Perenti (PRN) AGM 2025 summary

Opening remarks and agenda

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

• Introduced Board members, executive committee, and auditor; explained voting and question protocols for attendees.

• Outlined meeting agenda: Chair and CEO addresses, formal business, voting on resolutions, and Q&A.

Board and executive committee updates

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

• Greg Walker appointed as Independent Non-Executive Director, bringing extensive mining experience.

• Alex Atkins retired from the Board after seven years of service.

Financial performance review

• Achieved record FY 2025 results: revenue of AUD 3.49 billion, EBITDA of AUD 333.5 million, and free cash flow of AUD 195 million.

• EBITDA margin increased to 9.6%; leverage ratio reduced to below 0.5 times.

• Share price grew approximately 60% during FY 2025, with further 80% growth post-July 2025.

• Drilling Services division generated AUD 780 million in revenue, with 65% EBIT growth.