Slides
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Annual General Meeting October 2026
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Annual General Meeting – October 2026 2 Board Members Greg Richards Chairman and Independent Non-Executive Director Paul Dwyer Independent Non-Executive Director Antoinette Kimmitt AM Independent Non-Executive Director Jacinth Fairley Independent Non-Executive Director Tony Walls Independent Non-Executive Director Alison Gibson Managing Director
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Annual General Meeting – October 2026 3 Asking Questions Online Only Shareholders and Proxyholders are able to ask questions Asking questions Click on “Ask a Question” Select “General Business” or a specific resolution Type in your question and click “Submit” Comments on resolutions can also be submitted through “Ask a Question”
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Annual General Meeting – October 2026 4 Voting Online Click “Get a Voting Card” (top and bottom of platform) Enter your SRN/HIN or Proxy Number and Postcode Click “Submit Details and Vote” Fill out your voting card for each item of business Click “Submit Vote” Lodging your votes
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Annual General Meeting Presentation October 2026
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Annual General Meeting – October 2026 6 Disclaimer Mirrabooka Investments Limited and Australian Investment Company Services Limited (AFSL: 303209), its related entities and each of their respective directors, officers and agents (together the Disclosers) have prepared the information contained in these materials in good faith. However, no warranty (express or implied) is made as to the accuracy, completeness or reliability of any statements, estimates or opinions or other information contained in these materials (any of which may change without notice) and to the maximum extent permitted by law, the Disclosers disclaim all liability and responsibility (including, without limitation, any liability arising from fault or negligence on the part of any or all of the Disclosers) for any direct or indirect loss or damage which may be suffered by any recipient through relying on anything contained in or omitted from these materials. These materials have been prepared solely for the purpose of information and do not constitute, nor are they intended to constitute advice nor an offer or invitation to any person to subscribe for, buy or sell any shares or any other securities. ABN 31 085 290 928
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Annual General Meeting – October 2026 7 Agenda CEO Address Alison Gibson Results Summary for Financial Year 2026 Andrew Porter Portfolio Performance Kieran Kennedy Portfolio Activity & Update Stuart Low & Kieran Kennedy
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Annual General Meeting – October 2026 CEO Address 8
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Annual General Meeting – October 2026 Why did I rejoin the business? Purpose People Strong foundations Ability to make a difference 9
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Annual General Meeting – October 2026 Mirrabooka observations – outperformance since inception 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 Mirrabooka NTA Total Return, including franking S&P/ASX 200 Accumulation Index, including franking Combined Mid/Small Accumulation Index, including franking Returns assumes an investor can take full advantage of franking credits. Past performance is not indicative of future performance. 10
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Annual General Meeting – October 2026 Areas of focus Recent performance challenges Structural market changes Responding to market environment Communicating the value proposition 11
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Annual General Meeting – October 2026 Results Summary for Financial Year 2026 12
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Annual General Meeting – October 2026 13 Results summary for financial year 2026
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Annual General Meeting – October 2026 Annual dividends since listing 14 0 5 10 15 20 25 30 35 40 45 Cents per Share Ordinary Special Fully Franked Dividend Reserves per Share 14
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Annual General Meeting – October 2026 Shareholder returns $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 MIR Share price Cumulative dividends per share Cumulative franking per share 15
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Annual General Meeting – October 2026 Portfolio Performance 16
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Annual General Meeting – October 2026 Portfolio performance – 1 year to 31 August 2026 -14.0% 1.4% -10.7% 42.7% MIR Portfolio Combined Mid/Small Cap Accumulation Index Combined Mid/Small Industrials Combined Mid/Small Resources MIR portfolio return relative to the benchmark 17
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Annual General Meeting – October 2026 Short term returns – Rolling 1 year returns 18 Returns assumes an investor can take full advantage of franking credits. -80% -60% -40% -20% 0% 20% 40% 60% 80% 100% MIR Portfolio Combined Mid/Small Industrials Combined Mid/Small Resources
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Annual General Meeting – October 2026 A longer term perspective – Rolling 10 year returns (p.a.) 19 Returns assumes an investor can take full advantage of franking credits. -10% -5% 0% 5% 10% 15% 20% 25% MIR Portfolio Combined Mid/Small Industrials Combined Mid/Small Resources
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Annual General Meeting – October 2026 Factors driving FY26 underperformance 20
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Annual General Meeting – October 2026 Market cycle – valuation impact Valuation contraction in core holdings has offset continued strong earnings growth 15% 2% EPS growth, p.a. (FY22 yo FY26) 5 year share price performance, p.a. 21
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Annual General Meeting – October 2026 Market cycle – valuation impact 10 12 14 16 18 20 22 24 26 28 30 1 year forward PE ratio MIR Portfolio Return: 17.5% p.a. (10 years to August 2021) MIR Portfolio Return: -0.2% p.a. (5 years to August 2026) Source: Factset S&P/ASX Small Industrials 1 year forward PE ratio 22
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Annual General Meeting – October 2026 Portfolio Activity & Update 23
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Annual General Meeting – October 2026 24 Recent buying and opportunities Resilient market leaders Interest rate sensitive stocks Potential opportunities on the horizon Small cap growth stocks Market linked financials Quality cyclicals
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Annual General Meeting – October 2026 25 Recent takeover activity Total Portfolio Weight*: 4.6% *As at 31 August 2026
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Annual General Meeting – October 2026 26 Mirrabooka top 20 holdings - 31 August 2026 Note: Breville Group, ResMed, Cleanaway, James Hardie Industries and REA Group have been held previously and re-purchased by Mirrabooka. Company % of Portfolio Ownership Period 4.9% 4.1% 3.1% 3.1% 2.8% 2.5% 2.4% 2.7% 2.8% 2.4% 10 yrs Company % of Portfolio Ownership Period 2.4% 2.3% 1.9% 2.0% 1.8% 1.9% 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 21 yrs 2 yrs 11 yrs 4 yrs 1.8% 2.0% 2.3% 2.1% 9 yrs 16 yrs 7 yrs 8 yrs 15 yrs 3 yrs 16 yrs 2 yrs 2 yrs 1 year 1 year 7 yrs 14 yrs 9 yrs 9 yrs
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Annual General Meeting – October 2026 Share Price relative to Net Tangible Assets (NTA) 27 -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% Aug 21 Feb 22 Aug 22 Feb 23 Aug 23 Feb 24 Aug 24 Feb 25 Aug 25 Feb 26 Aug 26 27