• Safety performance improved with Actual and Potential Serious Injury and Fatality Frequency Rate up 29%
• EBITDA down 4% to $814 million, with Network and Coal businesses performing solidly
• Interim dividend of 9.2 cents per share, 60% franked

Aurizon today reported Group EBITDA of $814 million for the half year ended 31 December 2024, down 4% against the prior comparable period (1HFY2024 of $847 million) primarily due to a decrease in Bulk EBITDA, which was partially offset by an increase in Network EBITDA. Network EBITDA increased $9 million to $495 million in 1HFY2025, driven by an uplift in the Maximum Allowable Revenue, partly offset by a reduction in external construction works and higher maintenance costs. Coal EBITDA decreased $19 million to $264 million with coal volumes up 6% and contract rate indexation more than offset by the impact of customer mix (lower yield) and higher operating costs. Bulk EBITDA decreased $28 million to $84 million with new contract growth (including Northern Iron and Gold Valley) more than offset by lower grain railings, the cessation of a rail maintenance contract, a derailment in Western Australia, and an increase in doubtful debt provisions. The Aurizon Board has declared an interim dividend payment of 9.2 cents per share, 60% franked, which is 80% of Underlying Net Profit After Tax. In terms of safety, Aurizon's Total Recordable Injury Frequency Rate (TRIFR) deteriorated by 9%, while the Actual and Potential Serious Injury and Fatality Frequency Rate (SIFR(a+p)) improved by 29%. Tragically, an Aurizon locomotive driver, Troy Ernst, was killed in a road vehicle accident on the New England Highway in the Hunter Valley, NSW.

Group Underlying EBITDA range $1,660m - $1,740m, Sustaining capex range $640m - $680m (including ~$80m of transformation capital), Growth capex range $125m - $175m. Network EBITDA expected to be higher than FY2024, Coal EBITDA expected to be broadly consistent with FY2024, and Bulk EBITDA now expected to be lower than FY2024.

Aurizon is working to implement cost and fleet optimisation opportunities in the Bulk business, assess the non-operational cost base, and review the Group's capital and Network ownership structures. The company is also focused on capital deployment in Network, the Central corridor, and the extension of the on-market buy-back.