Good afternoon, everyone, and welcome [inaudible]. It is now 10:30 P.M., Australian Eastern Standard [inaudible]. As a hybrid meeting, which means that we have people joining us in person here at the offices of Mallesons in Melbourne [inaudible] throughout Australia and their connections to land, sea, and community. Here in Melbourne, we are on the traditional [inaudible] Torres Strait Islander peoples present here today. Before we begin with the formal business [inaudible].
[inaudible] joining us today. There are no safety drills planned for today, so if you do hear an emergency alarm, please [inaudible]. Voting on all items of business today will be carried out by way of a poll. Shareholders have the option of casting [inaudible]. You can do so at any time during the meeting, starting from now as the polls are open for voting. [inaudible] by filling out your card. Those holding a red or a blue card are not entitled to vote at this meeting.
If you [inaudible]. Shareholders joining us online, you can cast your vote by following the instructions set out on the screen in front of you. Vote [inaudible] person who hold a yellow or a blue card, you are entitled to speak and ask questions at this meeting. Visitors [inaudible]. [inaudible] microphones here at the front when the Chair calls for questions and identify yourself before asking your question. [inaudible] selecting the [inaudible]. [inaudible] Ask a question button.
You do not need to wait until we get to the formal items of business to submit your [inaudible]. For our shareholders who wish to ask a question by the phone line, the line operator will introduce you to [inaudible]. [inaudible] questions submitted online and then questions by phone. I will now hand back to the Chair. Thank you, Sarah.
[inaudible] [Alistair] Bell, Independent Non-Executive Director and Chair of the Audit and Risk Committee. Arnoud De Meyer, [ Independent Non-Executive Director and Dat Duong] Investment Partnership Portfolio Manager and Vitol Investment Director. To my right, Scott Wyatt [Chief Executive Officer and Executive Director] and Mark Chong, Non-Executive Director. Mark is the Vitol Head of Investments for Asia Pacific. We also have Trevor Johnston joining us in person and Caroline Mara on the phone, [inaudible] Auditor PricewaterhouseCoopers. Trevor and Caroline will be available to answer questions on the audit [inaudible].
Formal business. Scott and I will address the meeting on our performance and some of the highlights over the past year. [Our AGM this year is being held] during the evolving conflict in the Middle East, which continues to have a significant impact on fuel supply around the world and [and particularly in the Asia-Pacific region]. [Naturally Australia is not immune from these impacts, and we understand the concern this is causing our] customers and the communities that we serve. As a supplier of around 25%-30% of [of Australia’s fuel needs, we understand the critical role we play in helping the country navigate this] crisis, we have dedicated significant effort and resources to supporting customers during this challenging time.
[Through this period, we have maintained continuous supply to our customers from the production of Diesel, jet fuel and petrol] from our Geelong Refinery and from imported cargoes through our international trading partner, Vitol. [We have also maintained close engagement with all levels of Government to provide expert advice and contribute to the national] fuel supply plans. We have also supported the Federal Government in the acquisition of five Diesel cargoes [to provide contingency stocks in the event that supplies are disrupted. We have been a strong] partner, and I am proud of the way that Viva Energy has stepped up during a time of national need.
[As you will be aware, we unfortunately experienced a significant fire at the Geelong Refinery last month]. [I am relieved that this was] contained and safely managed, and most importantly, all personnel were safely accounted for. [The refinery has continued to operate at reduced rates while we work to restart the Catalytic Cracking Unit]. This will allow us to restore production to above 90% of our capacity. [I want to acknowledge that this was a very challenging time for everyone, and to again reflect on the incredible response from the Geelong team] working closely with emergency services organizations.
Responding well to incidents and keeping people [safe depends on the significant effort we put into emergency response planning, training our staff and contractors, and regularly] exercising those plans and skills. The Board is proud of the dedication and resilience shown [by our people during this period, and the support we have received both internally and externally].
During 2025, we continued to progress our strategy to build our Convenience business [with the integration of Liberty Convenience, OTR and Reddy Express, as well as the extension of the OTR network to markets outside] South Australia.
It has been a challenging period for the Convenience sector as a whole due [to increased cost-of-living pressures and the dramatic growth in the illicit tobacco trade, but we continue] to see convenience retail as an important part of our future and expect this to drive long-term growth as these headwinds pass. With the integration of the three r etail businesses well progressed, the focus has shifted towards disciplined execution. This includes [standing up our own convenience supply chains and rolling out new OTR stores in a measured and capital-disciplined] manner.
We now operate three distinct retail brands and service offerings across our 1,200. [or so stores nationwide, enabling us to more effectively meet the needs of our customers. In our Energy businesses], we reached a major milestone with the commissioning of the Ultra-Low Sulphur Gasoline plant concluding [ a period of heavy investment in our Refining business over the last few years. This year the Government announced an improvement in the level of support] available to the refining sector under the Fuel Security Services Payment, and we look forward to working with [with Government on a longer-term arrangement as part of a broader review of fuel security and supply over the coming months].
Despite challenging retail and refining conditions in the first half of 2025, performance [improved across all parts of the business in the second half. This was reflected in a significantly improved] EBITDA of AUD 396 million, up 30% on the first half. This was driven [by improved operational performance and stronger market conditions. This result was also supported] by record Commercial & Industrial sales volumes, together with solid earnings in Convenience & Mobility [as fuel margins strengthened and acquisition synergies and cost savings were realised]. The Group reported an underlying EBITDA on replacement cost basis of AUD 701 million [for the full year]. [While this was a relatively strong result given conditions, it was below our expectations for the business], and this was reflected in the remuneration outcomes for the executive team.
The company declared [total dividends of AUD 0.0677 per share, representing a payout ratio of 55% Net Profit after Tax on a] replacement cost basis from the Retail and Commercial segments. No dividend was paid from the Refining business [which generated a net loss of AUD 14 million in 2025. Since 2021 the Board has retained a dividend] policy that reflects the differing earnings characteristics of our business. Under the current policy, we target of [ we target a payout ratio of 50% to 70% of underlying Net Profit After Tax, on a replacement cost basis, from the more stable earnings from] the Retail and Commercial businesses.
Dividends from the Refining business are assessed separately at the [full-year result with a target of 50% to 70% of underlying Net Profit After Tax, due to the historical higher volatility] of refining earnings. [The Board believes this remains the right approach in the current environment of heightened] volatility and uncertainty, striking a prudent balance between delivering shareholder returns and [ maintaining a strong and resilient balance sheet]. [As Viva Energy’s direction evolves so too must the skills and experience of the Board]. Your Board places great importance on maintaining the right mix to support and challenge management.
[Since the last AGM, we have seen substantial board refreshment. This is my first AGM as your Chair, as our previous Chair Robert] Hill retired earlier this year after many years' service. On behalf of the Board, I would like to thank Robert for [his commitment to the company and his unwavering belief in the critical role that Viva Energy plays in the energy infrastructure of Australia]. Also, since the last AGM, the Board has been pleased to welcome John Joyce and [Alistair Bell to the Board]. [You will hear from both John and Alistair today, as both stand for election]. [Their deep insights in the retail] sector, strong financial acumen, and executive leadership experiences have helped to sharpen the company's [retail strategy, strengthen governance oversight and support the continued development of the Retail business].
[Looking ahead], the company will continue to operate and invest in nationally significant fuel and energy infrastructure. [The Board recognises the importance of further strengthening its collective capability in asset-intensive heavy] industry refining and energy infrastructure. This will be a key consideration as we [progress succession planning following the departure of Nicola Wakefield Evans, who retired from the Board last month].
On behalf of the Board, to sincerely thank Nicola for her contribution to Viva Energy. Nicola has played [an important role during a period of significant change for the Company, and we are grateful for her commitment and the] perspectives that she brought to the Board.
On behalf of the Board, I want to thank our shareholders [for your feedback and continued support and look forward to answering your questions shortly. I also want] to acknowledge the efforts of all the Viva Energy team and thank our customers for their business and loyalty.
[I’ll now hand over to our CEO, Scott Wyatt, to provide more detail on last year’s performance].
Thank you, Sarah. I want to begin by also acknowledge [the substantial efforts of my team to navigate the Middle East crisis and more recently the fire] that occurred at the Geelong Refinery. It has been an immensely challenging period, and I'm very proud of the way we have respond [reflecting the unique character and culture of our organisation]. [As previously announced to the market,] we expect to restore production to over 90% capacity during June after the restart of the [RCCU and have continued to maintain fuel supplies to our customers and markets throughout this period].
[We are conducting a full investigation into the cause] of the incident and We are continuing to assess damage and repair options, which we expect to be covered by our insurance. [As Sarah mentioned, we are in midst of executing important strategies to reduce our reliance on traditional energies and provide future pathways] for growth, the development of our Convenience business, our energy hub at Geelong, and the continued [ growth of our Commercial businesses are all important for our long-term prosperity]. [I am pleased with the] progress we have made during 2025, and this continues through 2026 despite the distraction of the [current energy crisis].
[The integration of our Convenience business was a particular focus] during 2025. Early in the year, we acquired the remaining 50% interest in Liberty Convenience and brought together [the various retail businesses under a common ERP which allowed for the cessation of transitional services] arrangements with Coles Group. We also completed the rebranding of our network and during the year opened [35 new and converted OTR stores and converted five Express stores to Liberty Convenience brands].
This year we will stand up dedicated convenience supply chains so that we can service both Reddy Express and OTR stores [from our own distribution centres in each of the capital cities]. [The Victorian distribution centre is already in operation, and the rest will] f ollow in the coming months. We will continue to open new OTR stores outside of South Australia [and progressively transform our retail offer across the country in a capital disciplined and return focused manner]. Our Commercial & Industrial business once again delivered a strong performance during 2025.
We finished [the year with record sales volumes of 11,800,000,000 L, with growth continuing into 2026 with first quarter sales volumes up over 7%]. This performance reflects organic growth from our hard-to-replicate national infrastructure [footprint, and the strength of our supply chains which have of course been critical over the last couple of months]. [Last year], we completed our multi-year investment program at Geelong Refinery with the commissioning of the Ultra-Low Sulphur Gasoline unit.
[Over the last four years we have added 114,000,000 L of Diesel storage] including 90,000,000 L of storage at Geelong. We commissioned the only public hydrogen production [and refuelling station, and began processing biogenic feedstocks to reduce the carbon] content of the fuels that we produce. We welcome the recent changes to the Fuel Security Services Payment [and are working with the Federal Government to increase Australia’s fuel security and resilience as announced in the recent budget.]
[ We expect] t his to include ongoing support for domestic refining into the next decade and construction of further storage which [we are well placed to support]. [With major investments now behind us, Viva Energy is entering a lower capital cycle with 2026 CapEx] is expected to be between AUD 350 million and AUD 400 million. [The company remains focused on reducing gearing through a combination of lower capex and improved earnings].
[We continue to assess growth opportunities across all our businesses, but] for the next few years, expect this to be mostly focused on the development of our Retail business and upgrading our convenience offer. [As I said earlier, I am pleased with the progress we are making on our strategic agenda and the performance of our business through the Middle East] crisis. We have demonstrated the strength of our fuel supply chains and the resilience of our business through some of the most [challenging of times].
[I expect Viva Energy to emerge from the crisis in good shape, with a stronger reputation, and many new] opportunities for us to pursue. Thank you for your continued support. I'll now hand back to Sarah.
We will now move to the formal items of business and will take any questions and comments regarding the management and performance [inaudible]. I will open for questions. For shareholders with us today, [inaudible]. For our shareholders attending online, I would encourage you to start submitting your questions now and we'll address [inaudible]. Notice of meeting sets out the following matters for consideration by shareholders today. First item, [inaudible] the remuneration report. The third item is elections and re-elections of directors. [inaudible] 4, to grant performance rights to Scott Wyatt under the company's 2026 long [inaudible] meeting , where I, as Chair of the meeting, have been nominated as a shareholder's proxy.
I intend [inaudible] as outlined in the notice of meeting. I remind you that the polls are open for voting. [inaudible] platform as soon as possible after the conclusion of today's meeting. [inaudible] requires the directors to lay before the annual general meeting the financial report, sustainability report [inaudible]. The shareholders for this item, but there will be an opportunity to ask questions on the matters contained [inaudible] report and sustainability report. PricewaterhouseCoopers independence and the preparation [inaudible] . I note that there were no written questions received prior to the meeting for the external auditor [inaudible]. [inaudible] microphone, identify yourself and ask your question [inaudible].
[inaudible] Shareholders Association at the meeting this afternoon. Today, I hold proxies from members and non-members totaling 20 [inaudible].
Thank you, Chris. Appreciate it.
Our association looks forward to working with you and your board members [inaudible]. [inaudible] noted that the loss in the Refining business in 2025, with everything that's going on. I was wondering [inaudible].
Thank you. I think, Scott, would you like to give the update?
Yes, certainly can [inaudible]. Refineries close over a period of time. We have two refineries left in the country, our one in Geelong [inaudible]. [inaudible] was put in place in 2021 and recently refreshed this year by the Albanese Government. [inaudible] with that support, we are still here, we are still refining. I think one thing that we have learned [inaudible], and I think that is now much more greatly appreciated by everybody in Australia about the important role of [inaudible] what we do in supporting the country through the last couple of months.
As a result of the disruption, [inaudible] there is obviously an impact to the availability of refined fuels. We do import into Australia still [inaudible]. They have obviously been heavily impacted and resulted in the price of those fuels increasing substantially [inaudible]. Refineries generally are generating quite healthy margins at the current present time. There are refineries here in Australia [inaudible] that are available. Certainly at the current time, the Refining businesses are quite profitable and [inaudible]. The future and the renewal of the Fuel Security Services Payment is an important step to seeing those refineries [inaudible].
Do we have any other questions from the floor? On this item [inaudible].
Thank you, Sarah. Yes, we do have a couple of general business questions.
Okay.
The first question is from Mr. [Anthony Twine] [inaudible]. [inaudible] petroleum to electrification. What is Viva doing to keep up with the shrinking demand for petroleum-based [inaudible].
The market in Australia for liquid fuels overall is actually quite resilient. The market for Diesel [inaudible] increase, and as he's observed, the demand for petrol, sulphur petrol [inaudible] efficiency of cars rather than take-up of EV, which in Australia has been, by global standards, quite slow [inaudible]. We are investigating and investing in our capacity for low-carbon liquid fuels so you might use the [inaudible]. [inaudible] aware that the mix of fuels in the future might change for your vehicle, but we intend to be supplying that fuel [inaudible].
[inaudible] 30 or 50 years' time. Has the Board thought about this, or is it beyond the scope of today's thinking?
[inaudible]. You will still be here and still playing a major part in Australia's transport and liquid fuels industry. [inaudible] they are very critical assets in Australia. They last for a very long time so our market moves [inaudible]. We will still be here and still be successful and still be operating a safe and profitable business, I hope [inaudible].
[inaudible] continue to change in the next 30, 40 years is the mix of energies that we move around in. As Sarah said, we wanna [inaudible]. But I would say we also want to think that I believe in diversifying [inaudible] part of that and pursuing growth in other non-energy areas as well, so that the broader diversity of business [inaudible].
[inaudible] any other questions online?
No further questions. Thank you.
Thanks. I will now go to phone questions. Operator, do we have any [inaudible] questions? I declare that the financial statements and reports have been received and considered at the meeting. [inaudible]. This item is advisory only and does not bind the company or its Directors. However, the Board will consider [inaudible]. Voting restrictions apply to this resolution as set out in the notice of meeting. [inaudible]. I'll ask Georgia, do we have any questions online on this [inaudible] by phone?
Chair, there are no phone questions.
Thank you. As there are no further questions on this item of business, I formally put the motion on item 2. [inaudible] Please record your vote now if you haven't already done so. The shareholders attending this meeting in person [inaudible]. Shareholders attending this meeting online, please select for, against, or abstain. Next item is item 3(a). This item relates [inaudible] company's constitution and being eligible offers himself for re-election. The Board has considered [inaudible] in the notice of meeting and in the 2025 Annual Report. I will ask Arnoud to say a few words [inaudible].
It is really a great honor for me to be here at the 2026 Annual General Meeting. As you will have seen from my CV, I have spent the past 30 years leading business schools [inaudible]. I have also served as an Independent Director or Trustee in close to 20 organizations. [inaudible] instrumentation engineer in the petrochemical industry. I have maintained a very strong interest in energy [inaudible] perspective on the challenges facing business today. Experience among multiple sectors [inaudible]. A strong commitment to sustainability and diversity, and an extensive academic [inaudible]. In 2023 have been both challenging and rewarding for Viva Energy. [inaudible] right at that moment.
In recent months, as Chairman and CEO already pointed out, the company [inaudible] activities, geopolitical disruptions impacting the supply chains, and of course, the refinery [inaudible]. [inaudible] and the Board has remained closely engaged to ensure appropriate responses and that the learn [inaudible] well and has continued to play a critical role in securing Australia's energy supply. [inaudible] strong platform and the resilient organization that management and the Board have built together. [inaudible] of our former Chairman, Robert Hill, and our current Chair, Dr. Sarah Ryan, and in close collaboration with [inaudible] refinery and reinforcing its importance as a strategic asset for Australia. [inaudible] energy transition. This includes continuing to explore renewable energy [inaudible]. [inaudible] t he attractiveness of the company to all its stakeholders, of course, including the shareholders.
[inaudible] continuing to contribute to the transformation and the growth of the company as a Director, as a member of the Remuneration [inaudible]. I want to assure you that I have always approached our decision-making with the interests of the shareholders [inaudible]. [inaudible] Energy. Thank you.
Thank you, Arnoud, turning [inaudible].
Thank you. Thank you, Madam Chair. I was just wondering in terms of, I take it [inaudible] to Australia and how you keep yourself aware of affairs happening in this country. Thank you.
[inaudible] which means that I, sor ry?
No, go on.
Which means that last year when I [inaudible] and I don't know actually how many meetings we had, but it must [inaudible]. It's actually only six hours flying from here, and two hours at this time of the year. Two hours [inaudible].
I can confirm that. Arnoud is a very diligent and effective and engaged member of the Board. [inaudible]. He's basically in constant communication with the Board. Thank you.
[inaudible] question. The question is from [Stephen Mayne]. Why was there an 8% vote [inaudible].
I'll take that one. I can confirm that all 4 proxy advisors recommended for Arnoud's re-election. [inaudible]
Thank you.
Do we have any other online [inaudible] to wish to ask a question by phone?
Chair, there are no phone questions at this time.
Thank you. On the screen now. I formally put the motion to re-elect Arnoud De Meyer as the Director of [inaudible] constitution, and being eligible, offers himself for re-election. Election, sorry. The Board has been [inaudible]. [inaudible] set out in the notice of meeting and in the 2025 Annual Report. I will ask John to say a few [inaudible].
For election today. My name is John Joyce. I joined the Viva Energy Board in June last year, and over that time [inaudible] with the aim of adding practical value from day one. I bring more than 30 years' experience in retail and executive leadership [inaudible], in Group, and also Chair the Board of Mr Vitamins. These roles keep me closely connected to customer trends [inaudible]. I Chair the Board Retail Committee, established last year, to sharpen Board focus on our retail strategy and [inaudible] risk and performance.
Over the past year, we have made tangible progress in strengthening our retail [inaudible] outcomes and support sustainable growth. This experience has reinforced the importance of [inaudible] role with a strong sense of accountability for long-term performance and value creation. The energy sector [inaudible] me to continue to contribute effectively as the company navigates this period of change [inaudible] performance and long-term success.
Thank you for your time and support.
Thank you, John. Please.
I'd like to direct a question, if I could.
Absolutely.
Are they all direct employees?
It's a mix.
Okay.
But keep going with [inaudible].
[inaudible] obligations in terms of salaries and the like. I was just wondering how board members keep themselves informed [inaudible].
[inaudible] the operating model. All of the Express stores now brand [inaudible]. We have nearly 100 stores operating as Liberty Convenience that operate [inaudible] stores under an agreement with us, and then we have quite a large number of stores that are branded either [inaudible] owned. The operator owns and operates their business themselves. I think the stores that you have in mind which [inaudible].
Thank you.
That's right, Chair.
No, thank you. Perfect. I was going to throw it to you anyway.
Yeah. That's all right.
[inaudible] on this item of business today?
Yes, we have. We have one question from [Stephen Mayne]. Could [inaudible] any unsuccessful candidates? Did John know any of our Directors before engaging in the recruitment?
The recruitment process we undertook was a very diligent [inaudible]. Yes, we used a headhunter. I'm just making sure I answer [inaudible] to the intimate details of exactly how we ran the process, but I can assure everyone it was a very diligent [inaudible]. Then we did a lot of interviews and reference checking and so forth.
No.
I don't think so.
No.
No. Thank you. [inaudible] who wish to ask a question by phone?
Chair, there are no phone questions.
Thank you. I formally put the motion to elect John Joyce as a Director of the company following his retirement. We move to item 3C. Thank you. Re-election. The Board has considered Alistair's performance and contribution and supports Alistair's re-election [inaudible]. I will ask Alistair to say a few words about his election. Alistair, over to you.
Thank you for nominating me for election today. It is a privilege to speak with you. My name [inaudible]. They say in times adversity [inaudible]. [inaudible] Viva as it has responded to significant events that have been outlined by the Chair and the CEO, and I've been [inaudible]. [inaudible] a moment to make the following points in support of my nomination. Since joining, [inaudible] financial health, all aimed at contributing from day one, and other large international organizations. [inaudible] relevant sector experience in retail, commodity markets, supply chain, [inaudible] cross-border operations. I have experience in [inaudible] of which are highly relevant to Viva's strategy and operating model. [inaudible] rigorous decision-making and outcomes, and extensive experience in capital markets [inaudible] and balancing growth and shareholder returns. At Viva [inaudible] Committee and Retail committee.
I've also been a member of the Board subcommittee that's [inaudible]. Sector is changing rapidly, and Viva Energy will continue to play a leading role in Australia's energy [inaudible]. This, together with delivering our retail strategy, strengthens Viva's [inaudible] experience in helping businesses improve performance, optimize networks, [inaudible] and [inaudible] this period. I'm excited about Viva's prospects and committed to [inaudible]. Thank you for your time.
Thanks, Alistair.
[inaudible] in fairness, I feel like I should direct a question to Alistair, even though I've done it to the other Directors.
Questions are very welcome.
[inaudible] facing the illicit tobacco industry and how much of an impact that's having on that possibly addressed or what it holds for the future? Thank you.
I think [inaudible] it's been a massive headwind in our Retail business. That is absolutely obvious. It's been a massive headwind for anyone [inaudible]. We're really glad to see that the police response and the legislative response is starting to come into [inaudible]. [inaudible] play in terms of tobacco. Is there anything else you want to add?
I think [inaudible]. I've been quite vocal in the media. It's an industry issue and Viva, in its Retail business, is caught up in that and further positioning it in the industry.
Thank you. Operator, do we have any shareholders who wish to ask a question by phone?
Chair, there are [inaudible].
In relation to this item appears on screen now. I formally put [inaudible] constitution. Please record your vote now if you haven't already done so. [inaudible] proposed to grant 1,820,664 performance [inaudible]. [inaudible] motivate, retain, and reward Scott and align his interests with that of shareholders. Each performance [inaudible] period, subject to satisfaction of the performance conditions. The performance period is three [inaudible] sets out all the relevant details in relation to the performance rights, including the performance conditions. Are there any questions from the floor on this item of business?
Question from [Stephen Mayne]. Thank you for disclosing the proxies early to the ASX [inaudible] i ssue that concerned them.
The proxy adviser was ISS. They were the only one of four they recommend [inaudible]. [inaudible] They wanted to see the actual numbers around our financial targets, which is not our usual [inaudible]. Thank you. [inaudible]
No questions.
Thank you. A summary of the direct and proxy votes received in advance [inaudible] for item 4, to approve for all purposes including ASX Listing Rule 10 [inaudible], Director and Chief Executive Officer under the company's long-term incentive plan on the terms described [inaudible]. That now covers the formal business before the annual general meeting today. [inaudible] make sure that we haven't received any further questions. Are there any more questions from the floor?
Good afternoon. My name's [Gilbert Fry].
[Gilbert].
I've been a shareholder for approximately four years. [inaudible] h ydrogen project at Geelong, there doesn't appear to be a lot of talk [inaudible] success or the operators or the companies that are using the product. [inaudible].
I checked with [Sher], approximately AUD 50 million.
It was around about AUD 40 million, but we also got some grants as well.
Yeah.
[inaudible] about AUD 50 million, and the Federal Government gave AUD 125 million.
Yeah.
What project's that?
That's the [inaudible]
The hydrogen refueling station is up and running, and trucks are using it, and sales are slowly [inaudible]. The trucks and everything else needed to make it a success.
Okay, thank you.
Yep.
[inaudible] online?
Yes, sir, we have a final general business question from Mr. [Ronald Guy]. It relates to modern slavery. [inaudible]. Viva has processes in place to combat this problem. Has there been any examples of suppliers KPIs [inaudible], for their failure to exclude modern slavery in Viva's supply chain?
Thank you. [inaudible] is in place to combat this problem. We put out our Modern Slavery Report on the website for everyone to look at [inaudible]. This is a particular interest of yours. We haven't seen any examples of our [inaudible]. [inaudible] online?
No further questions online.
Thank you. Operator, are there any further questions on the phone? [inaudible]. Voting will close shortly after the conclusion of the AGM. For those shareholders online, a five-minute countdown timer will appear at the top. Please complete your paper voting forms and place them in the ballot voting boxes [inaudible]. [inaudible] and are located at the exit doors. Voting results will be released to the ASX announcements [inaudible] at the conclusion of this meeting. Thank you again for participating today in this hybrid format meeting. [inaudible]. Shareholders participating remotely. For those attending here today in Melbourne, I invite you to meet your Directors [inaudible]. [inaudible] closed. Thank you