Macmahon (MAH) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed attendees, acknowledged traditional custodians, and introduced Board and executive team members.

• Meeting held in hybrid format, allowing both in-person and online participation.

• Voting procedures and Q&A protocols for both in-person and online attendees were outlined.

• Notice of meeting was released via ASX and taken as read without objection.

• Meeting agenda included Chair's address, CEO's address, reports, remuneration report adoption, and director re-election.

Financial performance review

• Achieved record revenue of $2.4bn, up 20% from previous year, and underlying EBITDA of $387.4m with a 16% margin.

• Free cash flow after CapEx was $141 million, with a cash conversion rate of 105.2%.

• EBITDA margin improved to 7.1%, with mining margin at 7.5%.

• Net debt increased to $162.5m, and gearing rose to 19%.

• Ended FY 2026 with a robust order book of $5.4 billion and a tender pipeline of $24.2 billion.

Board and executive committee updates

• Chair Hamish Tyrwhitt announced retirement, with Greg Evans to succeed as Chair.

• Suzan Pervan appointed as a new Independent Non-Executive Director effective 1 November 2025.

• Board appointments followed an independent, external recruitment process.

• Management team highlighted, including CEO, CFO, and divisional managing directors.