Worley (WOR) AGM 2025 summary

Opening remarks and agenda

• The Chair welcomed attendees, acknowledged traditional landowners, and introduced the Board and auditor.

• The meeting was declared open with confirmation of quorum and a focus on safety as a core value.

Financial performance review

• Aggregated revenue for FY 2025 was over AUD 12 billion, up 4% from FY 2024.

• Underlying EBITDA grew 10% to AUD 823 million, with a margin of 9.2% (excluding procurement).

• NPATA reached AUD 475 million, and normalised cash conversion was 94.9%.

• Bookings totaled $17.1 billion, and backlog rose 22% to $16.9 billion.

• 60% of revenue was sustainability-related, and Scope 1 and 2 emissions were reduced by 73% since 2020.

Board and executive committee updates

• Several Board changes occurred: Sharon Warburton, Roger Higgins, and Juan Suárez Coppel stepped down; Jeanne Johns joined as an Independent Non-Executive Director.

• Tom Gorman became Chair of the Health, Safety, and Sustainability Committee.

• Justine Travers was appointed CFO effective July 1, 2025.

• Chair John Grill is seeking re-election for three years, with a succession plan in place.