Chorus half year result

• Fibre momentum underpins long-term value accretion
• Progressing transition to an all-fibre business
• Strong capital discipline and a more balanced financial profile

Chorus today reported a robust financial performance for the six months ended 31 December 2025 (HY26), underpinned by continued fibre growth, efficiency and simplicity gains, and strong capital discipline as it transitions to an all-fibre network operator. CEO Mark Aue said Chorus' ability to deliver this result amidst a challenging economic backdrop and constrained consumer spending underlined the strength of its fibre-led strategy. Solid net customer uptake for fibre during the half continued, with total fibre connections increasing by approximately 31,000 to 1.13 million, representing 95% of total fixed connections. Fibre uptake reached 72.4% of serviceable addresses outside local fibre company areas. Fibre broadband revenue increased 7% to $387 million, supported by ongoing connection growth and pricing changes. Chorus continued to simplify its network and operating model in line with ongoing decline of copper connections during the half. Operating expenses were $5 million lower than the prior corresponding period, reflecting lower labour costs, reduced consulting spend and savings from changes to the operating model. Gross capital expenditure reduced to $158 million, down $41 million from the prior period, driven in part by lifecycle planning and project timing shifts into the second half of the financial year.

Chorus' FY26 EBITDA guidance range remains unchanged, at between $710 million to $730 million and is tracking to the upper half of the range. The expected FY26 dividend of 60 cents per share unimputed remains unchanged, subject to no material adverse changes in circumstance or outlook.

Demand for reliable, high-quality connectivity remains strong, and fibre is increasingly recognised as essential infrastructure for households, businesses and communities. Chorus' focus this horizon is on maximising the value of its fibre network, while continuing to support customers as their data needs grow.