Business
Ampol : 2024 Taxes Paid Report
Ampol : 2024 Taxes Paid
About this update from Ampol Limited
AMPOL LIMITE D ACN OO4 2O1 3O7 ALEXANDRIA NSW 2015 29-33 BOURKE ROAD A statement from the Group Chief Financial Officer On behalf of Ampol Limited (ACN OO4 2O1 3O7), I am pleased to deliver our Taxes Paid Report for the year ended 31 December 2O24 (FY2O24). Ampol understands the importance of tax transparency and its essential role in building community confidence in our taxation systems. A fair and equitable tax system underpins our government and the sustainable delivery of needed infrastructure and services. Ampol has been reporting its taxes voluntarily every year since 2013 and we report our tax contribution in line with the Australian Government's Tax Transparency Code. During FY2O24, Ampol contributed over A$9.6 billion in taxes, comprising A$7.5 billion in taxes paid (including fuel excise) and A$2.1 billion in taxes collected on behaIf of others (primarily GST and withholding of employee income tax). Almost all this tax was paid in Australia and New Zealand. Ampol's decrease in total tax contribution from FY2O23 (A$O.4 billion) is primarily due toa reduction in corporate income tax paid because of lower company profits anda reduction in net GST paid because of lower fuel prices, volumes and the timing of innports. This reduction was partially offset by an increase in fuel taxes, due to increases in excise rates in Australia. In this report you will find details of our approach to tax risk management,a reconciliation of accounting profit to tax expense and tax paid or payable as well as details of our effective tax rate and our related party dealings. We disclose all taxes paid and collected by Ampol and its controlled entities, both in Australia and overseas. We hope you find this report useful. Greg Barnes Group Chief Financial Officer August2O25 Taxes Paid Report How we report The Taxes Paid Report should be read together with our 2024 Annual Report which includes Ampol's Strategic Report, Sustainability Performance and Financial Report. Together, these reports address the Australian Government's Tax Transparency Code for large businesses. Ampol is Australia's leading transport energy distributor and retailer Ampol is an independent Australian company and, through its acquisition of Z Energy in New Zealand, one of the largest Trans-Tasman integrated fuel suppliers. We supply Australia's largest branded petrol and convenience network as well as refining, importing and marketing fuels and lubricants. As the energy transition progresses, we are building out our electric vehicle (EV) on-the-go public charging networks in Australia and New Zealand. We have a deep history spanning over 120 years and are listed on the Australion Securities Exchange (ASX). Our ability to service our broad customer base is supported by our 34 terminals, 6 major pipelines, 5O wet depots, more than 1,7OO Ampol branded sites (including 628 company-controlled retail sites) and 1 refinery located in Lytton, Queensland. In New Zealand we have nine terminals and 5O2 sites (includes Z Energy and Caltex branded sites). Our network is supported by over 9,6OO people across Australia, New Zealand, Singapore and the United States of America (USA). In recent years, we have leveraged our Australian business to extend our supply chain Ond operations into internotiona I markets. This includes our Trading Ond Shipping business that operates out of Singapore and Houston in the USA, and our international storage positions across the Asia Pacific region and North America. Ampol also ownsa 20% equity interest in Seaoil,a leading independent fuel company in the Philippines. As at 30 June 2025 AM@OL 25% market shore of transport fuels in Australia 4O% market shore of road transport fuels in New Zealand 180 AmpChorge boys in Australia 184 public boys in New Zealand 9,DOO+ Employees across Australia, New Zealand, Singapore and the USA 27.3 billion litres of fuel sold (FY24) Infrastructure 23 terminals across Australia and New Zealand, anda Refinery in Brisbane Australia 2,200+ retail sites across Australia and New Zealand About Ampol Our Strategy In 2O2O, we released the Group strategy based around three pillars which are underpinned by our market-leading position in transport fuels, strategic assets, customer relationships, iconic brands and supply chain expertise. Each year we report our progress against our strategic objectives and key priorities as part of our Half Year and Full Year Results Presentations. Purpose Strotegy ENHANCE the core business EXPAND frorrl rejuvenated due/s platform EVOLVE energy ofler for our customers MAXIMISE LYTTON VALUE PRODUCTIVITY PROGRAM GROW AUSTRALIAN CONVENIENCE RETAIL OFFER ACCELE RATE SEGM ENTED RETAIL OFFER IN NEW ZEALAND BUILD FOUNDATIONS FOR ENERGY TRANSITION Extract from 2025 Half Year Results Presentot/on Progressed the Ultra Low Sulfur Fuels {ULSF} project to deliver 1Oppm gasoline Improved Lytton reliability performance Focus on Fuel Security Services Payment Government re-engagement Achieved -$30 million in savings during IH 2O25 and on track to deliver the $5Om (nominal) cost reduction target for 2O25. 1H 2O25 savings include: - Demurrage cost reductions Enhanced productivity of prioritised maintenance and repoir activities at Lytton refinery La bour and energy savings in Convenience Retail NSW M4 highway sites at Eastern Creek approaching completion; Eastbound site opened in July Expanded product innovation trials including pilot of rejuvenated food service offer for hot kitchens Explored opportunities to further segment the retail offer and accelerate earnings; 34 U-GO sites in market as at 30 June 2025 New Metcosh wholesale agreement successfully transitioned in the half Launched digita Ily based Z loyalty program in IH 2O25 Extended the retail segmentation strategy, including rollout of 1S U-GO conversions Focused on earnings growth ina difficult eco nomic environment Simplified the Energy Solutions business througha commitment to focus on EV charging and renewable fueIs 1 . Exited the retail electricity businesses in Australia and New Zealand Progressed the rollout of the EV public charging networks. As at 30 June 2025, there were 180 bays across 69 sites in Australia, and 184 bays across 56 sites in New Zealand Continued to explore the feasibility of establishing an integrated renewable fuels' industry in Australia with IFM and GrainCorp. Progressed pre-FEED for the potential Brisbane Renewable Fuels project Tax Risk Management Our framework structure AMPOL Corporate governance The Board of Directors of Ampol is committed toa high standard of corporate governance. An overview of Ampol's corporate governance is set out in our 2024 Corporate Governonce Stotement Ampol Tax Policy As part of the Ampol Risk Management Framework, Ampol has an established, strong, internal tax control framework to identify, manage and report tax risks. The Ampol Tax Policy describes Ampol's principled approach to the management of its tax affairs. Ampol has standards and procedures in place that define the performance requirements to successfully implement the Ampol Tax Policy. The objectives of the Ampol Tax Policy are aligned with the broader organisational goals and values of Ampol. Approach to engagements with tax authorities lnlinevMththeguiding principessetbytheAmpolTox Policy, Ampol strives toward maintaining a co-operative Ond open relationship with OII tOx Outhorities. Ampol hOs regular engagement with the Australian Taxation Office (ATO) through its participation in the pre-lodgement compliance review program and other products and channels available (e.g. private and class rulings). In addition, Ampol participates in industry forums. Ampol's tax affairs are routinely reviewed by the ATO, New Zealand's Inland Revenue Department and the Internal Revenue Authority of Singapore on an ongoing basis.