Challenger Limited · ASX:CGF
Challenger — Shareholder Meeting (October 2025)
33 slides from Challenger's shareholder meeting presentation, Oct 30, 2025
Slide 1: Annual General Meeting Chair and CEO addresses
Market Release 30 October 2025 Annual General Meeting Chair and CEO addresses Challenger Limited (ASX:CGF) is today holding its 2025 Annual General Meeting (AGM), beginning at 9:30am (Sydney time). The AGM will be held as a hybrid meeting, which means shareholders can attend in person at the Wesley
Slide 2: Chair address introduction
Also shown was ‘Diamond Moments’ from last year’s season. These shots, which are marked with the Challenger brand, are a celebration of the standout shots that define a tournament. My name is Duncan West and I am the Chair of your Company, Challenger Limited, and the Chair of today’s meeting. It is
Slide 3: Meeting format and voting procedures
Then, I will hand over to Nick, who will provide an overview of Challenger’s achievements and progress in its strategy. We will then move to the formal items of business for the meeting. You will hear from John Somerville and David Whittle as they seek election today. We will be opening the floor to
Slide 4: Voting instructions
For any person voting using their mobile device or voting online, to cast your vote simply select one of the options for each item of business. There is no need to hit a submit or enter button as your vote is automatically recorded. You will receive a vote confirmation notification on your screen. I
Slide 5: Operating environment and retirement reform
At the same time the broader operating environment remains dynamic. Interest rates have normalised from the post-COVID lows and has supported pricing and demand for income products. At the same time, cost of living pressures remain front of mind for many in our community, especially retirees. Over t
Slide 6: Momentum in retirement market development
Taken together, these steps show real momentum in the development of a mature retirement system. The important task now is to complete this reform agenda, and Challenger is committed to playing its part – working with government, regulators and industry to ensure these changes deliver for retirees.
Slide 7: Board changes and remuneration
At the same time, we said farewell to JoAnne Stephenson who retired after more than a decade of service. JoAnne’s experience and dedication have been greatly valued, and she has made a significant contribution to Challenger throughout her tenure. I also want to acknowledge Kobayashi-san who stepped
Slide 8: Policy advocacy and sustainability
We continue to be strong advocates of reforms and policy settings that contribute to a stronger retirement income system. This year, we participated in a range of activities advocating for reforms that will help provide Australians with financial security in retirement, including APRA’s consultation
Slide 9: Chair remarks and handover
To my fellow Directors, thank you for your guidance and oversight. Finally, I want to thank Nick, the Leadership Team and our employees, for their hard work and commitment to delivering on our purpose. To our customers, thank you for your trust. I will now hand over to Nick Hamilton, our CEO and Man
Slide 10: Chief Executive Officer address
Chief Executive Officer Address Introduction Thank you, Duncan, and good morning everyone. It is a pleasure to speak with you today and provide an update on our achievements in 2025 and the opportunities ahead. I believe success will come from continuing to deliver on our purpose and achieving great
Slide 11: FY25 achievements
FY25 achievements Turning now to FY25 achievements. 2025 has been another year of strong performance, strategic progress and delivery against our targets. This reflects our decision to focus on our core strengths: retirement, investment management and asset origination. With our digital transformati
Slide 12: Share register and community support
2025 also saw changes to our share register. We welcome TAL Dai-ichi as a strategic shareholder, a business very much aligned to our strategy and our core purpose of delivering secure and reliable income streams to customers. We look forward to building a relationship with TAL Dai-ichi that will ben
Slide 13: About Challenger
About Challenger Challenger Limited (Challenger) is an investment management firm focused on providing customers with financial security for a better retirement. Challenger operates a fiduciary Funds Management division and an APRA-regulated Life division. Challenger Life Company Limited (Challenger
Slide 14: Annual General Meeting
Annual General Meeting 2025 30 October 2025 challenger £3 Life. Well lived.
Slide 15: Acknowledgement of country
Acknowledgement of country Challenger acknowledges the Traditional Owners of Country throughout Australia and we pay our respects to Elders past and present. We recognise the continuing connection that Aboriginal and Torres Strait Islander peoples have to this land and acknowledge their unique and r
Slide 16: Duncan West
Duncan West Independent Non-Executive Director and Chair
Slide 17: Governance
Governance Highly capable and experienced Board Duncan West Nick Hamilton David Whittle Melanie Willis INDEPENDENT NON-EXECUTIVE M AN AG I N G D I R E C T O R AN D INDEPENDENT NON-EXECUTIVE INDEPENDENT NON-EXECUTIVE D I R E C T O R AN D C H AI R CHIEF EXECUTIVE OFFICER DIRECTOR DIRECTOR Appointed: 1
Slide 18: Executive team
Executive team Delivering value for customers, employees and shareholders Nick Hamilton Alex Bell Anton Kapel Victor Rodriguez M AN AG I N G D I R E C T O R AN D C H I E F F I N AN C I AL CHIEF EXECUTIVE, CHIEF EXECUTIVE, CHIEF EXECUTIVE OFFICER OFFICER I N S U R AN C E F U N D M AN AG E M E N T Yea
Slide 19: Duncan West
Duncan West Independent Non-Executive Director and Chair
Slide 20: Participating in the AGM
Participating in the AGM Asking a question online Written • Select the Q & A icon on your screen • Type your question into the chat box at the bottom of the screen and press ‘Send’ Verbally • Follow the instructions on the virtual meeting platform 7
Slide 21: Participating in the AGM
Participating in the AGM Casting your vote TO ACCESS VOTING • in person - scan the QR code on the blue attendance card and accept the terms and conditions • online - select the vote icon • To vote, tap one of the voting options for each item of business: FOR, AGAINST or ABSTAIN and your vote will be
Slide 22: The retirement opportunity
The retirement opportunity World class accumulation system with significant retirement savings Challenge to turn retirement savings into secure regular income WORLD CLASS GROWING RETIREMENT DEMAND FOR SUPERANNAUTION SYSTEM MARKET FINANCIAL SECURITY Projected Australian superannuation Projected asset
Slide 23: Retirement reform
Retirement reform Industry focused on introducing greater income security and peace of mind GOVERNMENT OBJECTIVES Enhancing retirement R E G U L AT O R Y O B J E C T I V E S outcomes Increasing availability of I N D U S TRY OB J E C TI V E S Retirement Income retirement income products Covenant Prom
Slide 24: FY25 financial performance
FY25 financial performance Delivering strong growth and shareholder returns P R O F I TA B I L I T Y RETURNS Normalised NPAT Normalised ROE1 $ 456 million 9% 11.8 % 110bps Statutory NPAT Full year dividend $ 192 million 48% 29.5 cps 11% All growth rates compare the year ended 30 June 2025 against th
Slide 25: Election of Directors
Election of Directors Strengthening the Board’s capability John Somerville David Whittle INDEPENDE NT NO N- EX ECUT IVE INDEPENDE NT NO N- EX ECUT IVE DIRECT O R DIRECT O R Appointed: 17 June 2025 Appointed: 17 June 2025 12
Slide 26: Sustainability
Sustainability Progressing our ESG journey C L I M AT E R I S K GENDER POLICY COMMUNITY W O R K P R O G R AM DIVERSITY AD V O C AC Y PAR T N E R S H I P S Established Achieved gender Advocated for Partnered with program to align diversity targets reforms that Women Up North with mandatory across con
Slide 27: Looking ahead
Looking ahead Creating long-term value for shareholders, customers, employees and the community Deepen partnerships across retirement market Improve customer experience Invest in core business and opportunities to scale Continue to engage with government and participate in reform agenda 14
Slide 28: Duncan West
Duncan West Independent Non-Executive Director and Chair
Slide 29: Nick Hamilton
Nick Hamilton Managing Director and Chief Executive Officer
Slide 30: Retirement is not a single life event
Retirement is not a single life event - it evolves over time Australians are living longer driving need for financial security SAVING SPENDING FOR RETIREMENT IN RETIREMENT Starting out Working Paying off debt Accumulating wealth Starting retirement Travelling Downsizing Aged care FUNDS MANAGEMENT On
Slide 31: FY25 achievements
FY25 achievements Successfully executing our strategy Retirement Investment Talented team leader excellence and capability 20 years Delivered Re-platfoming retirement Investment excellence in customer partnerships private credit markets technology Enhanced brand Migrating sponsorship strategy LiFTs
Slide 32: Supporting our communities
Supporting our communities Strengthening local community partnerships Supporting women, children and Supporting food entrepreneurs young people in Northern NSW experiencing from marginalised communities domestic and family violence Financial contribution for outdoor garden initiatives helping suppor
Slide 33: Important note
IMPORTANT NOTE The material in this presentation is general background information about Challenger Limited This document may contain certain ‘forward-looking statements’. The words ‘forecast’, ‘expect’, ‘guidance’, group’s activities and is current at the date of this presentation. It is informatio