Worley Executes Cancellation of 2.04 Million Shares Valued at AUD 24.2 Million in June 2026 Buyback

Worley Cancels Over Two Million Shares on 30 June 2026 Under Current Buyback Program

On 1 July 2026, Worley Limited formally informed the market that it cancelled 2,042,548 fully paid ordinary shares (ASX Code: WOR) on 30 June 2026. This cancellation was executed under the company’s existing on-market buyback program, which permits share repurchases on the Australian Securities Exchange at prevailing market prices.

The company confirmed that this cancellation encompasses all buyback transactions conducted in June 2026 under the current program. Such on-market buybacks serve as a recognized method for returning capital, and the deployment of over $24 million in a single month highlights Worley’s proactive approach to managing its share capital. No further details were provided regarding the overall duration or total size of the buyback program in this filing.

$24.19 Million Spent on Share Repurchases in June 2026

The disclosed total consideration for the cancelled shares was AUD $24,195,883.05. This equates to an approximate average purchase price of $11.85 per share, calculated by dividing the total consideration by the number of shares cancelled. The company did not explicitly state this average price in the announcement; it is derived from the disclosed figures.

This level of capital deployment in a single month demonstrates the scale at which Worley is executing its buyback. Shareholders tracking capital allocation will note management’s active use of resources to reduce the share count. The consideration was paid in Australian dollars, consistent with Worley’s primary ASX listing.

Worley’s Quoted Ordinary Shares Reduced to 487,980,085

Following the cancellation, Worley’s total quoted fully paid ordinary shares outstanding stand at 487,980,085. This figure represents the company’s post-cancellation issued capital for its primary equity class listed on the ASX and is used to calculate the company’s market capitalization.

Reducing the total share count, assuming earnings and net assets remain unchanged, mechanically increases earnings per share and net asset value per share. Investors monitoring Worley’s per-share financial metrics should note this progressive reduction as buyback activity continues. The company did not provide updated earnings guidance or per-share data in this filing.

Mechanics of Worley’s On-Market Buyback and Share Cancellation

An on-market buyback enables a listed company to repurchase its own shares via regular trading on the ASX at market-driven prices, rather than through fixed-price tenders or off-market processes. Repurchased shares are cancelled rather than held as treasury stock, permanently lowering the total shares on issue and concentrating ownership among remaining shareholders.

Worley’s buyback complies with Australian Securities and Investments Commission (ASIC) regulations and ASX Listing Rules, which limit the number of shares that can be repurchased within specified periods. The Appendix 3H filing lodged on 1 July 2026 formally notifies the ASX of the securities cessation, ensuring transparency for market participants and adherence to continuous disclosure requirements.

Unquoted Securities: 7.94 Million Performance Rights and One Special Voting Share Remain

In addition to its quoted ordinary shares, Worley’s capital structure includes 7,941,082 unquoted performance rights (ASX code: WORAI) and one Special Voting Share (ASX code: WORAK). These securities are not traded on the ASX but form part of the company’s overall issued capital and affect the potential dilution of ordinary shareholders.

Performance rights are generally granted to executives and senior employees under long-term incentive plans and convert to ordinary shares upon meeting performance conditions. The presence of nearly 7.94 million performance rights indicates possible future dilution if these rights vest. The Special Voting Share serves a governance role; no further details were provided in this filing. Investors seeking more information should consult Worley’s prior remuneration reports and constitutional documents.

Insights Into Worley’s Capital Management From June 2026 Buyback Activity

The continuation of Worley’s buyback program through June 2026 suggests the board and management consider share repurchases a valuable use of capital at current market prices. Buybacks typically occur when a company’s board believes the market price undervalues the company’s intrinsic value or when excess capital is available that cannot be better deployed.

Worley, a leading Australian engineering and professional services firm operating globally across energy, chemicals, resources, and environment sectors, deployed over $24 million in June alone. This indicates strong cash flow generation supporting capital returns alongside ongoing operational investment. The company did not disclose updated cash flow, balance sheet, or liquidity data in this filing; investors should review recent full-year and half-year results for broader financial context.

Derived Average Buyback Price and Timing Implications

The implied average price paid per share during June 2026 was approximately $11.85, calculated by dividing the total consideration of AUD $24,195,883.05 by the 2,042,548 shares cancelled. This figure is derived from disclosed data, as the company did not explicitly report the average price per share. Investors may compare this against Worley’s trading range in June 2026 to evaluate whether purchases aligned with management’s valuation views.

The immediate impact on the share price was not publicly disclosed. However, sustained buyback activity at this scale can provide price support by making the company a consistent buyer of its own shares. Whether this buyback is part of a fixed-term or fixed-value program was not specified; investors should consult the original buyback announcement for those details.

Continuous Disclosure Compliance Via Appendix 3H Filing

The Appendix 3H form is the ASX-mandated document for notifying cessation of securities. Its submission on 1 July 2026, the business day following the 30 June 2026 cancellation, aligns with Worley’s continuous disclosure obligations under ASX Listing Rules. Accurate and timely reporting of capital changes ensures all market participants have equal access to material information.

Worley noted that figures in Part 3 of the Appendix 3H, which reflect issued capital after changes, are automatically generated by the ASX system and may not fully represent current issued capital if other forms are processed simultaneously. Shareholders and analysts should regard the post-cancellation share count of 487,980,085 as the latest figure from this filing while remaining attentive to any subsequent updates.

Investor Considerations as Worley’s Buyback Program Progresses

With the June 2026 tranche now officially cancelled and reported, investors will likely monitor future Appendix 3H filings to determine if Worley continues repurchasing shares through July 2026 and beyond. The significant $24.19 million deployment in June suggests the buyback is a substantive capital management strategy rather than a nominal exercise.

Upcoming events for WOR shareholders may include the company’s next results announcement, where management might provide updates on the total buyback program size, remaining capacity under board approval, and how the program fits within broader capital allocation plans including dividends, debt management, and organic or inorganic investments. No forward-looking details were disclosed in this filing. Investors are encouraged to consult Worley’s investor relations resources and seek advice from licensed financial advisers before making investment decisions based on this information.