Graincorp Limited Class A · ASX:GNC
Graincorp Limited Class A — Shareholder Meeting (February 2026)
34 slides from Graincorp Limited Class A's shareholder meeting presentation, Feb 18, 2026
Slide 1: Annual General Meeting
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 2: Disclaimer
Disclaimer 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 subject to risks, stakehold
Slide 3: Acknowledgement of Country
Acknowledgement of Country 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 Balzan, a proud Aborigin
Slide 4: Board of Directors
Board of Directors Retiring today New appointees Nominated for election 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 Committee Chair Committee C
Slide 5: GrainCorp FY25 AGM
GrainCorp FY25 AGM Speakers Agenda Peter Richards Chairman’s Address Chairman Managing Director & CEO’s Address Items of Business Robert Spurway Managing Director and CEO 5
Slide 6: Chairman's Address
Chairman’s Address Yelarbon, Queensland
Slide 7: Managing Director & CEO's Address
Managing Director & CEO’s Address
Slide 8: Health and safety
Health and safety Focus on continuous improvement as we strive for ‘zero-harm’ 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 incidents in previous
Slide 9: 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 • Driving science-based climate action with • GrainCorp Next is a sustainable agriculture • >2.5% energy effi
Slide 10: FY25 highlights
FY25 highlights Disciplined performance in a volatile global environment 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 materials handled(5) Oils
Slide 11: GrainCorp's vision and strategy
GrainCorp’s vision and strategy Delivering sustainable growth through-the-cycle 11
Slide 12: 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 Forecast population growth of Australia’s 20 largest grain Australian grain industry export destinatio
Slide 13: 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 Junction to improve storage and efficiency Driving returns from our integrated footprint of • Increase in non-grain bulk materials volumes and infrastructure and
Slide 14: Outlook
Outlook
Slide 15: 2025-26 Harvest update
2025-26 Harvest update Strong production across ECA • 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 December estimates for 202
Slide 16: Global grain environment
Global grain environment Cyclical oversupply creating a constrained margin environment for grain handlers Macro context Global wheat supply and demand(1) 850 35% 30% Strong production in key growing regions leading to current global 800 Million metric tonnes 25% oversupply of grain 20% 750 15% 10% 7
Slide 17: Earnings Outlook
Earnings Outlook Oversupply of grain limiting market engagement and constraining margin opportunities FY26 earnings guidance (announced on 2 February 2026) FY26 grain volume assumptions (mmt) • Underlying EBITDA of $200-240 million Carry-in (at 1 Oct 2025) 2.3 • Underlying NPAT of $20-50 million Rec
Slide 18: Delivering sustainable earnings through the cycle
Delivering sustainable earnings through the cycle GrainCorp earnings profile from FY20-25(1) excluding impact of Crop Production Contract (CPC) Underlying EBITDA FY20-25 excluding CPC(2) Underlying EBITDA excl. CPC ($m) FY20-25 Avg. Underlying EBITDA excl. CPC ($m) Average earnings through-the-cycle
Slide 19: Our investment proposition
Our investment proposition Providing exposure to the growing global demand for high-quality food, feed and agri-energy products Attractive long-term fundamentals Strategic infrastructure assets Supply chain resilience Strong balance sheet Disciplined capital management Track record of shareholder re
Slide 20: Business of the AGM
Business of the AGM
Slide 21: Business of the AGM
Business of the AGM 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 Rights to the Managing Dir
Slide 22: Online voting and Questions
Online voting and Voting Online Asking Questions Online Questions LODGING YOUR VOTES ASKING QUESTIONS 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 “General Business” Proxy Nu
Slide 23: Item 1 Consideration of the Financial Statement and Reports
Item 1 Consideration of the Financial Statement and Reports 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 required for this ite
Slide 24: Item 2 Adoption of the Remuneration Report
Item 2 Adoption of the Remuneration Report 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 of the Directors’ Repo
Slide 25: Item 2 Adoption of the Remuneration Report
Item 2 Adoption of the Remuneration Report 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 resolution Note: The vote on
Slide 26: Item 3a Election of Ms Samantha Hogg
Item 3a Election of Ms Samantha Hogg 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 by the Board as a Dire
Slide 27: Item 3a Election of Ms Samantha Hogg
Item 3a Election of Ms Samantha Hogg 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 27
Slide 28: Item 3b Election of Ms Sarah Adam-Gedge
Item 3b Election of Ms Sarah Adam-Gedge 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, appointed by the Board as a
Slide 29: Item 3b Election of Ms Sarah Adam-Gedge
Item 3b Election of Ms Sarah Adam-Gedge 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 resolution 29
Slide 30: Item 4 FY26 Grant of performance rights to Managing Director & CEO
Item 4 FY26 Grant of performance rights to Managing Director & CEO 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 performance rights unde
Slide 31: Item 4 FY26 Grant of performance rights to Managing Director & CEO
Item 4 FY26 Grant of performance rights to Managing Director & CEO 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 in favour of the resol
Slide 32: Poll voting
Poll voting
Slide 33: Meeting closed
Meeting closed
Slide 34: GrainCorp Limited
GrainCorp Limited Level 20, Tower 2, International Towers 200 Barangaroo Avenue Sydney NSW 2000