Half Year Results to 26 July 2026

Results announcement




Results for announcement to the market
Name of issuer BRISCOE GROUP LIMITED
Reporting Period Half-Year – 26 January 2026 to 26 July 2026
Previous Reporting Period Half-Year – 27 January 2027 to 27 July 2025
Currency New Zealand Dollars
Amount (000s) Percentage change
Revenue from continuing operations $374,206 +0.8%
Total Revenue $374,206 +0.8%
Net profit/(loss) from continuing
operations
$ 27,567 -5.9%
Total net profit/(loss) $ 27,567 -5.9%
Final Dividend
Amount per Quoted Equity Security $ 0.10000000
Imputed amount per Quoted Equity
Security
$ 0.03888889
Record Date 25 September 2026
Dividend Payment Date 8 October 2026
Current period Prior comparable period
Net tangible assets per Quoted Equity
Security
$ 1.3458 $ 1.3221
A brief explanation of any of the
figures above necessary to enable the
figures to be understood
Please refer to the Commentary and the unaudited financial
statements released in conjunction with this announcement.

Earnings before interest and tax (EBIT) is a non-GAAP measure.
Authority for this announcement
Name of person

authorised to make
this announcement
Geoff Scowcroft
Contact person for this announcement Rod Duke
Contact phone number + 64 9 815 3737
Contact email address rod.duke@briscoegroup.co.nz
Date of release through MAP

16/09/2026

Unaudited financial statements accompany this announcement.

---

Record First-Half Sales While Advancing Major Strategic Investments

First Half Highlights (26-week period – 26 January 2026 to 26 July 2026):
• Record Group sales of $374.2 million, +0.79%
• Third consecutive quarter of positive sales growth
• Sporting goods sales +2.56%
• Online sales +2.07%, representing 19.60% of Group sales
• Gross profit percentage of 40.85%, a decline of 58 basis points
• Total inventory of $104.8 million, $1.2 million below last year
• New North Island distribution centre open and operational
• New Club Rebel rewards system launched May 2026
• NPAT of $27.6 million
• Interim dividend of 10.0 cents per share

The directors of Briscoe Group Limited (NZX/ASX code: BGP) announce a net profit after tax of $27.6 million for
the half-year ended 26 July 2026, compared with $29.3 million for the corresponding period last year. The half-
year results are unaudited.
Dame Rosanne Meo, Briscoe Group Chair, said, “This is an encouraging first-half result in an environment
where households remain cautious. The positive sales growth and the reduced decline in gross profit
percentage show the business is responding well while we continue to invest in a substantial programme of
change with several important projects moving into operation.”
The directors have resolved to pay an interim dividend of 10.0 cents per share. Books will close to determine
entitlements at 5pm on 25 September 2026, with payment to be made on 8 October 2026. The company’s
dividend policy is to pay out at least 60% of NPAT when calculated on a full-year basis.
Dame Rosanne Meo said, “The Board continues to take a measured approach to capital allocation. The interim
dividend recognises the Group’s ongoing profitability and financial strength, while retaining the flexibility required
to complete the current investment programme and assess future growth opportunities.”
Rod Duke, Group Managing Director, said, “Delivering record first-half sales, alongside a third consecutive
quarter of sales growth is particularly encouraging given the continued caution in household discretionary
spending. The result reflects strong execution by our teams, the enduring appeal of both retail brands and the
benefit of operating across two complementary segments.”
Group sales for the first half reached a record $374.2 million, compared with $371.3 million for the
corresponding period last year. Sporting goods sales increased by $3.6 million to $145.1 million, while
homewares sales decreased by $0.7 million to $229.1 million.
Sporting goods benefited from heightened customer interest generated by major sporting events and successes
during the period, including the FIFA World Cup, Auckland FC’s A-League triumph, the Warriors’ strong NRL
campaign and the All Blacks’ successful home programme in the Nations Championship. Homewares trading
was more subdued. Demand for heating products was affected by a milder start to winter, while luggage sales
were softer as international uncertainty influenced travel activity.
Online sales continued to grow, increasing 2.07%, or $1.5 million, to $73.4 million. Online sales represented
19.60% of Group sales, compared with 19.36% last half-year.

Rod Duke said, “Customers continue to move readily between our online and store channels, and both
businesses delivered online growth during the half.

“The Adobe platform introduced last year gives us a stronger base to improve personalisation, search, customer
communication and the connection between our digital and physical channels.”
Homewares online sales were $48.1 million, an increase of 1.11%, while sporting goods online sales increased
3.96% to $25.3 million.
During the half, the Group launched the next generation of the Club Rebel loyalty programme. The new rewards
structure is designed to provide customers with clearer benefits, encourage more frequent engagement and
enable increasingly relevant and personalised communication. The initial customer response has been very
encouraging.
Gross profit for the period was $152.9 million, compared with $153.8 million last year. Gross profit percentage
was 40.85%, 58 basis points below the 41.43% achieved in the prior corresponding period.
Rod Duke said, “One of the more encouraging developments during the half was the continued moderation in
the rate of gross margin decline. Retail conditions remain highly promotional, but the work undertaken across
sourcing, inventory management, product mix and promotional execution is gaining traction. That progress is
particularly encouraging given the weaker New Zealand dollar and continuing uncertainty across global supply
chains. Our focus remains on improving gross profit while maintaining sales momentum and strong customer
value.”
Expense discipline remained important as the Group absorbed the initial operating costs of the new distribution
centre and continued the SAP S/4HANA upgrade. Store expenses increased marginally by 0.94% despite
higher power, depreciation and occupancy-related costs. Administration expenses increased 3.39%, as
expected, reflecting expenditure required to advance the Group’s major strategic programmes.
The first-half result included $1.9 million of additional operating costs associated with the new distribution centre
and $0.9 million of one-off expenditure relating to the SAP S/4HANA upgrade. A net lease accounting benefit of
$2.0 million before tax from the early surrender of the former distribution centre lease partly offset these costs.
Net finance costs increased by $1.9 million to $7.8 million, compared with $5.9 million last year, reflecting lower
interest income from reduced cash balances and interest rates as well as higher lease interest.
Inventory at the close of the period was $104.8 million, $1.2 million below the $106.0 million held at the same
time last year. Rod Duke said, “The lower inventory position reflects careful management of seasonal stock,
ageing and availability across both trading segments.”
The Group’s balance sheet remains strong, with cash and cash equivalents of $74.4 million at the close of the
period, compared with $119.8 million at the same time last year. Approximately $26 million of creditor payments
included within the trade payables balance were subsequently paid by 31 July 2026.
The distribution centre is now operational, with throughput exceeding the levels achieved at the previous facility.
During the period, the Group invested $31.9 million in capital expenditure, of which $28.1 million related to the
distribution centre project, with the balance invested across store development initiatives, technology platforms
and other operational improvements.
Rod Duke said, “The successful opening of our new North Island distribution centre marks the beginning of the
next phase of our strategic programme. It is the Group’s largest-ever operational investment and provides the
capacity and flexibility to support future growth. Our immediate priority is to complete the commissioning and
then progressively optimise the automation systems. As this work advances, we expect the benefits to become
increasingly visible through better inventory flow, increased replenishment capability, improved productivity and
customer service, and more efficient use of store space.”
The Group also completed two major store development projects during the half at Briscoes Homeware
Henderson and Rebel Sport Westgate. Both stores were converted to the latest-generation retail format,
incorporating enhanced layouts, modern fixture suites, improved customer-service areas and energy-efficient
design features.

Briscoe Group Limited is a company incorporated in New Zealand and registered in Australia as a foreign company under the name Briscoe
Group Australasia Limited (ARBN 619 060 552). It is listed on the NZX and also the Australian Securities Exchange as a foreign exempt
entity. (NZX/ASX code: BGP).

The two projects complete the final major refurbishments across the Group’s West Auckland network and
provide a more consistent store experience across the region.
At Briscoes Homeware Panmure, the Group secured a long-term sublease with Chemist Warehouse for surplus
space within the existing store footprint

Rod Duke said, “Panmure demonstrates how our supply chain investment is creating new options across the
store network. Lower in-store storage requirements allow us to optimise existing space and unlock additional
value from our property assets. As more space becomes available within stores, we are seeing growing
opportunities to improve asset utilisation, increase profitability per square metre and strengthen property returns,
including through partnerships with complementary retailers such as Chemist Warehouse, while preserving
flexibility for future growth.”
The Group expects to continue building momentum in the second half through store development, network
optimisation and strategic property initiatives. Beyond traditional refurbishments and relocations, the Group can
pursue a wider mix of opportunities, including partnerships, selective subleasing, accommodating both brands
within one location and new-format developments. Each initiative is assessed against a clear objective: to lift
sales and profitability per square metre and improve returns across the property portfolio.
Three significant store projects are planned for the second half.
Rebel Sport Colombo Street will be refurbished and reopen as a Christchurch central-city destination combining
the next-generation store concept with selected flagship features. A new Rebel Sport store has just recently
opened at Tower Junction as part of the Group’s strategic transition from Westfield Riccarton.
In Upper Hutt, the existing premises will be substantially reconfigured to provide a refurbished and more efficient
Briscoes Homeware store and introduce Rebel Sport to the catchment for the first time. The project shows how
an existing footprint can accommodate both brands, lifting space productivity and broadening the customer
offer.
Rod Duke said, “The Christchurch and Upper Hutt developments highlight the increasing flexibility of our store
network. Whether creating destination stores, relocating into stronger sites, introducing both brands into a single
location or optimising existing space, we now have a much broader range of opportunities to improve the
customer experience, increase productivity and grow returns from our property portfolio.”
Looking ahead, Rod Duke said, “The pace of the consumer recovery remains difficult to predict and
discretionary spending is likely to remain sensitive to household cost pressures and promotional activity.
However, the business enters the second half with positive sales momentum, an improving gross margin trend
and several significant strategic initiatives now moving from investment into execution.
“With the new distribution centre operating, Club Rebel relaunched, the SAP S/4HANA programme progressing
and our property optimisation strategy advancing, we are beginning to see multiple opportunities emerge to
improve productivity, strengthen customer engagement and increase profitability per square metre.
“While the economic environment remains challenging, we believe Briscoe Group is increasingly well positioned
to benefit from any improvement in consumer conditions. Our focus remains on sustaining sales momentum,
rebuilding gross profit percentage and converting these investments into measurable operational and financial
gains that strengthen the Group’s long-term earnings capacity.

“I also want to thank all our team across the Group. They have managed a significant amount of change while
continuing to look after our customers and deliver the day-to-day performance of the business. Their
commitment and adaptability have been a major part of the progress we have made during the half.”
Wednesday 16 September 2026
Contact for enquiries:
Rod Duke
Group Managing Director
Tel: +64 9 815 3737

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HY27 HALF YEAR ADDENDUM
1
HalfYear
Addendum
26 WEEK PERIOD ENDED 26JULY 2026

HY27 HALF YEAR ADDENDUM
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Highlights
Sales
Gross Profit Margin %
Net Profit After Tax
Balance Sheet
Our Team
Online Platform Investment
VIP Clubs
Supply Chain Transformation
Sustainability
Strategy Investment on Track
Investment Value Delivery
Financial Summary
Positive Impact on Local Communities
HY27 HALF YEAR ADDENDUM
Contents
2

HY27 HALF YEAR ADDENDUM
3
Highlights
Record sales while
advancing strategic
initiatives.
The business enters the
second half with sales
momentum, a
moderating decline in
gross margin andclear
opportunities
to lift productivity
and profitability per
square metre.
•
Online sales $73.4m, up 2.07%
•
Online mix increased to 19.60%
•
Both brands delivered
onlinegrowth
Digital Performance
•
Gross margin 40.85%
•
Decline moderated to 58 bps
despite continued New Zealand
dollar weakness
•
Ongoing sourcing, inventory
andpromotional initiatives
Gross Profit
Performance
•
Record Group sales
$374.2m, up0.79%
•
Third consecutive quarter
of positivesales growth
•
Sporting Goods sales up 2.56%
Sales
•
Inventory $104.8m, down $1.2m
•
Cash $74.4m at period end
•
Capex spend $31.9m
Strong Balance
Sheet
•
NPAT $27.6m
•
Strategic investment costs
largelyabsorbed
•
Lease accounting benefit booked
•
Strong cost control discipline
•
Interim dividend 10 cps
NPAT Performance
•
New North Island DC operational –
ontime and under budget
•
Club Rebel rewards relaunched
•
SAP S4HANA upgrade progressing
•
Store and property optimisation
programme building momentum
Strategic Initiatives
Contributing to
Profitability

HY27 HALF YEAR ADDENDUM
4
Sales
Record sales achieved for the Group
despite cautious consumer spending.
•Record Group sales of $374.2 million, +$2.9 million
on last year
•Third consecutive quarter of positive Group sales growth
•Online sales growth +2.1% to $73.4 million, 19.6% of Group
sales
•Sporting Goods sales capitalised onmajor sporting events
and NZ teams' successes

HY27 HALF YEAR ADDENDUM
5
Gross Profit Margin %
Gross margins remain under pressure fromchallenging market conditions
and a weaker NewZealanddollar,but rate of decline continues to slow.

HY27 HALF YEAR ADDENDUM
6
Net Profit After Tax (NPAT)
•Costs incurred advancing
strategic initiatives
impact NPAT
•Lower interest income from
lower interest rates and
reduced cash balances
•Accounting benefit booked
for early surrender of former
distribution centre lease
•Strong cost discipline despite
ongoing cost pressures
across many areas
•Strategic Investments
account for year-on-year
profit variance
Solid NPAT performance with continued
investment in a challenging retail
environment.

HY27 HALF YEAR ADDENDUM
7
Balance Sheet
•Focused inventory control continues to deliver benefits
•Healthy cash position with minimal use of funding facility
expected before year-end to support seasonal inventory
build ahead of peak trading
•Capital expenditure dominated by the investment in the
new distribution centre project which opened on time
andunder budget

HY27 HALF YEAR ADDENDUM
8
Sustained investment in our people, systems
and ways of working is buildingcapability,
competence and confidence across the team.
Team Development
Leadership development has stepped up a gear. Three new cohorts
commenced our Leadership Programme, redesigned and now delivered
fully in-house —faster to complete and rated more highly by participants.
New Change 360 surveys will track how leadership growth translates into
results long after the programme ends.
DC Capability
Our North Island Distribution Centre team has grown as the site scales up,
and KNAPP automation is creating broader, more enriching roles. Team
members are building genuinely new skills alongside automated systems —
strengthening both individual careers and our future supply chain.
Health & Safety
Automation is reshaping work at the Distribution Centre. New operating
processes, hands-on training and safety controls are being embedded
alongside the technology through 2026 and into early 2027, helping our team
transitioninto the new environment safely and with confidence.
Retention remains a standout across the Group. Stable employment, genuine
development opportunities and engaging work continue to attract, retain and engage
our people. That continuity protects the customer experience across BriscoesHomeware
and Rebel Sport and reinforces our position as a great place to work.
Technology Skill Building
AI is changing how work gets done, and our Support Office teams are proactively
embracing the opportunity. Targetedprogrammesare equipping people to rethink old
processes, remove friction and free up capacity for the decisions, ideas and insights
that create real value — building a more adaptable, forward-looking culture.
Our Team
Retention

HY27 HALF YEAR ADDENDUM
9
We’ve dispatched 1,730,000 units!
Improvements in
online fulfilment
3,300+ same-day
deliveries made
across the country
Online Platform Investment
The first half of the year focused on delivering the new Rebel Sport loyalty experience,
managed through customers' online accounts. This gives customers greater freedom
and flexibility to manage their experience with us.We also introduced basket-building
tacticsto drive demand, including new promotions and cross-sell initiatives on the site.
Looking ahead, online platform investment is heavily focused on AI enablement. This
includes new agentic shopping features, with an AI shopping assistant planned for
release later this half, alongside significant work to improve AI-driven discoverability
and automate processes. Together, these initiatives will create a significantly better
online customer experience.
NEW OVERSIZED-DELIVERY
PARTNER LAUNCHED (FLIWAY)
630kTOTAL
ONLINE ORDERS
TOTAL DISPATCHED
SALES UP 2%
LABOUR SPEND
DOWN 12%

HY27 HALF YEAR ADDENDUM
10
VIP Clubs
Our clubs are a long-term strategic and
competitive advantage, providing
significant reach across New Zealand
and a highly engaged customer base.
We will continue to invest in them to
increase customer frequency,
engagement and lifetime value.
Club Rebel Rewards has made a strong
start since launching in May, with
positive early member engagement
and strong commercial growth from the
club.
We are now focused on enhancing the
programme’s value and relevance
through an even stronger member
experience.
In parallel, we are progressing the next
evolution of Briscoes Club, with more
personalised and rewarding
experiences for customers.
HY27
TOTAL DATABASE
1.19m +5.0%
MEMBER FREQUENCY
3.8 vs 3.7non-
members
MEMBER SHARE OF SALES
+2.3% YOY
HY27
TOTAL DATABASE
1.13m +8.1%
MEMBER FREQUENCY
3.3 vs 2.0 non-
members
MEMBER SHARE OF SALES
+6.8% YOY

HY27 HALF YEAR ADDENDUM
11
•State-of-the-art facility and equipment.
•Reduced stock level in stores by holding
more in the DC and regularly replenishing
our stores in line with demand.
•Improved on-shelf availability and shorter
online fulfilment times.
•Stronger full-price sales and corresponding
reduction in lower-ma
rgin clearance sales.
•An improvedproduct range and potential for
newproduct categories in stores.
In progress 2026
Benefits for our Team & Customers
•Our automation vendor mechanical and
electrical teams have completed the
construction phase.
•Our Warehouse Management System,
Warehouse Control System and Order
Management Systems are now integrated
allowing store replenishment and online
orders to be fulfilled from the DC.
•Our software vendors and Briscoe Group
supply chain teams are busy testing all
automation process flows.
•We begin a staged ramp-up of Rebel Sport
product in September.
•The Drury DC started operations in May.
•Our stock and staff moved from the old
siteto the new site during April.
•Stock flow to stores is now planned on
target weeks of cover to improve
availability and reduce overstocking.
•Th
e automation build has been
completed, and commissioning and
testing are in the final stages to support
our go-liv
e as planned in September.
•The ramp-up plan for our key supplier
stocks to arrive during Q4 is in place.
•Overall the transformation continues to
progress on schedule and within budget.
What we have completed
Supply Chain
Transformation
We’v
e achieved a significant milestone
with the opening of our new Drury
Distribution Centre. Manual operations are
live, and our automation remains on track
for go-live in September. Importantly, this
major programme remains on track and
under budget.

HY27 HALF YEAR ADDENDUM
12
The emissions reduction and financial benefits of the new
contract are expected to begin in Q4 when the contract
commences.
Our new distribution centrecommenced operations with a fully
electric forklift fleet, marking the complete phase-out of LPG
forkliftsas outlined in our Scope 1 emissions reduction roadmap.
Other progress against our strategy includes:
•Nespresso capsule recycling programme performing ahead
of target, with 7,353 kg collected and monthly collection
volumes increasing by 246% since January 2026.
•10,000 blankets donated to communities in need through our
Briscoes Give a Blanket campaign.
•23 community and sporting groups supported through Rebel
Sport Grants,helping more Kiwis get involved in sport.
•More than 10,200 balls delivered to community and sporting
groups through the Pass it Forward Buy a Ball, Give a Ball
programme.
•Steps taken to strengthen our human rights approach ahead
of incoming Modern Slavery Reporting requirements.
We've made solid progress
in the first halfagainst our
sustainability targets.
Performance is being tracked
consistentlythrough social and
environmental metrics, enabling
clearer oversight of progress,
more informed decision-making,
and a stronger focus on the
sustainability issues most
material to the Group.
Signed agreement with 100% certified renewable
electricity provider for our entire store network,
marking a key milestone in our Scope 2 emissions
reduction roadmap.
Sustainability
Our Steps to a
Better Tomorrow

HY27 HALF YEAR ADDENDUM
13
LONG TERM GROWTH
ACCELERATION
Online platform upgrade.
Optimisationof profit
returns on store space.
Multi-year accelerated
store refurbishment plan
being built.
RETAIL EXPERIENCE
EVOLUTION
Flagship store concepts.
Electronic Shelf Labels (ESL).
Rebel Sport & Briscoes
Homeware product
range refinement.
Strongercross-sell &
up-sell focus.
Loyalty evolution.
SUPPLY CHAIN
TRANSFORMATION
New North Island
Distribution Centre (DC).
Improved inventory
allocation and
replenishment.
Enhanced Rebel Sport
inventory efficiency.
BUILDING BLOCKS
Scalable technology
architecture.
Strengthened people
capability and capacity.
Automation and use of
AI to simplify processes.
Increase positive impact
through sustainability.
•Online platform
optimisation continues to
improve the online
customer experience.
•Store network review
completed to identify
opportunities.
GROUP STRATEGY 2024 – 2026
•REBEL X flagship store at
Panmureperforming well
ahead of the wider store
network.
•Rebel Sport loyalty
programmelaunched at
the start of May.
•Initial customer response
has exceeded
expectations.
•Building construction
completed andthe
manual pick operation
for Briscoes now
operating at levels above
old distribution centre.
•Automation ramp-up
commenced.
•ERP upgradeto
SAP S/4HANAunder way.
•Over 40 team members
completed Leadership
Development Programme.
•Increasing use of AI
technology across super-
user groups in the business.
Delivered
in First-Half to
July 2026:
GOAL:
Deliver the
best retail
experience in
New Zealand
•PanmureBriscoes-
Chemist Warehouse
subleaseagreed. Opening
planned for end of 2026.
•Briscoes Upper Hutt store
footprint to be
reconfigured to introduce
a new Rebel Sport store.
•Briscoes flagship store
design to be completed
by end of Q3.
•Monitoring changes in
customer behaviourfrom
new Club Rebel loyalty
scheme.
•Automation volume
ramp-up completed by
end of Q4.
•New replenishment
modules for local
replenishment to go live
in Q4.
•New GM People joining
the business.
•Completion of SAP
S/4HANA upgrade.
Key
Deliverables
for Year-End
January 2027:
Strategy
Investment
on Track

HY27 HALF YEAR ADDENDUM
14
Strategic Investment
Moving into Value Delivery
As the period of elevated strategic investment nears completion, our focus is
shifting to realising the operational, customer and financial returns from the
capabilities we have built.
Our proven business model and world-class team continue to deliver trading and strategic progress in parallel. As the investmentphase
matures, the capabilities we have built are expected to support stronger productivity, profitability and sustainable long-term growth.
CAPABILITY BUILT
Economic backdrop
The economy has yet to show consistent signs
of a sustained recovery.
Strong business health
Customer promoter scores are at record levels,
team engagement is in the top quartile, and
inventory is well controlled and of high quality.
Capabilities in place
As the three-year strategic cycle nears completion,
the focus is moving from delivering capability to
realising returns.
LOOKING FORWARD: UNLOCKING VALUE
People and Technology
Improve organisational productivity through
stronger team capability, technology,
automation and simplified processes.
Supply Chain Returns
Realiseproductivity, stock availability and
inventory efficiency benefits from the new Drury
DC and replenishment capability.
Customer Value
Build on the response to Club Rebel to increase
frequency, engagement and lifetime value,
while assessing the opportunity for Briscoes.
Store Space Returns
Increase sales productivity and profitability
through refurbishments, footprint optimisation
and new space opportunities.

HY27 HALF YEAR ADDENDUM
15
1. NZ IFRS 16 Leases first year of adoption.
2. Final dividend of 12.5cps cancelled as a result ofCovid-19 pandemic.
3. Includes special dividends of 6cps.
4. Includes $26 million of creditor payments made on 31 January 2023.
5. Includes $18 million of creditor payments made on 31 July 2023.
6. Includes $20 million of creditor payments made on 31 January 2024.
7. Includes $23 million of creditor payments made by 31 July 2024.
8. Excludes $7.4 million one-off non-cash tax expense adjustment.
9. Includes $30 million of creditor payments made by 31 January 2025.
10. Includes $22 million of creditor payments made by 31 July 2025.
11. Includes $32 million of creditor payments made by 31 January 2026.
12. Includes $26 million of creditor payments made by 31 July 2026.
MetricsHY Jul 21HY Jul 22HY Jul 23HY Jul 24HY Jul 25HY Jul 26FY Jan 20
1.
FY Jan 21FY Jan 22FY Jan 23FY Jan 24
FY Jan 25FY Jan 26
Homeware Revenue- $000222,628228,739229,391230,027
229,780 229,088
410,908439,234460,887487,501490,116489,810496,773
Sporting Goods Revenue- $000135,793139,207139,846142,051
141,489 145,118
242,109262,563283,563298,353301,837301,659302,058
Group TotalRevenue- $000358,421367,946369,237372,078
371,269 374,206
653,017701,797744,450785,854791,953791,469798,831
Online Mixof Sales- %16.2%19.4%18.3%18.8%
19.4% 19.6%
11.3%18.8%21.5%19.0%18.7%19.7%20.0%
Group Gross Margin - $000166,663167,937161,464159,865
153,803 152,865
257,502307,116340,642345,922335,762319,541313,355
Group Gross Margin - %46.5%45.6%43.7%43.0%
41.4% 40.9%
39.4%43.8%45.8%44.0%42.4%40.4%39.2%
Group EBIT - $00073,04070,01664,21760,49746,948
46,466
97,223115,886136,468135,494126,296
104,401
95,776
Group EBIT - %to Sales20.4%19.0%17.4%16.3%
12.6% 12.4%
14.9%16.5%18.3%17.2%15.9%13.2%12.0%
Group NPAT - $00047,46145,62042,75040,584
8
29,305 27,567
62,58373,19987,90988,43784,221
68,008
8
59,217
Group NPAT - %to Sales13.2%12.4%11.6%10.9%
7.9% 7.4%
9.6%10.4%11.8%11.3%10.6%8.6%7.4%
Free CashFlow-$m
(Operating Cash Flow less Capex)
33.238.922.2
3.09.8 (23.9)
60.381.176.6128.0
.
108.3
51.6
52.0
Dividends PerShare- cps11.512.012.512.5
10.0 10.0
8.5
2.
28.5
3
27.028.029.022.520.0
Earnings PerShare- cps21.320.519.2
18.2
8
13.2 12.4
28.232.939.539.737.8
30.5
8
26.6
Net Debt /CashPosition- $m93.997.6126.9
5
131.8
7
119.8
10
74.4¹²
67.4100.4102.5149.9
4
175.4
6
142.4
9
130.3¹¹
Inventory Turnover - X p.a.
(COGS divided by average inventory)
4.74.43.83.74.1
4.6
5.1
Financial Summary

HY27 HALF YEAR ADDENDUM
16
Positive Impact on Local Communities
"We would like to extend our
sincere thanks once again
for your generous
sponsorship of our
Kaupapa, and for
supporting our future
rangatahievents through
the Pass It Forward balls."
"We are extremely grateful for
the phenomenal support of
Briscoe Group staff, suppliers
and customers who both
fundraise as well as raise
awareness for Cure Kids and
the vital research we fund."
"My name's Sheana. I'm a
Tania Dalton Foundation
Scholarship recipient,
supported by Rebel Sport.
The scholarship has taken a
lot of financial stress off my
family, and I think it is so cool
that Rebel Sport is able to
provide that (support)."
“Thank you so much
for your generous
support of the “Buy a
Blanket, Give a
Blanket” campaign.
Through our
partnership with
Briscoes, something
truly meaningful has
been made possible.
These blankets have
not only provided
much-needed warmth
during the colder
months, but have also
offered comfort,
kindness, and a sense
of being cared for,
reminding people that
they are seen, valued,
and not alone." -
Salvation Army.
"Our partnership with Briscoes has been a powerful
example of how (product) returns can be transformed
into meaningful community impact. This collaboration
has not only supported waste reduction, but it has
also created positive social outcomes by resourcing
schools, charities, and community initiatives."

---

Briscoe Group Limited
Financial Statements
for the 26 week period ended 26 July 2026
Authorisation for Issue
The Board of Directors authorised the issue of these Consolidated Interim Financial Statements on
15 September 2026.
Approval by Directors
The Directors are pleased to present the Consolidated Interim Financial Statements for Briscoe Group
Limited for the 26 week period ended 26 July 2026. (Comparative period is for the 26 week period ended
27 July 2025).
15 September 2026
For and on behalf of the Board of Directors

Briscoe Group Limited
Consolidated Income Statement
For the 26 week period ended 26 July 2026 (unaudited)
-1-
26 Week Period 26 Week Period
Ended 26 July 2026Ended 27 July 2025
Unaudited Unaudited
Notes
$000 $000
Sales revenue374,206371,269
Cost of goods sold (221,341
)

(217,466)
Gross profit 152,865 153,803
Other income 2,827 301
Store expenses (64,269
)

(63,672)
Administration expenses (44,957
)

(43,484)
Earnings before interest and tax
46,466 46,948
Finance income7751,856
Finance costs(8,563
)(7,784)
Net finance income/(costs) (7,78
8)

(5,928)
Profit before income tax38,67841,020
Income tax expense (11,111
)

(11,715)
Net profit attributable to shareholders5 27,567


29,305
Earnings per share for profit attributable to shareholders:
Basic earnings per share (cents) 12.37 13.15
Diluted earnings per share (cents)12.35 13.13
The above consolidated income statement should be read in conjunction with the accompanying notes.

Briscoe Group Limited
Consolidated Statement of Comprehensive Income
For the 26 week period ended 26 July 2026 (unaudited)
-2-
26 Week Period 26 Week Period
Ended 26 July 2026Ended 27 July 2025
Unaudited Unaudited
Notes$000 $000
Net profit attributable to shareholders
27,567 29,305
Other comprehensive income:
Items that will not be subsequently reclassified to profit or loss:
Change in value of investment in equity securities
8(9,890)(7,921)
Items that may be subsequently reclassified to profit or loss:
Fair value gain/(loss) taken to the cash flow hedge reserve1,771 (1,762)
Deferred tax on fair value (gain)/loss taken to cash flow hedge reserve(496)493
Total other comprehensive income(8,615)(9,190)
Total comprehensive income attributable to shareholders 18,952 20,115
The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.

Briscoe Group Limited
Consolidated Balance Sheet
As at 26 July 2026 (unaudited)
-3-
26 July 202627 July 202525 January 2026
Unaudited Unaudited Audited
Notes$000 $000 $000
ASSETS
Current assets
Cash and cash equivalents74,441119,826130,325
Trade and other receivables5,5965,2706,740
Inventories104,758105,97690,828
Derivative financial instruments1,324553739
Total current assets186,119231,625228,632
Non-current assets
Property, plant and equipment7238,461185,788214,380
Intangible assets2,4122,1182,308
Right-of-use assets230,833228,246226,485
Taxation receivable2,97918-
Deferred tax7,40011,25412,062
Investment in equity securities83,31212,48213,202
Total non-current assets485,397439,906468,437
TOTAL ASSETS671,516671,531697,069
LIABILITIES
Current liabilities
Trade and other payables88,67196,516108,033
Lease liabilities19,94320,11220,482
Taxation payable--5,350
Derivative financial instruments-992529
Total current liabilities108,614117,620134,394
Non-current liabilities
Trade and other payables1,4611,4761,480
Lease liabilities259,209255,758255,406
Total non-current liabilities260,670257,234256,886
TOTAL LIABILITIES
369,284374,854391,280
NET ASSETS302,232296,677305,789
EQUITY
Share capital1062,43562,43562,435
Cash flow hedge reserve1,018(317)183
Equity-based remuneration reserve8758131,004
Other reserves(84,541)(75,371)(74,651)
Retained earnings322,445309,117316,818
TOTAL EQUITY
302,232296,677305,789
The above consolidated balance sheet should be read in conjunction with the accompanying notes.

Briscoe Group Limited
Consolidated Statement of Cash Flows
For the 26 week period ended 26 July 2026 (unaudited)
-4-
26 Week Period 26 Week Period
Ended 26 July 2026Ended 27 July 2025
Unaudited Unaudited
Notes$000 $000
OPERATING ACTIVITIES
Cash was provided from
Receipts from customers 374,975 372,183
Rent received 88 83
Interest received9252,097
Insurance recovery12123
376,000 374,486
Cash was applied to
Payments to suppliers
(283,616) (252,973)
Payments to employees (50,516) (50,984)
Interest paid(8,563)(7,783)
Net GST paid (10,220) (20,939)
Income tax paid (15,175) (17,176)
(368,090) (349,855)
Net cash inflows from operating activities 7,910

24,631
INVESTING ACTIVITIES
Cash was provided from
Proceeds from sale of property, plant and equipment3217
32 17
Cash was applied to
Purchase of property, plant and equipment(31,082)(14,374)
Purchase of intangible assets (776) (479)
(31,858) (14,853)
Net cash outflows from investing activities (31,826) (14,836)
FINANCING ACTIVITIES
Cash was provided from
Net proceeds from borrowings9--
- -
Cash was applied to
Dividends paid11(22,279)(22,279)
Lease liabilities payments(9,735)(9,990)
(32,014)

(32,269)
Net cash outflows from financing activities (32,014) (32,269)
Net decrease in cash and cash equivalents (55,930) (22,474)
Cash and cash equivalents at beginning of period 130,325 142,401
Foreign cash balance cash flow hedge adjustment 46 (101)
CASH AND CASH EQUIVALENTS AT END OF PERIOD 74,441 119,826
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.

Briscoe Group Limited
Consolidated Statement of Changes in Equity
For the 26 week period ended 26 July 2026 (unaudited)
-5-
.
NotesShare Cash flowEquity-BasedOtherRetained Total
Capital HedgeRemunerationReservesEarnings Equity
ReserveReserve
UnauditedUnauditedUnauditedUnauditedUnauditedUnaudited
$000 $000 $000 $000 $000 $000
Balance at 26 January 202562,4352,250925(67,450)301,635299,795
Transfer of hedging gains upon settlement of forward
contracts net of tax-(1,298)---(1,298)
Net profit attributable to shareholders for the period----29,30529,305
Other comprehensive income:
Change in value of investment in equity securities8---(7,921)-(7,921)
Net fair value loss taken through cash flow hedge reserve -(1,269) - - -(1,269)
Total comprehensive income for the period-(1,269)-(7,921)29,30520,115
Transactions with owners:
Dividends paid11----(22,279)(22,279)
Performance rights charged to income statement--273--273
Performance rights vested / lapsed10--(456)-456 -
Deferred tax on equity-based remuneration--71-- 71
Balance at 27 July 2025 62,435 (317) 813

(75,371) 309,117 296,677
Transfer of hedging gains upon settlement of forward
contracts net of tax-(1,143)---(1,143)
Net profit attributable to shareholders for the period----29,91229,912
Other comprehensive income:
Change in value of investment in equity securities8---720-720
Net fair value gain taken through cash flow hedge reserve -1,643 - - -1,643
Total comprehensive income for the period-1,643-72029,91232,275
Transactions with owners:
Dividends paid - - - - (22,279) (22,279)
Performance rights charged to income statement--297--297
Performance rights vested / lapsed - - (68)- 68 -
Deferred tax on equity-based remuneration - - (38) - - (38)
Balance at 25 January 202662,4351831,004(74,651)316,818305,789
Transfer of hedging gains upon settlement of forward
contracts net of tax-(440)---(440)
Net profit attributable to shareholders for the period----27,56727,567
Other comprehensive income:
Change in value of investment in equity securities8---(9,890)-(9,890)
Net fair value gain taken through cash flow hedge reserve - 1,275 - - - 1,275
Total comprehensive income for the period - 1,275 - (9,890) 27,567 18,952
Transactions with owners:
Dividends paid11 - - - - (22,279) (22,279)
Performance rights charged to income statement--282--282
Performance rights vested / lapsed10- - (339) - 339 -
Deferred tax on equity-based remuneration - -(72) --(72)
Balance at 26 July 202662,4351,018875(84,541)322,445302,232
The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 26 July 2026 (unaudited)
-6-
1. Reporting Entity
Briscoe Group Limited (the Company) and its subsidiaries (together the Group) is a retailer of homeware and
sporting goods. The Company is a limited liability company incorporated and domiciled in New Zealand and
is listed on the New Zealand Stock Exchange (NZX). Briscoe Group Limited is registered under the
Companies Act 1993 and is an FMC Reporting Entity under Part 7 of the Financial Markets Conduct Act
2013. The address of its registered office is 1 Taylors Road, Morningside, Auckland 1025, New Zealand. The
Company is registered in Australia as a foreign company under the name Briscoe Group Australasia Limited
and is listed on the Australian Securities Exchange as a foreign exempt entity. (NZX / ASX code: BGP).
2. Basis of Preparation of Financial Statements
These unaudited consolidated condensed interim financial statementshave
been prepared in accordance with New Zealand Generally Accepted Accounting Practice (GAAP) and
comply with the requirements of International Accounting Standard (IAS) 34 Interim Financial Reporting and
with New Zealand Equivalent to International Accounting Standard (NZ IAS) 34 Interim Financial Reporting
and the NZX Main Board Listing Rules. The Group is designated as a for-profit entity for financial reporting
purposes.
The interim financial statements do not include all the notes of the type normally included in an annual
financial report. Accordingly, these interim financial statements should be read in conjunction with the
audited consolidated financial statements for the period ended 25 January 2026 and any public
announcements made by Briscoe Group Limited during the interim reporting period and up to the date of
these interim financial statements.
The interim financial statements are in respect of the 26-week period from 26 January 2026 to 26 July 2026.
The comparative period is in respect of the 26-week period from 27 January 2025 to 27 July 2025. The year-
end balance date will be 31 January 2027 and full financial statements will cover the 53-week period from 26
January 2026 to 31 January 2027. The Group operates on a weekly trading and reporting cycle resulting in
52-weeks for most years with a 53-week year occurring once every 5-6 years.
The preparation of the interim financial statements requires management to make judgements, estimates
and assumptions that affect the reported amounts in the interim financial statements. The estimates and
underlying assumptions are based on historical experience and adjusted for current market conditions and
other factors, including expectations of future events that are considered to be reasonable under the
circumstances. If outcomes within the next financial period are significantly different from assumptions, this
could result in adjustments to carrying amounts of the asset or liability affected. The same judgements,
estimates and assumptions included in the notes to the financial statements for the full year period ended 25
January 2026 have been applied to these interim financial statements.
3. Accounting Policies
The interim financial statements of the Group for the 26-week period ended 26 July 2026 have been
prepared using the same accounting policies and methods of computations as, and should be read in
full
year period ended 25 January 2026.
4. Seasonality
net profits typically
achieved in the second half of the financial year as a result of additional sales generated during the
Christmas trading period.

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 26 July 2026 (unaudited)
-7-
5. Segment Information
The Group is organised into two reportable operating segments, namely homeware and sporting goods,
reflecting the different retail sectors within which the Group operates. The Company is considered not to be a
reportable operating segment. Eliminations and unallocated amounts as shown below are primarily
attributable to the Company. There were no inter-segment sales in the period (2025: Nil).
Information in relation to the operations of each reportable operating segment is included below. Segment
profit represents the profit earned by each segment and is extracted from the income statements associated
with the two trading subsidiary companies, Briscoes (New Zealand) Limited and The Sports Authority Limited
(trading as Rebel Sport). Earnings before interest and tax (EBIT) is a non-GAAP measure and used to
assess the performance of the operating segments. This measure should not be viewed in isolation, nor
considered as a substitute for measures reported in accordance with NZ IFRS. This non-GAAP financial
measure may not be comparable to similarly titled amounts reported by other companies.
For the period ended 26 July 2026
HomewareSporting
goods

Eliminations/
unallocated
Total Group
$000$000$000$000
INCOME STATEMENT
Sales revenue229,088 145,118-374,206
Cost of goods sold(136,775) (84,566)-(221,341)
Gross profit92,313 60,552-152,865
Earnings before interest and tax 24,168 20,4781,82046,466
Finance income220 370185775
Finance costs(5,227) (3,320)(16)(8,563)
Net finance income / (costs)(5,007) (2,950)169(7,788)
Income tax expense(5,556) (4,908)(647)(11,111)
Net profit after tax13,605 12,6201,34227,567
BALANCE SHEET
Assets434,716 267,819 (31,019)
1.
671,516
Liabilities283,001 148,795(62,512)369,284
OTHER SEGMENTAL ITEMS
Acquisitions of property, plant and equipment,
intangibles and investments29,774 2,084-31,858
Depreciation and amortisation expense12,095 6,688-18,783
$000
1. Investment in equity securities 6,096
Intercompany eliminations(69,326)
Other balances 32,211
(31,019)

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 26 July 2026 (unaudited)
-8-
For the period ended 27 July 2025
HomewareSporting
goods
Eliminations/
unallocated
Total Group
$000$000$000$000
INCOME STATEMENT
Sales revenue229,780 141,489-371,269
Cost of goods sold(135,535) (81,931)-(217,466)
Gross profit94,245 59,558-153,803
Earnings before interest and tax25,459 19,6921,79746,948
Finance income432 1,209 2151,856
Finance costs(5,232) (2,550)(2)(7,784)
Net finance income / (costs)(4,800) (1,341)213(5,928)
Income tax expense(5,920) (5,139)(656)(11,715)
Net profit after tax14,739 13,2121,35429,305
BALANCE SHEET
Assets400,222 254,68416,625
1.
671,531
Liabilities266,723 129,108(20,977)374,854
OTHER SEGMENTAL ITEMS
Acquisitions of property, plant and equipment,
intangibles and investments12,921 1,932-14,853
Depreciation and amortisation expense11,662 6,350-18,012
$000
1. Investment in equity securities 15,265
Intercompany eliminations(28,297)
Other balances29,657
16,625
6. Expenses
Profit before income tax includes the following specific expenses:
26 Week Period
Ended 26 July 2026
$000
26 Week Period
Ended 27 July 2025
$000
Depreciation of property, plant and equipment 6,7356,052
Amortisation of software costs672690
Depreciation of right-of-use assets11,37611,270
Interest on leases8,5477,782
Operating lease rental expense1318
Wages, salaries and other short-term benefits50,54450,919
Equity-based remuneration282273

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 26 July 2026 (unaudited)
-9-
7. Property, Plant and Equipment
Acquisitions and disposals
During the 26-week period ended 26 July 2026, the Group acquired property, plant and equipment with a
total cost of $31,082,422 (2025: $14,373,503). Of this total cost $28,142,000 (2025: $10,370,000) related to
Distribution Centre project. Property, plant and equipment with a net book value of
$266,099 (2025: $54,484) were disposed of during the 26-week period ended 26 July 2026.
8. Investment in Equity Securities
Briscoe Group Limited holds 1,920,299 shares in KMD Brands Limited (2025: 48,007,465 shares on a pre-
consolidation basis), representing a 2.67% ownership interest as at 26 July 2026 (2025: 6.75%).
On 22 April 2026, KMD Brands Limited completed an equity raising comprising a placement and entitlement
offer. The Group did not subscribe for any new shares and, as a result of the new shares issued, its
ownership interest was diluted from 6.75% to 2.67%. No shares were disposed of by the Group.
On 2 July 2026, KMD Brands Limited completed a 1-for-25 share consolidation. Accordingly, the Group's
holding was consolidated from 48,007,465 shares to 1,920,299 shares, with no substantive change to the
Group's ownership interest arising from the consolidation.
These shares are equity investments, quoted in the active market, which the Group has elected to designate
as a financial asset at fair value through other comprehensive income (FVOCI). An adjustment was made at
period end to reflect the fair value of these shares as at 26 July 2026.
1.

$000
At 26 January 2025 20,403
Additions -
Change in value credited to other reserves (7,921)
At 27 July 2025 12,482
Additions -
Change in value credited to other reserves 720
At 25 January 2026 13,202
Additions -
Change in value credited to other reserves (9,890)
At 26 July 20263,312
1. Fair value determined to be $1.725 ($2025: $0.26) per share as per NZX closing price of KMD Brands Limited
as at 24 July 2026 (2025: 25 July 2025), Level 1 in fair value hierarchy. The current year closing share price reflects
the impact of the share consolidation undertaken by KMD Brands Limited during the period.
9.Interest Bearing Liabilities
There were no interest bearing liabilities as at 26 July 2026 (2025: Nil).

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 26 July 2026 (unaudited)
-10-
10.Share Capital
Authorised SharesShare capital
No. of Shares$000
At 26 January 2025 222,790,012 62,435
Issue of ordinary shares during the period:
Vesting of performance rights- -
At 27 July 2025222,790,01262,435
Issue of ordinary shares during the period:
Vesting of performance rights--
At 25 January 2026 222,790,012 62,435
Issue of ordinary shares during the period:
Vesting of performance rights
--
At 26 July 2026 222,790,012 62,435
11. Dividends
Period endedPeriod endedPeriod endedPeriod ended
26 July 202627 July 202526 July 202627 July 2025
Cents per shareCents per share$000$000
Final dividend for the period ended 25 January
2026

10.00 -

22,279

-
Final dividend for the period ended 26 January
2025 -

10.00 -

22,279
10.00 10.00

22,279

22,279
All dividends paid were fully imputed. Supplementary dividends of $153,646 (2025: $151,181) were provided to
shareholders not tax resident in New Zealand, for which the Group received a Foreign Investor Tax Credit entitlement.
On 15 September 2026 the Directors resolved to provide for an interim dividend to be paid in respect of the period
ended 31 January 2027. The dividend will be paid at the rate of 10.00 cents per share for all shares on issue as at
25 September 2026, with full imputation credits attached.
12. Fair Value Measurements of Financial Instruments
instruments to hedge certain risk exposures.
The consolidated interim financial statements do not include all financial risk management information and
annual financial statements for the period ending 25 January 2026. There have been no changes in the risk
management policies since year end.

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 26 July 2026 (unaudited)
-11-
Based on NZ IFRS 13 Fair Value Measurement, the fair value of each financial instrument is categorised in
its entirety based on the lowest level of input that is significant to that fair value measurement. The levels are
defined as follows:
Level 1: Quoted prices (unadjusted in active market for identical assets and liabilities);
Level 2: Inputs other than quoted prices included within level 1 that are observable for the asset or liability,
either directly (that is, as prices) or indirectly (that is, derived from prices);
Level 3: Inputs for the asset or liability, that are not based on observable market data (that is unobservable
inputs).
The financial instruments held by the Group that are measured at fair value are; over-the-counter derivatives
(foreign exchange contracts) and an investment in equity securities. The derivatives have been determined
to be within level 2 (for the purposes of NZ IFRS 13) of the fair value hierarchy as all significant inputs
required to ascertain the fair values are observable. The investment in equity securities is determined to be
within level 1 as quoted prices are available from an active equities market for identical securities. There
were no transfers between levels 1 and 2 during the period.
There were no changes in valuation techniques during the period.
The following methods and assumptions were used to estimate the fair values for each class of financial
instrument.
Trade debtors, trade creditors, related party payables and bank balances
The carrying value of these items is equivalent to their fair value.
Derivative financial instruments
Derivative financial instruments comprise of forward foreign exchange contracts which have been fair valued
using market forward foreign exchange rates at period end.
Investment in equity securities
The investment in equity securities has been fair valued using equity prices quoted on market at period end.
are measured at fair value at 26 July
2026:
As at
26 July 2026
As at
27 July 2025
As at
25 January 2026
$000$000$000
Assets
Derivative financial instruments1,324553739
Investment in equity securities3,31212,48213,202
Total Assets4,63613,03513,941
Liabilities
Derivative financial instruments-992529
Total Liabilities-992529

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 26 July 2026 (unaudited)
-12-
13. Related Party Transactions
The Group undertook transactions during the 26-week period with the following related parties as detailed
below:
The R A Duke Trust, of which RA Duke is a trustee, as owner of the Rebel Sport premises at
Panmure, Auckland, received rental payments of $366,250 (2025: $366,250) from the Group, under
an agreement to lease premises to The Sports Authority Limited (trading as Rebel Sport). During the
period a new lease agreement was entered into for the premises. The remaining non-cancellable term
of this lease is 11.7 years (2025: 0.7 years) with a payment commitment of $10,989,729 (2025:
$488,333).
Kein Geld (NZ) Limited, an entity associated with RA Duke, received rental payments of $319,838
(2025: $314,275) as owner of the Briscoes Homeware premises at Wairau Park, Auckland, under an
agreement to lease premises to Briscoes (NZ) Limited. The remaining non-cancellable term of this
lease is 6.1 years (2025: 7.1 years) with a payment commitment of $4,079,346 (2025: $4,719,021).
Kein Geld Westgate Limited, an entity associated with RA Duke, forms part of an unincorporated joint
venture known as Westgate Lifestyle Centre Joint Venture. This joint venture owns Westgate Lifestyle
Shopping Centre at Westgate, Auckland which includes the Briscoes Homeware and Rebel Sport
premises. Rental payments of $285,222 (2025: $282,572) were received in relation to the Briscoes
(NZ) Limited lease. The remaining non-cancellable term of this lease is 7.8 years (2025: 8.8 years)
with a payment commitment of $4,815,617 (2025: $5,813,233). The joint venture also received rental
payments of $95,648 (2025: $150,626) in relation to the The Sports Authority Limited lease which
included a three month rent-free period whilst the store underwent refurbishment. The remaining non-
cancellable term of this lease is 7.8 years (2025: 8.8 years) with a payment commitment of $3,136,629
(2025: $3,087,271).
RA Duke Trust (including RA Duke Limited) received dividends of $17,156,638 (2025: $17,156,638).
P Duke, spouse of RA Duke, received rental payments of $508,469 (2025: $496,362) as owner of the
Briscoes Homeware premises at Panmure, Auckland under an agreement to lease premises to
Briscoes (NZ) Limited. The remaining non-cancellable term of this lease is 4.8 years (2025: 5.8 years)
with a payment commitment of $4,830,452 (2025: $5,847,389).
in relation to their personally-held shares as detailed below:
26 Week Period
Ended 26 July 2026
26 Week Period
Ended 27 July 2025
Fees
DividendsDirectors
Fees
Dividends
$000$000$000$000
Executive Director
RA Duke----
Non-Executive Directors
RPOMeo83-83-
AD Batterton48-48-
RAB Coupe
1.
301461
HJM Callaghan461451
MC Cairns45---
25222222
1. Andy Coupe retired as a director effective from 7 May 2026

Briscoe Group Limited
Notes to the Financial Statements
For the 26 week period ended 26 July 2026 (unaudited)
-13-
Directors received dividends in relation to their non-beneficially held shares as detailed below:
26 Week Period
Ended 26 July 2026
26 Week Period
Ended 27 July 2025
$000$000
Executive Director
RA Duke17,15717,157
Non-Executive Directors
1010
AD Batterton33
RAB Coupe--
HJM Callaghan--
MC Cairns4-
17,17417,170
14.Events After Balance Date
On 15 September 2026 the Directors resolved to provide for an interim dividend to be paid in respect of the
53-week period ending 31 January 2027. The dividend will be paid at a rate of 10.00 cents per share on
issue as at 25 September 2026, with full imputation credits attached (refer Note 11).
15. Accounting Standards
The accounting policies applied are consistent with those of the annual financial statements for the period
ended 25 January 2026, as described in those annual financial statements.
Certain new accounting standards, amendments to accounting standards and interpretations have been
published that are not mandatory for the 26 July 2026 reporting period and have not been early adopted by
the Group. Other than NZ IFRS 18 these standards, amendments or interpretations are not expected to have
a material impact on the entity in the current or future reporting periods and on foreseeable future
transactions.
NZ IFRS 18: Presentation and Disclosure in Financial Statements will be effective for annual reporting
periods beginning on or after 1 January 2027. This new standard, which is mandatory for the Group in the
The Group will disclose more information in the annual financial statements when a full assessment has
been performed of the impact of the standard.

PricewaterhouseCoopers
PwC Tower, 15 Customs Street West, Private Bag 92162, Auckland
1142, New Zealand
T: +64 9 355 8000, www.pwc.co.nz
pwc.co.nz
Independent auditor’s review report
To the shareholders of Briscoe Group Limited
Report on the consolidated interim financial statements
Our conclusion
We have reviewed the consolidated condensed interim financial statements (“interim financial statements”) of
Briscoe Group Limited (the Company) and its controlled entities (the Group), which comprise the consolidated
balance sheet as at 26 July 2026, and the consolidated income statement, the consolidated statement of
comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash
flows for the 26-week period ended on that date, and notes, comprising material accounting policy information and
other explanatory information.
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim
financial statements of the Group do not present fairly, in all material respects, the financial position of the Group
as at 26 July 2026, and its financial performance and cash flows for the 26-week period then ended, in accordance
with International Accounting Standard 34 Interim Financial Reporting (IAS 34) and New Zealand Equivalent to
International Accounting Standard 34 Interim Financial Reporting (NZ IAS 34).
Basis for conclusion
We conducted our review in accordance with the New Zealand Standard on Review Engagements 2410 (Revised)
Review of Financial Statements Performed by the Independent Auditor of the Entity (NZ SRE 2410 (Revised)).
Our responsibilities are further described in the Auditor’s responsibilities for the review of the interim financial
statements section of our report.
We are independent of the Group in accordance with Professional and Ethical Standard 1 International Code of
Ethics for Assurance Practitioners (including International Independence Standards) (New Zealand) issued by
the New Zealand Auditing and Assurance Standards Board (PES 1), as applicable to audits and reviews of public
interest entities. We have also fulfilled our other ethical responsibilities in accordance with PES 1.
In our capacity as auditor and assurance practitioner, our firm also provides other services relating to executive
remuneration benchmarking. The firm has no other relationship with, or interests in, the Group.
Responsibilities of Directors for the interim financial statements
The Directors of the Group are responsible on behalf of the Company for the preparation and fair presentation of
these interim financial statements in accordance with IAS 34 and NZ IAS 34 and for such internal control as the
Directors determine is necessary to enable the preparation and fair presentation of the interim financial statements
that are free from material misstatement, whether due to fraud or error.

Auditor’s responsibilities for the review of the interim financial statements
Our responsibility is to express a conclusion on the interim financial statements based on our review. NZ SRE 2410
(Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the
interim financial statements, taken as a whole, are not prepared in all material respects, in accordance with IAS 34
and NZ IAS 34.
A review of interim financial statements in accordance with NZ SRE 2410 (Revised) is a limited assurance
engagement. We perform procedures, primarily consisting of making enquiries, primarily of persons responsible for
financial and accounting matters, and applying analytical and other review procedures.
The procedures performed in a review are substantially less than those performed in an audit conducted in
accordance with International Standards on Auditing and International Standards on Auditing (New Zealand) and
consequently does not enable us to obtain assurance that we might identify in an audit. Accordingly, we do not
express an audit opinion on these interim financial statements.
Who we report to
This report is made solely to the Company’s Shareholders, as a body. Our review work has been undertaken so that
we might state those matters which we are required to state to them in our review report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company
and the Company’s Shareholders, as a body, for our review procedures, for this report or for the conclusion we have
formed.
The engagement partner on the review resulting in this independent auditor’s review report is John (Jolly) Morgan.
For and on behalf of:
PricewaterhouseCoopersAuckland
15 September 2026

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Distribution Notice




Please note: all cash amounts in this form should be provided to 8 decimal places

Section 1: Issuer information
Name of issuer Briscoe Group Limited
Financial product name/description Ordinary Shares
NZX ticker code BGP
ISIN (If unknown, check on NZX
website)
NZBGRE0001S4
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies
Record date 25/09/2026
Ex-Date (one business day before
the Record Date)
24/09/2026
Payment date (and allotment date for
DRP)
8/10/2026
Total monies associated with the
distribution
1

$ 22,279,001.20000000
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution
2
$0.13888889
Gross taxable amount
3
$0.13888889
Total cash distribution
4
$0.10000000
Excluded amount (applicable to listed
PIEs)
N/A
Supplementary distribution amount $0.01764706
Section 3: Imputation credits and Resident Withholding Tax
5

Is the distribution imputed Fully imputed X
Partial imputation
No imputation

1
Continuous issuers should indicate that this is based on the number of units on issue at the date of the form
2
“Gross distribution” is the total cash distribution plus the amount of imputation credits, per financial product, before the deduction of
Resident Withholding Tax (RWT).
3
“Gross taxable amount” is the gross distribution minus any excluded income.
4
“Total cash distribution” is the cash distribution excluding imputation credits, per financial product, before the deduction of RWT.
This should include any excluded amounts, where applicable to listed PIEs.
5
The imputation credits plus the RWT amount is 33% of the gross taxable amount for the purposes of this form. If the distribution is
fully imputed the imputation credits will be 28% of the gross taxable amount with remaining 5% being RWT. This does not
constitute advice as to whether or not RWT needs to be withheld.

If fully or partially imputed, please
state imputation rate as % applied
6

28%
Imputation tax credits per financial
product
$0.03888889
Resident Withholding Tax per
financial product
$0.00694444
Section 4: Distribution re-investment plan (if applicable)
DRP % discount (if any)
N/A
Start date and end date for
determining market price for DRP
N/A N/A
Date strike price to be announced (if
not available at this time)
N/A
Specify source of financial products
to be issued under DRP programme
(new issue or to be bought on
market)
N/A
DRP strike price per financial product
N/A
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms
N/A
Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Geoff Scowcroft
Contact person for this
announcement
Geoff Scowcroft
Contact phone number +64 275633167
Contact email address geoff@briscoes.co.nz
Date of release through MAP

16/09/2026





6
Calculated as (imputation credits/gross taxable amount) x 100. Fully imputed dividends will be 28% as a % rate applied.