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Australian United Investment Company Limited 2025 Annual General Meeting 1 For personal use only
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Disclaimer Any information in this document has been prepared for the purposes of providing general information only, without taking account of any particular investor's objectives, financial situation or needs. Australian United Investment Company Limited is not licensed to provide financial product advice in relation to its shares or any other financial products. This document is not an offer for issue or sale, or a recommendation of any financial product and is not intended to be relied on by investors in making an investment decision. Past performance is not a reliable indicator of future performance. Before acting on anything that any investor may interpret as advice, they should consider the appropriateness of that interpretation and advice having regard to their objectives, financial situation, and needs. 2025 Annual General Meeting Australian United Investment Company Limited 2 For personal use only
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• To create and maintain a diversified portfolio of quality Australian companies, primarily through shares listed on the ASX, with a medium to long term view of providing capital and income appreciation; • To manage the portfolio to monitor and reduce risks and identify market opportunities as they arise; and • To provide dividend income to shareholders which is sustainable over the long - term, maintaining full franking when possible. 2025 Annual General Meeting Australian United Investment Company Limited Investment Objectives 3 For personal use only
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$10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 Strong Long -term Performance 2025 Annual General Meeting Australian United Investment Company Limited 25 years to June 2025: $10k in AUI NTA Accum. = $86,437 $10k in ASX200 Accum. = $72,685 4 For personal use only
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Profit after tax 2025 Annual General Meeting Australian United Investment Company Limited 33.0 51.1 55.2 47.8 49.5 7.5 20.9 1.2 1.3 0.4 40.5 72.0 56.4 49.1 49.9 0 20 40 60 80 2021 2022 2023 2024 2025 Profit after tax, $M Underlying profit * Special dividends * Statutory profit less special dividends. 5 For personal use only
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Dividends Paid 2025 Annual General Meeting Australian United Investment Company Limited As announced on 21 August 2025, AUI intends (subject to unforeseen circumstances) to declare an annual special dividend of eight cents per share in each of the next four years . - 5 10 15 20 25 30 35 40 45 Ordinary Dividends Special Dividends Annual growth rate: 4.3% (excl. special) 6 For personal use only
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At 30 June 2025 2025 Annual General Meeting Australian United Investment Company Limited FY25 FY24 Operating expenses 0.10% 0.10% Bank borrowing facilities $145M $175M Bank borrowings drawn $25M $77M Net debt / portfolio ex-cash 0.8% 3.6% 7 For personal use only
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2025 Annual General Meeting Australian United Investment Company Limited Sector Allocations As at 30 September 2025 Banks and Financials - 32.4% Mining and Energy - 20.1% Consumer and Communications - 19.6% Healthcare - 8.7% Industrials, Utilities and IT - 15.5% Real Estate - 2.5% Cash and equivalents - 1.2% 8 For personal use only
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2025 Annual General Meeting Australian United Investment Company Limited Portfolio Transactions During the year to 30 June 2025 Largest acquisitions: New investments in Santos, APA Group Addition to holdings in Origin Energy, Newmont, NextDC and Challenger Largest disposals: Sale of holdings in SEEK, Ramsay Healthcare Reduction of holdings in Woodside, Commonwealth Bank and The Lottery Corporation Transactions since 30 June 2025 New investment in Treasury Wine Estates Addition to holding in Northern Star Reduction of holding in Commonwealth Bank Open option positions in Commonwealth Bank and Wesfarmers 9 For personal use only
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NTA Accumulation Performance 2025 Annual General Meeting Australian United Investment Company Limited 10 years to 30 June 2025 1 year 3 years 5 years 10 years AUI Pre-tax NTA Accum. % p.a. 14.7 14.1 12.6 8.7 AUI Share price Accum. % p.a. 10.0 9.7 10.7 7.5 S&P/ASX200 Accum. Index % p.a. 13.8 13.6 11.8 8.9 Source: Evans and Partners 80 100 120 140 160 180 200 220 240 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 AUI Pre-tax NTA Accumulation Performance AUI Share Price Accumulation Performance ASX200 Accumulation Performance 10 For personal use only
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2025 Annual General Meeting Australian United Investment Company Limited On-market Share Buyback During the year to 30 June 2025 Shares bought back 132,766 Total spent $1.4 million Since buyback commenced, to 10 October 2025 Shares bought back 2,920,405 Total spent $30.1 million 11 For personal use only
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Australian United Investment Company Limited 2025 Annual General Meeting 12 For personal use only
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Resolution 2 That the Remuneration Report that forms part of the Directors’ Report for the Company for the financial year ended 30 June 2025 be adopted. 2025 Annual General Meeting Australian United Investment Company Limited Remuneration Report For Open Against Abstain 73,383,969 456,900 739,633 118,467 98.40% 0.61% 0.99% Proxy votes received prior to the meeting are as follows: 13 For personal use only
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Resolution 3 2025 Annual General Meeting Australian United Investment Company Limited Re-election of Mr Dion Hershan For Open Against Abstain 73,892,620 442,418 401,991 9,729 98.87% 0.59% 0.54% Proxy votes received prior to the meeting are as follows: That Mr Dion Hershan, a Director retiring from office by rotation in accordance with clause 65 of the Constitution, being eligible, is re -elected as a Director of the Company. 14 For personal use only
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Resolution 4 2025 Annual General Meeting Australian United Investment Company Limited Re-election of Mr Wayne Kent For Open Against Abstain 73,908,668 456,900 360,161 21,029 98.91% 0.61% 0.48% Proxy votes received prior to the meeting are as follows: That Mr Wayne Kent, a Director retiring from office by rotation in accordance with clause 65 of the Constitution, being eligible, is re -elected as a Director of the Company. 15 For personal use only
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Resolution 5 2025 Annual General Meeting Australian United Investment Company Limited Renewal of Proportional Takeover Provisions For Open Against Abstain 73,906,551 427,833 388,377 18,934 98.91% 0.57% 0.52% Proxy votes received prior to the meeting are as follows: This is a Special Resolution: That the proportional takeover provisions in the form set out in clause 25 of the Company’s Constitution be renewed for a period of three years from the date of the meeting. 16 For personal use only
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Australian United Investment Company Limited 2025 Annual General Meeting 17 For personal use only