The Lottery Corporation (TLC) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed attendees, acknowledged traditional custodians, and introduced the Board and executive team.

• Outlined procedures for questions, voting, and meeting conduct, with voting on all resolutions via poll.

• Notice of meeting, formal addresses, and presentations were published on the ASX and company website.

• Acknowledgement of Country and commitment to reconciliation with Australia's First Peoples.

Financial performance review

• Group revenue reached $3,748.9 million, with EBITDA at $749.3 million and NPAT at $365.5 million for FY25.

• Revenue declined 6% year-on-year, impacted by fewer large jackpots and economic pressures.

• Ordinary dividends increased to 16.5 cents per share, fully franked, with a 3.1% growth and a 100% payout ratio.

• Over $1.7 billion paid in state taxes, $5.3 billion in prizes, and $655 million in commissions to retail partners.

• Portfolio diversification and active management contributed to resilient financial results.

Board and executive committee updates

• Tim Poole joined as Non-Executive Director; Anne Brennan and John O'Sullivan stood for re-election.

• CEO Sue van der Merwe announced retirement; Wayne Pickup appointed as new CEO, pending regulatory approval and to commence in November 2025.

• Board comprises an independent chairman, managing director/CEO, and several independent non-executive directors.

• Board focused on strategy, risk management, and stakeholder engagement.