L1 Global Long Short Fund (GLS) EGM 2025 summary

Opening remarks and agenda

• Chair Margaret Towers opened the hybrid meeting, acknowledged traditional custodians, confirmed a quorum, and explained voting procedures for all attendees.

• The meeting was convened to consider the appointment of six new directors, with nominees from L1 Capital and Wilson Asset Management.

• Notice of meeting was taken as read; all resolutions are ordinary and require 50% approval by poll.

Specific resolutions to be voted on

• Six resolutions for the appointment of new directors: three L1 Capital nominees (Rachel Grimes, David Gray, Douglas Farrell) and three WAM nominees (Geoff Wilson, Richard Caldwell, Julian Martin).

• Each nominee presented their credentials and answered questions regarding independence, strategy, and shareholder interests.

• Resolutions 1, 2, and 3 (L1 Capital nominees) passed with approximately 67% support each.

• Resolutions 4, 5, and 6 (Wilson Asset Management nominees) were not passed, each receiving about 33% support.

Board and executive committee updates

• Board currently consists of three independent non-executive directors and one non-independent executive director.

• Chair and another director intend to resign post-meeting, with timing dependent on board formalities.