Djerriwarrh Investments Limited · ASX:DJW
Djerriwarrh Investments — H1 FY2026 Earnings Presentation
22 slides from Djerriwarrh Investments's earnings presentation, Jan 19, 2026
Slide 1: Half Yearly Results Webcast Presentation ASX Announcement
19 January 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 Djerriwarrh Investments Limited (“Djerriwarrh”) Half Yearly Results Webcast Presentation Please find attached the up
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 Djerriwarrh Investments Limited, its related entity (Australian Investment Company Services Limited, AFSL: 303209) and each of their respective directors, officers and agents (together the Disclosers) have prepared the information contained in these materials in good
Slide 4: Agenda
Agenda For personal use only Overview and Objectives Brett McNeill Half-Year in Summary Andrew Porter Results in Detail Brett McNeill Portfolio Update Olga Kosciuczyk and Brett McNeill Outlook Brett McNeill Half-Year Results – January 2026 3
Slide 5: Overview and Objectives
For personal use only Overview and Objectives Half-Year Results – January 2026
Slide 6: Overview
Overview For personal use only Djerriwarrh is one of the largest income focused Listed Investment Companies (LIC). Djerriwarrh was established in 1989 and listed on the ASX in 1995. Shareholders get the benefit of full transparency associated with being an LIC, as well as the high governance standar
Slide 7: Investment Objectives
Investment Objectives For personal use only Djerriwarrh primarily seeks to provide an enhanced level of Djerriwarrh also aims to provide shareholders with attractive fully franked income, that is higher than what is available from investment returns through access to fully franked dividends the S&P/
Slide 8: Share Price Relative to Net Tangible Assets (NTA)
Share Price Relative to Net Tangible Assets (NTA) For personal use only 31 December 2025 NTA: $3.35 Share price: $3.12 Half-Year Results – January 2026 7
Slide 9: Financial Half-Year in Summary
For personal use only Financial Half-Year in Summary Half-Year Results – January 2026
Slide 10: Financial Half-Year in Summary
Financial Half-Year in Summary For personal use only * Assumes an investor can take full advantage of the franking credits. Half-Year Results – January 2026 9
Slide 11: Results in Detail
For personal use only Results in Detail Half-Year Results – January 2026
Slide 12: Net Operating Profit
Net Operating Profit For personal use only 1H25 ($m) 1H26 ($m) Change Dividend and Distribution income $17.9 $16.6 -8% Option income $7.5 $7.5 flat Operating income (including other income) $26.3 $24.8 -6% Finance costs $0.8 $0.9 +10% Administration costs $2.1 $1.8 -16% Operating result before tax e
Slide 13: Dividend Income
Dividend Income For personal use only 1H25 ($m) 1H26 ($m) Change Dividend and Distribution Income $17.9 $16.6 -8% Djerriwarrh’s Dividend and Distribution Income Djerriwarrh’s Dividend and Distribution Income Received ($m) Received – Yield vs Market Dividend Yield Source: ASX Dividend Yield from Fact
Slide 14: Option Income
Option Income For personal use only 1H25 ($m) 1H26 ($m) Change Option Income $7.5 $7.5 flat Djerriwarrh’s Option Income Received ($m) Djerriwarrh’s Option Income Yield Half-Year Results – January 2026 13
Slide 15: Portfolio Update
For personal use only Portfolio Update Half-Year Results – January 2026
Slide 16: Key Drivers of Our Portfolio Underperformance
Key Drivers of Our Portfolio Underperformance In 2025 our portfolio underperformed the S&P/ASX200 Index by 6 per cent. The key contributors to this For personal use only underperformance, along with their 12-month total return, include: Large Companies Owned: Small Companies Owned: Gold Companies No
Slide 17: Recent Option Activity
Recent Option Activity Options are written against selected portfolio holdings in order to generate additional income. The options strategy For personal use only is a key component of Djerriwarrh’s Enhanced Yield objective. S&P/ASX 200 Price Index Source: Factset Half-Year Results – January 2026 16
Slide 18: Recent Portfolio Activity
Recent Portfolio Activity For personal use only Option Exercises Additions to Existing Holdings Sales New Purchases * Based on major transactions for the 6 months to 31 December 2025. Half-Year Results – January 2026 17
Slide 19: Portfolio Summary
Portfolio Summary Constructing a diversified portfolio of high-quality companies across different sectors and with the appropriate balance For personal use only of Income and Growth is the key for Djerriwarrh to deliver on its Investment Objectives in a variety of market conditions. Key Portfolio St
Slide 20: Outlook
For personal use only Outlook Half-Year Results – January 2026
Slide 21: Outlook
Outlook Markets For personal use only The market had another strong year in 2025, with the S&P/ASX 200 currently trading near its all-time highs. In this context the market overall looks moderately expensive to us, especially against long term valuation metrics. Overall, we remain defensively positi
Slide 22: Djerriwarrh: Australian Equities, Enhanced Yield
erriwarrh _ AUSTRALIAN EQUITIES, ENHANCED YIELD
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