Telstra Group (TLS) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with a welcome from the Head of Investor Relations and a traditional welcome to country by Elder Tony Garvey, emphasizing respect for Indigenous culture and unity.

• Housekeeping matters and voting procedures were outlined, including instructions for both in-person and online participation.

• The Chair and CEO presentations opened the meeting, followed by discussion of financial statements, director elections, CEO equity allocation, and the remuneration report.

Financial performance review

• Achieved strong FY2025 results: reported EBITDA up 14% to $8.6B, profit up 31% to $2.3B, EPS up 34% to 18.9cps, and ROIC up 1.7 points to 8.5%.

• Underlying EBITDA grew 4.6%, profit up 1.8%, cash EPS up 12% to 22.4cps, and ROIC up 1.7 points.

• Core fixed costs reduced by $306m in FY25, totaling $428m in reductions since FY22.

• Fully franked final dividend of $0.095 per share, total $0.19 for the year, a 5.6% increase.

• Completed $750M share buyback in June and commenced an additional buyback of up to $1B.

Board and executive committee updates

• Expanded from three to four board committees, splitting Audit and Risk into separate Audit and Risk & Sustainability Committees.

• Board comprised of nine directors, including the Chair and CEO.

• Changes in committee membership to align with new roles and ensure cross-membership.

• Elections and re-elections of directors, including Elko Blok, David Lamont, and Craig Dunn as Chair, with board support for all.