Barramundi Limited — AGM Information 2017

Nov 2, 2017

Barramundi Limited ANNUAL MEETING OF SHAREHOLDERS 3 November 2017

Agenda

• Preliminary matters (Annual Report, minutes & class financial advice)

• Chair’s Overview

• Manager’s Review

• Q&A

• Annual Meeting Resolutions

Board of Directors

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Alistair Ryan Carmel Fisher Andy Coupe Carol Campbell

Investment Team

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Manuel Greenland Snr Portfolio Manager

Terry Tolich Snr Investment Analyst

Delano Gallagher Investment Analyst

Chair’s Overview Presentation of Annual Result

Barramundi’s Investment Objectives

Absolute Returns

Achieve a high real rate of return, comprising both income and capital growth within acceptable risk parameters

Diversified Portfolio

Access to a diversified portfolio of Australian quality, growth stocks single tax-efficient vehicle

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2017 Overview

Net profit	Dividend	NAV per share
$2.7m (2016: $5.4m)	5.40cps (2016: 5.52cps)	$0.64 (2016: $0.67)
Total shareholder return*	Dividend return	Adjusted NAV return*
+6.2% (2016: +0.4%)	+8.7% (2016: +8.2%)	+2.7% (2016: +6.2%)

*These metrics are Non-GAAP measures calculated in accordance with the methodology described in the Barramundi Non-GAAP Financial Information Policy which is available on the Barramundi website.

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$ million
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Use of Shareholder Funds
Year ended 30 June 2017
105
100
+3
-8
95 97
+3
95
90
85
80
75
Opening Net Dividends Paid Dividends Reinvested Buybacks Closing
NAV Profits NAV
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Portfolio Performance
For the year ended 3 years
12 months 5 years (annualised)
30 June (annualised)
Gross
Performance
+6.0% +9.9% +10.0%
Return
Benchmark
+14.7% +10.2% +8.3%
Index^
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^S&P/ASX Small Ords Industrial Gross Index until 30 September 2015 & S&P/ASX 200 Index (hedged 70% to NZD) from 1 October 2015

*This metric is a Non-GAAP measure and calculated in accordance with the methodology described in the Barramundi Non-GAAP Financial Information Policy which is available on the Barramundi website.

Warrants

• Warrant exercise date: 24 November

• Final date for trading warrants: 22 November

• Warrant exercise price is $0.58

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2017/2018 First Four Months

30 June – 31 October 2017

Gross performance return* +0.3% +11.2% NAV per share Benchmark Index^ $0.69 +7.0%

Total shareholder return* +0.3%

Net profit $10.0m

^S&P/ASX Small Ords Industrial Gross Index until 30 September 2015 & S&P/ASX 200 Index (hedged 70% to NZD) from 1 October 2015

*These metrics are Non-GAAP measures calculated in accordance with the methodology described in the Barramundi Non-GAAP Financial Information Policy which is available on the Barramundi website.

Manager’s Review Manuel Greenland Senior Portfolio Manager

Underperformed vs. ASX200

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Core Holdings Continue to Grow Profitably

Barramundi company annual earnings growth 2014 to 2018e

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35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
CSL Seek CarSales.com ResMed Domino's Tech One
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Super Sensitive Share Prices

-60% -50% -40% -30% -20% -10% 0%	-7% -8% -10% -50% -43% -27% Vocus Domino's APN Outdoor
	Revision Share Performance

What went es eciall well p y

CSL +25%

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ResMed +23% NAB +25%

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What went a ainst us g

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Vocus
-50%
Aconex
-40%
Domino’s
-22%
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$100 invested after the GFC…

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450
400
350
300
250
200
150
100
50
-
Australia Europe New Zealand US US technology
NZD
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The RBA has rung the bell…

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Commodity prices +++ Retail sales +++

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Jobs +++
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Changing logistics

What does Wisetech do?

• software for freight forwarders

• manages compliance

• reduces staff costs

• improves customer efficiencies

• presence in strategic global trade locations

Why do we like Wisetech?

• it makes its customers more profitable

• leading technology

• every customer enhances the solution

• their knowledge is hard to replicate

• the sales opportunity is huge

• positive customer feedback

E-commerce is increasing ……….… but so is regulation

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Stronger safer vehicles

What does ARB do?

• 4x4 vehicle upgrades

• high tech suspension systems

• innovative storage solutions

• wide range of accessories

Why do we like ARB?

• it enjoys a niche dominance

• • great long-term track record

• growing opportunity locally and globally

• advice, service, social

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Future of advertising

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Traditional media audiences are falling, especially among the youth …

… and online advertising is growing fast …

… but so are online ad blockers.

Out of Home Media Solution

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Multitude of Opportunity Ahead

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General Questions from Shareholders (not relating to resolutions)

Annual Meeting 2017 resolutions

2017 Annual Meeting Resolutions

• Introduce and propose

• Discussion, questions

• Enter your vote on voting paper and lodge your voting paper at end of resolutions

Matters of Business

• Annual Report

• Resolutions:

• Re-elect Andy Coupe

• – Auditor’s remuneration

Proxy Count

Resolution	For	Against	Discretionary	Total	Abstain
Re-elect Andy Coupe	9,525,875	2,057,489	2,705,986	14,289,350	44,013
Fix auditor’s remuneration	10,947,968	202,381	3,102,976	14,253,325	80,038

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Proxy votes to date: 14.3 million

Resolution 1 Re-election of And Cou e y p To re-elect Andy Coupe as a director of Barramundi Limited

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Resolution 2 Auditor’s Remuneration

To authorise the Board of Directors to fix the remuneration of the auditor for the ensuing year

Conclusion

• Complete and sign voting paper

• Voting papers in the voting boxes

• If you need a voting paper please see Computershare

• Results to NZX

THANK YOU