BKI Investment Co. Ltd. · ASX:BKI
BKI Investment — Shareholder Meeting (October 2026)
31 slides from BKI Investment's shareholder meeting presentation, Oct 13, 2026
Slide 1: ASX Announcement: 2026 Annual General Meeting
BKI INVESTMENT COMPANY LIMITED ABN: 23 106 719 868 ASX Announcement For personal use only 13 October 2026 The Manager Market Announcements Office Australian Securities Exchange Limited Level 27, 39 Martin Place Sydney NSW 2000 2026 Annual General Meeting BKI Investment Company Limited (the Company,
Slide 2: 2026 Annual General Meeting
rsonal use only 2026 Annual General Meeting Tuesday 13th October 2026 MUFG Corporate Markets Level 41, 161 Castlereagh Street, Sydney NSW 2000
Slide 3: Disclaimer
Disclaimer rsonal use only This material has been prepared by Contact Asset Management on behalf of BKI Investment Company Limited. The information within this document is not intended to provide advice to investors or take into account an individual’s financial circumstances or investment objective
Slide 4: Agenda
Agenda rsonal use only 1. Welcome 2. Introductions 3. Chairman’s Address 4. Investment Manager’s Report 5. Questions 6. Formal Business 3
Slide 5: Introductions: Non-Executive Directors
Introductions Non-Executive Directors rsonal use only Robert Millner AO Chairman of the Board Chairman of the Investment Committee Member of the Remuneration and Nomination Committees David Hall AM Independent Non-Executive Director Chairman of the Audit Committee Member of the Remuneration Committe
Slide 6: Introductions: Contact Asset Management
Introductions Contact Asset Management rsonal use only Tom Millner Portfolio Manager Member of the Investment Committee Will Culbert Portfolio Manager Member of the Investment Committee Rob Horne Senior Investment Analyst Belinda Cleminson Company Secretary MGI Sydney Assurance Services Clayton Lawr
Slide 7: Chairman's Address
rsonal use only Chairman’s Address
Slide 8: Full Year Results
Full Year Results For the year ended 30 June 2026 rsonal use only FY2026 FY2025 Movement Result excluding special investment revenue ($m) ($m) (%) Ordinary revenue from Investment Portfolio $67.8 $65.1 4% Total Revenue - Ordinary $70.7 $69.3 2% Operating Result (after tax – before special investment
Slide 9: Full Year Results: Higher Dividends Received
Full Year Results For the year ended 30 June 2026 rsonal use only Higher Dividend Received Full Year Net Operating Result (before special dividends) Major contributors to BKI’s higher Results include: • BHP Group $80m • Harvey Norman Holdings $70m • Telstra Group $60m • Dalrymple Bay Infrastructure
Slide 10: 20+ Years of Strong Dividends
20+ Years of Strong Dividends BKI has a strong history of paying fully franked dividends and offering an attractive yield. rsonal use only 10.00 9.00 FY2026 Full Year 8.00 Dividends of 7.00 6.00 7.95cps up 1% on FY2025 5.00 4.00 3.00 2.00 1.00 0.00 Ordinary Dividends per Share Special Dividends per
Slide 11: Investor Focused
Investor Focused BKI has an investor focused approach. Higher fees don’t automatically translate into better returns. History of BKI’s MER Cumulative Share Price Returns rsonal use only We know that small fees have positive impacts on Assuming all dividends were reinvested and using the investor ret
Slide 12: Investment Manager's Address
rsonal use only Investment Manager’s Address
Slide 13: Portfolio Performance: Top Investments and Returns
Portfolio Performance BKI’s Top 10 Investments and 1 Year Total Shareholder Returns* rsonal use only 1 2 5 BKI Portfolio Weight 4 BKI Portfolio Weight BKI Portfolio Weight BKI Portfolio Weight BKI Portfolio Weight 11.8% 3 6.9% 5.2% 5.0% 7.2% Total Shareholder Return Total Shareholder Return Total Sh
Slide 14: Performance – Portfolio Return
Performance – Portfolio Return As at 30 June 2026 15.0% BKI Portfolio Return rsonal use only 12.0% 12.2% 12.0% 10.5% 10.9% 9.7% 10.2% 10.0% 10.4% 10.0% 9.5% 8.6% 9.0% 8.7% 8.6% 7.6% 5.0% 2.7% 0.0% 6 Mths 1 Year 3 Yrs pa 5 Yrs pa 10 Yrs pa 15 Yrs pa 20 Yrs pa Since Inception 2003 BKI Portfolio Perfor
Slide 15: Performance - Total Shareholder Return
Performance - Total Shareholder Return As at 30 June 2026 15.0% Total Shareholder Returns (TSR) rsonal use only 12.0% 10.7% 10.9% 10.4% 9.8% 9.9%10.2% 9.9% 10.0% 9.2% 9.0% 8.6% 8.3% 8.6% 8.6% 7.6% 5.0% 2.7% 0.0% 6 Mths 1 Year 3 Yrs pa 5 Yrs pa 10 Yrs pa 15 Yrs pa 20 Yrs pa Since Inception 2003 BKI T
Slide 16: Performance – Dividend Yield
Performance – Dividend Yield BKI offers an attractive grossed-up dividend yield compared to post tax cash rates. rsonal use only BKI Dividend Yield History 6.2% 9.0% Grossed-up Dividend Yield* 8.0% V’s 7.0% 3.5% 6.0% Cash Rate Post Tax# 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% BKI Grossed Up Dividend Yield Cas
Slide 17: BKI vs ETFs (Performance + Dividend Yield)
BKI V’s ETF (Performance + Dividend Yield) The attractive dividend yield of BKI is complemented by its portfolio's modest outperformance to major Australian ETF’s. As at 30 June 2026. rsonal use only 1 yr 5yr p.a No of Historical Grossed-up Listed Investment Company (LIC) or Active Mgt Total Total C
Slide 18: Portfolio Movements
Portfolio Movements As at 30 June 2026 rsonal use only Purchases Purchases Sales Sales Add New Reduce Exit Woodside Energy Group Origin Energy Commonwealth Bank Suncorp Group BHP Group Westpac Banking Group National Australia Bank Aurizon Holdings Sonic Healthcare Yancoal Australia APA Group Tuas Li
Slide 19: Pre-Tax NTA Premium/Discount History
Pre-Tax NTA Premium/Discount History As at 30 June 2026 rsonal use only $2.30 30% $2.20 $2.10 $2.00 BKI’s Pre-Tax Net Tangible Assets as at $1.90 20% 30 June 2026 was $2.07. $1.80 $1.70 $1.60 $1.50 10% BKI’s share price of $1.825 represented $1.40 a 11.8% discount to the pre-tax NTA. $1.30 $1.20 0%
Slide 20: FY2027 Update
rsonal use only FY2027 Update As at 30 September 2026
Slide 21: Equity Market Overview: Interest Rate Environment and Inflation
Equity Market Overview Interest Rate Environment and Inflation rsonal use only Inflation remains the central concern in global economic discussions influencing both policy decisions and market sentiment. Consensus expects rate cuts in the medium term. If so, this will be a tailwind for domestically
Slide 22: Equity Market Overview: Reporting Season and Defensive Holdings
Equity Market Overview Reporting Season Overview & Defensive Holdings rsonal use only Strong Performance and Dividends Despite Economic Headwinds • Strong performance - Portfolio outcomes largely met or exceeded market expectations despite elevated funding costs and moderating growth. • Dividend Gro
Slide 23: Equity Market Overview: Structural Growth Drivers
Equity Market Overview Structural Growth Drivers & Capital Discipline Structural Growth Themes rsonal use only • Digital Infrastructure & Data Centres - Accelerated demand benefiting Goodman Group and Stockland; creating spillover demand for energy, utilities and infrastructure. • Resources & Energy
Slide 24: Equity Market Overview: Global Inflation and RBA Trajectory
Equity Market Overview Global Inflation & RBA Rate Trajectory Persistent Global Cost Headwinds Delay Australian Rate Relief to 2027–2029 rsonal use only • Global Economic Headwinds - Ongoing supply chain frictions, energy market pressures and elevated government spending keep cost pressures active g
Slide 25: Portfolio Positioning
Portfolio Positioning As at 30 September 2026 rsonal use only Stock % of Total Portfolio Stock % of Total Portfolio 1 BHP Group 12.3% 11 Transurban Group 3.4% 2 APA Group 7.6% 12 Woolworths Group 2.9% 3 Commonwealth Bank 6.4% 13 Amcor Plc 2.7% 4 Woodside Energy 5.7% 14 Harvey Norman 2.6% 5 National
Slide 26: Portfolio Positioning
Portfolio Positioning As at 30 September 2026 rsonal use only Stock % of Total Portfolio Stock % of Total Portfolio 21 Coles Group 1.6% 31 Regis Healthcare Ltd 0.5% 22 Goodman Group 1.6% 32 IPH Limited 0.4% 23 TPG Telecom 1.3% 33 E&P Financial Group 0.3% 24 Stockland 1.3% 34 Carlton Investments 0.1%
Slide 27: Performance: Portfolio Performance
Performance As at 30 September 2026 BKI Portfolio Performance* rsonal use only 15.0% 12.4% 12.9% 10.9% 11.2% 10.5% 10.5% 10.1% 10.1% 10.4% 10.0% 9.5% 9.0% 8.5% 8.5% 6.7% 6.5% 5.0% 4.1% 0.0% 6 Mths 1 Year 3 Yrs pa 5 Yrs pa 10 Yrs pa 15 Yrs pa 20 Yrs pa Since Inception BKI Portfolio Performance Includ
Slide 28: Performance: Total Shareholder Returns
Performance As at 30 September 2026 BKI Total Shareholder Returns rsonal use only 15.0% 12.9% 12.1% 11.2% 10.5% 10.6% 9.5% 10.0%10.4% 10.0% 9.5% 9.0% 8.5% 8.5% 8.6%8.5% 6.5% 5.0% 4.1% 0.0% 6 Mths 1 Year 3 Yrs pa 5 Yrs pa 10 Yrs pa 15 Yrs pa 20 Yrs pa Since Inception 2003 BKI Total Shareholder Return
Slide 29: Quarterly Dividends
Quarterly Dividends BKI Dividend History rsonal use only 10.00 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 Ordinary Dividends per Share Special Dividends per Share Source: IRESS, Factset, BKI, Contact Asset Management. *BKI’s Total Portfolio includes the reinvestment of dividends and including
Slide 30: FY2027 Update
FY2027 Update As at 30 September 2026 rsonal use only Following the recent August/September reporting season, BKI expects to receive approximately $38.0m in Ordinary Revenue (excluding Special Dividend Income) for the first half of FY2027. This compares to BKI’s first half FY2026 Ordinary Revenue re
Slide 31: Questions
rsonal use only 2026 Annual General Meeting Questions
BKI Investment Company — Shareholder Meeting (October 2026) on 6ix