TPG Telecom (TPG) AGM 2026 summary

Opening remarks and agenda

• Acknowledgement of traditional custodians and explanation of meeting procedures, including voting and Q&A protocols.

• Introduction of board members, executive team, and external advisors.

• Chairman and CEO delivered opening addresses, setting the tone for the meeting and outlining the agenda.

• Agenda included chairman and CEO addresses, formal business, resolutions, and shareholder questions.

Board and executive committee updates

• Robert Millner announced his retirement from the board; a search for a new Independent Non-Executive Director is underway.

• John Otty, appointed in August 2025, and Dr. Helen Nugent stood for election and re-election, respectively.

• Dr Helen Nugent re-elected as Non-Executive Director with 97.80% support; John Otty elected with 96.98% support.

• Board emphasized focus on long-term value creation, governance, and balanced director re-elections.

Financial performance review

• Mobile service revenue grew by 4.2% to $2,423m, with gross margin up 1.7%.

• Mobile subscribers increased by 228k to 5,742k, outpacing national population growth.

• Operating free cash flow reached $1,291m, and free cash flow to equity was $5,751m.

• Over $3.3b returned to shareholders, including a $3b capital return; $2.7b in bank borrowings repaid.

• Underlying NPATA rose by $59m to $69m, and ROIC improved to 5.42%.