WAM ACTIVE LIMITED — Capital/Financing Update 2026

Feb 5, 2026

6 February 2026

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WAM Active Entitlement Offer | Now Open

The WAM Active Limited (ASX: WAA) Board of Directors is pleased to announce that the 2 for 3 pro-rata non-renounceable Entitlement Offer (Entitlement Offer) for shareholders[1] is now open . The Entitlement Offer provides shareholders[1] the opportunity to increase their holding in the Company at an issue price of $1.00 per New Share, a discount to the current share price[2] . Shareholders who participate in the Entitlement Offer will do so without incurring any brokerage costs and will be entitled to receive the fully franked interim dividend of 3.2 cents per share and the special fully franked dividend of 1.0 cents per share[3] . The WAM Active Board of Directors who hold shares in the Company each intend to apply for their full entitlement under the Entitlement Offer.

2 New Shares for every 3 WAM Active shares held

$1.00 per New Share, a discount to the current share price[2]

Receive the 3.2 cps fully franked 9.1% grossed-up interim dividend dividend yield on and 1.0 cps the issue price[4] special dividend[3]

Participating in the Entitlement Offer

Shareholders[1] can apply for the Entitlement Offer online at www.waaentitlementoffer.com.au.

Apply here

Top-Up Facility

Shareholders who take up their Entitlement Offer in full may also apply for additional new shares in excess of their entitlement (Additional New Shares) under a Top-Up Facility (Top-Up Facility).

Any New Shares not applied for by WAM Active shareholders will be included in the Top-Up Facility. Applications for Additional New Shares under the Top-Up Facility will be allocated at the sole discretion of the WAM Active Board of Directors and will be subject to any scale back required under the takeover provisions of the Corporations Act and to facilitate proportional participation where oversubscribed. There is no guarantee that a shareholder who applies for Additional New Shares will receive all or any of the Additional New Shares that they applied for.

New Shares issued under the Top-Up Facility will rank equally with existing WAM Active shares from their date of issue and will therefore receive the fully franked interim dividend of 3.2 cents per share and the special fully franked dividend of 1.0 cents per share[3] .

6.4 cps Annualised fully franked interim dividend

1.0 cps Special fully franked dividend

WAM Active’s share registry, Boardroom Pty Limited, will email application forms and the Offer Booklet to eligible shareholders[1] who elected to receive communications electronically. This email will come from companies@boardroomlimited.com.au .

Printed copies will be mailed only to those shareholders who have elected not to receive communications electronically. If you currently receive postal correspondence from Boardroom and would like to receive an email application form earlier, please contact Boardroom directly on:

T 1300 420 372

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E wilsonam@boardroomlimited.com.au

Eligible shareholders should read the Offer Booklet in full before deciding whether to subscribe for New Shares.

1All shareholders with a registered address in Australia or New Zealand on the register as of the record date, Wednesday 4 February 2026 at 7:00pm (Sydney time).

2The current share price of $1.035 per share is as at 5 February 2026, the day before the Entitlement Offer opened. The shares traded ex-entitlement from 3 February 2026.

3Assumes shareholders continue to hold New Shares issued under the Entitlement Offer and Top-Up Facility on the dividend record dates of Monday 18 May 2026 for the fully franked interim dividend of 3.2 cents per share and Thursday 18 June 2026 for the special fully franked dividend of 1.0 cents per share.

4Based on the annualised fully franked interim dividend of 6.4 cents per share, excluding the special fully franked dividend of 1.0 cents per share and the issue price of $1.00 per New Share. Grossed-up dividend yield includes the value of franking credits and is based on a tax rate of 30.0%.

WAM Active Limited (ASX: WAA) ABN 49 126 420 719 | wilsonassetmanagement.com.au

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About WAM Active

WAM Active Limited (ASX: WAA) provides investors with exposure to an active trading style with the aim of achieving a sound return with low correlation to traditional markets. The Company’s investment objectives are to deliver a regular income stream via fully franked dividends, provide a positive return with low volatility, after fees, over most periods of time, and to preserve capital.

All major platforms provide access to WAM Active, including Asgard eWRAP Investment, BT Panorama, BT Wrap, Colonial First State FirstWrap, Hub24, IOOF Pursuit Select Investment Service, Macquarie Investment Manager / Consolidator, MLC Wrap IDPS and SMS, Netwealth Wrap and North Investment.

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Listed

January 2008

WAM Active receives coverage from the following independent investment researchproviders:

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This announcement has been authorised by the Board of WAM Active Limited.

About Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for over 28 years. As the investment manager for nine leading listed investment companies (LICs): WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap (ASX: WMI), WAM Income Maximiser (ASX: WMX), WAM Alternative Assets (ASX: WMA), WAM Strategic Value (ASX: WAR), WAM Research (ASX: WAX) and WAM Active (ASX: WAA); and three unlisted funds: Wilson Asset Management Leaders Fund, Wilson Asset Management Founders Fund and Wilson Asset Management Equity Fund, Wilson Asset Management invests over $6.0 billion on behalf of more than 130,000 retail and wholesale investors.

Wilson Asset Management created and is the lead supporter of the first LICs to deliver both investment and social returns: Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG), as well as Future Generation Women. Wilson Asset Management advocates and acts on behalf of retail investors, is a member of the global philanthropic Pledge 1% movement, is a significant funder of many Australian charities and provides all team members with $10,000 each year to donate to charities of their choice. All philanthropic investments are made by Wilson Asset Management and not the LIC.

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$6.0 billion in funds under management

250 years combined investment experience

+28 years making a difference for shareholders

12 investment products

For more information visit www.wilsonassetmanagement.com.au or contact:

Geoff Wilson AO Kate Thorley Jesse Hamilton Chairman & Chief Executive Officer Chief Financial Officer Chief Investment Officer (02) 9247 6755 (02) 9247 6755 (02) 9247 6755 X (Twitter): @GeoffWilsonWAM 0405 115 644 0401 944 807 LinkedIn: @Geoff Wilson

Alexandra Hopper Irwin Head of Corporate Affairs and Marketing

(02) 9247 6755 0431 381 295

WAM Active Limited (ASX: WAA) ABN 49 126 420 719 | wilsonassetmanagement.com.au

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