J P M O R G A N Asia Pacific Equity Research 17 August 2026 Aurizon Holdings Limited FY26 Result First Take: FY27 EBITDA and dividend guidance below consensus AZJ reported FY26 EBITDA of A$1,724m +1% vs JPM and in line with Bloomberg consensus. Neutral AZJ.AX, AZJ AU Price (14 Aug 26):A$4.16 Price Target (Jul-27):A$4.20 Australia Australia Industrials Lee Power AC (61-2) 9003-8725 lee.power@jpmorgan.com Dylan Adrian (61-2) 9003-7397 dylan.adrian@jpmorgan.com Nick Torelli (61-4) 6817-5219 nick.torelli@jpmorg ...