Aurizon (AZJ) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed attendees, introduced the Board and executive team, and outlined the meeting agenda, including addresses, business items, Q&A, and voting procedures.

• Acknowledgement of Country recognized Traditional Custodians and emphasized respect for Aboriginal and Torres Strait Islander peoples and their connection to the land.

Board and executive committee updates

• Chairman confirmed ongoing Chair succession process, with both internal and external candidates under consideration and an announcement expected in coming months.

• Farewell to long-serving director Russell Caplan and ongoing search for new non-executive directors to enhance board diversity and skills.

• Directors Sarah Ryan and Lyell Strambi stood for reelection, highlighting their relevant experience and commitment.

• Addresses were delivered by the Chairman and the Managing Director & CEO.

Financial performance review

• Underlying EBITDA for FY2025 was AUD 1.576 billion, 7% below expectations due to deferred revenue and increased bad debt provisions.

• Revenue increased by 3% in FY2025, supporting a total dividend of AUD 0.157 per share and a AUD 300 million share buyback.

• AUD 60 million in annualized cost savings achieved, with a major restructure resulting in over 200 employees leaving.

• Bulk business volumes fell 17% and EBITDA dropped 26% due to contract loss, lower grain volumes, and doubtful debts.

• Financial statements and reports for the year ended 30 June 2025 were presented for consideration.

• Business performance and operational performance were discussed, including network and containerized freight updates.