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: addresses, voting procedures, and formal business, with opportunities for shareholder questions.

Financial performance review

• Delivered a 42% margin across the 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 a net cash position since 2019, with significant product inventory and Deterra stake valued at approximately AUD 400 million each.

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

Board and executive committee updates

• James Mactier announced as incoming Chair, effective May 2025; outgoing Chair Rob Cole acknowledged for his contributions.

• Peter Smith and Susie Corlett stood for election and re-election, respectively, with both addressing the meeting and board support.

• Board composition and committee memberships detailed, emphasizing diverse experience.