MYER HOLDINGS LIMITED DISCLOSURECurrent Reports (8-K / ad hoc)

FY26 Trading Update

Page 1 of 2 Myer Holdings Limited (ABN 14 119 085 602) Level 7, 1000 La Trobe Street, Docklands VIC 3008 myer.com.au justgroup.com.au 27 July 2026 FY26 Trading Update Myer Holdings Limited (ASX:MYR; Myer Group) today provides a preliminary and unaudited trading update for the 2026 financial year, 12 months ended 25 July 2026 (FY26). Preliminary FY26 results • Total sales1 of $4,089 million, up 11.3% on an actual basis2. Pro forma3 total sales up 0.3%, driven by strong growth in Home, Womenswear and Kids categories and Just Jeans and strong growth in Marketplace and Concession sales, offset by lower sales in Beauty and Portmans. Group comparable sales up 0.7%. • Myer Retail total sales up 0.7% (comparable sales up 1.0%), and Myer Apparel Brands pro forma total sales down 1.3% (comparable sales down 0.3%). • Operating gross profit (OGP) in the range of ~$1,601 million to ~$1,607 million, up ~13.8% to ~14.3% on an actual basis and down ~2.1% to ~2.5% on a pro forma basis, reflecting higher than planned promotional activity to stimulate demand. OGP margin4 in the range of ~39.2% to 39.3% (FY25 actual basis 38.3%; FY25 pro forma basis 40.3%). • Cost of doing business (CODB) percentage4 broadly in line with FY26 target of ~29% notwithstanding lower- than-expected total sales. Performance impacted by challenging macroeconomic conditions and trading volatility Trading throughout 2H26 has been volatile on a month-to-month basis (illustrated in the chart below), with sustained cost-of-living pressures driving consumer sentiment to its lowest levels in recent times. These pressures have included the inflationary effects of higher fuel prices arising from the Middle East conflict, three interest rate increases in CY26, slower household income growth, a weaker housing market and financial uncertainties for many households. Despite mixed trading month-to-month for Myer Group, including a strong recovery in May, these impacts have compounded in June and July, significantly constraining household budgets and consumer spending. This has been further compounded by a warmer than average start to winter in most of Australia’s major cities. Myer Group sought to stimulate demand by increasing promotional activity and whilst Value Creation and Integration Synergies have supported performance, it has not been sufficient to offset weak underly