AGMs

3 questions lodged at 2025 Bluescope hybrid AGM


November 21, 2025

Below is the text of the 4 written questions submitted at the Bluescope Steel hybrid AGM held in Wollongong on November 18, 2025, plus a summary of the answers and some video grabs via Twitter. See notice of meeting. Market cap was $10 billion on AGM day. The proxies were not disclosed early in the formal addresses and they came through with headcount data in these poll results with no protest votes.

Q1. I loved the way you argued for John Nowlan's appointment to the board, even though he won't be independent. If there was a governance rule in the ASX200 which said it is good practice to have one non-independent director because they add so much value overall, this would be a good development. Well done for blazing the trail with John's appointment which I'm going to use as a precent to encourage other companies to follow, provided there is always a strong majority of genuinely independent non-executive directors, including the chair. Did any of the governance box-tickers recommend against John's election?

Answer: The chair... Watch video of exchange via Twitter.

Q2. Why didn't you disclose the proxy position early to the ASX along with the formal addresses to allow more time for investors to prepare for today's AGM debate. Many other companies do this. Did any of the proxy advisers recommend against the remuneration report and, if so, what concerns did this raise?

Answer: The chair... Watch video of exchange via Twitter.

Q3. I support ongoing Bluescope AGMs being held in Wollongong, as long as you continue to offer the hybrid format. Us capital city types are spoilt for choice but too often don't turn up in Sydney, Melbourne & Perth in particular. Adelaide does get big numbers when companies visit because not much happens in Adelaide. However, to prove there is demand in Wollongong, please disclose the head count data in the poll results so we can see how many shareholders voted by proxy and how many voted in person today. Will you do this?

Answer:
Not asked.