The 25-year-old has so far this year finished in the top 10 of the Tour de Suisse, sixth overall at the Tour of Turkey and fifth overall at the Tour of California.
"We're very happy with the progression we've seen from Cam this year," said sport director Matt White, who previously worked with Meyer at Garmin in his first seasons as a road professional. "This is the first year that he hasn't had track obligations. In the past, he's had to divide his attention between the track and the road. This year was his first full road season, and despite an injury that required an adjustment to his early season schedule, we've seen huge gains in his developments."
Meyer explained that being able to pursue general classification ambitions played a big role in his decision to stay with the Australian-registered outfit.
"If I were to go to another team with big leaders, I wouldn't get the sort of support I've had here," he said. "The team gave me responsibility in Turkey, California and Switzerland, and they offered up the full team to back up this responsibility."
Meyer said that he has enjoyed being part of the first Australian WorldTour team.
"It's been great to be part of something new and exciting for Australia," said Meyer. "Every result feels extra special because we have a whole country behind us. Sometimes it feels like all of Australia is following our results and cheering for us. It gives me a little extra motivation to have so much support back home. I've really appreciated being part of a team that's in the habit of creating cycling history."