Atlas Arteria (ALX) AGM 2025 summary

Opening remarks and agenda

• Hybrid AGM format enabled both in-person and online participation, with clear instructions for voting and questions provided to all attendees.

• Two concurrent meetings were held for the Australian and Bermudian parent entities due to the stapled structure.

• Quorum was confirmed for both meetings, and polls were opened for all agenda items.

Financial performance review

• Toll revenue grew 5.1% across all businesses in 2024, aided by inflation-linked tolls and positive traffic growth.

• Proportionate EBITDA rose 0.4%, constrained by a new French transport tax (TILD), but operating free cash flow and distribution guidance were met.

• First quarter 2025 saw traffic and toll revenue up 1.6% and 6.1% respectively year-on-year.

• Distribution policy was updated to pay 90-110% of free cash flow, providing greater clarity for investors.

Board and executive committee updates

• New CEO Hugh Wehby appointed in November 2024, bringing infrastructure experience and driving strategic outcomes.

• Amanda Baxter joined as Group Executive North America and Corporate Development; new CEOs appointed at Chicago Skyway and interim at Dulles Greenway.

• Board renewal completed with two new appointments; five directors stood for election or re-election.

• A new Safety and Sustainability Committee was established at board level.