Telix Pharmaceuticals (TLX) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with acknowledgments to Indigenous peoples and outlined procedural aspects, including voting and Q&A logistics.

• A correction was noted in the notice of meeting regarding the 2025 PSARs EBITDA target, and item 3D was withdrawn.

• CEO Dr. Christian Behrenbruch addressed shareholders, highlighting advancements in FAPI therapy for metastatic medullary thyroid cancer.

• Voting was conducted by poll, with results to be published post-meeting.

Financial performance review

• Reported 2024 revenue of $517 million, up 55% from $334 million in 2023, with commercial activity in 35 countries.

• Q1 2025 revenue reached $186 million, a 62% year-over-year increase.

• Adjusted EBITDA rose 76% year-on-year to $67 million, reflecting strong operational leverage.

• Total shareholder return was 76% over the past 12 months.

• Capital allocation focused on reinvesting earnings into R&D, supply chain, and strategic growth.

Board and executive committee updates

• Kevin McCann chaired his final AGM, with Tiffany Olson elected as the new Chair.

• Board renewal continues, with plans to add a Director with U.S. and international experience.

• Marie McDonald joined as a Director, focusing on people, culture, and remuneration.

• The Board authorized the AGM presentation and continues to oversee strategic direction.