Coles Group (COL) AGM 2025 summary

Shareholder proposals

• Approval was sought for STI shares and performance rights grants to the CEO for FY2025 and FY2026, with the board recommending in favor and the CEO abstaining from voting.

• Shareholder proposals to amend the constitution and introduce sustainability-related resolutions were discussed, with the board recommending against these changes.

• Item 6.1 (constitution amendment) did not pass, so item 6.3 (sustainability resolution) was not put to a vote.

Q&A with stakeholders

• Shareholders raised concerns about responsible sourcing, especially regarding Tasmanian salmon and the endangered Maugean skate, urging alignment with global best practices.

• The board emphasized ongoing due diligence, reduced sourcing from Macquarie Harbour, and engagement with scientific and regulatory bodies.

• Questions addressed animal welfare, cage-free egg commitments, and protein diversification, with the company reaffirming its commitments and explaining delays due to avian flu.

• Stock theft and loss were discussed, with management noting a 25 basis point reduction in losses and ongoing collaboration with authorities.

Overview of voting outcomes

• Board-recommended grants for executive incentives were put to vote with no significant opposition or questions.

• The constitutional amendment proposal failed to achieve the required majority, preventing subsequent related resolutions from proceeding.