The management team convened in person this week in Adelaide to discuss the previous month and upcoming balance of F’24. It is amazing that we have already completed our first quarter. The results will be released in March; however, I do want to thank everyone for the dedicated efforts in maximising our result. We did extremely well in managing so many changing factors including the “unpredictable” weather.

We are positioned well to keep momentum for the business as we move into autumn and winter. There are positive signs and emerging opportunities that should bide well for the balance of F’24.

In addition to our results and forecasts the management team discussed a variety of subjects including:

Safety
Technology
Communication
Recognition
Events

David Morley lead the safety discussion and informed the group that we would now separate our “Safety” meetings from our “Site facility” meetings. Many times, during our safety meeting we can get caught up with discussion that is really related to facility management and vice versa. This new change ongoing will allow us to focus solely on safety as a subject matter. This aligns with our high prioritisation of safety for all of us.

Technologically speaking we had Simon Howard take us through the growing needs of the service business. We are seeing more “computer” diagnosis on our newer innovative equipment. Coupled with this is the opportunity to drive our productivity maximising our ServiceMax operating platform. There was a strong proposal to increase our investment in the technology tools required to drive our strategic advantage of our service centres and service people. There will be more to follow once we finalise the investment.

In follow up to one of our key elements for the “sub-committees”, Tim Hogan presented the business on electronic notice boards around all the sites. This would involve large TV screens at each site (multiple screens at some of the larger sites) that would be great tools to update employees on “what’s happening” in the business. This was a direct “recommendation” from the sub- committee. It was agreed by all the management team that we should look to proceed with this. We will now start to formalise the ongoing management structure and process to ensure this is successful. More to come.

There were two other items from our sub-committee proposal that were discussed at the meeting. Recognition and events.

Steve Jarman presented a revised and updated proposal on re-launching a recognition program similar to the Circle of Excellence. A big thank you for all of those that submitted ideas for the new naming of this award. We are hopeful to have it all ready to launch at the next Team Talk in March.

Elise Willemsen also got the chance to present on a sub-committee proposal, that of our Owners Day. Tatiana Ballesteros-Caro has recently lead a group to explore your thoughts on how to proceed with this extremely important day. There were so many great ideas on timing, themes, agendas, gifts etc. There was a great deal of information to digest in this presentation, and as we work our way through the ideas, we will look to provide the best “Owners Day” experience we can. More to follow.

In addition to the abovementioned items, we finished the management meeting with an update of some Important visitors to Australia over the coming weeks.

Next week we will host Amy Dahl – VP International and Beth Johnson – Director FP&A. Amy and Beth will be spending a few days at both our Braeside and Beverley sites focusing on meeting our people and learning about our markets, customers, and strategies. They will also be out and about meeting with a wide variety of our customers. Those employees based at Beverley and Braeside will have the chance to connect over scheduled morning teas.

Amy Dahl

Beth Johnson

The week beginning 25 February we will be hosting Jason Baab – VP Strategy, Corporate Development & Sustainability. Jason joined Toro last year and has a goal to get out to all Toro facilities both domestically and internationally. He will be visiting both the Adelaide and Melbourne facilities and focusing on our Sustainability activities (eg. Solar project at Beverley) and learning about our overall strategies as a business. (eg. Plan to a Page).

Please help me in welcoming Amy, Beth and Jason to Australia and if you see them around, please go and say “G’day”.

Once again, thank you all for your ongoing efforts to make us the strong business that we are.

Sincerely

Laurence

Notice of Confidentiality | Inside the Boardroom is strictly confidential and prohibited from public disclosure or distribution.

Farewell

Wishing our departing employee well for any future endeavours