APA Group (APA) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land custodians and confirmation of quorum for the 2025 annual meeting.

• Security holders could participate in person or online, ask questions, and vote on all items by poll throughout the meeting.

• Board members, executive team, and external auditor were introduced; agenda and notice of meeting were taken as read.

Financial performance review

• Celebrated 25 years as an ASX-listed entity, now owning $27 billion in energy assets and transporting about half of Australia's natural gas.

• Achieved over two decades of uninterrupted distribution growth; FY2025 revenue and earnings growth were at the upper end of guidance.

• FY2025 segment revenue (excl. pass-through) rose 5.2% to $2.7B; underlying EBITDA up 6.4% to just over $2B; net profit after tax up 8.4%.

• Cost growth was kept below inflation; a $50M cost-out target was set for FY2026.

• FY2026 EBITDA guidance midpoint represents 7.2% YoY growth, supported by inflation-linked revenues and new assets.

Board and executive committee updates

• Board renewal included retirements and new appointments: Sam Lewis and David Lamont joined, Varya Davidson appointed and standing for election.

• James Fazzino and Rhoda Harrington offered themselves for re-election; all addressed the meeting, highlighting their experience and commitment.