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: ASX Announcement: 2026 AGM Chairman's Address and MD's Presentation
ASX Announcement 23 October 2026 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 Address and the Managing
Slide 2: About Bhagwan Marine Limited
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 Marine and its 100% o
Slide 3: 2026 Chairman's Address
2026 Chairman’s Address 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’s underlying business
Slide 4: Chairman's Address continued: investments in capability
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 discipline across the business.
Slide 5: Chairman's Address: outlook and acknowledgements
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. They sit above a strong
Slide 6: 2026 Annual General Meeting
2026 Annual General 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 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 Independent Appointe
Slide 9: Agenda
AGENDA 2026 ANNUAL GENERAL MEETING Chairman’s Address Resolutions & Voting Close of 2026 Annual General Meeting MD & CEO Address Refreshments 4
Slide 10: Chairman's Address
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 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 FY251 FY25 $36.5m5
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 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 Knight3 resilience,
Slide 13: How We Grow
HOW WE GROW COMPELLIN G OPPORT U NITIES FOR SU STAIN AB LE GROW T H Blue Sky Emerging Opportunities • Significant blue-sky opportunities Acquisitive Growth across decommissioning, defence and Proven Capability offshore energy, providing upside beyond the core investment case • Riverside Marine demon
Slide 14: Resolutions & Voting
Resolutions & Voting Image: Rivtow Tugs
Slide 15: FY26 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 Pursuant to requirements of the Corporations Act, the Company is required to table at the meeting the Company’s 2026 Annual Report, which has been made avai
Slide 16: Resolution 1: 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: “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% Against 410,662 0.4
Slide 17: Resolution 2: Re-election of Mr Andrew Wackett
RESOLUTION 2 RE-ELECTION OF MR ANDREW WACKETT AS A DIRECTOR To consider and, if appropriate, pass the following as an ordinary resolution: “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 14.4, and being
Slide 18: Resolution 3: 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: “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 approve the issue of
Slide 19: Resolution 4: Performance Rights to MD 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: “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval is given to issue 674,788 Performance Rig
Slide 20: Resolution 5: Performance Rights to 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: “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval is given to issue 457,590 Performance Rig
Slide 21: Resolution 6: Performance Rights to 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: “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval is given to issue 238,356 P
Slide 22: Resolution 7: Performance Rights to 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: “That, for the purpose of ASX Listing Rule 10.11 and for all other purposes, approval is given to issue 215,154 Performanc
Slide 23: Close of 2026 Annual General Meeting
Close of 2026 Annual General Meeting 18 18 | bhagwanmarine.com
Slide 24: MD & CEO Presentation
MD & CEO Presentation marine y
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 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 FY26 EBITDA • Opp
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 • 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 65.4 103.4 basis. 16
Slide 27: 1Q27 Update & Outlook
1Q27 Update & — Outlook Tes ZONE sh BHAGWAN marine
Slide 28: 1Q27 Update
1 Q 2 7 U P DAT E ST RON G STA RT TO FY27 Core1 1Q Revenue 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 recurring revenue 6
Slide 29: Positive Outlook
POSITIVE OUTLOOK COMPELLIN G OPPORT U NITIES FOR SU STAIN AB LE GROW T H Blue Sky Emerging Opportunities Acquisitive Growth • Significant WA decommissioning opportunities maturing (including Proven Capability Northern Endeavour and Barrow • Riverside Marine continuing to Island) Organic Growth outpe
Slide 30: Two Example Subsea Service Contracts Secured in 1Q27
TWO EXAMPLE SUBSEA SERVICE CONTRACTS SECURED IN 1Q27 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. “These awards ref
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 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 Mobilisation: Late 202
Slide 32: Riverside Industrial Sands
RIVERSIDE INDUSTRIAL SANDS LARGEST PROVIDER OF CONSTRUCTION SAND IN BRISBANE Two purpose built dredging vessels Strategic location – competitive and cost advantages Agreements with Brisbane’s largest concrete producers – average tenure of 8 – 10 years Large long-life resource base • Record 1Q27 perf
Slide 33: Summary: Key Takeaways
SUMMARY K E Y TA K E AWAYS – ST RO N G STA RT TO F Y 2 7 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 growth opportunit
Slide 34: Perth Office Contact Details
PERTH Level 11, Australia Place, 15-17 William Street, Perth WA 6000 T +61 8 9424 2300 [email protected]