Australian Ethical Investment Ltd · ASX:AEF
Australian Ethical Investment — Shareholder Meeting (November 2024)
44 slides from Australian Ethical Investment's shareholder meeting presentation, Nov 12, 2024
Slide 1: Australian Ethical 2024 AGM Speeches & Presentation slides
Australian AC Ethical ASX: AEF Tuesday, 12 November 2024 Australian Ethical 2024 AGM Speeches & Presentation slides ASX Announcement The Chair and Managing Director's speeches and presentation slides (including details of proxy votes received) are attached. This announcement is authorised by Karen H
Slide 2: Chair AGM speech, Nov 2024
Australian AC Ethical Chair AGM speech, Nov 2024 Well, it's been a year of milestones for Australian Ethical, with the size and health of our business continuing to grow. Notably we passed $10bn funds under management in March, and then $12bn with the finalisation of the Altius acquisition on 25 Sep
Slide 3: Chair speech: ethical vs ESG investing
Australian AC Ethical ESG is a way of assessing investments within a portfolio context, used to measure risk and opportunity. It doesn't stop managers or funds investing in certain areas - it merely guides the price they'll pay, and their advocacy within that asset. We are ETHICAL investors, which i
Slide 4: Chair speech: climate and animal welfare
Australian Ethical A* Ministers, MP's, political advisers and senior bureaucrats invigorated by the urgency of doing more on climate change and by the importance of the Government setting ambitious emissions reductions targets At a time when cost of living pressures are hitting families hard, and po
Slide 5: Managing Director speech: acknowledgements and purpose
John McMurdo, Managing Director Thanks Steve, I'd also like to acknowledge the Traditional Owners of the Country where we meet today, the Gadigal people of the Eora Nation, pay my respects to Elders past and present and thank them for protecting Country - since time immemorial. Good morning, everyon
Slide 6: Managing Director speech: allocating capital for change
And, sadly I could go on. While some investors move capital to benefit from the current uncertainty and unrest, we're absolutely resolute in our approach - allocating capital to future focused assets and using our growing voice and stewardship to advocate for systemic, not just company, change. We'v
Slide 7: Business Performance and FY24 Highlights
These examples provide a small window into the multi-year, strategic efforts our ethics team carries out as part of working towards our vision where money is a force for good. These kinds of initiatives are integral to who we are, they're what sets us apart from our peers and ensure our investment r
Slide 8: Growth strategy delivering FUM and revenue
But as you know - this has not been a one-year journey or a short-term "flash in the pan". When we embarked on our growth strategy four years ago, we were clear that while our investment in the business might dampen short-term profit growth, that funds under management and revenue capture, if we wer
Slide 9: Customer retention, product offering and advised channel
combination of our corporate performance, our ethical stewardship activities and thought leadership on important topics. • We have one of the highest rates of customer retention. • We deliver a strong customer experience and satisfaction. • We have a broader asset class and product offering - with c
Slide 10: Industry awards and recognition
2. In the past few weeks, we were recognized by industry peers as the Sustainable Super Fund of the Year, beating the likes of UniSuper, FIESTA and Future Super. 3. We were in the last year awarded the highest ever BCorp rating in Australia and N.Z, for any business in any sector, given the quality
Slide 11: Outlook and conclusion of speech
discretionary flows into investments and superannuation. And so, we will remain diligent and focused. Balancing the attractive medium and short-term opportunities for our business, with whatever market realities present in the here and now. We are fortunate that the strength of the business we have
Slide 12: 2024 Annual General Meeting
Australian Ethical Investment Ltd 2024 Annual General Meeting Steve Gibbs (Chair) and John McMurdo (Managing Director & CEO) 1 12 November 2024
Slide 13: Acknowledgement of Traditional Owners
Australian Ethical acknowledges the f MW Traditional Owners of the Country on which we meet, the Gadigal people of the Eora Nation. We pay our respects to Elders past and present and thank them for protecting Country - since time immemorial.
Slide 14: FY24 A successful year
FY24 A successful year FUM at 30 June 24 Revenue FY24 UPAT* Full year dividend $10.4bn $100.5m $18.5m 9c up 13% on 30 June 2023 up 24% on FY23 up 57% on FY23 up 29% on FY23 * UPAT - UPAT adjustments reflect: Integration and transformation costs of $5.1m, Due diligence and transaction costs of $1.4m
Slide 15: Australian Ethical
Australian Ethical AS
Slide 16: Investing for a better world
Investing for a better world ms
Slide 17: News headlines on fossil fuels and super funds
g y ’s p la n s to d e v e lo p gas Woodside Ener n coast e W e s te r n A u s tr a li a "Drill, baby drill... fields off th c h net d s w it h it s b id to r e a stand at od Donald Trump e m is s io n s b y a t le a s t 2050. zero promises more oil extraction inAmei investingin nu Bigsuper is still
Slide 18: Ethical investing can deliver attractive returns and influence progress
y „V-1 A '• ifife u Ethical investing can deliver both attractive investment returns and influence progress towards a better future for the planet and all its inhabitants. 7
Slide 19: Banks and coal financing headlines
Experts urge ©Infradebt Australia not to Australian AC r*» delay target too long Ethical NAB will not finance new-to-bank thermal coal mining customers or new thermal coal mining projects and as of September 2023
Slide 20: Deforestation targets and supermarket commitments
Westpac becomes first bank with zero deforestation target Supermarket Woolworths has co mmitted to purchase "deforestation-free " beef from the end of next year. AUSTRALIA NCTHICAL Posts GRASS FED AUSTRALIAN BEEF SCOTCH FTLLET Austrajja_H is a global deforestation hotspot VT we're doing about it ->
Slide 21: Australian Ethical
Australian Ethical
Slide 22: FY24 financial results
FY24 financial results A milestone year $18.5m $11.8m FY24 UPAT* NPAT** up 57% on FY23 up 80% on FY23 • This momentum against our strategy has further strengthened operational foundations, increased scale and profitability with a record FY24 result • Record UPAT following strong 2H24 uplift of 18% o
Slide 23: Investment in capability and platform benefiting all stakeholders
Investment in our capability & business platform as part of our strategy is benefiting all stakeholders ... FUM $bn Revenue $m • Over the last 5 years we have been focused on investing for the next stage of our growth • This investment has meant while net profit had been impacted in the short term,
Slide 24: Looking forward
Looking forward — to the future .- :
Slide 25: A stronger, more capable business positions us for further growth
A stronger, more capable business positions us for further growth Major milestones Strong brand & reputation ÿ MORGAN ROY Boosted by the first full year benefit of 3rd most trusted Super brand the successful SFTA with Christian Super in Australia** $10bn FUM Enviable customer retention and satisfact
Slide 26: Our Foundation supports charities combatting climate change
Our Foundation supports charities combatting climate change Our Foundation's vision is to direct as much philanthropy as possible to effective solutions and charities addressing the climate emergency. 1 . ,'V%. • $1.8m Record donation to the $llm+ Cumulatively allocated 10% of AEI profits** allocate
Slide 27: Five proof points
Five proof points Certified AUSTRALIAN GROWTH Corporation Sustainable Fund , COMPANY AWARDS of the Year Financial Services Growth Australia's first publicly listed B Corp. Company of the Year 2024 Sustainable Super Fund Highest scoring Certified B Corporation in Australian Growth Company Australia &
Slide 28: Outlook
Outlook
Slide 29: Conclusion
Conclusion of eC
Slide 30: 19
19
Slide 31: Questions?
Questions? 20
Slide 32: Resolution 2
Resolution 2 That Julie Orr, Director, be re-elected as a Non-executive Director of the Company. 21
Slide 33: Resolution 2 - Proxy Votes Received
Resolution 2 - Proxy Votes Received For 34,982,403 That Julie Orr, Director, be re-elected as a Non-executive Director of H the Company. Open 4,193,803 Against 3,661,789 Abstain 36,576 22
Slide 34: Resolution 3
Resolution 3 That Richard Brandweiner, Director, be elected as an Executive Director of the Company. 23
Slide 35: Resolution 3 - Proxy Votes Received
Resolution 3 - Proxy Votes Received For 35,554,338 That Richard Brandweiner, Director, be elected as an Executive Director of the Company. Open 4,194,713 Against 2,977,834 Abstain 147,686 24
Slide 36: Resolution 4
Resolution 4 That for the purposes of ASX Listing Rule 10.17, the Company reward persons who undertake the duties and responsibilities of being a Non-Executive Director (including attendance at meetings of the Board of Directors and Board Committees) by approving payments in total aggregate of no mo
Slide 37: Resolution 4 - Proxy Votes Received
Resolution 4 - Proxy Votes Received For 36,521,970 That for the purposes of ASX Listing Rule 10.17, the Company reward persons who undertake the duties and responsibilities of being a Non-Executive Director (including attendance at meetings of Open the Board of Directors and Board Committees) by app
Slide 38: Resolution 5
Resolution 5 That for the purpose of ASX Listing Rule 10.14 and all other purposes, approval is given for the grant of long-term Hurdled Performance Share Rights to Australian Ethical Investment Limited's Managing Director and CEO, John McMurdo, under the Australian Ethical Executive Long Term Incen
Slide 39: Resolution 5 - Proxy Votes Received
Resolution 5 - Proxy Votes Received For 35,484,733 That for the purpose of ASX Listing Rule 10.14 and all other purposes, approval is given for the grant of long-term Hurdled Performance Share Rights to Australian Ethical Investment Limited's Open Managing Director and CEO, John McMurdo, under the A
Slide 40: Resolution 6
Resolution 6 That the Remuneration Report for the financial year ended 30 June 2024 be adopted. 29
Slide 41: Resolution 6 - Proxy Votes Received
Resolution 6 - Proxy Votes Received For 35,510,428 That the Remuneration Report for the financial year ended ÿ 30 June 2024 be adopted. Open 4,194,713 Against 2,823,157 Abstain 124,338 30
Slide 42: Resolution 7
Resolution 7 That, as required by the Corporations Act: a. a meeting of the Company's members be held within 90 days of the date of the 2024 Annual General Meeting (the spill meeting); b. each of Stephen Gibbs, Richard Brandweiner*, Kate Greenhill, Sandra McCullagh and Julie Orr* cease to hold offic
Slide 43: Resolution 7 - Proxy Votes Received
Resolution 7 - Proxy Votes Received For 4,038,537 That, as required by the Corporations Act: a. a meeting of the Company's members be held within 90 days of Open the date of the 2024 Annual General Meeting (the spill meeting); 4,201,313 b. each of Stephen Gibbs, Richard Brandweiner*, Kate Greenhill,
Slide 44: Australian Ethical
Australian Ethical AS
Australian Ethical Investment — Shareholder Meeting (November 2024) on 6ix