Slides
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Annual General Meeting 2026 23 October 2026
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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
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Adrian Fitzpatrick Independent Chair & Non- Executive Director Sue Klose Independent Non- Executive Director & Chair of People & Community Committee Sarah Adam-Gedge Independent Non- Executive Director & Chair of Audit, Risk and Compliance Committee Jean-Baptiste (JB) Rousselot 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. 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. Telecommunications and digital infrastructure executive with more than 25 years' experience in the sector. Held senior leadership and CEO roles with Telstra, NBN Co and Chorus. 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. 3 Board of Directors
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Chair’s address 4 Adrian Fitzpatrick Chair of the Board of Directors
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Aussie Broadband Limited Annual General Meeting 23 October 2026 Addresses by the Chair and Group CEO Chair’s Address Before we start the formal part of the meeting, I would like to take a moment to reflect on the last 12 months for the Aussie Broadband Group. FY26 was a transformational year for Aussie Broadband. While the scale of activity was significant, what is most important is that each step we took was part of a deliberate strategy to strengthen and diversify the business while positioning for sustainable, profitable growth. Through a combination of organic growth and strategic transactions, we have enhanced each segment and further advanced our Look-to-28 ambitions. The Aussie Broadband team completed four strategic transactions within six months, delivered the largest migration in NBN history, and exceeded one million total broadband connections over the second half of FY26. Throughout the year, our focus remained consistent: building a larger, more diversified and more resilient business capable of delivering sustainable long-term growth. The Company delivered a strong financial result in FY26. Group revenue increased by 9.2% to almost $1.3 billion, while underlying EBITDA reached $165.3 million, at the top end of our upgraded guidance range. Importantly, the growth achieved during FY26 was substantially organic, with the benefits of a number of strategic initiatives expected to contribute more meaningfully from FY27 onwards. Earnings per share increased by 25.8%, demonstrating our continued ability to translate growth into improved shareholder returns. The Board was also pleased to increase distributions to shareholders. During the year, ordinary fully franked dividends increased by 50%, from 4 cents per share to 6 cents per share. In August, we also announced an on-market share buyback of up to $115 million, reflecting the Board's confidence in the Company's outlook, balance sheet strength and cash generation capability. Growth was achieved across all operating segments, highlighting the strength of our diversified business model. While Residential remains the largest contributor to the Group, our Business, Enterprise and Government and Wholesale operations continue to expand and provide additional avenues for growth and earnings diversification.
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FY26 was also a year of portfolio evolution. We completed a number of strategic initiatives that strengthened different parts of the Group, increased scale and broadened our capabilities. These actions were not undertaken for short-term outcomes, but rather to support our long-term ambitions and create enduring value for shareholders. With much of that activity now complete, our current focus is integration, execution and realising the benefits of those investments. FY26 also saw several changes across both the Aussie Broadband Board and our leadership team. I would like to formally welcome our Group Chief Financial Officer, Darren Rowland, to his first Aussie Broadband AGM. Darren joined the Company earlier this year and has already made a significant contribution through his commercial insight, strategic perspective and focus on disciplined execution. I would also like to thank Andy Giles Knopp for his contribution to the business over the past two years. At Board level, we recently welcomed Jean-Baptiste Rousselot as a Non-Executive Director. JB brings deep telecommunications experience and a strong industry perspective that will be valuable as the Company continues to grow and evolve. I would also like to acknowledge those who have recently departed the Board. In particular, I want to thank Phillip Britt for his extraordinary contribution to Aussie Broadband. Alongside John Reisinger and Pat Greene, Phil helped build a business that has become one of Australia's leading telecommunications companies. I would also like to thank Graeme Barclay for his contribution during his time on the Board. On behalf of shareholders and the broader Company, we thank them all for their service and commitment. The Board continues to review its composition and capabilities, and we remain well progressed in the search for an additional director to complement the skills and experience already represented around the Board table. Finally, I would like to recognise our people. The achievements of FY26 were only possible because of the dedication, professionalism and commitment of more than 1,600 employees across the Group. Their efforts have enabled us to grow, evolve and continue delivering for customers and shareholders alike. On behalf of the Board, thank you to our shareholders for your continued support and confidence in Aussie Broadband. I will now hand over to Brian Maher, who will take you through our FY26 performance and provide a brief update on the year ahead.
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Group CEO’s address 5 Brian Maher Group Chief Executive Officer
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Group CEO’s Address FY26 HIGHLIGHTS Good morning everyone, and thank you for joining us here in the room and online. Twelve months ago, at my first AGM as Group CEO, I told you the More and Tangerine agreement would take us past one million broadband connections. Today we have more than 1.3 million connections on our network, and having nearly completed the migration of AGL Telco customers, we are now Australia’s third-largest NBN provider. FY26 was a defining year for Aussie Broadband. We delivered organic growth across all three operating segments, increased earnings, completed a number of important strategic initiatives and continued to grow our market share. Broadband connections exceeded 1.1 million during the year and our NBN market share increased to 12.1%. Importantly, we also completed the largest NBN migration undertaken to date and materially strengthened the scale and diversification of the business. While the second half of FY26 and the start of FY27 have been operationally busy, with multiple migrations occurring at the same time, the strategic work we set out to complete is now largely behind us. Today, the business is larger, more diversified and better positioned for future growth than it was twelve months ago. FINANCIAL HIGHLIGHTS Turning first to our financial performance. Group revenue increased 9.2% to almost $1.3 billion, driven by organic growth across all operating segments. Importantly, much of that growth was achieved before the full financial benefits of our strategic initiatives begin to flow through. The stronger story was below the revenue line. Underlying EBITDA increased 19.6% to $165.3 million, while earnings per share increased 25.8% to 23.9 cents. Operating cash flow increased by more than 40%. These results demonstrate the increasing scale of the business, improving operating leverage and our ability to convert growth into stronger earnings and cash generation. As Adrian mentioned, the Board increased fully franked dividends by 50% to 6 cents per share and announced an on-market share buyback of up to $115 million. To date, we have purchased more than 11.7 million shares, which represents 37% of the total buyback.
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Together, these initiatives reflect our confidence in the outlook for the business and our commitment to creating value for shareholders. We continue to be disciplined with our capital management and remain in a strong financial position, enabling us to pursue both organic and inorganic growth opportunities in the future. OPERATIONAL METRICS In terms of operational performance on the next slide, broadband connections grew by 323,000 in the financial year to reach 1.1 million by the end of June. That number continues to grow and, as previously mentioned, is now sitting at over 1.3 million. Our share of the NBN market rose 3.7 percentage points to 12.1%. To put that into perspective, when we listed on the ASX in 2020, it was 4%. Mobile continues to build momentum with 22% growth in services across the year. International roaming was launched in May followed by eSIM capability in August. These product additions make bundling services together even more attractive for our customers. And, as we have seen, customers that bundle services do stay with us longer. DIVERSIFIED GROWTH PLATFORM I want to spend a few minutes on the strategic transactions, because each one strengthens a different part of the business. Starting with the Residential segment, we completed the acquisition of AGL’s telco business in June. Just as important is the long-term partnership that comes with it. AGL keeps selling telco under its own brand, bundled with energy, and we provide the network and the customer experience. That opens a channel into one of Australia’s largest energy retailers. Our five-year goal is 500,000 connections, just 12% of AGL’s 4.2 million energy customers. Migration started on time in July and we expect to finish by the end of this month with approximately 320,000 connections across broadband and mobile. AGL launched new customer acquisition campaigns in late September to drive growth. In the Wholesale segment, we added 269,000 broadband services with the More and Tangerine migration. Through More’s partnership with CommBank Yello, it also gives us an indirect Big 4 banking channel. Short-term volume impacts on migrated More and Tangerine connections, as communicated in August, have now been mitigated. We have seen modest volume growth in October to date, and we expect continued growth going forward.
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Nexgen gives us stronger small and medium business capability for our Business, Enterprise and Government segment. This includes national reach, an experienced sales team, and a broader product set, including agentic AI tools for small business. It’s performing in line with expectations with leads from Aussie driving additional growth. LOOK-TO-28 Last year I said we would refresh our Look-to-28 strategic ambitions to reflect the More and Tangerine Wholesale Services Agreement. Since then, we haven’t just successfully delivered the More and Tangerine migration, we’ve also materially strengthened the business through the acquisitions of AGL Telco and Nexgen, while continuing to deliver organic growth across our operating segments. As a result, we significantly upgraded those ambitions to reflect the increased scale, diversification and earnings potential of the business today. As always, these are ambitions, not guidance. The path is clear: FY26 was the year we executed the transactions. FY27 is the year we complete the migrations and embed the teams and operations that joined us. And FY28 is when we really start to see the benefits of scale show up fully in our earnings. Our overarching ambition hasn’t changed: to be the telco people love, for our customers, our people, our partners and you, our shareholders. FY27 GUIDANCE AND TRADING UPDATE Before we move to the formal business, here’s how FY27 has started. Broadband connections have continued to grow; migration activities are nearing completion and integration of our recent initiatives is progressing well. As we worked through the More, Tangerine and AGL migrations, there was inevitably some short- term customer disruption and operational noise. That is not unusual when moving hundreds of thousands of services and these effects will dissipate in the next few weeks. Year to date, we have added more than 193,000 broadband connections which means that our total connections now exceeds 1.3 million. We have continued to deliver organic growth across all three segments. Excluding the recently migrated AGL, More and Tangerine customers, we have grown by 18,800 connections. Of this, 11,000 represents organic net growth within our residential segment. We today reaffirm our FY27 guidance of underlying EBITDA between $205 million and $215 million and capital expenditure between $60 million and $65 million, as announced at our FY26 results. Beyond that, the business has started the year well.
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Our priorities remain straightforward: • continue to grow organically • complete integration activities • realise the benefits of recent transactions • improve productivity and operating leverage • continue executing against our Look-to-28 ambitions. KEY TAKEAWAYS My key messages today are straightforward. FY26 was a transformational year. We delivered organic growth, increased earnings and successfully executed a number of important strategic initiatives. The last six months have been busy operationally as we worked through two of the largest migrations undertaken in the Australian telecommunications market. That disruption has created some short-term noise in our operating metrics and customer numbers. Now that migration activity is nearing completion we will now be focused on integration, growth and benefits realisation. We remain well positioned to deliver our Look-to-28 ambitions. The business is larger, more diversified and has multiple drivers of future earnings growth across Residential, Business, Enterprise and Government, and Wholesale. To the more than 1,600 people across Aussie Broadband, Symbio and Nexgen: thank you. Moving more than half a million services onto our network in a year, while always keeping the customer front of mind, is no small thing. You are the reason we continue to win accolades for our service. Thank you to our customers, and to our partners at AGL, More and Tangerine, for trusting us. And to you, our shareholders, thank you for your support through a big year. I’ll now hand back to Adrian to take us through the items of business.
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FY26 Highlights 6 NBN market share of 12.1%3 and growing; momentum in mobile Broadband connections exceed 1.1 million (+41% on pcp); positioning as a premium Telco across Residential, BE&G and Wholesale supporting sustained growth. Positive organic growth start to FY27. Underlying EBITDA1 up 19.6%; EPSA2 up 25.8% Organic growth across all three operating segments, growing scale and improving operating leverage Migration of More & Tangerine connections completed Largest NBN migration to date, adding significant scale and earnings uplift from FY27; indirect banking partnership broadens channels to market and customer reach Strategic repositioning of the portfolio Strategic transactions deliver step change in connections, channel expansion and strengthened SME capability to deliver scale, diversification and accelerated growth Well positioned to deliver upgraded Look-to-28 ambitions; diversified platform to drive sustainable growth Platform established for organic growth to deliver upgraded Look-to-28 ambitions Strong organic growth together with execution of strategic transactions materially strengthens Aussie Broadband 1. Underlying EBITDA calculated as statutory EBITDA, adding back one-off items. Refer to FY26 results investor presentation for reconciliation of underlying EBITDA to statutory accounts. 2. EPSA calculated as Underlying NPATA divided by the weighted average number of shares 3. At 30 June 2026; excludes NBN Satellite
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39.4 89.6 120.5 138.2 165.3 0 20 40 60 80 100 120 140 160 180 FY22 FY23 FY24 FY25 FY26 $ million 42.3 121.9 128.2 117.3 167.2 0 50 100 150 200 FY22 FY23 FY24 FY25 FY26 $ million 7 546.9 788.0 999.7 1,186.5 1,295.4 0 200 400 600 800 1,000 1,200 1,400 FY22 FY23 FY24 FY25 FY26 $ million 10.0 37.4 45.0 55.8 70.2 0 20 40 60 80 FY22 FY23 FY24 FY25 FY26 $ million Earnings momentum translating into strong cash generation FY26 Financial highlights 1. Underlying EBITDA calculated as statutory EBITDA, adding back one-off items. Refer to FY26 results investor presentation for reconciliation of underlying EBITDA to statutory accounts. 2. Underlying NPATA calculated as statutory NPAT, adding back post-tax one-off items and post-tax acquired intangible amortisation. Refer to FY26 results investor presentation for statutory P&L. 3. Calculated as Underlying NPATA divided by the weighted average number of shares 4. Operating cash flow before interest and tax 10.0 17.5 19.3 19.0 23.9 0 5 10 15 20 25 30 FY22 FY23 FY24 FY25 FY26 Cents 0 - 1.6 2.4 0 0 4.0 2.4 3.6 - 1 2 3 4 5 6 7 FY22 FY23 FY24 FY25 FY26 Cents per share Interim Final Revenue +9.2% on pcp Underlying EBITDA1 +19.6% on pcp Underlying NPATA2 +25.8% on pcp EPSA3 +25.8% on pcp Operating Cash Flow4 +42.5% on pcp Ordinary dividend +50.0% on pcp 4.0 6.0
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8 FY26 Operational metrics 1. As measured by Roy Morgan 2. On-net connections excludes NBN Satellite 3. Market share calculation excludes NBN Satellite Improvement in key operating metrics accelerates earnings growth Up 5.9% vs Jun-25 12.1% 1.11m 8.3m Numbers hosted on Symbio & NetSIP 2,058km Market share of on- net NBN services3 Broadband connections across the Group Mobile services across the Group Australia’s most trusted telco Most trusted Telco brand for the fifth consecutive year1 Call minutes across domestic networks Aussie Fibre Network8.8 bn 1.31 Connections per building Up 48k or 22% vs Jun-25 Up 3.7 ppts vs Jun-25 Up 323k or 41% vs Jun-252 Up 0.7% vs Jun-25 263k
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Diversified growth platform strengthened through strategic transactions Earnings upside through net connections growth and synergies 5-year target of 500k connections, representing 12% of AGL’s 4.2 million energy customers Residential Segment Transactions executed across all three operating segments Earnings growth potential from large customer base and increasing data usage Exposure to CBA’s customers through More partnership Wholesale Segment Earnings growth and margin expansion through higher ARPU Improved lead conversion (mid-market focus) Cost synergies BE&G Segment OPPORTUNITY OPPORTUNITY OPPORTUNITY PROGRESS PROGRESS PROGRESS ~320k connections expected at migration completion by end of October; sales channels reactivated to drive renewed customer growth Migration completed on schedule; connections expected to return to growth in Q2 FY27 Realisation of synergies and ABB-sourced lead conversion tracking in line with expectations, delivering uplift in earnings9
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Building accelerating momentum towards Look-to-28 10 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 within the FY26 results investor presentation for further information. Growth rates are referenced from FY25. 2. Excluding satellite 3. EPSA - based on underlying NPATA in FY25 10 Upgraded ambitions supported by strong FY26 performance, expanded scale and a strengthened market position Pathway to Look-to-28, mapped across 3 financial years FY26 (complete) FY27 (in progress) FY28 (future) • Scale driving further operating leverage • Transaction benefits realised • Productivity initiatives improving margin • Continued organic growth and strategy execution • Strategic transactions executed, portfolio repositioned for sustained growth • Customer migrations complete, increasing scale • Newly acquired teams & operations embedded • Productivity and efficiency benefits emerging
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600,000 700,000 800,000 900,000 1,000,000 1,100,000 1,200,000 1,300,000 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Residential (ex. Buddy) Residential - Buddy Business, Enterprise & Gov't Wholesale FY27 Guidance and Trading Update 11 1. As at 20 October 2026. Includes AGL residential connections migrated 2. Includes More & Tangerine connections migrated from Mar-26 Broadband connections QoQ change YoY change to 30 Sep 26 FYTD change Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Oct-261 Dec-25 Mar-26 Jun-26 Sep-26 Total % Total Residential (ex. Buddy) 653,180 666,373 679,350 682,601 871,033 879,292 13,193 12,977 3,251 188,432 217,853 33.4% 196,691 Residential - Buddy 16,144 16,178 - - - - 34 nm nm nm nm nm nm Business, Enterprise & Gov't 83,120 86,577 89,763 92,579 95,549 96,109 3,457 3,186 2,816 2,970 12,429 15.0% 3,530 Wholesale2 54,935 58,555 90,045 336,194 328,594 329,349 3,620 31,490 246,149 (7,600) 273,659 498.2% (6,845) Total 807,379 827,683 859,158 1,111,374 1,295,176 1,304,750 20,304 31,475 252,216 183,802 487,797 60.4% 193,376 Highlights • Continued customer momentum - more than 193,000 broadband connections added FYTD through organic growth and customer migrations1 • Total organic growth, excluding AGL and More & Tangerine, of 18,800 • Residential organic growth of 11,000 connections • Strong underlying growth in BE&G and Wholesale • FY27 Underlying EBITDA guidance of $205 million to $215 million reconfirmed; FY27 Capex expected between $60 million and $65 million Quarterly broadband connections
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Key takeaways 12 Diversified growth platform strengthened through increased scale, channel expansion and capability uplift Immediate earnings contribution, with limited incremental capital requirements and execution risk post migration Residential – strong broadband customer retention, pricing discipline and contribution from AGL Telco migration BE&G – continued mid-market and large customer growth; small business growth supported by Nexgen’s product offering and sales capability Wholesale – scalable platforms and partner demand supporting growth across products Strategic transactions driving Group evolution and expansion Multiple drivers supporting sustainable earnings growth Positioned for the next phase of growth Continued organic growth across segments Completion of AGL migration in October Continued progress on operating leverage Strategic transactions support each operating segment and expand our growth platform Focus on scale, efficiency and benefits realisation from strategic transactions to support margin expansion FY27 guidance of 24% to 30% EBITDA growth continues momentum Well positioned to deliver Look- to-28 ambitions
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Thank you Aussie Broadband Limited Investors contact: investors@team.aussiebroadband.com.au Authorised for release by the Aussie Broadband Board 13
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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. 14