• Vocus Transaction completed, delivering $4.7 billion in net cash proceeds
• Up to $3 billion capital return to shareholders via pro rata Capital Reduction
• Up to $688 million Reinvestment Plan to increase minority ownership

TPG Telecom has announced a comprehensive capital management plan following the completion of the Vocus Transaction on 31 July 2025. The plan includes a pro rata Capital Reduction of up to $3 billion, providing a cash distribution of up to $1.61 per share to all shareholders. Additionally, TPG is offering a Reinvestment Plan of up to $688 million, which will allow minority shareholders to increase their ownership in the company. The capital management initiatives are designed to reward all shareholders and rebalance the share register to increase the free float percentage to approximately 30%. TPG is also targeting the repayment of up to $2.4 billion of bank debt, which will result in a pro forma financial leverage of approximately 1.3 times (pre-AASB16 basis) and a confident financial position that is expected to be deemed 'investment grade'. The company's dividend policy remains unchanged, with a target of 18 cents per share in FY25, growing over time with profit and cash flow.

TPG Telecom's Pro Forma FY25 guidance indicates strong year-on-year performance, with EBITDA (guidance basis) expected to increase by 6.1% to $1.6 billion.