TEMPLE & WEBSTER GROUP LTD — AGM Information 2025

Nov 25, 2025

TEMPLE & WEBSTER GROUP LTD ABN 69 608 595 660

==> picture [114 x 43] intentionally omitted <==

ASX Announcement

26 November 2025

2025 Annual General Meeting Addresses and Trading Update

Temple & Webster Group Limited ( ASX:TPW ), Australia’s leading online retailer for furniture and homewares,[1] is pleased to attach the addresses to be delivered by the Chair and CEO at the Company’s Annual General Meeting ( AGM ) later today. This is provided in accordance with ASX Listing Rule 3.13.3.

A presentation slide deck will also be lodged separately.

‐ ends ‐

This announcement has been authorised by the board of directors.

For all investor enquiries: Mark Tayler M: +61 (0) 411 543 135 investor.relations@templeandwebster.com.au

For all media enquiries:

Melissa Shawyer, PR Group M: +61 (0) 412 066 048 melissa@prgroup.com.au

Forward-looking Statements

Certain statements contained in this announcement are forward-looking statements or statements about future matters, including any indications of, and guidance or outlook on, the earnings, financial position and / or performance of Temple & Webster Group Limited. These statements involve known and unknown risks and uncertainties and other factors (many of which are beyond the control of Temple & Webster Group Limited) and involve significant elements of subjective judgement and assumptions as to future events (which may or may not be correct). No representation, warranty or assurance is given that the occurrence of any of the events expressed or implied in these statements will actually occur or that actual outcomes will not differ materially from the outcomes expressed or implied in these statements.

About the Temple & Webster Group

Temple & Webster is Australia’s leading online retailer of furniture and homewares. Originally founded in 2011, the business runs an innovative drop-shipping model whereby products are sent directly to customers by suppliers, enabling faster delivery times and reducing the need to hold inventory, allowing for a larger product range. The drop ship range is complemented by a private label range which is sourced directly by Temple & Webster from suppliers. The business also offers customers a growing range of home

1 Source: IBISWorld Industry Reports: OD4176 Online Household Furniture Sales in Australia (September 2024), OD4174 Online Home Furnishing Sales in Australia (November 2024)

Page 1

TEMPLE & WEBSTER GROUP LTD ABN 69 608 595 660

==> picture [114 x 43] intentionally omitted <==

improvement products, as well as Trade & Commercial solutions for business customers. Temple & Webster Group’s registered office and principal place of business is 2, 1-7 Unwins Bridge Road, St Peters, Sydney, Australia, and the company is listed on the Australian Securities Exchange (ASX) under the code TPW.

Page 2

TEMPLE & WEBSTER GROUP LTD ABN 69 608 595 660

==> picture [114 x 43] intentionally omitted <==

Chair’s Address

Good morning, everyone and welcome to our 2025 Annual General Meeting.

Before we begin, Temple & Webster Group would like to acknowledge 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.

I would also like to introduce my fellow Directors who are here at today’s meeting:

• Conrad Yiu, Co-Founder, Non-Executive Director and Deputy Chair

• Belinda Rowe, Independent Non-Executive Director and Chair of the Nomination and Remuneration Committee

• Mark Coulter, Co-Founder, Managing Director and Chief Executive Officer

• And, Michael Malone, our new Non-Executive Director who we welcomed aboard in October.

Joining us today via video conference is Melinda Snowden, Independent NonExecutive Director and Chair of the Audit and Risk Management Committee.

We are also joined by Lisa Jones, our Company Secretary, and members of our Executive Leadership Team.

FY25 financial performance

As reported in August, FY25 was another strong year for Temple & Webster. We delivered $601 million in revenue, up 21% on a year-on-year basis. This result reflects both the strength of our customer proposition and the adaptability of our business model. We were also pleased to have increased our share of the total furniture and homewares market in Australia from 2.3% to 2.7% during FY25, bringing us another step closer to our goal of becoming Australia’s largest furniture and homewares retailer.

Our EBITDA for the financial year was $18.8 million, an increase of 43% on the prior financial year. This represents an EBITDA margin of 3.1%, up 50 basis points from FY24 and was slightly above the top end of our guidance range of 1 to 3%. This is a result driven by continued fixed cost leverage and disciplined execution across the business.

We ended the year with a cash balance of $144 million, a 35% increase on FY24, with no debt. This robust capital position enables us to move quickly and opportunistically when growth opportunities arise, whilst providing optionality around capital

Page 3

TEMPLE & WEBSTER GROUP LTD ABN 69 608 595 660

==> picture [114 x 43] intentionally omitted <==

management initiatives, such as our on-market share buy-back program, which is in place to enhance shareholder returns in the absence of more accretive opportunities.

Strategy update

Our performance against our strategic goals continues to be underpinned by strong execution. Mark will speak to our progress in more detail, but I’ll touch on a few highlights.

Temple & Webster’s unprompted brand awareness continued to edge higher in FY25, supported by increased brand marketing, the diversification of our channel mix and ongoing optimisation of marketing spend. We believe growing brand awareness is a critical next step towards becoming the number one brand in our category.

Our continued investment in private label and exclusive drop-ship products is deepening our competitive moat, with these products reaching 45% of total revenue in FY25, up from 43% in the prior year.

We also expanded our use of AI-based technologies across the business, leading to improvements in customer service efficiency, continued optimisation of shipping prices, and more personalised customer experiences that are driving conversion uplifts.

Our focus on cost discipline across the business delivered another 70 basis point improvement in fixed costs as a percentage of total revenue. This reinforces our ability to maintain a value-led, disruptive proposition for customers.

Finally, our home improvement business continues to outperform, growing revenue by 43% in FY25, and helping us to unlock another $18 billion in addressable market that remains predominantly offline.

Together, these achievements highlight Temple & Webster’s ability to deliver strong profitable growth while strengthening the foundations of our business. With a clear strategy, strong balance sheet and disciplined execution, we are well positioned to continue building long-term value for our shareholders.

Corporate governance update

In addition to these financial and strategic highlights, we updated our corporate governance policies to further align with best practice standards.

The Board Charter was revised to provide greater clarity on the roles and responsibilities of Directors, expectations for engagement, and the process for assessing Board performance. The Price Sensitive Information Policy was also

Page 4

TEMPLE & WEBSTER GROUP LTD ABN 69 608 595 660

==> picture [114 x 43] intentionally omitted <==

updated to more clearly articulate the respective responsibilities of the Board and Executive Management in identifying, assessing and disclosing material information.

These enhancements reinforce our commitment to transparency, accountability and strong governance.

In addition to Cameron Barnsley joining as Chief Financial Officer in September last year, we were also pleased to announce the appointment of Michael Malone as a Non-Executive Director, effective October 2025. We welcome Michael to Temple & Webster and look forward to working with him.

Closing remarks

In closing, FY25 serves as another proof point of Temple & Webster’s innovative business model, disciplined execution, and the significant opportunity before us. Despite a challenging macroeconomic backdrop, we have continued to grow market share, improve margins, and strengthen our capital position. This performance underscores both the resilience and scalability of our business and the substantial growth runway that lies ahead.

On behalf of the Board, I’d like to thank Mark Coulter and the entire Temple & Webster team for their dedication, focus, and hard work throughout the year.

And finally, to our shareholders: thank you for your ongoing confidence and support in what we’re building together at Temple & Webster.

Thank you. I’ll now hand over to Mark for his address.

Page 5

TEMPLE & WEBSTER GROUP LTD ABN 69 608 595 660

==> picture [114 x 43] intentionally omitted <==

CEO’s Address

Thank you, Stephen, and good morning, everyone.

We are proud to deliver another year of strong operational and financial results. While macroeconomic headwinds persisted, almost 1.3 million customers turned to Temple & Webster to furnish their homes, a reflection of how our extensive range, beautiful products, and strong value proposition continue to resonate. This translated into nearly 1.8 million orders, with repeat customers representing 59% of total orders, up from 57% last year. We closed the year with $601 million in revenue, up 21% year on year, and $18.8 million in EBITDA.

Market opportunity

Temple & Webster is pursuing a $37 billion market opportunity across furniture, homewares and home improvement in Australia. Our core focus remains the $19 billion furniture and homewares category, which continues to offer considerable runway for growth. The $18 billion home improvement market, though newer for us, represents an equally compelling opportunity.

Both categories share similar structural dynamics that are favourable for Temple & Webster: they are largely unbranded, highly fragmented, and dominated by offline players with less flexible business models. Online penetration also remains comparatively low with furniture and homewares at around 20% in Australia, well below other retail sectors and international peers such as the U.S. at 35% and the U.K. at 29%. The home improvement category lags even further, with only 5 to 10% of revenue currently online.

Given these dynamics, and our belief that the industry will continue its shift online, we are exceptionally well positioned to capture a greater share of this $37 billion market. Our capital-light business model enables us to deliver a truly differentiated proposition centred around price, range and convenience.

We also believe in the potential for our business to resonate with customers outside Australia. That is why we took our first step abroad, entering the New Zealand market in October. The New Zealand furniture, homewares and home improvement market is greater than $3 billion in size, and shares many of the characteristics that have underpinned our success in Australia: low online penetration, a fragmented competitive landscape, and a clear opportunity for a retailer like Temple & Webster. We are taking a measured, test-and-learn approach, and aim to expand our presence over several phases. Importantly, this launch will provide valuable insights to help refine our approach for future international expansion.

Encouragingly, we are off to a great start in New Zealand. Revenue since launch has surpassed six figures, conversion has steadily improved since launch, total orders are

Page 6

TEMPLE & WEBSTER GROUP LTD ABN 69 608 595 660

==> picture [114 x 43] intentionally omitted <==

exceeding expectations, and average order value is keeping pace with levels in Australia. Furthermore, customers are already making repeat purchases – in some cases even before receiving their initial orders. To support our ability to scale quickly, we expect $2-3 million of incremental cost for FY26 relating to our investment in New Zealand, with revenue expected to ramp more materially from H2 FY26 and into FY27.

Progress against our strategic goals

Turning now to our strategic goals. We have made meaningful progress throughout the year across each of our five key priorities.

Temple & Webster’s brand continued to strengthen, fuelled by expanded marketing channels and ongoing data-led investment. Over the last two years, we have invested $22 million in brand marketing to test new channels and optimise performance - and the results are encouraging. Unprompted brand awareness reached 9% in FY25, and our share of branded search grew from 4.3% to 4.9%. That said, there’s still significant upside, with category leaders near 40% awareness today. To build on our momentum and drive more efficient brand returns, we have shifted from short, experimental bursts to an always-on strategy, guided by detailed media-mix modelling.

Private label and exclusive drop ship penetration also grew strongly, reaching 45% of total revenue in FY25. During the year, we launched over 900 proprietary designs and nearly 80% of our top 500 selling products were exclusive to Temple & Webster. To help accelerate growth even further, we have opened a dedicated sourcing office in Shanghai, enabling faster speed-to-market for new private-label products.

Our investment in AI, data and technology is delivering measurable benefits, both for our customers and for our operations. For example, we are experimenting with personalised website experiences and targeted marketing, powered by graph data science, with early results already delivering uplifts in conversion. AI is also driving efficiencies across our business, most notably in customer support, where costs as a percentage of revenue have fallen by more than 60% since FY23.

As the business continues to scale, we’re also realising greater operating leverage. Fixed costs fell to 10.6% of revenue in FY25, down from 11.3% the year prior. This scalability allows us to keep delivering on our value proposition, offering customers great prices while growing profitably.

Finally, in our adjacent growth areas, home improvement continued its strong momentum, with revenue up 43% year on year to $42 million in FY25. Growth was driven by both new and repeat customers as awareness of our offering increased. Our Trade & Commercial business also grew 9% year on year, with a recent uplift in forward orders expected to drive stronger revenue growth in FY26.

Page 7

TEMPLE & WEBSTER GROUP LTD ABN 69 608 595 660

==> picture [114 x 43] intentionally omitted <==

Trading update

Turning to current trading, we continue to make significant market share gains, with revenue from 1 July to 20 November up 18% on the prior comparison period ( pcp ).

Key leading indicators and customer cohort performance are trending positively, with average order values up 3% vs the pcp, active customers at record levels, and the proportion of orders from repeat customers continuing to increase.

Our home improvement business continues to outperform, with growth continuing to track at more than 40% vs the pcp. Our Trade and Commercial business is also performing strongly, accelerating to 23% growth year-to-date, with significant momentum in sizeable orders across the holiday and student accommodation sectors.

In terms of outlook, 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 reaffirm our EBITDA margin guidance of 3 – 5%, and with a cash position of over $150 million, our on-market share buy-back program is in place and ready to be deployed.

Thank you

Finally, I would like to thank our Tempster team. Your hard work and dedication underpin everything we do, and I look forward to all that we will achieve together in the years to come. Thank you also to our customers, suppliers and partners, and shareholders. We value your ongoing support and trust as we continue to execute on our vision to make the world more beautiful, one room at a time.

Page 8