Good morning and welcome to the 2025 Annual General Meeting of Breville Group Limited. My name is Tim Antony, and I'm the Chair of the company. As it's now 10:00 A.M. and a quorum is present, I declare the meeting open. I would like to begin by acknowledging and paying respects to the traditional custodians of the land in which we work and to the elders, past and present, with further extended respect to all Aboriginal and Torres Strait Islanders present here today. I would now like to introduce your board of directors and other attendees. I'm joined at the table from my far right by Sally Herman, our Managing Director and CEO, Jim Clayton, and on my left, our Deputy Chair, Lawrence Myers, Kate Wright, and our Group CFO, Martin Nicholas. Also present and joining us virtually today are fellow directors, Dean Howell, who joins us from Victoria. Tim Baxter, who joins us from the United States. Good evening, Tim. Good morning. Thank you, Tim. Tuula Rytila, who joins us from Portugal. Hello and good evening from Lisbon. Yeah, yeah, good evening. I think it's three past midnight, so it's actually good morning for you, I think. Sally, Kate, and Tim are standing for re-election at the meeting today, and you'll hear from them shortly. Also joining us today, Craig Robinson and Sasha Kiddo, our Joint Company Secretaries, and Ashandra, our Audit Partner from PwC. Before we move to the formal business of the meeting, Jim and I would like to take the opportunity to discuss the 2025 financial year and recent performance. We are happy to take any questions on our presentations when we consider the 2025 Annual Report. The 2025 financial year was another very successful year for the BRG Group against a dynamic economic and geopolitical backdrop. FY 2025 delivered record total revenue of close to AUD 1.7 billion and EBIT of AUD 205 million. Importantly, double-digit revenue growth was achieved across all our three theatres. Since FY 2019, revenue and EBIT have grown every year and at the impressive compound average growth rates of 14.3% and 13.2%, respectively. Over the same period, our investment in R&D, marketing, and technology services and solutions increased at a compound average annual growth rate of 16.4%, or from 12.7% of sales in FY 2019 to 14.2% in FY 2025. FY 2025 delivered strong underlying cash flows, which was partly invested in tariff-led inventories levels and accelerated manufacturing diversification. Earnings per share grew by 14.1% in FY 2025, and total dividends per share grew by 12.1% to AUD 0.37 per share. Our FY 2025 performance was achieved while increasing our investment in our strategic platforms. New product development releases were a core driver in FY 2025. Coffee continued to lead our growth, supported by successful launches of the Oracle Jet and the Luxe Brewer. Cooking returned to growth, substantially driven by the launch of the Smart Oven Air Fryer Compact, and food prep began to stabilize. We accelerated our geographic expansion in FY 2025. The Breville and Sage brands directly entered China and the Middle East, both substantial potential markets, and early results have been encouraging. Lelit and Baratza expanded their global footprints, proving out our direct-to-market strategy for these brands. Our digital platforms continue to extend their geographical reach and deepen consumer engagement. The Powered by Beans ecosystem welcomed new partners, while Breville+ expanded its portfolio of premium content providers. Importantly, our modern technology architecture is enabling timely implementation of AI opportunities across the business. In response to potential new tariffs, not only did we tactically bring forward inventory purchases, we also substantially accelerated our manufacturing diversification program. The program is pleasingly on schedule and delivering on quality and cost expectations. As you're aware, we are firmly committed to high standards of ethical sourcing. We are working closely with our partners in our new manufacturing locations to ensure that our standards are upheld. Further progress was also made in FY 2025 on our key environmental sustainability initiatives, such as the Thermajet expansion program and the sustainable brown box packaging rollout. This year, we also early adopted several elements of the new Australian Sustainability Reporting Standards, resulting in enhanced climate-related disclosures. Strong governance and board capability is always important, and we're proud of the independence and strength of the board. We remain focused on maintaining the right mix of skills and competencies to navigate an increasingly complex global environment, including retail, supply management, consumer technology, cybersecurity, and climate change. Finally, none of BRG's group's achievements in FY 2025 would have been possible without the exceptional efforts of our global team, led by Jim Clayton and the group executives. The ability of our team to continue to deliver in the face of significant dynamic external headwinds speaks to the talent, dedication, and commitment to BRG Group's values. I would also like to thank my fellow board members for their contributions and guidance over the past year, and to thank our shareholders, consumers, retail partners, and suppliers for their continued support. I now hand over to Jim. Thanks, Tim. Good morning to everyone. Today, I'll walk you through our FY 2025 results, new product launches, and geographic expansion, then give a brief update on the first half of 2026. Given that we presented these results back in August, I'll hit the highlights. In FY 2025, we delivered double-digit growth across revenue, gross profit, and EBIT in many ways an optically normal year for BRG after recent COVID and post-COVID turbulence. Our EBIT growth of 10.2% was at the top end of our guidance. It's worth noting that underneath these strong numbers lies a great deal of effort mitigating the ever-changing tariff landscape in the U.S. This entailed pulling forward second half 2025 production, accelerating our manufacturing diversification program, and tactically adjusting production plans post-liberation day in April of 2025. Notwithstanding the level of investments these mitigants drove, our strong underlying cash flow allowed us to again finish the year in a net cash position. Looking at the revenue growth by geographic theatre, FY 2025 was a balanced year with all three theatres posting double-digit growth. The coffee category continued to lead, consistent with prior years. Now to the balance sheet. Given the unique characteristics of this vertical, which is long shelf-life products, inventory can be used as an insurance policy in times of turbulence. We leveraged this feature again in FY 2025, exclusively in the U.S., to mitigate the impact of the new tariffs. This decision underpins the slightly elevated inventory position as we exited FY 2025. Inventory in the rest of BRG was unaffected, which was flat as a percent of sales. The balance sheet also shows our first wave of investment in diversifying our manufacturing footprint outside of China, as well as uninterrupted investment in our NPD pipeline. With unused debt facilities of AUD 388 million and cash of AUD 106 million as of June 30th, our balance sheet is in good shape to support further diversification spend as well as other opportunities as they arise. Now to talk about new product launches and new geographies. Here are the products that we launched in the second half of 2025: the Oracle Dual Boiler, the Encore ESP Pro, the Luxe Brewer Thermal, and the Smart Oven Air Fryer Compact. All four products have been well received, positively reviewed, and are performing at or above expectations. Last month, we launched a particularly innovative product at ANZ, the Eye Q Toaster. Every toaster on the shelf uses time to determine the toasting cycle, which is why consumers have a hit-or-miss experience every morning. Sometimes the misses lead to fire and rescue fire alarm fines. With the Eye Q Toaster, we're using an optical sensor to get the toast exactly the way you like it, regardless of bread type. This product is another great example of Breville's customer-backed approach to innovation. FY 2025 was a particularly busy year on the geographic expansion front. In the second half, we went direct with Sage, Baratza, and Lelit in the Middle East, and we took Breville direct in China. I cannot adequately describe the multifunctional complexity of taking a new geography live. Launching two standalone markets in two different theatres in the same fiscal half, one of which included three brands, is a testament to both the talent level of the team as well as the maturity of our process productization for executing geographic expansion. We have strong teams on the ground in the Middle East and China, both of which have delivered a solid start out of the gate. Now a brief update on how we're going in the first half of 2026. Our new products and new markets are performing well. Year-to-date, positive trends continue, though the most important months of the half still lie in front of us. The premium consumer is proving reasonably resilient. I'm also pleased to report that our manufacturing diversification project is progressing well. In phase one, we prioritize speed and quality. We're on track, and as forecasted, we will have U.S. p roducts representing 80% of gross profit dollars manufactured outside of China by the end of the half. In the second half, we will continue to migrate additional products as well as begin phase II for products already moved, which is increased localization and cost optimization. The dynamic backdrop in the U.S. continues. We're prepared to tactically react and adjust to any changes in the rules of the game. Consistent with past practice, we will give financial year guidance when we report our first half 2026 results in February. In closing, I want to acknowledge how fortunate I am to work with the BRG Group team. FY 2025 certainly presented the opportunity to take stock of what this organization is capable of, and I continue to be impressed. The team delivered double-digit growth across revenue, gross profit, and EBIT while maintaining a net cash position. While doing that, they executed a dynamic tariff mitigation offense, worked closely with our manufacturing partners to move 120-volt production at pace, took two independent geographies alive in two different theatres, launched innovation-first new products across geographies, and drove countless other steps of forward progress, all without missing a beat. I'd also like to acknowledge our manufacturing partners, our retail partners, and the board. In a year that required flexibility, creativity, and challenging decisions on an ever-changing fact set, each player played their role in helping to navigate this complexity. With that, thank you to everyone for joining us today, and I'll now hand back to Tim for the rest of the agenda. Thank you, Jim. Before proceeding further, I would like to discuss the procedures I will follow today. Voting on all items of business will be conducted by a poll. The final results of the poll will be released to the ASX and published on the company's website as soon as they are available after the close of the meeting. A representative of our share registry, Boardroom, will act as a returning officer for the purpose of conducting and determining the results of the poll. Shareholders and proxy holders who are eligible to vote at this meeting have received a yellow voting card. During the meeting, I'll advise you when it is time for you to fill in your voting cards. If you need assistance filling in your voting card, please see the Boardroom staff at the registration desk in the foyer. Boardroom staff will collect voting cards at the end of the meeting. Shareholders who have a blue card are eligible to speak but are ineligible to vote at this meeting. Guests holding a white card are ineligible to vote or speak at this meeting. If you believe that you have not received the correct card, please see a Boardroom staff member. After each item of business has been put to the meeting, I will ask for questions. If you would like to address the meeting on the item of business, please raise your attendance card, and I will call on you. Please then identify yourself by name and state whether you are a shareholder or a proxy holder. Does anyone need more time to register? Shareholders were sent a copy of the notice of meeting and annual report, or details how to access these documents on 1 October 2025. Unless there are any objections, I will take the notice of meeting as read. Shareholders unable to attend the meeting have the option of appointing a proxy. Before a vote is taken on each resolution, I will display on the screen the total number of valid proxies that have been cast for that resolution and the manner in which they have been directed. These figures have been determined as at 10:00 A.M. on 4 November 2025, which was the closing time for the receipt of proxies. I would also like to advise that all eligible undirected proxies given to the chair will be voted in favor of those resolutions. I will now turn to the first item of business, which is to receive and consider the annual report. It is not a requirement that the annual financial report and reports of the directors and auditor for the year ended 30 June 2025 be formally adopted. However, all shareholders have had the opportunity to receive and consider them. We will now take questions on the annual report and on the earlier presentations from Jim and myself. Our auditor is also available to answer any questions on the conduct of the audit or the contents of the auditor's report. Are there any questions on this item? Thank you. I will now move to item two, the resolution for the adoption of the company's remuneration report. The remuneration report has been made available or provided to shareholders as part of the annual report. I will remind shareholders that the vote on this resolution is advisory only and is not binding on the company. Please note that the voting exclusions apply to this resolution as set out in the notice of meeting. Proxies have been lodged in respect of the resolution as displayed on the screen. Are there any questions on this resolution? As there are no questions, I now direct that the poll for the adoption of the remuneration report for the year ended 30 June 2025 be taken. Please fill in your yellow voting card in respect of the adoption of the remuneration report. Let me just pass that down to Susan. The next item is item 3A, the resolution for the reelection of Sally Herman as a director. I will now invite Sally to address the room and make some brief comments on her reelection. Thank you, Tim. Good morning, everyone. It's a pleasure to sit before you today seeking your support for my reelection to the Breville Board as a non-executive director. Over the past dozen years, I've had the honor of serving alongside a great board led by Tim Antony and an executive team led by Jim Clayton during what has been a transformative period for our company. As you know, during that time, we've expanded Breville's footprint globally, successfully launched the Sage brand across Europe, acquired Lelit and Baratza, launched beans, achieved global leadership in coffee, and taken the strategic step of diversifying our manufacturing base beyond China. These were all carefully considered decisions that were in line with our strategic objectives. I'm very proud of how we've navigated these changes while staying true to what makes Breville successful: our commitment to innovation, quality, and the people who make it all possible. I thank our CEO, Jim, for his vision and drive, as well as my fellow board members for their support. I've also been able to bring my experience on other listed boards to help us work through these and other strategic issues. I'm a full-time non-executive director sitting on boards in a range of industries and geographies, which enables me to share insights in such areas as risk, compliance, sustainability, and corporate governance. For the past year, I've had the privilege of chairing the Sustainability Committee, where we oversee and monitor the development and implementation of Breville's sustainability strategy and climate-related disclosures. I'm pleased to tell you that the work being done at Breville will ensure that we meet our regulatory requirements and continue to embed sustainability in our product design. Looking ahead, our executive team has set out an ambitious strategy, and I'm excited about the opportunities before us. Of course, we will also be working to incorporate the use of AI into our business. Making sure that we do that in an ethical manner that helps us to be more efficient and makes it possible for us to continue to deliver brilliance for our customers. If reelected, my focus will remain unchanged: to provide thoughtful governance, to ask the difficult questions when needed, and to ensure we're looking after the interests of all of our stakeholders. I hope I can count on your continued support. Thank you. Thank you, Sally. The board, excluding Ms. Herman, unanimously recommends that shareholders vote in favor of resolution 3A. Proxies have been lodged in respect of this resolution, as displayed on the screen. Are there any questions on this resolution? As there are no questions, I now direct that the poll for the reelection of Sally Herman be taken. Please fill in your yellow voting card in respect of the reelection of Sally Herman. I will now move to item 3B, the resolution for the reelection of Catherine Wright as a director. I will now invite Kate to address the room and make some brief comments on her reelection. Thank you, Tim, and good morning to my fellow shareholders. It remains a great privilege to serve as a director of Breville, a responsibility I continue to approach with energy and commitment. Since I joined the board in 2016, I've served on the audit and risk and sustainability committees, and I chair the People, Performance, Remuneration, and Nominations Committee, a role I'm passionate about. Ensuring Breville has the right leadership, culture, and capabilities in place remains a key focus for our board. I bring over 35 years of global consumer industry experience, including two decades in senior executive roles in complex, fast-moving corporate environments, and over a decade in organizational consulting, advising boards and executive teams on leadership, talent, and transformation. This mix of commercial and board advisory experience gives me a deep understanding of what drives sustainable performance, a strong culture, and sound governance. I'm immensely proud of how Breville continues to evolve as a genuine Australian success story driven by a talented and diverse global team. Jim and his team's commitment to innovation, customer experience, and global growth remains exceptional. As a board, our role is to support this momentum while ensuring the highest standards of governance and strategic oversight. As Chair of the People, Performance, Remuneration, and Nominations Committee, I remain focused on driving strong board oversight of talent attraction and retention, leadership development, succession, diversity, and ensuring our people are rewarded in alignment with long-term shareholder value creation. Like you, I'm a proud shareholder in Breville and remain committed to acting independently and representing your interests with integrity. Thank you for considering my candidacy for reelection to the Breville Board. Thank you, Kate. The board, excluding Ms. Wright, unanimously recommends that shareholders vote in favor of resolution 3B. Proxies have been lodged in respect of this resolution, as displayed on the screen. Are there any questions on this resolution? As there are no questions, I now direct the poll for the reelection of Catherine Wright be taken. Please fill in your yellow voting card in respect of the reelection of Catherine Wright. I now move to item 3C, the resolution for the reelection of Timothy Baxter as a director. I will now invite Tim to address the room via the audio facility and make some brief comments on his reelection. Good morning, shareholders. I'm sorry I can't be there in person, but given I live 10,000 mi away, I hope you understand that. I am honored to be considered for reelection to the board of Breville. Having spent most of my nearly 40-year career working for multinational companies not based in the U.S., I remain excited about the opportunity to continue to help Breville and its global expansion with a global perspective and a globally oriented board. I'm so impressed with the strong growth of the company over the past decade and especially how the company has navigated the global pandemic and recent geopolitical dynamics. Having helped Samsung grow its large appliance business from $100 million US to nearly $5 billion, its TV market share from 13% to over 35%, its North American business from $6 billion- $30 billion, and its brand to a top five global ranking over a similar period of time, I believe I can continue to offer that perspective on the opportunities and challenges in scaling businesses, teams, processes, and brands. Jim Clayton and his team have not only successfully executed a similar playbook but continue to execute against transformative initiatives with connected devices like the smart ovens and the real ecosystem play in the coffee business with a great portfolio of products coupled with a beans marketplace strategy. Having spent years involved in the Internet of Things, connected devices, and living with the marriage of hardware, content, and partnerships, I will continue offering advice and assistance with both of these strategies. I also believe my more recent board experience with both public and privately held tech and consumer companies demonstrates strategic and thought leadership skills that are of value to Breville as well. Thank you for the consideration of my candidacy to the Breville Board. Thank you, Tim. The board, excluding Mr. Baxter, unanimously recommends that shareholders vote in favor of resolution 3C. Proxies have been lodged in respect of this resolution, as displayed on the screen. Are there any questions on this resolution? As there are no questions, I now direct the poll for reelection of Timothy Baxter be taken. Please fill in your yellow voting card in respect of the reelection of Timothy Baxter. Our next item of business is item four, the resolution for the grant of rights to our Managing Director and CEO, Jim Clayton. As part of Mr. Clayton's annual remuneration package, it is proposed that Mr. Clayton be granted a long-term incentive of 79,934 performance rights with a three-year performance period. The number of performance rights that ultimately vest will depend upon the extent to which the performance conditions are satisfied over the performance period. It is also proposed that Mr. Clayton be granted a total of 29,381 deferred share rights as part of the fixed remuneration component of his employment package for the 2030 financial year. The number of deferred share rights that ultimately vest will depend upon Mr. Clayton completing the service period 26 August 2029- 25 August 2030. If resolution four is passed, the company intends to grant the rights to Mr. Clayton as soon as practical after the AGM. The board, excluding Mr. Clayton, recommends that shareholders vote in favor of resolution four. Please note that voting exclusions apply to this resolution, as set out in the notice of meeting. Proxies have been lodged in respect of this resolution, as displayed on the screen. Are there any questions on this resolution? As there are no questions, I now direct the poll for the grant of rights to the Managing Director and CEO be taken. Please fill in your yellow voting card in respect of the grant of rights to the Managing Director and CEO. Before I close today's AGM, I ask everybody to complete their yellow voting cards and hand them to a Boardroom staff member who will collect the cards. Any more cards on here? No. One staying. Okay. Any more cards in the room? Thank you. I now declare the poll closed. That concludes the formal business of this year's AGM, and I declare the meeting closed. I would now like to invite everyone to join the board of management for morning tea. Thank you. Thank you.