Chorus (CNU) Investor Day summary

Strategic direction and future plans

• Transitioning from network builder to network operator, targeting 80% fibre uptake by 2030 and a simplified all-fibre business, requiring about 240,000 additional connections over six years.

• LEAP strategy and board priorities focus on leading fibre adoption, digital equity, managed copper exit, and capital discipline.

• Three-phase/horizon roadmap: FY25 (future fit/adaptive), FY26–29 (growth, efficiency, simplicity), FY30+ (all-fibre, copper exit).

• Assertive market challenger stance with targeted marketing, product innovation, and tailored offers for underpenetrated segments.

• Purpose-driven approach emphasizes unleashing potential through connectivity and digital equity.

Fibre market, data demand, and customer trends

• Fibre connections grew from 751,000 in 2020 to 1,084,000 in 2024, with revenue rising to $1,010m in FY24.

• Data usage on fibre increased 13x over the past decade, with 636GB average monthly usage and 17% of users exceeding 1TB.

• Streaming, live sports, 4K, and AI are driving further data growth; average monthly usage forecast to reach ~1TB by 2029.

• Fibre delivers consistent, high-speed performance, outperforming fixed wireless, especially during peak hours.

• Wi-Fi 7 adoption is accelerating, enabling multi-gig broadband speeds and supporting more devices.

Fibre uptake strategy and customer focus

• Achieving 80% uptake focuses on acquisition, tailored offers, and customer retention, targeting retirement villages, businesses, digitally excluded households, and large MDUs.

• Moving from a one-size-fits-all approach to tailored incentives and partnerships with retailers.

• Retention efforts are increasing, with 12-month churn at ~4% and ~57% of disconnected premises reconnecting within a year.

• Customer experience improvements have led to a strong NPS lead for fibre over fixed wireless.

• Fibre Frontier build of 10,000 premises on track, with 80% uptake targeted via pre-registration and direct engagement.