NTA & Top 25 Investments as at 31 October 2026

Dear Sir / Madam Monthly Net Tangible Asset Backing Per Share and Top 25 Investments. 31 October 2026 Before Tax $7.92 Ex Div After Tax $6.62 Ex Div 30 September 2026 Before Tax $7.82 Cum Div After Tax $6.58 Cum Div The October 2026 figures are after the provision of quarterly dividend of 6.75 cents per share and the special dividend of 2.5 cents per share, and the September 2026 figures are before the provision for the dividend. *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 October 2026. Yours faithfully Matthew Rowe Company Secretary Release authorised by Company Secretary