FY24 Results - Presentation

Dean Banks: Chief Executive Officer
Mark Fleming: Chief Financial Officer
FY24 Results
Presentation
Pictured: Ventia drone pilot in training, Brisbane, QLD

Acknowledgement of Country and Mihi
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 andpresent.
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 Mana Whenua.
We recognise and celebrate the culture of manawhenua in Aotearoa and
Te Waipounamu where our teams respect local Iwi and communities
across the country.
2
Pictured: Young man from Wesley College’s Moorditj Mob Program perform a dance ceremony at the Western Power contract launch

Safety – Driving is Ventia’s highest critical risk
Telematics and bespoke training programs have contributed to a 65% reduction in vehicle incidents since 2021
3
Total Ventia drivers
5,114
17% Increase in FY24
4-5 Stars Drivers
58%
Increase in FY24
Kilometres driven
81M
20% Increase in FY24
Telematics installed in
92%
Of Ventia vehicles
High potential vehicle events
100%
Reduction in FY24
Infringements
29%
Reduction in FY24
Pictured: SKAO team travelling to site in Murchison WA, post-installation of the first antenna, a milestone in the build of the world’s largest telescope
3

Another year of consistent financial outperformance
4
z
Delivering on expectations
NPATA growth
12.8%
Delivered3-year CAGR of 15.8%
Cash conversion
91.4%
Up 6.5pp since FY21
Delivering for shareholders
Final dividend declared
10.63cps
Increased 12.8% on final dividend FY23
On market buy back announced, up to
$100m
Returning capital to investors
Realising sustainable growth
Renewal rate
91.9%
Up from 87% in FY23
Work in Hand
$19.4b
Up 15.4% since FY21
FY25 guidance – NPATA growth of 7-10%
(excluding the one-off positive impact of the Toowoomba transaction)

Delivering NPATA growth of 12.8%
FY24 statutory financials as at 31 December 2024
5
Strong FY24 financial results
Total Revenue
$6,105.5m
Increase of 7.6% on FY23
EBITDA Margin
8.2%
Inline with FY23
Cash conversion ratio
91.4%
Increase of 2.6pp on FY23
EBITDA
$499.3m
Increase of 7.3% on FY23
NPATA
$227.9m
Increase of 12.8% on FY23
Work in Hand
$19.4b
Increase of 6.7% on FY23
Pictured: Member of our Transport team inspecting a boat ramp for Port of Brisbane, QLD

Work in hand $19.4 billion as at 31 December 2024, up 6.7% on FY23
6
Significant contracts awarded in growth markets
Renewals and extensions New awards
Western Power Distribution
Infrastructure Services
5 year term
$178 million revenue
Seqwater
Infrastructure Services
4 year term
$220 million revenue
Homes NSW
Defence and Social Infrastructure
5 year term
$570 million revenue
Option up to 5 years
nbn – On-demand Module x 3
Telecommunications
3 year term
Combined $300 million revenue
Australia Defence Force – Firefighting
Defence and Social Infrastructure
6 year term
$564 million revenue
Option up to 4 years
Telstra
Telecommunications
5 year term
$2,000 million revenue

Snapshot
Ventia and Telstra have
entered into a major
expansion of their long-
standing strategic
partnership with a five-
year agreement to
optimise the delivery of
design, build and
maintenance of Telstra’s
critical digital
infrastructure
commencing in 2025.
Expansion of strategic relationship with Telstra
Lifecycle
management and
fixed network services
7
Nationwide fixed
network services,
facilities design & build
and Telepower for
Telstra’s digital
infrastructure facilities
Scaled
network build
Large-scale asset
relocation and
commercial works,
network design & build
for wideband, optical
fibre, data, and IP
networks
Supporting critical digital infrastructure
CONTRACT VALUE
OVER FIVE YEARS
~$2 billion
Working with
Building on Ventia’s 30-year trusted partnership with Telstra
DIGITAL INFRASTRUCTURE
ASSETS MANAGED
1.5m

AI trials running to
improve accuracy and
efficiency
Delivering on our strategic objectives in FY24
8
Defence Base Contractor of the Year, awarded
Nov 2024
+91.9%
Renewal rate
new contracts won 2024
$1.5 billion
existing contracts renewed
$3.9 billion
30
new customers
$115.8m
cross sell revenue
16
account plans
11.4%
reduction in market-based
Scope 1 & 2 emissions
1

390
combustion engine cars
retired since 2021
Increased GreenPower across our portfolio,
saving 2,841t Co2-e since 2021
SustainabilityInnovationCustomer Focus
Our strategy is to redefine service excellence
VenSights views
in 2024
3x
Generative AI views
1600
300,000
ABA100 Business Awards Business Innovation
Award 2024
1. Scope 3 emissions have increased 12.6% in 2024,
due to the increase in purchased goods and services
Social Procurement Impact Partnership of the
Year – Muru Mittigar – Ventia & Transurban
$3.9bn of Social Value in 2024
3M+
Drone images captured
across 600+ missions

z
ACCC proceedings
Ventia intends to defend the recent ACCC allegations

Based on the information available to date, we do not believe there has been any misconduct by Ventia or any of its employees.
We are continuing to provide the appropriate support to our employees who are impacted by this process.
Ventia is committed to ethical business practices and seeks to uphold the highest standards of governance and risk
management.
Ventia is not aware of any information in relation to the proceedings that warrants any change to our financial forecasts.
9
Pictured:

Ventia delivers On-Demand Module telecommunications services in Brisbane, QLD, and across Australia
10
Financial
Results

FY21FY22FY23FY24
Total Revenue ($m)
Consistent track record of strong financial performance
11
EBITDA and Margin ($m/%)
4,557.4
5,167.5
5,676.4
6,105.5
FY21FY22FY23FY24
EBITDA growth
maintaining consistent margin
7.3%
EBITDA performance largely
driven by D&SI and
Telecommunications
8.2%
NPATA growth demonstrates
robust operational leverage
7.6%
FY24 Revenue grew largely due
to the strong growth in Telco
and D&SI
Revenue growth continues,
solid track record since FY21
Up since FY21
34%
NPATA
1
($m)
146.8
179.6
202.1
227.9
FY21FY22FY23FY24
379.9
419.8
465.2
499.3
Up since FY21
55%
NPATA grew in FY24 due to
business performance,
lower amortisation and
higher interest income
12.8%
8.2%
8.1%
8.3%
Up since FY21
31%
1. There will be a one-off profit from the divestment of Toowoomba Second Range Crossing in 2025, which has been excluded from guidance .

Financial performance illustrates robust cash conversion
12
FY24 result
$ millionsFY24FY23Delta
Total revenue6,105.55,676.47.6%
Total expense(5,609.3)(5,214.8)7.6%
Share of JV profits 3.1
3.6
(13.9%)
EBITDA499.3
465.2
7.3%
Changes in net working capital and other
non-cash items
(43.1)
(52.3)
(17.6%)
Operating cash flow
1
456.2412.910.5%
Operating cash flow conversion
2
91.4%88.8%2.6pp
Lease payments(59.0)(62.2)(5.1%)
Net Capital Expenditure(67.4)(44.7)50.8%
Acquisition(11.9)-n/a
Cash flow before financing and tax317.9306.03.9%
Net financing cash flows(45.8)(48.8)(6.1%)
Free cash flow before tax and dividends272.1257.25.8%
1. Operating cash flow represents EBITDA plus any non-cash share payments, after changes in net working capital.
2. Operating cash flow divided by EBITDA expressed as a percentage.
Net Finance costs
Net finance costs have decreased due to the higher cash
balance
EBITDA
Contract revenue escalations and contract growth have
driven solid performance and provided inflation protection
Cash flow conversion
Cash conversion improved due to a strong focus on invoicing
and cash collection
Net capital expenditure
Net Capital Expenditure increased due to investment in our
core business, including plant and machinery to support
contract wins in the Infrastructure Services and
Telecommunications sectors, and leasehold improvements
for new offices. Capital expenditure in FY24 was 1.1% of
revenue

Performance demonstrates the benefit of a diversified portfolio
13
Defence & Social
Infrastructure
Infrastructure
Services
TelecommunicationsTransport
Revenue
$2.6b ▲ 9.4%
EBITDA
$180.6m ▲ 12.6%
Margin
7.0% ▲ 0.2 pp
Work in Hand
$5.7b
•Performance driven by contract growth,
contract wins and efficiency programs
•Existing contracts with the Australian
Defence Force for Firefighting Services
and Homes NSW have been renewed
Revenue
$1.3b ▲ 0.8%
EBITDA
$109.9m ▼ 4.9%
Margin
8.3% ▼ 0.6 pp
Work in Hand
$4.7b
Revenue
$1.6b ▲ 14.6%
EBITDA
$199.6m ▲ 15.3%
Margin
12.7% ▲ 0.1 pp
Work in Hand
$4.0b
Revenue
$632.4m ▼ 0.7%
EBITDA
$46.3m ▲ 2.7%
Margin
7.3% ▲ 0.2 pp
Work in Hand
$5.0b
•Stronger volumes across Energy, Water and
Renewables (EWR) offset by reductions in
Resources and Industrials
•Contract awards including Western Power
and Seqwater support 2025 growth profile
in EWR
•Build volumes accelerated in the year and
remained at strong levels in the second half
of 2024
•Material contracts were awarded over the
year including strategic Telstra 5 year
contract, three NBN Co. ODM contracts and
the contract renewals for NBN Unify
•Revenue was impacted by operational and
contract award delays impacting delivery
timing
•Contract awards; Torrens to Darlington
project, minor capital works for CityLink and
the renewal of NZ Far North District Council
road maintenance contract
Key driversKey driversKey driversKey drivers

Funding mix has been diversified and lengthened
14
1. Calculated as Net Debt/bank adjusted EBITDA.
2. Calculated as bank adjusted EBITDA/Interest Expense
31 December 2024 metrics ($m)
Cash on hand392.8
Undrawn revolver400.0
Total liquidity792.8
Term loan and revolver 750.0
Lease liabilities143.8
Total debt893.8
Net debt501.0
Total debt facilities1,150.0
Credit ratingS&P: BBB (stable outlook)
Moody’s: Baa2 (stable outlook)
CovenantsLeverage Ratio
1
≤3.25x
(1.0x as at 31 December 24)
Interest Cover Ratio
2
≥4x
(11.2x as at 31 December 24)
250250250
400
0
100
200
300
400
500
2025202620272028202920302031
$ millions
Debt Maturity Profile
Asian Term LoanRevolver (drawn)
Revolver (undrawn)
•Asian Term Loan and Revolving
facilities transactions were finalised
in November 2024
•Lender base diversified with Asian
Term Loan
•Weighted average debt maturity
increased from 1.9 to 4.9 years
•Weighted average margin has
improved
•Improvement in key terms
•Increased flexibility with move to
syndicated revolvers from term loans
Debt refinancing summary:

Returning capital to shareholders
15
On Market buyback announced, up to
$100m
Leverage to remain within the
target range of
1.0-2.0x Net Debt/EBITDA
To be purchased over 2025
1. Interim dividend paid and final dividend declared, final dividend to be paid 7 April 2025
Final dividend declared of 10.63cps, payout target of 75% NPATA
Final dividend for FY24
increased 12.8% on 2023
10.63cps
Policy to payout
60-80%of NPATA
Total FY24 dividend
increased 12.8% on 2023
19.98cps
Dividends partially franked
80% FRANKED
15.75
17.72
19.98
0
5
10
15
20
FY22FY23FY24
Paid
Paid
Cents per share (cps)

z
Delivering against capital allocation framework
16
Invest to grow
core business
Maximise total
shareholder returns
Maintain financial
strength and flexibility
Cash generation:
Cash conversion
delivered
91.4%
Strong credit profile:
Net debt / EBITDA at the
bottom of target range
1.0x
Organic growth (Revenue):
Capex of $67.4m,
1.1% of revenue
7.6%
Purchase price for
Landscape Solutions
1

Bolt-on acquisitions:
$13.4m
Sustainable distributions:
Declared a Total Dividend
of 19.98 cps, sustainably
growing
75%
Buyback announced
for 2025, market
conditions permitting
Capital management, up to:
$100m
1. An additional contingent consideration of $3.1m will be payable subject to a number of conditions.

Pictured: Members of our energy networks team, Rocklea QLD
17
Outlook

Addressable market opportunity underpins future growth ambition
27.1
28.4
29.5
30.9
10.9
11.5
11.9
12.0
36.7
39.9
43.2
47.2
8.7
9.2
9.9
10.3
83.4
88.9
94.4
100.4
FY25FY26FY27FY28
Defence and Social InfrastructureTelcoInfrastructure ServicesTransport
Outsourced Maintenance Services addressable market size
Australia & New Zealand ($b)
1
1. Oxford Economics (2024) Refers to the financial years ended 30 June. Numbers presented in current price (nominal value).
Opportunity pipeline across existing and new markets
>1%
by Aust Fed Govt to fund clean
energy projects
4

$120b
Aust Fed Govt infrastructure
spend pipeline to 2034
1

$45b
Growth over the last 10 years
3
,

predicted to be at 59% by 2028
+9%
1. 2023-24 Australian Federal Government budget
2. Australian Government's 2024 Population Statement
3. Oxford Economic forecasts 2024
4. 2024-25 Australia federal budget

Large and growing asset base
Population growth
OutsourcingEnergy transition & digitalisation
annually
2
18

19
Redefining Service Excellence
The Ventia Difference
1. Environment, Social and Governance
Customer focus:
•Building deep, long-term strategic
partnerships
•High contract renewal rates driving
future growth
Scale & national platform:
•Mobilising 35,000+ qualified workforce
across Australia and New Zealand
•Delivering local presence across
40%+ of regional and remote areas
Innovation:
•Leveraging data infrastructure
as a competitive advantage
•Driving performance through
enterprise-wide Vensights platform
Governance & expertise:
•Maintaining robust governance
through gated lifecycle management
•Delivering solutions through deep
technical capabilities
Focus on safety excellence:
•Our people’s safety is our license to operate
•Market-leading safety programs recognised
by both customers and industry
Sustainability:
•Delivering environmental and social
outcomes for lasting community impact
•Partnering with our customers for
net zero solutions

Our key priorities for 2025
20
Delivering on
expectations
Continued strong cash generation:
>90%
Guidance for NPATA growth:
7-10%
Realising
sustainable growth
Sustainable financial growth:
+90% renewal rate
Growing Work in Hand to:
>$20b
z
Creating long term value
for shareholders
Dividends of:
60-80% of NPATA
Executing on-market buyback of up to:
$100m
FY25 guidance – NPATA growth of 7-10%
(excluding the one-off positive impact of the Toowoomba transaction)

21
Disclaimer
This presentation is in summary form and
is not necessarily complete. It should be
read together with the Company’s Full
Year Report 2024 lodged with the ASX
on 19 February 2025.
Pictured: Member of our Transport New Zealand team on the road to do recovery
works after the February floods in New Zealand, 2023
This presentation contains information that is based on projected and/or estimated
expectations, assumptions or outcomes. While these forward-looking statements reflect
Ventia’s expectations as at the date of this presentation, 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.
While Ventia has prepared this information based on its current knowledge and
understanding and in good faith, there are risks and uncertainties involved which could
cause results to differ from projections. Subject to disclosure obligations under the
applicable law and ASX listing rules, Ventia:
•makes no representation, assurance or guarantee as to the correctness and/or accuracy
of the information, nor any differences between the information provided and actual
outcomes, and reserves the right to change its projections from time to time; and
•undertakes no obligation to update any forward-looking statement to reflect events or
circumstances after the date of this presentation.
This document is not intended to be relied upon as advice to investors or potential
investors and does not take into account the investment objectives, financial situation or
needs of any particular investor.

Pictured: Member of our firefighting & rescue services team, Oakey, QLD
22
Q&A

High-quality Work in Hand of $19.4b
63.0
93.2
115.8
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
FY22FY23FY24
11.4
3.6
4.3
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
FY25 - FY27FY28 + FY29FY30+
16.8
17.9
18.1
19.4
$14.0
$15.0
$16.0
$17.0
$18.0
$19.0
$20.0
FY21FY22FY23FY24
Work in Hand ($b) up 6.7%
1
on FY23
Work in Hand profile
1
($b)
Cross Sell up 24% on FY23($m)
1. Difference in calculation due to rounding
23

75%
25%
Diversified portfolio
24
Pictured: Defence Clothing Store, Edinburgh
Defence Base, South Australia
50%
19%
20%
11%
71%
20%
9%
Revenue by
contract profile
1
Revenue by
escalation
mechanism
1
Fixed price
Cost Reimbursable
Schedule of rates
Short term or
panel arrangement
2
Cost Reimbursable
Annual Review
Indexation
Private
Public
1. Revenue by customer type, contract profile and escalation mechanism reflects FY24 Total Revenue
2. Panel arrangements relate to specific projects that are short term and individually priced,taking into accountthe prevailing market. conditions
at the time of the tender
Revenue by
customer type
1
24

54%
33%
13%
92%
8%
52%
24%
24%
43%
24%
16%
7%
10%
25
Diversified and resilient portfolio provides consistent financial performance
Sectors split by end market
Telecommunications Transport
Technical Solutions
Operations and maintenance
Defence and Social
Infrastructure
Infrastructure
Services
Local Government
Community and Housing
Social Infrastructure
Defence
Critical Infrastructure
Wireless
Operations and Services
Fixed Networks
Rig and Well Services
Resources, Industrial Services
and Environment
Energy, Water, and Renewables

Covenant ratios, provide material headroom
26
1. Calculated as Net Debt/bank adjusted EBITDA.
2. Calculated as EBITDA / Bank adjusted Net Interest Expense
1.8
1.4
1.2
1.0
0
1
2
3
FY21FY22FY23FY24
12.6
12.4
10
11.2
0
2
4
6
8
10
12
14
FY21FY22FY23FY24
Headroom
to covenant
Headroom
to covenant
Leverage Ratio
1
continues to improve as EBITDA growsInterest Cover Ratio
2
nearly 3x covenant

Statutory NPATA
27
$ millionsFY24FY23Delta
Revenue6,105.55,676.47.6%
Expense(5,609.3)(5,214.8)7.6%
Share of JV profits 3.1
3.6
(13.9%)
EBITDA499.3
465.2
7.3%
Depreciation expense (105.6)
(106.6)
(0.9%)
Amortisation expense (33.0)
(39.1)
(15.6%)
Earnings before interest and income tax360.7
319.5
12.9%
Net finance costs (47.7)(49.4)(3.4%)
Profit before income tax 313.0270.115.9%
Income tax expense(92.8)(80.3)15.6%
Profit after income tax220.2189.816.0%
Amortisation of acquired intangible assets
(after tax)
7.712.3(37.4%)
Net Profit after Tax and Amortisation227.9202.112.8%
Earnings per share (cps)25.7422.1916.0%
Amortisation of acquired intangible assets
Post tax amortisation. These contracts will be fully amortised
by end of 2025
Amortisation expense
Reduced by $6.1m as a portion of acquired customer
contracts become fully amortised
Net finance costs
Net finance costs decreased by $1.7 million,due to higher
interest income generated on higher cash balances held
during the year. This was partially offset by an increase in
interest expense due to higher interest rates in 2024
Depreciation expense
There was no significant change in depreciation expense
compared to FY23
Earnings per share
Basic earnings per share is profit after income tax divided by
undiluted shares on issue. There was no change to shares on
issue during the year

Thank you