DAVY VIEW

Breedon has announced that Rob Wood will be stepping down as CEO, effective January 1st 2027, after 12 years with the group, including almost six years as CEO. James Brotherton (CFO) will succeed him, with a search for a new CFO now underway. We view this as an orderly succession, with Brotherton having played a key role in executing Breedon’s growth strategy in recent years. As such, we do not anticipate any change in strategic direction.