NTA & Top 25 Investments as at 31 July 2025

MKTUPDTE

Fri, Aug 08 2025 04:03 pm

Dear Sir / Madam

Monthly Net Tangible Asset Backing Per Share and Top 25 Investments.

31 July 2025
Before Tax $8.51 Cum Div
After Tax $7.10 Cum Div

30 June 2025
Before Tax $8.33 Cum Div
After Tax $6.97 Cum Div

The Net Tangible Asset Backing per share for both 30 June and 31 July 2025 are before the provision of the final dividend of 14.5 cents per share and the special dividend of 5 cents per share.

*The before and after tax numbers relate to the provision for deferred tax on the unrealised gains in the Company’s investment portfolio. The Company is a long term investor and does not intend disposing of its total long term investment portfolio. Under current Accounting Standards, the Company is required to provide for tax on any gains that may arise on such a theoretical disposal, after the utilisation of brought forward losses.

All figures in $AUD.

Attached is a list of the Company’s Top 25 Investments as at 31 July 2025.

Yours faithfully

Matthew Rowe
Company Secretary

Release authorised by Company Secretary.