Regal Partners (RPL) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum and attendance of board, auditors, and share registry representatives.

• Hybrid format enabled participation in person, online, and by phone, with clear instructions for voting and questions.

• Chairman Michael Cole AM and CEO Brendan O'Connor delivered addresses outlining the meeting's focus on financial performance, strategic growth, and recent acquisitions.

• Agenda included introductory addresses, group update, formal resolutions, Q&A, and voting.

Financial performance review

• Average funds under management (FUM) grew 141% to AUD 14.4 billion in 2024, with record net inflows of AUD 1.9 billion.

• FUM grew from $11.0bn to $18.0bn (+64%) in 2024.

• Revenue rose 151% to AUD 281 million; normalised net profit after tax increased 198% to AUD 97.5 million.

• Fully franked dividends per share increased 80% to 18cps, with a payout ratio of ~72%.

• Management fees up 147%, performance fees up 239%, and pre-tax profit margin improved by 10 percentage points to 52%.

• Balance sheet remains strong with over AUD 230 million in cash and investments at end of 2024.

Board and executive committee updates

• Jaye Gardner and Sarah Dulhunty stood for re-election, highlighting their experience and commitment to governance.

• Board supported both re-elections, with proxy votes showing strong but not unanimous support.

• Executive team highlighted successful integration of Taurus Funds Management, PM Capital, Merricks Capital, and Argyle Group.