Hamish McLennan

Good morning, ladies and gentlemen, and welcome to the Annual General Meeting of ARN Media Limited. On behalf of the Board, I begin today by acknowledging the traditional custodians of the land on which we meet, and the continuing connection to land, seas, sky and community. Today, I'm on Gadigal land, part of the Eora Nation, and I pay my respects to their Elders past and present and emerging, and extend that respect to all Aboriginal and Torres Strait Islander peoples.

My name is Hamish McLennan, and with me in the room my fellow directors, Belinda Rowe; Paul Connolly; Alison Cameron and Brent Cubis. Also joining us are our CEO, Michael Stephenson; and our CFO, Alexis Poole; Company Secretary, Jeremy Child; and our Auditor from EY, Graham Leonard.

I am informed that there is a quorum present and accordingly declare the meeting open.

As Chair of ARN Media, it is my privilege to address the shareholders at the close of a year of significant transformation. Amid rapid disruption across the global media sector, the Board and the management act decisively to reshape the company, sharpen our strategic focus and position ARN for the next phase of its journey. The media industry is undergoing a profound technological and cultural shift, advances in data, automation, AI, and digital distribution are reshaping how audience engage with content and how advertisers connect with them in an increasingly digital world. Despite the pace of change, broader macroeconomic headwinds and ongoing softness in the advertising market, the Board is encouraged by the progress we've made against the company's strategic priorities. In 2025, the company strengthened its focus on