Plato Income Maximiser Ltd. · ASX:PL8
Plato Income Maximiser — Plato Investment Management — Investor Presentation (September 2026)
39 slides from Plato Income Maximiser's investor presentation, September 2026
Slide 1: Plato Global Alpha Fund September 2026
PLATO GLOBAL ALPHA FUND SEPTEMBER 2026 DR. DAVID ALLEN LEAD PORTFOLIO MANAGER, CO-HEAD OF RESEARCH MR. GEORGE PLATT CO-HEAD OF RESEARCH 1
Slide 2: Plato Investment Management Highlights
Plato Investment Management HIGHLIGHTS • Founded in 2006, $30.3bn. AUM* • Majority employee owned • 17-person strong • Backed by Pinnacle investment team $ 229.4 bn. AUM** • 20 years average • 100+ staff across experience support functions *31/8/2026, **30/6/2026 at 100% of affiliate assets. 2
Slide 3: Plato Global Alpha Fund
Plato Global Alpha Fund • Global equities core solution • 150% long / 50% short / 100% market exposure • 23.36% p.a. since inception, outperformed MSCI World by 11.60% p.a. • All-weather approach, downside capture only 66% *Source: Citigroup, August 31, 2026, all returns are net of A class fees. Inc
Slide 4: Significantly outperforming market and peers
Significantly outperforming market and peers Returns (%) Source: Bloomberg, August 31, 2026. Net of A class fees since inception. Past performance is not a reliable indicator of future performance. Morningstar World Large Cap universe 4
Slide 5: Lead Portfolio Manager
Lead Portfolio Manager Dr. David Allen Lead Portfolio Manager Co-Head of Research Head of Long/Short Strategies • Portfolio Manager, JP Morgan Asset Management, London, 2002-17 • Managing Director, Head of Research, overseeing €35bn • PhD in Quantitative Finance, Cambridge University • European hedg
Slide 6: Cumulative excess returns vs. benchmark
JP Morgan Europe Equity Plus (130/30) 101 100% JP Morgan Europe Equity Plus vs. Active returns, JP Morgan Europe Equity Plus Fund & MSCI Europe, 2007-16 40 Largest European Equity Funds* 80% Cumulative excess retunrs vs. benchmark 101 4% annualised excess return JPM Europe Equity Plus 60% 40% 100 20
Slide 7: Plato Long/Short expertise
Plato Long/Short expertise Industry Team member Role Background experience (years) Co-head of Research Head of Macquarie Global Quantitative Hedge Fund Group, 2011-2019, $3bn George Platt 30 Global Long/Short specialist Macquarie Global Head of Quantitative Research (sell-side), 1997-2011 Founder of
Slide 8: The best of Value, Growth, and Quality
The best of Value, Growth, and Quality VALUE, BANKS GROWTH, SEMICONDUCTORS QUALITY, PHARMACEUTICALS • 8x price-earnings (FY25), • Ultimate pick-and-shovels • Radiogland therapy reduces 0.89x price book play prostate cancer mortality by • 30% higher net interest • Free cash flow growing at 28% margin
Slide 9: Performance not tied to any one environment
Performance not tied to any one environment TARGETING ALL-WEATHER ALPHA Plato Global Alpha excess monthly returns (%) 3.5 Value / Bear market Growth / Bull market 3.0 2.5 2.0 net return (%) 1.5 1.0 0.5 0.0 -0.5 -1.0 -1.5 09/21 12/21 03/22 06/22 09/22 12/22 03/23 06/23 09/23 12/23 03/24 06/24 09/24 1
Slide 10: Momentum reversal of historic proportions
Momentum reversal of historic proportions Returns (%) 800 Cumulative Performance of Goldman Sachs US Momentum Factor 700 -25% 600 500 400 300 200 100 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Source: Bloomberg, July 31, 2026. “Most severe momentum drawdown since 20
Slide 11: 150+ Red Flags
150+ Red Flags AVOID LANDMINES, IDENTIFY DISTRESSED COMPANIES 13 Red Flags Very low institutional ownership, extreme growth Annual return Performance of Red Flags expectations, greater 80% controlling shareholder, 15 massive pre-ipo holder overhang, cashflow margin falling year on year, executive mi
Slide 12: PRISM (Plato Risk Information System)
PRISM (Plato Risk Information System) STOCK SELECTION FRAMEWORK Source: PRISM, May 4, 2026 “Disciplined stock selection framework” 12
Slide 13: PRISM: Geo-political, macro, thematic stress tests
PRISM (Plato Risk Information System) GEO-POLITICAL, MACRO, THEMATIC STRESS TESTS Source: PRISM, May 4, 2026 “110 daily stress tests, minimise drawdowns” 13
Slide 14: Performance
Performance PERFORMANCE SINCE INCEPTION Performance, net of fees Plato Global Alpha MSCI World Excess 1 month 1.01 0.53 0.48 3 month 3.70 2.77 0.93 12 month 18.59 9.93 8.65 2 year p.a. 28.86 14.82 14.04 3 year p.a. 30.44 16.12 14.31 Since inception p.a. 23.36 11.77 11.60 Source: Plato Investment Man
Slide 15: Performance: annualised and capture
Performance PERFORMANCE SINCE INCEPTION Plato Global Alpha annualised performance Upside and downside capture 25% 1.5 23.36% 1.4 1.3 128% 20% 1.2 15% 1.1 11.77% 11.60% 1.0 10% 0.9 0.8 5% 0.7 66% 3.31% 0.6 0% 0.5 Plato Global Alpha MSCI World Excess Tracking error Upside capture Downside capture Sour
Slide 16: Performance: information and Sharpe ratios
Performance PERFORMANCE SINCE INCEPTION Information ratio and Beta to MSCI World Sharpe ratios 4.0 2.5 3.50 3.5 1.95 2.0 3.0 2.5 1.5 2.0 1.5 1.0 0.77 1.01 1.0 0.5 0.33 0.5 0.0 0.0 Information ratio Beta Plato Global Alpha MSCI World ASX 300 Source: Plato Investment Management. MSCI World refers to t
Slide 17: PRISM attribution by sector and country
PRISM (Plato Risk Information System) ATTRIBUTION BY SECTOR AND COUNTRY SINCE INCEPTION Source: PRISM, June 30, 2026. Past performance is not a reliable indicator of future performance. “Positive stock selection in 10 of 11 sectors and 23 of 23 countries” 17
Slide 18: Long and short alpha contribution
Long and short alpha contribution Returns (%) 45 Long and Short alpha contributions (%) since inception 40 Long contribution (%) Short contribution (%) 35 30 25 20 15 10 5 0 -5 -10 09/21 03/22 09/22 03/23 09/23 03/24 09/24 03/25 09/25 03/26 Source: Bloomberg, August 31, 2026. Factset. Past performan
Slide 19: How does Plato Global Alpha blend with other funds?
How does Plato Global Alpha blend with other funds? Portfolio blending: Plato Global Alpha Fund Return and Risk combined with key peers 14 100% Plato Global Alpha Fund PM Captial Global Opportunities Fund GQG Partners Global Equity Fund 12 Arrowstreet Global Equity Fund 10 Higher excess return (%) 8
Slide 20: Ratings and platform availability
Ratings and platform availability 20
Slide 21: Access Plato strategies on the ASX
Access Plato strategies on the ASX Plato Global Alpha Complex ETF (ASX:PGA1) Plato Global Plato Income Plato Global Shares Alpha Complex ETF Maximiser Income ETF ASX Ticker PGA1 PL8 PGI2 Strategy inception September 2021 September 2011 March 2016 ASX listing date 25 November 2024 5 May 2017 19 May 2
Slide 22: Plato Australian Alpha
Plato Australian Alpha • Core Australian equities solution • 5.17% excess return p.a., 1.67 information ratio since inception • 130-140% long / 130-40% short / 100% market exposure • Identical process to Plato Global Alpha - outperformed MSCI World by 11.60% p.a. since inception (1/9/21) • All-weath
Slide 23: Key takeaways
Key takeaways • Long track record of delivering high alpha • 100+ Red Flags to avoid landmines and identify great shorts • Focus on all-weather alpha “Any questions?” 23
Slide 24: Contact a member of the Pinnacle distribution team
CONTACT A MEMBER OF THE PINNACLE DISTRIBUTION TEAM Kyle Macintyre Mark Cormack Darcy Graham Head of Wholesale and Retail Distribution Director | Retail Distribution (National) Associate Director | Research and Strategic Accounts +61 413 547 771 +61 417 412 524 (VIC) kyle.macintyre@pinnacleinvestment
Slide 25: Appendix
APPENDIX Plato INVESTMENT MANAGEMENT
Slide 26: Highly experienced investment team
Highly experienced investment team Industry Plato Team member and qualifications Role and responsibilities Previous firms experience since (years) (years) Dr Don Hamson Managing Director / CIO • SSgA PhD Finance • Oversight of investment process, portfolios and research • Westpac/BT 34 19 B.Com (Hon
Slide 27: Highly experienced investment team
Highly experienced investment team Industry Plato Team member and qualifications Role and responsibilities Previous firms experience since (years) (years) Dr David Allen Co-Head of Research & Head of Long/Short Strategies • JP Morgan Asset PhD Finance (Cambridge) • Alpha model and portfolio construc
Slide 28: Red Flags breakdown
150 Red Flags BREAKDOWN OF RED FLAGS Number of red flags by category 3.2%, 5.9%, Remuneration, 0.7%, Social 22 Red Flags Environmental, Large growth inventory days, Benford’s law violation, high audit fees to sales, negative cfo elevated bankruptcy probability, golden 7.5%, Other, parachutes, extrem
Slide 29: Plato Global Alpha Fund strategy overview
Plato Global Alpha Fund Strategy overview Long-only and Plato Global Alpha strategy • The traditional way to achieve high alpha is through 200% concentrated portfolios, which can result in severe drawdowns 50% short provides capital • Plato Global Alpha instead uses a 150/50 strategy 150% for additi
Slide 30: Plato Global Alpha Fund - Investment Workflow
Plato Global Alpha Fund - Investment Workflow Investment Portfolio PRISM Alpha Engine Plato Global Alpha Universe Construction Risk Analysis Stress Tests Maximise alpha, control 10,000 securities risk and trading costs Scenario +4-5% alpha target Holistic Quality Analysis Intrinsic Value Global 4-5%
Slide 31: Dynamic gross exposure management
Dynamic gross exposure management 200 60 Plato Global Alpha: Long and short exposure (%) over time Long Short VIX index 150 50 100 40 exposure (%) VIX index 50 30 0 20 -50 10 Ukraine invasion Silicon Valley Bank crisis Liberation Day -100 Source: Factset, April 30, 2025. 0 09/21 03/22 09/22 03/23 09
Slide 32: PRISM: Position evolution
PRISM (Plato Risk Information System) POSITION EVOLUTION Source: PRISM, May 4, 2026 “Forecast stock return drives positioning” 32
Slide 33: Two approaches to delivering high alpha
Two approaches to delivering high alpha TRADITIONAL CONCENTRATED APPROACH VS. PLATO GLOBAL ALPHA Traditional Plato Concentrated Global Fundamental Alpha Active share High ( >70%) High (98%) Risk management Qualitative and ad hoc Systematic (PRISM) Thematic risk High Low Country risk High Low Industr
Slide 34: Performance contributions over last 12 months
Performance contributions over last 12 months 5 highest and lowest country contributors 5 highest and lowest sector contributors Average Weight Contrib. Return Average Weight Contrib. Return 5 Highest 5 Highest United States 67.27 8.71 Information Technology 28.29 6.79 United Kingdom 4.39 2.17 Finan
Slide 35: Plato Global Alpha Fund - Industry exposures
Plato Global Alpha Fund - Industry exposures WHERE IS THE PORTFOLIO INVESTED? Active exposure by GICS Industry (%) Aerospace and Defense Household and Personal Products Airlines Insurance Aluminium and Diversified Metals Integrated Oil and Gas Automobiles and Components Internet Software and Service
Slide 36: Plato Global Alpha Fund - Country exposures
Plato Global Alpha Fund - Country exposures WHERE IS THE PORTFOLIO INVESTED? Active exposure by country (%) Active exposure by region (%) Austria Belgium Denmark Finland Europe France Germany Ireland Israel Italy North America Netherlands Norway Portugal Spain Sweden Switzerland Asia ex-Japan United
Slide 37: PGA1 (ETF) vs Plato Global Alpha (unit trust)
PGA1 (ETF) vs Plato Global Alpha (unit trust) NO PREMIUMS/DISCOUNTS Source: Bloomberg, July 31, 2026 “ETF and unit trust track very closely” 37
Slide 38: Disclaimer
Disclaimer Note: Past performance is not a reliable indicator of future before deciding whether to acquire, or continue to hold units in, performance. the Fund. Link to the Product Disclosure Statement The information contained in this presentation is for information Link to the Target Market Determ
Slide 39: Disclaimer
Disclaimer The Zenith Investment Partners (‘Zenith’) (ABN 27 103 132 672, The Lonsec rating (Plato Global Alpha Fund assigned May 2024) AFSL 226872) rating (assigned November 2024) referred to in this presented in this document is published by Lonsec Research Pty piece is limited to “general advice”
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