Clime Capital Limited · ASX:CAM
Clime Capital — Investor Presentation (October 2026)
17 slides from Clime Capital's investor presentation, Oct 27, 2026
Slide 1: ASX Company Announcement: Shareholder and Noteholder Briefing
Clime Capital Limited 27 October 2026 For personal use only Company Announcements Australian Securities Exchange CLIME CAPITAL LIMITED (ASX: CAM) Dear Shareholders, The Investment Manager of Clime Capital Limited (ASX: CAM) is delivering a shareholder and noteholder briefing today. A copy of the pre
Slide 2: Clime Capital Limited Shareholder and noteholder briefing
personal use only ASX: CAM · CAMG Clime Capital Limited Shareholder and noteholder briefing Monday 27 October 2026 · Michael Baragwanath, Managing Director and CEO, Clime Investment Management
Slide 3: Disclaimer
Disclaimer personal use only The information contained in this presentation is published by Clime Investment Management ABN 37 067 185 899 (ASX:CIW) as the Investment Manager for Clime Capital Limited (CAM.ASX/CAMG.ASX) The information in this presentation is of a general nature only. The author has
Slide 4: Macro Background
CLIME MACRO VIEW personal use only Macro Background • World Inflation elevated held by oil prices – Iran and Ukraine wars • International Trade situation not settled – China v US • US – China “racing” in AI leadership – where is the value? • Bond yields rising – will check equity markets • US mid te
Slide 5: CAM FY Net profit $10.294 Million
CAM FY 26 personal use only Net profit - $10.294 Million 4
Slide 6: The last 2 months: 11.1% against the market's 1.4%
THE UNDERLYING PORTFOLIO · TO 30 SEPTEMBER 2026 personal use only The last 12 months: 11.1% against the market's 1.4% Return 1 mth 3 mths 6 mths 9 mths CYTD FYTD 1 yr 2 yrs p.a. CAM, after all fees and tax −1.0% 0.9% 6.3% 8.8% 8.8% 0.9% 11.1% 7.0% CAM, before fees −1.0% 1.2% 7.0% 10.3% 10.3% 1.2% 12
Slide 7: Industry wide revaluation of private assets June 30
BEFORE WE START · WHAT HAPPENED IN OCTOBER personal use only Industry wide revaluation of private assets June 30 1 2 3 New ASIC guidance Everyone, all at once Under pressure ASIC's June 2026 guidance raised the Nearly every manager of unlisted or Auditors asked for far more proof across evidence nee
Slide 8: The issue was up-to-date valuations
03 · THE AUDIT QUALIFICATION personal use only The issue was up-to-date valuations — those received so far show no issues BEFORE NOW · ASIC, JUNE 2026 WHY THE DELAY Auditors accepted the external We must form our own view, hold The rules target portfolios heavy in manager's confirmation of value. Mo
Slide 9: Stock selection was good - ten best holdings added 13.4 points
BEST PERFORMERS · 12 MONTHS TO 30 SEPTEMBER 2026 personal use only Stock selection was good - ten best holdings added 13.4 points FY26 WHAT HURT Telix −25% Origin Energy −13% Jumbo Interactive −28% Super Retail −20% NIB Holdings −7% Together these cost about 2 points. Source: Clime portfolio contrib
Slide 10: Refocus on Intrinsic Value + Active turnover strategy
BEST PERFORMERS · THREE MONTHS TO 30 SEPTEMBER 2026 personal use only Refocus on Intrinsic Value + Active turnover strategy Next best, three months Return CSL +64% Newmont Treasury Wine Estates +25% +23% in three months — the quarter's biggest contributor, adding 1.4 points to CAM's Westgold Resourc
Slide 11: On every $100,000 invested, about $9,400 a year
01 · ABOUT $17 MILLION RETURNED IN FY26 — WHAT IT MEANT FOR YOU personal use only On every $100,000 invested, about $9,400 a year SHAREHOLDER · HELD THROUGH IF YOU ADD TO YOUR HOLDING CAMG NOTEHOLDER $6,500 FY26 TODAY $9,370 $10,660 6.5% a year, paid monthly 9.4% a year, incl. franking 10.7% a year,
Slide 12: Since March, $4.7m of buy-backs has added about $1,100 to every $100,000 holding
02 · THE BUY-BACK personal use only Since March, $4.7m of buy-backs has added about $1,100 to every $100,000 holding $4.7m 4.7% +0.7c spent buying back 6.7m shares since of all shares retired, at an average 67.2c more value behind every remaining March 2026 against 81c of value share — about $1,100
Slide 13: At 61.5c, each share buys $1.32 of investments
02 · THE VALUE ON OFFER TODAY personal use only At 61.5c, each share buys 81c of investments $1.32 of investments for every $1 paid at today's price 10.8% yearly income including franking, at 61.5c Source: Bell Potter LIC Weekly Report, 19 Oct 2026; CAM NTA reports. General information only, not a r
Slide 14: $65.7m of unlisted investments — we control 69% of it
03 · UNLISTED INVESTMENTS · HOLDINGS AT 20 OCTOBER 2026 personal use only $65.7m of unlisted investments — we control 69% of it $45.6m · Clime-controlled $11.1m $9m Clime-controlled transactions · 29.6% of total portfolio Diversified across Melbourne and Sydney industrial and hospitality assets, plu
Slide 15: The dates to watch
WHAT HAPPENS NEXT personal use only The dates to watch When What Early November October month-end NTA, including the Melbourne industrial settlement uplift 9 November Special dividend of 0.5c goes ex early November November Manager's valuation review and independent private debt review 27 November S
Slide 16: Macro Outlook for 27/28
MARKET SUMMARY personal use only Macro Outlook for 27/28 • US growth supported by AI and data centre capital investment. • US budget deficit challenged by bond yields >5% • China growth slowing leading to a renewed focus on export markets • Europe socio/political issues but growth supported by NATO
Slide 17: Questions
personal use only Questions [email protected] Youtube.com/@climeinvestment This presentation contains general information only and does not take into account your objectives, financial situation or needs. NTA figures are unaudited estimates. Past performance is not a reliable indicator of future per