Mirrabooka Investments Ltd · ASX:MIR
Mirrabooka Investments — H1 FY2026 Earnings Presentation
19 slides from Mirrabooka Investments's earnings presentation, Feb 3, 2026
Slide 1: Half Yearly Results Webcast Presentation
3 February 2026 The Manager ASX Market Announcements Australian Securities Exchange Exchange Centre Level 4 20 Bridge Street Sydney NSW 2000 For personal use only Electronic Lodgement Mirrabooka Investments Limited Half Yearly Results Webcast Presentation Please find attached the presentation to be
Slide 2: Half-Year Results Financial Year 2025/26
For personal use only Half-Year Results Financial Year 2025/26
Slide 3: Disclaimer
Disclaimer For personal use only Mirrabooka Investments Limited and Australian Investment Company Services Limited (AFSL: 303209), its related entities and each of their respective directors, officers and agents (together the Disclosers) have prepared the information contained in these materials in
Slide 4: Our Purpose and Approach
For personal use only Our Purpose and Approach
Slide 5: Our Investment Approach
Our Investment Approach For personal use only 4
Slide 6: Mirrabooka's Record Sees it Well Supported in the Market
Mirrabooka’s Record Sees it Well Supported in the Market – Share Price Premium/Discount to NTA For personal use only 5
Slide 7: Half Year in Summary
For personal use only Half Year in Summary
Slide 8: Half-Year Result Summary
Half-Year Result Summary For personal use only 7
Slide 9: Portfolio Performance
For personal use only Portfolio Performance
Slide 10: Challenging 1-year portfolio performance vs our benchmark
At our October 2025 AGM we discussed our challenging 1-year portfolio performance vs our benchmark For personal use only What has happened since? Relative performance headwinds have intensified • now the most significant 1-year underperformance recorded in our 25+ year history • largely driven by si
Slide 11: Mirrabooka Portfolio Performance – Per Annum Returns to December 2025
Mirrabooka Portfolio Performance – Per Annum Returns to 31 December 2025* For personal use only * Assumes an investor can take full advantage of the franking credits. Mirrabooka's portfolio return is also calculate after management fees, income tax and capital gains tax on realised sales of investme
Slide 12: Why are we structurally underweight resources stocks?
Why are we structurally underweight resources stocks? Small Resources Accumulation Index Mid Cap 50 Resources Accumulation Index For personal use only Resources stock observations: 1. Our benchmark lacks bottom quartile cash cost resources business – down cycles hit higher cost resources stocks hard
Slide 13: Short term returns weighed down by lagging share prices in key holdings
Short term returns have also been weighed down by lagging share prices in key holdings For personal use only Stock 1 yr return Reason for share price weakness Our long term confidence is due to: Earnings lull with data centre expansion -25% Strategic assets in a strongly growing industry under const
Slide 14: Our Confidence in the Long-Term Portfolio Outlook Remains Strong
Our Confidence in the Long-Term Portfolio Outlook Remains Strong For personal use only Despite our recent underperformance, we retain long term confidence in the portfolio, as: We’ve seen similar cycles before: • our relative performance rebounded; and • buoyant resource stocks that we didn’t own pr
Slide 15: The Mirrabooka Portfolio and its Outlook
For personal use only The Mirrabooka Portfolio and its Outlook
Slide 16: Mirrabooka Top Holdings – December 2025
Mirrabooka Top 20 Holdings – 31 December 2025 % of % of For personal use only Company Portfolio Ownership Period Company Portfolio Ownership Period 1 7.3% 9 yrs 11* 2.0% 6.5 yrs 2 4.1% 15 yrs 12 1.9% 2 yrs 3 3.9% 20 yrs 13* 1.9% 3.5 yrs 4* 3.0% 14.5 yrs 14 1.9% 1.5 yrs 5 2.7% 10.5 yrs 15 1.8% 3.5 yr
Slide 17: New Stocks in the Portfolio
New Stocks in the Portfolio For personal use only 16
Slide 18: Outlook
Outlook For personal use only While market conditions have recently been particularly challenging for us, our belief remains strong that: • Key holdings that have recently weighed on performance are high quality businesses that will aid our performance over the medium to long term. • Commodity price
Slide 19: For personal use only
For personal use only
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