Good afternoon, everyone. My name is Shan Kanji, and I am the Chairman of Atturra. Welcome to the 2026 Annual General Meeting of Atturra Limited. On behalf of the board, I would like to welcome each of our shareholders who are attending. I begin by acknowledging the traditional custodians of the lands on which we work, live, and gather, and I pay my respects to elders past, present, and emerging. It is now just after 3:00 P.M., and there being a quorum present, I declare the meeting and poll open. I confirm that the meeting has been properly constituted. In opening the 2026 AGM, I would like to introduce the Atturra board and management team who are in attendance. Alongside me, Atturra has a very capable and committed board who serve alongside me, including Nicole Bowman, Jonathan Rubinsztein, and Stephen Kowal.
Nicole, or Nicki as she is known, is an experienced leader, Non-Executive Director, and former lawyer, whose leadership career has spanned over 23 years across industries as diverse as mining, finance, sport, and manufacturing, both in Australia and internationally. The board and I wholeheartedly support her re-election. She has been on the board since listing and continues to be a valuable voice to me and to the board. Also in attendance today are Ash Pather, Atturra's independent auditor, Kunal Shah, Atturra's CFO, David Dekker, Atturra's COO, and Nina Mlinarevic, Atturra's Company Secretary. Being a virtual meeting, we are unable to meet with you in person today. But I would like to thank those shareholders who are joining us via the Computershare meeting platform.
The agendas for today's meeting will be as follows: the Chairman's address, we will then proceed with the formal matters to be considered at today's AGM, and finally, there will be an opportunity for questions or comments. Fellow shareholders, Atturra has just completed a difficult year, but I am still very proud of what we have become. With scale, deep experience, and a breadth of capability, Atturra is well-positioned into the future. That scale has been years in the making and allows Atturra to develop its deep expertise, including in AI, across its diverse and substantial client base. Last year, revenue increased 17% to AUD 351.8 million, continuing a strong multi-year record of expansion.
Underlying EBITDA was AUD 30.1 million, down 5% on the prior year, and statutory NPAT was a loss of AUD 21.7 million, largely reflecting a one-off non-cash goodwill impairment and a significant and unusual contract loss that was quite unexpected and is unlikely to recur. While full year results were not as strong as we had hoped at the beginning of the year and impacted by a few one-off items, our second-half underlying EBITDA came in at AUD 22.8 million, which was pleasing, turning a historical bias to stronger second-half earnings relative to first. This result gives us a strong starting point for the year ahead. We will deliver record revenue and underlying EBITDA this year, notwithstanding our planned substantial investments in AI, Scholarion, and sales capability.
These investments will be heavily weighted to the first half, with delivery of the performance in the second half of the year. Our vision remains unchanged: to be Australia's most trusted advisory and IT solutions provider. We are growing our established practices and strengthening our AI delivery capability alongside our proprietary offerings. AI is a significant part of our investment case at Atturra. We expect to deliver outstanding client outcomes in productivity improvements and business outcomes. Our relevance comes from helping clients solve important, complex problems. Organizations need to modernize core systems, protect their data, and make better use of technology. Atturra brings together deep industry knowledge, strong technology partnerships, and the ability to deliver end-to-end transformation. The acquisition of Blue Connections has expanded our managed services and end-user computing capability. The opportunity ahead is substantial.
We are focused on positioning Atturra to maximize our return on the increased spend relative to AI-driven transformation and organic growth on areas where client demand and our capabilities meet: AI, managed services, cyber, cloud, and data. We will continue to invest in sales, solutions, and proprietary offering while allocating capital with care. Scholarion now has six contracted clients and a growing pipeline. Atturra Cloud Platform, or ACP, now serves more than 60 clients. These are examples of how we are building offerings that can deepen client relationships and create more predictable revenue over time. The solutions model is becoming more tangible. Scholarion, built on Microsoft Dynamics 365, connects students and staff life cycle for schools. ACP supports clients' core systems and workloads across private and public cloud. We are also applying our industry and ERP expertise to repeatable offering such as ePlanning and Mobile Action.
These products can generate implementation work and ongoing support while deepening client relationships. Artificial intelligence is already changing how organizations operate. It provides both an opportunity for our clients, but also for Atturra. We see strong demand from our clients who are seeking practical advice on how to get a return on AI, primarily around identifying the best ways to use AI, preparing and governing data, implementing secure solutions, and ensuring effective adoption. The demand draws on our existing expertise in delivering integration, payroll, and managed services. This opportunity extends beyond advisory into practical AI functionality delivery into our clients. We are also embedding AI into our own workflows and building AI literacy across the business. This is a long-term investment in our capability and productivity. Good governance, security, and human oversight remain essential as we put these tools to work.
We develop repeatable services and testing them at Atturra where applicable before delivering them to clients. Our people make this possible. Atturra has more than 1,300 team members, and their expertise, commitment, and willingness to learn are what make our strategy possible. We are investing in capability building and creating opportunities for our people to grow. I also want to acknowledge the leadership team for their work through a demanding year. Our investment in FY 2027 is focused on AI capability, Scholarion, and additional sales and solutioning. These investments are predominantly in the first half, with benefits expected to be delivered in second half and into FY 2028. Looking ahead, we expect FY 2027 to deliver record revenue and underlying EBITDA. We will pursue that growth with a clear focus on EPS, cash conversion, and maintaining our focus on disciplined capital allocation.
Thank you for your continued patient support and our clients and people for their trust and contribution. The board and I remain confident in Atturra's opportunity to build a leading advisory and IT solutions business. We now move to the formal business set out in the notice of meeting. The notice of annual general meeting was sent to all registered members on September 21, 2026, and is taken to be read. Today's meeting is being held online by the Computershare meeting platform. This allows shareholders, proxies, and guests to attend the meeting virtually. All attendees can watch a live webcast of the meeting. In addition, shareholders and proxies have the ability to ask questions and submit votes. Shareholders and proxy holders can submit questions at any time. To ask a question, select the Q&A icon.
You may enter a selected topic from the dropdown menu to which your question relates. Type your question into the text box. Once you have finished typing, please press the Send button. Please note that while you can submit questions from now on, they will not be addressed until the relevant time in the meeting. Please also note that your questions may be moderated or receive multiple questions on one topic amalgamated. To ask a question verbally as a shareholder or proxy holder, please follow the instructions below the broadcast window. Voting today will be conducted by way of poll on all items of business. For the purposes of the poll, I appoint Glenn Rogers of Computershare Registry, the company's share register, who have examined and prepared summaries of the proxy forms received to act as returning officer and to conduct the poll.
If you are eligible to vote, once voting opens, press the Vote icon and all resolutions will be activated with voting options. To cast your vote, simply select one of the options. There is no need to hit submit or enter as the vote is automatically recorded. You will receive a vote confirmation notification on your screen. Shareholders in attendance via Computershare's meeting platform who have already submitted a vote by proxy should note that your votes will already be counted towards the poll. You do not need to lodge another vote unless you wish to change your proxy instruction. You can change your vote until the time I declare voting closed. All undirected proxies or open votes that have nominated the chairman of the meeting as their proxy will be cast in favor of each resolution in the notice of annual general meeting.
Please note that online voting portal is open and will remain open until the poll is declared closed. Your votes must have been submitted prior to the poll being closed for them to count. Are there any questions in relation to the voting process? Proxies have been inspected, and all those validly lodged have been accepted. Proxies have been received representing 61,803,838 shares or 16.79% of the issued capital of the company. We will now proceed to the resolution set out in the notice of annual general meeting. The first item of business is to receive the company's annual financial report for the year ending J une 30, 2026. The financial report and report of directors and auditors are now laid before the meeting. There will be no vote on this item, which is open for discussion item only.
The company's auditor for the 2026 financial year, Ash Pather, Partner of Crowe Australasia, is present to take questions relevant to the conduct of the audit and the preparation and content of the independent auditor's report. Are there any questions or comments on the financial reports or the reports of the directors and auditors? The management of the relevant to the conduct of the audit and the preparation and content of the auditor's report to be put to the auditor. We will now proceed to the resolution set out in the notice of annual general meeting. Resolution one is as follows: To conduct, and if thought fit to pass, with or without amendment, resolution one, adoption of the remuneration report as an ordinary resolution. The resolution wording is on the screen. If you wish to discuss this resolution, please submit your questions via the Q&A.
The proxies received in relation to this resolution are now on the screen. I now put the motion. Shareholders and proxy holders can vote at any time by selecting For, Against, or Abstain on the resolution. Once you submit your vote, you should see a green tick confirming the vote has been received. As the next item relates to my re-election as director, I will now vacate the chair and invite the Deputy Chair, Ms. Bowman, to chair the meeting for this item.
Thank you, Shan. Resolution two is as follows: To consider, and if thought fit, to pass with or without amendment. Resolution two, re-election of Shan Kanji as director as an ordinary resolution. The resolution wording is on the screen. If you wish to discuss this resolution, please submit your questions via the Q&A. The proxies received in relation to this resolution are on the screen. I now put the motion. Shareholders and proxy holders can vote at any time by selecting either for, against, or abstain on the resolution. Once you submit your vote, you should see a green tick confirming that the vote has been received.
Resolution.
Sorry. I'll now vacate chair and hand back to Shan.
Thank you. Resolution 3 is as follows: Consider, and if thought fit, to pass with or without amendment Resolution 3, re-election of Nicole Bowman as director as an ordinary resolution. The resolution wording is on the screen. If you wish to discuss this resolution, please submit your question via the Q&A. The proxies received in relation to this resolution are now on the screen. I now put the motion. Shareholders and proxy holders can vote at any time by selecting either for, Against, or Abstain on the resolution. Once you submit your vote, you should see a green tick confirming that the vote has been received. Resolution 4 is as follows: To consider, and if thought fit, to pass with or without amendment Resolution 4, ASX Listing Rule 7.1A, approval of future issue of securities special resolution. The resolution wording is on the screen.
If you wish to discuss this resolution, please submit the question via Q&A. Proxies received in relation to this resolution are on the screen. I now put the motion. Shareholders and proxy holders can vote at any time by selecting either for, Against, or Abstain on the resolution. Once you submit your vote, you should see a green tick confirming that the vote has been received. Resolution 5 is as follows: To consider, and if thought fit, to pass with or without amendment Resolution 5, approval of issue of securities under the company's Long-Term Incentive Plan as an ordinary resolution. The resolution wording is on the screen. If you wish to discuss this resolution, please submit your question via the Q&A. The proxies received in relation to this resolution are now on the screen. I now put the motion.
Shareholders and proxy holders can vote at any time by selecting either for, Against, or Abstain on the resolution. Once you submit your vote, you should see a green tick confirming the vote has been received. Resolution 6 is as follows: To consider, and if thought fit, to pass with or without amendment Resolution 6A, approval of the issue of performance rights to Stephen Kowal, Director, as an ordinary resolution. The resolution wording is on the screen. If you wish to discuss the resolution, please submit your questions via the Q&A. Proxies received in relation to this resolution are now on the screen. I now put the motion. Shareholders and proxy holders can vote at any time by selecting either for, Against, or Abstain on the resolution. Once you submit your vote, you should see a green tick confirming that the vote has been received.
Resolution 6B is as follows: To consider, and if thought fit, to pass with or without amendment resolution 6B, approval for the issue of options to Stephen Kowal, director, as an ordinary resolution. Resolution wording is on the screen. If you wish to discuss this resolution, please submit your questions via the Q&A. Proxies in relation to this resolution are now on the screen. I now put the motion. Shareholders and proxy holders can vote at any time by selecting either for, Against, or Abstain on the resolution. Once you submit your vote, you should see a green tick confirming the vote has been received. That concludes the resolutions to be voted on today. As noted, we are conducting a poll on the resolutions. Please remember that to record your vote, you should be able to see a green tick confirming the vote has been received.
I would like to advise that closing on all resolutions will close shortly. I will provide you a few moments now to allow you to finish your voting. Please complete your voting now. I now declare the poll closed. The staff of Computershare will now process. The results of the poll will be announced the ASX once they are available. We will be holding a general Q&A session shortly. If you have any questions in relation to the Chairman's address or general questions, please submit your question in the Q&A box now. Is there any other business that can be lawfully brought forward? There being no further questions, I would like to thank all shareholders for their attendance, and will now end the formal part of today's meeting. I declare the meeting closed. As advised earlier, the results of the poll will be announced the ASX once they are available.
We will now open the floor to any general questions. Are there any questions on the Chairman's address or general questions? There appear to be no further questions. Thank you for your continued support of Atturra and your attendance today. We will now close the webinar