Navigator Global Investments (NGI) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum, welcome, and addresses from the Chairman and CEO, outlining the agenda and formal business.

• Shareholders could participate online or in person, with multiple channels for submitting questions.

Financial performance review

• Achieved record earnings and strong growth in FY25, with revenue of $204 million, up 18% year-on-year.

• Adjusted EBITDA reached $114 million, a 26% increase, driven by strong investment performance and higher margins.

• Net profit after tax was $119.4 million, with earnings per share of $0.21 USD; statutory NPAT increased by 80% and EPS rose 46%.

• Ownership-adjusted AUM increased to $27.7 billion, up 6%, and total firm-level AUM reached $87 billion by September 2025.

• Revenue composition remains robust, with 67% from base management fees and consistent performance fees; portfolio diversification and higher management fee base contributed to returns.

Board and executive committee updates

• Michael Shepherd retired as Chairman after 16 years, with Roger Davis appointed as the new Chair.

• Sean McGould retired as Director but remains CEO and CIO of Lighthouse; Ross Zachary to be appointed as Executive Director.

• Board reaffirmed commitment to strong governance and regular review of remuneration policies.