SkyCity Entertainment Group (SKC) investor relations material

Opening remarks and agenda

• The meeting opened with a welcome, cultural acknowledgments, confirmation of quorum, and safety instructions, allowing both online and in-person participation for shareholders and bondholders.

• The agenda included the Chair's address, CEO's operational and financial update, voting on resolutions, shareholder questions, and meeting closure.

Financial performance review

• Underlying EBITDA fell from $278M to $234M, and underlying profit dropped from $123M to $71M due to weak trading, increased costs, and regulatory expenses.

• Reported revenue reached $825.2m, up 11.1% year-on-year, while underlying revenue decreased by 5.2%.

• Reported EBITDA was $216.1m, up 56.4%; underlying EBITDA was $233.7m, down 15.5%.

• A $240M equity raise was completed to maintain credit rating and avoid covenant breaches, with net debt at $757m and a net debt/EBITDA ratio of 3.1x.

• Auckland remains the flagship, with $514.3m in underlying revenue and EBITDA down 11.5%; Adelaide and Malta saw declines, and total visitation exceeded 10.5 million, up 4.5%.

Board and executive committee updates

• Board comprised Julian Cook (Chair), Donna Cooper, David Attenborough, Chad Barton, Kate Hughes, and Glenn Davis.

• No new board appointments; re-election of Kate Hughes and Glenn Davis was proposed, with both directors addressing the meeting and emphasizing their commitment to transformation and regulatory remediation.

• Board appointments and committee memberships highlighted, with emphasis on risk, compliance, and transformation.

• The board unanimously supported the re-election of Kate Hughes and Glenn Davis, citing their roles in risk management and compliance.