Perenti (PRN) AGM 2025 summary

Opening remarks and agenda

• Chair opened the meeting, acknowledged traditional land owners, and outlined procedures for both in-person and virtual participation.

• Introduced Board members, executive committee, and auditor; explained registration and voting card process.

• Notice of Meeting was taken as read; agenda included Chair and CEO addresses, formal business, and Q&A.

Financial performance review

• Achieved record FY 2025 revenue of AUD 3.49 billion and EBITDA of AUD 333.5 million, marking the fourth consecutive year of meeting or exceeding guidance.

• Free cash flow reached AUD 195 million, excluding AUD 92 million from Botswana exit; leverage ratio reduced to 0.5x.

• Dividend increased by 21% to AUD 0.0725 per share; share buyback program continued.

• Share price grew approximately 60% during FY 2025 and 80% from July 1 to the AGM.

Board and executive committee updates

• CEO succession process announced; Mark Norwell to step down in 2026, with a comprehensive search underway.

• Alex Atkins retired from the Board; Greg Walker appointed as Independent Non-Executive Director.

• Board renewal emphasized, with focus on skills, experience, and diversity.