Australian Foundation Investment Company (AFI) Evening Shareholder Meeting summary

Opening remarks and agenda

• Information meetings held in Tasmania in May 2025, with presentations from AFIC, Djerriwarrh, Mirrabooka, and AMCIL.

Financial performance review

• AFIC delivered strong long-term returns, with $10k invested in 1995 growing to $167k by April 2025, outperforming the ASX 200 Accumulation Index.

• AFIC's 1, 3, 5, and 10-year returns to April 2025 were 8.1%, 7.4%, 8.6%, and 9.2% per annum, respectively, including franking.

• Djerriwarrh reported 1, 3, 5, and 10-year returns of 6.6%, 4.6%, 4.2%, and 6.6% per annum, including franking.

• Mirrabooka achieved 1, 3, 5, and 10-year returns of 14.6%, 11.5%, 11.0%, and 9.2% per annum, including franking.

• AMCIL posted 1, 2, 5, and 10-year returns of 11.0%, 6.2%, 8.6%, and 9.2% per annum, including franking.

Dividend announcements

• AFIC maintained a consistent fully franked dividend, supported by a strong franking reserve.

• Djerriwarrh delivered a fully franked yield of 7.4% based on share price as of 30 April 2025.

• Mirrabooka announced a 1-for-7 rights issue, with new shares entitled to a 6.5 cent dividend, subject to board approval in July 2025.