Chorus (CNU) AGM 2026 summary

Opening remarks and agenda

• Hybrid meeting opened after quorum was confirmed; prior AGM minutes were approved and notice of meeting taken as read.

• Agenda covered the Chair’s and CEO’s addresses, resolutions, shareholder questions and poll voting.

Financial performance review

• FY26 fibre connections reached 1,147k, up 3% YoY; EBITDA was NZD 726m, up from NZD 705m, and net profit was NZD 37m, up NZD 33m.

• Net cash flows from operating activities rose 4% to NZD 740m in FY26.

• Energy use fell 7% despite data traffic growth of 9%; Scope 1 and 2 emissions declined 43% from the FY20 baseline.

• Employee eNPS was +56, within the technology industry’s top 10%; fibre faults were 2.84 Layer 1 and 1.24 Layer 2 per 100 connections.

Board and executive committee updates

• Mark Cross chaired the meeting and Mark Aue delivered the CEO address; listed independent directors included Sue Bailey, Neal Barclay, Miriam Dean, Will Irving, Kate Jorgensen and Paul Reid.

• Kate Jorgensen stood for re-election and Paul Reid for election; the Board unanimously supported both candidates.

• Jorgensen cited financial, audit, governance and infrastructure experience and her role as Audit and Risk Management Committee Chair since 2022.

• Reid cited 30+ years of commercial experience and governance roles across infrastructure and technology; he plans to leave Christchurch Airport’s Board in May 2027.