WAM ACTIVE LIMITED — Capital/Financing Update 2018

Aug 20, 2018

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Level 11, 139 Macquarie St Sydney NSW 2000 Australia

17 August 2018

Dear Fellow Optionholder,

A FINAL REMINDER TO EXERCISE OR SELL YOUR WAM ACTIVE OPTIONS

As a holder of WAM Active options (ASX: WAAO) you will soon need to decide whether you will exercise your options before they expire on 17 September 2018. The benefits of exercising your options include:

• Acquiring additional shares without paying brokerage fees;

• Purchasing shares at $1.14 per share, a discount to the $1.15[*] share price; and

• Receiving the fully franked final dividend of 2.85 cents per share, which represents a fully franked full year dividend yield of 5.0% on the exercise price.

If you would like to exercise all or some of your options, please complete the enclosed form. Alternatively, you can sell your options on the ASX before they cease trading on 11 September 2018. The options are currently trading at $0.004[*] . If you do not exercise your options before they expire on 17 September 2018 or sell your options before they cease trading on 11 September 2018, they will expire and have no value.

WAA share price quotations
Closing price on 17 August 2018	$1.15
Three-month high before 17 August 2018	$1.16
Three-month low before 17 August 2018	$1.08

The WAM Active 2018 full year results announcement is enclosed to assist you in making this decision. If you have any further questions, please call Senior Communications Advisor Alexandra Hopper Irwin on (02) 9247 6755. We look forward to providing an update to our WAM Active shareholders at our Investor Conference Call on 25 September 2018 and meeting you at our next Shareholder Presentations in November 2018.

Yours sincerely,

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Geoff Wilson AO Chairman

*As at 17 August 2018

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wilsonassetmanagement.com.au ABN 49 126 420 719

T + 61 2 9247 6755 E info@wilsonassetmanagement.com.au

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"The Board is delighted to deliver shareholders an increased fully franked full year dividend of 5.7 cents per share"

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info@wilsonassetmanagement.com.au

Telephone. + 61 2 9247 6755 Fax. +61 2 9247 6855

wilsonassetmanagement.com.au

ABN 49 126 420 719

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Telephone. + 61 2 9247 6755 info@wilsonassetmanagement.com.au Fax. +61 2 9247 6855 wilsonassetmanagement.com.au

ABN 49 126 420 719