PointsBet (PBH) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum and introduction of board members and executives.

• Notice of meeting and agenda, including five resolutions, were confirmed and voting procedures explained.

Financial performance review

• Sale of U.S. business to Fanatics for $225 million completed, with proceeds and surplus cash returned to shareholders.

• Total of AUD 442.4 million (AUD 1.39 per share) returned to shareholders via capital returns.

• FY24 net win was AUD 267.1 million, up 16%; gross profit margin rose to 52.8%; marketing expenses down 21%.

• Normalized EBITDA loss improved to AUD 1.8 million, a AUD 47.2 million improvement from prior year.

• Australia posted record revenue (AUD 211.5 million, up 10%) and EBITDA (AUD 26.8 million); Canada revenue up 87%.

• Canadian EBITDA loss reduced to AUD 19.7 million from AUD 35.8 million; gross profit up 141%.

Board and executive committee updates

• Board and executive team recognized for navigating significant change and growth.

• Kosha Gada spoke on her re-election, emphasizing her commitment to the growth strategy.