Keller Regulatory News (KLR)

7 July 2026

Keller Group plc

Trading Update; Upgrade to Full Year 2026 expectations

Keller Group plc ("Keller" or "The Group"), the world's largest geotechnical specialist contractor, issues a trading update ahead of its interim results for the six months ended 30 June, scheduled for 4 August 2026.

Since the AGM trading update on 20 May, in which the Group reported a strong start to the year, positive momentum has accelerated. The Group has delivered an excellent performance through the remainder of the second quarter with trading in North America, the Group's largest division, materially outperforming management's expectations. The division has benefited from record volumes and a significant increase in customer demand for infrastructure projects and data centres which has more than offset a softening south Florida residential market. During the period, the division has worked on multiple data centre projects and has won several high value infrastructure contracts where clients are focused on timely and quality delivery across complex and/or large scale projects.

Trading across the Europe and Middle East division has been robust for the year to date, with projects in Scandinavia, central Europe and the Middle East offsetting ongoing subdued market conditions in western Europe. The Asia Pacific division is performing broadly in line with management's expectations, with Austral continuing the momentum delivered in 2025 and largely offsetting pricing pressures in the Australia foundations market where activity levels remain strong.

Tendering activity across the Group remains buoyant and, as previously announced, the Group's order book currently sits at a record level of c£1.9bn, increased by the significant multi-year I-40 highway remediation contract.

Full year 2026 outlook

As a result of the strong trading performance set out above, the Group's continued margin discipline and its strong order book, the Board now anticipates that the Group's revenue and underlying operating profit for the full year 2026 will be materially ahead of current market consensus1.

The Group's balance sheet and cash generation remain strong, and the Board remains confident in the Group's strategy and long-term growth prospects.

James Wroath, Chief Executive Officer at Keller, said:

"Our North American operations, which account for around 60% of the Group's revenue, have delivered an exceptional performance across the US and Canada so far this year, supported by increased activity in infrastructure and data centres. This reflects Keller's ability to identify and respond to structural megatrends and pivot to subsectors with strong customer demand which drive business growth.

Together with the robust results across the wider Group, this demonstrates the strength of the Group's market positioning and portfolio as well as our continued disciplined approach to project execution. We remain well positioned to continue delivering value for our customers and returns for shareholders in 2026 and beyond."

As previously announced, the Group will be holding a Capital Markets Day on 14 October 2026.

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1 Current company compiled consensus for the year-ending 31 Dec 2026 (based on the estimates of seven analysts) is Revenue of £3,150m and Underlying Operating profit of £223m.

This announcement contains inside information. The person responsible for making this announcement is Catherine Shuttleworth, General Counsel and Company Secretary.

For further information, please contact:

Keller Group plc www.keller.com

James Wroath, Chief Executive Officer +44 20 7616 7575

David Burke, Chief Financial Officer

Nicola Rogers, Group Head of Investor Relations

Teneo

Martin Robinson +44 20 7427 1572

Giles Kernick

Camilla Cunningham

Notes to editors:

Keller is the world's largest geotechnical specialist contractor providing a wide portfolio of advanced foundation and ground improvement techniques used across the entire construction sector. With around 10,000 staff and operations across five continents, Keller tackles an unrivalled 5,500 projects every year, generating annual revenue of c.£3bn.

Cautionary statements

This document contains certain 'forward-looking statements' with respect to Keller's financial condition, results of operations and business and certain of Keller's plans and objectives with respect to these items. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'could', 'may', 'should', 'expects', 'believes', 'intends', 'plans', 'potential', 'reasonably possible', 'targets', 'goal' or 'estimates'. By their very nature forward looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, changes in the economies and markets in which the Group operates; changes in the regulatory and competition frameworks in which the Group operates; the impact of legal or other proceedings against or which affect the Group; and changes in interest and exchange rates. For a more detailed description of these risks, uncertainties and other factors, please see the Principal risks and uncertainties section of the Strategic report in the Annual Report and Accounts. All written or verbal forward looking-statements, made in this document or made subsequently, which are attributable to Keller or any other member of the Group or persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. Keller does not intend to update these forward-looking statements. Nothing in this document should be regarded as a profits forecast. This document is not an offer to sell, exchange or transfer any securities of Keller Group plc or any of its subsidiaries and is not soliciting an offer to purchase, exchange or transfer such securities in any jurisdiction. Securities may not be offered, sold or transferred in the United States absent registration or an applicable exemption from the registration requirements of the US Securities Act.