APA delivers strong FY25 earnings

• Underlying EBITDA towards top end of guidance, up 6.4% to $2,015 million
• Ongoing progress on comprehensive, enterprise-wide cost reduction initiatives
• $655 million of capital investment in growth projects for FY25

APA Group (ASX:APA) today announces its financial results for the year ended 30 June 2025, delivering a strong earnings performance towards the top end of guidance, robust asset performance across the portfolio and momentum with growth projects. The result was underpinned by a strong performance from APA's gas transmission and storage business, a full year contribution from the Pilbara Energy System (PES) business, contributions from newly commissioned assets, inflation-linked tariff escalation and improved underlying EBITDA margins reflecting robust asset performance and targeted cost reduction initiatives. Key highlights include: Underlying EBITDA towards top end of guidance, up 6.4% to $2,015 million; Total statutory revenue (excluding pass-through revenue) up 4.7% to $2,713 million; Underlying EBITDA margins increased to 74.2%, reflecting strong asset performance and cost reduction initiatives; Ongoing progress on comprehensive, enterprise-wide cost reduction initiatives, delivering corporate cost growth below inflation and an FY26 cost-out target of approximately $50 million; Free Cash Flow of $1,083 million, marginally higher than the prior year; Statutory net profit after tax of $129 million, which is lower than the prior period, but 8.4% higher excluding significant items; FY25 distribution of 57.0 cents per security, up 1.8%; FY26 distribution guidance of 58.0 cps, up 1.0 cps on FY25; Underlying EBITDA guidance for FY26 of $2,120 million - $2,200 million, representing growth at the mid point of 7.2% on FY25; $655 million of capital investment in growth projects for FY25; and Organic growth development pipeline increased to ~$2.1 billion, to be funded from the existing balance sheet and Distribution Reinvestment Plan.

Underlying EBITDA guidance for FY26 of $2,120 million - $2,200 million, representing growth at the mid point of 7.2% on FY25.

APA's growth momentum is supported by its East Coast Gas Grid Expansion Plan, early works in the Beetaloo, opportunities in gas-powered generation and ongoing growth in remote power generation in the Pilbara, demonstrating how the company expects its core business will underpin its growth for years to come.