Djerriwarrh Investments (DJW) investor relations material

Opening remarks and agenda

• Agenda covered the CEO address, FY2026 summary, portfolio update and outlook, financial statements, shareholder questions and formal resolutions.

Financial performance review

• FY2026 portfolio return was 2.8% including franking, versus 7.2% for the S&P/ASX 200 Accumulation Index; one-year returns to August were broadly around the benchmark.

• Net operating result was $41.4m versus $40.8m in FY2025; portfolio value was $855.0m at June 30, 2026, versus $893.5m a year earlier.

• Management expense ratio was 0.41%, down from 0.47% in FY2025; FY2026 option income was $12.5m.

• FY2026 portfolio dividend yield was 7.0% including franking, versus 4.1% for the S&P/ASX 200 Index; the enhanced yield was 2.9%.

• At August 31, 2026, portfolio value was $980m across 47 stocks, with 40% call option exposure, 1% put option exposure and NTA backing of $3.36 per share.

Board and executive committee updates

• Alison Gibson returned as CEO and Managing Director after 10 years with the group through 2021 and five years at HESTA, where she established and led its internal Australian equities team.

• Kathryn Fagg stood for re-election after being elected at the 2023 AGM; she cited broad experience across resources, manufacturing, services and financial services.

• The board expected to bring on one new director over the next 12 months; director independence is assessed individually, including contribution and experience.

• Board members included Chairman and independent non-executive director Graham Goldsmith AO, Managing Director Alison Gibson, and independent non-executive directors Catherine Brenner, Bruce Brook, Kathryn Fagg AC, Geoffrey Roberts and Rebecca McGrath AM.