Bhagwan Marine Ltd. · ASX:BWN
Bhagwan Marine — Shareholder Meeting (October 2025)
26 slides from Bhagwan Marine's shareholder meeting presentation, Oct 29, 2025
Slide 1: 2025 AGM – Chairman's Address and Managing Director's Presentation and Proxy Summary
ASX Announcement 29 October 2025 2025 AGM – The Chairman’s Address and the Managing Director’s Presentation to AGM and Proxy Summary Bhagwan Marine Limited (ASX: BWN) (the Company) provides a copy of the Chairman’s Address and the Managing Director’s Presentation to be given at the Company’s 2025 An
Slide 2: 2025 Chairman's Address
2025 Chairman’s Address 2025 Annual General Meeting, 29 October 2025 Before moving to the formal business of the meeting, I would like to briefly reflect on Bhagwan’s performance during fiscal 2025, the Company’s first full reporting period as a publicly listed entity. In the short time since listing, B
Slide 3: Chairman's Address (continued): Acknowledgements
These initiatives reflect Bhagwan’s ambition to lead the sector in adopting new technologies that reduce environmental impact, enhance efficiency, and position the Company at the forefront of marine innovation in Australia. Acknowledgements I would like to acknowledge Loui, Kerren, and the entire Leade
Slide 4: 2025 Annual General Meeting
2025 For personal use only Annual General Meeting 2 9 O CTO B E R 2 0 2 5 Image: The Sea Stryder Utility Vessel
Slide 5: Important Notice and Disclaimer
I M P O RTA N T N OT I C E A N D D I S C L A I M E R Authorisation of Release: This ASX Announcement has been approved for by other entities, nor should it be construed as an alternative to other This presentation contains statements that are subject to risk factors release by the Board of Bhagwan M
Slide 6: Agenda
Agenda For personal use only 1. Chairman’s Address 2. Resolutions & Voting 3. Close of Annual General Meeting 4. MD & CEO Address 5. Refreshments 3
Slide 7: Chairman's Address
For personal use only Chairman’s Address 4 Image: The Coral Knight Anchor Handling Vessel
Slide 8: Bhagwan Board
BHAGWAN BOARD For personal use only Anthony Wooles Loui Kannikoski Tracey Horton AO Andrew Wackett Chairman & Managing Director & Independent Executive Director - Finance Non-Executive Director Chief Executive Officer Non-Executive Director Appointed as Chair Founded and Managed Appointed as Indepen
Slide 9: Key Strengths & Achievements
BHAGWAN KEY STRENGTHS & ACHEIVEMENTS For personal use only Established in 2000, founder-led, Since ASX listing on 30 June 2024, Largest listed Australian marine with strong operational culture; FY25 revenue $283M (+5%), solutions provider, with a large leadership team strengthened with EBITDA $50.9M
Slide 10: Resolutions & Proxy Voting
For personal use only Resolutions & Proxy Voting 7 Image: Pusher Tug Operations – Susan and Sunrise
Slide 11: Preliminary Proxy Voting Results – 5 AGM Resolutions
P R E L I M I N A R Y P R O X Y V O T I N G R E S U LT S 2025 AGM RESOLUTIONS For Against Open For personal use only No. of Votes % of Votes No. of Votes % of Votes No. of Votes % of Votes Resolution 1 48,529,864 99.59% 30,300 0.06% 170,057 0.35% Adoption of the remuneration report Resolution 2 184,
Slide 12: Close of 2025 Annual General Meeting
For personal use only Close of 2025 Annual General Meeting 9 Image: Bhagwan (Keller) Ocean Multicat Barge Tow
Slide 13: Managing Director & CEO Address
For personal use only Managing Director & CEO Address 10 Image: Bhagwan Mover
Slide 14: Bhagwan Business Model at a Glance
B H AG WA N B U S I N E S S M O D E L AT A G L A N C E DIVERSIFIED BUSINESS MODEL – CORE & EMERGING MARKETS RESOURCES & CAPABILITIES For personal use only 1. Nationwide Facilities Providing Local Support 2. Diverse and Multifunctional Vessel Fleet OFFSHORE SUBSEA PORTS & DEFENCE ENERGY INSHORE 3. Hi
Slide 15: FY25 Highlights
FY25 HIGHLIGHTS D E L I V E RI N G I N F I RST Y E A R A S L I ST E D CO M PA N Y 283.0M 50.9M 35.8M 0.5CPS For personal use only RECORD RECORD NET CASH FROM INAUGURAL NET REVENUE EBITDA2 OPERATIONS DIVIDEND Up 5% on FY24 $268.8m1 Up 23% on FY24 $41.3m Up 23% on FY24 $29.0m Fully franked STRENGTHENI
Slide 16: Strong Activity Across All Sectors
STRONG ACTIVITY ACROSS ALL SECTORS F Y 25 U PDAT E For personal use only OFFSHORE PORTS & SUBSEA DEFENCE ENERGY INSHORE • Completion of significant TVI • Completion of horizontal • Support services for the Mardie • Ongoing projects with Australian project, establishing directional drilling support a
Slide 17: 1Q26 Update
For personal use only 1Q26 Update 14 Image: Coral Knight
Slide 18: Steady Activity Within Core Business
1 Q 2 6 U P DAT E STEADY ACTIVITY WITHIN CORE BUSINESS For personal use only NET REVENUE EXCLUDING TVI 1 PROJECT • Core1Q26 revenue up 7.8% on 1Q25 7.8 • Revenue uplift driven by strong activity – particularly offshore energy and ports & inshore • Jadestone Energy and Vermilion Energy contract exten
Slide 19: Outlook & Focus Areas
For personal use only Outlook & Focus Areas 16 Image: CMV Athos
Slide 20: Longer-Term Aspirations
LO N G E R -T E R M A S P I R AT I O N S DELIVERIN G SU STAIN ABLE EARN IN GS GROW T H TO SHAREHOLDERS SUBSTANTIAL For personal use only ADDRESSABLE MARKETS WITH COMPELLING OFFSHORE SUBSEA PORTS & DEFENCE GROWTH DRIVERS INCREASING ENERGY INSHORE RETURN ON ASSETS • Supply demand imbalance within mari
Slide 21: Substantial Addressable Market
S U B STA N T I A L A D D R E S S A B L E M A R K E T COMPELLING GROWTH DRIVERS OFFSHORE For personal use only ENERGY PORTS & Decommissioning Offshore Wind Larger Vessel Market SUBSEA INSHORE DEFENCE • Movement to reduce • Emerging growth • Major new projects: • Ageing assets • Ageing port • Marine
Slide 22: Positive Long-Term Industry Outlook
P O S I T I V E LO N G -T E R M I N D U ST RY O U T LO O K S U P P LY D E M A N D I M B A L A N C E E X P E C T E D T O S U P P O R T R AT E S OSV GLOBAL AHTS 4,000 + BHP OSV RATE INDEX AHTS OSV NEW BUILDING AHTS/AHT For personal use only PSV > 1,000 DWT PSV PSV/Supply UTILISATION CONTRACTING ACTIVI
Slide 23: FY26 Focus Areas
FY26 FOCUS AREAS O P E R AT I O N A L E F F I C I E N CY I N I T I AT I V E S U N D E R WAY For personal use only MARKET MARKET MARGIN OPERATIONAL PENETRATION DEVELOPMENT EXPANSION EXCELLENCE • Accelerate the expertise and • Draw on experience and proven • Generate quality revenue in an • Further re
Slide 24: Positive Outlook
POSITIVE OUTLOOK LEVERAGING LEADING MARKET POSITION AND STRONG DRIVERS It has been a positive start to FY26, with steady activity expected across our markets. For personal use only Tendering remains strong, supported by favourable vessel pricing and utilisation. While near-term economic uncertainty
Slide 25: For personal use only
For personal use only
Slide 26: For personal use only
For personal use only Level 3, 251 St Georges Terrace Perth WA 6000 T +61 8 9424 2300 E investor.relations@bhagwanmarine.com