Cobram Estate Olives (CBO) AGM 2025 summary

Opening remarks and agenda

• Welcomed 163 shareholders and staff, outlined meeting structure, and introduced directors and key executives.

• Meeting opened with a Chair's address, followed by FY25 results, business operations and growth strategy updates, formal business, Q&A, and closing remarks.

• Meeting included presentations, formal business, Q&A, facility tour, and lunch.

Financial performance review

• Achieved record EBITDA of AUD 116.6 million, up 74.8% from FY24, and net profit after tax of AUD 49.6 million, up 167.8%.

• Operating cash flow before interest and tax reached AUD 83 million, up nearly 30%.

• Group olive oil sales revenue reached AUD 237.4 million, a 17.5% increase, with Australian branded sales up 16.6% and U.S. branded sales up 101%.

• Net assets reported at AUD 446 million, with gross assets adjusted to AUD 980 million; net debt ratio increased to 32.7% due to U.S. expansion investments.

• Significant investment of over AUD 250 million in growth CapEx over five years, mainly in Australia and the U.S.

Board and executive committee updates

• Introduced board members, including re-election of Toni Brendish and Leandro Ravetti, both supported by non-candidate directors.

• Joint-CEO Leandro Ravetti relocated to the U.S. in September 2025 to oversee grove acquisitions and development.