LGI (LGI) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees, acknowledged traditional land owners, and introduced board members, executives, auditors, and share registry representatives.

• Confirmed quorum and declared the meeting open, outlining the agenda and process for the hybrid meeting.

• Chairman and Managing Director delivered opening addresses, outlining the agenda and formal business for the meeting.

• Presenters included Chairman Vik Bansal and Managing Director Adam Bloomer, both with extensive industry experience.

Financial performance review

• Net revenue increased to $30.9M in FY24, with underlying EBITDA margin at 47%.

• Statutory NPAT margin reached 22% in FY24, with operating cash flow at $7.0M.

• Reported strong financial results, continuing commitments made at IPO, with growth in carbon credits, generation assets, and certificates.

• Commissioned first battery at Bunya site, achieving a 70% revenue uplift and high asset utilization.

• FY 2025 guidance projects underlying EBITDA growth of 12%-15% over FY 2024, subject to macro dynamics.

Board and executive committee updates

• Board comprises Vik Bansal (Chair), Adam Bloomer (Managing Director), Abigail Cheadle, Andrew Peters, Dr. Jessica North, and Timothy McGavin.

• Board and management credited for strong performance and stakeholder service.

• Board recommended and re-election of directors Vik Bansal and Andrew Peters, highlighting their industry experience and value; re-elections passed with over 99% approval.