• Sales: $82.2 million, up 11.8%
• EBITDA: $5.3 million, up 18.8%
• NPAT: $1.6 million, up 51.4% on LFL basis

Stealth Group Holdings Ltd (Stealth or the Company) today announces record financial results for the half-year ended 31 December 2025, marking a pivotal inflection point in the Company's transformation following the acquisition of Hardware & Building Traders (HBT). Stealth delivered record half-year performance across key financial metrics, including sales of $82.2 million (up 11.8%), revenue of $72.0 million, EBITDA of $5.3 million (up 18.8%), and NPAT of $1.6 million (up 51.4% on a like-for-like basis). The balance sheet has strengthened materially following a $19.5 million capital raise and disciplined capital management, with net gearing reduced to 12.8% and $32.5 million in cash on hand. The HBT acquisition, completed in November 2025, has added approximately 1,165 independent stores, representing around $700 million in annual member purchases and expanding Stealth's supplier relationships to ~490. This has created a national platform representing over $800 million in consolidated annual purchases, positioning Stealth as the #1 independent alternative to major incumbents. Stealth has upgraded its FY28 sales target from $300 million to over $500 million, with an EBITDA margin target of 8-12% and NPAT margin of 5-8%. Key growth catalysts include procurement scale and supplier leverage, exclusive and private-label expansion, wholesale and charge-through sales, network expansion, and digital and operational efficiency gains.

FY28 sales target: >$500 million FY28 EBITDA margin: 8% - 12% range FY28 NPAT margin: 5% - 8% range Net debt to EBITDA ratio: Below 1x

Stealth entered 2H FY26 with strong operational momentum, with 1H26 performance exceeding 1H25 and HBT integration delivering early synergies. The company expects 2H26 to surpass 1H26 performance, and a stronger FY27 from the full-year contribution of HBT. Stealth remains confident in achieving its FY28 targets.