• Sales revenue down 3% to $4,402 million
• EBIT down 17% to $305 million
• EPS down 19% to 28 cents
• Interim dividend of 6.5 cents per share, fully franked

Reece Limited ('Reece Group' or 'Reece'; ASX: REH) today announces its financial results for the half year ended 31 December 2024 (HY25). The company's performance for the first half reflects the challenging trading environment in both regions as mortgage rates and affordability continue to create near term headwinds in the sector. Despite the softer first half, Reece continued to invest in the business, expanding its branch network, lifting store standards, and enhancing its core capabilities. Sales revenue decreased 3% to $4,402 million (HY24: $4,537 million), and EBIT was down 17% to $305 million (HY24: $367 million). NPAT was down 19% to $181 million (HY24: $224 million). The Group generated net operating cash inflows of $256 million (HY24: $378 million) and increased its capex to sales ratio to 2.9% during the period. In the ANZ region, sales revenue was flat at $1,980 million (HY24: $1,972 million), with EBITDA down 12% to $271 million (HY24: $307 million) and EBIT decreasing 17% to $193 million (HY24: $233 million). In the US region, sales revenue decreased 5% to US$1,596 million (HY24: US$1,683 million), with EBITDA down 6% to US$135 million (HY24: US$143 million) and EBIT decreasing 15% to US$74 million (HY24: US$87 million). The Board has declared a fully franked dividend of 6.5 cents per share.