM Information 2025

Nov 25, 2025

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FY25 Annual General Meeting

26 NOVEMBER 2025

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Acknowledgement of Country

Temple & Webster Group acknowledges the Traditional Owners and Custodians of Country throughout Australia.

We recognise their enduring connection to the lands, the waterways, and the skies. We acknowledge the Gadigal and Wangal people, on whose lands our corporate head office is located, as well as all other First Nation Countries we operate across.

We pay our respects to Elders past, present and to all Aboriginal and Torres Strait Islander peoples.

Wiradjuri Country Dunns Swamp, Cudgegong River, NSW

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01 Chair’s Report STEPHEN HEATH

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Record revenue result for FY25, on track to meet our $1b target

• Strong revenue • Record revenue result of $601m for FY25, up 21% vs FY24 growth leading to ( pcp ) significant market • Strong EOFY promotional period, with revenue from 1 June share gains to 30 June 2025 up 28% year-on-year[1]

• • Our share of the furniture & homewares market in Australia grew to a record 2.7%, up 17% vs pcp[2]

FY25 revenue $601m

+21% on FY24

FY25 EBITDA[3] $18.8m

• Margins above top • FY25 EBITDA of $18.8m,[3] up 43% vs pcp, representing a end of guidance, margin of 3.1% (+50 bps vs pcp) strong cash flow • Fixed costs as a % of revenue of 10.6% for FY25, down from generation and cash 11.3% for FY24, demonstrating continued operating leverage

• position

+43% on FY24

• Free cash flow of $38m for FY25,with a closing cash balance of $144m[4] and no debt

Cash balance as at 30 June 2025[4] $144m +$37m on FY24

• Executing well • Continue to track to plan across all of our long-term towards our strategic strategic goals; on-track to reach our mid-term goal of $1b+ goals and mid-term in annual revenue target of $1b+ in • EBITDA margin guidance for FY26 of 3 – 5%, targeting the annual revenue mid-point of the range[3]

• 1 Revenue growth based on checkout revenue, which is pre-accounting adjustments (deferred revenue and refund provision)

• 2 Source: ABS Retail Trade, Australia (June 2025)

• 3 EBITDA is a non-IFRS measure and is calculated by adding depreciation and amortisation, finance costs and interest income to profit before tax. FY24 comparative EBITDA excludes one-off costs of $4.7m

• 4 Cash in transit of $11.2m as of 30 June 2025 (30 June 2024: $9.2m) was reclassified from Cash & Cash Equivalents to Other Current Assets. This change in presentation was made in both reporting periods

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Our disruptive customer proposition continues to drive market share gains

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T&W SHARE OF THE AUSTRALIAN FURNITURE AND HOMEWARES MARKET [1]
Price
3.0% Our mid-term
Our online / asset light business model allows us
revenue target
to run a lower delivered margin, thereby allowing implies ~4.2% market
share
us to pass on material savings to our customers.
2.5%
2.7%
FY25
market
Range share
2.0%
Our drop-ship model, complemented by private
label sourcing capabilities , enables us to have the
best range, and allows us to personalise customer
1.5%
experiences based on individual style preferences.
Convenience 1.0%
94% of our products are in stock and ready to
ship , enabling fast dispatch to customers, and
eliminating long lead times that are synonymous 0.5%
FY20 FY21 FY22 FY23 FY24 FY25
with the furniture and homewares industry.
Note: #1 and #2 players in the market currently hold ~10% market share each
T&W Market Share %
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1 Source: ABS Retail Trade, Australia (June 2025) to calculate total market; market share calculated based on net revenue from the LTM period ending in December and June each year; note market share presented in our H1 FY25 results presentation for the LTM to 31 December 2024 was based on checkout revenue

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We remain focused on our vision and strategic goals

OUR VISION

To make the world more beautiful, one room at a time

We want to be famous for having the best range in our category, the most inspirational content and services and a great delivery and customer service experience

CUSTOMER PROMISE

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OUR MID-
TERM [1]
STRATEGIC
GOALS 01 02 03 04 05
Become the Majority of Leading Lower fixed Build scale
top-of-mind revenue from capabilities cost % to through
brand in the exclusive around obtain a price adjacent
category products data, AI & and margin growth plays
technology advantage
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OUR To be the largest furniture & homewares retailer, and the first GOAL place Australians turn to when shopping for their homes

1 Mid-term implies 3 – 5 years from FY23

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Governance updates

Board of Directors

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New Appointment
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Stephen Heath Conrad Yiu Belinda Rowe Melinda Snowden Mark Coulter Michael Malone
Independent NED, NED, Independent NED Independent NED Managing Director Independent NED
Chair Deputy Chair & Chair of N&RC & Chair of A&RC and CEO since Oct 2025
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Charter and policy updates

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Price Sensitive Information Policy

Board Charter

Clarify the roles and responsibilities of Board members and their engagement, provide guidance on performance assessment, and the role of Executive management.

Specify the roles and responsibilities of the Board and Executive management in identifying, assessing and communicating material information.

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02

CEO’s Report MARK COULTER

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Key performance indicators show continued improvements

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RECORD ACTIVE CUSTOMERS, [1] +16% VS PCP CONTINUED GROWTH IN ORDERS FROM BOTH NEW & FY25 MARKETING ROI [3] REFLECTS INCREASES TO
REPEAT CUSTOMERS, TOTAL ORDERS +16% VS PCP [2] DIGITAL BUDGET AND BRAND INVESTMENT
1,274k Customers still
1,779k profitable on their
1,094k 1,528k 2.3x first order (on average)
1,365k
941k 2.0x 2.0x
778k 832k 1,028k 1,132k 1,051k 1.7x
874k 1.4x
745k
463k 642k
565k 620k 491k 654k 729k
FY21 FY22 FY23 FY24 FY25 Jun-21 Jun-22 Jun-23 Jun-24 Jun-25
Customer
FY21 FY22 FY23 FY24 FY25 Repeat Customer Orders First Time Customer Orders $58 $69 $72 $88 $101 Acquisition
Cost (CAC)
REVENUE PER ACTIVE CUSTOMER [4] AI TOOLS CONTINUE TO DRIVE RECORD LEVEL OF CUSTOMER SATISFACTION
CONVERSION RATE [5 ] GAINS, +5% VS PCP
Net Promoter Score ( NPS ) = Score from -100% to 100%
$477 3.2%
$451 $461 $456 3.0% 2.8% 2.8% 3.0%
$426 62% 62% 61% 63%
57%
FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25
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$477
$451 $461 $456
$426
FY21 FY22 FY23 FY24 FY25
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1 Active customers are the number of all unique customers who have transacted in the last twelve months (LTM)

2 Customer orders exclude gift card and test orders

3 Marketing ROI = Margin $ / CAC; Margin = Revenue per active customer as at 30 June 2025 x delivered margin % for FY25; CAC = Total marketing spend for FY25 x 75% (being the estimated percentage of marketing spent on new customer acquisition, i.e., excludes estimated spend on repeat customers) divided by the number of firsttime customers during the period

4 Revenue per active customer = LTM net revenue (excluding deferred revenue accounting adjustments) divided by active customers

5 Average conversion rate is the total number of purchases divided by the total number of monthly users. Sourced from Google Analytics

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Our ~$37b TAM remains underpenetrated, with favourable market dynamics

The $19b[1] furniture and homewares market remains our core focus, however home improvement now adds ~$18b[1] to our addressable market; this excludes upside from trade and commercial, international and new ventures over time

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Australian furniture Australian home
and homewares market improvement market
Online Online
penetration penetration
20% [2] 5 – 10% [3]
$19bn [1] US market = 35% [2] $18bn [1]
UK market = 29% [2]
Further upside from
Trade and International
+ commercial + expansion + New ventures
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These markets are characterised by favourable dynamics

Low online penetration rates compared to other categories

Dominated by offline players with high fixed costs and price points

High margin categories with low levels of competition from offshore players

Largely unbranded categories limiting comparison shopping

Mature markets with low volatility even during recessions and the GFC

1 Source: ABS Retail Trade, Australia (June 2025); internal analysis

2 Source: Euromonitor, Home and Garden, May 2025, Australia, US and UK (online penetration statistic refers to the homewares and home furnishing categories for the 2024 calendar year)

3 Source: Temple & Webster internal analysis based on Euromonitor, Home and Garden, Australia; competitor disclosures; IBISWorld

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Temple & Webster is now shipping to New Zealand customers, with early positive signs

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Since launching in Oct, we are off to a great start

The New Zealand market presents a compelling opportunity for T&W

Over $100k revenue generated in first six weeks[2]

New Zealand furniture, homewares and home improvement market

$3bn+[1]

Average order values comparable to Australia

• ✔ Attractive market structure with no mid-market focused online player

Multiple repeat customer orders

• ✔ Proximity to Australian warehouses

• ✔ Comparability of regulatory and compliance standards

• ✔ Similarity in customer preferences

Steady growth in conversion and traffic

• ✔ Opportunity for T&W to be a meaningful player in the market

• ✔ Provide valuable insights for future international expansion

• Cross border fulfillment and logistics capabilities

We expect $2-3m of incremental costs for FY26 relating to our investment in New Zealand

• Suitability of product range / catalogue

• Pricing, compliance and tax

1 Source: IBISWorld Furniture Retailing in New Zealand – Market Research Report (2015-2030); Temple & Webster internal estimates

2 Based on checkout revenue which is pre-accounting adjustments (deferred revenue and refund provision)

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We are tracking to plan across all of our strategic goals

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• Unprompted brand awareness position moved from #7 to #6 in the Become the top-ofmind brand in the Australian market; remaining the #1 online only brand[1] 01 category • Share of branded searches increased from 4.3% to 4.9% over the LTM

• Share of branded searches increased from 4.3% to 4.9% over the LTM[2]

• Revenue from exclusive products 45% of FY25 revenue (vs. 43% in FY24)[3]

Majority of revenue from exclusive 02 products

• 79% of top 500 selling products in FY25 were exclusive (vs. 70% in FY24)

• Added 900+ products from our in-house merchandising / design team

• 80% of customer pre / post sales support interactions now partially or fully handled by AI and technology

• Leading capabilities around data, AI and

• 03 technology

• Experimenting with personalised website experiences

• Fixed costs as a % of revenue declined to 10.6% in FY25 (vs. 11.3% in FY24)

• Lower fixed cost % •

• to obtain a price and Savings primarily driven by moderation in headcount growth, improved

• 04 margin advantage productivity through AI and tech tools

• Home improvement achieved $42m revenue in FY25 , +43% vs. FY24

Build scale through adjacent growth • Private label penetration in home improvement at 18.5% 05 plays • Trade & Commercial achieved $48m revenue in FY25 , +9% vs. FY24

1 Zenith insights, Temple & Webster Brand Tracker (June 2025); excludes multi-category department stores / discount retailers

2 Google Brand Dashboard (June 2025)

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3 Revenue based on checkout revenue which is pre-accounting adjustments (deferred revenue and refund provision)

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We are on track to our mid-term goal of $1b+ in annual sales

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FY23
Base Year FY24 FY25 Mid-Term [1] Commentary/Assumptions
Core business: B2C
Furniture & Homewares $335m $424m $514m >$800m • Total market (online + offline) view:
Revenue
Although there are some tailwinds, we assumed
the market remained at its FY25 ~$19b [2] size, T&W
market share grows from 1.8% (FY23) to 4.2%. Our
current market share is 2.7%, [3] up by 17% vs pcp
Growth plays • Online-only view:
(e.g. B2B / Home $61m $74m $87m >$200m Market grows from 18% penetration in FY23 to
Improvement,
International) 28% as millennials become the largest spending
cohort in the category (lower than the UK and
US at 29 – 35% [4] ); T&W online market share grows
from 10% to 15%
$498m $601m Our growth rate will be commensurate
T&W Group Revenue $396m $1b+
+26% growth +21% growth with our speed of execution
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• 1 Mid-term implies 3-5 years from FY23

• 2 Source: ABS Retail Trade, Australia (June 2025); internal analysis

• 3 Source: ABS Retail Trade, Australia (June 2025) to calculate total market; market share calculated based on net revenue from the LTM to 30 June 2025; note market share presented in our H1 FY25 results presentation for the LTM to 31 December 2024 was based on checkout revenue

• 4 Source: Euromonitor, Home and Garden, May 2025, Australia, US and UK (online penetration statistic refers to the homewares and home furnishing categories for the 2024 calendar year)

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Trading update and FY26 outlook

• We continue to make significant market share gains, with revenue from 1 July to 20 November 2025 up 18% year-on-year[1]

• Key leading indicators and customer cohort performance are trending positively: average order values up 3% year-on-year, active customers at record levels, and the proportion of orders from repeat customers continuing to increase

• Home improvement continues to outperform, with revenue growth continuing to track over 40% year-on-year[1 ]

• Trade & Commercial is also performing strongly, accelerating to 23% growth year-on-year,[1] with significant momentum in orders across the holiday and student accommodation sectors

• Our focus remains on delivering revenue growth within our target range for FY26, and we remain on track to achieve our mid-term goal of $1 billion in annual revenue

• We reiterate our EBITDA margin guidance of 3 – 5% for FY26

• With a cash position of over $150 million, our on-market share buyback remains in place and ready to be deployed

1 Revenue growth is based on checkout revenue which is pre-accounting adjustments (deferred revenue and refund provision)

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