Plato Income Maximiser Ltd. · ASX:PL8
Plato Income Maximiser — H1 2026 Earnings Presentation
25 slides from Plato Income Maximiser's earnings presentation, Feb 26, 2026
Slide 1: Shareholder webinar reminder and presentation on half-year results
Plato Income Maximiser Limited (Company) Level 25 Australia Square Tower 264 George Street Sydney NSW 2000 T: 1300 010 311 E: invest@plato.com.au ACN 616 746 215 26 February 2026 By Electronic Lodgement Market Announcements Office ASX Ltd 39 Martin Place For personal use only SYDNEY NSW 2000 Dear Si
Slide 2: Company Half-Year 1HFY26 Results
COMPANY HALF-YEAR 1HFY26 RESULTS PLATO INCOME MAXIMISER LIMITED ASX: PL8 For personal use only 1
Slide 3: Disclaimer
Disclaimer Note: Past performance is not a reliable indicator of future performance. This communication has been prepared by Plato Income Maximiser Limited ABN 63 616 746 215 (PL8). Nothing contained in this communication constitutes investment, legal, business, taxation or other advice. This commun
Slide 4: Agenda
Agenda 01 PL8 Company Update For personal use only 02 Market update 03 Questions 3
Slide 5: PL8
For personal use only 4 PL8 Company Update
Slide 6: 1HFY26 results highlights
1HFY26 results highlights CONTINUING TO DELIVER ON COMPANY OBJECTIVES 1HFY26 Portfolio performance Total dividends 1HFY26 profit (incl. franking) paid in 1HFY26 For personal use only $28.4m 4.8%1 (+ 0.6% to benchmark2) $0.0333 • 1HFY26 operating profit after tax of $28.4 million (-$11.3 million to 1
Slide 7: PL8 NTA performance breakdown for 1HFY26
PL8 NTA performance breakdown for 1HFY26 PRE-TAX NTA PER PL8 SHARE* For personal use only Source: Plato. *Excludes franking credits. Portfolio performance is net of management fees. 6
Slide 8: PL8 investment portfolio performance
PL8 investment portfolio performance PERFORMANCE TO 31 DECEMBER 2025 AFTER FEES AND COSTS For personal use only PORTFOLIO PERFORMANCE1 6 MTHS 1 YR P.A. INCEPT. P.A. Total return2 4.8% 13.0% 10.3% Income3 3.3% 7.0% 7.6% Benchmark total return2 4.2% 11.5% 10.1% Excess total return2 0.6% 1.5% 0.2% Exce
Slide 9: PL8 delivering high income month realised yield
PL8 delivering high income 12 month realised yield* 8.0% For personal use only 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% S&P/ASX 200 PL8 CASH 3.2 4.9 FRANKING FRANKING 1.0 2.1 Source: Plato, Bloomberg *to 31 December 2025 8
Slide 10: PL8 portfolio outperforming the Benchmark over full investment cycle
PL8 portfolio outperforming the Benchmark over full investment cycle $550,000 Plato Aust. Shares Income Fund v S&P/ ASX200 Accumulation Series (incl. Franking Credits) $500,000 For personal use only $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Sep-11 Sep-12 Sep-
Slide 11: Delivering consistent monthly income
Delivering consistent monthly income MONTHLY DIVIDENDS STEADY AT HIGHER LEVEL OF $0.0055 PER SHARE For personal use only Only Australian LIC paying monthly fully franked dividends Source: Plato. While monthly income has been consistent since October 2017, this may change in the future. The declarati
Slide 12: Share price at a premium to NTA
Share price at a premium to NTA PL8 PRICE VS PRE-TAX NTA SINCE LISTING For personal use only Source: Plato, IRESS. Past performance is illustrative only and not indicative of future performance. 11
Slide 13: Market Update
For personal use only 12 Market Update
Slide 14: Retirees are different
Retirees are different • Retirees are different to accumulators • They need to live off the income from their investments: For personal use only • Investment income replaces regular salary • They are taxed differently: • The first $2.0m in pension phase superannuation is tax free whereas accumulatio
Slide 15: Pension phase super tax rates are different
Pension phase super tax rates are different (what about that super cap?) $1.60 For personal use only $1.40 $1.20 $1.00 $0.80 $0.60 $0.40 $0.20 $- Pension/Tax Exempt (0%) Super (15%) Super (30%) Individual (39%)# Top Individual (47%)* Fully Franked Dividend Long Term Capital Gain Short Term Capital G
Slide 16: Reporting Season Analysis: CBA
Reporting Season Analysis CBA For personal use only • Strong result, FY25 Cash NPAT of $5.4bn, up 6% from PCP, 2-3% above expectations. • Interim Dividend 235c vs 225c last year, up 4%. Equates to 4.5% annual gross yield. • Payout Ratio 74% of 1H FY26 Earnings, middle of 70-80% target. • Net Interes
Slide 17: Reporting Season Analysis: CBA
Reporting Season Analysis CBA For personal use only Source: Plato 16 *Companies mentioned on this slide are illustrative only and not a recommendation to buy or sell any particular security
Slide 18: Reporting Season Analysis: JB Hi-Fi
Reporting Season Analysis JB Hi-Fi For personal use only • 1H FY26 sales up 7.3%, EPS up 7.1%, marginally above expectations. Driven by higher sales in all divisions. • Final Dividend 210c. Equates to 6.7% annual gross yield (incl. special in Aug). 75% payout ratio. • January sales slowed as consume
Slide 19: Reporting Season Analysis: AGL Energy
Reporting Season Analysis AGL Energy Steam billows from the cooling towers at the Loy Yang A coalfired power station operated by AGL Energy Ltd front and Loy Yang B coalfired power... For personal use only • Underlying NPAT down 6% to $353m from PCP but well above expectations. • Final Dividend 24c
Slide 20: Reporting Season Analysis: Telstra
Reporting Season Analysis Telstra telstra store - telstra stock pictures, royalty-free photos images For personal use only • Good result, 1H FY26 NPAT of $1.2bn up 8% from PCP but cash earnings up 17% as capex fell 5%. Above expectations. • Final Dividend 10.5c vs 9.5c pcp (up 10.5%). Equates to 5.8
Slide 21: Reporting Season Analysis: Iron Ore Miners
Reporting Season Analysis IRON ORE Miners # For personal use only Underlying NPAT up 22%, strong performance from copper Underlying EBITDA up 9%. Divd US$0.73 vs US$0.50 pcp (up 46%), 60% payout. Divd US$2.54 vs $2.25 pcp (up 13%), 60% payout. 5.3% annual yield 5.2% annual yield >50% of EBITDA from
Slide 22: Top Dividend Traps
Top Dividend Traps Be careful looking at historical yield HIST. ANNUAL YIELD % DIVIDEND CUT STOCK • Dividend Cuts: (31 DEC 2025) For personal use only • Treasury Wines 100% • G8 Education 100% • Spark NZ 41% 9.9% 100% 11.4% 100% 11.6% 41% Source: Plato, Bloomberg *Companies mentioned on this slide a
Slide 23: Dividend outlook within normal range
Dividend outlook within normal range Average % Chance of Dividend Cuts for Australian Market Div Cut Probability - Australia Dec 2001 - Feb 2026 For personal use only 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 01/02 07/03 01/05 07/06 01/08 07/09 01/11 07/12 01/14 07/15 01/17 07/18 01/20 07/21 01/23 0
Slide 24: The Income Summary: Cautiously Optimistic
The Income Summary: Cautiously Optimistic For personal use only Caution: Tariffs are impacting global trade and confidence but impacts on Australia are relatively small Optimism: Dividends have fallen but commodity prices have risen recently improving dividends from miners Active fund management cri
Slide 25: Thank you
For personal use only 24 Thank you Questions
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