Wam Leaders (WLE) investor relations material

Executive summary

• Portfolio delivered a 14.0% increase for FY2026, outperforming the S&P/ASX 200 Accumulation Index by 7.9%.

• Total shareholder return was 24.7% including franking credits for the year ended 30 June 2026; 21.0% excluding franking credits.

• Since inception in May 2016, annualized return is 12.1% per annum as at 30 June 2026, outperforming the benchmark by 2.9% per annum.

• Fully franked full-year dividend increased to AUD 0.096 (9.6 cents) per share.

• Share purchase plan (SPP) allows eligible shareholders to invest up to AUD 30,000 at a discount to market price.

Financial highlights

• Fully franked dividend yield for FY2026 is 7.0%, grossed-up yield is 10.0%.

• 96.5 cents per share in fully franked dividends paid since inception, including franking credits.

• Share price moved from a 7.8% discount to NTA to a 0.2% premium over the year.

• Profit reserve supports approximately 2.5 years of dividends; franking credit reserve covers 1.3 years.

• Portfolio held 4.7% in cash at 30 June 2026.

Outlook and guidance

• Expecting a regime change in markets, with volatility rising and leverage coming out of the system.

• Anticipate RBA to end its hiking cycle, with potential rate cuts in FY2027, providing a tailwind for equities.

• Portfolio positioned for value over momentum, expecting value to outperform in the next six months.

• Portfolio remains focused on high-quality companies trading at attractive valuations.

• Management expects market volatility to create opportunities for active managers.