Slides
Page 1
Annual General Meeting 2025 14 October 2025 For personal use only
Page 2
We acknowledge Aussie Broadband acknowledges Aboriginal and Torres Strait Islanders as the First Australians, and their role as the original communicators, connectors, and carers of the land and waters across Australia. We pay our respects to Elders past and present. We commit to working respectfully to honour ongoing cultural and spiritual connections between the Traditional Owners and this country, and to building an inclusive Australia together. 2 For personal use only
Page 3
3 Agenda Our speakers Adrian Fitzpatrick Independent Chair & Non-Executive Director Brian Maher Group Chief Executive Officer Annual General Meeting 2025 1. Chair’s address 2. Group CEO address 3. Items of Business 4. General questions For personal use only
Page 4
How to vote • When the poll is open, select the vote icon at the top of the screen • To vote, select either For, Against or Abstain • You will see a vote confirmation • To change or cancel your vote “click here to change your vote” at any time until the poll is closed For personal use only
Page 5
How to ask a question • To ask a written question, select the Q & A icon • Select the topic your question relates to from the drop-down list • Type your question in the text box and press the send button • To ask a verbal question follow the instructions below the broadcast window. For personal use only
Page 6
Adrian Fitzpatrick Independent Chair & Non-Executive Director Sue Klose Independent Non- Executive Director & Chair of People & Community Committee Patrick Greene Independent Non- Executive Director Sarah Adam- Gedge Independent Non- Executive Director & Chair of Audit, Risk and Compliance Committee Phillip Britt Non-Executive Director & Special Technical Adviser Graeme Barclay Independent Non- Executive Director Michael Omeros Executive Director & Group Executive - Wholesale Experienced director, currently a director of ARB Corporation. Extensive operational, financial management and strategic experience from a career that has spanned 30 years. Has held senior management roles including Chief Marketing Officer at GraysOnline and Chief Operating Officer at 12WBT. Is a Non- Executive director of Acusensus (ASX:ACE) and WeWork Australia. Extensive sales, marketing, financial and management experience. Owned retail businesses since 1987 and won Franchisee of the Year awards. Co- founder of Westvic Broadband before its merger to form Aussie Broadband. Previous CEO and Managing Director across several technology and digital businesses. Has extensive financial management experience and is an experienced member of audit and risk committees. Has over 25 years of experience in the telecommunications industry. Awarded the ACOMMS Communications Ambassador in 2020 and is an inductee into the telco Industry Edisons Awards Hall of fame. Has over 40 years of experience across professional services, investment banking, and telecommunications infrastructure. Previously CEO of BAI Communications and Chair of Uniti Group. Current Chair of Codan Limited. Has over 20 years of experience in the telecommunications and IT services sector. Co-founder and Managing Director of Over The Wire Holdings prior to its acquisition by the Company. 6 Board of Directors For personal use only
Page 7
Chair’s address 7 Adrian Fitzpatrick Chair of the Board of Directors For personal use only
Page 8
Group CEO’s address 8 Brian Maher Group Chief Executive Officer For personal use only
Page 9
FY25 Financial highlights 1. Underlying EBITDA calculated as statutory EBITDA, adding back post-tax one-off items 2. Operating cash flow before interest and tax 3. Underlying NPATA calculated as statutory NPAT, adding back post-tax one-off items and post-tax acquired intangible amortisation 4. Calculated as Underlying NPATA divided by the weighted average number of shares in FY24 (270,829,798 ordinary shares) and in FY25 (293,373,485 ordinary shares) Revenue $1,187.1m Up 18.7% EPS4 19.0 cents Down 0.3 cents Underlying NPATA3 $55.8m Up 6.5% Operating Cash Flow2 $117.3m Down 8.5% Underlying EBITDA1 $138.2m Up 14.7% EBITDA1 at top end of upgraded guidance; 6.5% growth in NPATA3 9 For personal use only
Page 10
Diversification drives continued growth 57% 9% 8% 8% 18% REVENUE BY SEGMENT 49% 10% 7% 12% 22% GROSS PROFIT BY SEGMENT $ million 10 71%5% 19% 3% 2% REVENUE BY PRODUCT 62% 3% 29% 4% 1% GROSS PROFIT BY PRODUCT 350.3 546.9 788.0 999.7 1,187.1 28.1% 29.5% 35.4% 36.1% 36.7% 20% 24% 28% 32% 36% 0 400 800 1,200 FY21 FY22 FY23 FY24 FY25 $ million Revenue Gross margin 19.0 39.4 89.6 120.5 138.2 5.4% 7.2% 11.4% 12.1% 11.6% 12.5% 0% 4% 8% 12% 0 40 80 120 160 FY21 FY22 FY23 FY24 FY25 Underlying EBITDA Underlying EBITDA margin Underlying EBITDA margin ex Buddy Note: Underlying EBITDA excludes one-off costs but includes Share Based Payments For personal use only
Page 11
FY25 Operational metrics 8.4% 788k 216k 8.2m Numbers hosted on Symbio & NetSIP Up 9.3% vs Jun-24 1,958km Market share of on-net NBN services¹ Broadband connections across the Group2 Mobile services across the Group Australia’s most trusted telco Most trusted Telco brand for the fifth consecutive year 3 Call minutes across our domestic networks Up 1.1% vs FY24 Aussie Fibre Network Connected buildings 896 8.7 bn >2,600 Near-net buildings 1. Market share calculation excludes NBN Satellite and Origin white-label services 2. On-net connections excludes NBN Satellite and Origin white label services 3. As measured by Roy Morgan Up 35k vs Jun-24Up 1.1 ppts vs Jun-241 Up 104k vs Jun-24 1.2 Connections per building 11 For personal use only
Page 12
Building value for the future 12 Our ambition We are changing the game and in doing so will be the telco people love for all our customers, people, partners, stakeholders and our investors. Our values Don’t be ordinary, be awesome Think BIG No bullsh*t Be good to people Have fun NBN market share2 >11% c1m connections Our strategic ambitions 1 Group revenue >$1.6bn + c35% Residential contribution <60% EBITDA margin >12.5% EPS growth³ >20% CAGR Our strategic priorities Develop systems aimed at scalable growth Expand Aussie Fibre Grow across all segments and countries Evolve and enhance customer experience Constant focus on security to underpin trust 1. These strategic ambitions do not constitute guidance and carry risks and uncertainties, including from events beyond Aussie Broadband’s control. See the Important Notice & Disclaimer on slide 43 for further information. 2. Excluding satellite 3. Based on underlying NPATA in FY2512 For personal use only
Page 13
13 • ARPC growth through new customer acquisition and cross-sell to existing base • Leveraging our growing referenceability in the E&G market to deliver major contracts • Aussie Fibre supports growth with disciplined ROI focus • Sales pipeline growth - Carbon, AdvancedPBX and Aussie Fibre provide a competitive moat • Further integration between Aussie and Symbio to unlock additional CX capabilities • Synergies from Symbio on track for $8-12m in FY26 Residential Business and E&G Wholesale Laying foundations for strong customer loyalty across segments Brian Maher Group Chief Executive Andy Giles Knopp Group Chief Financial Officer Cheryl Cai Chief Legal Officer and Company Secretary Brad Parker Chief Technology Officer Jane Betts Chief People and Reputation Officer GROUP EXECUTIVES Jonathan Prosser GE Residential Aaron O’Keeffe GE Business and E&G Michael Omeros GE Wholesale Realigned operating structure • Well placed to benefit from shift to fibre and NBN speed upgrades • Mobile growth expected to accelerate • Margin expansion through improved productivity and digital CX capability For personal use only
Page 14
Growing wholesale presence with More and Tangerine 1. Based on estimated More and Tangerine connections at the time of migration; 2. Based on FY25 underlying NPATA before amortised incentives of $5m per annum over the duration of the contract 14 Material uplift in Aussie Broadband’s connections, earnings and growth outlook • Boosts NBN broadband connections to 1 million+ • $12m in annualised EBITDA¹ from FY27; further upside from fast-growing customer base • 12% accretive² to underlying EPS on a pro forma basis Connections to be migrated in H2 FY26 An exclusive six-year wholesale agreement with More and Tangerine • Successful in competitive process • 250,000 NBN broadband customers across two brands, anticipated 290,000 connections post migration including Buddy connections • Strong future growth profile through CommBank partnership and discounts Launching Nitrogen, a proprietary wholesale platform • New platform to underpin network systems • Enables wholesale partners to scale their operations, allowing many features to be performed in the same way as if they had direct connectivity to NBN In consideration for the agreement: • 5,876,944 Aussie Broadband shares to be issued; shares subject to escrow • Cash incentives and rebates payable upon achievement of key milestones and growth targets For personal use only
Page 15
Trading Update and Guidance Highlights • Encouraging net new connections growth of approximately22,600 FYTD¹, following a round of annual price changes and increased market activity around the NBN speed upgrades • Significant acceleration in net connections growth since speed bestowal 'go live' in mid-September • 5-year strategic partnership with Accor Hotels in Australia • 5-year contract with Bakers Delight across its domestic and international network • FY26 Underlying EBITDA guidance of $157 million to $167 million; FY26 Capex guidance of $55 million to $60 million 1. FYTD to 11 October 2025 15 Broadband connections QoQ change YoY change Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 11 Oct 25 Dec-24 Mar-25 Jun-25 Sep-25 Total % Residential 605,408 621,846 641,118 656,049 669,324 672,025 16,438 19,272 14,931 13,275 63,916 10.6% Business 58,768 60,837 62,929 64,482 66,362 66,691 2,069 2,092 1,553 1,880 7,594 12.9% Enterprise & Gov’t 13,736 14,532 15,149 15,814 16,758 16,817 796 617 665 944 3,022 22.0% Wholesale 28,506 30,736 33,034 52,066 54,935 55,447 2,230 2,298 19,032 2,869 26,429 92.7% Total 706,418 727,951 752,230 788,411 807,379 810,980 21,533 24,279 36,181 18,968 100,961 14.3% 400,000 500,000 600,000 700,000 800,000 900,000 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Quarterly broadband connections Residential Business Enterprise & Gov't Wholesale For personal use only
Page 16
Key takeaways 16 Aussie Broadband’s core business remains strong and continues to grow year on year New leadership team following transition of founders and appointment of new Group CEO Business realigned into three new segments – Residential, Business and Enterprise & Government, and Wholesale Look-to-28 strategy launched Financial results delivered at top end of upgraded guidance A year of transition Accelerating growth to deliver Look-to-28 ambitions Business & E&G - robust sales and delivery pipeline Residential winning in a high-speed world Exclusive 6-year agreement to provide wholesale service to More and Tangerine which will contribute to earnings from FY27; immaterial impact on FY26 Final fully franked dividend of 2.4 cents declared for FY25 and flexibility with share buyback available until November 2025 We will continue to explore M&A opportunities FY26 guidance of between 14% and 21% EBITDA growth reflects positive momentum Capital management framework For personal use only
Page 17
Items of Business 17 For personal use only
Page 18
Financial Statements for the year ended 30 June 2025 18 For personal use only
Page 19
19 Items of Business “That the Remuneration Report for the year ended 30 June 2025 be adopted.” Item 2: Adoption of Remuneration Report To consider and, if thought fit, to pass the following resolution as an ordinary resolution: Number Percentage For 151,050,976 97.33% Open – Chair1 166,528 0.11% Open – Others 263,394 0.17% Against 3,709,131 2.39% 1. Chair will vote open proxies in favour of the resolution Total proxies received for Item 2 in advance of the meeting represent 53.05% of issued shares. For personal use only
Page 20
20 Items of Business ‘That Michael Omeros, being eligible, be re-elected as a Director.’ Item 3(a): Re-election of Mr Michael Omeros as a Director To consider and, if thought fit, to pass the following resolution as an ordinary resolution: Number Percentage For 156,624,624 93.85% Open – Chair1 168,935 0.10% Open – Others 264,310 0.16% Against 9,832,555 5.89% Total proxies received for Item 3(a) in advance of the meeting represent 57.04% of issued shares. For personal use only
Page 21
21 Items of Business Item 3(b) Election of Mr Phillip Britt as a Director 1. Chair will vote open proxies in favour of the resolution Number Percentage For 159,642,964 95.66% Open – Chair1 178,681 0.11% Open – Others 264,310 0.16% Against 2,347,319 1.41% Total proxies received for Item 3(b) in advance of the meeting represent 57.03% of issued shares. To consider and, if thought fit, to pass the following resolution as an ordinary resolution: ‘That Phillip Britt, being eligible, be elected as a Director.’ For personal use only
Page 22
22 Items of Business Item 3(c) Election of Mr Graeme Barclay as a Director 1. Chair will vote open proxies in favour of the resolution Number Percentage For 164,079,896 98.32% Open – Chair1 178,681 0.11% Open – Others 264,310 0.16% Against 2,347,319 1.41% Total proxies received for Item 3(c) in advance of the meeting represent 57.03% of issued shares. To consider and, if thought fit, to pass the following resolution as an ordinary resolution: ‘That Grame Barclay, being eligible, be elected as a Director.’ For personal use only
Page 23
23 Items of Business Item 3(d) Election of Ms Sarah Adam-Gedge as a Director 1. Chair will vote open proxies in favour of the resolution Number Percentage For 164,277,326 98.17% Open – Chair1 186,440 0.11% Open – Others 264,310 0.16% Against 2,603,934 1.56% Total proxies received for Item 3(d) in advance of the meeting represent 57.19% of issued shares. To consider and, if thought fit, to pass the following resolution as an ordinary resolution: ‘That Sarah Adam-Gedge, being eligible, be elected as a Director.’ For personal use only
Page 24
24 Items of Business “That approval be given, for all purposes, for the grant of 13,794 Zero Exercise Price Options (ZEPOs) to Phillip Britt under the FY25 LTI Plan.” Item 4(a) Approval of securities under the Long-Term Incentive Plan (LTI Plan) To consider and, if thought fit, to pass the following resolution as an ordinary resolution: Number Percentage For 153,267,681 98.69% Open – Chair1 222,674 0.14% Open – Others 264,310 0.17% Against 1,551,077 1.00% Total proxies received for Item 4(a) in advance of the meeting represent 53.09% of issued shares. 1. Chair will vote open proxies in favour of the resolution For personal use only
Page 25
25 Items of Business “That approval be given, for all purposes, for the grant of 51,892 ZEPOs to Michael Omeros under the FY25 LTI Plan.” Item 4(b) Approval of securities under the Long-Term Incentive Plan (LTI Plan) To consider and, if thought fit, to pass the following resolution as an ordinary resolution: Number Percentage For 153,339,867 98.75% Open – Chair1 166,307 0.11% Open – Others 264,310 0.17% Against 1,503,544 0.97% Total proxies received for Item 4(b) in advance of the meeting represent 53.07% of issued shares. 1. Chair will vote open proxies in favour of the resolution For personal use only
Page 26
26 Items of Business “That approval be given, for all purposes, for the grant of 67,700 ZEPOs to Michael Omeros under the FY26 LTI Plan.” Item 4(c) Approval of securities under the Long-Term Incentive Plan (LTI Plan) To consider and, if thought fit, to pass the following resolution as an ordinary resolution: Number Percentage For 140,188,171 90.28% Open – Chair1 163,456 0.11% Open – Others 264,310 0.17% Against 14,655,021 9.44% Total proxies received for Item 4(c) in advance of the meeting represent 53.08% of issued shares. 1. Chair will vote open proxies in favour of the resolution For personal use only
Page 27
27 Items of Business “That the maximum aggregate annual remuneration that may be paid by the Company to all of the Non-Executive Directors be increased by $350,000 from $850,000 per annum to $1,200,000 per annum.” Item 5: Increase in Non-Executive Director Fee Pool To consider and, if thought fit, to pass the following resolution as an ordinary resolution 1. Chair will vote open proxies in favour of the resolution Number Percentage For 153,687,438 99.03% Open – Chair1 165,935 0.11% Open – Others 263,394 0.17% Against 1,066,395 0.69% Total proxies received for Item 5 in advance of the meeting represent 53.04% of issued shares. For personal use only
Page 28
28 Items of Business “That the issue of 5,876,944 fully paid ordinary shares pursuant to the agreement with More Telecom Pty Ltd is approved for the purposes of ASX Listing Rule 7.4 and for all other purposes.” Item 6: Ratification of prior issue of shares To consider and, if thought fit, to pass the following resolution as an ordinary resolution Number Percentage For 160,691,998 99.57% Open – Chair1 168,288 0.10% Open – Others 264,310 0.16% Against 268,687 0.17% Total proxies received for Item 6 in advance of the meeting represent 55.16% of issued shares. 1. Chair will vote open proxies in favour of the resolution For personal use only
Page 29
General Questions 29 For personal use only
Page 30
Thank you Aussie Broadband Limited Investors contact: investors@team.aussiebroadband.com.au Authorised for release by the Aussie Broadband Board 30 For personal use only
Page 31
Important notice and disclaimer The information in this presentation is intended to be general background information on Aussie Broadband Limited (ACN 132 090 192) (Company) and its activities and operations. This presentation is for information purposes only and it is not financial product or investment advice. The information and presentation is in summary form and is not intended to be comprehensive or provide all information required by investors to make an informed decision on any investment in the Company and is therefore not necessarily complete. It is intended to be read by a professional analyst audience and is not intended to be relied upon as advice to investors or potential investors, who should consider seeking independent professional advice depending on their specific investment objectives, financial situation or particular needs. In preparing this presentation, the Company did not take into account the investment objectives, financial situation, or particular needs of any particular reader. Readers should obtain their own investment, legal, and tax advice before taking any action on any information dealt with in the presentation. The views expressed in this publication may contain information derived from publicly available sources that have not been independently verified. No representation or warranty, express or implied, is made or given by or on behalf of the Company, any of its directors, or any other person about the accuracy, completeness, reliability or fairness of the information or opinions contained in this presentation. No responsibility or liability is accepted by any of them for that information or those opinions or for any errors, omissions, misstatements (negligent or otherwise), or for any communication, written or otherwise, contained or referred to in this presentation. Neither the Company nor any of its directors, officers, employees, advisors, associated persons, or subsidiaries are liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying upon any statement in the presentation or any document supplied with this presentation, or by any future communications in connection with those documents and all of those losses and damages are expressly disclaimed. All amounts are in Australian Dollars ($ or AUD) unless otherwise indicated. A number of figures, amounts, percentages, estimates, calculations of value, and fractions in this presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation. Investors should also be aware that certain financial data included in this presentation including EBITDA and measures described as ‘pro forma’, are ‘non-IFRS financial information’ under ASIC Regulatory Guide 230 (Disclosing non-IFRS financial information). The non-IFRS financial information financial measures do not have a standardised meaning prescribed by Australian International Financial Reporting Standards (AIFRS) and, therefore, may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with AIFRS. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS financial measures included in this presentation. This presentation may contain forward-looking statements regarding the Company’s intent, belief, or current expectations with respect to its business and operations, market conditions, results of operations, and financial conditions. Words such as ‘will’, ‘may’, ‘expect’, ‘indicative’, ‘plan’, ‘intend’, ‘seek’, ‘would’, ‘should’, ‘risk’, ‘forecast’, ‘estimate’, ‘aim’, ‘anticipate’, ‘target’, believe’, ‘guidance’ and similar expressions indicate forward-looking statements that reflect the Company’s current views with respect to future events and are subject to change and involve risks, uncertainties and assumptions that could cause actual outcomes to differ materially from the outcomes anticipated. Accordingly, readers should not place undue reliance on forward- looking statements. The Company is under no obligation to update any of the forward-looking statements contained within this presentation, subject to applicable disclosure requirements. To the extent that any forward-looking statements are made, verbally or in writing, by members of the Company’s management or Board in connection with this presentation, such statements are also subject to the same limitations, uncertainties, assumptions and disclaimers as set out in this presentation. In particular, the Company’s growth ambitions and projections to FY28 are not guidance and there are greater risks and uncertainties in connection with these growth ambitions and projections, including from events beyond the Company’s control. Any opinions expressed reflect the Company’s position at the date of this presentation and are subject to change. Subject to law, the Company assumes no obligation to update, review or revise any information contained in this presentation, whether as a result of new information, future events, or otherwise. Past performance cannot be relied upon as a guide to future performance. References to Aussie Broadband or the Company in this presentation are to the Aussie Broadband group including all subsidiaries, unless stated elsewhere. 31 For personal use only