WAM Global Ltd. · ASX:WGB
WAM Global — FY2023 Earnings Presentation
13 slides from WAM Global's earnings presentation, Sep 1, 2023
Slide 1: FY2023 Full Year Results Webinar
W A/M Global FY2023 Full Year Results Webinar Catriona Burns Nick Healy William Liu Lead Portfolio Manager Portfolio Manager Senior Investment Analyst
Slide 2: Disclaimer
Disclaimer W/A|M Global Wilson Asset Management and their related entities and each of their respective directors, officers and agents 2Xtogether the Disclosers) have prepared the information contained in these materials in good faith. Cc ObHowever, no warranty (express or implied) is made as to the
Slide 3: For personal use only
For personal use only 49.4 cps • * +19.3% 11.5 cps $2.28 ** 5.8% 35.75 cps
Slide 4: US Federal Funds Interest Rate and US Inflation
US Federal Funds Interest Rate ical fo} ae Source: Federal Reserve. US Inflation: Consumer Price Index (year-on-year%) 10.0% 8.0% 6.0% 4.0% 20% NA so We -2.0% — CPI YOY Index - Last Price Fed Inflation Target Source: Bureau of Labor Statistics.
Slide 5: Economic Surprise Index and Composite PMI
Economic Surprise Index 200 150 100 50 For personal use only -50 -100 -150 -200 Mar 23 Apr 23 May 23 Jun 23 Jul 23 Aug 23 —China United States ——Europe Source: CESICNY Index: Citi Economic Surprise Index — China; CESIUSD Index: Citi Economic Surprise Index — United States; CESIEUR Index: Citi Econom
Slide 6: Markets are forward looking and therefore lead the real economy
For personal use only Markets are forward looking and therefore lead the real economy... At the start of the At this point in the cycle, exuberance i cycle, the economy is |= ———> makes investors in a recession. want to buy more stocks at high prices. TOP OF STOCK PEAK OF MARKET CYCLE ECONOMIC CYCLE
Slide 7: WAM Global Investment Portfolio Geographic Exposure
For personal use only WAM Global Investment Portfolio Geographic Exposure as at 30 June 2023 = United States of America: 68.1% = Germany: 8.7% \\ France: 3.6% N @ Australia: 31% United Kingdom: 3.0% ™ Japan: 2.6% @ Spain: 1.9% = Other: 3.8% ™ Cash: 5.2% W/A|M Global
Slide 8: MSCI World Large Cap Index & MSCI World SMID Index
MSCI World Large Cap Index & MSCI World SMID Index lav} 200 -100 2000 2003 2006 2009 —MSCI World Large Cap Index Source: MSCI (Cumulative Returns), Bloomberg. 2012 2015 2018 2021 MSCI World SMID Index W/A|M Global 60 40 20 -40 2018 2019 2020 2021 2022 2023 —MSCI World Large Cap Index MSCI World SMID
Slide 9: MSCI World SMID Cap vs. Global Large Cap relative valuation
For personal use only MSCI World SMID Cap vs. Global Large Cap rel. Valuation WIAIM Global 140 130 120 rn " VV / 1.00 0.90 0.80 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Source: MSCI SMID Index & MSCI World Large Cap Index (Blended 12m fwd. P/E), Bloomberg.
Slide 10: Earnings season by sector
For personal use only Earnings season by sector WIA|M Global 120% 100% — | | | | | L | 80% L LI 60% 40% 20% 0% s\ 2 we se se s\ @ S) s& s @ Re RC S) Ss Ro Rey “ S SS § xO RS se a = se Se s a Ss we & XS & J Ry < < Ss Ss s @ Above In-Line ™ Below US Q2 2023 Earnings Season Source: FactSet. 10
Slide 11: Compelling investment thematics
Compelling investment thematics For personal use only Health and Wellbeing Qa 0000 E | Edwards NASDAQ: ICLR NYSE: EW Data and Analytics A Adobe NASDAQ: ADBE SARA ETR: SAP W/A|M Global Infrastructure Underbuild a QUANTA nyse: PwR SERVICES, INC. Argplus® BME: APPS 1
Slide 12: WAM Global investment portfolio Top holdings
WAM Global investment portfolio Top 20 holdings W/A|M Global _>as at 30 June 2023 Cc je) WaAlphabetical order 12) =) COcompany Code Company Code Company Code Company Code Cc {e) AI Adobe ADBE US srackYfxrcie BKI US expedia group” EXPE US COTTA PWRUS Y o © Gallagher AJGUS @CME Group CME US HCA: HCA U
Slide 13: Q&A
For personal use only Q&A Join more or > je) a) 0O oF ) ) ro) weekly readers Wilson Asset = Get in touch info@wilsonassetmanagement.com.au (02) 9247 6755 www.wilsonassetmanagement.com.au 00000 13