Appendix 4E Full Year Financial Report 2024

Ventia Services Group Limited
ABN 53 603 253 541

Level 8, 80 Pacific Highway
North Sydney NSW 2060
AUSTRALIA

ventia.com
ASX and NZX Release


19 February 2025

Appendix 4E and 2024 Annual Report
Ventia Services Group Limited (ASX:VNT) today reports its results for the financial year ended 31
December 2024.
Attached is the Appendix 4E (Results for announcement to the market) and Annual Report for the
financial year ended 31 December 2024.
The following associated documents will be provided separately for lodgement:

• Notification of Dividend (Appendix 3A.1);
• Media Release; and
• Investor Presentation.

This announcement has been authorised for release by the Ventia Board.

-Ends-

For further information, please contact:

Investors Media
Chantal Travers
Jocelyn Harvey
General Manager Investor Relations
General Manager Marketing and Communications
chantal.travers@ventia.com
jocelyn.harvey@ventia.com
+61 428 822 375 +61 439 132 096

About Ventia
Ventia is a leading essential infrastructure services provider in Australia and New Zealand, proudly providing the services that
keeps infrastructure working for our communities. Ventia has access to a combined workforce of more than 35,000 people,
operating in over 400 sites across Australia and New Zealand. With a strategy to redefine service excellence by being client-
focused, innovative and sustainable, Ventia operates across a broad range of industry segments, including defence, social
infrastructure, water, electricity and gas, resources, telecommunications and transport.

Year ended 31
December 2024
Year ended 31
December 2023
Change Change
$'m$'m$'mPercentage
Total revenue6,105.5 5,676.4 429.1 7.6%
Profit from ordinary activities after income tax attributable to members of the parent entity220.2 189.8 30.4 16.0%
Profit after tax attributable to members of the parent entity220.2 189.8 30.4 16.0%
Dividends - Year ended 31 December 2024
Amount per
security
Final dividend 10.63 cents8.50 cents80%
Interim dividend9.35 cents7.48 cents80%
Key final dividend datesDate
Ex-dividend date27 February 2025
Record date for determining entitlement to the dividend28 February 2025
Date for payment of dividend7 April 2025
31 December
2024
31 December
2023
Net tangible assets backing per ordinary share(0.59)$ (0.68)$
The remainder of the information requiring disclosure to comply with ASX listing rule 4.3A is contained in the Operating and Financial Review section of the 2024 Directors’ Report and the
audited 2024 Financial Report, within the Ventia Services Group Limited Annual Report 2024, lodged with this Appendix 4E.
APPENDIX 4E - Annual Report for the Financial Year Ended 31 December 2024
Results for Announcement to the Market
VENTIA SERVICES GROUP LIMITED
ABN 53 603 253 541
Franked amount per security

2024
Redefining Service Excellence
Annual
Report

About this report
This Annual Report (‘report’) is a summar y of Ventia Ser vices Group
Limited’s and its controlled entities’ (together, the Group) operations,
performance and financial position for the year ended 31 December
2024. In this report unless otherwise stated, references to ‘Ventia’,
‘Group’, ‘us’, ‘we’ and ‘our’ refer to Ventia Ser vices Group Limited and
its controlled entities. References to ‘year’, ‘financial year’, ‘2024’ or
‘FY24’ all refer to the year ended 31 December 2024. All dollar figures
are expressed in Australian dollars unless otherwise stated.
Ventia recognises that transparent reporting is an essential
responsibility for our stakeholders. Our report has been prepared
with reference to the Integrated Reporting (IR) Framework
to communicate how our strategy, operational and financial
performance, and approach to environmental, social and governance
aspects aims to create value for stakeholders.
All sustainability-related content within this report has been prepared
with reference to the Global Reporting Initiative (GRI) Standards.
A GRI index is available in our 2024 Sustainability Databook which is
available on our website www.ventia.com/databook-24
Limited assurance for selected environmental and social metrics
within the annual reporting has been provided by Deloitte Touche
Tohmatsu (Deloitte). Ventia’s reporting criteria are outlined in the
Environmental and Social basis of preparation for the year ended
31 December 2024, which can be found on our website at
www.ventia.com/Reportingcriteria-24
Information prepared by third parties
Certain information contained in this report is based on information
prepared by third parties. Ventia does not make any representations
or warranty that this third party material is accurate, complete or up
to date.
Forward looking statements
This report contains forward-looking statements in relation to
the Group, including with respect to the Group’s business and
operations, financial position, and strategies. This report also
includes forward-looking statements regarding climate change and
other sustainability issues for Ventia, including the Group’s resilience
under climate scenarios.
While these forward-looking statements reflect Ventia’s
expectations as at the date of this report, they are not guarantees
or predictions of future performance or statements of fact. These
statements involve known and unknown risks and uncertainties,
which are beyond the control of Ventia. Many factors could cause
outcomes to differ, possibly materially, from those expressed in the
forward-looking statements.
We are Ventia
People are at
the heart of
our success.
Cover: Drone pilot operating a drone, Brisbane, Qld
Pictured: Young men from Wesley College’s Moorditj Mob Program perform
a dance ceremony at the Western Power contract launch in WA

Contents
Overview 2
Our strategic approach 14
Thriving people 26
Resilient and healthy environment 36
Local and diverse supply chain 48
Stronger customers and flourishing communities 52
Sustainable financial growth –
Operating and financial review 60
Governance 78
Directors' report 86
Remuneration report 96
Financial report 120
Other information 174
These factors include general economic conditions; changes in
government and policy; actions of regulatory bodies and other
governmental authorities, such as changes in taxation or regulation;
technological changes; the extent, nature and location of physical
impacts of climate change; and geopolitical developments. Ventia
makes no representation, assurance or guarantee as to the accuracy,
completeness or likelihood of fulfilment of any forward-looking
statement, any outcomes expressed or implied in any forward-
looking statement or any assumptions on which a forward-looking
statement is based.
In addition, there are also limitations with respect to
scenario analysis, including any climate-related scenario analysis,
and it is difficult to predict which, if any, of the scenarios might
eventuate. Scenario analysis is not an indication of definitive or
probable outcomes and relies on assumptions that may or may not
prove to be correct or eventuate, and scenarios may be impacted by
additional factors to the assumptions disclosed.
Except as required by applicable laws or regulations, the Group
does not undertake to publicly update, review or revise any
forward-looking statements, including scenario analysis or to advise
of any change in assumptions on which any such statement is based.
Past performance cannot be relied on as a guide for future
performance. Readers are cautioned not to place undue reliance on
forward-looking statements.
Non-IFRS information
This report contains International Financial Reporting Standards
(IFRS) and non-IFRS financial information. IFRS financial information
is financial information that is presented in accordance with all
relevant accounting standards. Non-IFRS financial information is
financial information that is presented other than in accordance with
relevant accounting standards and may not be directly comparable
with other companies’ information.
Any non-IFRS financial information included in this report has
been labelled to differentiate it from statutory or IFRS financial
information. Non-IFRS measures are used by management to assess
and monitor business performance at the Group and segment level
and should be considered in addition to, and not as a substitute for,
IFRS information. Operating metrics that are prepared on a non-IFRS
basis have been included in the segment commentary to support
an understanding of comparable business performance. Non-IFRS
information is not subject to audit or review.
Mihi
He tautoko te ahurea i ngā kawa me ngā tikanga o ngā Iwi
whānui o Aotearoa, me ka kawa me ka tikaka o ka Iwi whānui
o Te Waipounamu. We recognise and celebrate the culture
of manawhenua in Aotearoa and Te Waipounamu where our
teams respect local Iwi and communities across the country.
Acknowledgement of Country
Ventia would like to respectfully acknowledge the Traditional
Custodians of country throughout Australia and their
connection to land, sea and community. We pay our respect
to them, their cultures and to their Elders past and present.
View
our annual
report online
1
VENTIA ANNUAL REPORT 2024 |

Pictured: Ventia provides asset management and maintenance services including boat ramp maintenance for Port of Brisbane, Qld
2
| OVERVIEW

Auckland
Wellington
Darwin
Perth
Sydney
Adelaide
Hobart
Melbourne
Brisbane
Qld
NT
SA
NSW
ACT
Vic
Tas
WA
Canberra
About Ventia
Ventia is a leading essential services provider that makes
infrastructure work for communities across Australia and
New Zealand. We are an Australian Securities Exchange
(ASX) top 200 company, with a secondary listing on the
New Zealand Exchange (NZX).
We specialise across four diverse sectors providing the long-term operation, maintenance and management of critical
public and privates assets and infrastructure, including defence and social infrastructure, infrastructure services,
telecommunications and transport.
We are proud of our heritage and track record in delivering tailored outcomes for our customers and the communities
in which we operate.
Today Ventia has a large and diverse workforce of more than 35,000 people and operates in over 400 sites across
Australia and New Zealand, enabling us to deliver an extensive range of services for our customers and communities.
Key
V entia work sites across
Australia and New Zealand
35,000
400+
40%+
Workforce of employees
and subcontractors
Project sites throughout
Australia and New Zealand
of our people work in
regional and rural areas
3
VENTIA ANNUAL REPORT 2024 |

Pictured: Rig delivering well services in Surat Basin, Qld
FY24 financial highlights
1. Net profit after tax excluding the after-tax impact of amortisation of acquired intangibles assets.
2. Earnings before interest, tax, depreciation and amortisation.
We achieved strong financial results in FY24,
demonstrating our commitment to delivering growing
and consistent performance for our stakeholders.
Total revenue
$6,105.5m
 Increase of 7.6% on FY23
NPATA
1
$ 2 27. 9 m
 Increase of 12.8% on FY23
EBITDA
2
$499.3m
 Increase 7.3% on FY23
EBITDA margin
8.2%
In line with FY23
Operating cash flow conversion
91.4%
 Increase of 2.6ppt on FY23
Work in hand
$19.4b
 Increase of 6.7% on FY23
FY24 dividend
19.98 ¢
75% payout of NPATA
4
| OVERVIEW

5
VENTIA ANNUAL REPORT 2024 |

FY24 non-financial highlights
Pictured: Photo entry of NSW landscape by member of our Telecommunications team
Customer focusedInnovationSustainable Safety and people
Renewal rate
91.9%
as at 31 December 2024
Launch of new
AI trials
in FY24
Scope 1 and 2 emissions reduction
1
21.3%
since 2021
TRIFR
3
3.31
Increase of 0.6% on FY23
Revenue
$3.9b
from renewed contracts in FY24
Generative AI queries
1600
processed in FY24
Total electric and hybrid vehicles
427
in our light vehicle fleet as at 31 December 2024
SIFR
4

0.13
Increase of 18% on FY23
Cross-sell revenue
$115.8m
increase of 24% on FY23
VenSights annual views
1
300k+
in FY24
Social value contribution
$3.9b
in FY24
2

Participation by Women in
Executive Leadership Team (ELT)
50%
Increase from 33% in FY23
1. VenSights is Ventia's central enterprise-wide digital platform which delivers performance data and insights across our organisation.
6
| OVERVIEW

Customer focusedInnovationSustainable Safety and people
Renewal rate
91.9%
as at 31 December 2024
Launch of new
AI trials
in FY24
Scope 1 and 2 emissions reduction
1
21.3%
since 2021
TRIFR
3
3.31
Increase of 0.6% on FY23
Revenue
$3.9b
from renewed contracts in FY24
Generative AI queries
1600
processed in FY24
Total electric and hybrid vehicles
427
in our light vehicle fleet as at 31 December 2024
SIFR
4

0.13
Increase of 18% on FY23
Cross-sell revenue
$115.8m
increase of 24% on FY23
VenSights annual views
1
300k+
in FY24
Social value contribution
$3.9b
in FY24
2

Participation by Women in
Executive Leadership Team (ELT)
50%
Increase from 33% in FY23
Awards and Recognition
WINNER
2024 Base
Services
Contractor
of the Year
Base Services
Contractor Awards
Security and Estate
Group (Australian
Department of
Defence)
RECOGNISED
Inclusive
Employer
2024-2025
DCA Inclusive
Employer Index
Diversity Council
of Australia
THIRD
Best Places to
Work – Property,
Construction
& Transport
category
2024 AFR BOSS Best
Places to Work awards
Australian Financial
Review
1. Progress on all emissions targets are disclosed in the Resilient and healthy environment section pages 40-41, including progress on Scope 3 which increased in 2024.
2. Ventia calculates social value using the TOMs (Themes, Outcomes and Measures) framework using spend and employment data. Social value contribution,
as calculated in Ventia’s TOMs Pilot, quantifies economic and community benefits using Local Employment Value (impact of hiring locally) and Local Spend Value.
3. Total Recordable Injury Frequency Rate is calculated as number of recordable injuries divided by total hours worked (inclusive of subcontractors)
multiplied by 1,000,000 in a 12-month period.
4. Serious Injury Frequency Rate is calculated as the number of serious injuries divided by total hours worked (inclusive of subcontractors)
multiplied by 1,000,000 in a 12-month period.
7
VENTIA ANNUAL REPORT 2024 |

How we work
Our sectors
Defence and Social
Infrastructure
Infrastructure
Services
Expert
capabilities
Our Defence and Social Infrastructure business
is the number one provider of integrated
facilities management in Australia and
New Zealand and we are a strategic partner
to the Australian Defence Force.
Our capabilities include providing
maintenance and support services to public
and private customers across defence, social
infrastructure (education, health and state
government), housing and community (justice
and social housing), local government and
critical infrastructure.
Our Infrastructure Services business provides
comprehensive and multidisciplinary maintenance
and improvement solutions to a range of owners
and operators of critical infrastructure.
Our capabilities span across operations and
maintenance of utilities (energy networks,
renewable assets and water), resources and
industrial assets (mining and manufacturing),
and resources development, as well as complex
and large-scale environmental remediation and
rehabilitation services.
Financial
performance
Revenue
$2.6b
EBITDA
$180.6m
EBITDA margin
7. 0 %
Revenue
$1.3b
EBITDA
$109.9m
EBITDA margin
8.3%
Key project
wins in 2024
RENEWED CONTRACT
Homes NSW
Responsive and programmed
maintenance in New South Wales
NEW CONTRACT
Australian Defence Force
National Firefighting Services contract
for Defence Base Services
CONTRACT EXTENSION
NSW Public Works
Whole of Government (NSW Schools)
NEW CONTRACT
Western Power
Transmission and distribution maintenance
services panel contract in Western Australia
NEW CONTRACT
Seqwater
Operations and maintenance collaborative
asset services across South-East Queensland
NEW CONTRACT
Lightsource bp
Kowhai Park Solar Farm grid connections
Pictured:
Telecommunications
monopole, Brisbane
(Qld). Ventia's
Telecommunication
business provides
end-to-end services
for Australia and
New Zealand's
largest fibre optic,
mobile and critical
telecommunications
networks and
infrastructure.
8
| OVERVIEW

TelecommunicationsTransport
Our Telecommunications business is the largest
telecommunications infrastructure services
provider in Australia and New Zealand. We provide
end-to-end service capabilities spanning design,
supply, construction, installation, commissioning
and maintenance of the region’s largest fibre optic,
mobile and critical telecommunications networks
and infrastructure.
Our capabilities include civil construction,
energy solutions, high frequency and wireless
networks, operations and maintenance, project
management, engineering and design, and
building management systems and configuration.
Our Transport business provides comprehensive
asset management services to owners of transport
infrastructure, encompassing motorways and
tunnels, road networks, rail, ports, airports, and
public transport systems across Australia and
New Zealand.
Our capabilities include operations, maintenance,
and technology integration across the entire
asset lifecycle. We are the leader in incident
response across Australia and New Zealand and
our expertise extends to minor capital works,
temporary traffic management, and disaster
response and recovery.
Revenue
$1.6b
EBITDA
$199.6m
EBITDA margin
12.7%
Revenue
$632.4m
EBITDA
$46.3m
EBITDA margin
7. 3 %
NEW CONTRACT
Telstra
Strategic Field Maintenance, Design and
Construction Contract
NEW CONTRACT
NBN Co
On-Demand Business Deployment
and New Development Modules
NEW CONTRACT
Chorus
Fibre Frontier program
NEW CONTRACT
Transurban Group
CityLink Master Works Deed
NEW CONTRACT
South Australian Department of
Infrastructure and Transport (DIT)
River Torrens to Darlington Maintenance and
Incident Response (T2D)
NEW CONTRACT
Port of Brisbane Pty Ltd
Road Corridor Maintenance Services
9
VENTIA ANNUAL REPORT 2024 |

10
| OVERVIEW

Message from
the Chairman and
Chief Executive Officer
The breadth of favourable macroeconomic trends continued to support the growth
of our business in 2024. Ventia’s end-to-end capabilities, along with our extensive
national network in Australia and New Zealand, positions us well to capitalise on
the opportunities ahead.
Through implementing our corporate strategy to Redefine Service Excellence
we have gained further momentum supported by our three strategic
pillars – Customer Focus, Innovation and Sustainability. These have guided us
to deliver long-term value for our customers, communities, and shareholders.
At its heart, Ventia is a people business with a workforce of over 35,000 employees
and subcontractors. The collective efforts of our workforce have enabled us
to achieve a 91.9% renewal rate and grow our business through the award and
mobilisation of new and existing contracts. Several of these include a five-year
contract with Homes NSW, a five-year strategic partnership with Telstra and a
six-year firefighting contract with the Australian Defence Force.
We have consistently achieved sustainable financial performance, delivering
increased earnings and cash flow, and stable margins in line with our forecasts.
In 2024, our statutory revenue increased by 7.6% and our EBITDA of $499 million
increased by 7.3% compared to FY23. Our margin remained stable at 8.2%.
Importantly for shareholders, NPATA of $228 million increased by 12.8% due to strong
demand for our services and because of the scale benefits of our business model
and efficiencies. Pleasingly, this NPATA performance is at the top of the upgraded
guidance range for 2024.
Directors declared a final dividend of 10.63 cents per share, bringing the total
dividend for the year to 19.98 cents per share, a continuation of our 75% target
payout ratio and representing growth of 12.8% compared to last year.
Our success is underpinned by our commitment to the fundamental principles that
support our business: the health, safety and wellbeing of our people, our governance
framework and our dedication to implementing our strategy.
Ventia is a leading essential infrastructure
services provider across Australia
and New Zealand. We specialise in
the operation, maintenance and
management of critical public and
private assets and infrastructure
including defence and social
infrastructure, infrastructure ser vices,
telecommunications, and transport.
Pictured:
David Moffatt,
Chairman (left)
Dean Banks, Managing
Director and Group
CEO (right)
11
VENTIA ANNUAL REPORT 2024 |

In December 2024, Ventia received notification that the
Australian Competition Consumer Commission (ACCC) will
start civil proceedings in the Federal Court. Based on the
information available to date, we do not believe there has been
any misconduct by Ventia or the two named employees. Ventia
intends to defend these allegations.
Ventia is committed to ethical business practices and seeks
to uphold the highest standards of governance and risk
management, and we continue to focus on delivering high-
quality services to all our customers.
Health, safety and wellbeing of our workforce
The safety of our workforce remains our highest priority and
is our licence to operate.
At our AGM in May 2024, we acknowledged the passing of a
valued colleague in New Zealand. While the regulatory review
found no systemic risks to Ventia’s procedures and approach
to safety, like all tragic incidents, this caused deep reflection
and improved awareness within our business.
We have concentrated our efforts on communicating
safety ownership across our organisation and improving
accountability at all levels including reviewing our leadership
and governance, ensuring our strong safety culture encourages
anyone to speak up, and more regular reviews of risk protocols
and reporting.
In 2024, we formally launched our new safety measure
called the ‘Elevate Index’. This Index supports our internally
developed Elevate Safety Leadership Excellence program,
which is benchmarked against global safety practices and is
designed to deliver improved safety performance and enhance
Ventia’s safety culture through leadership behaviours. The new
Index comprises of eight key measures, equally balanced with
lead and lag indicators that provide a holistic measure of our
safety performance and cultural maturity.
People are at the heart of our success
At Ventia, we want our people to thrive. To achieve this, we are
committed to creating a diverse, engaged, capable and high
performing workforce that operates in a safe, fair, respectful
and inclusive environment.
Labour markets over the last 12 months have eased across
Australia and New Zealand, with the time to fill roles declining
and the number of applicants for each role increasing,
however competition for the best people remains challenging.
We aim to retain employees by providing in-house and
external training, career mobility, succession opportunities
and mentorship.
We are pleased to again be recognised in 2024-2025 as a
Diversity Council of Australia (DCA) Inclusive Employer,
which is one of the highest accolades in Australia to recognise
inclusive workplaces. As an essential services provider across
many communities, it is important that our workforce mirrors
the diverse communities we serve.
In 2024, we further embedded our three-year Reconciliation
Action Plan which sets out our targets to provide sustainable
employment for Aboriginal and Torres Strait Islander people.
Our Aboriginal and Torres Strait Islander employment rate
reached 3% and we will continue our efforts to improve this
rate in 2025.
We also launched our Women’s Participation Action Plan
which includes actions to help us collectively work towards
our female participation targets. In 2024, we welcomed two
new female executives to our Executive Leadership Team,
increasing our female participation from 33% to 50%, and our
Women in Senior Management increased from 26.6% to 30.8%.
During the year we trained over 500 leaders across our
business to help advance their leadership skills and drive
organisational effectiveness and operating success.
Ventia Academy, our central learning and development hub,
supported 695 employees to achieve nationally recognised
Certificate II – IV Diploma qualifications and we also delivered
36 specialised compliance programs to help bolster our
risk management practices and support our employees’
awareness of our compliance obligations.
Our strategy to Redefine Service Excellence
Ventia’s three strategic pillars, Customer focus, Innovation
and Sustainability guide our decision-making across the Group
and are integral to the delivery of superior value for customers,
shareholders and employees over the long term.
Ventia was awarded the prestigious Defence Base Contractor
of the Year in 2024 by the Department of Defence which
demonstrates our commitment to customer focus and
recognises our true team-of-teams partnership, our service
delivery and customer-centric approach with Defence.
We conducted a customer research program in 2024 to listen
to our customers. We received more than 90 survey responses
across 60 of our core customers to understand their first-hand
perspectives on doing business with Ventia.
The feedback indicated that many of our customers see
us as a trusted and reliable delivery partner. In 2025 we will
be introducing an enterprise-wide program that will enable
us to collect and analyse customer data and further embed
the voice of the customer across our organisation.
Our pathway to a more sustainable future
Sustainability is firmly embedded across our business.
As a leading essential services provider in Australia and
New Zealand, we have an important responsibility to create
a resilient and healthy environment.
In 2024, our Science Based Targets were validated by the
Science Based Targets initiative (SBTi) which outline our
pathway to net zero across all our emission scopes. The next
step is to improve and build on our climate transition plan
in 2025.
12
| OVERVIEW

1. Oxford Economics Australia (2024). Refers to the financial years ended 30 June.
As we work towards our targets, we are pleased to confirm
an 11.4% absolute reduction in market-based Scope 1 and 2
combined emissions from 2023. This reduction was supported
by meeting our electricity needs from renewable energy
sources, increasing solar generation in our workplaces and
sourcing more GreenPower in our offices and depots.
We also increased our hybrid and electric vehicles to 427
in 2024, resulting in 11.1% of our light vehicle fleet now
being either hybrid or electric. The largest contributor
to our footprint is from our Scope 3 emissions from the
goods and services we procure, and we are working closely
with our supply chain to pursue opportunities to reduce
these emissions.
We are committed to understanding and measuring the
social impact we are creating for the communities we
serve. Ventia is a leading member of the National Social
Value Taskforce in Australia and New Zealand which has
been instrumental in helping us to share and measure
our social impact across industries. The taskforce uses a
national framework called TOMS (Themes, Outcomes and
Measures) to measure and report social value to a consistent
and recognised standard. In 2024 Ventia proudly delivered
$3.9 billion in social value to the communities we serve.
Market trends supporting our growth
Overall, Ventia’s total addressable market for Maintenance
Services in FY25 is estimated at $83.4 billion
1
. This market
has displayed resilient and stable growth over time and is
predicted to continue to grow.
Oxford Economics Australia forecasts that our addressable
market will grow at a compound annual growth rate (CAGR)
of more than 6.4%, reaching over $100 billion by FY28.
The Maintenance Services market is supported by
favourable drivers underpinning organic growth of our
business. These include a growing asset base spurred by
publicly funded infrastructure projects and social housing
development, as well as population growth, outsourcing
and the energy transition.
As state and national governments and businesses
seek to meet their renewable targets, Ventia has an
opportunity to operate and maintain energy infrastructure
once it is constructed across a range of renewable assets
including solar, wind, geothermal and hydro-generation.
Traditional energy generation will also provide long term
services revenue.
The huge shift in digital connectivity and digital infrastructure
is also impacting how businesses operate, including Ventia.
This significant market trend is underpinning demand for our
services, particularly in our Telecommunications business.
Outlook
Looking ahead, Ventia is well positioned for 2025 and
beyond through our expert capabilities across our four
diverse sectors.
We have a stringent gated lifecycle process in place that allows
us to carefully control our project portfolio to ensure we are
managing project risk well and we are well positioned to grow
our footprint through existing and adjacent markets.
Our digital journey remains one of Ventia's top priorities.
Our single enterprise platform is our central nervous system.
Through this real-time system, data is collected and provides
valuable performance and operational insights at any time or
place through our digital platform called VenSights. Our goal
is to continue evolving this platform and focus on becoming
a truly data-driven organisation where insights fuel
decision-making and drive continuous improvement.
Over the next five years we are committed to implementing
our digital strategy which is focused on enhancing our Artificial
Intelligence (AI) capabilities, bolstering cybersecurity and
continuing to create a digitally advanced culture.
On behalf of the Ventia Board and Management Team,
we thank our customers for their continued partnership
in our pursuit to be a market leader in the delivery of
essential services.
To our workforce of 35,000, we express our sincere
appreciation for the effort, energy and enthusiasm you
bring to work every day.
Finally, we wish to thank our shareholders for their ongoing
support as we pursue the successful delivery of our strategy
to Redefine Service Excellence.


David Moffatt Dean Banks
Chairman Managing Director
and Group CEO
13
VENTIA ANNUAL REPORT 2024 |

Our strategic
approach
Pictured: Members of our energy networks team, Rocklea, Qld
Sustainable
Customer
focused
Innovative
Redefining
Service
Excellence
Be targeted
Embed voice of the customer
program to improve account plans
and customer segmentation
Secure new clients
Continuous improvement
in bid success rate by
bringing the ‘whole of Ventia’
to new bids and maintaining
strategy alignment
Renew contracts
Success on all major
renewals ($100m+)
Industry leading diversity
and inclusion outcomes
Deliver measurable impact through fairness,
inclusion and respect, and authentic
community and employee engagement
Innovating for our customers
Be known for solving challenges
in new and di€erent ways
Drive productivity
Standardise and
simplify to fully leverage
the benefit and potential
of our single enterprise
wide operating system
to create value
Enhance data and analytics
Engage with AI and emerging
technologies to drive full
transparency and
better informed
decision-making
Target net-zero emissions
Pathway to net zero emissions
defined with visible progress in
implementing emissions reduction
initiatives demonstrated and
emissions reductions achieved
in Scope 1 and 2
Deliver high standards of
corporate governance
Exceed industry and
society’s expectations of our
corporate behaviour
14
| OUR STRATEGIC APPROACH

Our strategy: focus for future growth
Our strategy to Redefine Service Excellence is central to how we create value
for our stakeholders. Our focus on our customers, innovation and sustainability
creates tangible and positive outcomes for our stakeholders. As we look to
the future, our priority remains on our core business. We see opportunities to
evolve our enterprise-wide platform and build further momentum in cross-sell
revenue, supported by industry tailwinds. We will consider ‘close to core’ growth
opportunities where we can leverage Ventia’s existing strengths.
Sustainable
Customer
focused
Innovative
Redefining
Service
Excellence
Be targeted
Embed voice of the customer
program to improve account plans
and customer segmentation
Secure new clients
Continuous improvement
in bid success rate by
bringing the ‘whole of Ventia’
to new bids and maintaining
strategy alignment
Renew contracts
Success on all major
renewals ($100m+)
Industry leading diversity
and inclusion outcomes
Deliver measurable impact through fairness,
inclusion and respect, and authentic
community and employee engagement
Innovating for our customers
Be known for solving challenges
in new and di€erent ways
Drive productivity
Standardise and
simplify to fully leverage
the benefit and potential
of our single enterprise
wide operating system
to create value
Enhance data and analytics
Engage with AI and emerging
technologies to drive full
transparency and
better informed
decision-making
Target net-zero emissions
Pathway to net zero emissions
defined with visible progress in
implementing emissions reduction
initiatives demonstrated and
emissions reductions achieved
in Scope 1 and 2
Deliver high standards of
corporate governance
Exceed industry and
society’s expectations of our
corporate behaviour
15
VENTIA ANNUAL REPORT 2024 |

How we create value
We create value for our
stakeholders as we
pursue our purpose to
make infrastructure work
for communities across
Australia and New Zealand.
Through our operations
and maintenance ser vices,
we are committed
to building stronger
customers and more
resilient and flourishing
communities.
Our strategy is central to transforming inputs into our
business into long-term value for our stakeholders. We are
committed to developing thriving people through providing
a high-performing workplace that operates in a safe,
diverse and inclusive environment.
Ventia’s approach to environmental sustainability
involves managing our impact on the environment
through our operations and services, and impacts to our
business through climate-related risks and opportunities.
This includes monitoring and measuring the waste we
generate, the energy we use and the emissions we create
directly and indirectly throughout our value chain.
We support local economies through developing a local and
diverse supply chain, procuring 99% of our goods and services
from a range of local businesses and communities. We strive
to create stronger clients through our whole-of-Ventia offering
and providing innovative and effective solutions for our clients
and communities.
For shareholders and the investment community, we aim to
deliver sustainable financial growth and deliver investment
returns through dividends and other capital management
initiatives we may undertake. We generate a sustainable cash
flow though our operations and services and reinvest capital
to support the growth and innovation of our business and the
development of our people.
Environmental
capital
The renewable and non-
renewable environmental
resources we use.
Manufactured
capital
Our physical assets,
offices and technology.
Social and
relationship capital
Our relationships and
collaboration with all
stakeholders.
Financial capital
Our financial resources
available for deployment.
Inputs
Human and
intellectual capital
Our employees and
subcontractors, knowledge,
systems and policies.
16
| OUR STRATEGIC APPROACH

Resilient and healthy
environment
Committed to achieving
our science based targets
including reaching net
zero by 2050. Resource
efficiency and climate
resilience.
Stronger
customers and
flourishing
communities
Our whole-of-Ventia
offering and knowledge
provides innovative
and effective solutions
for our clients and
communities.
Local and diverse
supply chain
We create value
through the
development of a local
and diverse supply
chain. We advance
sustainable and ethical
procurement.
Sustainable
financial growth
We aim to deliver
sustainable financial
growth for our
shareholders.
OutputsValue creation
Thriving people
An engaged, capable
and high-performing
workforce that
operates in a safe,
diverse and inclusive
environment.
Sectors
Defence & Social
Infrastructure
Infrastructure
Services
TelecommunicationsTransport
S
e
r
v
i
c
e
s
M
a
i
n
t
e
n
a
n
c
e
O
p
e
r
a
t
i
o
n
s
Sustainable
focused
Innovative
Redefining
Service
Excellence
We create value through the services we provide
17
VENTIA ANNUAL REPORT 2024 |

Long-term relationships
We have many customer relationships,
including some that stretch a decade or
more. Long-term partnerships are built
on trust and consistent performance.
Our ability to achieve results and
meet our customers' goals helps build
confidence in our partnerships and
is evidenced by our continued high
renewal rates.
Scale and national platform
Our national presence across Australia
and New Zealand offers our customers
the advantage of scale without
compromising on localised expertise.
Through delivering large-scale
infrastructure services or providing
targeted solutions, our seamless
delivery across diverse sectors helps
our customers succeed regardless of
the scope of their operations.
Enterprise-wide platform
Our established enterprise-wide
platform drives consistency and
operating efficiencies for the benefit
of our customers, supported by
a commitment to continuous
improvement and innovation. We adapt
quickly to changing needs, applying
fresh thinking to optimise processes
and drive efficiency.
Breadth and depth
of service offering
End-to-end infrastructure services
enables our customers to address a
wide range of needs through a single
trusted partner. From multi-disciplinary
projects to specialised, sector-specific
solutions, our customers can leverage
our expertise and capabilities to enhance
both efficiency and effectiveness across
the board.
Commitment to sustainability
Sustainability is a key pillar of our
operations, supporting our customers
in achieving their environmental, social
and governance goals. Our commitment
to driving positive environmental, social
and economic outcomes, ensures that
our partnerships are centred in shared
values of social responsibility and
sustainable progress.
Strong commitment to
people and safety
People are at the heart of our success.
With a workforce of over 35,000 people,
we are committed to creating an
inclusive, diverse and safe workplace.
Safety is our licence to operate and
our commitment to safety means our
people and customers can operate
with confidence, knowing projects are
managed to the highest safety standards.
Why our customers choose us
Our strategy to Redefine Service Excellence
helps to differentiate Ventia
18
| OUR STRATEGIC APPROACH

Our operating market
Market tailwinds provide growth opportunities
Our addressable market continues to show positive momentum, reflecting the
increasing demand for essential maintenance services across a broad range of
sectors. In FY25 Oxford Economics Australia estimates our addressable market
is A$83.4 billion and is projected to grow to $100.4 billion by FY28, reflecting a
compound annual growth rate (CAGR) of 6.4%.
A key factor in this expansion is the significant public investment in roads, rail,
electricity, and water projects, bolstered by government funding programs.
These developments drive a growing asset base, which in turn opens sustained
opportunities for us across key sectors.
In New South Wales and New Zealand we have actively participated in disaster
relief efforts and recovery from natural disasters such as flooding events.
These support our market potential as they drive immediate and large-scale
rehabilitation projects particularly in transport infrastructure. We are also well-
positioned to capture growth from the rising demand for maintenance in the
electricity and utilities sectors, driven by the transition to renewable energy and
net-zero emissions.
The combination of asset growth, public investment, and an evolving
infrastructure landscape creates a favourable environment for our continued
expansion strengthening our market position.
Outsourced Maintenance
Services addressable market size
Australia and New Zealand ($b)
1
27.1
10.9
36.7
8.7
FY25
83.4
28.4
11.5
39.9
9.2
FY26
88.9
29.5
11.9
43.2
9.9
FY27
94.4
30.9
12.0
47. 2
10.3
FY28
100.4
Defence and Social
Infrastructure
Telecommunications
Infrastructure
Services
Transport
1. Oxford Economics Australia (2024). Refers to
the financial years ended 30 June. Numbers
represent current price (nominal value).
Pictured: Night works at Sydney Harbour Tunnel, NSW | Picture by: Steven Markham
CAGR: 6.4%
19
VENTIA ANNUAL REPORT 2024 |

Market trends
supporting our growth
Population growth
Net overseas migration is driving a surge in population
growth, with Australia’s population expected to reach
28 million by 2026. Heightened population growth over the
short to medium term is expected to almost fully account for
the below-trend growth during the COVID-19 pandemic.
This growth, particularly in urban centres, is leading to higher
density and congestion, placing considerable pressure
on existing infrastructure. As cities expand, there is an
increasing need for new infrastructure projects, particularly
in transport, utilities, and social services, to accommodate
the growing population.
Public and private sector spending on infrastructure is
driving the overall size and growth of Australia’s asset base,
which is likely to result in increased maintenance spending
over the medium to long term.
Large and growing asset base
The size and growth of the infrastructure asset base is
driving the long-term requirement for maintenance services.
According to Oxford Economics Australia, over the past two
decades, the capital stock has steadily grown at an average
of 3.6%, reaching $3.35 trillion in FY23 largely driven by
economic activity and directly via construction.
The last eight years have seen relatively slower asset base growth
with the end of the mining boom in the 2010’s. This, coupled
with increased asset use and the desire to drive assets harder
and longer, results in an increasing need for maintenance and
minor capital works activity, the latter often as ‘temporary’
fixes until major rebuilds are undertaken or new assets built.
Energy transition and climate change
The energy transition is a long-run driver of the maintenance
market. An increased focus on energy stability and security
continues to drive significant investment in the energy
transition, including renewable energy generation and
transmission and distribution work. This shift will impact
both the volume of investment required and the path of
future maintenance activity.
Several large coal plants are expected to retire over the
coming decade, and it is anticipated that renewables will
be the main replacement, which will require significant
upgrades to electricity transmission networks to support
new generation sources.
Outsourcing rates
The outsourcing of maintenance activities remains a stable
trend in the infrastructure market, with outsourcing rates
forecast to average 59% of the total maintenance market
to FY28.
Despite an anticipated increase in the total maintenance
market, proportionate increases across both in-house and
outsourcing maintenance work are forecast to keep the share
of outsourcing consistent over the coming years.
Although there are discussions around governments
potentially shifting towards insourcing, outsourcing continues
to be a key feature in our sectors. Long-term contracts and
a dedicated workforce ensures consistent service delivery,
providing value and reliability.
Pictured: Ventia delivers Transmission & Distribution services at Danseys Pass, South Island, NZ
20
| OUR STRATEGIC APPROACH

Cost escalation and inflation
Inflationary pressures have eased in the past year as
international pressures have subsided. Following a peak in
the headline consumer price index (CPI) of 7% in March 2023,
inflation has cooled to 2.4% in December 2024. This reduction
has been driven by cooling of growth in materials and
commodities costs.
Pressure does, however, remain on growth in labour costs,
which has remained elevated through 2024. This reflects
a continued tight labour market, although one that has
substantially cooled in the past year.
Technology and automation
In a market where labour and capital inputs are limited,
and where demand for output is rising, digital productivity
improvements offer the critical link to minimising capacity
and capability risks, enhancing industry sustainability and
lowering infrastructure costs.
Importantly, digitalisation offers a potential solution
to reduce capacity constraints across the supply chain.
Current constraints are likely to persist, with broad
infrastructure demands increasing across the coming
decade due to robust population growth, investment in
the energy transition, and new projects coming online.
The ability to improve productivity through modernisation
and digitalisation will be critical in meeting this rising demand.
Pictured: A member of our water team performing an
inspection at a wastewater treatment plant, Rocklea, Qld
Pictured: Members of our water team at a
wastewater treatment plant, Rocklea, Qld
21
VENTIA ANNUAL REPORT 2024 |

Digital technologies drive performance
Digital technologies are the backbone of our business,
actively supporting our operations and workforce and
enabling us to manage risk, improve safety and wellbeing
and pursue our innovation strategy.
Strategic focus
Our digital journey remains one of Ventia’s highest priorities.
Having the right platforms in place and fostering a digitally
advanced culture makes us more agile, resilient, competitive
and adaptive in a fast-evolving digital world.
Over the next five years, we are committed to creating a
secure, connected enterprise with a key focus on modernising
our operations to deliver differentiation and value for our
customers. Our priorities are focused on enhancing our
Artificial Intelligence (AI) capabilities, bolstering cybersecurity,
and continuing to evolve into a data-driven organisation.
In 2024, our digital strategy gained momentum as we
continued to rationalise our technology capabilities and
further explore opportunities to incorporate new and
emerging technologies into our business such as AI and
digital twins.
We are investing in the digital skills of our entire workforce
and shifting to leaner and automated processes to simplify
our ways of working for our people and our customers.
Using AI to improve efficiency
Ventia's AI strategy was developed in 2024, and the
Board approved the Responsible AI framework and
associated roadmap, providing a vision to responsibly
deliver Ventia's services in a safe and more sustainable
way, while optimising data-driven insights. As part of
this strategy, we have developed and tested several
Ventia AI tools.
In 2024 we piloted a new AI tool to automate the
processing of documents submitted by our contractors.
As the scale of Ventia has grown, manual review was
creating a bottleneck. Using Generative Artificial
Intelligence (GenAI) we have extended traditional process
automation to identify follow-on work, reduce risk and
ensure compliance with project requirements. In 2025,
this tool will be operationalised delivering cost-savings,
optimising revenue and improving customer service.
Pictured: Ventia Operations Centre, Vic
22
| OUR STRATEGIC APPROACH

WINNER
Team of the Year –
Talent Award
Ventia Digital Services Team
2024 Australian CIO50 Awards
WINNER
Asset Management
Information Management
Award 2024
Recognition of Ventia’s
Metabase Interactive Dashboard
project across our Defence
Base Services contract
Asset Management Council
Excellence Awards
Asset Management Council
Awards and
Recognition
We also co-developed a GenAI tool to streamline our bid
process. This tool will reduce the amount of time it takes
to find and collate significant amounts of content and
information, tailored to customer requirements. This will
enable our bid managers to improve the quality and win
potential of our proposal submissions.
In 2024, our AI-enabled wellbeing pilot saw 90% of the
Digital Services team opt in to a new wellbeing chatbot that
assessed their energy levels and we then instantly designed
a personalised 12-week curriculum to overcome and prevent
burnout. The three-month program achieved a 150% increase
in the number of team members in very good or excellent
health while simultaneously reducing the numbers vulnerable
to, or experiencing burnout by 33%. The next release of the
program will be piloted in FY25.
Ventia has enhanced its VenSights reporting platform
through the integration of Microsoft's Copilot generative
AI technology. This enables automated data summarisation
and intelligent insights across our extensive Power BI
reporting environment, without additional operational costs.
The deployment of this application positions Ventia at the
forefront of AI-driven business intelligence, aiming to deliver
measurable value through accelerated reporting cycles and
enhanced analytical capabilities.
Trial of enhanced rostering software
Our transformation team in our Defence business
commenced trialling a new cloud-based human resource
application in 2024 that simplifies employee rostering,
timesheet management and workplace communication.
There are multiple benefits to standardising rostering
across our business, including removing manual processes,
reducing reliance on paper-based processes and providing
an improved, consolidated view of staffing availability
across multiple sites.
Early results are encouraging with wage leakage, off-cycle
pay runs and overpayments significantly decreasing. We are
currently undertaking a wider company review and working
through how to scale this technology more broadly across
our business.
Investments in cyber security
In July 2023 we experienced our first significant cyber
incident. Since then, Ventia has integrated our learnings
to improve our resilience and better safeguard against
future threats. Investments in independent threat and risk
assessments have formed the foundations of Ventia’s Cyber
Security program which provides quantifiable benchmarks
against industry leading frameworks and drives greater
confidence in our cyber posture across our organisation.
In 2024, we successfully achieved our ISO27001 re-certification
and improved our risk management processes and capabilities
across our organisation. Ventia improved governance of
cyber risk mitigations and company-wide campaigns on
cyber awareness and education, ensuring cyber security
is everyone’s responsibility.
Looking forward, our strategy is to build on our strengths
and drive further confidence in our cyber security capabilities
and establish closer relationships with Australian Government
agencies and industry partners.
Data and outlook
Our core Enterprise Resource Planning (ERP) platform is
our central nervous system. ERP is an integrated system
that helps us run the entire enterprise, supporting finance,
human resources, supply chain and more. The real-time
data collected through our single ERP platform provides
valuable performance and operational insights on our
projects at any time or any place through our digital platform
called VenSights. Additional dashboards provide a view on
how our business is performing across core areas such as
safety, health, sustainability, people and customer service.
We have made significant progress on building a digital
ecosystem that not only supports our current operations
but is ready for future customer and employee demands.
Our goal is to continue evolving into a truly data-driven
organisation where insights drive our decision-making.
23
VENTIA ANNUAL REPORT 2024 |

Creating value through innovation
HVAC system saves energy
Ventia piloted a program to trial a battery-powered
heating, ventilation and air conditioning (HVAC) system
on Ventia trucks to enable the air conditioning to run
without keeping the engine idling.
Ventia’s incident response teams are often required to
wait for long periods at incident and maintenance work
sites and need to keep the air conditioning idling in
soaring temperatures to remain cool and alert.
Through collaboration with external partners, a
functional new solution, the HVAC, was developed
and then installed on several Ventia trucks. The HVAC
system is battery powered, therefore the engine doesn't
need to keep running, which reduces fuel consumption,
greenhouse gas emissions and associated wear and
tear of Ventia trucks.
The pilot has proved to be technically and operationally
successful, achieving a per vehicle cost saving of up to
$12,800 and emissions savings of 15 tonnes per annum.
Case study
WINNER
Best Mobile
Partnership/ Initiative
Partnership with Optus - 5G mobile
coverage for Stadium Australia
2024 CommsDay Edison Award
WINNER
Business Innovation Award
2024 ABA100® Business
Excellence Awards
Australian Business Awards
Awards and
Recognition
Since trialling this initiative, we have begun to scale this across
our business to similar vehicles in our fleet and will continue to
roll out this initiative in 2025.
Pictured: HVAC truck
In 2024, we launched a new forward-looking innovation
strategy that articulates where we will direct our resources
to build innovation and deliver continuous improvement.
We are focused on imagining, testing and implementing
new, innovative customer-focused solutions and expanding
our AI toolkit to new areas of our business.
Ventia was recognised for our innovation in providing 5G
mobile coverage in partnership with Optus for Stadium
Australia. Utilising cutting-edge technology, Ventia helped
to provide improved bandwidth, faster speeds, and greater
reliability for all attendees at Stadium Australia.
At the sector level, we are currently running a pilot in our
transport business using AI to optimise the safety of our
mobile plant by using video analytics to initiate a vehicle
alarm when someone enters a pre-defined exclusion zone.
As part of our innovation strategy, we continue to
build effective partnerships. Within our business, our
operational teams partner with Digital Services and other
group functions to build on our innovation capabilities.
Externally, we are working in collaboration with companies
like Taronga Ventures and Amazon Web Services to unlock
new opportunities, such as streamlining our bid process.
Importantly, our employees want to contribute and
be part of our innovation success. By listening and
interacting with our employees on innovation, we strive to
differentiate ourselves as an employer of choice by building
a forward-thinking workplace.
24
| OUR STRATEGIC APPROACH

Ventia’s Comms Trailer:
Rapid remote deployment and resilience
Ventia’s Humanitarian Assistance and Disaster
Relief (HADR) Communication Trailer is an example
of innovation at Ventia and was soft launched
at the Land Forces Defence Exposition in 2024.
The trailer is designed to provide rapid deployment
of communication capabilities, enabling seamless
coordination between military, emergency services,
and civilian agencies during disaster relief operations.
This is enabled through partnering with industry,
in particular L3 Harris for the retransmission activity.
The HADR Communication Trailer is an advancement in
disaster relief technology and allows for the establishment
of communication networks in disaster-stricken areas.
This capability ensures that aid efforts can be coordinated
more effectively and efficiently, reducing response times
and improving overall disaster management. The trailer
is self-sufficient and operates autonomously off-grid,
powered by solar panels and a generator. This resilience
ensures continuous operation, providing reliable
communication support when it is needed most.
The Australian Defence Force will trial using the trailer
at two major upcoming military exercises.
Equipped with commercial space internet capability,
the HADR Communication Trailer offers robust and
reliable communication channels. This technology
enables real-time data transmission and connectivity,
facilitating better coordination among all involved
agencies. This versatility ensures that all stakeholders
can stay connected and informed, enhancing the
overall effectiveness of disaster relief efforts.
“
When considering the Whole of Government
environment in Australia: the resounding
message we receive is having some common
systems across agencies is important.
This ensures that agencies, including the
Australian Defence Force can communicate
with each other in times of national stress and
in the national interest. The communications
trailer that has been designed and built
by Ventia is a great step to progress the
technology to enable cross agency comms.

L3 Harris is proud to work with Ventia
on this effort.
”

Scott Harris
Regional Managing Director Aust/NZ,
International Sales – L3 Harris
Case study
Pictured: Comms trailer in Australian bushland | Photo by: maytheevoran (stock.adobe.com)
25
VENTIA ANNUAL REPORT 2024 |

1. Measured by EROAD. Star ratings are based on driver standards in comparison to EROAD driving population. To be a 5-star driver, you need to be in the top 10% of the
EROAD driving population.
Thriving
people
Highlights
Safe for Life frontline
leaders trained
830+
Ventia leaders trained in
Elevate safety program
455+
increase in 4-and 5-Star
1

Ventia drivers 
58%
Pictured: Members of our Firefighting & Rescue Services team, Oakey, Qld
Safety is our licence to operate
Our focus is on creating a safe and healthy
workplace. We do this by ensuring a culture of
safety ownership and accountability at all levels
of our organisation through empowering our teams
to anticipate and manage safety risks.
26
| THRIVING PEOPLE

80%
40%
80%
40%
80%
40%
80%
40%
40%
80%
80%
40%
40%
80%
40%
80%
 deterioration of 18% on FY23
Our approach to health and safety is overseen by our
Board and the Safety and Sustainability Committee
through our governance model, leadership principles
and operational disciplines. These principles and initiatives
are implemented by our leaders across our organisation
through our safety strategy, critical risks and agreed safety
performance indicators.
Even with our strong focus on safety training and systems,
it is with great sadness that we reported a fatality of a Ventia
employee in March 2024 in New Zealand. This tragic incident
shifted our safety mindset to implement focused initiatives to
share our knowledge, adopt best practices and embed safety
innovation. In 2024, we continued to implement existing and
new safety initiatives and programs.
Elevate Index
We developed a new holistic safety metric, the ‘Elevate Index’,
which is designed to provide a balance between measures
of leading and lagging indicators and cultural maturity.
The Index consists of eight key metrics: Total Recordable
Injury Frequency Rate (TRIFR), Return to Work (RTW)
<13 weeks, Critical Risk Assurance Activities, Critical Event
Reporting Lag, Critical Event Action Closure, Compliance
Training, ‘4- and 5-Star’ Drivers, and Leader Learning
Conversations. The Index combines these eight metrics,
to give an overall score of performance as a percentage.
The baseline score in January 2024 was 73% compared to
82% in December 2024 which show an improvement and has
enhanced decision-making at all levels of our organisation.
SIFR
2
0.13
in FY24
0.29
0.11
202220232024
0.13
1. Total Recordable Injury Frequency Rate
2. Serious Injury Frequency Rate
TRIFR
1
3.31
in FY24
 deterioration of 0.61% on FY23
202220232024
3.31
3.71
3.29
Elevate Index chart
TRIFR
Critical Event
Reporting Lag
Critical Event
Action Closure
RTW <13 Weeks
4 & 5 Star Drivers
LLCs
CRP Assurance
Activity
Compliance
Training
27
VENTIA ANNUAL REPORT 2024 |

Leader Learning Conversations
Leader Learning Conversations (LLC) provide leaders with
an invaluable opportunity to engage in an open two-way
discussion with employees about safety and to foster a culture
of transparency, accountability and continuous improvement.
To improve engagement, we strengthened our LLC process
in 2024 by introducing additional reporting criteria that has
resulted in a 231% increase in actions to improve safety across
our business and a 73% increase in the reporting of hazards.
New Zealand Safety Climate Survey
We partnered with a leading industry provider to deploy a
Safety Climate Survey across our New Zealand business in
2024. Aligned with our safety commitments, this inaugural
survey received above target response rates and provided
insights on workplace safety, empowerment to stop work and
the reporting of hazards and risks, as well as the expectations
we place on our subcontractors. A working group of cross
sector representatives was mobilised to create a program
of work to address survey feedback which included an
increased focus on leading safety activities, development and
launch of a reward and recognition scheme, and an in-depth
review of resources to address safety across our workplace.
Discussion groups with team representatives also encouraged
strong consultation and validation of work practices at
operational levels of our business. This survey will be extended
to our Australian business in 2025.
Stop Work Authority
We encourage all our employees to stop work if they feel their
own safety or the safety of others in the workplace is at risk.
All employees are issued with a Stop Work Authority card.
We have reinforced and strengthened the use of this authority,
ensuring our employees feel secure to stop work in challenging
or unsafe situations until everyone's safety is assured. In 2024,
568 Stop Work Authorities were used and our teams continue
to embed this important practice.
Road safety: safe driving excellence
Driver safety is a key critical risk for Ventia. Over 5,000 drivers
traversed across Australia and New Zealand in 2024, travelling
over 81 million kilometres. As driving and remote travel are the
highest risks, we target safe driving behaviours as part of our
annual ‘All Roads Lead to Home’ campaign, which focuses on
making every journey safe.
This integrated internal communications campaign provided
information and resources on road safety and included
masterclass sessions on safe driving, which contributed to
an improvement in driver behaviours as monitored through
our EROAD platform. We also deployed a new EROAD
1
feature
called ‘Drive Buddy Fatigue – Driver Alerts’ to mitigate
driver-related fatigue.
The campaign contributed to a 58% increase in 4- and 5-Star
drivers (as measured by EROAD) and a 29% reduction in
driving related infringements.
Healthy Minds and Healthy Bodies
We invested in our mental health program across the
year aimed at creating and sustaining a mentally healthy
workplace. Through our award-winning mental health training,
we onboarded 85 new Healthy Minds Champions and over
400 Healthy Minds Leaders who are advocates for mental
health and help support employees across our workplace.
We also implemented our Healthy Bodies Early Intervention
program, which provides immediate no-cost medical
assistance for Ventia employees and subcontractors via our
third-party workplace medical treatment partner. In 2024,
we experienced a 13% increase in participation in the program
and we plan to further embed Healthy Bodies in 2025.
Pictured: Two Ventia employees in a Ventia hybrid vehicle in NSW
Pictured: We onboarded 85 new Healthy Minds Champions
this year as part of our mental health program, ‘Healthy Minds’
1. EROAD is Ventia's fleet management and technology partner
28
| THRIVING PEOPLE

People are at the heart of our success
We are committed to building a thriving workforce where
everyone can grow, contribute, and succeed. Our culture is
shaped by our values of collaboration, integrity, challenge
and ingenuity.
Building capabilities at all levels
Our positive retention trend continued to build in 2024
illustrated by a reduction in turnover. This was achieved
through listening to our employees, increasing our training
and development, and focusing on employee engagement
throughout the year.
Ventia Academy, our central hub for internal training and
career development, played a pivotal role in driving this
engagement. Ventia Academy equips our employees with the
resources and connections they need to learn, grow and build
fulfilling careers within Ventia.
This year, we focused on developing our senior leaders.
A combination of in-person and virtual programs facilitated
valuable connections between team members, our Executive
Leadership Team and industry experts. These programs
fostered alignment with Ventia's strategy and deepened
our leadership team's understanding of enterprise leadership.
Over 500 employees participated in leadership development
programs during the year, strengthening our leadership
capabilities. Our internal Registered Training Organisations
in Australia and New Zealand supported 695 employees
to obtain nationally recognised certifications, including
405 employees who were awarded job-aligned
Certificate II – IV and Diploma qualifications. In addition,
we delivered 36 specialised compliance programs to
strengthen our risk management culture.
2024-2025
Inclusive
Employer
Highlights
employees participating
in leadership development
programs
500+
Pictured: Ventia employees at the Square Kilometre Array Observatory (SK AO) telescope site in Murchison, WA
Ventia Academy hosted its first Virtual Career Fair during
National Careers Week in 2024. This event, along with
the development of comprehensive career education
resources, provided employees with the tools and
knowledge to proactively manage their career paths.
We also launched an internal Career Champions program
to empower our employees to take ownership of their
career journeys by connecting them with internal mentors
who offer guidance, resources and networking support.
Fairness, Inclusion, and
Respect (FIR) Champions
100
29
VENTIA ANNUAL REPORT 2024 |

Attracting and retaining talent
There is much more to employee attraction and retention
than just salary. Creating a culture where diversity, inclusion
and flexibility are championed, is essential for attracting
and retaining local talent on merit and fundamental
to strengthening community ties, boosting employee
engagement, productivity and overall business success.
Merit at Ventia means fair opportunity, where effort and
capability determine success.
Local talent is important to Ventia, with 91% of our
employees living locally and bringing a vested interest in their
communities. Our Talent Acquisition teams are based across
Australia and New Zealand, focusing on a diverse pipeline.
In 2024, we partnered with organisations such as
CareerSeekers, Soldier On, and Working Parents Connect,
and engaged in events such as the Be Deadly Jobs Fair and
the Australian Defence Force Transition Seminar. These efforts
included networking opportunities and work experience
placements for local people.
We are committed to developing future leaders. This year,
we again implemented our award-winning graduate program
to offer accessible pathways for individuals to develop skills
and acquire experience placing us 38
th
in the Australian
Financial Review's Top 100 Graduate Employers list for
the 2024 intake.
Pictured: Women's Networking Event
in New Zealand for Ventia employees
WINNER
Best Health and
Wellness Program
2024 Defence and National Security
Workforce Awards
Defence Connect
WINNER
Executive of the Year 2024
Andrew Barlett, General Manager,
Defence Base Services contract
2024 Australian Defence
Industry Awards
Defence Connect
Awards and
Recognition
Employee relations
Our employees are covered by industrial instruments,
including Modern Awards, Enterprise Agreements,
Collective Employment Agreements, and Individual
Employment Agreements. This reflects the composition of
our workforce from school leavers and apprentices to highly
skilled employees.
In 2024, we had 32 Enterprise Agreements approved in
Australia and four Collective Employment Agreements
take effect in New Zealand. We will continue this positive
momentum, working collaboratively with our employees
and their bargaining representatives to secure mutually
beneficial outcomes.
Creating a fair, inclusive and
respectful workplace
For the second year running, we are proud to be recognised
as a Diversity Council of Australia (DCA) Inclusive Employer.
We have expanded the number of employee network groups
dedicated to fostering inclusion and amplifying diverse
voices. These groups provide safe spaces for employees to
connect, share experiences, and advocate for equity, thereby
strengthening our commitment to Fairness, Inclusion, and
Respect (FIR) principles.
Furthermore, we launched a new FIR Champion program,
empowering over 100 employees to actively promote FIR
values, challenge discriminatory behaviours, and contribute
to a more inclusive and respectful workplace.
30
| THRIVING PEOPLE

Gender balance across our organisation is integral to
our success. Through a range of initiatives, we aim to
create a more inclusive environment that benefits all genders,
encourages collaboration, and drives innovation. Our approach
ensures that everyone is valued, respected, and supported
in achieving their fullest potential. In 2024, we achieved our
HESTA 40:40 vision goal, with women's representation on our
Board increasing from the prior year to 42.9% (up from 37.5%)
and reaching 50% on our Executive Leadership Team
1
(up from
33.3%). Women in Senior Management (WISM
1
) increased to
30.8% from 26.6% and female participation in our workforce
reduced slightly from 31.6% to 30.9%. We continue to build
a diverse pipeline of talent including through our graduate
program, with 53% of this year's intake being women.
WINNER
Diversity and Inclusion
within the Workspace team
Erin Flannery, Project Services
Operations Director, Ventia
2024 National Association of Women
in Construction (NAIWC)
WINNER
Young Facilities
Professional of the Year
Shannon Lester, Facilities
Manager, Ventia
FM Industry Awards for
Excellence 2024
Facility Management Association
Awards and
Recognition
Gender diversity
Our gender pay gap
In Australia, we submitted our 2023-2024 gender pay gap data
to the Workplace Gender Equality Agency (WGEA) as required
by the Workplace Gender Equality Act.
Ventia acknowledges the gender pay gap within our workforce,
which reflects the difference in earnings between men and
women. While we pay equally for like-for-like roles, a gender
pay gap still exists. This gap is influenced by the broad mix of
industries and occupations within our company where the
gender composition varies. We are committed to achieving
pay equity across all our operations and, we have made
progress with our total remuneration median gender pay gap
narrowing from 39.1% to 35.3% in FY24.
This year, we have worked to close the gender gap by
conducting annual pay equity reviews, actively recruiting
women into senior leadership positions, leveraging data
insights to monitor our progress and focusing on initiatives
outlined in our 2024-2026 Women's Participation Action Plan.
2024-2026 Women's Participation Action Plan
This plan aims to drive gender diversity through
tailored enterprise-level and sector-specific activities.
Key objectives include:
• Develop: enhance development opportunities informed by
and for women enabling them to progress into more complex,
managerial or senior roles
• Retain: increase understanding, value and recognition of
women with a flexible and supportive workplace environment
• Attract: create pathways into employment that attract women
at all levels, into managerial and male-dominated roles
The new action plan is successfully advancing women's
development and careers within our organisation.
Key initiatives this year include a strengthened Women's
Employee Networking Group, targeted career support at the
Virtual Careers Fair, expanded mentoring through Community
Connect, increased ‘Women Leading’ program participation
and engagement in external leadership summits.
While progress has been made, we recognise that more work is
required to continue to achieve our women participation goals.
We are committed to furthering these goals through continued
investment in policies, practices and initiatives that support
women and their experiences at all levels of our business.
Supporting men in our workforce
We equally focus on and support men in our workforce.
This year, we raised awareness of social and health issues that
men and boys face. Improving men’s health is a key objective
for Ventia and in 2024 we launched a new Men’s Health
Employee Network Group. This group enables men across
Ventia to connect and take action to address mental and
physical health challenges.
1. Executive Leadership Team (ELT) is defined as the Group CEO and direct
reports. Women in Senior Management (WISM) is aligned to Ventia’s Job Level
Framework, an externally evaluated methodology application considering role
complexity and core job attributes such as impact, communication, innovation,
knowledge and risk.
31
VENTIA ANNUAL REPORT 2024 |

Indigenous participation
and reconciliation at Ventia
Our commitment to Indigenous participation
Our approach to Indigenous participation is underpinned
by respect, collaboration and creating opportunities.
We honour the cultural, spiritual and historical connections
that Aboriginal and Torres Strait Islander, and Māori and
Pasifika peoples hold to their lands and waters. By embedding
these principles into our operations, we align with our key
stakeholders, supply chain, and social impact goals, fostering
sustainable, long-term benefits for Indigenous peoples.
Advancing reconciliation in Australia
In 2024, we achieved key milestones under our 2023-2026
Stretch Reconciliation Action Plan (RAP). Our RAP is focused
on cultural safety, retention, recruitment, community, and
supplier engagement.
Notable achievements in 2024 include:
• Cultural safety and retention initiatives:
We offer trauma-informed, culturally sensitive support
for Aboriginal and Torres Strait Islander employees.
We provided direct support to 50 Aboriginal and Torres Strait
Islander employees throughout the year and has contributed
to an improvement in retention rates.
• Ventia empowers First Nations Custodial Officers:
Ventia's Training Recruitment, Employment, Care and
Career Advancement (TRECCA) team successfully recruited
and onboarded seven Aboriginal and Torres Strait Islander
custodial officers to the South Australia Prisoner Movement
and In Court Management contract. Key to this success
was the 'Aunty' model, which provides cultural support
and mentorship.
• Listening to the voice of our employees on reconciliation:
We launched the Workplace RAP Barometer to listen to
our employees about how our RAP is fostering a culture of
reconciliation across our workplace in Australia. This survey
helps us to drive positive change in our reconciliation
journey and in the communities in which we operate.
• Strengthening governance:
We welcomed new members to our Indigenous Advisory
Board (IAB), which plays a critical role in advancing
Aboriginal and Torres Strait Islander engagement and
outcomes. Our RAP Working Group meets quarterly,
bringing together those who are responsible for RAP
initiatives to ensure we stay accountable for delivering
meaningful RAP outcomes for Aboriginal and Torres Strait
Islander communities.
FINALIST
Social Procurement Impact
Partnership of the Year
Muru Mittigar - Ventia
and Transurban
2024 Social Traders Game Changer
Awards, NSW & ACT
WINNER
First National Excellence
Award - TRECCA
2024 Asuria Employer Awards
Asuria People Services
Awards and
Recognition
FINALIST
Ngā Āhuatanga o Te Tiriti
Tohu (Characteristics
of the Tohu Treaty)
Western Bay of Plenty Primary
Health Organisation
2024 Diversity Awards New Zealand
Diversity Works NZ
Pictured: Our Indigenous Advisory Board with our RAP painting titled
'Connections' at a meeting in Melbourne in March 2024
32
| THRIVING PEOPLE

1. According to Have Your Say survey conducted in 2023
Case study
Māori and Pasifika initiatives: enhancing
opportunities across New Zealand
Forty-one per cent of our workforce in New Zealand is Māori
and Pasifika
1.
. Ventia's dedication to 'Te Tiriti o Waitangi'
(The Treaty of Waitangi) acknowledges the fundamental
principles of partnership, participation, and protection.
Manaakitanga and kaitiakitanga (a sense of guardianship
and protection for our land) guides our people as we work to
Redefine Service Excellence.
These values are embodied through 'Te Ara o Rehua' (the working
group known as Te Roopū), showcasing Māori and Pasifika culture,
engagement and cultural capability across our organisation. Te
Roopū works with everyone in our business to ensure Ventia is a
great place to work for all our team members.
Our culture and 'Te Tiriti' are thoughtfully explained in our
Ventia Aotearoa Cultural Awareness Module, reflecting
the commitment of over 1,000 team members who have
successfully completed the module.
We increased our procurement with Māori and Pasifika
businesses in 2024, demonstrating our commitment to
improving Māori and Pasifika outcomes from a 'Te Tiriti o
Waitangi' perspective and embodies our fostering of fairness
and equitable outcomes.
Enhancing Māori and Pasifika
employment in New Zealand
Ventia fosters employment, cultural diversity and
community engagement by building strong relationships
with local iwi and other community groups, providing
training, mentorship, and employment opportunities.
We recruit Māori and Pasifika graduates through the
Māori and Pasifika Trades Training (MPTT) Consortia
and engaged with over 50 Māori and Pasifika businesses
through partnerships with Amotai and Ākina.
Ventia has also partnered with the Ministry of Social
Development (MSD) and Te Puni Kōkiri to deliver
upskilling programs for over 150 team members,
providing numeracy and literacy training.
We are dedicated to embracing all perspectives and
enhancing Māori and Pasifika capabilities, confidence
and engagement.
As a result, Ventia has increased Māori and
Pasifika representation across our business.
Pictured: Te Roopu strategy day
held at the Te Ma-nuka-nuka o
Hotu-roa Marae with employees
from our Auckland Airport contract
Pictured: Ventia employees greet each other with a Māori hongi at the
Te Ma-nuka-nuka o Hotu-roa Marae in Auckland, NZ
Case study:
Delivering on our commitments
(Wajarri Enterprises Limited)
Our joint venture (JV) with Wajarri Enterprises
Limited (WEL) focuses on Aboriginal and Torres Strait
Islander economic empowerment and sustainable
growth in Western Australia's central west. The
partnership, which includes managing contracts such
as the Square Kilometre Array Observatory (SKAO)
project, goes beyond traditional subcontracting by
awarding contracts directly, ensuring long-term,
community-centred outcomes. The collaboration,
which emerged from a 2023 Geraldton community
workshop, integrates WEL into core operations,
aiming for shared prosperity. The JV targets spending
20% of the project budget on local businesses and
incorporates Wajarri language in co-designed branding,
promoting cultural respect. This model exemplifies
meaningful engagement and sustainable economic
opportunities while honouring Wajarri culture.
Pictured: Wajarri
Enterprises employee
working on SK AO
project, WA
33
VENTIA ANNUAL REPORT 2024 |

1. As outlined in Australian Defence Magazine, Annual Top 40 survey in 2024
Case study:
Veterans
As a Top 4 Defence industry partner
1
,
we are committed to providing
opportunities for Australia’s veterans,
valuing their skills and supporting their
careers beyond the military.
In 2024, we were recognised as a
Veteran Employer of Choice by the
Australian Government Department
of Veterans’ Affairs after signing the
Veteran Employment Commitment (VEC).
Our dedication to veteran inclusion
was also highlighted by our winning the
Northern Territory Government’s Veteran
Employer of the Year Award.
Employed Reservists
Highlights
Employed veterans
470+
Defence industry partner

Top 4
Empowering veterans
Our commitment to the veteran
community has been reinforced by a
new alliance with Invictus Australia.
This affiliate of Invictus Games
supports the health, wellbeing and
resilience of veterans and their
families through a range of grass-
roots community initiatives.
Invictus – Latin for ‘unconquerable’
– is a fitting description of our
veterans and the organisations
that support them.
“
Our collaboration with
Ventia not only strengthens
the mental, social, and
physical wellbeing of
Veterans but also broadens
our community reach.
”

James Brown,
Chairman of Invictus Australia
WINNER
Northern Territory
Veteran Employer
of the Year
2024 Northern Territory
Veterans Awards
Northern Territory
Government
FINALIST
Excellence in
Supporting Veteran
and/or Parter
Employment
(National)
2024 Prime Minister's
National Veterans
Employment Awards
Department of
Veteran Affairs
Awards and Recognition
It enables us to support veterans
across all stages of their lives, including
what is often their most challenging
mission – transitioning into the
community post-military service.
The partnership has direct,
personal relevance to the more
than 700 veterans, reservists, and
Defence family members who work
for us, adding their unique skills,
knowledge, and resilient mindset
across our operations.
230+
In partnership with the Northern
Territory Government, we signed
a Memorandum of Understanding
(MOU) to support Operation Thrive,
a centre focused on veterans’ health,
wellbeing and employment. As part of
the MOU, we will sponsor the program
and employ 20 veterans per year.
Ventia has also launched our Veteran,
Reservist and Defence Family Member
Program, which demonstrates a formal
commitment to the employment and
support of Defence personnel.
Pictured: Ventia is proud to have decorated
veteran employees across our business
34
| THRIVING PEOPLE

Disability inclusion
In 2024, Ventia's inclusive employment program, Avenues,
continued to connect individuals with disability to meaningful
employment opportunities through strategic partnerships,
including with the Job Access agency and to over 45 disability
employment providers. Additionally, we launched a program
with a Disability Services and Registered Training Organisation
to offer part qualifications for people with disability to join
Ventia's Operations workforce.
Our partnership with Australian Spatial Analytics (ASA)
also grew. We supported 25 ASA data analysts across our
Transport, Telecommunications, and Defence and Social
Infrastructure sectors. ASA is a registered not-for-profit
social enterprise dedicated to training and employing young,
neurodivergent people in geospatial, digital engineering
and big data careers. Our work with ASA contributed to our
nomination for the Australian Disability Service Awards' Best
Employment Program.
Ventia was also recognised by the Australian Financial Review
as one of the Best Places to Work in Australia, attributed to
our Disability Employment Program, policy guidance, and
general support to strengthen our inclusive practices across
our business.
Increasing employment opportunities for
people with disability in New South Wales
In 2020, the Whole of Government NSW Schools (NSW
Schools) contract introduced a new key performance
indicator (KPI) focused on disability employment. To
meet this challenge, Ventia launched a forward-thinking
employment strategy that included partnerships with
disability organisations, tailored recruitment programs,
and initiatives to enhance workplace accessibility.
As a result, in the first 12 months disability employment
on this contract grew by 500% from 27 to 170
employees. We continued our efforts in 2024 by
investing $5 million annually in wages through our NSW
Schools contract for employees with disabilities.
Ventia's employees on this contract confirmed that
the company’s inclusive culture has been pivotal in
advancing their careers. Our approach to disability
inclusion has contributed to Ventia, and our partner
organisations, earning multiple national awards,
recognised as leaders in disability inclusion.
Case study
LGBTTQIA+ inclusion
Our Rainbow employee network, with support from
Executive Leadership, developed our first Rainbow
Inclusion Action Plan to further support and uplift our
diverse workforce.
In New Zealand, for a third time we achieved the Rainbow
Tick accreditation demonstrating that Ventia is a safe
and welcoming place for employees from the LGBTTQIA+
communities. This certification highlights our ongoing focus
on encouraging a culture of respect and inclusion. As part of
this, employees have completed Rainbow Awareness Training.
Additionally, we joined Pride in Diversity enabling access
to valuable resources and training to enhance workplace
inclusion further in Australia.
Pictured: Ventia's Group Executive for Digital Services,
Mel Evans was recognised as a finalist in the Executive
Leadership category at the New Zealand Rainbow Excellence
Awards. Pictured with colleagues from Ventia
We are also proud to have joined Pride in Diversity,
an employer support program for rainbow workplace
inclusion. Membership provides us access to valuable
resources, online training programs, recruitment and policy
guidance, and general support to strengthen our inclusive
practices across our Australian business.
35
VENTIA ANNUAL REPORT 2024 |

Resilient
and healthy
environment
Our climate approach
In 2024, we received validation
from the Science Based Targets
initiative (SBTi) for our near-term and
net zero emissions targets, ensuring
we have clear goals to focus on our
transition activities.
2024 Highlights
tCO
2
-e Scope 1 and 2 emissions
(market based)
39,773
tCO
2
-e Scope 1, 2 and 3 emissions
 Increase 31.8% from 2021
873,205
 Reduction in Scope 1 and 2
emissions from 2021 base year
21.3%
Light vehicle fleet EV and hybrid
11.1%
1. An economic intensity measure of greenhouse gas emissions per value added, where value added is operating profit = Earnings Before Interest,
Tax, Depreciation and Amortisation (EBITDA) + all personnel costs.
2. Ventia commits to reduce Scope 1, 2 and 3 greenhouse gas emissions by 90% by 2050 from a 2021 base year.
Pictured: Ventia delivers landscaping and maintenance services to Port of Brisbane, Qld
Our targets have been set considering
the aims of the Paris Agreement and our
commitment to the SBTi-led ‘Business
Ambition for 1.5
o
C’ campaign.
• By 2030, we are targeting an absolute reduction in Scope 1 and
2 GHG emissions by 42% from a 2021 base year. Additionally, we
are targeting to reduce Scope 3 GHG emissions from purchased
goods and services by 51.6% per million AUD value added
1
from
a 2021 base year; and
• By 2050, we are targeting net zero greenhouse gas emissions
across our value chain
2

36
| RESILIENT AND HEALTHY ENVIRONMENT

At Ventia, we are supporting
our customers in achieving their
sustainability goals and providing
credible pathways to reduce emissions
and improve their climate resilience.
As the provider of essential services,
with 400+ projects across Australia
and New Zealand, we are well
positioned to deliver climate-related
services through our expertise in asset
management, renewable generation
projects, electrical transmission and
distribution, and operations and
maintenance of infrastructure.
Through our service delivery and
transition activities, we are aiming
to achieve our sustainability goals
in a way that actively supports a
just transition by ensuring that
environmental, social and economic
considerations are integrated into
our strategies. We recognise there
is a strong link between nature and
climate, and it is our responsibility to
use resources efficiently and prevent
environmental harm.
Reducing our direct emissions from
fuel use across our operations remains
challenging as our business grows.
Our diverse and broad supplier
network of over 12,300 suppliers
provides a challenge in driving a
reduction in our Scope 3 emissions,
which forms our biggest emissions
footprint. Our transition plan, as shown
on pages 38-39, identifies targeted
activities that are currently in progress
or planned to achieve our emission
reduction goals.
Ventia Services Group Limited is
a climate-reporting entity under the
Financial Markets Conduct Act 2013
(New Zealand). Our climate-related
disclosures in this report form
our Climate Statement for 2024.
Refer to page 82 for our Statement of
Compliance. An index of our disclosures
for the Aotearoa New Zealand Climate
Standards is provided on pages 178-183.
Scope 1Scope 2Scope 3
Direct emissionsIndirect emissionsOther indirect emissions
By 2030
51% Intensity Reduction
Scope 3
42% Absolute Reduction
Scope 1 and 2
By 2050Net Zero Scope 1, 2 and 3
Our Emissions Targets
37
VENTIA ANNUAL REPORT 2024 |

Pathway to net zero
Ventia's Climate Transition Action Plan
Achieved a
21.3%
 absolute reduction in Scope 1 & 2
SBTi-validated 2030 and 2050 targets
SO FAR WE HAVE:
2021
42%
 Absolute reduction in Scope 1 & 2

BY 2030 WE TARGET:
51%
 Intensity
1
reduction in Scope 3
Scope 1 emissions
Scope 2 emissions
Scope 3 emissions
Our progress since 2021:From 2025 we plan to:
Although our actions are heavily dependent on
third parties including suppliers and contractors,
427 hybrid and electric vehicles in our fleet
of 3,859 light vehicles
Implementation of on-site rooftop solar
generating 266,000 kWh p.a.
Introduction of Greenpower purchasing
contributing 16.5% of our consumption
Identification of high-intensity
emissions inventory
Transition 3,700 light vehicle fleet to hybrid
and electric vehicles
I ncrease on-site solar generation and purchased
renewable electricity, achieving zero market-based
Scope 2 emissions by 2028
Transition to NABERS rated, energy-efficient buildings
Prioritise impactful supplier engagements to reduce
emissions of high-intensity purchased goods and
services, such as asphalt and concrete
3
Rollout charging infrastructure
Pilot alternative fuels, such as renewable diesel
and hydrogen
2025
1. Our economic intensity GEVA is a measure of greenhouse gas emissions where value added is equal to operating profit, namely EBITDA + all personnel costs.
2. Market based emissions.
Goal of 100% absolute
reduction in Scope 2
emissions by 2028
2
38
| RESILIENT AND HEALTHY ENVIRONMENT

At Ventia, we are seeking to play our part towards the Paris Agreement goal of limiting global warming to 1.5 degrees
above pre-industrial levels. Our Climate Transition Action Plan (CTAP) sets out our activities to reach our target milestones
to reduce our emissions and achieve our science based targets by 2030 and 2050. Ventia is still considering, as we build on
our CTAP, how our business model and strategy might change to address climate-related risks and opportunities (refer to
our approach to our identified climate risks and opportunities on pages 77-79). Ventia's internal capital deployment and
funding decision-making processes are not currently formally aligned with the CTAP.
BY 2050 WE TARGET:

Net zero
across Scope 1, 2 and 3
From 2030 we plan to:
Electrify or transition plant to lower
emissions alternative fuels
Install charging infrastructure at all major
locations
Transition to low carbon services and
materials
W ork with our suppliers and partners to seek
to decarbonise all of our Scope 3 emissions
categories in line with emerging technology
3
We recognise the importance of partnerships
and collaboration with our supply chain to
achieve net zero by 2050
Examples
INCREASING OUR RENEWABLE ELECTRICITY
• We have increased GreenPower across our
portfolio, saving 2,841 tCO
2
-e since 2021.
• In 2024, our properties consumed 1.6 MWh of
renewable electricity from on-site solar and
purchased GreenPower.
TRANSITIONING OUR FLEET
• We have retired over 390 combustion vehicles
since 2021.
• Our fleet transition includes our vehicles
and initiatives for heavier equipment.
See examples on page 42.
COLLABORATING WITH
OUR SUPPLY CHAIN
• Page 43 provides a case study on how we are
working closely with our supply chain to reduce
our asphalt Scope 3 emissions across the road
networks we support.
Net zero by 2050
20302050
3. In respect of our Scope 3 emissions, we are highly reliant on the ability of our suppliers to set and achieve emissions reduction targets,
which in turn are subject to dependencies that are outside of Ventia's direct control.
Graphic is for illustrative purposes only, and may not accurately represent emissions rate of reduction.
39
VENTIA ANNUAL REPORT 2024 |

Scope 1 36,253
Scope 2 3,520
(market-based)
Scope 3 833,433
Our emissions portfolio
1. GEVA is an economic intensity measure of greenhouse gas emissions per value added, where value added = operating profit = Earnings Before Interest, Tax, Depreciation
and Amortisation (EBITDA) + all personnel costs.
2. Our Climate Transition Action Plan sets out how we intend to bridge the gap between current emissions and our targets.
Ventia 2024 emissions inventory tCO
2
-e
Scope 1, 2 (market-based) and 3 emissions
(progress vs. near-term target)
2
Scope 1
(tCO
2
-e)
Scope 2
(tCO
2
-e)
Scope 3 PG&S
(tCO
2
-e)
GEVA Intensity
1
6,361
44,170
412,594
5,153
38,940
452,308
4,104
40,784
3,520
36,253
589,745
29,308
243,844
20212022202320242030 near-term
target
498,296
289
287
231
197
96
We calculate our Greenhouse Gas emissions in accordance
with the Greenhouse Gas (GHG) Protocol: A Corporate
Accounting and Reporting Standard. Scope 1 and 2 emissions
from Australia are calculated using the Australian National
Greenhouse Account Factors (NGAs) and for our New Zealand
operations we use the New Zealand Government Measuring
Emissions: A guide for organisations: 2024. Scope 3
emissions are calculated in accordance with the GHG
Protocol supplement to the Corporate Value Chain (Scope 3)
Accounting & Reporting Standard using a combination of data
sources and emission factors. The basis of preparation and
data methodologies applicable to our emissions disclosures
are provided in the 2024 Sustainability Databook.
We completed the acquisition of Landscape Solutions in
New Zealand, effective 1 July 2024. This change is anticipated
to contribute an additional approximately 2,000 tCO
2
-e
Scope 1 and 2 per year.
Scope 3 emissions represent the largest portion of our
total emissions profile (95.4% or 833,433 tCO₂-e in 2024).
Our near-term science based target for Scope 3 emissions
is an intensity metric (GEVA
1
), which relates to a portion of
emissions from Purchased Goods and Services, representing
the largest component of our Scope 3 emissions inventory
(67% of our Scope 3 baseline). In 2024, total emissions
from Purchased Goods and Services emissions were
684,417 tCO₂-e in total, our GEVA intensity metric covers
589,745 tCO₂-e.
In line with the Science Based Targets initiative, we are not
currently pursuing any nature-based solutions or offsets,
focussing on absolute reductions to our emissions. We may
use offsets in certain circumstances, for example, to offset
residual emissions after all feasible emissions reduction has
been undertaken in order to meet Ventia’s net zero goal.
Pictured: Photo competition entry from a member of our Telecommunications team of landscape in NSW
40
| RESILIENT AND HEALTHY ENVIRONMENT

Scope 1 and 2 measurement methodology
We collect greenhouse gas (GHG) emitting consumption source
data for our directly controlled Scope 1 and 2 emissions,
supported by our data management architecture. Source data
is collected for liquid fuel, natural gas and electricity in source
units of measure which are in-turn converted into tCO₂-e using
National Greenhouse Accounts (NGA) 2024 emission factors and
the Measuring emissions: A guide for organisations: 2024 detailed
guide, Ministry for the Environment, May 2024 guidance.
Emissions from purchased electricity, Scope 2 emissions,
are reported utilising market-based emission factors
(our standard basis for Scope 2 reporting), allowing us to
account for investments in different electricity products
and markets. This includes voluntary purchases of
renewable electricity and mandatory schemes including the
Large-scale Renewable Energy Target. We also calculate our
location-based Scope 2 emissions, utilising location-specific
greenhouse gas emissions factors.
While our data collection processes and controls reduce
uncertainties in our Scope 1 and 2 data, the nature of emissions
quantification includes limitations. Our annual inventory
includes estimates for the month of December, accounting
for 6.7% of our reported 2024 emissions. GHG quantification
is subject to inherent uncertainty because of the evolving
knowledge and information used in estimating emission factors
and the values needed to combine emissions of different gases.
We determine our emissions inventory in consultation with
our customers by assessing boundaries of responsibility,
establishing direct control and responsibilities for Scope 1
and 2 emissions.
In 2024, in alignment with our customers, operational
boundaries were adjusted for some of our contracts.
Through this refresh of boundaries, we determined
4,941 tCO
2
-e of emissions disclosed for our 2023 inventory
are outside our operational boundary, which is reflected
in our revised 2022, 2023 and 2024 emissions inventory.
1

These adjustments did not materially impact our base
year 2021 inventory.
0
10,000
20,000
30,000
40,000
50,000
60,000
20212022202320242030
near-term
target
44,17038,940
40,784
36,253
Intensity (t/$mAUD)
Scope 1 (tCO
2
-e)Scope 2 (tCO
2
-e)
6,361
5,153
4,104
3,520
29,308
Emissions (tCO
2
-e)
Intensity (t/$mAUD)
0
2
4
6
8
10
12
14
11.1
8.5
7.9
6.5
Scope 1 and 2 (market-based) emissions tCO₂-e
2024 emissions
• Our total Scope 1, 2 and 3 emissions are 873,205 tCO₂-e
(increase of 11.22% from 2023, and 31.85% from 2021 base year).
• Our 2024 Scope 1 emissions are 36,253 tCO₂-e
(reduction of 11.1% from 2023).
• Our 2024 Scope 2 market-based emissions are
3,520 tCO₂-e (reduction of 14.2% from 2023).
• Our 2024 Scope 2 location-based emissions are
4,573 tCO₂-e (reduction of 5.4% from 2023).
• Our 2024 Scope 1 and 2 market-based combined
emissions are 39,773 tCO₂-e (reduction of 11.4%
from 2023).
• Our 2024 Scope 1 and 2 location-based combined
emissions are 40,826 tCO₂-e (reduction of 10.5%
from 2023).
• Our total 2024 operational Scope 1 and 2 market-based
emissions intensity per $1m revenue is 6.5 tCO₂-e/$m,
(down from 7.9 tCO₂-e/$m in 2023).
• Our total 2024 energy consumption is 548,176 GJ
(reduction of 10.6% from 2023).
Scope 3 measurement methodology
Our Scope 3 emission factors are provided by a variety of
third-party data sources, representing the emissions profile
of the services or materials procured. The spend-based
approach used to estimate most of our Scope 3 emissions
has inherent inaccuracies in the methodology. Collaboration
with our suppliers will be a priority in support of our
ambition to directly measure product- and supplier-specific
emissions inventory. We are continuing to evolve our spend
categorisation and relevant emission factors to inform our
Scope 3 inventory.
2024 Scope 3 emissions
Our total Scope 3 emissions for 2024 are 833,433 tCO₂-e,
an increase of 12.6% from 2023 driven by increasing spend
in purchased goods and services. Our intensity metric
GEVA has increased to 231 (increase of 17.4% from 2023)
as our business continues to grow.
1. Our prior year market-based emissions have been adjusted from the previously reported figures due to removal of data outside Ventia’s operational control:
2022 restated from 44,918 tCO₂-e to 44,093 tCO₂-e; and 2023 from 46,287 tCO₂-e to 44,888 tCO₂-e.
Purchased goods
and services 684,417
Capital goods 19,737
Fuel- and Energy-Related 9,653
Upstream transport 53,143
Waste 22,341
Business travel 14,434
Employee commuting 27,914
Upstream leased assets 4,334
Scope 3 emissions by category tCO₂-e
41
VENTIA ANNUAL REPORT 2024 |

Diesel – Transport 75%
Diesel – Stationary 17%
Petrol 5%
Aviation Fuel 3%
Decarbonisation priorities
Our future activities in
reducing our Scope 1 emissions
We will continue to replace internal combustion engine
vehicles with hybrid vehicles and electric vehicles (EVs)
wherever possible, having increased our hybrid fleet to
416 vehicles and EVs to 11 in 2024. Our transition plan includes
the acceleration of our fleet transition as appropriate vehicle
types

and charging infrastructure become available.
As technologies evolve, we expect to be able to transition
our heavy vehicles and other direct Scope 1 emission
sources to low- or zero-emissions energy sources. We foster
a culture of innovation and are closely monitoring progress
in new technologies, including battery energy density and
alternative fuels. We are focused on creating opportunities
to demonstrate new technologies, for example, in 2024 we
piloted a hydrogen bus in partnership with Toyota as part
of our ongoing work with Defence.
Reducing our Scope 2 emissions
through property efficiencies
Our Scope 2 emissions are generated through the purchased
electricity we consume across our property portfolio and at
project locations. In 2024, Ventia's total energy consumption
was 30,106 GJ generating 3,520 tCO₂-e market-based
emissions through purchased electricity across 157 directly
controlled properties in Australia and New Zealand.
In 2024, we reduced our directly controlled Scope 2 emissions
by 584 tCO₂-e
3
from 2023 (2,841 tCO₂-e from our base year
2021) by adding onsite renewable generation from solar, and
increasing our renewably sourced electricity procurement.
During 2024, we relocated our Western Sydney office to a
~3000 sqm office at Hassall Street, Parramatta, a fully electric
NABERS 5-star property, where all electricity supplied is
from renewables, including purchased renewable electricity
reducing our Western Sydney footprint by 82 tCO₂-e.
4
As we work towards our aim to achieve 100% renewable
electricity use, we increased solar generation at our
offices, sites and depots this year by 11%, and increased
GreenPower
5
by 76.7%. We continue to work to rationalise
and consolidate our property portfolio, creating-energy
efficient property hubs.
Reducing our Scope 1 emissions
through fleet transition
Our Scope 1 emissions are generated through liquid fuel
combustion within our vehicles, our use of plant and
equipment (94%), and limited natural gas combustion
(less than 1%) used in building heating and hot water systems.
In 2024, our directly controlled plant and equipment primarily
comprises 3,859 light vehicles,
1
more than 2300 other vehicles,
2

electrical generators (where grid power is not available) and
ancillary tools.
From our inventory base year of 2021 to 2024, we have
reduced our directly controlled Scope 1 emissions by
7,917 tCO₂-e through initiatives, including rationalising our
fleet and by investing in fuel-efficient combustion, hybrid
and electric vehicles.
In 2024, our directly controlled Scope 1 emissions have
reduced by 4,532 tCO₂-e from 2023. Our emissions reductions
are attributed to our focus on fleet rationalisation, including
fuel-efficient replacements, improving driver behaviours,
including reduced vehicle idling, informed through in-vehicle
telematics and changes to our emissions portfolio. To further
reduce idling-associated emissions, we are deploying battery
storage in select vehicles to enable continuous climate control
without fuel combustion.
1. Light vehicle means any road registered vehicle with a Gross Vehicle Mass (GVM) less than 4.5 tonnes.
2. Heavy vehicles GVM more than 4.5 tonnes and non-road registered vehicles.
3. Based upon market-based electricity emissions in the context of investments in different electricity products and markets. This includes voluntary purchases
of renewable electricity and mandatory schemes including the Large-scale Renewable Energy Target.
4. New property performance compared to 2023 emissions for previously occupied property in Parramatta NSW.
5. GreenPower is 100% renewable electricity available for households and businesses through most energy retailers in Australia.
Refer to https://www.greenpower.gov.au/
Scope 1 emissions by energy source
42
| RESILIENT AND HEALTHY ENVIRONMENT

Building partnerships to reduce
our Scope 3 emissions
To improve the accuracy of our Scope 3 inventory,
and to inform decisions to reduce our indirect emissions,
we will work with our diverse supply chain to support capacity
building across industry. We work with high-emission intensity
suppliers, such as for asphalt and concrete, where we have
an opportunity to pursue significant emission reduction
pathways and improve our Scope 3 emissions data capture.
For example, we have reduced asphalt placement emissions
through supplier and customer collaboration across road
networks we support in three states, Qld, Vic. and NSW,
resulting in 275 tCO₂-e reduction in our asphalt placement
emissions 2024.
Outlook
Our 2024 emissions performance provides Scope 1 and 2
reductions as we progress towards our 2030 goals. Our Scope
3 performance demonstrates further work is required to
improve both the accuracy of our emissions data and emission
reductions within our value chain. We recognise our broader
marketplace transition to a resilient, low carbon economy will
take time, investment and technological advancement.
Emissions data assurance
In 2024 Limited Assurance has been provided on our climate
metrics of:
• energy consumption
• Scope 1 and 2 emissions
• emissions intensity
• renewable electricity consumed
• hybrid and electric vehicles.
The Independent Limited Assurance Report is available on
pages 83-85 of this Report.
Looking ahead to 2025, we plan to pursue independent
limited assurance over Scope 1, 2 and 3 emissions as required
by Part 7A of the Financial Markets Conduct Act 2013.
Reducing road maintenance emissions
Ventia provides strategic operations and maintenance,
asset management and renewals services for over
9,500 kms of road networks across Australia and New
Zealand. Where a road surface requires replacement or
resurfacing, we consider sustainable solutions in our
approach, including material selection and associated
Scope 3 emissions.
At our South East Queensland Road Asset Management
project, we are utilising a proprietary biogenic bitumen
alternative to bitumen derived from fossil fuel in
collaboration with our delivery partner, Austek and
bitumen supplier, Puma. This bio-based bitumen is
sourced through a plant and vegetation waste stream
reclamation process, resulting in an asphalt product
with significantly lower emissions when compared with
traditional asphalt mixes.
Our Victorian Western Roads Upgrade project delivered
Victoria’s first commercial implementation of an EME2
road resurfacing technique. EME2 is a high durability
asphalt product which has reduced the thickness
required by 25 to 40% compared to the conventional
asphalt while maintaining the same performance. EME2
provides construction benefits reducing construction
time, materials and emissions.
Our NSW Sydney Roads Asset Performance project
continues to innovate with asphalt mixes, including
utilising asphalt mixes, of up to 40% Reclaimed Asphalt
Pavement (RAP), the incorporation of waste glass in
asphalt mixes and the use of 18% crumb rubber sourced
from recycled tyres to reduce Scope 3 emissions
through our supply chain.
Across these projects, Ventia has avoided 275 tCO₂-e
Scope 3 emissions in 2024 when compared to
traditional asphalt mixes.
Case study
Pictured: Resurfacing road surface, Northland, NZ
43
VENTIA ANNUAL REPORT 2024 |

Ventia partners with Telstra and
Energys to enhance energy resilience
In July 2024, Ventia partnered with Telstra and Energys
to launch a trial of Hydrogen Fuel Cell Generators.
The pilot program, supported by the Victorian
Government, aims to revolutionise backup power
solutions by introducing Hydrogen Fuel Cell technology,
generated from renewable energy sources, as a
zero-emissions fuel alternative to diesel.
These hydrogen systems can provide up to 72 hours
of backup power at these sites, many times more than
the current battery backup power capability. Ventia’s
scope of work includes the installation, commissioning
and maintenance of these 10 kW renewable hydrogen
generators across five remote telecommunications
sites in Victoria.
This pilot provides Telstra with an alternative energy
option that could help keep communities connected
during an extreme weather event.
Case study
Energy transition
Ventia is actively engaged in the energy transition across
Australia and New Zealand. In New Zealand, we continue to
support the contribution of renewable energy to the national
grid, providing maintenance services and minor capital works
on hydro-generation, wind, solar and geothermal assets.
In Australia, Ventia is supporting the delivery of renewable
energy projects, including connecting the 39 MW Wangaratta
solar farm for AusNet Services, developed by CleanPeak
Energy, located in North Wangaratta and delivery of the
Mulwala 4 MW photovoltaic solar array in south-west New
South Wales for Defence.
Other examples of supporting our customers towards their
sustainability goals this year:
• In 2024, we identified over 50,000 tCO₂-e of emission-saving
opportunities for our customers through resource and
energy efficiency audits conducted by our Projects and
Workplace Solutions team.
• Ventia’s Australian Infrastructure Services Transmission
& Distribution teams replaced more than 90 km of power
distribution poles and wires throughout 2024.
• Ventia’s Defence and Social Infrastructure business replaced
over 40,000 LED light fittings, including adding light sensors
as appropriate across various defence bases.
• Ventia’s Infrastructure Services business replaced over
70,000 streetlights, including upgrading of lamps to LED
globes and replacing over 1,100 power poles.
• Supported Toyota with a substation upgrade at their centre
for hydrogen innovation in Victoria.
• Supporting Christchurch Airport and Orion’s future
requirements by delivering grid connections for the Kōwhai
Park Solar Farm.
• Ventia supported the commissioning and ongoing
maintenance of hydrogen fuel cell generators across
Telstra’s mobile network – see Case Study.
Industry collaboration
We are an engaged member of the Australian Climate
Leaders Coalition (CLC). During 2024, we participated in
the CLC Climate Transition Action Plan working group and
our involvement in a trial initiative from 2023 was shared in
the Internal Carbon Pricing for Decision Makers guidance
document published this year. The learnings from the trial
have informed our introduction of an internal carbon pricing
trial for our internal capital decision making process this year,
the results of which will be evaluated in 2025.
Pictured: A hydrogen fuel cell installation at Neerim North, Vic
44
| RESILIENT AND HEALTHY ENVIRONMENT

We are committed to protecting environmental
value through the way we work. This year,
we continued to enhance our environmental
systems, training and capabilities, while
strengthening our compliance to reduce use
of resources, waste and emissions across
our business.
The scope and scale of our services mean there is potential
for our operations to adversely impact the environment.
To minimise our environmental impact, we implement
a range of initiatives to prevent pollution, protect and
enhance biodiversity, and promote efficient resource use
and avoid waste.
In 2024, we continued our roll out of Environmental Awareness
Training to an additional 1,995 staff and new starters across
the business. The training enhances understanding of our
environmental management system, minimum controls,
environmental and sustainability policies and expectations for
all workers with respect to environmental requirements when
working for us.
Our project teams increased their due diligence activities with
an increase in environmental critical control checks (CCCs),
exceeding our annual target in 2024 by 30% and surpassing
our 2023 figure by 43%. This is a clear demonstration of
the commitment of our operational staff to maintain and
continuously improve our standards of environmental
management at the project level.
Protecting our environment
1. A serious environmental incident includes any event that resulted in a major or catastrophic consequence to the environment according to Ventia’s Risk Matrix.
We respond to all environmental events with appropriate
action and drive continuous improvement and learning to
prevent recurrence and improve environmental performance.
In May 2024, we received two fines of $5,769 AUD each from
Environmental Protection Agency Victoria for an unlawful
waste disposal incident that took place from a Transport
project in November 2023. In response to the serious
environmental incident,
1
a thorough investigation was
conducted and corrective actions were implemented to
address operational processes, documentation and staff
training to prevent the chances of recurrence.
In October 2024, the New Zealand Environmental Protection
Agency (EPA) charged Ventia NZ Operations Limited with
three offences involving unlawful clearing of vegetation,
performance of earthworks, and discharge of water in
proximity to a protected inland wetland area, for events
alleged to have occurred in 2023. Further details are included
in the Directors’ Report on page 91.
In March 2024, Ventia recorded a serious environment incident
resulting in a warning letter from the NSW National Parks
and Wildlife Services for conducting vegetation clearing
works beyond the approved work boundary. A thorough
investigation was launched into the event and a number of
corrective actions were implemented including procedural
updates, land access awareness training and updates to
Ventia’s digital work order distribution platform to increase
compliance with critical environmental permit requirements.
The majority of environmental events in 2024 were negligible
or minor in nature with temporary and recoverable
environmental impacts, such as minor leaks and spills of
oils or fuels from plant and equipment operation.
Pictured: Members of Ventia's Environmental Services team, Geelong, Vic
45
VENTIA ANNUAL REPORT 2024 |

Healthy Planet campaign
In 2024, we launched our second annual Healthy Planet
campaign with a focus on carbon emissions reduction to drive
awareness and action. Highlights of the campaign included:
• A panel discussion with Ventia and external sustainability
leaders on the market trends and industry drivers for
measures to address operational emissions
• Two masterclass sessions discussing our initial emissions
reduction activities and supporting systems
• A series of short videos and project-based case studies
showcasing initiatives from across our operations
• Launch of an idling assessment program for 451 high-idling
light vehicles identified across the business.
The results of the idling assessments included 159 drivers
identified to complete driver idling awareness training; seven
vehicles were identified for priority transition to hybrid or
electric alternative. Furthermore, 103 vehicles were identified
for potential modification, such as the installation of a second
battery to power auxiliary systems, such as flashing lights and
radios, reducing the need for vehicle engines to be running.
Since the rollout of the campaign in August there has been a
reduction of 7% in average idling hours per vehicle compared
to the same timeframe last year (August to December).
Managing and reducing waste
In 2024, our focus was to map our waste profile and execute
targeted waste reduction initiatives, which saw us improve
visibility and accuracy across our waste measurement and
deliver initiatives through our Resource Reduction Plans.
Engagement with our waste service providers has enabled
improved waste data management, including visibility of waste
stream volumes and landfill diversion rates based on waste
tonnage with fewer estimates based on waste spend data.
This engagement will also enable a more strategic approach to
waste management and identification of waste reduction and
landfill diversion opportunities at the contract level.
In 2024, we generated approximately 23,100 tonnes of waste,
with 15% diverted from landfill.
1
In 2025, we will continue our
consolidation of waste reporting to further improve accuracy
and identify diversion opportunities.
Initiatives delivering waste reduction this year have been
driven by our sector Resource Reduction Plans, project
level initiatives and as part of our service offerings in our
environmental services business.
Our team on the Sydney Roads Asset
Performance Contract identified an
opportunity to find a useful application for
sandstone removed during essential slope
remediation. Approximately 360 tonnes of the
sandstone material was beneficially reused
around the Blue Mountains National Park.
Enhancing our Environmental
Management System
In 2024, enhancements to our ISO14001 accredited Group
Environmental Management System were rolled out,
including development of new management plans, processes,
procedures, guides and training materials. These system
enhancements support the business to comply with legislative
requirements, ensure applicability to growing service offerings
in diverse industries and exposure to new environmental
risks, and enable continuous improvement in the quality of
environmental resources available to staff.
As part of the systems improvements, 10 new environmental
processes were developed supporting our most common
environmental risk categories. This was followed by awareness
sessions, management system update notifications and
internal newsletter articles, and short training videos outlining
key changes. Ongoing training resources and communication
will continue throughout 2025 and beyond to ensure
environmental compliance with our improving systems.
Our environmental event measure
In 2023, we introduced the total recordable environmental
event frequency rate (TREEFR) metric to provide insight into
environmental events with a material (moderate or higher)
impact on the business or the environment.
In 2024, we have continued the tracking of TREEFR to identify
key environmental risk areas across our operational sectors.
TREEFR management plans were implemented by all sectors
to proactively improve diligence activities around TREEFR
events and prevent recurrences. Since June 2024, the TREEFR
rate has reduced steadily to 0.26, which is a 47% reduction
from its peak earlier in the year in May.
The TREEFR metric has shown that the two most common
recordable environmental events in 2024 were related
to risks and impacts on flora/vegetation and waterway
contamination. Ventia will continue to monitor TREEFR
to support risk-based decision making for environmental
management across the business.
Biodiversity and natural values
During 2024 we provided bushland restoration and
management, landscaping and weed management
services covering a combined area of more than
one million hectares for our Transport, Local Government
and Defence customers in Australia and New Zealand.
In 2025 we will review our interface and impacts with
nature and biodiversity, including our use of and
dependency on natural assets.
1. Waste managed by directly engaged waste management providers, excluding hazardous, liquid and soil waste. Waste and diversion volumes estimated for 15.9% of
Ventia's waste tonnage where consolidated reporting from vendors was not available at the time of reporting. Diversion rate calculated based on tonnes diverted
(recycled or reused) or recovered (converted to energy) divided by tonnes of waste.
46
| RESILIENT AND HEALTHY ENVIRONMENT

WINNER
Leadership in
Environment, Social
and Governance (ESG)
(Emissions Reduction
Planning & Reporting
for the Commonwealth
Government)
FM Industry Awards for
Excellence 2024
Facility Management
Association
WINNER
Best Contaminated
Site Remediation
Project Award 2024
(in partnership
with Jacobs)
Contamination
Remediation Works of
Melville Island MV-22B
Osprey Crash Site
ALGA Awards 2024
Australasian Land and
Groundwater Association
Awards and recognition
WINNER
Northern Territory
award for project
value $30-75 million
Ranger Mine Pit 3
Rehabilitation Project
CCF Earth Awards
Civil Contractors Federation
Remediating legacy pollutants at Fiskville
We were engaged by the Victorian Country Fire Authority
(CFA) to undertake remediation works on properties
surrounding the former Fiskville Training College.
The College was used for firefighting training from the
1970s until its closure in 2015. During its use, aqueous
film forming foams (AFFF) were employed to extinguish
flammable liquid fires. The AFFF contained per- and
poly- fluoroalkyl substances (PFAS), a group of chemicals
known as forever chemicals due to their persistence
under natural conditions. The objective of our remedial
works was restoration of environmental values of soil,
sediment, surface water and groundwater across the
surrounding properties.
Key highlights:
• Construction and operation of a water treatment
plant to treat PFAS-impacted water
• Excavation, stabilising and onsite containment
of 10,372 m
3
of PFAS-impacted sediment
• Offsite treatment and disposal of 3,333 m
3

of PFAS-impacted sediment
• Restoration of one farm dam and decommissioning
of three others
• Importation of 23,069 m
3
of clay fill and 6,597 m
3
of
topsoil to cap and contain PFAS impacted sediments.
The project was successfully completed in October 2024.
Case study
Pictured: Remediation at Fiskville
47
VENTIA ANNUAL REPORT 2024 |

Local
and diverse
supply chain
Pictured: Employees from Civik Social Enterprise working on a Ventia project in Cairns, Qld
48
| A LOCAL AND DIVERSE SUPPLY CHAIN
We achieve supplier diversity across our supply chain by doing business with a range of local, Indigenous, and social
enterprises so we can actively contribute to the economic growth of local communities. Our approach to ethical procurement
is aligned with the United Nations Guiding Principles on Business and Human Rights and we strive to advance our approach to
ethical and sustainable buying.
We work with over 12,000 suppliers and vendors across
Australia and New Zealand to enable us to deliver essential
services for our customers and communities. In 2024, 99%
of our spend stayed within Australia and New Zealand and
87% stayed within a state or region.
Highlights
suppliers across Australia
and New Zealand
12,300+
procurement spend with
local suppliers in Australia
and New Zealand
99.0%
spend with Aboriginal and
Torres Strait Islander businesses
$173.6m

Local
and diverse
supply chain
49
VENTIA ANNUAL REPORT 2024 |
Our supply chain approach
In 2024, we formally launched our Supply Chain
Transformation Strategy designed to:
• deliver a procurement program to elevate our supply chain
partnerships to an enterprise level to better leverage our
enterprise buying power and optimise cross-sell
• ensure we have the right team and skills in place to provide
best-in-class procurement
• develop ‘raving fans’ internally and explore technology
solutions to enhance our internal stakeholder experience
and streamline interactions with our supply chain,
minimising risk and prevent overspending
• ensure sustainable procurement is a key priority
and requirements are being met and tracked
• be a preferred and strategic partner to our suppliers
• ensure safety and wellbeing is at the centre of
everything we do across our supply chain.
We are committed to continuing to implement our
transformation strategy in 2025, which aligns with our
corporate strategy to Redefine Service Excellence by
being customer focused, sustainable and innovative.
Sustainability across our supply chain
Our largest contributor to our carbon footprint is our Scope 3
emissions, with the largest contribution coming from the
goods and services we procure from our suppliers.
Achieving net zero emissions throughout our entire supply
chain will require effective and co-ordinated collaboration
across our diverse range of stakeholders.
In 2024, we improved our collation and reporting on waste
across our supply chain through increased collaboration with
key waste service providers and greater measurement of waste
diversion at the individual project level. Refer to page 46 for
our 2024 waste management outcomes.
While we have made progress on our environmental
impact across our supply chain, we are committed to further
embedding sustainable practices by optimising resource
use, minimising waste and adopting solutions to achieve
emission reductions.
Continuous improvement through innovation
We continue to create value from data analytics and insights
on our single enterprise-wide platform, VenSights, which
enables us to make operational and process improvements
across our supply chain. Our single enterprise wide reporting
platform supports the way we manage and deliver goods and
services through our supply chain, using new technologies
such as AI to make process improvements.
Looking ahead, we will continue to look for ways to innovate
such as standardising our payments approach and enhancing
the accuracy and transparency of our supply chain.

Our approach to Aboriginal and Torres Strait Islander
procurement has resulted in increased spending with
a higher number of Aboriginal and Torres Strait Islander
businesses in 2024 compared to the prior year. We spent
$173.6 million with 206 Aboriginal and Torres Strait
Islander businesses and spent $8.5 million with 42 Māori
and Pasifika suppliers.
We surpassed our Indigenous business spend target of 4%,
reaching 4.6% of our total third party spend in 2024 and we
prioritised timely payments to Indigenous suppliers, with
improved performance of achieving our payment terms.
Recognising that our approach to Māori and Pasifika
procurement in Aotearoa is not as mature as in Australia,
we undertook a deep dive in March 2024 to better
understand our current level of spend and identify
key areas for improvement.
Working with our supplier diversity partner Amotai, we used
the Tere Ki Tai buyer maturity assessment tool to identify if
our suppliers are Māori owned, Pasifika owned, or Māori and
Pasifika owned in our supply chain.
Spend with Aboriginal
and Torres Strait
Islander businesses in
Australia ($m)
Number of
Aboriginal and
Torres Strait
Islander suppliers
202220232024
202320222024
184
165
206
107. 3
122.0
17 3.6
Indigenous procurement
As a result, we have developed Ventia’s first Aotearoa-
specific procurement strategy focusing on supplier diversity.
This strategy aims to increase our procurement spend
with Māori and Pasifika-owned businesses to 5% in 2025
and further embed supplier diversity into our everyday
procurement practices.
Human rights and ethical procurement
We take a proactive, evidence, and risk-based approach to
manage human rights risks in our operations and supply
chain. Our risk assessment considers factors such as the type
of product or service being procured, the geographies where
our supply chain partners operate and the value of spend to
influence positive outcomes.
Our approach to ethical procurement is supported by our
Modern Slavery Policy and our Code of Conduct. In 2024 we
set minimum standards of engagement with suppliers and
subcontractors and we updated our terms and conditions to
include new supplier trading terms.
In 2024, more than 80 suppliers and subcontractors took part
in our modern slavery due diligence to better understand
our risk exposure to modern slavery. Our findings will inform
how we further collaborate with our supply chain partners
for the continuous progress towards eliminating modern
slavery. We have also conducted prequalification assessments
that incorporated human rights and modern slavery risk
assessment criteria at the supplier on-boarding stage.
Modern Slavery training is embedded in our Code of
Conduct training, which is mandatory during employee
induction. It is required training annually for our Directors,
leaders and employees and 99.3% of our permanent full-time
employees completed this annual training in 2024.
Our Whistleblower Protection Policy outlines how a suspected
misconduct or an improper situation or circumstances in
relation to Ventia can be reported and the protections a
whistleblower will receive.
We continued as members of and contributors to the
Infrastructure Sustainability Council’s (ISC) Modern Slavery
Coalition in Australia in 2024. Our continued contribution
supports the objectives of our customers and promotes
action throughout our supply chain. The coalition focuses
on accelerating the eradication of modern slavery in the
infrastructure supply chain by shifting industry from reactive
compliance to transformational leadership.
50
| A LOCAL AND DIVERSE SUPPLY CHAIN

We are dedicated to fostering meaningful partnerships with
social enterprises as part of our people and community focus.
Throughout 2024, we partnered with a range of social enterprises,
charities, and not-for-profit organisations to support local
community needs, including Indigenous groups, people with
disability, disadvantaged youth, and the long-term unemployed.
In 2024, we continued to work closely with leading advocates
for social enterprises, such as Social Traders in Australia and the
Akina Foundation in New Zealand. We spent $14.4 million with
51 social enterprises in 2024, 23% above our target for the year.
Social enterprise
engagement
Pictured: School children visiting a water treatment plant in Northland, NZ
51
VENTIA ANNUAL REPORT 2024 |
WINNER
Excellence in Business
Corporate Social
Responsibility Award 2024
2024 Northern Territory Business
Excellence Awards
Northern Territory Chamber
of Commerce
Awards and
Recognition
Ventia partners with Civik
In 2023, we launched a partnership with Civik, a social
enterprise that creates employment and training opportunities
for young people facing barriers to work, particularly First
Nations people and former refugees and asylum seekers.
Working with Civik, Ventia supports skilled workers through
targeted training and mentorships and we have integrated
seven workers into our operations.
Gerard is a Kenyan refugee who moved to Australia at the
age of 16. With a keen interest in construction, his job search
was initially hindered by his limited English skills. Gerard
joined the Civik program and was one of the first from Civik
to work with Ventia on our Telecommunications contract.
The Civik/Ventia partnership equips individuals like
Gerard with the skills and confidence needed for careers
in construction, engineering, and telecommunications.
In 2024 our partnership was recognised in The Faculty
Awards for Excellence and the ACCOMM Awards for Best
Diversity and Inclusion Program.
Case study:
WINNER
Awards for Excellence
‘Best Diversity and
Inclusion Program’
Ventia’s social enterprise
partnership with Civik
2024 ACCOMM Awards
ACCOMM
Awards and
Recognition

Stronger customers
and flourishing
communities
52
| STRONGER CUSTOMERS AND FLOURISHING COMMUNITIES
At the centre of our customer approach is the principle that our success depends on our customers’ success, which is
ultimately about helping them to achieve their goals. As we mature, our cross sector collaboration efforts remain key, as well as
understanding our customers' needs and requirements beyond the terms of a contract. By identifying requirements outside a
customer’s direct contract, we can leverage the breadth of capabilities across our sectors to deliver more comprehensive and
impactful solutions.
In 2024, we continued to embed and mature our customer segmentation and strategic account management approach,
deepening our understanding of our customer relationships and behaviours through our customer listening activities. This has
enabled us to better understand and serve our customers and identify future pipeline opportunities. Evidence of this progress
includes reaching a renewal rate of 91.9% in FY24 and increasing our cross-sell revenue by 24% to $115.8 million.
Through collaboration and better understanding our customers we have built robust and long-term relationships. Ventia has
been a strategic partner to the Australian Defence Force for over 35 years and we have provided a diverse range of services to
Telstra for 30 years. Our partnership with Transpower in New Zealand has evolved over 30 years in New Zealand. We have also
maintained and strengthened partnerships with many other public and private customers.
We differentiate ourselves by developing long-term
and strategic relationships with our customers through
building trust and delivering service excellence
Pictured: Contract launch of our Western Power contract, Perth, WA

Our portfolio of customers
is diversified
Revenue by client type
1
Public 75%
Private 25%
Public 75%
Private 25%
Revenue by contract profile
1
Schedule of rates 71%
Cost Reimbursable 20%
Fixed cost 9%
Schedule of rates 71%
Cost Reimbursable 20%
Fixed cost 9%
Revenue by escalation mechanism
1
Indexation 50%
Annual Review 19%
Cost Reimbursable 20%
Short term or panel arrangement
2
11%
Indexation 50%
Annual Review 19%
Cost Reimbursable 20%
Short term or panel arrangement
2
11%
Indexation 50%
Annual Review 19%
Cost Reimbursable 20%
Short term or panel arrangement
2
11%
Indexation 50%
Annual Review 19%
Cost Reimbursable 20%
Short term or panel arrangement
2
11%
53
VENTIA ANNUAL REPORT 2024 |
Longevity of client relationships
Relationship
(years)
SectorClient description
35+Defence & Social InfrastructureDefence agency
30+Infrastructure Ser vicesNZ electricity provider
30+TelecommunicationsMajor telecommunications agency
25+TransportGovernment road agency
25+Transport
Large toll road owner - motorways
and tunnels
20+Infrastructure Ser vices
Energy network operator and retailer
20+Defence & Social InfrastructureGovernment social housing provider
20+Infrastructure Ser vices
Government electricity transmission
and distribution
15+TransportGovernment road agency
15+TelecommunicationsMajor telecommunications agency
10+TelecommunicationsTelecommunications network owner
10+Infrastructure Ser vices
Leading natural gas producer
1. Revenue by client type, contract profile and escalation mechanism reflects HY24 Total Revenue.
2. Panel arrangements relate to specific projects that are short term and individually priced, taking
into account the prevailing market. conditions at the time of the tender.

Strengthening our 30-year strategic
partnership with Telstra
In 2024, Ventia signed a new five-year strategic
partnership with Telstra to optimise the delivery of design,
construct, and maintenance of Telstra’s critical digital
infrastructure. This new strategic partnership provides a
positive outcome for Telstra and Ventia.
Ventia has been providing services to Telstra for 30 years,
with a strong customer focus. This long-standing strategic
partnership is testament to Ventia’s commitment to
providing service excellence and supporting Telstra’s
strategic goals. The new partnership agreement
commences in 2025.
The contract covers nationwide lifecycle
management and fixed network services for Telstra’s
digital infrastructure facilities. By leveraging the
scale and reach of these assets, the partnership will
also cover the design and large-scale construction
of asset relocation and commercial works, as well as
network design and construction, including wideband,
optical fibre, data, and IP networks.
“

We are delighted to continue our valued
partnership with Ventia, leveraging their
extensive experience and knowledge in
infrastructure construction and maintenance
to help drive further operational efficiencies
across our extensive fixed network
site portfolio.
”
Brendon Riley,
Telstra InfraCo Chief Executive Officer
Case study – Telstra
54
| STRONGER CUSTOMERS AND FLOURISHING COMMUNITIES
Pictured: Installation of a new fibre optic cable across Sydney Harbour, as part of Telstra InfraCo's InterCity Fibre Network build, NSW

We have a long-standing relationship with Telstra
Relationship spanning 30 years demonstrates our position as a major delivery partner
Example Projects
2022
Intercity Fibre Network
Upgrade Telstra’s
Intercity Fibre Network
to support massive
data growth
2015
Mobile Site
Acquisition,
Environment and
Design (SAED)
and Site Make
Ready (SMR)
Sites Access
Design upgrade
and construction
of Telstra mobile
towers
1994-2014
Hybrid Fibre
Coaxial (HFC)
Design and
construct of
Telstra’s HFC
network nationally
2.8m+ premises to
deliver pay TV and
broadband
2000+
Network Integrity
& Facilities
Management
of Telstra’s assets
and emergency
power services
2008
Regional Optic Fibre /
Interexchange Network
Design and install fibre
for backhaul network
increasing network
capacity
2024
Telstra Strategic Field
Maintenance, Design
and Construction
contract
5-year strategic
partnership signed
with Ventia to
design, construct
and maintain critical
telecommunications
and power
infrastructure across
the Telstra network.
Work starts in 2025
2020
Telstra Field
Operations (TFO)
TFO contract
signed. New
commercial model
for the industry
1998 to current
Asset relocations
and Commercial
Works (ARCW)
Relocate
Telstra’s network
infrastructure
ensuring continuity
of service
2001+
Wideband
Connect >10k
high bandwidth
services to
Telstra Enterprise
customers per
annum
199419982000200120082015
partnership
30-year
contract
5 year
in total revenue
$2b
202020222024
55
VENTIA ANNUAL REPORT 2024 |
Pictured: TBC

Evolving our relationship with Transpower
Since 1992, Ventia has been a trusted partner to Transpower providing
services to the North and South Islands of New Zealand. Today, Ventia services
approximately 37 per cent of Transpower’s network.
Transpower owns and operates New Zealand’s National Grid, the high voltage
transmission network connecting electricity generation with cities, towns and
rural communities across the country.
Ventia’s workforce supports Transpower with everything from maintenance and
operations of its lines, towers and substations to capital works and protection
and testing, and commissioning critical infrastructure across the national grid.
Transpower’s network spans a wide variety of environments, including remote
mountainous terrain and dense urban environments, and work is undertaken in
a range of weather conditions. This requires complex and innovative techniques
to minimise or eliminate supply disruptions, while optimising operational
efficiencies and, above all else, making sure safety is the number one priority.
Our partnership with Transpower has evolved over the last 30 years by
developing our capabilities in line with emerging technical innovations,
environmental and sustainability shifts and emergency and incident
management response.
Case study – Transpower
Awards
Every two years Transpower holds
STAR Awards to recognise the people
who build, operate and maintain
the national grid - the people who help
keep the lights on for everyone in New
Zealand.
The STAR Awards – 'STAR’ stands for
‘Safety Thanks and Recognition’ and
recognises best practices in the field.
Ventia has had great success over
the years, achieving:
• 2023 Frontline Leadership Award
• 2023 STAR Supreme Award
• 2023 Team Safety Award – Protection
and automation improvements
• 2021 Safety Innovation Award
• 2021 Future of Safety Award
• 2021 Frontline Leadership Award
• 2021 Team Safety Award –
Rangitātā River Even Response
• 2016 Commitment to Safety Award –
Conductor Stringing Team
• 2014 Top Depot Award
• 2014 Apprentice of the Year Award
• 2012 Best Safety by Design
• 2012 Best Safety and Health
Leadership
of partnership
30 years
of high voltage transmission lines
11,238km
towers and poles
4 0,6 74
Key statistics
56
| STRONGER CUSTOMERS AND FLOURISHING COMMUNITIES
Pictured: Ventia crew reconductor
a section of the Roxburgh - Islington Transmission line, NZ
Pictured: Ventia crew completing repairs using helicopter on the south island of NZ

57
VENTIA ANNUAL REPORT 2024 |
Pictured: A Ventia crew member responds during heavy snow to undertake conductor repair works, NZ

Creating flourishing communities
through social value
Our Social Sustainability Strategy helps us to identify
and measure the impact we are having on our employees,
customers, and local communities. It also ensures we
structure and undertake activities that contribute to creating
flourishing communities across Australia and New Zealand.
Our strategy is operationalised through the adoption of our
Social Value Framework, which shapes the work we do across
our sectors and projects. Delivered through sector-specific
and project-level implementation plans, the framework makes
sure our activities align with our strategic objectives and local
community needs.
Highlights
in social value generated
in FY24 for communities
across Australia and
New Zealand
$3.9b
Community grants
provided in FY24
55
in community funding
provided to community
groups since 2011
$700k+
member organisations
of Australia and
New Zealand Social
Value taskforce
40
Health and
Wellbeing
Community
Engagement
Employment and
Skills
Fairness, Inclusion
and Respect
Social Procurement
Ensure wellbeing
and resilience in
our workforce and
communities
Prioritise what
matters most to our
communities
Deliver the skills
for the future
Ensure diverse and
local workforce
Engage diverse and
local supply chain
Support the physical
and mental health
and wellbeing of
our people and
communities.
Collaborate with
local stakeholders to
co-design initiatives
that prioritise the
outcomes that
matter most to our
communities.
Create opportunities
for future talent to
grow, thrive and
succeed through the
Ventia Academy.
Provide pathways
for locals from most
disadvantaged
areas and those
from priority groups
including women,
Indigenous people,
veterans and people
with disabilities.
Offer fair, responsible
procurement that
empowers local
small and medium
sized enterprises,
and Indigenous-
owned businesses to
engage in our supply
chain.
Social Value Framework
Our commitment to supporting
local communities
Our commitment to supporting local communities
across Australia and New Zealand helps ensure that
resources stay within the regions, empowering local
businesses, creating opportunities for local people,
and contributing to long-term community development.
This approach strengthens communities and
demonstrates our dedication to being a trusted partner
that invests in the people and places it serves.
58
| STRONGER CUSTOMERS AND FLOURISHING COMMUNITIES
Pictured: St Barbara’s Parish School library received new
library books through Ventia’s Community Grants program

Ventia supports literacy through
community grants program
Ventia has provided community funding to Dymocks
Children’s Charities’ Library Regeneration Program. The
program has provided new books to disadvantaged
children across schools in Australia since 2021.
St Barbara’s Parish School library received 200 new
library books in 2024 as part of the program.
Zoe Nelson-Carey, Corporate Partnerships Development
Manager for Dymocks Children’s Charities said their goal
is to promote a love of reading and improve literacy
outcomes for disadvantaged children across Australia.
"We believe all children should have access to good
books, regardless of their circumstances. Literacy levels
in Australia remain of concern, particularly amongst the
most vulnerable groups in society," she said.
"Thanks to Ventia's support, we have been able to deliver
more than 800 new books to disadvantaged children
across six schools across Australia with our Library
Regeneration Programs."
Measuring our social impact
To measure our social impact, we use the TOMs system
(Themes, Outcomes, and Measures), which has been
best practice in measuring social value in Europe for
over 10 years. We have integrated the TOMs system into
Ventia’s operations to quantify our social impact, with
a focus on key metrics such as local employment and
procurement spend.
In 2024, we continued to co-chair the Australia and New
Zealand (ANZ) Social Value Taskforce bringing together
over 40 of the largest employee organisations in Australia
across public, private and social sectors. We continue to
collaborate with the Taskforce and are currently developing
additional metrics. This Taskforce sets new standards for
measuring and enhancing social value across industries, its
comprehensive approach ensures that we can demonstrate
the value of our work to both local communities and
broader stakeholders.
We reported social value performance for a second
consecutive year in 2024. Independent validation is
conducted by Social Value Portal and calculated using
the TOMs system. This figure reflects contributions from
initiatives focused on local spend and employment in
Australia and New Zealand.
In 2024 our local employment was 91% (increased from
87% in 2023) and our local spend was 72% (decreased
from 73.5% in 2023). In total, we delivered an estimated
$3.9 billion in social value which was a 9% reduction from
the previous year, due to the slight reduction in local spend.
Overall, we generated a total of $8.2 billion of social value
over the past two years.
To ensure our sustainability efforts are informed by local
needs, we have partnered with Community Insights
Australia who provide a platform to access socio economic
data across different communities so that we can better
understand the issues they are facing. This partnership
allows us to conduct thorough local needs analyses,
which inform our project-level action plans to ensure our
projects are impactful and addressing the specific needs
of each locality.
Community Grants Program
Our Community Grants Program continued to
demonstrate its deep connection to local communities
in 2024, providing essential support to projects that
bring real value to people’s lives. We received a range of
applications from community groups across Australia in
2024. Our local Steering Committees applied their regional
knowledge to assess these applications and 55 community
groups received over $100,000 in funding in 2024.
The total amount provided by the program to
communities over Australia and New Zealand reached
over $720,000, benefiting 428 community groups since its
inception in 2011.
WINNER
Community
Contribution Award
Ventia’s Social Sustainability
Framework
ABA100® Business
Excellence Awards
Australian Business Awards
FINALIST
Industry Impact –
Private Sector
Social Sustainability Framework
2024 Annual Gala Awards
Infrastructure Sustainability
Council (ISC)
Awards and
Recognition
Case study:
59
VENTIA ANNUAL REPORT 2024 |

Pictured: Members of our water team at a wastewater treatment plant, Rocklea Qld
Sustainable
financial
growth
Contents
Operating and Financial Review 61
1. Operating model and business strategy 61
2. Statutory financial performance 61
3. Sector financial performance 64
4. Financial position 68
5. Outlook 69
6. Risk management 70
7. Climate-related risks and opportunities 74
60
| S USTAINABLE FINANCIAL GROWTH

61
VENTIA ANNUAL REPORT 2024 |
Ventia Services Group Limited (Ventia or Company) and its controlled entities (together referred to as the Group) is a leading
essential infrastructure services provider in Australia and New Zealand.
1. Operating model and business strategy
Ventia has extensive capabilities across the full asset lifecycle and provides services across a diverse range of industry sectors
through long-term contracts with a range of government agencies and blue-chip organisations.
Ventia is structured across four sectors:
• Defence and Social Infrastructure;
• Infrastructure Ser vices;
• Telecommunications; and
• Transport.
Ventia’s strategy is Redefining Service Excellence and is centred on three priorities: client focus, innovation and sustainability.
Ventia has identified three key drivers of increasing its market share:
• Renewing and growing existing contracts;
• Winning new work; and
• Cross-selling our expert capabilities.
2. Statutory financial performance
2.1 Statutory Group financial highlights
2024
$’m
2023
$’m
Change
$’m
Change
%
Revenue6,105.55,676.4429.17.6%
Profit after income tax220.2189.830.416.0%
2024
cents per
share
2023
cents per
share
Change
cents per
share
Change
%
Basic earnings per share25.7422.193.5516.0%
Other measures
(i)
2024
$’m
2023
$’m
Change
$’m
Change
%
EBITDA 499.3465.234.17.3%
NPATA2 27. 9202.125.812.8%
Operating cash flow before interest and tax456.2412.943.310.5%
Operating cash flow conversion %
(ii)
91.4%88.8%n/a2.6pp
Work in hand19,353.618,138.41,215.26.7%
(i) Other measures are non-International Financial Reporting Standards (IFRS) measures that have been derived from statutory information.
(ii) Calculated as Operating cash flow before interest and tax divided by EBITDA.
EBITDA – Earnings before interest, tax, depreciation and amortisation.
NPATA – Net profit after tax excluding the after tax impact of amortisation of acquired intangible assets.
Operating and Financial Review

2.2 Statutory Group financial performance
2024
$’m
2023
$’m
Change
$’m
Change
%
Revenue6,105.55,676.4429.17.6%
Expenses(5,609.3)(5,214.8)(394.5)7.6%
Share of profits of joint ventures3.13.6(0.5)(13.9%)
Earnings before interest, income tax, depreciation and amortisation499.3465.234.17.3%
Depreciation expense(105.6)(106.6)1.0(0.9%)
Amortisation expense(33.0)(39.1)6.1(15.6%)
Earnings before interest and income tax360.7319.541.212.9%
Finance costs(58.8)(55.6)(3.2)5.8%
Interest income11.16.24.979.0%
Profit before income tax 313.0270.142.915.9%
Income tax expense(92.8)(80.3)(12.5)15.6%
Profit after income tax 220.2189.830.416.0%
Amortisation of acquired intangible assets (after tax)7.712.3(4.6)(37.4%)
NPATA2 27. 9202.125.812.8%
Revenue
Ventia reported an increase in revenue of $429.1 million, or 7.6%, to $6,105.5 million in FY24. The growth was driven by the strong
performance in the Defence and Social Infrastructure and Telecommunications sectors, as a result of increase in work volume and
contribution from contracts commencing in the second half of 2023, and during 2024.
Section 3 provides further commentary on sector performance.
EBITDA
EBITDA increased by $34.1 million, or 7.3%, to $499.3 million in FY24. The movement was driven primarily by the increase in
revenue. The Group maintained a stable EBITDA margin at 8.2% (FY23: 8.2%).
Depreciation expense
There was no significant change in depreciation expense compared to FY23.
Amortisation expense
Amortisation expense decreased by $6.1 million, or 15.6%, to $33.0 million in FY24, as a portion of acquired customer contracts
and relationships became fully amortised.
Finance costs and interest income
Finance costs increased by $3.2 million, or 5.8%, to $58.8 million in FY24. The movement was due to an increase in interest
expense on the Group’s syndicated loan facilities as a result of a higher average Bank Bill Swap Bid Rate (BBSY) in 2024. The Group
partially hedges its interest risk exposure by entering into interest rate swap arrangements.
The Group refinanced its loan facilities in November 2024. Refer to Section 4.1.
Interest income increased by $4.9 million, or 79.0%, to $11.1 million in FY24 due to higher cash balances held during the year.
Income tax expense
Income tax expense was $92.8 million for FY24, representing an effective tax rate of 29.6% (FY23: 29.7%).

62
| SUSTAINABLE FINANCIAL GROWTH