Canadian General Investments Ltd · TSX:CGI
Canadian General Investments — Shareholder Meeting (April 2026)
24 slides from Canadian General Investments's shareholder meeting presentation, Apr 23, 2026
Slide 1: Canadian General Investments, Limited – Annual General Meeting of Shareholders
TSX: CGI LSE: CGI CANADIAN GENERAL INVESTMENTS, LIMITED Annual General Meeting of Shareholders April 23, 2026 All information as at March 31, 2026 unless stated otherwise
Slide 2: Disclosure
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 2 DISCLOSURE This presentation is for informational purposes only and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon as such. The content is not, and should not b
Slide 3: Canadian General Investments is a fund with a long record of beating the market
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 3 Canadian General Investments is a fund with a long record of beating the market. Its investment focus is Canadian equities, and it’s listed on the Toronto and London stock exchanges. Through a combination of capital gains and divide
Slide 4: Overview
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 4 OVERVIEW Investment Objective & Mandate Strategy CGI is a closed-end equity fund focussed on medium- to long-term • Bottom-up stock selection within an overarching macro investments in primarily Canadian companies. It strives, throu
Slide 5: Management Team
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 5 JONATHAN A. MORGAN, CIM MANAGEMENT President & CEO • Over 20 years investment management experience TEAM • Principal, Executive Vice-President and COO of Morgan Meighen & Associates D. GREG ECKEL, CPA, CGA, CFA Lead Portfolio Manage
Slide 6: Performance
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 6 PERFORMANCE As at April 17, 2026 70% 60% 61.7% 50% 50.5% 45.5% 40% 30% 20% 22.0% 20.1% 18.7% 15.5% 16.1% 15.1% 10% 13.0% 10.7% 10.7% 11.5% 9.0% 9.4% 0% YTD - April 17, 2026 1 Year 3 Years 5 Years 10 Years CGI NAV Return CGI Share Pr
Slide 7: Distributions
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 7 DISTRIBUTIONS A Dozen years of Consecutive Dividend Growth 0.00 $1.20 Citing the desire to show a pattern of steady to rising total dividends and to 0.00 reduce the significance of the year-end special capital gains dividend, the Bo
Slide 8: Tax Efficiency
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 8 TAX EFFICIENCY Investment Corporation Status • CGI becomes virtually tax-free on a flow-through basis • Eliminates a layer of taxation: capital gains only taxed at shareholder level • Enables payment of capital gains dividends to sh
Slide 9: Leverage
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 9 LEVERAGE As at March 31, 2026 30.00% 25.20% 25.00% 20.00% 15.00% 11.90% 13.20% 11.70% 11.50% 11.30% 10.00% 8.50% 5.40% 4.65% 3.90% 3.60% 3.75% 3.78% 4.13% 5.00% 2.28% 2.08% 0.00% Series 1 Series 2 Series 3 Series 4 Bank Loan Bank Lo
Slide 10: Opportunity to Buy Quality Assets at a Discount
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 10 OPPORTUNITY TO BUY QUALITY ASSETS AT A DISCOUNT Price/NAV 0% A B C D E F Dec-96 Aug-97 Apr-98 Dec-98 Aug-99 Apr-00 Dec-00 Aug-01 Apr-02 Dec-02 Aug-03 Apr-04 Dec-04 Aug-05 Apr-06 Dec-06 Aug-07 Apr-08 Dec-08 Aug-09 Apr-10 Dec-10 Aug-
Slide 11: Discount Advantage for Investors
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 11 DISCOUNT ADVANTAGE FOR INVESTORS Open-Ended Fund Generic Closed-End Fund (40% Discount) NAV at Start Annual NAV at Start Annual Years Income Yield Income Yield of Year Income of Year Income 1 $100,000 $3,000 3.00% $166,667 $5,000 3
Slide 12: Aligned Interests with Investors
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 12 ALIGNED INTERESTS WITH INVESTORS
Slide 13: The Next Generation of Dividend Heroes
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 13 THE NEXT GENERATION OF DIVIDEND HEROES The next generation of dividend heroes are those that have increased their dividends for 10 or more years in a row but fewer than 20 Number of consecutive years Company AIC sector dividend inc
Slide 14: ISA Millionaires: The Investment Trusts That Would Have Made You £1,000,000
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 14 “ISA MILLIONAIRES: THE 50 INVESTMENT TRUSTS THAT WOULD HAVE MADE YOU £1,000,000” Rank Trust name AIC sector % share price total return, Total ISA investment value at 06/04/1999 to 31/01/2026 31/01/2026 1 Allianz Technology Trust Te
Slide 15: Performance – Growth of $100,000 – 50 Years
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 15 PERFORMANCE – GROWTH OF $100,000 – 50 YEARS As at December 31, 2025 $30,000,000 CGI Outperformed TSX by 73% $25,000,000 CGI Share Price over 50 years TSX Composite Index $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 1975 1980 1
Slide 16: Global Market Returns
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 16 GLOBAL MARKET RETURNS January 2000 – March 2026 Total Return, Original Currency 1400% TSX Composite DAX S&P500 1200% Nikkei FTSE 100 S&P/ASX 200 CGI NAV CGI Share Price 1000% 800% 600% 400% 200% 0% -200% Source: Bloomberg, Morgan M
Slide 17: Sector Allocation
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 17 SECTOR ALLOCATION As at March 31, 2026 e TSX CGI Financials 31.1% Industrials 20.7% Materials 19.3% Energy 18.8% Energy 18.4% Information Technology 17.3% Industrials 10.2% Materials 17.2% Information Technology 7.2% Financials 12.
Slide 18: Portfolio Insights
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 18 PORTFOLIO INSIGHTS Topical Themes Gold Uranium • fundamentals improving • potential nuclear industry renaissance • Central banks increasing convictions to buy and hold gold • projected overwhelming energy demands • heightened inter
Slide 19: Portfolio – Top Holdings
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 19 PORTFOLIO – TOP 10 HOLDINGS December 31, 2019 March 31, 2026 Shopify Inc. 4.9% Franco-Nevada Corporation 5.3% Air Canada 4.7% Celestica Inc. 4.5% Franco-Nevada Corporation 4.1% NVIDIA Corporation 4.3% Canadian Pacific Railway Limit
Slide 20: Portfolio Overview
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 20 PORTFOLIO OVERVIEW As at March 31, 2026 • Portfolio value - $1,895M • Unrealized gains - $1,169M • Number of holdings - 54 • Top 10 holdings - 35% of total portfolio • Cash 0.7% • Portfolio turnover – 11.5%
Slide 21: Growth of $10,000 Over 10 Years
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 21 GROWTH OF $10,000 OVER 10 YEARS March 2016 – March 2026 Total Return 50,000 41,398 45,000 CGI NAV 40,000 TSX XIC(iShares Core S&P/TSX ETF) 8,660 35,000 30,000 25,000 32,738 20,000 15,000 10,000 5,000 0 Mar 16 Jun 16 Sep 16 Dec 16 M
Slide 22: Highlights
CGI 2026 Annual General Meeting of Shareholders TSX: CGI LSE: CGI 22 HIGHLIGHTS • Steady Track Record of Outperformance • Attractive Yield and Consistent Distribution • Unique Structure – Investment Corp Status • Opportunity to Buy Quality Assets at a Discount • Long History of Success – Est. 1930 •
Slide 23: Appendix
TSX: CGI LSE: CGI CGI 2026 Annual General Meeting of Shareholders 23 APPENDIX Share Capital • 20,861,141 common shares • Free float – 10 million shares Approximate Shareholder • Canada – 35% Location (Free Float) • International – 65% Investment corporation • Eliminates a layer of taxation: capital
Slide 24: Canadian General Investments, Limited
TSX: CGI LSE: CGI CANADIAN GENERAL INVESTMENTS, LIMITED CGI 2026 Annual General Meeting of Shareholders April 23, 2026 All information as at March 31, 2026 unless stated otherwise
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