4 questions lodged at 2025 Heartland hybrid AGM

Q1. How many full time equivalent staff do we currently have and is this likely to fall over the coming 12 months with the rapid roll out of AI? Which parts of our business and operations are the most prospective for AI productivity gains and how energetically are we embracing those opportunities?

Q2. An AGM with the only item of business being the approval of the auditor fees is pretty boring. Why aren't any directors up for election & why didn't we put up a remuneration report for a non-binding advisory vote, complying with the legal system in Australia. Seeing as we are making such a big push into Australia, shouldn't we embrace their Governance standards? If not, don't we risk New Zealand being viewed by international investors as a governance backwater given that rem report voting has become standard in many countries?

Q3. When did we last put the external audit out to tender and when are we next most likely to run a full competitive tender for the external audit job?

Q4. Thank you for offering a best practice hybrid AGM today and for your past practice of publishing a full copy of the AGM webcast on your website, dating back many years. The video quality is also excellent. I was just puzzled why the notice of meeting wasn't lodged with the ASX this year. Also, what is the split between Australian and NZ shareholders and is it worth maintaining both listings?

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