Amaero (3DA) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum, acknowledgment of board members, auditors, and share registry representatives, and was held on October 29, 2024.

• Lucy Robb Wujek announced her resignation from the board, effective at the close of the AGM.

• Virtual participation enabled via Zoom, with clear instructions for Q&A and voting.

• Agenda included Chairman and CEO's presentation, formal business, and other business, with a focus on reviewing past milestones and outlining future plans.

Financial performance review

• Fiscal year 2024 described as eventful, with significant progress and expectations for further milestones in 2025.

• Reported first quarter with material revenue exceeding $1 million, including $600,000 from powder sales and $450,000 from PM HIP manufacturing.

• Received approximately AUD 800,000 in government grant funding and $1.1 million in awards supporting the submarine industrial base.

• Announced multiple capital raises: A$10M placement, A$20M institutional raise, and an upsized A$25M placement.

• Guidance provided for scaling revenue in the back half of FY25, with EBITDA loss expected in line with FY24 and breakeven targeted for FY26.

Board and executive committee updates

• Lucy Robb Wujek thanked for her service and confirmed not standing for re-election.

• All non-executive directors, except Lucy Robb Wujek, stood for re-election; Alistair Cray nominated as a new director.

• Eric Bono appointed as President & CTO.

• Lieutenant General (ret.) H.R. McMaster joined as special advisor to the Chairman and CEO.