WAM Leaders Limited · ASX:WLE
WAM Leaders — Investor Presentation (August 2026)
25 slides from WAM Leaders's investor presentation, Aug 6, 2026
Slide 1: Investor Presentation
For personal use only Investor Presentation (ASX: WLE) | August 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by WAM Leaders Limited (ACN 611 053 751) (Company) and MAM Pty Limited (ACN 100 276 542) (AFSL no. 223 231) (part of For personal use only the Wilson Asset Management Group) (Wilson Asset Management). The information contained in this presentation is fo
Slide 3: Strong investment portfolio outperformance and increased fully franked full year dividend: FY2026 results
Strong investment portfolio outperformance and increased fully franked full year dividend: FY2026 results For personal use only 10.3% Grossed-up dividend yield +14.0% +7.9% +24.7% Performance of the Outperformance of the FY2026 total shareholder on issue price* investment portfolio in the investment
Slide 4: Investment portfolio outperformance since inception
Investment portfolio outperformance since inception For personal use only Investment portfolio performance 1 3 yrs 5 yrs 7 yrs 10 yrs Since inception at 31 July 2026 yr %pa %pa %pa %pa %pa (May-16) WAM Leaders Investment Portfolio 11.3% 7.2% 9.2% 11.6% 12.1% 12.1% S&P/ASX 200 Accumulation Index 6.0%
Slide 5: Fully franked dividends since inception
Fully franked dividends since inception Cents per share 10.0 Increased fully franked Grossed-up dividend For personal use only full year dividend yield on issue price^ 96.5 cps dividends paid 8.0 since inception, when including the value of franking credits 4.7 4.8 9.6 cps 10.3% 4.5 4.6 6.0 4.0 Incr
Slide 6: A proven leader in Australian large-cap equities
A proven leader in Australian large-cap equities For personal use only Actively managed Australian Delivering investment portfolio Focused on delivering fully franked large-cap investment portfolio with outperformance since inception dividends, capital growth and the flexibility to capitalise on thr
Slide 7: Positioned for the opportunities ahead
Positioned for the opportunities ahead For personal use only 1. Policy uncertainty is underpriced • The WAM Leaders investment team believes markets are pricing a relatively smooth policy path despite inflation and labour market data that suggest a more uncertain outlook. • The Reserve Bank of Austr
Slide 8: Key Placement terms
Key Placement terms Placement size Up to $200 million For personal use only Placement securities Up to 150,943,396 Placement price $1.325 per share, a 5.0% discount to the latest share price* Bookbuild opens Thursday, 6 August 2026 Placement result announcement date Monday, 10 August 2026 Expected d
Slide 9: Appendix: Investment portfolio positioning and outlook
Appendix: Investment portfolio positioning For personal use only and outlook
Slide 10: Investment Process
Investment Process Wilson Asset Management’s proven investment process is focused on three key areas: For personal use only Macroeconomic Fundamentals Positioning Aim: To translate the latest macro data and forecasts Aim: To identify earnings ahead of expectations. Aim: To capitalise on changes in c
Slide 11: Investment Philosophy
Investment Philosophy For personal use only • The ASX200 is a heavily macro influenced market which supports our highly active process. • Our pragmatic approach is formulated to take advantage of opportunities through various business cycles and regimes. • We believe a dynamically adjusted core port
Slide 12: Now is a time to be value conscious
Now is a time to be value conscious Upside risk to inflation expectations drives tightening of multiple dispersion For personal use only • The spread between expensive and cheap stocks tightens when there is a lot of inflation risk being priced into bonds. This is because there is Fed tightening ris
Slide 13: We are wary of growth stocks that are now trading like cyclicals
We are wary of growth stocks that are now trading like cyclicals For personal use only • Growth stocks traditionally follow the path of interest rate uncertainty. Higher (lower) uncertainty weighs (supports) growth stock outperformance in the period ahead. • However, recently, we have seen growth st
Slide 14: Resources are Australia's AI proxy
Resources are Australia’s AI proxy For personal use only • Historically, commodity prices follow world industrial production (IP) growth. Strong (soft or weak) IP growth is usually consistent with higher (lower) commodity prices. But over the past year or so, commodity prices are up strongly despite
Slide 15: We are not leaning with momentum
We are not leaning with momentum Uncertainty puts crowded trades at risk For personal use only • Momentum investors tend to underperform when uncertainty is high, signaling an inflection point in the cycle, and the untrustworthiness of trends. • Globally, AI stocks are in the momentum bucket, wherea
Slide 16: The case for real estate investment trusts (REITs)
The case for real estate investment trusts (REITs) Australian rates can fall For personal use only • The Reserve Bank of Australia (RBA) sets the cash rate equal to the long-term neutral rate (the rate needed to keep inflation stable inside the Bank's target band, and growth at long-term potential)
Slide 17: Diversified investment portfolio by sector
Diversified investment portfolio by sector Active sector weights For personal use only at 31 July 2026 at 31 July 2026 0.1% 5.2% 1.8% Materials: 30.3% 2.5% Sector Portfolio %# Benchmark % Active % Financials: 19.9% 3.0% Real estate 12.1 5.8 ↑ 6.3 Real estate: 12.1% Materials 30.3 25.0 ↑ 5.3 4.1% 30.
Slide 18: Top holdings
Top 20 holdings with portfolio weightings at 31 July 2026 For personal use only Company Code % Company Code % Company Code % Company Code % BHP 9.6% NAB 3.0% ALL 2.2% SCG 1.8% CBA 7.4% MQG 2.8% AMC 2.0% GMG 1.8% RIO 4.2% MGR 2.5% BSL 2.0% COL 1.5% WES 3.8% WDS 2.5% JHX 2.0% DNL 1.5% WBC 3.2% SGP 2.5
Slide 19: Appendix: About Wilson Asset Management
Appendix: About Wilson Asset Management For personal use only
Slide 20: Investment team
Investment team For personal use only Matthew Haupt John Ayoub Anna Milne Hailey Kim Damien Boey Lead Portfolio Manager Portfolio Manager Deputy Portfolio Manager Senior Investment Analyst Portfolio Strategist BCom GradDip App Fin CFA LLB BA GradCert App Fin BCom CFA BEcon CA BEc (Hons 1) LLB (Hons
Slide 21: Experienced Board of Directors
Experienced Board of Directors For personal use only Geoff Kate Alexa Melinda Dr Ian Wilson AO Thorley Henderson Snowden Langford Title Chairman Director Independent Director Independent Director Independent Director Experience +46 years of markets +26 years of funds +33 years’ global experience in
Slide 22: An industry leading investment team
An industry leading Geoff Wilson AO Chief Investment Officer investment team BSc GMQ FFINSIA FAICD Founded Wilson Asset Management in 1997 Lead Portfolio Managers Matthew Haupt Oscar Oberg Catriona Burns WAM Leaders (Australian large caps), WAM Capital, WAM Microcap, WAM Research and For personal us
Slide 23: An experienced management team
An experienced management team For personal use only Geoff Wilson AO Kate Thorley Catriona Burns Matthew Haupt Oscar Oberg Chairman & Executive Director Chief Executive Officer & Lead Portfolio Manager Lead Portfolio Manager Chief Investment Officer 26 years’ experience Lead Portfolio Manager WAM Le
Slide 24: A diversified portfolio offering
Wilson Asset Management was established in A diversified portfolio offering 1997 with a purpose of making a difference for our shareholders and the community. We invest $6.0 billion on behalf of more than 130,000 retail and wholesale investors. Listed investment companies (LICs) Trusts For personal
Slide 25: Get in touch
Get in touch www.wilsonassetmanagement.com.au (02) 9247 6755 For personal use only [email protected] Alexandra Hopper Irwin April Lowis Head of Corporate Affairs and Senior Investor Relations Join more Marketing (02) 9247 6755 Advisor 0411 182 119 than 100,000 alexandra@wilsonassetma