Complex sentence: He was created a baronet by Queen Victoria--the only Australian-born man to be so honoured--in recognition for his many donations and for his presiding over the Melbourne International Exhibition in 1880.
Split into simpler sentences: He was created a baronet by Queen Victoria-the only Australian-born man to be so honoured. This was in recognition for his many donations, and for his presiding over the Melbourne International Exhibition in 1880.