AGM Statement

21 May 2026

Hill & Smith PLC

AGM Statement

Positive start to the year; revenue growth driving full year upgrade

Hill & Smith PLC ("Hill & Smith" or "the Group"), a leading provider of solutions that enhance the resilience of vital infrastructure and the built environment, provides a trading update for the four-month period ("the period") to 30 April 2026, ahead of its Annual General Meeting to be held later today.

Trading

Trading in the period has been positive and slightly ahead of our expectations, reflecting continuing robust demand for infrastructure solutions in the US, our largest market. Group revenue was up 5% on an organic constant currency basis, driven by double-digit organic growth from our US businesses. Group operating margin was similar to the prior year period.

US Engineered Solutions achieved strong growth in the period, driven by robust demand across our larger platform businesses. The division delivered an operating margin similar to the same period last year.

Galvanizing Services delivered a strong performance, driven by a significant increase in US volumes, reflecting demand across a number of our key infrastructure end markets, combined with solid volume growth in the UK. Operating margin was slightly ahead of the same period last year.

UK & India Engineered Solutions has seen a continuation of subdued demand in the UK, as expected. The prior year benefited from transport infrastructure projects which did not repeat in the current period. Operating margin declined, with the division continuing to focus on cost management and efficiency, as well as increasing exposure to our priority end markets.

At the full year results in March, we highlighted that we were assessing a range of measures to strengthen our UK operations and we are now actioning changes that will support improved UK performance, further detail of which will be provided with the interim results. In May, we disposed of Hill & Smith VRS Limited ('VRS'), our permanent steel road barrier business, to ThreeSixty Investco for consideration of £5.25m. In 2025, VRS achieved revenue of £25m with a breakeven operating profit.

Our major organic growth investments in the US are progressing as planned. Our recent acquisitions, Freeberg and Hentech, are performing in line with expectations and the on-boarding of both businesses into the Group is progressing well. We continue to actively progress a pipeline of further attractive M&A opportunities aligned to our priority end-market framework.

The Group's balance sheet remains strong, with significant headroom to support both organic and inorganic growth opportunities.

Board changes

As previously announced, Alan Giddins will step down from Chair of the Board and Nomination Committee at the conclusion of today's AGM and will be succeeded by Nick Anderson who joined the Board on 11 March 2026.

Outlook

Based on the positive start to the year, we now expect full year 2026 Group operating profit to be at the top end of the range of current analyst expectations*.

Financial calendar

Hill & Smith's interim results for the six months ending 30 June 2026 are scheduled to be announced on 12 August 2026.

As previously announced, the Group will report in US dollars from the interim results in 2026. The intention is to provide historic Group and divisional performance stated in US dollars ahead of this to support an effective transition.

*The current Company compiled analyst consensus expectation for FY26 is for underlying operating profit of £158.6m with a range of £157.6m to £160.5m.

At the 2025 average exchange rate of $1.32 this translates to a consensus expectation of $209.4m with a range of $208.0m to $211.9m.

For further information, please contact:

Hill & Smith PLC

Rutger Helbing, Chief Executive Officer                         Tel: +44 (0)121 704 7434

Chris McLeish, Chief Financial Officer

MHP

Reg Hoare/Rachel Farrington/Hugo Harris                             Tel: +44 (0)7801 894577

                                                                                          Email: [email protected]

Notes to Editors

Hill & Smith PLC is a leading provider of solutions that enhance the resilience of vital infrastructure and the built environment. The Group employs c.4,700 people, with the majority employed by its autonomous, agile, customer focussed operating businesses based in the US, UK and India. The Group office is in the UK and Hill & Smith PLC is quoted on the London Stock Exchange (LSE: HILS.L).

The Group's operating companies are organised into three divisions:

-       US Engineered Solutions

-       Galvanizing Services

-       UK & India Engineered Solutions

Our US Engineered Solutions businesses provide a range of composite and steel solutions for infrastructure construction including energy transmission & distribution, data centres, waterfront protection, transportation, and other industrial facilities. The division also supplies engineered supports for the water, power and liquid natural gas markets, seismic protection solutions for commercial construction, road work zone safety products and off-grid solar lighting and power solutions.

Our Galvanizing Services operations, based in the US and UK, increase the sustainability and maintenance free life of steel products including structural steelwork, lighting, bridges, and other products for infrastructure and construction end markets.

Our UK Engineered Solutions businesses supply products and services to a range of end markets including transport infrastructure, residential construction, data centres, and other industrial and commercial construction. The division also supplies hostile vehicle mitigation (HVM) and off-grid solar lighting solutions. Our business in India manufactures engineered supports primarily for energy markets.