Market Opportunity - £55bn market opportunity

Market Drivers – long term structural growth

Targeting the buoyant RMI market

Lords is favorably focused on the Repairs, Maintenance and Improvement (‘RMI’) sector of the wider construction market

Competitive environment – highly fragmented

The builders merchant market is highly fragmented - 2,300 merchants with Nationals making up 51% of revenues

Lords makes up just over 1% of industry turnover – vast opportunity