Corporate Plan Corporate 2 21 2 NBN Co Limited Corporate Plan 2021 NBN Co Corporate Plan 2021 Legal Notice Introduction This plan contains various projections, high-level estimates and other The Corporate Plan 2021 has been prepared forward-looking information (Estimates). by NBN Co Limited (NBN Co) for its This plan also contains Estimates in respect shareholder ministers, the Hon Paul Fletcher to periods after 30 June 2024, including in MP and Senator the Hon Mathias Cormann the long-term financial outlook section. (Shareholder Ministers) as required by the Public Governance, Performance and These Estimates are based on the best Accountability Act 2013 (Cth) (PGPA Act) (in considered professional assessment of particular section 95(1) (b) of the PGPA Act), present economic and operating conditions, the Public Governance, Performance and present Commonwealth Government policy, Accountability Rule 2014 (Cth) (PGPA Rule), and a number of assumptions regarding the Commonwealth Government Business future events and actions, which, at the date Enterprise Governance and Oversight of this document, are expected to take place. Guidelines (January 2018) (GBE Guidelines) The Estimates involve known and unknown and Australian Government policy as risks, uncertainties and other factors beyond communicated to NBN Co by the control that may cause NBN Co’s actual Commonwealth from time to time results, performance or achievements to be (together, Reporting Obligations). materially different from any future results, This Corporate Plan has been prepared for performance or achievements expressed the 2020–21 financial year (FY21) and covers or implied by the Estimates. the reporting periods FY21 to FY24. While the Estimates are based on the best considered professional assessment, the Glossary Management team and officers (as defined Defined terms within this Corporate Plan in the Corporations Act) of NBN Co do not should be read in conjunction with the give any guarantee or assurance to any third Glossary on pages 58 to 60. party that the results, performance or achievements expressed or implied by Disclaimer the Estimates will actually occur, and Due to the impacts of the COVID-19 the Estimates should not be relied on pandemic, publication of NBN Co’s or considered to be a representation Corporate Plan 2021 was delayed until of what will happen by any third party. September 2020. Other than required according to Reporting Obligations, NBN Co and its officers have no obligation to update the Estimates based on circumstances, developments or events occurring after the publication date of this document. Management and the Board do not give any guarantee or assurance that the results, performance or achievements expressed or implied by such Estimates will actually occur. © 2020 nbn co ltd ‘nbn’, ‘business nbn’ and nbn logos are trade marks of nbn co ltd | ABN 86 136 533 741 01 Contents Our purpose and strategy 02 About NBN Co 02 Our business 04 Our values 05 Chairman and Chief Executive Officer’s message 06 Delivering the initial build 10 FY20 Highlights 10 FY20 Performance 12 Commitment to regional, rural and remote Australia 15 Customer experience and industry engagement 17 Sustainability 24 Supporting Australia 26 Bushfires 28 COVID-19 30 Australia’s data demand 32 Investing in our customers 36 Investing for the future 38 Social and economic benefits 46 Funding our future strategy 52 Financial and operational information 53 Risk management 56 Glossary 58 02 NBN Co Corporate Plan 2021 About NBN Co Who we are NBN Co is helping customers in homes and businesses across Australia realise the social and economic benefits that high-speed broadband can unlock. NBN Co is committed to responding As the network wholesaler, NBN Co to the digital connectivity needs provides access to all Retail Service of all Australians, working with Providers (RSPs) on a non-discriminatory industry, governments, regulators basis. This approach is intended to and community partners, to lift level the playing field in the Australian the digital capability of Australia. telecommunications industry, enhancing competition and providing As a Government Business Enterprise greater choice for customers3 across (GBE), the principal responsibility of the country. It is through RSPs that NBN Co is to build and operate the customers connect to the nbn™ network National Broadband Network in for access to high-speed internet. accordance with the Commonwealth Government’s Statement of Expectations1, NBN Co is delivering high-speed 24 August 2016. broadband to customers across Australia over an area of more than seven million The Company’s key objective is to ensure square kilometres. Taking a customer-led that all Australians have access to fast approach, the Company is committed broadband, at affordable prices, and at to working with partners to enable least cost to taxpayers. more Australians to use the network In addition to building and operating to drive positive social and economic a network that is resilient and secure, benefits for themselves, their businesses, NBN Co is committed to delivering access their communities, and the country to peak wholesale download speeds of at as a whole. least 25 megabits per second (Mbps) to all eligible premises, and at least 50Mbps to 90 per cent of fixed-line premises2. 1 https://www.nbnco.com.au/corporate-information/about-nbn-co 2 This will be achieved at the end of co-existence, which refers to the period where there are active Telstra services running over the parts of the legacy Telstra network that NBN Co has acquired from Telstra. 3 Final downstream customers to NBN Co’s Retail Service Providers (RSPs). Our purpose and strategy 03 NBN Co’s purpose is to lift the digital capability of Australia. 04 NBN Co Corporate Plan 2021 Our business Our purpose Strategic pillars To lift the digital capability of Australia Ensure all Australians have access to high-speed, resilient and secure broadband Keep NBN Co a great place to work, underpinned by a customer-led culture Deliver a customer experience that drives satisfaction, use and network preference Develop a product and pricing portfolio that addresses our customers’ diverse needs Strengthen relationships with government, industry and community to optimise customer benefits Build capabilities for the future and grow profitability to enable reinvestment to benefit our customers Our purpose and strategy 05 Our values Our values underpin the way We are one team in which we act and behave. Respect each other, we create an They describe what is inclusive environment important to us and guide us Put team above yourself, recognise one on how we think and interact another’s contribution to create an even with our customers, each greater outcome other, and our communities. Better together, share ideas and resources across the Company, partner effectively with industry We deliver Start by asking, ‘would this make a positive difference for our customers?’ Set high expectations, accept accountability and honour our commitments Strive and adapt, being innovative and always finding solutions to achieve excellence We are fearless Listen, really listen, invite feedback and ask ‘why’ to genuinely understand Speak up, knowing it’s safe and expected to call things out, share bold ideas Trust and empower each other to make decisions and get things done We care Uphold the safety and wellbeing of each other and ourselves Lead with purpose, do the best for our communities Be curious, there’s always something to learn so together we can grow 06 NBN Co Corporate Plan 2021 Chairman and Chief Executive Officer’s message For more than a decade, NBN Co Without the nbn™ during these trying times, and its employees have been on a we would have been a nation without the mission to lift the digital capability digital means to seamlessly shift our of Australia by delivering the social workplace from the office to the home; our and economic benefits that access children’s education would have been to fast broadband unlocks. hampered by lack of online support; and we all would have felt the isolating effects 1 Completing the initial build of the nbn™ of this pandemic far worse than we have. network this year has not just been a monumental achievement for the Company, While unexpected, the onset of COVID-19 has it has been an economic, competitive and underlined for NBN Co and the nation just productivity boon for the nation. how important it was for this piece of critical communications infrastructure to be rolled This rollout has helped to reduce the out in the timeframe and manner it was. challenges caused by the significant 1 geographic distance between rural and But with the completion of the initial build metropolitan communities across this huge now behind us, it is time to look to the future. country. As a result, patients can access The next phase specialist care without having to travel at 1 some of the most vulnerable and difficult As we move beyond the initial build , we must times in their lives. It has boosted business meet the challenges presented by COVID-19 productivity and opened global markets to and the changing landscape of broadband not only existing businesses, but also a new use in Australia. generation of digital entrepreneurs. It has That is why, with this year’s Corporate Plan, ushered in new competition among the we are unveiling the next phase of investment nation’s internet providers, and it has in the nbn™ network: a $4.5 billion improved access to education for not just our commitment to make our highest wholesale children, but all those with a desire to learn. speed plans available to up to 75 per cent of There is always much more to be done to premises in the fixed-line footprint by 2023; connect Australians with each other and the to support the digitisation of small and services they need, but the nbn™ network medium businesses by making our has made a deep impact already and will business-grade fibre services more accessible continue to strive to do so.