Creating value from a stronger, more focused Kier

Significant momentum and market opportunity

Framework positions

c.£200bn

Pipeline

£65bn

Order book growth

5% CAGR

(FY22-FY26)

Strong financial profile

FY26 revenue growth

7.5%

Top tier industry margin

3.9%

Operating cash flow conversion in FY26

121%

Enhanced shareholder returns

Cash generation and reallocation of Property capital

Lower finance costs in medium-term from bond repayment

Significant capital for strategic allocation