Slides
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FY2026 Interim Results Webinar Matthew Haupt Lead Portfolio Manager John Ayoub Portfolio Manager Access the recording
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2 Disclaimer Wilson Asset Management and their related entities 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. This information has been prepared and provided by Wilson Asset Management. To the extent that it includes any financial product advice, the advice is of a general nature only and does not take into account any individual’s objectives, financial situation or particular needs. Before making an investment decision an individual should assess whether it meets their own needs and consult a financial advisor.
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3 Investment portfolio performance per annum since inception (May - 16) at 31 December 2025 * +12.1% * Investment portfolio performance is before expenses, fees, taxes and the impact of capital management initiatives to compare to the relevant index which is before expenses, fees and taxes. Total shareholder return in the six months to 31 December 2025, including franking credits +16.8% Investment portfolio performance in the six months to 31 December 2025 * +8.4% Investment portfolio performance in the 12 months to 31 December 2025 * +11.1% Financial highlights FY2026 Interim Results Investment portfolio outperformance of the S&P/ASX 200 Accumulation Index in the six months to 31 December 2025 +4.8%
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4 Investment portfolio performance s ince inception at 28 February 2026 Investment portfolio performance is before expenses, fees, taxes and the impact of capital management initiatives to compare to the relevant index which is before expenses, fees and taxes. Investment portfolio performance Fin YTD 1 yr 3 yrs %pa 5 yrs %pa 7 yrs %pa Since inception %pa (May - 16) WAM Leaders Investment Portfolio 13.7% 18.0% 7.5% 11.0% 13.0% 12.4% S&P/ASX 200 Accumulation Index 9.8% 16.2% 12.2% 10.8% 9.9% 9.8% Outperformance +3.9% +1.8% - 4.7% +0.2% +3.1% +2.6%
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5 Fully franked dividends since inception Ex - dividend date 15 April 2026 Dividend record date (7:00pm Sydney time) 16 April 2026 Last election date for DRP 20 April 2026 Payment date 30 April 2026 Key dividend dates 1.0 2.5 2.65 3.25 3.5 4.0 4.5 4.6 4.7 4.8 2.0 2.5 3.0 3.25 3.5 4.0 4.5 4.6 4.7 4.8 - 2.0 4.0 6.0 8.0 10.0 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26 Fully franked interim dividend Fully franked final dividend Annualised fully franked interim dividend Annualised fully franked interim dividend yield ^ 7.0% Increased fully franked interim dividend 4.8 cps Grossed - up dividend yield # 10.0% ^ Based on the 9 March 2026 share price of $1.375 per share and the annualised FY2026 fully franked interim dividend of 9.6 cen ts per share. # Grossed - up dividend yield includes the value of franking credits and is based on a tax rate of 30.0%. Cents per share
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6 Company Code AAI ALL ANZ BHP BXB Top 20 holdings In alphabetical order at 31 December 2025 Company Code CAR CBA CSL FMG GMG Company Code JHX MPL MQG NAB RIO Company Code WBC WDS WES WHC WOW
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7 Investment Process
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8 Global uncertainty is high, partly because of geopolitics Sources: WAM, Bloomberg
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9 Elevated uncertainty and fragile sentiment are tightening financial conditions Sources: WAM, Bloomberg
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10 Artificial intelligence is creating a unique type of uncertainty Sources: WAM, Bloomberg, EPU, Reyes
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11 There are upside risks to US inflation, in part from supply chain disruption Sources: WAM, Bloomberg
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12 There are upside risks to US inflation expectations in bond market pricing Sources: WAM, Bloomberg
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13 Mind the inflation spiral – between oil and expected inflation Sources: WAM, Bloomberg
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14 Higher oil prices and supply chain disruptions add to the case for rate hikes Sources: WAM, Bloomberg
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15 But Australian domestic demand growth is clearly slowing Sources: WAM, Bloomberg
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16 There is a global case for rotating into quality longer term Sources: Wilson Asset Management, Bloomberg, EPU, Reyes
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17 2026 Shareholder Presentations Scan QR to register or visit https://wilsonassetmanagement.com.au/events/ Canberra Sydney Brisbane Tuesday 21 April 2026 Hotel Realm (National Ballroom) 18 National Circuit, Barton ACT 2600 Wednesday 22 April 2026 The Fullerton (Grand Ballroom) 1 Martin Place, Sydney NSW 2000 Thursday 23 April 2026 Sofitel Brisbane Central (Grand Ballroom) 249 Turbot Street, Brisbane City QLD 4000 Melbourne Perth Adelaide Hobart Tuesday 28 April 2026 Sofitel Melbourne on Collins (Grand Ballroom) 25 Collins Street, Melbourne VIC 3000 Wednesday 29 April 2026 The Ritz - Carlton (Elizabeth Quay Ballroom) 1 Barrack Street, Perth WA 6000 Thursday 30 April 2026 Hilton Adelaide (Grand Ballroom) 233 Victoria Square, Adelaide SA 5000 Friday 1 May 2026 Crowne Plaza Hobart (Centurion Ballroom) 110 Liverpool Street, Hobart TAS 7000
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