• Transformation Program progress: cost savings ahead of schedule
• Challenging trading conditions: sales decline in 2H26
• FY26 Underlying EBITDA guidance narrowed to $20.0-21.0m
• First Firehouse Subs restaurant on track for June 2026 launch

Retail Food Group (RFG) provides a market update on its transformation progress, trading conditions, and financial guidance. The transformation program, including cost rationalisation and operational enhancement, is ahead of schedule with expected FY26 savings of $2.3-2.5m and FY27 savings of $5.0-7.0m. Trading conditions remain challenging with Core Brand Network Sales down 4.8% and Same Store Sales down 0.8% in the first 20 weeks of 2H26. RFG narrowed its FY26 Underlying EBITDA guidance to $20.0-21.0m, reflecting the transformation progress and current retail trading conditions. The first Firehouse Subs restaurant is on track for a June 2026 launch.

FY26 Underlying EBITDA guidance: $20.0-21.0m

RFG expects to enter FY27 with a more efficient cost base and enhanced alignment across marketing and operational functions, contributing to a stronger FY27.