Monadelphous Business Update

• Experienced strong operating conditions in first 4 months of FY26
• Demand for engineering construction services remains elevated
• Significant increase in demand from energy customers

Monadelphous Group Limited (ASX: MND) has provided revenue guidance for the half year ending 31 December 2025, forecasting revenue of approximately $1.5 billion. The company has experienced strong operating conditions throughout the first four months of the 2026 financial year, with activity levels elevated across the business. The strong momentum experienced in the last quarter of FY25 has continued, underpinned by the record level of work secured during the 2025 financial year. Demand for engineering construction services has been strong, with a larger revenue contribution from vertically integrated construction projects, especially those incorporating Melchor's civil capability and Inteforge's fabrication services. The company has also experienced higher levels of major project activity within Zenviron and Mondium, as well as a significant increase in demand from energy customers, particularly in brownfields developments and turnaround services. The recent acquisition of Kerman Contracting further broadens Monadelphous' capabilities, enabling the provision of non-process infrastructure design and construction services across both existing and new market sectors. The company's committed work pipeline remains strong, with more than $570 million in new contracts secured since the beginning of the financial year, with further contract awards expected over coming months.

Monadelphous is currently forecasting revenue for the half year ending 31 December 2025 of approximately $1.5 billion. Full year revenue is currently forecast to be around 20 to 25 per cent higher than the previous year.

Operating activity is expected to moderate in the second half of the financial year.