Slides
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2 7 AU G U ST 2026 2026 Full Year Results Presentation
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2 | bhagwanmarine.com Authorisation of Release: This ASX Announcement has been approved for release by the Board of Bhagwan Marine Limited ABN 81 009 154 349 (“Bhagwan”). (ASX code: BWN) Important Notice: This presentation and these materials (together the “presentation”) have been prepared by Bhagwan as a summary of Bhagwan’s operations and results for the purposes of a presentation to existing or potential investors in Bhagwan. By participating in this presentation or reviewing or retaining these materials, you acknowledge and represent that you have read, understood and accepted the terms of this important notice and disclaimer. This presentation should be read in conjunction with Bhagwan’s prospectus (July 2024), FY26 Annual Report and other continuous disclosure announcements that have been lodged by Bhagwan with the ASX. Financial data: all dollar values are in Australian dollars unless stated otherwise. Non-IFRS information: Bhagwan’s financial reporting complies with Australian accounting standards and international financial reporting standards (“IFRS”). This presentation includes material that contains non-IFRS measures that are not subject to audit. The non-IFRS information has not been audited. Bhagwan believes this non-IFRS financial information provides useful information to users in measuring the financial performance and conditions of Bhagwan. The non-IFRS financial information does not have a standardised meaning prescribed by Australian accounting standards and therefore may not be comparable to similarly titled measures presented by other entities, nor should it be construed as an alternative to other financial measures determined in accordance with Australian accounting standards. Investors are therefore cautioned not to place undue reliance on any non-IFRS financial information and ratios included in this presentation. Such non-IFRS financial information is unaudited. Forward-looking statements and risks: This presentation may contain forward-looking statements concerning activities that are or may be undertaken, and outlook or other matters. Any such forward- looking statements are based on assumptions that may differ materially from the actual circumstances which may arise. Actual results may differ from projections and such variations may be material. You should not place undue reliance on any projections which are based only on information currently available to Bhagwan. Bhagwan undertakes no obligation to update any forward-looking statements for events or circumstances that occur subsequent to the date of this presentation or to keep current any of the information provided. Past performance is no guarantee of future performance. Forward-looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that those predictions, forecasts and other forward-looking statements will not be achieved. Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies that are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. This presentation contains statements that are subject to risk factors associated with Bhagwan’s industry as well as unknown risks and uncertainties (both general and specific), many of which are outside the control of Bhagwan. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables, some of which are outside Bhagwan’s control, which could cause actual results or trends to differ materially, including but not limited to earnings, capital expenditure, cash flow and capital structure risks and general business risks. Given this, recipients are strongly cautioned not to place undue reliance on any projections and forward- looking statements. Disclaimer: Other than as required by law, neither Bhagwan nor any other person (including any director, officer or employee of any member of the group) gives any representation, warranty or assurance (express or implied) in relation to the accuracy or completeness of any forward- looking statement or that the occurrence of any event, results, performance or achievement will actually occur. Except as required by applicable laws or regulations, Bhagwan expressly disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statements in this presentation to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. This presentation can be viewed via Bhagwan InvestorHub: https://investors.bhagwanmarine.com/link/rv7kNP I M P O R T A N T N O T I C E A N D D I S C L A I M E R
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3 | bhagwanmarine.com D E L I V E R I N G B E S P O K E M A R I N E S O L U T I O N S W H O W E A R E INTEGRATED SERVICE LINES UNRIVALLED MULTIFUNCTIONAL FLEET BALANCED SOURCES OF REVENUE • Marine Services • Subsea Services • Vessel Charters • Project Delivery DIVERSE OPERATING SECTORS • Offshore Energy and Resources • Ports and Inshore • Defence • Dive support • Tugs and AHTS • Utility and landing craft • Multicats • Barges • Crew Transfer • Spot work: <2 weeks • Short-term: <12 months • Long-term: >12 months • FY26 56% recurring revenue (spot and long-term) End-to-end marine solutions Strong core and emerging markets >70 owned vessels Increasing recurring revenue
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4 | bhagwanmarine.com E S T A B L I S H E D A T K E Y M A R I N E H U B S N A T I O N A L L Y W H E R E W E O P E R A T E v
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5 | bhagwanmarine.com C O M P E L L I N G O P P O R T U N I T I E S F O R S U S T A I N A B L E G R O W T H H O W W E G R O W Solid Core Business Power of Incumbency Acquisitive Growth Proven Capability Blue Sky Emerging Opportunities • Market-leading position underpinned by the power of incumbency • Large, multifunctional fleet with a broad geographic footprint • Longstanding client relationships generating consistent opportunities • Established presence at key marine hubs generating ~$50m revenue p.a. • Long-term contracts generating ~$70m revenue p.a. Organic Growth Leverage Existing Opportunities • Deepen client relationships and increase service offering • Expand into adjacent markets and project types • Drive greater utilisation of the enlarged fleet and capabilities • Multiple growth opportunities already available today • Riverside Marine demonstrates Bhagwan’s capability to execute strategic M&A • Opportunity to further expand scale, capability and market reach • Disciplined approach focused on strategic and commercial fit • Significant blue-sky opportunities across decommissioning, defence and offshore power , providing upside beyond the core investment case • Potential for large, material projects as these markets develop • Early positioning provides a platform to capture future market growth over the medium to longer-term
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Image: Rivtow Tugs FY26 Highlights
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7 | bhagwanmarine.com R E S I L I E N T M A R G I N S A N D S T R O N G C A S H G E N E R A T I O N F Y 2 6 F I N A N C I A L H I G H L I G H T S $235.9m 20% $40.0m 0.8cps NET REVENUE EBITDA MARGIN 3 NET CASH FROM OPERATIONS 4 FULLY FRANKED TOTAL DIVIDEND Up from 18% in FY251 Down 16.6% on FY25 $283.0m1 Up 9.6% on FY25 $36.5m5 FY25 fully franked dividend of 0.5cps 60% Dividend Growth Notes: 1 FY25 includes Bhagwan only. 2 Riverside Marine acquisition completed on 31 March 2026 – Riverside Marine FY26 revenue $60.0m . 3 Pro forma EBITDA margin. 4 Group pro forma net cash from operations (Bhagwan FY26 and Riverside Marine 4Q FY26) 5 FY25 pro forma cash from operations Bhagwan $220.8m 4Q FY26 Riverside Marine $15.1m2 4-Year Revenue CAGR 15% Bhagwan EBITDA $40.0m3 Riverside Marine EBITDA $6.1m
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8 | bhagwanmarine.com B U I L D I N G O N S O L I D B A S E F O R L O N G - T E R M G R O W T H F Y 2 6 O P E R A T I O N A L H I G H L I G H T S Completed transformational acquisition of Riverside Marine and progressed integration1 Additional decommissioning projects2, initial wind farm survey work and built on existing defence presence. Embedded the COO function and strengthened business development capability Strengthened financial governance and aligned overheads to enhance resilience, margins and future returns Notes: 1 See announcement Completion of Riverside Marine Acquisition dated 31 March 2026. 2 See announcement Bhagwan Marine Advanced Decommissioning Strategy with Barrow Island Contract dated 24 March 2026. 3 See announcement Award of 5 Year Coral Knight Contract with Jadestone Energy dated 3 December 2025. Secured a five-year contract with Jadestone Energy for Coral Knight3 Strategic acquisition of the Bhagwan Ocean, enhancing capability to capture high-value marine construction and logistic projects
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9 | bhagwanmarine.com S U S T A I N E D G R O W T H A N D I N T E G R A T I O N O N T R A C K F Y 2 6 R I V E R S I D E M A R I N E H I G H L I G H T S • Successful completion on 31 March 2026 • 4Q FY26 revenue up 17% on pcp • 4Q FY26 EBITDA up 30%1 on pcp • Further EBITDA margin expansion • 94% long-term recurring revenue in FY26 • Opportunities for Bhagwan to amplify growth across Riverside Marine 52.0 55.0 60.0 FY24 FY25 FY26 17.9 21.6 24.5 FY24 FY25 FY26 $m $m REVENUE PRO FORMA EBITDA 40.8%39.3%34.4% Notes: 1 Pro forma adjusted EBITDA. EBITDA Margin %
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1010 | bhagwanmarine.com FY26 Financial Performance
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11 | bhagwanmarine.com 203.4 256.6 220.8 65.4 26.4 15.1 268.8 283.0 FY22 FY23 FY24 FY25 FY26 $m 99.1 104.3 127.7 128.9 116.9 103.9 10.4 55.0 26.4 15.1 109.5 159.3 154.1 119.0 H1 FY24 H2 FY24 H1 FY25 H2 FY25 H1 FY26 H2 FY26 4 - Y E A R C A G R 1 5 % R E V E N U E TVI PROJECT1 CORE BHAGWAN BUSINESS 4Q FY26 RIVERSIDE MARINE $m 235.9 Uncertainty in the Middle East and organisational restructuring within energy sector. Notes: 1 Significant Thevenard Island (TVI) decommissioning project. 134.7 169.0 4-Year CAGR 15%
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12 | bhagwanmarine.com 45.0 51.1 50.2 50.2 36.7 52.8 67.2 67.2 15.11 56.4121.7 152.7 103.4 103.4 65.4 26.4 F Y 24 F Y 25 F Y 26 F Y 26 P RO F O RM A A NNUA L IS ED I N C R E A S I N G R E C U R R I N G R E V E N U E A S A P E R C E N T A G E O F T O T A L R E V E N U E P R O F I L E Notes: 1 Riverside Marine 4Q FY26 contribution aligning with completion on 31 March 2026. 2 Significant Thevenard Island (TVI) decommissioning project. • Riverside Marine contributed $15.1m in revenue for FY26 post-acquisition, increasing recurring revenue to 56% of total revenue (+40% vs FY25) and 62% on an annualised basis. • Short-term projects (<12 months) have recovered in May and June. $m Recurring revenue % SPOT REVENUE: <2WEEKS (ORGANIC) SHORT-TERM REVENUE: <12MONTHS (ORGANIC ) LONG-TERM REVENUE: >12MONTHS (ORGANIC) RIVERSIDE MARINE (ACQUISITIVE) TVI PROJECT REVENUE2 (BLUE-SKY ) 62% 40% 44% 56% FY24 FY25 FY26 FY26 PRO FORMA ANNUALISED 268.8 283.0 235.9 276.9
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13 | bhagwanmarine.com 21.5 36.4 35.3 47.0 40.06.0 3.9 6.141.3 50.9 46.1 FY22 FY23 FY24 FY25 FY26 20%18%15%22%16% $m S T R O N G E B I T D A M A R G I N S M A I N T A I N E D P R O F O R M A E A R N I N G S Notes: Reference slide 2 in supplementary information . TVI PROJECT CORE BHAGWAN BUSINESS 4Q FY26 RIVERSIDE MARINE • Core business EBITDA increased from $21.5m in FY22 to $40.0m in FY26, representing a CAGR of 16.5%. • Riverside acquisition and gross margin efficiencies have expanded EBITDA margins. • FY26 earnings reflect a successful transition from TVI project contributions to recurring earnings from the Riverside Marine acquisition. EBITDA Margin %
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14 | bhagwanmarine.com S T R O N G C A S H C O N V E R S I O N P R O F O R M A F R E E C A S H F L O W Notes: Small variances may exist due to rounding. 1 Pro forma EBITDA Strong cash conversion 90% Operating Cash flow before interest and tax to EBITDA 1 Pro Forma Free Cash Flow $8.3m Comprising $4.7m of underlying free cash flow and $3.6m of Pro forma adjustments 46.1 Interest & finance costs (5.0) (0.5) (0.6) 40.0 (18.1) (13.6) 8.3 Free cash flow Lease repayments Sustaining capex Pro forma Cash from operations Working Capital (and other) Tax paid Pro forma EBITDA $m
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15 | bhagwanmarine.com D E B T N E T D E B T I N C R E A S E D T O F U N D G R O W T H Net debt increased to fund the Riverside acquisition and fleet expansion, while the balance sheet remains conservatively posi tioned at 1.2x leverage (annualised) 34% gearing and 11.7x interest cover – leaving ample headroom to fund the next phase of growth. Notes: Small variances may exist due to rounding. 1 Net debt excluding leases 2 EBITDA annualised for Riverside Group 5.3 Opening net debt FY26 +9.1 Growth capex Acquisitions (net of cash) +3.0 Dividends paid Pro forma free cash flow (28.7) Capital raised 74.5 Closing net debt FY26 L E V E R A G E 1.2x Net debt 1 / EBITDA 2 G E A R I N G 34% Net debt to equity I N T E R E S T C O V E R 9.2x EBITDA / net interest 1 5.3 +9.1 +94.1 +3.0 (8.3) (28.7) 74.5 L E V E R A G E 1.2x Net debt 1 / EBITDA 2 G E A R I N G 34% Net debt to equity I N T E R E S T C O V E R 11.7x Proforma EBITDA 2 / interest $m
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16 | bhagwanmarine.com C A P I T A L E X P E N D I T U R E D E T A I L E N H A N C I N G F L E E T Q U A L I T Y , S I Z E A N D C A P A B I L I T Y Capital Expenditure Detail FY26 FY25 Change $ Million Actual Actual Growth 9.1 19.6 (10.5) Sustaining 18.1 11.9 6.2 Discretionary - 6.9 (6.9) Asset Sales - (0.9) 0.9 Total 27.2 37.5 (10.3) Notes: Small variances may exist due to rounding Growth capex: Investing for future Earnings Growth • Strategic fleet additions to support contracted demand and expand capability: ➢ Seawind 1 landing craft ➢ Hybrid-electric Narrah for the Port of Melbourne contract ➢ Bhagwan Ocean multi-cat vessel (~$6m) targeting high- margin marine construction and logistics projects Sustaining & Discretionary capex: Protecting Asset Quality • Targeted fleet upgrades to enhance safety, reliability and operational efficiency. • Maintenance investment reflecting inflationary pressures and extended lead times. F Y 2 6 C A P E X M I X ( $ M ) Growth 9.1 Sustaining 18.1
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17 | bhagwanmarine.com Statutory Balance Sheet FY26 FY25 Change $ Million Actual Actual FY26 v FY25 Net working capital (6.6) 4.1 (10.7) Property, Plant and Equipment 269.1 193.6 +75.5 Intangibles 69.5 - +69.5 Other 6.5 5.4 +1.1 Capital employed 338.4 203.1 +135.3 Net debt (including leases) 121.8 38.2 +83.6 Shareholders' funds 216.6 164.9 +51.7 Capital employed 338.4 203.1 +135.3 NTA per share (excluding leased assets) (%) 0.42 0.47 (0.05) NTA per share (excluding leased assets and liabilities) (cents) 0.54 0.59 (0.05) ROA (annualised) 1 (%) 5.8 9.0 (3.2)pts N E T T A N G I B L E A S S E T S P E R S H A R E 4 2 C P S B A L A N C E S H E E T • Riverside strengthened the balance sheet increasing capital employed and expanding the Group's fleet, property and intangible asset base. • Net debt is funding growth reflecting the acquisition funding, fleet investment and longer-term lease commitments. • Working capital was effectively managed throughout the acquisition period. The decline in net working capital assets was primarily due to acquisition-related deferred tax liabilities arising from accounting timing differences, while underlying operating working capital remained stable and well controlled. Notes: Small variances may exist due to rounding. 1 Calculated on annualised EBITA basis
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Growth Opportunities & Outlook
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19 | bhagwanmarine.com Solid Core Business With Compelling Opportunities for Organic Growth Proven Capability for Acquisitive Growth • Decommissioning, defence and energy transition opportunities • Supply demand imbalance within marine sector • Limited new vessel builds since 2015 • Industry rates must rise substantially to encourage further investment • Ability to pursue acquisitive growth • Progressing Riverside Marine integration FREE CASH FLOW INCREASING ENERGY & RESOURCES DEFENCE PORTS & INSHORE • Organic growth via incumbency at key marine hubs • Expanding gross and EBITDA margins • Disciplined cost control and capital management • Invest in enhanced systems and processes, including automation D E L I V E R I N G S U S T A I N A B L E E A R N I N G S G R O W T H R E C A P P I N G O U R B U S I N E S S M O D E L Emerging Blue-Sky Opportunities
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20 | bhagwanmarine.com S U P P L Y D E M A N D B A L A N C E E X P E C T E D T O S U P P O R T R A T E S P O S I T I V E L O N G- T E R M I N D U S T R Y D R I V E R S Notes: Offshore Support Vessels (OSV), Anchor Handling Tug Supply (AHTS) Vessels and Platform Supply Vessels (PSV). Source: Clarksons Research Offshore Supply Vessel Monthly’, June 2026. Platform supply vessels (PSV). Anchor handling tug vessels (AHT). Anchor handling tug / supply vessels (AHTS). OSV Global Utilisation
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21 | bhagwanmarine.com I N C R E A S I N G D U E T O T I G H T N E W B U I L D M A R K E T Notes: Offshore Support Vessels (OSV), Anchor Handling Tug Supply (AHTS) Vessels and Platform Supply Vessels (PSV). Source: Clarksons Research Offshore Supply Vessel Monthly’ June 2026. Platform supply vessels (PSV). Anchor handling tug vessels (AHT). Anchor handling tug / supply vessels (AHTS). 0 100 200 300 400 500 600 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 AHTS/AHT PSV/Supply No. Units OSV Newbuilding Contracting Activity B H A G W A N F L E E T V A L U E S Bhagwan Owned Fleet Value (left axis) Riverside Owned Fleet Value (left axis) AHTS Global Average Vessel Resale Price – Medium (6,000 BHP) (right axis) $m $m 5 7 9 11 13 15 17 19 50 70 90 110 130 150 170 190 210 2024 2025 2026
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22 | bhagwanmarine.com 4 2 K E Y T A K E A W A Y S F Y 2 6 S U M M A R Y Increasing recurring revenue and profitability, supported by strong cash generation Incumbency at key marine hubs and enhanced business development capability support organic growth Riverside Marine integration is on track, with opportunities to increase volumes, utilisation and earnings Well positioned to capture blue sky growth opportunities driven by the energy transition , decommissioning and defence Positive industry fundamentals support pricing and long-term asset values 1 3 5
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2323 | bhagwanmarine.com Supplementary Information
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24 | bhagwanmarine.com Revenue and EBITDA Breakdown (Core excludes TVI Project) $ Million FY22 FY23 FY24 FY25 FY26 1H24 2H24 1H25 2H25 1H26 2H26 Core revenue 134.7 169.0 203.4 256.6 220.8 99.1 104.3 127.7 128.9 116.9 104.0 TVI project revenue - - 65.4 26.4 - 10.4 55.0 26.4 - - - Riverside Marine revenue - - - - 15.1 - - - - - 15.1 Total net revenue 134.7 169.0 268.8 283.0 235.9 109.5 159.3 154.1 128.9 116.9 119.1 Gross profit 40.2 57.4 71.2 84.4 86.5 34.8 36.4 43.7 40.7 41.0 45.5 Administrative expense & other (18.8) (21.0) (29.9) (33.5) (40.4) (14.1) (15.7) (16.4) (17.1) (18.6) (21.8) Core EBITDA 21.51 36.4 35.3 47.0 40.0 20.9 14.5 23.4 23.6 22.4 17.6 Core EBITDA margin (%) 16%1 22% 17% 18% 18% 21% 14% 18% 18% 19% 17% Riverside Marine EBITDA - - - - 6.1 - - - - - 6.1 Riverside Marine EBITDA margin (%) - - - - 41% - - - - - 41% TVI project EBITDA - - 6.0 3.9 - (0.3) 6.2 3.9 - - - TVI project EBITDA margin (%) - - 9% 15% - (0.3%) 11% 15% - - - Total pro forma EBITDA 21.5 36.4 41.3 50.9 46.1 20.6 20.7 27.3 23.6 22.4 23.7 Total pro forma EBITDA margin (%) 16% 22% 15% 18% 20% 19% 13% 18% 18% 19% 20% R E V E N U E A N D E B I T D A B R E A K D O W N Notes: 1 FY22 EBITDA excludes other income of $3.7m in relation to the gain on the sale of vessels. See Appendices for a reconciliation from pro forma to statutory results. Small variances may occur due to rounding
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25 | bhagwanmarine.com D E T A I L E D P R O F I T & L O S S Notes: Amortisation on acquired intangible assets $1.2m, the tax effect adjustment $0.4. Refer to reconciliation of statutory NPAT to Pro forma NPATA Pro Forma Profit and Loss FY26 FY25 Change (%) $ Million Gross revenue 235.9 292.2 -19% Pass-through revenue1 - (9.2) Net revenue 235.9 283.0 -17% Net cost of sales (149.4) (198.7) -25% Gross profit 86.5 84.4 -2% Administrative expense (38.7) (33.2) 17% Impairment of assets (1.7) (0.2) Other income (portion included in EBITDA) - - Pro Forma EBITDA 46.1 50.9 -9% Depreciation expense - PPE (20.6) (14.6) 41% Depreciation expense – AASB16 (14.9) (13.5) 10% EBITA 10.6 22.8 -54% Other income (portion not included in EBITDA) 0.3 0.9 -69% Finance income 0.9 0.5 68% Finance costs (5.5) (4.2) Profit before income tax benefit 6.3 20.1 -69% Income tax (expense) (3.1) (7.1) Net profit after tax and amortisation (NPATA) 3.2 13.0 -75% Gross profit margin (%) 37% 30% Administrative expense/net revenue (%) 16% 12% EBITDA margin (%) 20% 18% EBITA margin (%) 4% 8%
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26 | bhagwanmarine.com R E C O N C I L I A T I O N O F S T A T U T O R Y E B I T D A T O P R O F O R M A E B I T D A Notes: Reconciliation of Statutory EBITDA to Pro Forma EBITDA FY26 FY25 Change $ Million % Statutory EBITDA 42.5 50.2 -15% Add: Transaction costs 3.6 0.7 Total Pro forma adjustments 3.6 0.7 Pro Forma EBITDA 46.1 50.9 -9% • Administrative expense for FY26 has been reduced by $3.6m to reflect non-recurring transaction costs related to the Riverside Marine Acquisition, comprising corporate advisory, legal and accounting fees.
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27 | bhagwanmarine.com R E C O N C I L I A T I O N O F S T A T U T O R Y N P A T T O P R O F O R M A N P A T A Notes: Reconciliation of Statutory NPAT to Pro Forma NPATA FY26 FY25 Change $ Million Actual Actual % Statutory NPAT (0.2) 12.5 -102% Add: Transaction costs 3.6 0.7 Add: Amortisation expense on acquired intangibles 1.2 - Less: Tax effect of the above (1.4) (0.2) Total Pro Forma adjustments 3.4 0.5 Pro Forma NPATA 3.2 13.0 -75%
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28 | bhagwanmarine.com 0 50 100 150 200 250 300 350 400 38718 39083 39448 39814 40179 40544 40909 41275 41640 42005 42370 42736 43101 43466 43831 44197 44562 44927 45292 45658 46023 Acquired Dalmarine establishing presence in Dampier to service oil and gas market Construction support contract for Gorgon gas project O R G A N I C A N D A C Q U I S I T I V E G R O W T H 2 0 Y E A R R E V E N U E H I S T O R Y 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Bhagwan Revenue TVI Revenue Riverside Revenue Catalyst Investment Partners and Anthony Wooles invested in BWN Launched BWN Maintenance & Engineering Division Acquired Workboats Northern Australia Pty Ltd, Darwin Acquired Marine and Towage Services Limited Acquired MDT Marine Pty Ltd establishing presence in QLD Launched BWN Subsea Division Acquired Broadsword Marine Contractors, NT Acquired Delta Subsea IMR master services agreement with multinational oil and gas client in the Pilbara WA Port of Melbourne maintenance contract 5-year contract with multinational oil and gas company North West Shelf TVI decommissioning project North West Shelf Acquired Riverside Marine expanding presence in QLD and northern Australia Construction of new marina Port Hedland waterfront $m Successful IPO and listing on ASX
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29 | bhagwanmarine.com RIVTOW MARINE RIVERSIDE INDUSTRIAL SANDS AIMS1 VESSEL MANAGEMENT RIVERSIDE OCEANIC MAGNETIC ISLAND FERRIES Managing essential harbor & towage services for tier 1, long-term customers Managing dedicated research vessels under long-term government contracts Largest provider of construction sand in Brisbane with high barriers to entry Sole provider of essential commercial ferry services linking Townsville and Magnetic Island Supplying quality charter vessels across diverse end markets RIVERSIDE MANAGED VESSELS RIVERSIDE OWNED VESSELS ~70% OWNED VESSELS – CONTRIBUTION TO FY26 EBITDA2 ~30% MANAGED VESSELS – CONTRIBUTION TO FY26 EBITDA2 D I V E R S E S E R V I C E O F F E R I N G A C R O S S F I V E E S T A B L I S H E D B R A N D S R I V E R S I D E M A R I N E S T R U C T U R E Notes: 1 Australian Institute of Marine Science. 2 Estimated contribution to Riverside Marine Holdings FY26F EBITDA.
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PERTH Level 11, Australia Place, 15-17 William Street, Perth WA 6000 T +61 8 9424 2300 investor.relations@bhagwanmarine.com