G8 Education (GEM) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land custodians and respect for Aboriginal and Torres Strait Islander peoples.

• Introduction of board members, CEO, auditor, and company secretary; agenda included financial statements, director elections, executive remuneration, and shareholder proposals.

Financial performance review

• Statutory EBIT increased by 14.8% to AUD 152.8 million, with net profit after tax at AUD 67.7 million for 2024.

• Group occupancy for 2024 reached 70.7%, with a spot occupancy of 64.7% as of April 2025.

• 2024 Short-Term Incentive Plan achieved 80.17% of target, with operating NPBT slightly above target and most non-financial KPIs met or nearly met.

• 2021 Long-Term Incentive Plan did not meet EPS growth conditions and lapsed; 2022 plan will vest in 2025.

• Agency staff usage reduced from 3-4% to 0.3% of hours due to improved recruitment and retention.

Board and executive committee updates

• Stephen Heath welcomed and re-elected as a non-executive director; board skills and recruitment process discussed.

• Board consists of Debra Singh (Chair), Pejman Okhovat (Managing Director & CEO), and several non-executive directors.

• Adjustments to CEO and COO remuneration approved in 2024; no increase for CFO.

• Board skills matrix reviewed annually, with consideration for publishing more detail in future.