Spheria Emerging Cos. Ltd. · ASX:SEC
Spheria Emerging Cos — H1 FY2026 Earnings Presentation
20 slides from Spheria Emerging Cos's earnings presentation, Mar 5, 2026
Slide 1: ASX cover letter: shareholder webinar and half-year results presentation
Spheria Emerging Companies Limited (Company) Level 25 Australia Square Tower 264 George Street Sydney NSW 2000 Telephone: 1300 010 311 Email: [email protected] ACN 621 402 588 5 March 2026 For personal use only By Electronic Lodgement Market Announcements Office ASX Limited 39 Martin Pla
Slide 2: 1HFY26 Results & Portfolio Update
For personal use only Spheria Emerging Companies Limited (ASX:SEC) 1HFY26 Results & Portfolio Update
Slide 3: Disclaimer
Disclaimer For personal use only Note: Past performance is not a reliable indicator of future Subject to any liability which cannot be excluded under the information is not intended as a securities recommendation or performance. relevant laws, SEC and Spheria disclaim all liability to any person s
Slide 4: Agenda
3 Agenda For personal use only 1. SEC Company update 2. Portfolio update 3. Questions
Slide 5: SEC
For personal use only SEC Company Update
Slide 6: 1HFY26 Highlights
5 1HFY26 Highlights Yield (including 1HFY26 Profit Company Performance1 Dividends2 Yield For personal use only franking) $12.6m 11.8% 7.6c 5.2%3 7.4%4 • 1HFY26 net profit after tax of $12.6m • Company Performance of 11.8%, -5.6% compared to benchmark5 of 17.4% (+2.2% p.a. above benchmark since incep
Slide 7: NTA breakdown for 1HFY26
6 NTA breakdown for 1HFY26 Portfolio performance less dividends paid leads to an increase in NTA per share For personal use only • Pre-tax NTA increased by $0.205 from $2.411 at 30 June 2025 to $2.616 at 31 December 2025 • Portfolio performance and dividends paid drive NTA changes. Source: Spheria E
Slide 8: Performance History
7 Performance History For personal use only SEC Company performance SEC Limited Net Performance as at 31st Jan 2026 Period 1 month 3 month 1 year 3 year (pa) 5 year (pa) Since Inception (pa) Inception Date SEC Ltd. 0.2% -2.9% 12.0% 11.1% 8.6% 8.4% 30/11/2017 S&P/ASX Small Ordinaries Accumulation Ind
Slide 9: Dividends
8 Dividends Moved to monthly dividends – Feb & March 2026 dividends of 1.3c per share are in addition to the below. For personal use only SEC Dividend History 6 5 5 Increase to 1.25% Increase to 1.5% Introduced new 4% p.a. post-tax NTA post-tax NTA dividend target, paid quarterly 4 4 4 3.8 3.8 3.5 3
Slide 10: SEC has traded up to an NTA premium
9 SEC has traded up to an NTA premium Higher and more regular dividends and Conditional Proposal drive SEC from NTA discount to NTA premium Share Price vs NTA For personal use only 3.0 10% 2.8 5% 2.6 0% 2.4 -5% Premium/discount Price/value (NTA) 2.2 2.0 -10% 1.8 -15% 1.6 -20% 1.4 -25% 1.2 1.0 -30% N
Slide 11: SEC Portfolio Update
For personal use only SEC Portfolio Update
Slide 12: Spheria Asset Management Investment Process
11 Spheria Asset Management Investment Process How our investment process is different For personal use only 1. Focus on quality businesses with risk control overlay • Sustainable free cash flow generation through the cycle 2. Fundamental investment focus • Free cash flow valuation model • Lowly gea
Slide 13: SEC Portfolio Performance
12 SEC Portfolio Performance Strong relative performance since inception SEC Portfolio - Net Performance* since Inception 120% For personal use only Spheria Index 100% Relative Performance 80% 60% 40% 20% 0% -20% -40% Mar-20 Aug-19 Nov-17 Jan-26 Apr-24 Jun-18 Oct-20 May-21 Sep-23 Jul-22 Jan-19 Feb-2
Slide 14: Smalls Resources Steal The Spotlight
13 Smalls Resources Steal The Spotlight Small Resources have had a stellar year Total Return % Small Ords vs Industrials vs Resources For personal use only 100% ASX Small Ordinaries Index 80% ASX Small Resources Index 80.5% ASX Small Industrials Index 60% ASX Large Resources Index 41.3% 40% 23.4% 20
Slide 15: Stock Attribution – Top and Bottom months to January 2026
14 Stock Attribution – Top 10 and Bottom 10 12 months to January 2026 For personal use only Stock Attribution – Top 10 & Bottom 10 Sector Attribution 2.0% 4% 1.5% 2% 1.0% 0% 0.5% -2% 0.0% -4% -0.5% -6% -1.0% -8% -1.5% -10% -2.0% -12% *Following Corporate Travel Management (CTD AU) suspension from qu
Slide 16: Top Holdings & Sector Exposure
15 Top 10 Holdings & Sector Exposure For personal use only Spheria Emerging Companies Limited Spheria Emerging Companies Limited 35% Ticker Company Name % Portfolio 30% SNL Supply Network 5.5 25% SGM Sims Limited 5.0 20% IRE IRESS Limited 4.9 15% PPT Perpetual Limited 4.2 10% FBU Fletcher Building 4
Slide 17: Chrysos Corporation (ASX:C79) A Golden Opportunity
16 Chrysos Corporation (ASX:C79) A Golden Opportunity For personal use only • C79 is a mining technology company, spun out of the CSIRO which has developed a disruptive alternative to testing gold • PhotonAssay is a more accurate, faster and safer method compared established fire assay method • Phot
Slide 18: Very attractive entry point
17 Very attractive entry point Global Smalls remain cheap in a historical context vs large caps PE Difference between MSCI World Small vs MSCI World For personal use only 60% 50% 40% +2 s.d. 30% +1 s.d. 20% 10% average 0% -1 s.d. -10% -2 s.d. -20% -30% Jan-16 Jan-18 Jan-20 Jan-26 Jan-21 Jan-22 Jan-2
Slide 19: Key Themes
18 Key Themes For personal use only • Small caps have seen an aggressive rotation into resources which the company has been underweight. • Within the resources space, the Gold sector has been the standout due to strong Gold price performance. • Resource exposure gained through some direct holdings a
Slide 20: Questions
For personal use only Questions
Spheria Emerging Companies — H1 FY2026 Earnings Presentation on 6ix