• Resilience of RFG's core brands demonstrated through difficult trading conditions
• Ongoing focus on supporting franchisees and driving brand innovation
• Expansion of Beefy's Pies and partnership with Firehouse Subs to drive growth

The Chairman's address covered key developments from Financial Year 2025, RFG's strategy, and a trading update for the first quarter of Financial Year 2026. Despite a number of challenges, the resilience of RFG's core brands was highlighted, with the company remaining focused on continuing to Enhance and Grow these brands while maintaining a constant focus on supporting franchisees. RFG ended FY25 with over $500m in Total Network Sales, demonstrating the resilience of its store networks. The company also saw progress on strategic priorities like the expansion of Beefy's Pies, the partnership agreement with Firehouse Subs, and the acquisition of CIBO Espresso. Innovation remained a key driver of sales growth, with successful brand initiatives like the Donut King Premium Range and Crust's Free Delivery Thursdays. RFG's balance sheet remained strong, with $23.5m in unrestricted cash and $32.5m of gross debt. The first quarter of FY26 has seen positive Network Same Store Sales Growth and continued strength in core brands like Crust and Beefy's. The company is also progressing its company store strategic shift, with 44% of the 50 targeted transitions either agreed or completed.

RFG expects to launch the first Firehouse Subs store in FY26, with a current focus on flagship site selection and supply chain set up. The company is also targeting 165 Firehouse Subs restaurants in Australia over the next decade.