Sgh Limited · ASX:SGH
Sgh — Shareholder Meeting (November 2025)
31 slides from Sgh's shareholder meeting presentation, Nov 13, 2025
Slide 1: 2025 Annual General Meeting Addresses
ASX Release 13 November 2025 Company Announcements Office Australian Securities Exchange Limited 39 Martin Place SYDNEY NSW 2000 2025 ANNUAL GENERAL MEETING ADDRESSES SGH Ltd (ASX: SGH) attaches a copy of the Chairman’s Address, Managing Director & Chief Executive Officer’s Address, and Presentation
Slide 2: SGH 2025 Annual General Meeting Chairman's and CEO's Addresses
SGH 2025 Annual General Meeting Chairman’s and Managing Director & CEO’s Addresses 13 November 2025 Slide 1 – Terry Davis Opening Title Slide Good morning. I’m Terry Davis, Chairman of SGH, and on behalf of the Board, I would like to welcome you all to the 2025 AGM. There is a quorum present, and I’
Slide 3: Board of Directors
On behalf of the Board, I thank Annabelle for her ten years of dedicated service to SGH. As Chair of the Audit and Risk Committee, Annabelle has played a key role in strengthening SGH's reporting and risk oversight. She also led multiple due diligence committees across debt programs and M&A activity
Slide 4: Value Creation & Governance
Reflecting on my time with SGH, the growth in shareholder value delivered has been significant. I joined the Board at the formation of SGH, when Seven Network merged with WesTrac Holdings. Since that point we have grown into a leading industrial services and energy business and our market cap has ex
Slide 5: People – Safety & Sustainability
Slide 6 – Ryan Stokes People – Safety & Sustainability Safety remains the utmost priority across all areas of our business. SGH has over 11,000 employees and 5,000 contractors within our wholly owned business facing into Industrial activity. We are unwavering in our commitment to ensuring that every
Slide 6: People – Sustainability Progress
SGH continues to make progress on our decarbonisation roadmaps across each of our businesses. In FY25 this included Boral lifting alternative fuel use at Berrima cement to 50%, and the continued investment into solar to support our operations at WesTrac and Coates. SGH also continues to advance the
Slide 7: People – Performance
decision-making, enables rapid course correction and ensures performance is managed effectively. Disciplined execution is central to the model. It allows us to deliver for our customers and lift margins by capturing operating leverage, maintaining cost focus and converting earnings into cash. Finall
Slide 8: Operations – 4C Drivers & Flywheel
In mining production, activity remains robust and export volumes for key commodities are near record levels. As commodity prices reflect a less certain environment, customers are increasingly focused on cost management. In transitional energy, domestic gas markets are tightening, with forecasts indi
Slide 9: Operations – Market Orientation & Dynamics
Trading activity for the year to date reflects robust customer demand. Concrete and asphalt volumes are higher, particularly in Queensland. Performance initiatives continue to represent a margin opportunity and remain central to Boral’s ability to drive earnings growth over the short-term. Slide 13
Slide 10: Assets – WesTrac
Slide 15 – Ryan Stokes Assets - Media SGH holds a 40% stake in Seven West Media. Seven West has recently agreed to a merger with Southern Cross Media Group by way of a Scheme of Arrangement. The combined company will create a leading integrated media platform, expanding reach across key audiences an
Slide 11: Assets – Boral
We are in advanced stages of partner selection, with a focus on securing groups that bring the right mix of experience, ambition and execution capability to deliver the vision for this precinct. Ravenhall Logistics Precinct is a long-term opportunity to unlock significant value for SGH within Boral’
Slide 12: 2025 Annual General Meeting – Terry Davis, SGH Chairman
2025 Annual General Meeting Terry Davis, SGH Chairman 13th November 2025
Slide 13: SGH Overview – Who We Are
SGH Overview – Who We Are Industrials and Energy Focus SGH Ltd (ASX:SGH) Mining Infrastructure Transitional Production and Construction Energy • SGH is a leading Australian diversified operating business, focused on Industrial Services and Energy • Average 1,006/204mtpa • $1.6t 5-year infrastructure
Slide 14: SGH – Board of Directors & 2025 Re-Elections
SGH – Board of Directors & 2025 Re-Elections Expertise, Continuity, & Accountability for Strategy Delivery Z Z Z Z Terry Davis Ryan Stokes AO Rachel Argaman OAM Annabelle Chaplain AM SGH Chair SGH MD&CEO Non-Executive Director Chair ARC Z Z Z Z Z Kate Farrar Mark Johnson Chris Mackay David McEvoy Wa
Slide 15: SGH – Value Creation & Governance
SGH – Value Creation & Governance Disciplined capital allocation driving returns SGH and Predecessor Dividend History ($/share) Ambition to deliver stable and growing dividends over time • 10x market capitalisation expansion since 2010, ~4x higher 0.7 SNL SGH 0.6 than ASX100 0.5 • 30+ years of stabl
Slide 16: 2025 Annual General Meeting – Ryan Stokes, MD&CEO
2025 Annual General Meeting Ryan Stokes, MD&CEO 13th November 2025
Slide 17: People – Safety & Sustainability
People – Safety & Sustainability Safety SGH Operational Safety Performance • Operational safety improvements continue, 38% Rolling 12m LTIFR1 Rolling 12m TRIFR2 and 31% reduction in LTIFR and TRIFR, respectively June 2025 June 2024 June 2025 June 2024 • Following incidents, strengthened consequence
Slide 18: People – Performance
People – Performance People SGH Industrials Headcount* • 11,000 employees in wholly owned businesses; ~14,000 across wider SGH • Performance culture grounded in our values: Respect, Owner’s Mindset, Courage, Agility • Employee share plan participation 18% SGH Way driving performance culture • Clear
Slide 19: Operations – The SGH Way Operating Model
Operations – The SGH Way Operating Model The SGH Way • SGH’s disciplined and scalable operating model, guiding how we create long-term value and deliver TSR outperformance • Framework aligning people, operations, assets, and financials to unlock value • Consistent system for scaling best practice ac
Slide 20: Operations – 4C Drivers & Flywheel
Operations – 4C Drivers & Flywheel SGH Way Supported by 4C Drivers • Cadence: Timely performance oversight and governance SGH Flywheel of Success • Capital: Disciplined framework targeting highest risk-adjusted returns with consistent criteria • Culture: Builds accountability and owner’s mindset at
Slide 21: Operations – Market Orientation & Dynamics
Operations – Market Orientation & Dynamics SGH market orientation strategy Total Building Work by Sector ($m) Source: Oxford Economics • Incremental capital towards sectors with long-duration 120,000 demand thematics, supporting through-the-cycle returns 100,000 Forecast • Infrastructure and constru
Slide 22: Assets – WesTrac
Assets – WesTrac Leveraging assets to drive operational excellence Caterpillar and WesTrac Relationship • Cat 100-year milestone in 2025 reinforces customer confidence and enduring demand for its product • Installed base supports recurring service revenue • Responding to customer efficiency prioriti
Slide 23: Assets – Boral
Assets – Boral Leveraging assets to drive operational excellence Boral EBIT Margins 14% • Integrated network of quarries, concrete and asphalt plants 12% Boral EBIT Margin ex Property Boral Property EBIT Margin provides scale and advantaged market position 10% • Price traction supported by different
Slide 24: Assets – Coates
Assets – Coates Leveraging assets to drive operational excellence Time Utilisation (%) and Fleet Size ($m) • $1.85bn OC fleet and national branch footprint 2,000 62% underpin market-leading position 1,600 60% 58% • Focus on FY26 on lifting both time and financial 1,200 56% utilisation, key drivers o
Slide 25: Assets – Energy
Assets - Energy Beach Energy (SGH 30%) • Strategic assets and infrastructure integrated into east and west coast gas and global LNG markets • Near-term outlook supported by strong customer nominations, LNG swaps and Waitsia SGH Energy • Crux (15.5%) project development advancing, substructure instal
Slide 26: Assets – Media
Assets - Media Seven West Media (SGH 40%) • Total TV market leader with revenue share of 41.5%, SWM and SCA Proposed Merger a record for a non-Olympic broadcaster • 7plus (digital) audiences growing across live and VOD, strong sport performance driving audience acquisition SWM and SCA Merger • Schem
Slide 27: Assets – Property
Assets – Property Boral property strategy SGH/Boral Property Portfolio • Pivot to long-term value creation, aligned with the SGH Way • Surplus land assessed for best use, contributed as equity into JVs to unlock value with limited capital outlay • Portfolio includes 20+ sites totaling ~4,500 hectare
Slide 28: Assets – Ravenhall (Deer Park)
Assets – Ravenhall (Deer Park) Ravenhall (Deer Park) opportunity Ravenhall Logistics Precinct • 450ha located strategically on the western fringe of Melbourne • Proximity to city, major road infrastructure, current and future rail corridors, enable potential intermodal site • Scale supports staged d
Slide 29: Finance – Value Accretive M&A and Growth
Finance – Value Accretive M&A and Growth Strong track record of value accretive M&A SGH EBIT Growth Composition 1800 • 13% organic, 20% total CAGR over 10 years 1600 EBIT CAGR 10-year SGH 20% ASX Industrials 5% 1400 • Remain disciplined and committed to previously 1200 articulated investment sectors
Slide 30: Finance – FY26 Focus & Guidance
Finance – FY26 Focus & Guidance FY26 key focus areas • Operating cadence: Driving accountability and alignment to support consistent execution across the portfolio • Sales execution: Disciplined sales execution and enhanced service offerings to deliver stronger customer value and outcomes • Operatin
Slide 31: Disclaimer
Disclaimer Basis of preparation of slides Included in this presentation is data prepared by the management of SGH Ltd (“SGH”) and other associated entities and investments. This data is included for information purposes only and has not been subject to the same level of review by the company as the