General Capital Limited ASM Presentation (amended)

Welcome to
General Capital Limited’s
Annual Shareholder
Meeting
1
3:00pm Friday 26 July 2024

Chairman
Rewi Bugo
2

Agenda
1.1 Chairman’s Introduction
1.2 Apologies
1.3 Chairman’s Address
1.4 Regular Business
1.5 General Business and Shareholder Discussion
1.6 Close
3

1.1 Chairman’s Introduction
4

Brent KingRewi BugoPaul Zingel
General Capital Directors
Greg JamesMegan Glen
5
Anita Killeen

1.2 Apologies
6

7
1.3 Chairman’s
Address

General Capital’s dividend policy is to declare dividends at a
rate of up to 40% (interim and final) of its net profit after tax,
subject to maintaining a prudent level of capital for its needs.
Capital needs will vary from time to time depending on a range
of factors (including regulatory and credit rating requirements,
general economic conditions and current and expected
growth). The Directors reserve the right to amend the dividend
policy at any time.
General Capital Dividend
Policy
8

Every four General Capital shares held at 5:00 p.m. on 2
August 2024 will be consolidated into one share, with all
fractional entitlements rounded to the nearest whole number of
shares and a fractional entitlement to half a share being
rounded up.
General Capital Share
Consolidation
9

Consideration and Discussion of Annual Report
The meeting will receive, consider and discuss the Annual Report of
the Company for the year ended 31 March 2024, including the
financial statements for that year and the Directors’ and auditor’s
reports to the shareholders.
1.4 Regular Business
10

Managing
Director:
Brent King
11

General Capital
Annual Report
31
st
March 2024

Key Points
•Total Assets up 20% to $163.3m
•Total Equity up 11% to $26.8m
•Revenue up 25% to $17.1m
•Net Profit Before Tax up 7% to $3.6m
•Net Profit After Tax up 17% to $2.6m
•Credit Rating reaffirmed as BB Stable
13

14
1
0.1
1.1
8.8
15.2
23.9
9.4
41.8
51.2
9.5
58.6
68.2
13.5
89.4
102.9
24.3
111.8
136.1
26.8
136.5
163.3
0
20
40
60
80
100
120
140
160
180
Equity ($mil)Total Liabilities ($mil)Total Assets ($mil)
General Capital Consolidated Balance Sheet
Mykco - 31 Mar. 2018GCL - 31 Mar. 2019GCL - 31 Mar. 2020GCL - 31 Mar. 2021
GCL - 31 Mar. 2022GCL - 31 Mar. 2023GCL - 31 Mar. 2024

15
64.5
71.3
79.1
90.7
99.2
111.9
122.9
129
127.7
129.2
133.2
145.7
155.4
162.4
58.5
65
72.2
83.1
89.4
101.5
111.7
116.7
111.7
112.5
116
127.8
136.6
142.6
6
6.3
6.9
7.6
9.8
10.4
11.2
12.3
16
16.7
17.2
17.9
18.8
19.8
0
20
40
60
80
100
120
140
160
180
Mar-21Jun-21Sep-21Dec-21Mar-22Jun-22Sep-22Dec-22Mar-23Jun-23Sep-23Dec-23Mar-24Jun-24
Growth in General Finance Limited (subsidiary)
Total Assets ($mil)Total Liabilities ($mil)Equity ($mil)

16
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
NorthlandAucklandWaikatoBay of PlentyWellingtonOther NorthIslandSouthIslandOverseas
Secured Term Deposit by Location 2020 - 2024
20202021202220232024

17
29,383
1,903
3,904
0
46,751
4,607
0
3,100
69,125
8,692
0
3,101
92,917
12,384
2,107
3,099
117,505
14,912
0
1,725
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Residential housingResidential bare landResidential development land and housingCommercial property
Loan by Security Type 2020 - 2024
2020 2021 2022 2023 2024

18
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
90,000,000
100,000,000
NorthlandAucklandWaikatoBay of PlentyWellingtonOther North IslandCanterburyOtagoMarlborough
Loan by Location 2020 - 2024
20202021202220232024

19
Synthony Sponsorship

20
Synthony in the Snow

b) Resolution 1: Auditors fees and expenses
To record that Company’s auditors, Grant Thornton New Zealand Audit Limited, are
automatically reappointed as auditors pursuant to section 207T of the Companies Act 1993 and
to consider, and if thought fit, to pass the following ordinary resolution:
“That the directors of the Company be authorised to fix the fees and expenses of the auditors of
the Company for the financial year ending 31 March 2025.”
21
1.4 Regular Business

22
1.4 Regular
Business
c) Resolution 2: Election of Director: Anita
Maria Killeen
To consider and, if thought fit, pass the following
ordinary resolution:
“That Anita Maria Killeen be elected as a
director of the Company.”

23
1.4 Regular
Business
c) Resolution 3: Re-election of Director:
Gregory Stephen James
To consider and, if thought fit, pass the following
ordinary resolution:
“That Gregory Stephen James, who retires at
the Annual Meeting and is eligible for reelection,
be elected as a director of the Company.”

To consider any other matters that may be brought properly before the Meeting.
1.5 General Business and
Shareholder Discussion
24

25
Thank you for
attending
General Capital
Limited’s
Annual Shareholder
Meeting
25