Deterra Royalties (DRR) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land custodians and confirmation of quorum.

• Board members, executive team, auditors, and share registry representatives introduced.

• Housekeeping covered live streaming, voting procedures, and proxy arrangements.

Board and executive committee updates

• Managing Director and CEO Julian Andrews announced his upcoming departure after five years.

• Jason Neal, current Non-Executive Director, will serve as Interim Managing Director and CEO.

• Board has begun an executive search for a new permanent CEO.

• Alec Morrison and Leanne Haywood joined as Independent Non-Executive Directors and stood for election.

Financial performance review

• FY2025 revenue reached $263 million, up 10% year-on-year, with $238 million EBITDA at a 90% margin.

• Record production at Mining Area C, with volumes more than doubling since 2020.

• Gold offtake contracts contributed over $24 million in revenue before being divested.

• Sale of non-core precious metal assets generated a 28% return and $8 million pre-tax profit.