Solaris Australian Equity Income Plus Ltd. · ASX:SET
Solaris Australian Equity Income Plus — Investor Presentation (November 2026)
42 slides from Solaris Australian Equity Income Plus's investor presentation, Nov 9, 2026
Slide 1: Capital Raise and Company Update
rsonal use only Solaris Australian Equity Income Plus Limited (ASX:SET) Capital Raise and Company Update NOVEMBER 2026
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer This investor presentation (Presentation) is dated 9 November 2026 and has been prepared by Solaris Company and the Investment Manager and is current as at the date of this Presentation unless otherwise Australian Equity Income Plus Limited (ACN 695 278 810) (SET
Slide 3: Important Information and Disclaimer
Important Information and Disclaimer No liability This Presentation is not a prospectus, disclosure document, product disclosure statement or other Each recipient of this Presentation should make their own enquiries and investigations regarding all offering document under Australian law or the law o
Slide 4: Important Information and Disclaimer
Important Information and Disclaimer Not for release or distribution in the United States This Presentation must not be taken into, distributed or JLMs and their Extended Parties: released in the United States or distributed to any person in the United States or to any person acting for the (i) disc
Slide 5: Presenting today
Presenting today rsonal use only Bachelor of Business – Accountancy from the Queensland University of Technology and a Graduate Diploma in Applied Michael Bell Finance through the Securities Institute of Australia. CIO AND ANALYST / ALTERNATE DIRECTOR Michael was a Founder of Solaris Investment Mana
Slide 6: Capital Raise and Company Update summary
Capital Raise and Company Update Delivering on portfolio objectives Monthly Fully Franked Dividends rsonal use only • Portfolio has outperformed both total return and income objectives since IPO. • Successfully delivering monthly fully franked dividends • Delivering 2.62% Total Return (vs Benchmark:
Slide 7: Capital Raise
ASX:SET Capital Raise rsonal use only Why raise additional Deal Summary Benefits to Shareholders capital now? • Capital raise encompassing: • SET has delivered on all • Improved liquidity objectives since listing • 1 for 3 Entitlement (up to $63.4m) • Lower Company costs per share • Strong interest
Slide 8: Why growing SET benefits shareholders
Why growing SET benefits shareholders Improved liquidity rsonal use only • A larger market capitalization and broader shareholder register support deeper on-market trading, making it easier for shareholders to buy and sell. Across the LIC sector, larger market capitalizations are associated with hig
Slide 9: Why raise additional capital now?
Why raise additional capital now? SET has delivered on all objectives since listing Delivering on investment portfolio objectives* rsonal use only The investment portfolio has outperformed the benchmark: - Total Return1: 2.62% Portfolio Return (Inc Franking) vs 2.14% Benchmark Return2 (Inc Franking)
Slide 10: Getting SET ahead of the next major dividend window
Why raise additional capital now? Getting SET ahead of the next major dividend window Dividend estimates for the S&P/ASX 200 Index rsonal use only 45% SET Balance Sheet well positioned 40% 40% Profit and franking reserves have capacity to support additional capital while maintaining the 35% current
Slide 11: Company and Portfolio Update
Company and Portfolio Update rsonal use only ‹#› | Solaris Investment Management 11
Slide 12: Solaris Australian Equity Income Plus Ltd
Solaris Australian Equity Income Plus Ltd (ASX:SET) Solaris Australian Equity Income Plus Ltd is an ASX-listed investment company designed to provide tax aware investors with exposure to an actively managed portfolio of Australian shares, with a focus on delivering regular monthly income in the form
Slide 13: SET Price vs NTA
SET Price vs NTA The SET share price and NTA have appreciated since listing on 17 April 2026 Share Price and Net Tangible Assets since listing rsonal use only $2.25 $2.20 $2.15 Share Price $2.10 NTA (Pre tax) $2.05 S&PASX200 Price Rescaled $2.00 $1.95 $1.90 13-Apr-26 13-May-26 13-Jun-26 13-Jul-26 13
Slide 14: SET Dividends
SET Dividends The SET Board was pleased to announce the next series of monthly fully franked dividends. The fully franked dividends are equivalent to 6% annualised gross yield (including franking) based on the IPO price1. rsonal use only Cash Dividend Franking Key monthly November December January 1
Slide 15: Investment Portfolio Strategy
Investment Portfolio Strategy Solaris manages the Company’s investment portfolio with a dual focus on outperformance and income: rsonal use only Investing for Outperformance Investing for Income • Proprietary fundamental research and analysis • Disciplined approach to income generation focused on ex
Slide 16: Investment Portfolio Performance
Investment Portfolio Performance Performance to 31 October 2026 rsonal use only Investment Portfolio SET SET SET SET Since Strategy Performance 1 Month 3 Months 6 Months Inc p.a. Since Inc pa4 13 Apr 2026 12 Dec 2016 A strong start Portfolio Return (Inc Franking)1 0.87% 0.25% 5.45% 2.62% 10.56% deli
Slide 17: Investment Portfolio Overview
Investment Portfolio Overview A portfolio of ASX listed securities managed by Solaris Investment Management. Portfolio Stats Portfolio vs Market Stats Sector Weights rsonal use only 48 $39.2B 18.0x 17.5x 14.5% 14.0% Energy (5%) Number of Holdings Average Market Cap 6% 4% Materials (23%) 17.0x 13.5%
Slide 18: Investing for Income
Investing for Income Ordinary and special dividend income a feature Top 25 SET Dividend Contributors Including Franking Relative to S&PASX200 rsonal use only 1.0% 2 Specials 0.8% 0.6% Special 0.4% Special 0.2% Special Special Special 0.0% SET Grossed Up Dividend Contribution ASX200 Grossed Up Divide
Slide 19: Reporting Season: Dividends
Reporting Season: Dividends August Reporting season is the opportunity for Solaris to assess companies’ 'Ability' and 'Willingness’ to pay dividends and the outlook for future dividends rsonal use only Reporting season highlights Highlights • Dividends surprised to the upside with 2026 full year div
Slide 20: Solaris Insight: Dividend income
Solaris Insight: Dividend income rsonal use only ASX 200 Dividend Outlook Solaris Dividend Insight 350 Over the past 35 years, ASX 200 dividends have grown at ~4.1% per ASX 200 dividend level (Cents per share) 300 year. 250 Based on Solaris forecasts the expected dividends for the ASX 200 200 is exp
Slide 21: Summary
Summary Delivering on all objectives Why raise additional capital rsonal use only • Portfolio has outperformed both total return and income • Strong interest from investors objectives since IPO. • SET Balance sheet positioned well for additional capital • Delivering 2.62% Total Return (vs Benchmark:
Slide 22: Key Offer Terms
Key Offer Terms Solaris Australian Equity Income Plus Ltd ("SET" or the "Company") is seeking to raise up to approximately A$91.97 million comprising: rsonal use only • a non-underwritten placement of up to approximately 14.1 million new fully paid ordinary shares ("New Shares") to raise Offer Size
Slide 23: Offer timetable
Offer timetable Trading Halt, Announcement of the Offer and Offer Bookbuild Opens Monday, 9 November 2026 rsonal use only Offer Bookbuild Closes 1pm Tuesday, 10 November 2026 Announcement of the Offer results Wednesday, 11 November 2026 Ex-date for Entitlement Offer Friday, 13 November 2026 Record D
Slide 24: Key Risks of the Offer and an Investment in the Company
rsonal use only Key Risks of the Offer and an Investment in the Company ‹#› | Solaris Investment Management 24
Slide 25: Key Risks of the Offer and an Investment in the Company
Key Risks of the Offer and an Investment in the Company Introduction This section identifies the areas the Directors regard as the main risks associated with an investment in the Company. Eligible Shareholders should be aware that an investment in the Company involves many risks, which may be higher
Slide 26: Key Risks of the Offer and an Investment in the Company continued
Key Risks of the Offer and an Investment in the Company continued Risk Description rsonal use only Portfolio income and value depend on the Manager's decisions in selecting and transacting on specific investments. Actual outcomes are Investment strategy and security uncertain and may fall short of i
Slide 27: Key Risks of the Offer and an Investment in the Company continued
Key Risks of the Offer and an Investment in the Company continued Risk Description rsonal use only The payment of dividends is not guaranteed and is at the complete discretion of the Company. The Company may only pay dividends where Dividend risk it considers this financially prudent and has suffici
Slide 28: Appendix
rsonal use only Appendix ‹#› | Solaris Investment Management 28
Slide 29: About Solaris
About Solaris rsonal use only Key Facts Investment Approach Investment Strategies F Highly regarded by research consultants • Australian Equity Investment Specialists • Fundamental analysis to exploit market • Solaris Core Australian Equity Fund with over 25 years experience inefficiencies in foreca
Slide 30: SET Investment Manager and Board
SET Investment Manager and Board Stable and Experienced Board of Directors • The average tenure for the Solaris team is 15 years Neil Cochrane Gemma Dooley Chris Meyer • Every member of the investment team (Analysts and I N D E P E N D E N T , I N D E P E N D E N T , N O N - I N D E P E N D E N T ,
Slide 31: Investment Process
Investment Process Analysts empowered as portfolio managers, with fundamental research driving income and capital growth through the cycle rsonal use only Expected Returns Risk Screening Portfolio Construction (Capital + Cash Dividend + Franking forecasts) Investment Universe ANALYST 1 ANALYST 1 Inv
Slide 32: Investing based on expected returns
Investing based on expected returns Key points: rsonal use only Company A Company B Company C Company D Company E • Chart showing illustrative 25% 24% 23% example of 5 Solaris forecasts Franking 20% • 200+ company total return 17% Solaris Forecasted Return% Dividend forecasts including 15% Dividend
Slide 33: Investing to deliver high income
Investing to deliver high income Maximise the income generated using two complementary approaches rsonal use only Optimising portfolio holdings Tactical income opportunities • Ordinary dividend income • Special dividend and tactical opportunities Optimising the investment portfolio Identifying oppor
Slide 34: Solaris Dividend Advantage
Solaris Dividend Advantage Fundamental research key to assessing ability and willingness to pay dividends Assessment of a company’s ability to pay higher dividends and special dividends rsonal use only Quantitative analysis: Risk assessment: Company Forecasts: Future cash profits and franking Assess
Slide 35: Tactical Income Opportunities: Special Dividends
Tactical Income Opportunities: Special Dividends Solaris fundamental research and management meetings identifies potential Special Dividend rsonal use only opportunities Solaris Research Performance analysis of special dividends pre and post announcement since October 2022 12.0% 10.0% 8.0% Return (%
Slide 36: Why invest in SET
Why invest in ASX:SET Get SET for monthly franked income, plus long-term growth. rsonal use only Total Return & Income Strong Track Record Fundamental Research • Investing to outperform income (inclusive of • Solaris Australian Equity Income Fund in 10th • Investing based on fundamental research and
Slide 37: Features of SET
Features of SET rsonal use only NTA premium support Alignment Simplicity F • No performance fee • Providing monthly dividends@ • All members of the Solaris team participated in the IPO • No complex derivatives (e.g. call option • On market buyback mechanism • The fees payable to the Joint Lead writi
Slide 38: Strategy track record
Strategy track record The unlisted Solaris Australian Equity Income Fund& has delivered consistent returns ahead of the Benchmark Total Return and Benchmark Income over the past 9 years rsonal use only Performance After Fees* 1 Year 3 Years p.a. 5 Years p.a. 7 Years p.a. Inception p.a. Solaris Austr
Slide 39: Solaris Total Return Performance
Solaris Total Return Performance The unlisted Solaris Australian Equity Income Fund has delivered strong total returns & $100.0K Investment - Solaris Income Fund Return Components* rsonal use only $325K $275K Total: $269.3K $225K Franking: $52.9K $175K Cash Yield: $92.0K $125K Capital: $124.4K $75K
Slide 40: Differences between the Unlisted Fund and the Company
Differences between the Unlisted Fund and the Company The Company’s performance is expected to closely track that of the Solaris Australian rsonal use only Equity Income Fund, but will not be identical. Differences are noted in the table below The management fees payable by the Company to the Manage
Slide 41: Disclaimer
Disclaimer Rating and logo published on 09-2026 for (APIR: WHT0012AU, APIR: SOL0001AU,) and 10-2025 for (APIR: WHT2589AU, APIR: WHT3859AU) are issued by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec Research) for use in Australia only. Ratings and logos are general advice only and
Slide 42: Contact details
rsonal use only https://solariswealth.com.au/solaris-australian-equity-income-plus-limited-asx-set/ Solaris Australian Equity Income Plus Limited Level 20, 66 Eagle Street Brisbane QLD 4000 service@pinnacleinvestment.com ABN 21 695 278 810
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