Graincorp Limited Class A · ASX:GNC
Graincorp Limited Class A — Shareholder Meeting (February 2026)
42 slides from Graincorp Limited Class A's shareholder meeting presentation, Feb 18, 2026
Slide 1: Annual General Meeting Addresses and Presentation
GrainCorp Limited The Manager ABN 60 057 186 035 Company Announcements Office Level 20, Tower 2, International Towers 200 Barangaroo Avenue ASX Limited Sydney NSW 2000 Australia 20 Bridge Street t +61 2 9325 9100 SYDNEY NSW 2000 f +61 2 9325 9180 graincorp.com.au 18 February 2026 For personal use on
Slide 2: GrainCorp FY25 AGM – Chairman's Address
GrainCorp FY25 AGM – Chairman’s Address Good morning everyone, and welcome to GrainCorp’s Annual General Meeting for FY25. My name is Peter Richards, and I am the Chairman and Non-executive Director of our company. This morning, I will provide a brief review of GrainCorp’s recent performance and our
Slide 3: Sustainability and Board
Sustainability Let’s turn to Sustainability now, which is a cornerstone of GrainCorp’s strategy and a fundamental part of how we engage with our stakeholders. FY25 was another pivotal year for GrainCorp’s sustainability journey with the release of our validated science-based emissions reduction targ
Slide 4: Operating environment and Conclusion
Operating environment Before I finish, I would like to make some comments on the operating environment. From my time as a Director of GrainCorp, I can attest to the resilience of the business in responding to cyclical market conditions. Our business has withstood droughts, floods, a global pandemic
Slide 5: GrainCorp FY25 AGM – Managing Director & CEO's Address
GrainCorp FY25 AGM – Managing Director & CEO’s Address Introduction I would like to start by echoing Peter’s sentiment and provide more context on the current operating environment impacting our FY26 outlook. We are currently experiencing a cyclical oversupply of grain globally, which is keeping pri
Slide 6: Delivering on strategy
Our Nutrition and Energy segment increased crush volumes to 557kmt, although this was offset by lower crush margins. It was another year of growth for our Animal Nutrition business, which achieved sales volumes of 713kmt, compared to 517kmt in FY24. Delivering on strategy GrainCorp’s strategy drives
Slide 7: Harvest and global operating environment
After an excellent start to the harvest in northern Queensland, the winter harvest was more prolonged than prior years because of unfavourable weather interruptions. As of this week, we have received 10.6mmt of grain into our network during the 2025-26 harvest period. Year-to-date export volumes are
Slide 8: Confidence in through-the-cycle earnings
Confidence in through-the-cycle earnings I would like to take a moment to remind everyone of GrainCorp’s track record of generating earnings through-the- cycle. As the chart shows, across FY20-25 we have delivered an average of $423 million in EBITDA, excluding payments against our Crop Production C
Slide 9: Annual General Meeting
For personal use only Annual General Meeting For the year ending 30 September 2025 18 February 2026 This release has been authorised by the Board of GrainCorp Limited
Slide 10: Disclaimer
Disclaimer For personal use only This presentation includes both information that is historical in character and information that consists of forward-looking statements. Forward-looking statements are based on current expectations of future results or events. The forward-looking statements are subje
Slide 11: Acknowledgement of Country
Acknowledgement of Country For personal use only GrainCorp acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of Australia and embraces the spirit of reconciliation, working towards the equality of outcomes and ensuring an equal voice. This artwork was created by Lani Ba
Slide 12: Board of Directors
Board of Directors Retiring today New appointees Nominated for election For personal use only Peter Richards Kathy Grigg AM John Maher Samantha Hogg Independent NED Independent NED Independent NED Independent NED Chair Audit & Risk Committee People, Safety & Culture Incoming Audit & Risk Chair Commi
Slide 13: GrainCorp FY25 AGM
GrainCorp FY25 AGM For personal use only Speakers Agenda Peter Richards Chairman’s Address Chairman Managing Director & CEO’s Address Items of Business Robert Spurway Managing Director and CEO 5
Slide 14: Chairman's Address
Chairman’s Address For personal use only Yelarbon, Queensland
Slide 15: Managing Director & CEO's Address
Managing Director & CEO’s Address For personal use only
Slide 16: Health and safety
Health and safety Focus on continuous improvement as we strive for ‘zero-harm’ For personal use only Health and safety performance • Recordable injury frequency rate(1) of 5.5 • Lost time injury frequency rate(2) of 3.0 FY25 progress • Strengthened our Critical Risk Framework • Reduced critical risk
Slide 17: Sustainability
Sustainability Meeting growing consumer demand for sustainable supply chains Validation of SBTi climate targets Building resilient, low-carbon supply chains Reducing our environmental impact For personal use only • Driving science-based climate action with • GrainCorp Next is a sustainable agricultu
Slide 18: FY25 highlights
FY25 highlights Disciplined performance in a volatile global environment For personal use only Financial metrics Underlying EBITDA(1) Underlying NPAT(2,3) Core cash Total dividends $308m $87m $321m 48cps FY24: $268m FY24: $77m FY24: $337m FY24: 48cps Operating metrics Total grain handled(4) Bulk mat
Slide 19: GrainCorp's vision and strategy
GrainCorp’s vision and strategy Delivering sustainable growth through-the-cycle For personal use only 11
Slide 20: Macro trends supporting GrainCorp's strategy
Macro trends supporting GrainCorp’s strategy Attractive long-term fundamentals underpinning demand and earnings growth Population growth and changing demographics Diverse and attractive end markets For personal use only Forecast population growth of Australia’s 20 largest grain Australian grain indu
Slide 21: Our strategy in action
Our strategy in action Positioning GrainCorp for success today and into the future Enhance • Investment in sites at Condobolin and Burren For personal use only Junction to improve storage and efficiency Driving returns from our integrated footprint of • Increase in non-grain bulk materials volumes a
Slide 22: Outlook
For personal use only Outlook
Slide 23: 2025-26 Harvest update
2025-26 Harvest update Strong production across ECA For personal use only • Crops in Queensland and northern NSW were strong. However, these were contrasted by more variable conditions in Victoria and southern NSW • Several weather-related interruptions resulted in a protracted harvest • ABARES Dece
Slide 24: Global grain environment
Global grain environment Cyclical oversupply creating a constrained margin environment for grain handlers Macro context Global wheat supply and demand(1) For personal use only 850 35% 30% Strong production in key growing regions leading to current global 800 Million metric tonnes 25% oversupply of g
Slide 25: Earnings Outlook
Earnings Outlook Oversupply of grain limiting market engagement and constraining margin opportunities FY26 earnings guidance (announced on 2 February 2026) For personal use only FY26 grain volume assumptions (mmt) • Underlying EBITDA of $200-240 million Carry-in (at 1 Oct 2025) 2.3 • Underlying NPAT
Slide 26: Delivering sustainable earnings through the cycle
Delivering sustainable earnings through the cycle GrainCorp earnings profile from FY20-25(1) excluding impact of Crop Production Contract (CPC) Underlying EBITDA FY20-25 excluding CPC(2) For personal use only Underlying EBITDA excl. CPC ($m) FY20-25 Avg. Underlying EBITDA excl. CPC ($m) Average earn
Slide 27: Our investment proposition
Our investment proposition Providing exposure to the growing global demand for high-quality food, feed and agri-energy products For personal use only Attractive long-term fundamentals Strategic infrastructure assets Supply chain resilience Strong balance sheet Disciplined capital management Track re
Slide 28: Business of the AGM
For personal use only Business of the AGM
Slide 29: Business of the AGM
Business of the AGM For personal use only For consideration Item 1: Consideration of Financial Statements and Reports Ordinary resolutions Item 2: Adoption of the Remuneration Report Item 3a: Election of Ms Samantha Hogg Item 3b: Election of Ms Sarah Adam-Gedge Item 4: FY26 Grant of Performance Righ
Slide 30: Online voting and Questions
Online voting and Voting Online Asking Questions Online Questions LODGING YOUR VOTES ASKING QUESTIONS For personal use only Only Shareholders and Click “Get a Voting Card” Click on “Ask a Question” Proxyholders are able to ask (top and bottom of platform) questions Enter your SRN/HIN or Select “Gene
Slide 31: Consideration of the Financial Statement and Reports
Item 1 Consideration of the Financial Statement and Reports For personal use only To receive and consider the financial report (which includes the financial statements and the Directors’ Report and Auditor’s Report) for GrainCorp for the financial year ended 30 September 2025. Note: No resolution is
Slide 32: Adoption of the Remuneration Report
Item 2 Adoption of the Remuneration Report For personal use only To consider and, if thought appropriate, pass the following resolution as an ordinary resolution: “That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, the Remuneration Report (which forms part
Slide 33: Adoption of the Remuneration Report: Proxy and direct votes
Item 2 Adoption of the Remuneration Report For personal use only Proxy and direct votes – Item 2: FOR OPEN AGAINST TOTAL Votes 130,258,668 509,335 4,504,209 135,272,212 % vote 96.3% 0.4% 3.3% 62.3% of issued capital The Chairman of the Meeting will be voting all open proxies in favour of the resolut
Slide 34: Election of Ms Samantha Hogg
Item 3a Election of Ms Samantha Hogg For personal use only To consider and, if thought appropriate, pass the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rules 14.4, article 11.3(a) of the Constitution and for all other purposes, Ms Samantha Hogg, appointed
Slide 35: Election of Ms Samantha Hogg: Proxy and direct votes
Item 3a Election of Ms Samantha Hogg For personal use only Proxy and direct votes – Item 3a: FOR OPEN AGAINST TOTAL Votes 132,259,224 523,054 3,162,819 135,945,097 % vote 97.3% 0.4% 2.3% 62.6% of issued capital The Chairman of the Meeting will be voting all open proxies in favour of the resolution 2
Slide 36: Election of Ms Sarah Adam-Gedge
Item 3b Election of Ms Sarah Adam-Gedge For personal use only To consider and, if thought appropriate, pass the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rule 14.4, article 11.3(c) of the Constitution and for all other purposes, Ms Sarah Adam-Gedge, appoi
Slide 37: Election of Ms Sarah Adam-Gedge: Proxy and direct votes
Item 3b Election of Ms Sarah Adam-Gedge For personal use only Proxy and direct votes – Item 3b: FOR OPEN AGAINST TOTAL Votes 134,162,461 523,054 1,257,020 135,942,535 % vote 98.7% 0.4% 0.9% 62.6% of issued capital The Chairman of the Meeting will be voting all open proxies in favour of the resolutio
Slide 38: FY26 Grant of performance rights to Managing Director & CEO
Item 4 FY26 Grant of performance rights to Managing Director & CEO For personal use only To consider and, if thought appropriate, pass the following resolution as an ordinary resolution: “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval be given to grant 149,362 p
Slide 39: FY26 Grant of performance rights: Proxy and direct votes
Item 4 FY26 Grant of performance rights to Managing Director & CEO For personal use only Proxy and direct votes – Item 4: FOR OPEN AGAINST TOTAL Votes 131,596,198 523,830 3,328,997 135,449,025 % vote 97.2% 0.4% 2.5% 62.4% of issued capital The Chairman of the Meeting will be voting all open proxies
Slide 40: Poll voting
For personal use only Poll voting
Slide 41: Meeting closed
For personal use only Meeting closed
Slide 42: GrainCorp Limited
For personal use only GrainCorp Limited Level 20, Tower 2, International Towers 200 Barangaroo Avenue Sydney NSW 2000