Rivco Australia (RIV) AGM 2026 summary

Opening remarks and agenda

• Meeting opened at 10:02 A.M. with board introductions and acknowledgment of attendees in person and via livestream.

• Notice of meeting dispatched on 18 March 2026; quorum confirmed and meeting declared open.

• 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%.

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

• Strong results driven by high-security water asset yields, active management, and government water entitlement sales.

Board and executive committee updates

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

• Brendan Rinaldi assumed role of independent chairman on 1 June 2025, succeeding Ed Peter; Chris Larsen joined as independent non-executive director.

• Board composition includes independent and non-executive directors, with a stable management team.

• Board composition changes aimed at strengthening independence and governance.