Bhagwan Marine Ltd. · ASX:BWN
Bhagwan Marine — Shareholder Meeting (October 2026)
34 slides from Bhagwan Marine's shareholder meeting presentation, Oct 23, 2026
Slide 1: 2026 AGM Chairman's Address, MD Presentation, Proxy Summary and Trading Update
ASX Announcement 23 October 2026 For personal use only 2026 AGM – The Chairman’s Address and the Managing Director’s Presentation to AGM, Proxy Summary and Trading Update Bhagwan Marine Limited (ASX: BWN) (the Company) provides, in accordance with ASX Listing Rule 3.13.3, a copy of the Chairman’s Ad
Slide 2: About Bhagwan Marine Limited
For personal use only About Bhagwan Marine Limited Bhagwan Marine is Australia’s largest listed marine solutions company, serving the Offshore Energy & Resources, Ports & Inshore and Defence sectors. The Company operates a large multi-functional fleet supporting marine operations nationally. Bhagwan
Slide 3: 2026 Chairman's Address
2026 Chairman’s Address For personal use only Anthony Wooles 2026 Annual General Meeting, 23 October 2026 Slide 5 – CHAIRMAN’S ADDRESS Before moving to the formal business of the meeting, I would like to briefly reflect on FY26, the progress we have made as a public company, the strength of Bhagwan’
Slide 4: Chairman's Address (continued)
For personal use only This included embedding the Chief Operating Officer function, strengthening our business development capabilities and making further improvements to our accounting, human resources, governance and reporting systems. We also maintained a strong focus on cost and margin disciplin
Slide 5: Chairman's Address and Acknowledgements
For personal use only We have already demonstrated through our involvement in decommissioning how substantial individual projects can become, while defence is presenting increasingly tangible opportunities. Importantly, we do not need those opportunities to underpin the strength of Bhagwan today. Th
Slide 6: 2026 Annual General Meeting
2026 Annual General rsonal use only Meeting 2 3 OCTOB E R 2 0 2 6
Slide 7: Important Notice and Disclaimer
I M P O R TA N T N O T I C E A N D D I S C L A I M E R Authorisation of Release: This ASX announcement has been approved for release by the Board of Forward-looking statements involve inherent risks and uncertainties, both general and specific, and Bhagwan Marine Limited ABN 81 009 154 349 (“Bhagwan
Slide 8: Our Board of Directors
OUR BOARD OF DIRECTORS rsonal use only Anthony Wooles Loui Kannikoski Tracey Horton AO Andrew Wackett Chairman & Managing Director & Independent Executive Director - Finance Non-Executive Director Chief Executive Officer Non-Executive Director Appointed as Chair Founded and Managed Appointed as Inde
Slide 9: Agenda
AGENDA 2026 ANNUAL GENERAL MEETING rsonal use only Chairman’s Address Resolutions & Voting Close of 2026 Annual General Meeting MD & CEO Address Refreshments 4
Slide 10: Chairman's Address
rsonal use only Chairman’s Address
Slide 11: FY26 Financial Highlights
FY26 FINANCIAL HIGHLIGHTS RE S IL IE N T MA RGIN S A N D ST RO N G CA S H GE N E RAT IO N rsonal use only 235.9m 20% 40.0m 0.8cps $ $ NET REVENUE EBITDA MARGIN3 NET CASH FROM FULLY FRANKED OPERATIONS4 TOTAL DIVIDEND Down 16.6% on Up from 18% Up 9.6% on FY25 fully franked dividend FY25 $283.0m1 in FY
Slide 12: FY26 Operational Highlights
F Y 2 6 O P E R AT I O N A L H I G H L I G H TS B U ILDIN G ON SOLID BA SE FOR LON G -T ERM GROW T H rsonal use only Strengthened financial governance Embedded the COO Secured a five-year contract with and aligned overheads to enhance function and strengthened business Jadestone Energy for Coral Kni
Slide 13: How We Grow
HOW WE GROW COMPELLIN G OPPORT U NITIES FOR SU STAIN AB LE GROW T H Blue Sky rsonal use only Emerging Opportunities • Significant blue-sky opportunities Acquisitive Growth across decommissioning, defence and Proven Capability offshore energy, providing upside beyond the core investment case • Rivers
Slide 14: Resolutions & Voting
rsonal use only Resolutions & Voting Image: Rivtow Tugs
Slide 15: FY Annual Financial Statements and Reports
F Y 2 6 A N N U A L F I N A N C I A L S TAT E M E N T S A N D R E P O R T S TO REC EIVE T H E F Y 26 F IN A N C IA L STAT EMEN TS A N D REPO RT rsonal use only Pursuant to requirements of the Corporations Act, the Company is required to table at the meeting the Company’s 2026 Annual Report, which ha
Slide 16: Adoption of the Remuneration Report
RESOLUTION 1 A DO PT IO N O F T H E REMU N ERAT ION REPO RT To consider and, if appropriate, pass the following as an ordinary resolution: rsonal use only “That the Remuneration Report of the Company for the financial year ended 30 June 2026 be adopted.” Shares Percentage % For 84,787,836 99.35% Aga
Slide 17: Re-election of Mr Andrew Wackett as a Director
RESOLUTION 2 RE-ELECTION OF MR ANDREW WACKETT AS A DIRECTOR To consider and, if appropriate, pass the following as an ordinary resolution: rsonal use only “That Mr Andrew Wackett, a Director of the Company who retires in accordance with clause 47(b) of the Company's Constitution and ASX Listing Rule
Slide 18: Approval of Employee Incentive Awards Plan
RESOLUTION 3 APPROVAL OF EMPLOYEE INCENTIVE AWARDS PL AN To consider and, if appropriate, pass the following as an ordinary resolution: rsonal use only “That, for the purpose of ASX Listing Rule 7.2, Exception 13, section 260C(4) of the Corporations Act, and for all other purposes, Shareholders appr
Slide 19: Issue of Performance Rights to the Managing Director and CEO
RESOLUTION 4 ISSUE OF PERFORMANCE RIGHTS TO THE MANAGING DIRECTOR AND CEO, MR LOUI KANNIKOSKI To consider and, if appropriate, pass the following as an ordinary resolution: rsonal use only “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval is given to issue 674,788
Slide 20: Issue of Performance Rights to the Executive Director Finance
RESOLUTION 5 ISSUE OF PERFORMANCE RIGHTS TO THE EXECUTIVE DIRECTOR FINANCE, MR ANDREW WACKETT To consider and, if appropriate, pass the following as an ordinary resolution: rsonal use only “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval is given to issue 457,590
Slide 21: Issue of Performance Rights to the GM Corporate Services
RESOLUTION 6 IS S U E O F PERFO RMA N C E RIGH TS TO T H E GM CO RPO RAT E S ERVIC ES, MS KERREN KANNIKOSKI To consider and, if appropriate, pass the following as an ordinary resolution: rsonal use only “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval is given to
Slide 22: Issue of Performance Rights to the GM WA Operations
RESOLUTION 7 IS S U E O F PERFO RMA N C E RIGH TS TO T H E GM WA O PERAT IO N S, MR TOM KANNIKOSKI To consider and, if appropriate, pass the following as an ordinary resolution: rsonal use only “That, for the purpose of ASX Listing Rule 10.11 and for all other purposes, approval is given to issue 21
Slide 23: Close of 2026 Annual General Meeting
Close of 2026 rsonal use only Annual General Meeting 18 18 | bhagwanmarine.com
Slide 24: MD & CEO Presentation
rsonal use only MD & CEO Presentation
Slide 25: FY26 Riverside Marine Performance
FY26 RIVERSIDE MARINE PERFORMANCE S U STA IN E D GRO W T H A N D IN T EGRAT IO N O N T RAC K rsonal use only REVENUE PRO FORMA EBITDA 60.0 24.5 21.6 • 4Q FY26 revenue up 17% on pcp 17.9 • 4Q FY26 EBITDA up 30%1 on pcp 55.0 • Further EBITDA margin expansion 52.0 • 94% long-term recurring revenue in F
Slide 26: Strengthening Revenue Profile
STRENGTHENING REVENUE PROFILE IN C REA SIN G REC U RRIN G REVEN U E A S A PERC EN TAGE OF TOTA L rsonal use only • Riverside Marine contributed $15.1m in 283.0 revenue for FY26 post-acquisition, 268.8 277.2 26.4 increasing recurring revenue to 56% of 235.9 total revenue and 62% on an annualised 65.4
Slide 27: 1Q27 Update & Outlook
rsonal use only 1Q27 Update & Outlook
Slide 28: Strong Start to FY27
1 Q 2 7 U P DAT E ST RON G STA RT TO FY27 Core1 1Q Revenue rsonal use only 81.3 71.3 • Bhagwan 1Q27 revenue up 3% on 1Q26 and up 14% on 4Q26 17.6 15.5 • Riverside 1Q27 revenue up 6% on 1Q26 and up 14% on 4Q26 • Combined Bhagwan Group 1Q27 revenue up 32% on 1Q26 and up 14% on 4Q26 • Bhagwan Group rec
Slide 29: Positive Outlook
POSITIVE OUTLOOK COMPELLIN G OPPORT U NITIES FOR SU STAIN AB LE GROW T H Blue Sky rsonal use only Emerging Opportunities Acquisitive Growth • Significant WA decommissioning opportunities maturing (including Proven Capability Northern Endeavour and Barrow • Riverside Marine continuing to Island) Orga
Slide 30: Two Example Subsea Service Contracts Secured in 1Q27
TWO EXAMPLE SUBSEA SERVICE CONTRACTS SECURED IN 1Q27 rsonal use only Contract Value: Combined value of ~$9.5 million. Mobilisation: Aug – Nov 2026 Bhagwan’s role: Provision of diving and subsea inspection services using the Bhagwan Dryden – a purpose-built 57-metre ROV and air dive support vessel. “
Slide 31: Bhagwan Secures Multi-Year Contract for Riverside Guardian
B H A G W A N S E C U R E S M U LT I - Y E A R NEW CONTRACT CONTRACT FOR RIVERSIDE GUARDIAN Client: Tier 1 Energy Company rsonal use only Term: Two-year contract, with a two-year extension. Contract Value: Minimum committed value of ~$5.8 million with potential to generate up to $11.6 million Mobili
Slide 32: Riverside Industrial Sands
RIVERSIDE INDUSTRIAL SANDS LARGEST PROVIDER OF CONSTRUCTION SAND IN BRISBANE Two purpose built dredging vessels rsonal use only Strategic location – competitive and cost advantages Agreements with Brisbane’s largest concrete producers – average tenure of 8 – 10 years Large long-life resource base •
Slide 33: Summary: Key Takeaways
SUMMARY K E Y TA K E AWAYS – ST RO N G STA RT TO F Y 2 7 rsonal use only Strong start to FY27 – Combined group revenue up 32% YoY 1 Incumbency at key marine hubs and enhanced business development capability are supporting 2 organic growth 3 Riverside Marine performing above expectations 4 Blue sky g
Slide 34: Perth Office Contact Details
rsonal use only PERTH Level 11, Australia Place, 15-17 William Street, Perth WA 6000 T +61 8 9424 2300 [email protected]