Downer EDI (DOW) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional landowners and Remembrance Day observance, including respect to Aboriginal and Torres Strait Islander peoples and their Elders.

• Safety procedures for the venue, including evacuation protocols, were outlined before formal proceedings.

• Directors, company secretary, CEO, CFO, and auditor were introduced, with the Board including Mark Menhinnitt, Peter Tompkins, Adelle Howse, and others.

• Chair's address delivered by Mark Menhinnitt and CEO's report presented by Peter Tompkins.

• Meeting agenda and voting procedures were explained, with all resolutions to be decided by poll.

Financial performance review

• FY25 marked significant progress in financial and operational reset, with consistent performance and margin expansion.

• Underlying EBITDA margin grew to 4.4% from 3.2% in FY24; underlying NPATA rose 33%.

• Revenue decreased by 2.5% (excluding divested businesses), reflecting focus on quality of revenue.

• Strong cash conversion and net debt to EBITDA under one times, providing capital flexibility.

• Financial Report, Directors' Report, and Independent Auditor's Report were presented and opened for discussion, with no vote required.

Board and executive committee updates

• Two new non-executive directors, Kerry Gleeson and Annette Carey, joined the board.

• Teresa Handicott retired from the board, recognized for her significant contributions.

• Board renewal and governance focus continued throughout the year.

• The Board of Directors was introduced, including Mark Menhinnitt, Peter Tompkins, Adelle Howse, and others.