AGMs

7 questions at 2022 Qube AGM


November 29, 2022

Here is the text of the 7 questions asked at the 2022 Qube hybrid AGM held on November 24.

1. Did any of the 5 main proxy advisers - ACSI, Ownership Matters, Glass Lewis, ISS and ASA - recommend a vote against any of today's resolutions, including the re-election of the chair? If , what was the issue? Have there been any material proxy protest vote? Also, why not disclose the proxies to the ASX with the formal addresses like others now do?

2. Is the chair planning to serve a full 3 year term and does he intend this to be his final term on the board. Also, does the chair believe that his successor is currently serving on the Qube board?

3. Are we concerned about the proposed changes to the Federal industrial relations law which are currently before the Senate? Also, has the recent lock-out of MUA members by Danish tug boats giant Svitzer had any impact on our operations? Finally, does our recent 4 year enterprise agreement with the MUA de-risk the likelihood of strike action on the docks and supply chain disruption?

4. The ASA Voting Intentions report says the following: "Qube's foundation lies in a consortium in which the Digney family played a significant part. As a consequence, Qube has 3 Digney brothers in senior roles – Paul Digney as newly appointed CEO, John Digney as Director, Logistics and Infrastructure and David Digney as Director Logistics Operations." This is an usual situation. For those of us unfamiliar with the history, could Paul please spell out the family's history with Qube and also summarise the scale of ownership interest the family has in the company.

5. Could the CEO summarise his past LTI grants as to whether they have vested or lapsed. Also, has he ever sold any ordinary shares in the company or bought any on market without relying on an incentive scheme to build his equity position in the company? Please don't say look it up in the annual report and through ASX announcements. It's complicated over many years and the CEO could factually summarise the situation in 30 seconds.

6. Could new director Lindsay Ward and the chair comment on the recruitment process that led to his appointment to the board. Was a head hunter involved, did the full board interview Lindsay and did they interview any other candidates? Did Lindsay know any of our directors before engaging with the recruitment process?

7. Given the interesting discussions across a range of topics today, including this final resolution on financial assistance, could the chair undertake to make an archived copy of the webcast plus a full transcript of proceedings available on the company's website? The likes of Nine, AGL, ASX, ANZ, Domino's and Lend Lease all produced their 1st AGM transcripts in 2021. Will you follow suit today? This is something IAG has been doing since 2003.