Boxer Retail (BOX) Trading update summary

Trading performance

• Turnover for the 48 weeks ended 1 February 2026 grew 11.9%, with like-for-like sales up 3.9%.

• In the last 22 weeks, turnover increased 9.8% and like-for-like sales rose 2.4%.

• Strong growth in September and October 2025 was followed by a soft November and steady improvement in December and January.

• Market share gains were recorded throughout the period, as measured by NielsenIQ.

• Internal selling price inflation for the period was -1.0%.

Outlook and guidance

• Sales growth for the full year FY26 is expected to be ahead of the reported period due to a softer prior year base.

• On current assessment, trading profit growth objectives for FY26 remain on track.

• Store rollout guidance for FY26 is broadly on track, with liquor store expansion dependent on licence approvals.

Additional information

• Financial information in this update has not been reviewed by external auditors.

• Forward-looking statements are based on current board views and are subject to risks and uncertainties.