PWR (PWH) AGM 2025 summary

Opening remarks and agenda

• AGM opened at new global headquarters, with acknowledgment of First Nations people and a welcome to in-person and webcast attendees.

• Notice of meeting was distributed on 8 September 2025, proxies received from 331 shareholders representing 42% of issued capital.

• Introduction of board members, management, auditors, bankers, lawyers, and share registry representatives.

Board and executive committee updates

• Kees Weel retires as Managing Director, stands for election as Non-Executive Director and Chairman.

• Matthew Bryson serves as Acting CEO; a global search for a permanent CEO is underway, with emphasis on cultural alignment.

• Christian appointed as Lead Independent Director to strengthen governance.

• Lisa Dalton retires as Company Secretary, succeeded by Alexandra Coleman.

• Board skills and composition to be reassessed after CEO appointment.

Financial performance review

• FY 2025 revenue down 6.7% to AUD 30.1 million, in line with guidance; EBITDA and NPAT declined due to OEM contract completions, relocation costs, and growth investments.

• Cash conversion remained robust, balance sheet strong with modest leverage.

• Aerospace and defense revenue grew 28% YoY; motorsports revenue increased, while OEM and aftermarket declined.

• 21% growth in emerging technology revenue; team turnover improved by 9 percentage points.

• Q1 FY 2026 revenue up 6% YoY despite power connection delays; strong order book for motorsports and A&D.