Whitefield Income Limited · ASX:WHI
Whitefield Income — Corporate Update (February 2026)
22 slides from Whitefield Income's corporate update, Feb 18, 2026
Slide 1: Update Dec 2025: Whitefield Industrials Q3, Whitefield Income HY
For personal use only UPDATE Dec 2025 Whitefield Industrials Q3 Whitefield Income HY
Slide 2: Experience, Efficiency, Innovation, Reliability, Integrity
Experience For over 100 years Whitefield has provided Australian investors with an avenue for efficient wealth creation. For personal use only Efficiency Whitefield Industrials - launched 1923 Whitefield Income – launched 2024 Innovation Our longevity is testament to our successful formula, a proces
Slide 3: Translating strength of return into regular franked dividends
Translating strength of return into regular franked dividends Angus Gluskie Chairman For personal use only Structured Monthly Franked Dividends Systematically investing over the most Base monthly dividend 7.6%pa(1,2) statistically favourable periods in ASX300 Plus top up dividends 6 mthly(2) Equitie
Slide 4: Income and Profit HY
31 Dec 2025 Income and Profit HY Angus Gluskie Chairman For personal use only _Strong earnings • Gross Income(1) $11.1m • NPAT $7.0m • EPS 4.1 cps • Income levels remained robust and were consistent with the prior 5 years of strategy operation 12.7%pa Gross income (1) Since strategy inception Jan 21
Slide 5: Dividends
31 Dec 2025 Dividends Angus Gluskie Chairman For personal use only _Dividends • 7.6%pa gross monthly franked dividends(1) • + Six monthly top up dividend 0.3 cents for this half year (payable March) 8.2%pa Annualised current monthly and six monthly dividend (1) (1) Gross dividend inclusive of franki
Slide 6: Investment Returns
31 Dec 2025 Investment Returns Will Seddon Director For personal use only _Notes Past performance reflects economic conditions and management over the years shown and should not be considered a forecast of future outcomes. Performance for periods greater than 1 year shown as annualised equivalent. P
Slide 7: Exposures
31 Dec 2025 Exposures Will Seddon Director For personal use only SECTOR EXPOSURES TOP 15 EXPOSURES Materials IAG APA Financials RSG Real Estate WPR Industrials CQR Consumer Discretionary CRN WGX Health Care RMS Energy SUN Utilities IGO Consumer Staples RGN SFR Information Technology MFG Communicatio
Slide 8: Monthly Exposures
Monthly Exposures Will Seddon Director For personal use only 8
Slide 9: Net Asset Backing v Market Price
31 Jan 2026 Net Asset Backing v Market Price Angus Gluskie Chairman For personal use only _WHI shares continue to trade strongly relative to asset backing • A growing base of investors • Slight reduction in premium following the November capital raising • However premium has again increased during J
Slide 10: November Capital Raising Result
November 25 Capital Raising Result Angus Gluskie Chairman For personal use only _WHI SPP and Placement • Capital increased by $79m during November • Strong take up from existing investors in SPP • Placement was closed early due to demand exceeding capacity 10
Slide 11: Strength of long term return through dividends and capital growth
Strength of long term return through dividends and capital growth Angus Gluskie Chairman For personal use only Structured Half Yearly Franked Dividends Quantitative analysis framework Currently 5.6%pa(1,2) Facilitates consistent decision making (1) Current rate, gross of franking credits and based o
Slide 12: Income and Profit – Quarter
31 Dec 2025 Income and Profit – Quarter 3 Angus Gluskie Chairman For personal use only _Underlying income growth from the majority of the portfolio coupled with the non-repeat of special dividends • NPAT $15.0m (PY $15.0m) • EPS 12.5 cps (PY 12.5 cps) • Prior year Westpac and Woolworths special divi
Slide 13: Dividends
31 Dec 2025 Dividends Angus Gluskie Chairman For personal use only _ Dividends • Next dividend payable Jun 26 • To be determined following full year result • Currently expected to match half year dividend of 10.5 cents per share, fully franked 5.6%pa Current gross dividend (1) (1) Gross dividend inc
Slide 14: Quarter Investment Return
31 Dec 2025 Quarter 3 Investment Return Will Seddon Director For personal use only _Notes Past performance reflects economic conditions and management over the years shown and should not be considered a forecast of future outcomes. Portfolio and Benchmark performance are before expenses and company
Slide 15: Exposures
31 Dec 2025 Exposures Will Seddon Director For personal use only 15
Slide 16: Net Asset Backing & Price
31 Jan 2026 Net Asset Backing & Price Angus Gluskie Chairman For personal use only _Price and asset backing divergence has started to narrow, however continues to provide opportunities for buyers • A buyer and holder of WHF shares at a 10% discounted price: ▪ Has 10% more assets generating return fo
Slide 17: Trump 2.0 policy uncertainty creates opportunities for differential returns
Uncertainty around the Trump 2.0 policy agenda creates persistent opportunities for Will Seddon Director differential investment returns. For personal use only Sharp changes in direction and Wide stock dispersion in Australia wide dispersion across markets as markets speculated on potential Conclusi
Slide 18: Areas of bipartisan agreement across key Trump 2.0 ideologies and policies
Areas of bipartisan agreement across key Trump 2.0 ideologies and policies… Will Seddon Director Level of bipartisan support for Trump 2.0 ideologies For personal use only Ideology Strategy & Rationale Level National Security Targeted dual use (commercial and military) denial. HIGH Economic Security
Slide 19: A sustained shift to strategic globalisation brings opportunities
A sustained shift to strategic globalisation brings many opportunities for differential Will Seddon Director investment returns going forward. For personal use only MACRO CONTEXT STOCK FUNDAMENTALS A reordering of global trade and technology flows WHF & WHI well-placed to benefit through their throu
Slide 20: Any questions?
For personal use only Any questions? 20
Slide 21: Thank you for your attendance
Thank you for your attendance. For personal use only 21
Slide 22: Important Information
_Important Information General, Limited Commentary: This document contains information about Whitefield and the markets in which it operates. The document is limited in scope and accordingly may not contain all the information necessary for an investor to make an investment decision. It is not a per