AMCIL Limited · ASX:AMH
AMCIL — Investor Presentation (March 2026)
26 slides from AMCIL's investor presentation, Mar 12, 2026
Slide 1: AMCIL Limited Information Meetings – Presentation
12 March 2026 The Manager ASX Market Announcements Australian Securities Exchange Exchange Centre Level 4 20 Bridge Street For personal use only Sydney NSW 2000 Electronic Lodgement AMCIL Limited Information Meetings – Presentation Dear Sir / Madam Please find attached the presentation to be given a
Slide 2: Shareholder Meetings March 2026
For personal use only Shareholder Meetings March 2026 ASX: AFI ASX: DJW ASX: MIR ASX: AMH
Slide 3: Disclaimer
Disclaimer Australian Foundation Investment Company, Djerriwarrh Investments Limited, Mirrabooka Investments Limited and For personal use only AMCIL Limited and their service provider Australian Investment Company Services Limited (AICS) (AFSL 303209), their related entities and each of their respec
Slide 4: Agenda
Agenda • Introduction - Mark Freeman For personal use only • Market Overview - Brett McNeill and Kieran Kennedy • Portfolios: o Brett McNeill - AFIC o Olga Kosciuczyk - Djerriwarrh o Kieran Kennedy - Mirrabooka o Mark Freeman - AMCIL • Closing Remarks - Mark Freeman • Questions Shareholder Meeting M
Slide 5: The Australian sharemarket finished February at an all-time high level
The Australian sharemarket finished February at an all-time high level S&P/ASX 200 Price Index For personal use only Source: FactSet Shareholder Meeting March 2026 4
Slide 6: Within the Index, there has been significant divergence between companies
Within the Index, there has been significant divergence between companies Share price performance over the year to February 2026 For personal use only Source: FactSet Shareholder Meeting March 2026 5
Slide 7: The Australian sharemarket is offering its lowest dividend yield in 20 years
The Australian sharemarket is offering its lowest dividend yield in 20 years S&P/ASX 200 Dividend Yield (including franking) For personal use only Source: FactSet, Consensus Next 12 Months Forecast Dividend Yield grossed up for franking credits; assumes 70% franking level for the Index. Shareholder
Slide 8: Iran War – a resolution remains unclear
Iran War – a resolution remains unclear Oil Price: Brent Crude Oil, USD/bbl For personal use only Source: FactSet Shareholder Meeting March 2026 7
Slide 9: Companies such as Woodside are well positioned to deal with market dislocations
Companies such as Woodside are well positioned to deal with market dislocations For personal use only Source: Woodside Investor Presentation, November 2025 Shareholder Meeting March 2026 8
Slide 10: Artificial Intelligence (AI) – How are corporates responding?
Artificial Intelligence (AI) – How are corporates responding? A notable shift from curiosity to adoption For personal use only Significant change in Use cases evolving: from Divergent views on employment business processes to simple efficiency to more impacts: occur. complex product • some see techn
Slide 11: Artificial Intelligence (AI) – How is it featuring in our investment thinking?
Artificial Intelligence (AI) – How is it featuring in our investment thinking? We are alert and open-minded but competitive advantage assessment was already key to our investment process. For personal use only Effective defence to come from: Significant change unsettles Market volatility creates a •
Slide 12: Four funds with different investment objectives
For personal use only Diversified Australian and Fully franked yield that is Australian and New High conviction Managing four New Zealand Equities – higher than that available Zealand small/midcap portfolio, strong capital funds with different investment objectives capital and fully franked from the
Slide 13: AFIC Portfolio Performance to February 2026
AFIC Portfolio Performance* to 28 February 2026 For personal use only * Per annum returns. Assumes the full benefit of franking credits. Past performance is not indicative of future performance. Shareholder Meeting March 2026 12
Slide 14: AFIC: Recent transactions
AFIC: Recent transactions Buying - Income Buying - Growth For personal use only Sales Major transactions for Calendar Year 2026 to 28 February shown. Shareholder Meeting March 2026 13
Slide 15: Djerriwarrh: Enhanced Yield - February 2026
Djerriwarrh: Enhanced Yield - 28 February 2026* For personal use only *Assumes an investor can take full advantage of the franking credits. Yield based on the interim dividend and final dividend paid – in total 15.5 cents per share. Past performance is not indicative of future performance. Sharehold
Slide 16: Djerriwarrh: Option Income ($million) over the last financial years
For personal use only Djerriwarrh: Option Income ($million) over the last 5 financial years Shareholder Meeting March 2026 15
Slide 17: Djerriwarrh: Capital Growth - February 2026
Djerriwarrh: Capital Growth - 28 February 2026* Portfolio Per Annum Returns For personal use only *Assumes an investor can take full advantage of the franking credits. Past performance is not indicative of future performance. Shareholder Meeting March 2026 16
Slide 18: Djerriwarrh’s key recent buying: JBH and CAR
Djerriwarrh’s key recent buying: JBH and CAR Dividends Per Share For personal use only Source: FactSet, Dividends don’t include franking credits. FY26e is Consensus Forecast Dividend Shareholder Meeting March 2026 17
Slide 19: Mirrabooka Portfolio Performance – Per Annum Returns to February 2026
Mirrabooka Portfolio Performance – Per Annum Returns to 28 February 2026* For personal use only * Assumes an investor can take full advantage of the franking credits. Mirrabooka's portfolio return is also calculate after management fees, income tax and capital gains tax on realised sales of investme
Slide 20: Mirrabooka Top Holdings – February 2026
Mirrabooka Top 20 Holdings – 28 February 2026 % of % of Company Portfolio Ownership Period Company Portfolio Ownership Period 1 7.4% 9 yrs 2 yrs 11 2.1% For personal use only 2 3.9% 20 yrs 12 2.0% 6 yrs 3 3.4% 15.5 yrs 13 2.0% 2.5 yrs 4 3.3% 9.5 yrs 14 2.0% 6.5 yrs 5 3.0% 14.5 yrs 15 1.8% 1.5 years
Slide 21: AMCIL Portfolio Performance – Returns to February 2026
AMCIL Portfolio Performance – Returns to 28 February 2026* Portfolio Per Annum Returns 15 Year Portfolio and Share Price Returns For personal use only * Assumes an investor can take full advantage of the franking credits. AMCIL’s portfolio return is also calculated after management fees, income tax
Slide 22: AMCIL had no exposure to the banks and gold sectors
AMCIL had no exposure to the banks and gold sectors… with CAR Group typical of many of our holdings that have retraced For personal use only CBA Price to Earnings Ratio Gold New York Spot (US$/oz) CAR Group Price to Earnings Ratio Times Times Source: FactSet Shareholder Meeting March 2026 21
Slide 23: Portfolio well positioned for the future
Portfolio well positioned for the future AMCIL’s portfolio is well placed to navigate a wide range of economic outcomes For personal use only Growth Stalwart Income Cyclical / Asset Play Shareholder Meeting March 2026 22
Slide 24: Share price relative to Net Asset Backing – February 26
For personal use only Share price relative to Net Asset Backing – 28 February 2026 Shareholder Meeting March 2026 23
Slide 25: Long term history of AFIC share price relative to NTA
Long term history of AFIC share price relative to NTA 25.0% Property crash/bank RBA interest rate crisis COVID -19 cutting cycle For personal use only 20.0% Tech crash Post GFC 15.0% RBA interest rate cutting cycle 10.0% 5.0% 0.0% -5.0% Pre GFC Black Monday Aug 2011 -10.0% /US credit rating downgrad
Slide 26: For personal use only
For personal use only 25 May 2024