Rivco Australia (RIV) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with a welcome to attendees and introduction of board and management team.

• Notice of meeting was dispatched to shareholders on 18 March 2026, confirming proper constitution and quorum.

• The agenda included the Chairman's address, portfolio performance review, outlook, items of business, voting polls, and a Q&A session.

• Agenda covered updates on company progress, FY 2025 performance, internalization, capital management, portfolio performance, outlook, and formal business items.

Financial performance review

• Record profit before tax of AUD 33.5 million for 2025, up 152% from prior year; net profit after tax AUD 21.9 million, a 135% increase year-on-year.

• Earnings per share rose 133% to AUD 0.14; total shareholder returns reached 15.8%.

• Pre-tax NAV increased to AUD 1.75 per share, with a total NAV return of 12.9% including dividends.

• Portfolio size decreased by 36% due to net entitlement sales, despite acquisitions.

• Strong results driven by improved yields, active management, and profitable water entitlement sales to the government.

Board and executive committee updates

• Brendan Rinaldi appointed as Independent Chairman, succeeding Ed Peter on 1 June 2025.

• Chris Larsen joined as independent non-executive director; board composition includes independent and non-executive directors, with a stable management team.

• Dirk Wiedmann retired from the board effective immediately; Ed Peter and Dennis Mutton also departed.

• Board composition changes aimed at increasing independence and governance strength.