Morphic Ethical Equities Fund Ltd. · ASX:MEC
Morphic Ethical Equities Fund — Shareholder Meeting (November 2025)
26 slides from Morphic Ethical Equities Fund's shareholder meeting presentation, Nov 20, 2025
Slide 1: Morphic Ethical Equities Fund Limited Annual General Meeting
For personal use only Morphic Ethical equities fund limited 20 November 2025 Annual General Meeting 1 Global Responsible Investors
Slide 2: AGM Agenda
AGM Agenda For personal use only • Consideration of Financial Statements and Reports • Resolution 1: Remuneration Report • Resolution 2: Re-election of Kirstin Hunter as a Director • Resolution 3: Approval to increase on-market buy back capacity • Portfolio Update 2 Global Responsible Investors
Slide 3: Consideration of Financial Statements and Reports
Consideration of Financial Statements and Reports For personal use only To receive the Financial Report, Directors’ Report and Auditor’s Report for the Company for the financial year ended 30 June 2025. There is no requirement for Shareholders to approve these reports 3 Global Responsible Investors
Slide 4: Company Results
Company Results Company Performance For personal use only 9 months to 12 months to 12 months to 12 months to 30 June 2022* 30 June 2023 30 June 2024 30 June 2025 Pre-Tax Operating Profit/Loss -$ 16.2m +$ 10.7m -$1.2m +7.0m Post-Tax Operating Profit/Loss -$ 11.3m +$ 7.6m -$1.0m +5.4m Dividend - cents
Slide 5: AGM – Proxies & Voting
For personal use only AGM – PROXIES & VOTING 5 Global Responsible Investors
Slide 6: Resolution – Remuneration Report
RESOLUTION 1 –Remuneration Report For personal use only “That the Remuneration Report of the Company (which forms part of the Directors' Report) for the financial year ended 30 June 2025 be adopted.” 6 Global Responsible Investors
Slide 7: Resolution 1 - Proxy Voting Results
RESOLUTION 1- Proxy Voting Results For personal use only Number % FOR 1,789,855 87.22 AGAINST 40,477 1.97 OPEN – Nominated Chair1 90,961 4.43 – Other Nomination 131,011 6.38 1. To be voted in favour of the resolution 7 Global Responsible Investors
Slide 8: Resolution – Re-election of Director
RESOLUTION 2 – Re-election of Director For personal use only “That Ms Kirstin Hunter, who retires by rotation in accordance with rule 6.7 of the Company’s Constitution and, being eligible, offers herself for re- election, be re-elected as a director of the Company.” 8 Global Responsible Investors
Slide 9: Resolution - Proxy Voting Results
RESOLUTION 2 - Proxy Voting Results For personal use only Number % FOR 1,865,482 87.11 AGAINST 54,000 2.52 OPEN – Nominated Chair1 90,961 4.25 – Other Nomination 131,011 6.12 1. To be voted in favour of the resolution 9 Global Responsible Investors
Slide 10: Resolution – Approval to increase on-market buy back capacity
RESOLUTION 3 – Approval to increase on-market buy back capacity For personal use only “That for the purposes of section 257C of the Corporations Act and for all other purposes, approval is given to the Company to buy back up to 6,475,300 Shares on the terms described in the Explanatory Memorandum wh
Slide 11: Resolution - Proxy Voting Results
RESOLUTION 3 - Proxy Voting Results For personal use only Number % FOR 1,866,247 87.10 AGAINST 84,406 3.94 OPEN – Nominated Chair1 61,030 2.85 – Other Nomination 131,011 6.11 1. To be voted in favour of the resolution 11 Global Responsible Investors
Slide 12: Voting closed
For personal use only Voting closed 12 Global Responsible Investors
Slide 13: Questions
For personal use only questions 13 Global Responsible Investors
Slide 14: Thank you
For personal use only Thank you 14 Global Responsible Investors
Slide 15: For personal use only
For personal use only Investor Update 15 Global Responsible Investors
Slide 16: Investment Screening Summary
Investment Screening Summary For personal use only Source: Ellerston Capital, 1 Development and production of controversial weapons, including, nuclear weapons.2 Production of tobacco, manufacture of Nicotine alternatives and tobacco-based products. 16 Global Responsible Investors
Slide 17: Morphic / Ellerston Global Mid Small Cap Team
Morphic / Ellerston Global Mid Small Cap Team Ashok Jacob – Chairman For personal use only Dedicated Global Team Nick Markiewicz Deija Li Gaurav Pathak* Teng Lin Bill Pridham Co-Portfolio Manager Snr. Investment Analyst Snr. Investment Analyst Investment Analyst Snr. Investment Analyst (15) (10) (21
Slide 18: The case for Global Mid/Small Caps
The case for Global Mid/Small Caps For personal use only Historically produced higher Larger Opportunity Set and Value of active approach Heading 3 Heading 3 Valuations Attractive upside Improved Diversification Global Mid/Small Cap The Global Mid/Small Cap The Global/Mid Small Cap The Global/Mid Sm
Slide 19: Global Mid/Small Caps are attractively valued
Global Mid/Small Caps are attractively valued For personal use only Return: MSCI World Mid Cap VS MSCI World Large Cap Relative FWD PE :S&P 600 vs S&P 500 (Median company) 115 1.3x 110 +1 STD 1.2x 105 1.1x 100 1.0x 95 0.9x -1 STD Oct 25 PE: 90 S&P 500 – 19.4x 0.8x S&P 600 – 14.4x 85 Current 0.7x TMT
Slide 20: Portfolio Thematics
Portfolio Thematics For personal use only Secular Growth Mispriced Compounders High-quality businesses with underappreciated earnings High-quality businesses that have fallen out of favour potential 39% 35% Quality Defensives Opportunistic Defensive businesses with low volatility and 10% 16% Busines
Slide 21: Portfolio Composition
Portfolio Composition For personal use only Top 10 Holdings Top 10 holdings Sector Country Domicile Portfolio Weight (%) Nebius Group Information Technology United States 5.4 Corpay Financials United States 4.3 AerCap Holding Industrials United States 4.2 Galaxy Digital Financials United States 4.1
Slide 22: Aercap (AER-US)
Aercap (AER-US) Long-term aerospace compounder at attractive valuation For personal use only AER Price Chart AER is the world’s largest owner and lessor of aircraft, with >2,500 commercial aircraft and jet engines. The assets include the most in-demand, next-generation aircraft with a low average 14
Slide 23: Morphic Ethical Equities Fund Performance
Morphic Ethical Equities Fund Performance For personal use only 1 3 1 3 5 Since Inception Portfolio Performance FY25 CYTD FYTD Month Months Year Years (p.a.) Years (p.a.) (p.a.)^ Net 21.5% 0.8% 7.6% 16.6% 7.5% 21.0% 14.3% 10.7% 9.0% Benchmark* 18.4% 3.5% 6.8% 14.5% 10.1% 22.7% 20.7% 16.2% 13.5% Alph
Slide 24: Questions
For personal use only Questions 24 Global Responsible Investors
Slide 25: Thank You
For personal use only THANK YOU 25 Global Responsible Investors
Slide 26: Morphic Asset Management contact and disclaimer
Morphic Asset Management Level 11, 179 Elizabeth St For further enquiries: For personal use only Sydney 2000 Investor Relations Team New South Wales Phone:+612 9021 7701 Australia Email: [email protected] Disclaimer: Unless specifically indicated, this presentation is for information purpose
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