GQG Partners (GQG) AGM 2025 summary

Opening remarks and agenda

• Meeting held virtually to increase access and participation, with introductions of board members and key executives, including Chairman Rajiv Jain, CEO Tim Carver, CFO Melodie Zakaluk, and General Counsel Rick Sherley.

• Purpose included the election of Bryan Weeks as a Class 1 Director, with voting instructions and procedures outlined for stockholders and CDI holders.

Financial performance review

• Funds under management reached US$153.0 billion at year-end 2024, up 26.9% from 2023, with net flows of US$20.2 billion and net revenues of US$760.4 million, a 46.9% increase.

• Net operating income rose 50.4% to US$577.9 million, and diluted EPS grew 52.3% to US$0.15 per share.

• Operating margin for 2024 was 76%, up 170 basis points from 2023; management fees made up 96.8% of net revenue.

• Operating expenses increased 37% due to higher compensation, distribution, and administrative costs, reflecting business growth and increased headcount.

• Performance and management fees both increased, driven by strong investment returns and higher average FUM.

Board and executive committee updates

• Board highlighted for its high engagement and expertise, with independent directors bringing deep experience.

• Bryan Weeks, nominated and elected as Class 1 Director, has extensive asset management and technology leadership experience and serves on key board committees.