Slides
Page 1
Full Year Results July 2026
Page 2
Full Year Results – July 2026 Disclaimer 2 AMCIL Limited and Australian Investment Company Services Limited (AFSL: 303209) and each of their respective directors, officers and agents (together the Disclosers) have prepared the information contained in these materials in good faith. However, no warranty (express or implied) is made as to the accuracy, completeness or reliability of any statements, estimates or opinions or other information contained in these materials (any of which may change without notice) and to the maximum extent permitted by law, the Disclosers disclaim all liability and responsibility (including, without limitation, any liability arising from fault or negligence on the part of any or all of the Disclosers) for any direct or indirect loss or damage which may be suffered by any recipient through relying on anything contained in or omitted from these materials. Any reader is strongly advised to make their own enquiries and seek independent professional advice regarding information contained in these materials. These materials have been prepared solely for the purpose of information and do not constitute, nor are they intended to constitute advice nor an offer or invitation to any person to subscribe for, buy or sell any shares or any other securities. ABN 57 073 990 735
Page 3
Full Year Results – July 2026 Agenda 3 Overview and Approach Alison Gibson Results Summary Andrew Porter Portfolio Performance and Activity Winston Chong Outlook Winston Chong
Page 4
Full Year Results – July 2026 Overview and Approach
Page 5
Full Year Results – July 2026 Overview & Key Features 5 AMCIL seeks to provide shareholders with attractive returns through a combination of capital growth over the medium to long term and fully franked dividends. Alignment of interests Comparatively low management cost No performance fees Equity ownership by directors and staff High conviction portfolio of 30 to 40 high-quality companies, both large and small. Tax effectiveness from a low turnover, long-term investment approach
Page 6
Full Year Results – July 2026 AMCIL Long Term Returns Assumes investors can take full advantage of franking credits. AMCIL’s returns are calculated after expenses, income tax and tax on realised capital gains. It should be noted that the market returns do not include expenses and tax. 6
Page 7
Full Year Results – July 2026 AMCIL Dividend History 7
Page 8
Full Year Results – July 2026 Results Summary
Page 9
Full Year Results – July 2026 Full Year Results Summary 9 ^Includes the interim dividend of 1.0 cents per share paid on 24 February 2026.
Page 10
Full Year Results – July 2026 Share Price Relative to Net Tangible Assets (NTA) 30 June 2026 NTA: $1.08 Share price: $0.90 Discount: 16.3% 10
Page 11
Full Year Results – July 2026 Portfolio Performance and Activity
Page 12
Full Year Results – July 2026 Portfolio Performance – Per Annum Returns to 30 June 2026 Assumes the full benefit of franking credits. AMCIL’s portfolio return is calculated after expenses, income tax paid and capital gains tax on realised sales of investments. It should be noted that the returns for the market do not include expenses or tax. Past performance is not indicative of future performance. 12
Page 13
Full Year Results – July 2026 S&P/ASX 200 Index – 12-month Market and Sector Performance 13
Page 14
Full Year Results – July 2026 Key Contributors and Detractors to Relative Portfolio Performance 14 -1.2% -1.5% -1.5% -1.5% -1.7% Underweight Position Top 5 Detractors 0.3% 0.3% 0.7% 0.8% 1.7% Top 5 Contributors Underweight position reflects the weighting in AMCIL’s portfolio relative to the S&P/ASX 200 Index. Underweight Position
Page 15
Full Year Results – July 2026 Recent Portfolio Activity 15 Additions to Existing Holdings New Additions to the Portfolio Trimmed Holdings Complete Disposals Based on portfolio activity in six months to 30 June 2026.
Page 16
Full Year Results – July 2026 Portfolio Update: Summary 16 Constructing a diversified portfolio of high-quality companies is key to AMCIL delivering on its Investment Objectives in a variety of market conditions. Top 20 Holdings As at 30 June 2026. $339.3m Key Portfolio Statistics Total Portfolio Value $1.08 Net Tangible Asset (NTA) Backing Per Share Stocks in the Portfolio 41
Page 17
Full Year Results – July 2026 Outlook
Page 18
Full Year Results – July 2026 Market Outlook 18 The Australian share market delivered its fourth year in a row of positive returns in FY26, driven by the strong returns of the resources sector. In the context of recent geopolitical conflicts, the Australian economy has proved resilient. However, the Australian share market continues to look moderately expensive on long-term valuation metrics. Forward Looking Price to Earnings Ratio of S&P/ASX 200 Index Forward Looking Dividend Yield of S&P/ASX 200 Index Source: Factset. Forecast valuation metrics based on consensus estimates.
Page 19
Full Year Results – July 2026 AMCIL Outlook 19 While the environment in FY26 was challenging for the portfolio and performance was below our expectations, we still consider the long term prospects for companies in the portfolio to be strong. Many of the companies in the portfolio have strong balance sheets and are well positioned to deliver continued earnings growth in support of AMCIL’s investment objectives. The outlook for corporate earnings in the upcoming reporting season will be closely monitored. The portfolio has a healthy level of cash to take advantage of any short term market dislocation in high- quality companies that support AMCIL’s investment objectives of delivering attractive returns over the medium to long term. We are constantly reviewing our conviction in companies in relation to the long term outlook and current valuations. We will continue to be active in adjusting the portfolio to achieve our investment objectives.