The Monster-backed #5 Ford Mustang was relatively unchallenged in the 26-lap affair, beating Walkinshaw Andretti United’s Chaz Mostert by more than 15 seconds after a late pit stop.

Broc Feeney, who started second, suffered a puncture midway through the race and was forced to pit.

Fortunately, it came before his solitary compulsory pit stop. However, time lost by the drama meant he wound up 14th at the chequered flag and 38 seconds adrift of Waters.

“That’s absolutely awesome,” said Waters of his Race 1 win.

“I knew I had a pretty fast race car in quali. I was pretty happy when I won the start. It was so fast out there.”

It marked a massive year-on-year turn around for Waters, who had a wheel come loose at Mount Panorama a year ago.

“Wow, how different it is from 12 months ago, I had wheels falling off and I was crook,” said Waters.

“I couldn’t be happier.”

From pole position, Waters got the holeshot into Turn 1 with Feeney in tow. In third place, Payne shouldered Kostecki wide at Turn 2, which left the Dick Johnson Racing driver vulnerable to an attack from Mostert.

With a run out of Turn 2, Mostert tried his best to hang on the outside of Kostecki at Turn 3 and into Turn 4 but slotted in behind before Turn 5.

At the end of Lap 1, it was Waters who led Feeney, Payne, Kostecki, Mostert, Thomas Randle, Andre Heimgartner, Bryce Fullwood, Will Brown, and Ryan Wood.

Grove Racing’s Kai Allen had the worst start of any driver, dropping from 10th to 18th at the end of the first lap.

Pit stops began on Lap 4 with Kostecki who was followed by Reynolds and Allen.

Brown and Wood enjoyed a spirited battle inside the first 10 laps that ultimately ended with Brown pitting.

At the head of the field, Waters led to the tune of five seconds over Feeney. Mostert was a further two-and-a-half seconds adrift in third.

DRAMA FOR FEENEY WITH A FLAT 🤯

Follow all the action from the Thrifty Sydney 500 with our Live Feed here 👉 https://t.co/qyu6AAgclo#RepcoSC #Supercars pic.twitter.com/y2gRGjmhPa

— Supercars (@supercars) February 21, 2025

Drama struck on Lap 12 when Feeney suddenly slowed out of Turn 5 with a left rear puncture.

With 11 laps remaining, Waters finally pitted from the lead. On the rejoin, the #6 Ford Mustang driver led Payne in the #26 car by just a few car lengths.

A further seven seconds afield was the battle for third between Mostert and Kostecki.

Once the field was cleansed with nine laps to go, Waters led Payne to the tune of 2.7 seconds.

Kostecki began to haemorrhage time in the closing laps. He lost out to Randle and was soon being harassed by Brown for fifth. Last year’s Supercars champion made quick work of Kostecki with eight laps to go at Turn 8.

The final few laps featured an enthralling battle for second between Payne, Mostert, and Randle.

Mostert put a pass on a tyre-poor Payne at Turn 4 but the Kiwi returned serve at Corporate Hill.

However, Mostert positioned his car perfectly to leave Payne vulnerable to an attack from Randle.

WHAT A FINAL LAP!!!

Follow all the action from the Thrifty Sydney 500 with our Live Feed here 👉 https://t.co/qyu6AAgclo#RepcoSC #Supercars pic.twitter.com/GRqsGpHIMu

— Supercars (@supercars) February 21, 2025

Soon enough, Mostert was able to clear out in second and leave Payne and Randle to box on over third. The pair made contact and it looked like one or both might spin at the final turn but they continued unabated.

On the last lap, Randle finally found a way through at Turn 8 to seal third place. Payne was fourth, Brown fifth, Kostecki sixth, and Heimgartner seventh. De Pasquale was eighth, Bryce Fullwood ninth, and Jack Le Brocq the last of the top 10 runners.

Action at the Sydney 500 continues with Qualifying for Race 2 at 2:35pm AEDT followed by a Top 10 Shootout at 4:35pm and Race 2 at 7:30pm.

Results: Repco Supercars Championship Sydney 500, Race 1