Iluka Resources (ILU) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional landowners and confirmation of quorum; poll for all resolutions declared open early in the session.

• Board and executive team introduced, including new and re-electing directors; external auditor present for questions.

• Chair outlined the agenda, including addresses, voting procedures, and formal business.

Financial performance review

• Achieved a 42% margin across product suite despite muted demand, funding development pipeline without high gearing or capital raising.

• Declared an 8% dividend in 2024, supported by a 20% stake in Deterra Royalties.

• Maintained net cash position since 2019, with significant investments in new mining technology and rare earths business.

• Annual average operating cash flows of ~AUD 400 million over the past five years.

Board and executive committee updates

• James Mactier announced as incoming Chair, effective May 2025; Peter Smith and Susie Corlett standing for election/re-election.

• Board expressed confidence in Susie Corlett despite proxy advisor opposition, citing her ongoing valuable contribution.

• Peter Smith and Susie Corlett addressed shareholders, highlighting their experience and commitment.