Qualitas (QAL) AGM 2026 summary

Opening remarks and agenda

• Hybrid AGM opened at 2:00 p.m. with a quorum; shareholders and proxies could participate in person or online, and resolutions were decided by poll.

• Proceedings opened with an Acknowledgement of Country; agenda covered Chair and Managing Director addresses, formal business and shareholder questions.

Financial performance review

• FY26 fee-earning FUM rose 36% to AUD 11.9bn; deployment reached a record AUD 6.5bn, up 42% YoY, with 72% from repeat borrowers.

• Funds management revenue rose 27% to AUD 85.1m; net performance fee revenue increased 70% to AUD 13.7m, and funds management EBITDA margin reached 54.3%, versus 52.3% in FY25.

• Normalized NPBT rose 20% to AUD 63.4m; normalized NPAT was AUD 44.3m, up 20%, and statutory NPAT was AUD 41.7m, up 25%.

• Funds management EBITDA margin reached a record 54%, up 8 percentage points since FY23; core employee costs grew 17% against funds management revenue growth of 27%.

• Normalized EBITDA margin was 52% versus 51% in FY25; excluding performance fees, it was 46% versus 47%, reflecting lower principal income and softer Arch Finance contribution.

Board and executive committee updates

• No board composition changes occurred during FY26; Mary Ploughman, ARC Chair and Investment Committee member, retired by rotation and stood for re-election.

• The board recommended voting for Ploughman's re-election; leadership appointments were made for Arch Finance, Income Equity and AI technology.