FBR Corporate Presentation
Released
Released
Announcement PDF
FBR Corporate Presentation
October 2026
The Problem FBR Solves
FBR Limited | Corporate Presentation | October 2026
01
The world is running out
of skilled workers
• Bricklayers, welders and
tradespeople are difficult to
attract and train
• Labour shortages are delaying
projects and driving up costs
worldwide
• Demand for housing, ships
and infrastructure keeps
growing
02
Big jobs need big
automation
• Homes, ships, mining
equipment and steel ladles are
large structures, often many
metres across
• Conventional robots are built
for small parts in fixed cells
• Automating large-scale work
needs large-scale robots
03
Automation stops at the
factory door
• Factory robots depend on
controlled, unchanging
environments
• Real worksites are uneven,
exposed to wind and
constantly changing
• So most construction and
heavy industry is still done by
hand
04
Long booms wobble, but
the work must be precise
• Reaching across a large
structure requires a long
boom
• Long booms flex, sway and
vibrate in operation
• Yet laying blocks and welding
seams demand millimetre
accuracy
FBR’s answer: Dynamic Stabilisation Technology (DST®). DST® measures and corrects boom movement in real time, so large
robots can work accurately outdoors – bringing robotic automation out of the factory and onto the worksite.
About FBR
• Global Leader in Robotics: ASX-listed Perth-based company with large scale robotic
technology and proven products
• Breakthrough innovation: Proprietary Dynamic Stabilisation Technology® (DST®),
enables precise control of large robotic systems, even in uncontrolled environments
• Industrial Problem Solver: Focused on applying robotics & automation to address
issues facing industry
• Sought After Expertise: Industry giants reach out to FBR to have their most
challenging automation and robotics issues solved
FBR Limited | Corporate Presentation | October 2026
Machine Design &
Simulation
Robot Assembly
Fabrication
Wiring & Electronics
Software Integration &
Commissioning
Remote & On -site
Operations & Support
Our machines perform this loop up to 1000 times
a second
Sensors vary by application
Sense
Estimate
Compare
Plan
Move
Proprietary algorithms are used for sensor fusion and
motion planning to reject noise and stabilise motion
Core technology – DST®
Applied DST®
Mantis
DST® welding at up to 8m reach
• Long-reach, millimetre-accurate welding is only possible because
DST® cancels boom flex and vibration in real time
• Brings robotic welding out of the cell to ships, bridges and mining
equipment too large for conventional robots
• Helps relieve the global shortage of skilled welders that is constraining
shipbuilding, defence and heavy industry
Hadrian®
DST® bricklaying at 32m reach
• Accurately placing blocks from a 32m boom on an open, windy building site
is only possible with DST®
• Builds the walls of a house in a day, with a small crew
• Helps relieve the shortage of bricklayers that is holding back the housing
supply the world urgently needs
FBR Limited | Corporate Presentation | October 2026
Bricklaying robot
• Powered by DST®
• Precision bricklaying in uncontrolled environments
• Operated by tablet
• Lays blocks up to 600mm x 400mm x 300mm
• Lays up to 350 blocks per hour
• Builds walls of a house in a day
• Key enabler of robotically constructed homes
• Units sold to third parties will generate recurring
revenue in servicing, maintenance and software
support
FBR Limited | Corporate Presentation | October 2026
Parameter All markets (estimate)
Addressable housing starts per year (brick/block) 13,777,750
Homes per robot per year 200
Robots required to serve total market 68,889
Dollar figures in US$
Target Market Analysis
Market
Housing Starts (per
year)
Masonry
Share
Addressable Starts with Hadrian
Australia1
175,000 – 240,000 70% 122,500 – 168,000
United Kingdom2
175,000 – 200,000 80% 140,000 – 160,000
Continental Europe3
1,400,000 – 1,600,000 55% 770,000 – 880,000
India4
9,200,000 – 11,300,000 85% 7,820,000 – 9,605,000
Middle East / GCC /
MENA5 500,000 – 1,500,000 90% 450,000 – 1,350,000
United States6
1,300,000 – 1,600,000 30% 390,000 – 480,000
China7
3,900,000 – 4,800,000 60% 2,340,000 – 2,880,000
Total
16,650,000 –
21,240,000
12,032,500 – 15,523,000
References
1: https://www.abs.gov.au/statistics/industry/building-and-construction/building-activity-australia/latest-release, https://www.abs.gov.au/AUSSTATS/abs@.nsf/bb8db737e2af84b8ca2571780015701e/87057589DAC54461CA25750E001088B7?opendocument
2: https://www.bcis.co.uk/news/latest-uk-housing-starts-and-completions-figures/, https://committees.parliament.uk/writtenevidence/77814/html/
3: https://www.ifo.de/en/press-release/2025-07-11/number-of-new-dwellings-in-europe-falls-significantly
4: https://www.freedoniagroup.com/press-releases/new-housing-construction-in-india-forecast-to-rise-over-4-annually-through-2028
5: https://www.vision2030.gov.sa/en/explore/explore-more/sakani, https://www.dailynewsegypt.com/2024/12/25/egypt-needs-450k-housing-units-annually-to-meet-population-growth-minister
6: https://www.consumeraffairs.com/homeowners/how-many-houses-are-built-every-year.html
7: https://www.stats.gov.cn/english/PressRelease/202601/t20260120_1962353.html (2025 residential floor space newly started, 429.84m m², converted at 90–110 m² per dwelling); masonry share is an FBR estimate (China targets 30%+ of new buildings to be prefabricated:
https://investinchina.chinaservicesinfo.com/s/202201/27/WS61f257b9498e6a12c121e21b/china-publishes-five-year-plan-for-construction-industry.html)
Market size estimate only – not a forecast or target of FBR sales, market share or revenue. Estimates use the midpoint of the third-party housing start ranges and masonry shares listed (China dwelling conversion and
masonry share are FBR estimates); homes per robot and unit price are FBR management assumptions. FBR does not currently have any committed Hadrian sales.
Future platform applications
• Existing Hadrian® platform can be modified to
handle a wide range of other applications
• Roof tiling
• Cladding installation
• Solar panel installation
• Humanoid hybrid for intricate tasks
• Surface treatment
FBR Limited | Corporate Presentation | October 2026
Completed projects
• United States:
• 10 residential builds in Florida
• House completed in one shift by a crew of 3
• Western Australia:
• 16 townhouse development
• 8 townhouse development
• 6 single storey freestanding homes
• 1 large commercial centre
• 1 large childcare centre
FBR Limited | Corporate Presentation | October 2026
• Powered by DST®
• Precision welding with long reach
• 8m reach
• Holds 2 x 250kg wire drums
• Single and/or tandem weld torches
• Easy to program
• Australian made, with support local to each
customer’s region
• Installed and commissioned in 2 days
• First unit sold to US
• Upfront sales revenue
• Recurring revenue in mandatory annual
servicing, spare parts and software support, as
well as welding consumables
• Large addressable market
Welding robot
FBR Limited | Corporate Presentation | October 2026
Facility Type Estimated Global Count
Major commercial shipyards1 280 – 320
Heavy structural steel fabricators2 5,000 – 10,000
Mining equipment manufacturers3 400 – 800
Pressure vessel manufacturers4
(ASME/PED certified)
5,000 – 8,000
Bridge and infrastructure fabricators5 1,500 – 3,000
Total target facilities ~12,000 – 22,000
Average robots per facility 2
Robots required to serve total market ~24,000 – 44,000
Target Facility Analysis
References
1: CRS IF12534: 301 active shipyards (2022); Danish Ship Finance via Statista: 283 (2022): https://www.congress.gov/crs-product/IF12534
2: USA alone has 3,000+ (Market Growth Reports); top 10 hold 1.06% of $157B market (TBRC/Globe Newswire): https://www.marketgrowthreports.com/market-reports/structural-steel-fabrication-market-115380
3: 746 companies tracked (Tracxn 2025); market "fairly consolidated" (Mordor Intelligence)
4: 6,800+ ASME certificate holders (ASME); 7,000+ certified companies in 70+ countries; excludes PED-only and national code certifications: https://www.asme.org/certification-accreditation/boiler-and-pressure-vessel-certification
5: AISC certifies hundreds of US bridge fabricators; $3.3T global infrastructure spend with 62% using steel fabrication: https://www.aisc.org/certification/find-a-certified-company/
Market size estimate only – not a forecast or target of FBR sales, market share or
revenue. Range uses the third-party facility counts listed; robots per facility is an
FBR management assumption. FBR has one Mantis sale to date.
• Engaged with major local and
international shipbuilders and heavy
industrial market incumbents for Mantis
• Targeting major Korean shipyards
• First Mantis unit sold to USA
• Non-exclusive US distributor agreement
with Industrial Robotics
• Industrial distributor assessing the
market in Japan
• Commencing demonstrations to leads
Go to market
FBR Limited | Corporate Presentation | October 2026
Mantis in action
FBR Limited | Corporate Presentation | October 2026
• FBR was approached by steel mills and refractory
suppliers
• Concept Launched
• Powered by DST®
• Purpose designed for global steelmaking industry
• Reduces human exposure to challenging conditions
• Fully autonomous brick and sand placement
• Pre-approved ladle layouts that operators can
select
• Operates within 10x10m footprint
• Handles ladles from 10t to 350t capacity
• Aims to complete relines in as little as a day
• 10m reach
• Targeting upfront sales revenue plus recurring
revenue from ongoing support
• Seeking global partnering opportunities to go from
concept to prototype phase and pilot projects
Refractory lining robot
FBR Limited | Corporate Presentation | October 2026
Type Plants (≥0.5 Mtpa)
Integrated (BF) 338
Integrated (BF & DRI) 69
Integrated (DRI) 98
Ironmaking (BF) 10
Ironmaking (DRI) 15
Electric (EAF) 403
Integrated unknown 12
Steel other/unspecified 16
Total 961
Average robots per plant 1.3
Additional contractor fleet robots 100
Robots required to serve total market 1,349
Target Facility Analysis
References
1: https://globalenergymonitor.org/projects/global-iron-and-steel-tracker/tracker-map/
Market size estimate only – not a forecast or target of FBR sales, market share or revenue. Estimate uses the total plant count from the third-party source listed; robots per plant and contractor fleet numbers are FBR
management assumptions. Firehawk is still in development and has no sales to date.
Physical AI : Where the Value Is Moving
FBR Limited | Corporate Presentation | October 2026
AI is making software easy
• AI coding tools are cutting the time and
cost to build software
• Software features can now be copied in
weeks, not years
• Barriers to entry in pure software are
falling
• Value is shifting to what AI cannot
easily replicate
Physical robots are still hard
• Real-world physics: wind, vibration,
boom deflection, heavy payloads
• Hardware iterations take years and
significant capital
• Real-world operating data only comes
from machines in the field
• Manufacturing, safety, certification and
field service all have to work
FBR's moat
• Dynamic Stabilisation Technology
(DST®): precise robotic control on large,
moving machines outdoors
• Patented technology developed over
many years of engineering
• Proven in the field: Hadrian has built
homes on real sites
• Full-stack in-house capability:
mechanical, electrical, controls, software
and manufacturing
• One platform, three products – Hadrian®,
Mantis and Firehawk – with more in
concept
AI makes software abundant. Machines that work precisely in the real world remain scarce – that is where FBR operates.
Qualitative industry view only; not a forecast of FBR sales, revenue or market share.
Mark Pivac
Chief Executive Officer & Executive Director
Mark Pivac is the founder of FBR and the
primary inventor of its technology. He is an
aeronautical and mechanical engineer with
over 25 years' experience working on the
development of high-tech equipment ranging
from lightweight aircraft to heavy off-road
equipment.
Shannon Robinson
Non-Executive Chair
Shannon Robinson is an experienced company
director and a former corporate lawyer. She is
a graduate member of the Australian Institute
of Company Directors (AICD) and a fellow of
the Governance Institute of Australia (GIA).
Shannon has been a director of several ASX-
listed technology companies, including as
Chair of FBR Limited from 2015 to 2018, and is
currently Non-Executive Chair of Yojee Limited
(ASX:YOJ), FortifAI Limited (ASX:FTI) and
Pathkey.AI Limited (ASX:PKY).
Glenn Cooper
Non-Executive Director
Glenn Cooper has an engineering, sales and
business operations background with over 25
years’ experience as a senior executive in the
construction and manufacturing industries.
Glenn is currently the Chief Operating Officer
of Construction Equipment Australia, the
Australian distributor of Sany equipment.
Glenn is a graduate member of the Australian
Institute of Company Directors (AICD) and
holds a diploma in Mechanical Engineering.
Lindsay Partridge AM
Non-Executive Director
Lindsay Partridge is a highly experienced and
respected leader in the construction industry,
having served a 25-year tenure as Managing
Director and Chief Executive Officer of
Brickworks, Australia's largest building
materials supplier.
Lindsay has a strong track record of
generating long-term shareholder value and
navigating complex market cycles.
Lindsay holds a Bachelor of Engineering
(Ceramic Engineering) from the University of
New South Wales and has completed the
Stanford Executive Program.
Board of Directors
FBR Limited | Corporate Presentation | October 2026
Substantial Holders & Capital Structure
FBR Limited | Corporate Presentation | October 2026
Substantial holders
Holder Shares % of issued
Horsley Park Holdings Pty Ltd (Brickworks group)¹ 14,633,539 7.73%
M&G plc and subsidiaries² 13,910,367 7.26%
Capital structure
Security Current³
Ordinary shares 191,515,529
Options 10,910,526
Performance rights 1,500,000
Convertible notes 350,000
Options
Number Exercise price Expiry Status
9,000,000 $0.50 8 Aug 2028 On issue
1,910,526 $0.17 21 Jul 2029 On issue
10,910,526 Total
1. Per Form 604 dated 15 Oct 2026; controlling entities include Brickworks Limited and Washington H. Soul Pattinson. 2. Per Form 604 dated 16 Oct 2026; includes The Prudential Assurance Company Limited
(8,500,234 shares), which ceased to be a separate substantial holder on 12 Oct 2026. Shareholdings and percentages are as stated in the most recent Form 604 lodged with ASX by each holder. 3. Performance
rights expire 31 Jul 2029. Convertible notes mature 21 Jan 2028; conversion price is VWAP-based per the Convertible Note Agreement. 4. Subject to shareholder approval, up to a further 82,860,050 options are
proposed to be issued, each with an exercise price of $0.14 and an expiry date of 5 years after the date of issue.
Why FBR
• DST®: patented technology that lets large robots work with
millimetre precision outside the factory
• One platform, three products: Hadrian® proven on real
building sites, Mantis with its first unit sold to the US, and
Firehawk with pilot projects under negotiation
• Additional products in concept phase
• Targeting critical skilled-labour shortages in construction,
heavy fabrication and steelmaking
• Full-stack in-house capability, from design and fabrication
to field support
• Technical expertise sought out by some of the biggest
market incumbents in the world
• Recently completed $4m raise, repaid short term debt and
beginning to generate cash flow from sales
FBR Limited | Corporate Presentation | October 2026
Important Notice
This presentation has been prepared by FBR Limited. This document contains background information about FBR Limited which is current as at the date of this
presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and
perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this
presentation.
This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or
recommendation in relation to the purchase or sale of FBR Limited securities in any jurisdiction. This presentation may not be distributed in any jurisdiction except in
accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A
failure to do so may result in a violation of securities laws in such jurisdiction.
This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial
circumstances or particular needs, and the opinions and recommendations in this presentation are not intended to represent recommendations of particular
investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks,
which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, FBR Limited, its
officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of
any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from
this presentation arising out of negligence or otherwise is accepted.
This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions
which are outside the control of FBR Limited. For example (without limitation), supply chain challenges, capital markets, global unrest, inflation and sovereign risk
could impact our business. Actual values, results or events may be materially different to those expressed or implied in this presentation.
All amounts stated within this presentation are stated in Australian Dollars unless otherwise stated. Figures stated within this presentation may contain immaterial
rounding differences.
Disclaimer
21
Share your feedback
Discover