• Challenging year with residential activity slowdown, but business has stabilized
• Focusing on trade customers, investing in higher-value products, and benefiting from diverse footprint
• Dividend reduced but reflects balanced approach to reward shareholders and invest for the future

The Chair of Big River Industries, John O'Connor, presented his second address to shareholders at the company's FY2025 AGM. He began by acknowledging the commitment and resilience of the company's employees, who have remained focused on customers and proud of their work despite the demanding market conditions. The past year was challenging, with a sharp slowdown in residential activity in the first half that continued throughout much of the year. However, the Chair expressed confidence in the way the business has responded, with improvements in the second half, stable margins, tighter cost management, and excellent cash generation - signs that the business has stabilized and is preparing for the recovery ahead. The company's strategy remains consistent, focusing on trade customers, investing in higher-value and more specialized products, and benefiting from a diverse footprint across geography and sectors. These strengths have served the company well in the recent softer markets and will position it strongly when demand improves. The Board has declared a final dividend of two cents per share, taking the full-year dividend to four cents. The Chair noted that the Board has elected to suspend the Big River Dividend Reinvestment Plan indefinitely, as the low take-up and disproportionate costs made it unsustainable. The reduced dividend reflects a balanced approach to rewarding shareholders while ensuring the business remains financially strong and able to invest for the future, including a renewed focus on appropriate acquisition opportunities. Looking ahead, the Chair acknowledged that conditions remain soft, but there are some encouraging signs, particularly in Queensland where the investment associated with the Brisbane Olympics is providing momentum. With a more efficient cost base, stronger systems, and an experienced leadership team, Big River is well-placed to capture these emerging opportunities. The Chair also recognized the retirement of two long-serving directors, Brendan York and Vicky Papachristos, and welcomed the appointment of a new director, Alexander (Sandy) Beard, who brings deep experience and expertise that will benefit the Board and the company.

While conditions remain soft, there are some encouraging signs, particularly in Queensland where the investment associated with the Brisbane Olympics is providing momentum. With a more efficient cost base, stronger systems, and an experienced leadership team, Big River is well-placed to capture these emerging opportunities.