Regal Partners Limited · ASX:RPL
Regal Partners — Shareholder Meeting (May 2026)
27 slides from Regal Partners's shareholder meeting presentation, May 28, 2026
Slide 1: 2026 AGM Chairman and CEO Addresses and Presentation Slides
Regal Partners Limited ABN 33 129 188 450 Level 46, Gateway, 1 Macquarie Place Sydney NSW 2000 Australia T. +61 2 8197 4350 www.regalpartners.com ASX RELEASE 28 May 2026 2026 Annual General Meeting Chairman and CEO Addresses and Presentation Slides Regal Partners Limited (ASX:RPL) will hold its 2026
Slide 2: Chairman's Address
Chairman’s Address On behalf of the Board of Regal Partners, I would like to warmly welcome shareholders to today's Annual General Meeting and thank you for your continued support of the Company. I will begin with a brief review of 2025 – a year in which Regal delivered another strong financial resu
Slide 3: CEO's Address
CEO’s Address Before I provide an update on the business, I would first like to acknowledge and thank Michael for his leadership as Chair since our merger in 2022. Michael’s deep asset management experience has been critical to guiding Regal through a period of substantial growth. Michael, it has be
Slide 4: Strong performance widespread across funds
Importantly, this strong performance has been widespread across our funds and not just limited to our higher-profile hedge fund strategies. For example, our real asset strategies and mining and resource royalties particularly have been very strong. Aside from being a good outcome for existing client
Slide 5: Water and credit; financial performance
Turning to water. Water rights are an asset class with very low correlation to traditional investments and, as a result, we continue to see high demand for our water strategy. Regal’s water strategies have generated a return of around 12% p.a. since inception with approximately one third of that ret
Slide 6: Flipping the pyramid: refreshed identity
Going forward, we are flipping this pyramid. In other words, we intend to lead more consistently with the Regal brand and place greater emphasis on our core capabilities: Hedge Funds, Credit & Royalties, Growth Equity, and Real & Natural Assets. This means our focus is on the strength of the overall
Slide 7: Regal Partners Limited (ASX:RPL) 2026 Annual General Meeting
Regal Partners Limited (ASX:RPL) 2026 Annual General Meeting 28 May 2026
Slide 8: Chairman's Address
Chairman’s Address Michael Cole AM
Slide 9: Resilient business delivering for shareholders
Resilient business delivering for shareholders Normalised management fees ($M) Normalised performance fees ($M) Net FUM inflows ($B)1 203.1 $200m 6.00% $200m 175.7 6.00% Gross inflows 3.1x of $3.5bn 5.00% 5.00% 3.5x $150m $150m 7.1x 162.0 4.00% 4.00% Gross inflows $100m 84.5 3.00% $2.0bn of ~$1bn $1
Slide 10: CEO's Presentation
CEO’s Presentation Brendan O’Connor
Slide 11: Regal Partners today
Regal Partners today Scale and growing alternative ASX-listed Experienced, highly investment manager credentialled team $21B ~$0.9B ~95 FUM1 Market capitalisation2 Investment professionals HEDGE FUNDS CREDIT & ROYALTIES $11B $7B • Market Neutral • Structured Finance • Absolute Return • Mining Financ
Slide 12: Three key strategic goals
Three key strategic goals: 1. Grow and diversify our investment capabilities 2. Grow and diversify our client base 3. Evolve our centralised and scalable platform
Slide 13: FUM is highly diversified and with long duration
FUM is highly diversified and with long duration RPL FUM BY ASSET STRATEGY RPL FUM BY CLIENT CHANNEL RPL FUM BY LIQUIDITY 30k+ investors, 50+ institutions Multi-Strategy (incl. ASX:RF1) Hedge Funds - Mkt Neutral, Abs Return, Hotels Active Extension Water LIC / LIT Growth 15% Equity Institutional & R
Slide 14: Strong long-term performance
Strong long-term performance ANNUALISED NET PORTFOLIO RETURNS TO 30 APRIL 2026 (SINCE INCEPTION AND 3 YEARS)1 Regal Tactical Opportunities 33.5% Regal Australian Small Companies 21.4% Regal Resources Long Short 19.0% PM Capital Global Opportunities (ASX:PGF) 16.4% Hedge funds Regal Australian Lo
Slide 15: Consistent track record of positive and diversified net flows
Consistent track record of positive and diversified net flows Quarterly net FUM inflows ($m) +$0.5bn +$1.9bn +$1.5bn 12m to Dec-23 12m to Dec-24 12m to Dec-25 $800m 720 723 Strongest start $700m to the year since merger $600m 559 $500m 461 444 449 404 341 $400m $300m 273 185 75 149 $200m 177 108 -3
Slide 16: Growing demand for uncorrelated, inflation-protected and income-producing strategies
Growing demand for uncorrelated, inflation-protected and income-producing strategies RPL Offices ~20% of RPL FUM in offshore funds and mandates Growing offshore client base with good traction in the US, Asia and Middle East Hong Kong Clients include fund-of-funds, sovereign wealth funds, pension fun
Slide 17: Resources royalties: exposure without opex and capex risk
Resources royalties: Exposure to commodities without the opex and capex risk • Resource royalties sit between debt and equity in the capital structure • Capable of generating both income and capital returns • Royalties participate in exploration and development upside without having to fund operatin
Slide 18: Australian water: a unique asset class with structural advantages
Australian water: A unique asset class with structural advantages • Secure property rights Registered in state titles offices – akin to owning a piece of land. Certainty of title is government- backed • Long-duration real asset characteristics Water entitlements are perpetual assets that benefit fro
Slide 19: Australian and New Zealand private credit
Australian and New Zealand private credit: Directly originated, short duration credit backed by hard assets • Directly originated, senior secured loans backed by hard assets: real estate, agriculture, infrastructure and resources • Floating interest rate Market Square, Adelaide • Short duration (<3
Slide 20: Normalised profit or loss statement
Normalised profit or loss statement Year to Year to 2025 vs $m Dec 2024 Dec 2025 2024 Revenue (net income) Average FUM in 2025 FUM (including non-fee-earning) ($bn)1 18.0 20.9 +16% Average FUM (including non-fee-earning) ($bn)1 Average management fee (%) 14.4 1.13% 18.5 1.09% +28% (4bp) $419.0M $18.
Slide 21: Diversification of performance fees drives earnings resilience
Diversification of performance fees drives earnings resilience ~$17B $180m 176 Multi-strategy $160m performance fee-eligible FUM1,2 Water $140m ~70% $120m Royalties $100m 85 Credit at or within 5% of HWM1,2 $80m Hedge Funds - Specialist 56% $60m Hedge Funds - Global $40m 25 of FUM subject to fixed h
Slide 22: The strategic rebrand creates clarity and positions us for growth
The strategic rebrand creates clarity, positions us for growth, and creates operational efficiencies Project priorities: • Ensuring the market understands Regal Partners and the Regal Partners Our Lead Brand strength of our diversified offer • Reducing confusion and complexity generated from acquire
Slide 23: A new era of opportunity, a new brand identity
A new era of opportunity, a new brand identity
Slide 24: Refreshed website with streamlined investor experience
Refreshed website with streamlined investor experience
Slide 25: A clean and confident brand identity
A clean and confident brand identity
Slide 26: Positive outlook with growth momentum continuing
Positive outlook with growth momentum continuing Strong momentum domestically, with $449m in net inflows in 1Q26 Strong pipeline of offshore clients Product innovation continues – Regal Partners Multi-strategy Income now seeded – target launch in 2H26 One RPL approach – further integration of platfo
Slide 27: PARTNER
PARTNER