Dalrymple Bay Infrastructure (DBI) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened by the Chair, acknowledging traditional custodians and confirming a quorum was present.

• Meeting opened with addresses from the Chair and CEO, outlining the agenda and formal business items.

• Housekeeping procedures and the meeting agenda were outlined, including CEO and Chair addresses, followed by formal business.

• The agenda included consideration of financial reports, re-election of directors, and a non-binding vote on the remuneration report.

Financial performance review

• FY2024 EBITDA rose 7.1% to AUD 279.8 million; funds from operations increased 11.1% to AUD 156.7 million.

• The terminal exported 63 million tons of coal to 22 countries, representing 14% of global seaborne metallurgical coal trade.

• Terminal Infrastructure Charge for 2025-2026 is forecast at AUD 3.72/ton, a 3.6% increase.

• All terminal capacity fully contracted to at least 2028, supporting predictable revenue.

• Investment grade credit ratings maintained, with $2.33bn in total debt limits and $481m liquidity.

Board and executive committee updates

• All current directors and key executives were present, including the CEO, CFO, and Company Secretary.

• Board comprises Hon Dr David Hamill AM (Chair), Ray Neill, Bronwyn Morris AM, Dr Eileen Doyle, and Jonathon Sellar.

• Executive team includes CEO Michael Riches, CFO Stephanie Commons, and other key officers.

• The Chair and Bronwyn Morris stood for re-election, both highlighting their governance and industry experience.