RESULTS CENTRE (HY 2025)

Financial Highlights

Disciplined approach to H1: against a challenging market backdrop
US the key headwind: North America revenue -18% due to dampened project starts and investment confidence linked to tariffs, elevated interest rates and restrictive immigration policies as previously reported
Softer international trading: Europe -51% reflecting customer caution amid US and geopolitical uncertainty; Australia -34% as sales volumes normalize against a backdrop of skilled labor shortages and tightened monetary policy; ROW -11% primarily due to reduced Latin America volumes
However, demand drivers remain intact: onshoring, data infrastructure, equipment electrification, EV/battery facilities, manufacturing, warehousing and logistics, and power generation
High bidding activity and healthy project backlogs: reported by customers
Strong new product contribution: delivered US$ 4.2m revenue, up 36%
Cost action taken: partly offsetting impact of lower revenues on profitability
Operating cashflow improvement: aided by favorable timing of collections
Unchanged FY25 guidance: Trading is expected to strengthen in the second half of the year, supported by seasonal uplift and contributions from new products. Revenues of c. US$ 90.0m, EBITDA of c. US$ 18.0m, and year-end cash of c. US$ 24.0m.

Financial Highlights	H1 2025 (US$)	H1 2024 (US$)	% Change
Revenue	39.8m	51.8m	-23%
Adjusted EBITDA^(1,2)	6.4m	12.4m	-48%
Adjusted EBITDA margin^(1,2)	15.9%	23.8%	-790 bps
Profits before tax	4.9m	10.6m	-54%
Adjusted net income^(1,3)	3.3m	8.0m	-59%
Diluted adjusted net income per share^(1,3)	0.06	0.14	-57%
Cash flow from operations	4.1m	2.9m	41%
Net cash⁽⁴⁾	24.6m	20.8m	18%
Interim dividend per share	0.04	0.08	-50%

Operational Highlights

Key leadership appointments:
- Bob Scheuer as Chairman, bringing deep knowledge of Somero and Fortune 500 leadership experience
- Tim Averkamp as Chief Executive Officer, with 30 years of international experience in global construction machinery and equipment innovation
New product launch:
- The SRS-4e in January, Somero’s first electric-powered Boomed Laser Screed
- The Hammerhead in H2, expanding Somero’s reach beyond its traditional base into the expansive mid-range concrete contractor segment
- The S-15EZ in H2, a next-generation mid-sized Boomed Screed
Updated strategic framework: to guide the Company’s next phase of growth

Notes:

The Company uses non-US GAAP financial measures to provide supplemental information regarding the Company’s operating performance. See further information regarding non-GAAP measures below.
Adjusted EBITDA as used herein is a calculation of the Company’s net income plus tax provision, interest expense, interest income, foreign exchange loss, other expense, depreciation, amortization stock-based compensation and non-cash lease expense.
Adjusted net income as used herein is a calculation of net income plus amortization of intangibles and excluding the tax impact of stock option and RSU settlements and other special items.
Net cash is defined as cash and cash equivalents less borrowings under bank obligations exclusive of deferred financing costs.