Operator

Thank you for standing by, and welcome to the Australian Agricultural Company Limited FY '26 Full Year Results Release. [Operator Instructions] I'd now like to hand the conference over to Mr. David Harris, MD and CEO. Please go ahead.

David Harris
CEO, MD & Director

Good morning, and welcome to the Australian Agricultural Company's Year-end Presentation for 2026. My name is Dave Harris, and I'm the Managing Director and CEO of AACo. And joining me on the call today is our Chief Financial Officer, Glen Steedman.

Before we begin, I want to recognize that AACo properties are the traditional homes of many First Nations people. We acknowledge them and offer our respects to their elders, past and present. We recognize their culture and honor their deep connection to the land, waters, animals and skies, especially across the places we have lived and worked for over 200 years. As a food and agricultural company, there is much to learn from their approach to community and their knowledge and care for country.

Our presentation today will follow the regular format. I'll start with an overview of AACo, including our FY '26 highlights and the commercial updates. Then I'll hand over to Glen to run through the financial performance in more detail before closing with an update on current market conditions. And with that, let's begin on Slide 5. AACo is a branded beef business, focused on the production, sale and marketing of high-quality Wagyu to customers around the world. Our integrated value chain connects land, livestock, brands and customers in a controlled system, allowing us to respond to and build