Ridley Corporation Limited · ASX:RIC
Ridley — Shareholder Meeting (November 2025)
37 slides from Ridley's shareholder meeting presentation, Nov 19, 2025
Slide 1: ASX Announcement: AGM Managing Director Address and Outlook
ASX Announcement 19 November 2025 RIDLEY ANNUAL GENERAL MEETING MANAGING DIRECTOR ADDRESS AND OUTLOOK Ridley Corporation Limited (Ridley) (ASX:RIC) attaches the address to be presented by the Managing Director and Chief Executive Officer at today’s Annual General Meeting, commencing 10am (AEDT) at:
Slide 2: Managing Director and CEO's Address
ANNUAL GENERAL MEETING 19 NOVEMBER 2025 Managing Director and Chief Executive Officer’s Address Thank you Mick and good morning. We appreciate your attendance at our AGM today. I intend to use this address to frame-up Ridley’s opportunity to make a meaningful contribution to the success of Australia
Slide 3: Managing Director's Address (continued)
The Packaged Feeds business is the leading animal feed supplier for the rural retail sector and is broadening this offering as a house-brand supplier in pet speciality and grocery. Our extrusion operation is completing the transition to being a pure-play petfood producer and I am pleased to report t
Slide 4: Managing Director's Address: FY25 performance and strategic initiatives
supplements sales in the drier conditions and increased contract packing volumes in extruded petfood. As a result of our underlying performance the Board declared a progressive dividend of 9.75 cent per share. Strategically a number of key initiatives came to fruition in FY25: a significant reset of
Slide 5: Acknowledgements
Acknowledgements The past 12 months have been extremely busy and productive for Ridley, and I want to thank our Chair and Board for their significant commitment to the company during this period, and for their collective wisdom in navigating our strategic agenda. To the leadership team, thank you fo
Slide 6: Annual General Meeting
ANNUAL GENERAL MEETING 19 November 2025
Slide 7: Chairman's Welcome
Chairman’s Welcome Mick McMahon LEADING TOGETHER Chairman Annual General Meeting | 19 November 2025 2
Slide 8: Introducing
INTRODUCING Chairman CEO & Director Director Director Director CFO Company Managing Director Secretary Mick Quinton Julie Rhys Melanie Daniel Richard Kirsty McMahon Hildebrand Raffe Jones Laing Masters Betts Clarke LEADING TOGETHER Annual General Meeting | 19 November 2025 3
Slide 9: Virtual Meeting Protocol
Voting on the resolutions is now open and you can vote Virtual at any time until the voting Meeting is declared closed. Protocol You can also change your vote at any time throughout the proceedings. LEADING TOGETHER Annual General Meeting | 19 November 2025 4
Slide 10: Virtual Meeting Protocol - Voting
VIRTUAL MEETING PROTOCOL - VOTING 1. When the poll is open, select the vote icon at the top of the screen Items of Business 2. To vote, select either For, Against or 2A Re-elect Mr. Sam Sample as a Director Abstain 3. You will see a vote confirmation FOR AGAINST ABSTAIN 4. To change or cancel your v
Slide 11: Virtual Meeting Protocol - Questions
VIRTUAL MEETING PROTOCOL - QUESTIONS 1. To ask a written question select the Q & A icon 2. Select the topic your question relates to from the drop-down list 3. Type your question in the text box and press the send button 4. To ask a verbal question follow the instructions below the broadcast window
Slide 12: Managing Director's Address
Managing Director’s Address Quinton Hildebrand LEADING TOGETHER CEO & Managing Director Annual General Meeting | 19 November 2025 7
Slide 13: Australian Agriculture: Resilient and Growing
AUSTRALIAN AGRICULTURE: RESILIENT AND GROWING • Australian Agriculture is a Cropping – Production value ($b) Livestock – Production value ($b) $100b+ market1 • Cropping and livestock markets 70 45 reflect >90%, with Ridley now participating in both 60 40 35 • Cropping is a $53b market2. 50 Volume gr
Slide 14: Ridley's Role in the Australian Agriculture Market
RIDLEY’S ROLE IN THE AUSTRALIAN AGRICULTURE MARKET LEADING TOGETHER - FROM FERTILISER TO FEED Because we believe: The future of agriculture is an interconnected END-TO-END L E AD I N G T O GECOSYSTEM. ETHER Progress happens through meaningful PARTNERSHIPS. NUTRITION is the key to sustainable and pro
Slide 15: One Ridley, Three Growth Pillars
ONE RIDLEY, THREE GROWTH PILLARS Ridley is one business, with three business units that are underpinned by a culture of performance, commerciality and growth. Bulk Stockfeeds Packaged Feeds & Ingredients Fertiliser #1 market position #1 market position #1 market position People, Safety & Quality Fin
Slide 16: The Fertiliser Growth Opportunity
THE FERTILISER GROWTH OPPORTUNITY OBJECTIVE PROGRESS Separation of Incitec Pivot Fertilisers COMPLETION COMPLETE Delivered 1 October 2025 distribution from Dyno Nobel Integration of Incitec Head Office relocated to Ridley corporate office Pivot Fertilisers into a INTEGRATION ON TRACK PMO1 establishe
Slide 17: Capital Allocation Framework
CAPITAL ALLOCATION FRAMEWORK OPERATING CASH FLOW Objectives of the Framework To ensure that Ridley: Maintenance & ESG Capital (~60 – 80% of Depreciation) and Working • Generates growing operating cashflows Capital • Sustains our assets • Manages our working capital needs Strong Balance Sheet • Maint
Slide 18: FY25 Financial Summary
FY25 FINANCIAL SUMMARY1 EBITDA (reported)2 Statutory NPAT EARNINGS GROWTH ― 8.6% EBITDA growth $97.8m $43.3m ― Increased earnings in both operating segments +8.6% YoY growth +8.7% YoY growth OPERATING CASH FLOW3 ROFE (underlying) DISCIPLINED CAPITAL MANAGEMENT ― Capital deployed in line with allocat
Slide 19: FY25 Strategic Summary
FY25 STRATEGIC SUMMARY Business Reset • Streamlined the business, exited lower returning operations (including the phased withdrawal from extruded aquafeed) and strengthened organisational capability, delivering a net cost savings of $5m¹ per annum from FY26 • Executed the sale of the Wasleys Feedmi
Slide 20: Capital Management – Net Debt
CAPITAL MANAGEMENT – NET DEBT Net Debt / (Cash) ($m) and Leverage (x EBITDA) 100 1.2x • Strong operating cash flow generated again in FY25 with 97% cash conversion 80 1.0x 0.8x • Net cash of $64m including capital raise 60 proceeds of $122m 0.6x 83 Capital 40 • Balance sheet strength and cashflows h
Slide 21: Year-to-Date Business Update
YEAR-TO-DATE BUSINESS UPDATE Bulk Stockfeeds Segment • Earnings growth from increased volumes more than offsetting the impact of the Wasleys Feedmill sale: – continued supplementary feeding of beef and sheep; – broiler and layer volumes returned to historical growth rates following the recovery from
Slide 22: Year-to-Date Business Update (cont.)
YEAR-TO-DATE BUSINESS UPDATE (CONT.) Packaged and Ingredients Segment VIC and SA Ovine weekly slaughter numbers • 1H margin pressure in Ingredient CY2024 CY2025 Recovery from: 400,000 – continuing low protein meal prices, as inventory surpluses remain in the Weekly ovine kills – VIC and SA market 35
Slide 23: Year-to-Date Business Update (cont.)
YEAR-TO-DATE BUSINESS UPDATE (CONT.) Fertiliser Segment • Contribution in line with expectations: – following a strong first month of trading in a low seasonal demand period; and – increased focus on costs • One-off items associated with the acquisition to be recognised in 1H LEADING TOGETHER Annual
Slide 24: Outlook
OUTLOOK In FY26, Ridley expects continued earnings1 growth from its diversified portfolio driven by: • modest growth in its underlying business (Bulk Stockfeeds and Packaged and Ingredients Segments), despite 1H headwinds in Ingredient Recovery, and • the investment case² earnings for the Fertiliser
Slide 25: 1. Financial Statements and Reports
To receive and consider the Financial Statements, 1. Financial the Directors’ Report and Statements and the Independent Auditor’s Report for the Company for Reports the financial year ended 30 June 2025. LEADING TOGETHER Annual General Meeting | 19 November 2025 20
Slide 26: 2. Remuneration Report
2. REMUNERATION REPORT To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That the Remuneration Report for the year ended 30 June 2025 be adopted.” PERCENTAGE OF VALID PERCENTAGE OF ALL ISSUED INSTRUCTION NUMBER SECURITIES VOTED SECURITIES FOR 232,532,634 86.8
Slide 27: 3. Re-election of Director
3. RE-ELECTION OF DIRECTOR To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That Julie Raffe, a Director retiring from office by rotation in accordance with rule 49 of the Company’s Constitution, being eligible, be re-elected as a Director of the Company.” P
Slide 28: 4. Issue of Performance Rights to Managing Director
4. ISSUE OF PERFORMANCE RIGHTS TO MANAGING DIRECTOR To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That the Company approves, for the purposes of ASX Listing Rule 10.14 and for all other purposes, the issue to the Company’s Managing Director and Chief Exec
Slide 29: 5. Issue of Special Purpose Performance Rights to Managing Director
5. ISSUE OF SPECIAL PURPOSE PERFORMANCE RIGHTS TO MANAGING DIRECTOR To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That the Company approves, for the purposes of Listing Rule 10.14 and for all other purposes, the issue to the Company’s Managing Director an
Slide 30: 6. Issue of Performance Rights on Stretch Performance Criteria
6. ISSUE OF PERFORMANCE RIGHTS ON STRETCH PERFORMANCE CRITERIA TO MANAGING DIRECTOR To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That the Company approves, for the purposes of ASX Listing Rule 10.14 and for all other purposes, the issue to the Company’s
Slide 31: 7. Ratification of Issue of Shares
7. RATIFICATION OF ISSUE OF SHARES To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That for the purposes of Listing Rule 7.4 and for all other purposes, shareholders ratify the prior issue of 16,509,434 fully paid ordinary shares at an issue price of $2.12
Slide 32: 8. Ratification of Issue of Vendor Notes
8. RATIFICATION OF ISSUE OF VENDOR NOTES To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That for the purposes of Listing Rule 7.4 and for all other purposes, shareholders ratify the issue of $50 million of Vendor Notes to Dyno Nobel Limited and, subject to
Slide 33: 9. Giving of Financial Assistance in Connection with the Acquisition
9. GIVING OF FINANCIAL ASSISTANCE IN CONNECTION WITH THE ACQUISITION To consider and, if thought fit, pass the following resolution as a special resolution: “That for the purpose of sections 260A and 260B(2) of the Corporations Act and for all other purposes, shareholder approval is given for: • the
Slide 34: 9. Giving of Financial Assistance (voting results)
9. GIVING OF FINANCIAL ASSISTANCE IN CONNECTION WITH THE ACQUISITION PERCENTAGE OF VALID PERCENTAGE OF ALL ISSUED INSTRUCTION NUMBER SECURITIES VOTED SECURITIES FOR 265,707,296 98.93% 70.88% AGAINST 866,511 0.32% 0.23% OPEN – USABLE 2,013,150 0.75% 0.54% TOTAL 268,586,957 100.00% 71.65% ABSTAIN 330,
Slide 35: Voting results release
The voting results for all of today’s resolutions will be released to the ASX and also made available on the Ridley website after the conclusion of the meeting. LEADING TOGETHER Annual General Meeting | 19 November 2025 30
Slide 36: Disclaimer
The material in this presentation is general background information about the activities of Ridley Corporation Limited and its related entities (Ridley), current at the date of this presentation, unless otherwise stated. It is information given in summary form and does not purport to be complete. It
Slide 37: LEADING TOGETHER Annual General Meeting | 19 November 2025
LEADING TOGETHER Annual General Meeting | 19 November 2025 32