Market Opportunity - £55bn market opportunity

Market Drivers – long term structural growth

demographics are
fuelling the need for
new buildings

Only 36% of buildings are
maintained to a satisfactory
level =

high future demand

27.8m homes across
the UK - our markets
have vast potential

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