WAM ALTERNATIVE ASSETS LIMITED — AGM Information 2021

Oct 21, 2021

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Notice of 2021 Annual General Meeting

Date Tuesday 23 November 2021 Time 9:30am (AEDT) Access https://web.lumiagm.com/320635101

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WAM Alternative Assets wilsonassetmanagement.com.au Page 1 of 11 Limited ABN 47 168 941 704

Notice of 2020 AGM

ABN 47 168 941 704

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Notice of 2021 Annual General Meeting

Notice is given that the 2021 Annual General Meeting (AGM) of members of WAM Alternative Assets Limited (the Company) will be hosted online as follows:

Date Tuesday 23 November 2021 Time 9:30am (AEDT) Access https://web.lumiagm.com/320635101

Information on how to participate in the virtual meeting is outlined in the AGM Online User Guide on pages 8 to 11 of this Notice of Meeting.

Business

Financial Statements and Reports

To receive and consider the financial statements, Directors’ Report and Auditor’s Report of the Company for the financial year ended 30 June 2021.

Note : There is no requirement for shareholders to approve these reports.

Resolution 1: Adoption of Remuneration Report

To consider, and if thought fit, to pass the following resolution as an ordinary resolution :

“That in accordance with Section 250R of the Corporations Act 2001 (Cth), the Remuneration Report, as set out in the Directors’ Report, be adopted.”

Notes:

• a) the vote on this resolution is advisory only and does not bind the Directors or the Company.

• b) the Company’s key management personnel (whose remuneration details are included in the Remuneration Report) and their closely related parties must not cast a vote on the Remuneration Report unless they are appointed in writing as a proxy for a member eligible to vote on the resolution and that proxy specifies how to vote on the resolution, or the vote is cast by the Chairman as proxy for a member eligible to vote on the resolution, the proxy does not specify how to vote on the resolution and the proxy expressly authorises the Chairman to vote even if it is connected with the remuneration of a member of the key management personnel.

• c) the Chairman will vote all undirected proxies in favour of this resolution. If you wish to vote ‘against’

or ‘abstain’ you should mark the relevant box in the attached proxy and question form.

Resolution 2: Re-election of Director – John Baillie To consider, and if thought fit, to pass the following resolution as an ordinary resolution :

“That Mr John Baillie, who retires by rotation in accordance with Rule 19.3 of the Company’s Constitution and Listing Rule 14.4 and, being eligible and offering himself for re-election, be re-elected as a Director of the Company.”

Information about Mr Baillie appears in the Explanatory Memorandum attached to this Notice of Meeting.

Resolution 3: Re-election of Director – Kym Evans To consider, and if thought fit, to pass the following resolution as an ordinary resolution :

“That Mr Kym Evans, who retires by rotation in accordance with Rule 19.3 of the Company’s Constitution and Listing Rule 14.4 and, being eligible and offering himself for re-election, be re-elected as a Director of the Company.”

Information about Mr Evans appears in the Explanatory Memorandum attached to this Notice of Meeting.

Resolution 4: Approval of additional 10% placement capacity

To consider and, if thought fit, pass the following resolution, with or without amendment, as a special resolution :

“That the Company have the additional capacity to issue equity securities provided for in Listing Rule 7.1A”.

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WAM Alternative Assets wilsonassetmanagement.com.au Page 2 of 11 Limited ABN 47 168 941 704 Notice of 2021 AGM

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Without limitation, Listing Rule 7.1A is relevant to this special resolution.

Information about the additional capacity to issue equity securities provided for in Listing Rule 7.1A appears in the Explanatory Memorandum attached to this Notice of Meeting.

Voting exclusion statement: The Company will disregard any votes cast in favour of this Resolution 4 by or on behalf of any person who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issue of equity securities under this Resolution 4 (except a benefit solely by reason of being a shareholder in the Company) or any of their associates. However, the Company will not disregard a vote if it is cast:

• a) by a person as proxy for a person who is entitled to vote, in accordance with the directions on the proxy and question form; or

• b) by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the proxy and question form to vote as the proxy decides; or

• c) a holder acting solely in a nominee, trustee, custodial or other fiduciary capacity on behalf of a beneficiary provided the following conditions are met:

• i. the beneficiary provides written confirmation to the holder that the beneficiary is not excluded from voting, and is not an associate of a person excluded from voting, on the resolution; and

• ii. the holder votes on the resolution in accordance with directions given by the beneficiary to the holder to vote in that way.

Note: In accordance with Listing Rule 14.11.1 and the relevant note under that rule concerning Listing Rule 7.1A, as at the date of this Notice of Meeting it is not known who may participate in the proposed issue (if any). On that basis, no shareholders are currently excluded.

Proxies

A member entitled to attend and vote at this AGM is entitled to appoint not more than two proxies to attend and vote in his/her place. A proxy does not need to be a member of the Company.

If a member appoints two proxies, the member may specify the proportion or number of votes each proxy is entitled to exercise. If no proportion or number of votes is specified, each proxy may exercise half of the member’s votes. If the specified proportion or number of votes exceeds that which the member is entitled to, each proxy may exercise half of the member’s votes. Any fractions of votes brought about by the apportionment of votes to a proxy will be disregarded.

Proxies can be appointed in one of three ways:

• a) online through the share registry’s website at https://investor.automic.com.au/#/loginsah.

Login to the Automic website using the holding details as shown on the Proxy Form. Click on ‘View Meetings’ – ‘Vote’. To use the online lodgement facility, shareholders will need their holder number (Security Holder Reference (SRN) or Holder Identification Number (HIN)), as shown on the front of the Proxy Form;

• b) by email: wilsonam@automic.com.au; or

• c) by posting or delivering the proxy and question form by hand to the share registry (addresses below).

Proxies must be appointed no later than 48 hours before the AGM i.e. 9:30am (AEDT) on 21 November 2021.

Hand deliveries to our share registry: Automic

Level 5, 126 Phillip Street Sydney NSW 2000

Postal address: Automic

GPO Box 5193 Sydney NSW 2001

Fax number:

+61 2 8583 3040

A proxy and question form is provided with this Notice of Meeting.

Online voting procedures during the AGM

To participate in the AGM online, shareholders may do so:

• a) From their computer, by entering the URL into their browser: https://web.lumiagm.com/320635101

• b) From their mobile device by entering the URL in their browser: https://web.lumiagm.com/320635101.

• To participate in the AGM online, you can log into the meeting by entering:

• The meeting ID, which is 320-635-101.

• Your username, which is your SRN/HIN (located either on your proxy and question form, or on a recent shareholding statement).

• Your password, which is the postcode registered to your holding if you are an Australian shareholder. Overseas shareholders should use the 3-letter country code of their registered address.

• If you have been nominated as a third party proxy, please contact Automic on 1300 408 788.

Attending the meeting online enables shareholders to view the AGM live and to also ask questions and cast direct votes at the appropriate times whilst the meeting

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is in progress. More information regarding participating in the AGM online can be found by visiting www.wilsonassetmanagement.com.au or at the end of this Notice of Meeting.

In accordance with the Company’s Constitution, the Chairman intends to demand a poll on each resolution proposed at the AGM. Voting on each resolution considered at the AGM will be conducted by a poll rather than a show of hands.

The Chairman considers voting by poll to be in the interests of shareholders as a whole particularly as the AGM is being conducted as a virtual meeting and is a way to ensure the views of as many shareholders as possible are represented and offered an opportunity to participate at the AGM.

Optional question for the Chairman or Auditor

We aim to provide shareholders with the best opportunity to ask questions about the Company and its external audit at the AGM. If you would like to ask a question ahead of the meeting, please email wilsonam@automic.com.au. Alternatively, shareholders can complete and return the question form to Automic Pty Limited. Shareholders participating in the meeting online may also ask questions during the course of the AGM.

Entitlement to Vote

In accordance with section 1074E(2)(g)(i) of the Corporations Act 2001 (Cth) and regulation 7.11.37 of the Corporations Regulations, the Company has determined that for the purposes of the Meeting all shares in the capital of the Company will be taken to be held by the persons who held them as registered holders at 7:00pm (AEDT) on 21 November 2021. Accordingly, share transfers registered after that time will be disregarded in determining entitlements to attend and vote at the AGM.

By order of the Board:

Jesse Hamilton Company Secretary 15 October 2021

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wilsonassetmanagement.com.au Page 4 of 11 ABN 47 168 941 704

WAM Alternative Assets Limited Notice of 2021 AGM

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Explanatory Memorandum

This Explanatory Memorandum sets out further information regarding the proposed resolutions to be considered by shareholders of WAM Alternative Assets Limited (the Company) at the 2021 Annual General Meeting (AGM) to be hosted online commencing at 9:30am (AEDT) on Tuesday 23 November 2021 via https://web.lumiagm.com/320635101.

The Directors recommend that shareholders read this Explanatory Memorandum before determining whether or not to support the resolutions.

Resolution 1: Adoption of Remuneration Report The Company’s Remuneration Report sets out the remuneration arrangements for the Directors and key management personnel of the Company. The Remuneration Report is part of the Directors’ Report contained in the Annual Report of the Company for the financial year ended 30 June 2021.

The Corporations Act requires that at a listed company’s AGM, a resolution that the remuneration report be adopted must be put to the shareholders. However, such a resolution is advisory only and does not bind the Directors or the Company. The Board will take the outcome of the vote into account when considering the future remuneration arrangements of the Company.

Shareholders will be given reasonable opportunity at the AGM to ask questions about, and make comments on, the Remuneration Report.

The Directors unanimously recommend that shareholders VOTE IN FAVOUR of Resolution 1.

Resolution 2: Re-election of Director – John Baillie

GAICD GradDip

John Baillie has been a Director of the company since November 2018. John has over 25 years’ experience in financial services, including wealth management, corporate advisory, investor relations and private equity capital raisings. John was a Senior Investment Advisor with Shaw and Partners (formally Shaw Stockbroking) for 22 years, with an emphasis on portfolio management, trading and private equity capital raisings. In 2015 John established JB & Partners Corporate Advisory that specialises in strategic advice and succession planning for private companies; particularly family businesses. John has advised in a diverse range of industries, including financial services (particularly AFSL issues), FMCG companies, eCommerce and the funeral industry. John is currently Chairman of Seneca Financial

Solutions and non-executive Director of a number of private companies.

Listing Rule 14.4 provides that a director of an entity must not hold office (without re-election) past the third annual general meeting following the director’s appointment or 3 years, whichever is longer. If Resolution 2 is passed, Mr Baillie will be re-elected as a director of the Company and if Resolution 2 is not passed, Mr Baillie will cease to be a director of the Company.

The Directors (excluding Mr Baillie) strongly support the re-election of Mr Baillie and unanimously recommend that shareholders VOTE IN FAVOUR of Resolution 2.

Resolution 3: Re-election of Director – Kym Evans Bec LLB (hons) MCyberSecOps

Kym Evans has been a Director of the company since November 2018. has over 30 years’ experience in legal risk and general management roles. Kym was a private practice lawyer for 10 years, including 7 years with Allens. He had a further 10 years’ experience as in-house counsel with HBOS Australia, Nortel Networks, Arnott’s Biscuits and Flexirent Capital. Kym also performed management roles at BankWest (Head of Customer Projects Commercial and Business Division), Nortel Networks Australia (General Manager-Business Operations) and Flexirent Capital (General ManagerCorporate Services). More recently he held a role as a senior consultant at Control Risk looking after account management and business development for Control Risks’ three practice areas of political risk consulting, integrity risk consulting and security risk consulting.

Listing Rule 14.4 provides that a director of an entity must not hold office (without re-election) past the third annual general meeting following the director’s appointment or 3 years, whichever is longer. If Resolution 3 is passed, Mr Evans will be re-elected as a director of the Company and if Resolution 3 is not passed, Mr Evans will cease to be a director of the Company.

The Directors (excluding Mr Evans) strongly support the re-election of Mr Evans and unanimously

recommend that shareholders VOTE IN FAVOUR of Resolution 3.

Resolution 4: Approval of additional 10% placement capacity

Broadly speaking, and subject to a number of exceptions, Listing Rule 7.1 limits the amount of equity securities that a listed company can issue without the approval of its shareholders over any 12 month period to 15% of the fully paid ordinary securities it had on issue at the start of that period.

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Under Listing Rule 7.1A, however, an eligible entity can seek approval from its members, by way of a special resolution passed at its annual general meeting, to increase this limit by an extra 10% to 25%.

An ‘eligible entity’ means an entity which is not included in the S&P/ASX 300 Index and which has a market capitalisation of $300 million or less. The Company is an eligible entity for these purposes.

Resolution 4 seeks shareholder approval by way of special resolution for the Company to have the additional 10% capacity provided for in Listing Rule 7.1A to issue equity securities without shareholder approval.

If Resolution 4 is passed, the Company will be able to issue equity securities up to the combined 25% limit in Listing Rules 7.1 and 7.1A without any further shareholder approval.

If Resolution 4 is not passed, the Company will not be able to access the additional 10% capacity to issue equity securities without shareholder approval provided for in Listing Rule 7.1A and will remain subject to the 15% limit on issuing equity securities without shareholder approval set out in Listing Rule 7.1.

The following additional disclosure is provided as required by Listing Rule 7.3A:

• a) Date of issue: the period for which the mandate to issue equity securities under Listing Rule 7.1A is valid is the period commencing on the date of the AGM and expiring on the first to occur of the following:

• i. 12 months after the date of the AGM;

• ii. the time and date of the next AGM of the Company; and

• iii. the time and date of approval by shareholders of any transaction under Listing Rules 11.1.2 (a significant change to the nature or scale of the Company’s activities) or 11.2 (disposal of the Company’s main undertaking).

• b) Minimum price: under the Listing Rules, the minimum price at which the equity securities may be issued is 75% of the volume weighted average market price of equity securities in that class, calculated over the 15 trading days on which trades in that class were recorded immediately before:

• i. the date on which the price at which the equity securities are to be issued is agreed; or

• ii. if the equity securities are not issued within 10 trading days of the date in paragraph (i) above, the date on which the equity securities are issued.

• c) Purpose of issue: while the Company does not have any immediate plans to issue equity securities, the purposes for which equity securities may be issued pursuant to Resolution 4 may include the raising of capital for investment purposes in line with the Company’s investment policy. In accordance with Listing Rule 7.3A.3, equity securities issued following approval of Resolution 4 will only be issued for cash consideration.

• d) Risk of economic and voting dilution: shareholders should be aware there is a risk of economic and voting dilution that may result from an issue of equity securities under Listing Rule 7.1A, including the risk that:

• i. the market price for equity securities in that class may be significantly lower on the issue date than on the date of the AGM where approval is being sought; and

• ii. the equity securities may be issued at a price that is at a discount to the market price for those equity securities on the date of issue.

Any issue of equity securities under Listing Rule 7.1A will dilute the interests of shareholders who do not receive any equity securities under the issue.

• e) Allocation under Listing Rule 7.1A: the allottees of the equity securities to be issued under Listing Rule 7.1A have not yet been determined. However, the allottees of equity securities could consist of current shareholders or new investors (or both), none of whom will be related parties of the Company.

The Company will determine the allottees at the time of the issue under Listing Rule 7.1A, having regard to the following factors:

• i. the purpose of the issue;

• ii. alternative methods for raising funds available to the Company at that time, including, but not limited to, an entitlement issue or other offer where existing shareholders may participate; the effect of the issue of the equity securities on the control of the Company;

• iii. the circumstances of the Company, including, but not limited to, the financial position and solvency of the Company;

• iv. prevailing market conditions; and

• v. advice from corporate, financial and broking advisers (if applicable).

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• f) Previous approval under Listing Rule 7.1A: the Company obtained shareholder approval under Listing Rule 7.1A at the 2020 AGM held on 30 November 2020. In the 12 months since the date of that AGM, the Company did not issue any new shares under Listing Rule 7.1A.

Resolution 4 is a special resolution. Accordingly, at least 75% of votes cast by shareholders present or by proxy and eligible to vote at the meeting must be in favour of Resolution 4 for it to be passed.

The Directors support the additional 10% placement capacity and unanimously recommend that shareholders VOTE IN FAVOUR of Resolution 4.

If Resolution 4 is approved by shareholders and the Company issues the maximum number of equity securities available under the 10% placement capacity, the economic and voting dilution of existing Shares would be as shown in the table below.

The table below shows the potential dilution of existing shareholders calculated in accordance with the formula outlined in Listing Rule 7.1A.2, on the basis of the market price of the Shares and the number of Shares on issue as at 6 October 2021. The table also shows the voting dilution impact where the number of Shares on issue (variable A in the formula) changes and the economic dilution where there are changes in the issue price of Shares issued under the 10% placement capacity.

Variable ‘A’ in Listing Rule 7.1A.2 193,932,860 Current Variable A 10% Voting dilution Funds raised 290,899,290 50% increase in current Variable A 10% Voting dilution Funds raised 387,865,720 100% increase in current Variable A 10% Voting dilution Funds raised	Dilution
	$0.523 50% decrease in Issue Price $1.045 Issue Price $2.090 100% increase in Issue Price
	19,393,286 Shares 19,393,286 Shares 19,393,286 Shares
	$10,142,689 $20,265,984 $40,531,968
	29,089,929 Shares 29,089,929 Shares 29,089,929 Shares
	$15,214,033 $30,398,976 $60,797,952
	38,786,572 Shares 38,786,572 Shares 38,786,572 Shares
	$20,285,377 $40,531,968 $81,063,935

Notes:

1. The number of Shares on issue (variable A in the formula) could increase as a result of the issue of Shares that do not require shareholder approval (such as under a pro-rata entitlement offer or scrip issued under a takeover offer) or that are issued with shareholder approval under Listing Rule 7.1.

2. The table above uses the following assumptions:

3. i. The current Shares on issue are the Shares on issue as at 6 October 2021.

4. ii. The issue price set out above is the closing price of the Shares on the ASX on 6 October 2021.

5. iii. The Company issues the maximum possible number of equity securities under the 10% Placement Capacity and no options on issue are exercised.

6. iv. The Company has not issued any equity securities in the 12 months prior to the Meeting that were not issued under an exception in Listing Rule 7.2 or with approval under Listing Rule 7.1.

7. v. The calculations above do not show the dilution that any one particular shareholder will be subject to. All shareholders should consider the dilution caused to their own shareholding depending on their specific circumstances.

8. vi. This table does not set out any dilution pursuant to approvals under Listing Rule 7.1.

9. vii. The 10% voting dilution reflects the aggregate percentage dilution against the issued share capital at the time of issue. This is why the voting dilution is shown in each example as 10%.

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WAM Alternative Assets Limited

Notice of 2021 AGM

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AGM Online User Guide

Attending the AGM virtually

If you choose to participate online, you will be able to view a live webcast of the meeting, ask questions and submit your votes in real time.

To access the meeting:

Visit www.web.lumiagm.com/320635101 on your computer, tablet or smartphone. You will need the latest version of Google Chrome, Safari, Edge or Firefox. Please ensure your browser is compatible.

Meeting ID: 320-635-101

Australian Username – SRN or HIN and Password (postcode of your registered address). SRN or HIN can be residents located either on your proxy and question form, or on a recent shareholding statement.

Overseas Username – SRN or HIN and Password (three-character country code e.g. New Zealand – NZL. A residents full list of country codes can be found at the end of this guide). SRN or HIN can be located either on your proxy and question form, or on a recent shareholding statement.

Appointed To receive your Username and Password, please contact our share registry, Automic on 1300 408 proxy 788 or +61 2 8072 1490 between 8:30am to 5:30pm (Sydney time) Monday to Friday.

To join the meeting, you will be required to enter the above unique 9 digit meeting ID above and select ‘ Join Meeting ’. To proceed to registration, you will be asked to read and accept the terms and conditions. The website will be open and available for log in from 8:30am (Sydney time), Tuesday 23 November 2021.

Using the Lumi AGM platform

The Lumi AGM platform will ask in what capacity you are joining the meeting.

Shareholders or appointed proxies should select “Shareholder or Proxy” and guests should select “Guest”.

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If you are a Shareholder , select “Securityholder or Proxy” and username (SRN or HIN) and password (postcode or country code). If you are a Proxy holder select “Securityholder or Proxy” and enter the unique Username and Password provided by Automic and select ‘ Login ’.

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SRN or HIN
Postcode or Country Code
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If you are not a Shareholder or Proxyholder, select ‘Guest’. You will be asked to enter your name and email address, then select ‘Continue’. Please note, guests are not able to ask questions or vote at the meeting.

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Navigation

Once successfully authenticated, the home page will appear. You can view meeting instructions, ask questions and watch the webcast. If you are viewing on a computer, the webcast will appear at the side automatically once the meeting has started.

On a mobile device, select the broadcast icon at the bottom of the screen to watch the webcast.

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During the meeting, mobile users can minimise the webcast at any time by selecting the arrow by the broadcast icon. You will still be able to hear the meeting. Selecting the broadcast icon again will reopen the webcast.

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Desktop/laptop users can watch the webcast in full screen, by selecting the full screen icon.

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To reduce the webcast to its original size, select the X at the top of the broadcast window.

To vote

If you would like to cast a vote:

The Chair will open voting on all resolutions at the start of the meeting. Once voting has opened, the voting tab will appear on the navigation bar.

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Selecting this tab will open a list of all resolutions and their voting options. To vote, simply select your voting direction from the options displayed on screen. Your selection will change colour and a confirmation message will appear.

To change your vote, simply select another option. If you wish to cancel your vote, please press cancel. There is no need to press a submit or send button. Your vote is automatically counted. Voting can be performed at any time during the meeting until the Chair closes the poll.

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To ask a question

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If you would like to ask a question:

Messaging:

1. Select the messaging tab icon.

2. Select the “Ask a question” box and compose your message.

3. Select the send icon.

4. You will receive confirmation that your question has been received.

The Chair will give all Shareholders a reasonable opportunity to ask questions and will endeavor to answer all questions at the meeting.

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Asking Audio Questions

1. Pause the broadcast before clicking on the link under “Asking Audio Questions”.

2. Enter the requested details and click “Submit Request” to join the audio questions queue.

3. The moderator will invite you to ask your question.

You will hear the meeting while you wait to ask your question. If you are asking an audio question and joining on your computer, please ensure that your computer has a microphone and is enabled for the meeting.

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Need help?

If you require any help using this system prior to or during the meeting, please call the share registry, Automic, on 1300 408 788 or +61 2 8072 1490 for assistance.

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Country codes

For overseas shareholders, select your country code from the list below and enter it into the password field.

ABW Aruba DOM Dominican Republic AFG Afghanistan DZA Algeria AGO Angola ECU Ecuador AIA Anguilla EGY Egypt ALA Aland Islands ERI Eritrea ALB Albania ESH Western Sahara AND Andorra ESP Spain ANT Netherlands Antilles EST Estonia ARE United Arab Emirates ETH Ethiopia ARG Argentina FIN Finland ARM Armenia FJI Fiji ASM American Samoa FLK Falkland Islands (Malvinas) ATA Antarctica FRA France ATF French Southern FRO Faroe Islands ATG Antigua & Barbuda FSM Micronesia AUS Australia GAB Gabon AUT Austria GBR United Kingdom AZE Azerbaijan GEO Georgia BDI Burundi GGY Guernsey BEL Belgium GHA Ghana BEN Benin GIB Gibraltar BFA Burkina Faso GIN Guinea BGD Bangladesh GLP Guadeloupe BGR Bulgaria GMB Gambia BHR Bahrain GNB Guinea-Bissau BHS Bahamas GNQ Equatorial Guinea BIH Bosnia & Herzegovina GRC Greece BLM St Barthelemy GRD Grenada BLR Belarus GRL Greenland BLZ Belize GTM Guatemala BMU Bermuda GUF French Guiana BOL Bolivia GUM Guam BRA Brazil GUY Guyana BRB Barbados HKG Hong Kong BRN Brunei Darussalam HMD Heard & Mcdonald Islands BTN Bhutan HND Honduras BUR Burma HRV Croatia BVT Bouvet Island HTI Haiti BWA Botswana HUN Hungary CAF Central African Republic IDN Indonesia CAN Canada IMN Isle Of Man CCK Cocos (Keeling) Islands IND India CHE Switzerland IOT British Indian Ocean Territory CHL Chile IRL Ireland CHN China IRN Iran Islamic Republic of CIV Cote D’ivoire IRQ Iraq CMR Cameroon ISL Iceland COD Democratic Republic of Congo ISM Isle of Man COK Cook Islands ISR Israel COL Colombia ITA Italy COM Comoros JAM Jamaica CPV Cape Verde JEY Jersey CRI Costa Rica JOR Jordan CUB Cuba JPN Japan CXR Christmas Island KAZ Kazakhstan CYM Cayman Islands KEN Kenya CYP Cyprus KGZ Kyrgyzstan CZE Czech Republic KHM Cambodia DEU Germany KIR Kiribati DJI Djibouti KNA St Kitts And Nevis DMA Dominica KOR Korea Republic of DNK Denmark KWT Kuwait

LAO Laos QAT Qatar LBN Lebanon REU Reunion LBR Liberia ROU Romania LBY Libyan Arab Jamahiriya RUS Russian Federation LCA St Lucia RWA Rwanda LIE Liechtenstein SAU Saudi Arabia Kingdom Of LKA Sri Lanka SCG Serbia & Outlying LSO Lesotho SDN Sudan LTU Lithuania SEN Senegal LUX Luxembourg SGP Singapore LVA Latvia SGS Sth Georgia & Sth Sandwich Islands MAC Macao SHN St Helena MAF St Martin SJM Svalbard & Jan Mayen MAR Morocco SLB Solomon Islands MCO Monaco SLE Sierra Leone MDA Republic Of Moldova SLV El Salvador MDG Madagascar SMR San Marino MDV Maldives SOM Somalia MEX Mexico SPM St Pierre And Miquelon MHL Marshall Islands SRB Serbia MKD Macedonia Former Yugoslav Rep STP Sao Tome And Principe MLI Mali SUR Suriname MLT Mauritania SVK Slovakia MMR Myanmar SVN Slovenia MNE Montenegro SWE Sweden MNG Mongolia SWZ Swaziland MNP Northern Mariana Islands SYC Seychelles MOZ Mozambique SYR Syrian Arab Republic MRT Mauritania TCA Turks & Caicos Islands MSR Montserrat TCD Chad MTQ Martinique TGO Togo MUS Mauritius THA Thailand MWI Malawi TJK Tajikistan MYS Malaysia TKL Tokelau MYT Mayotte TKM Turkmenistan NAM Namibia TLS Timor-Leste NCL New Caledonia TMP East Timor NER Niger TON Tonga NFK Norfolk Island TTO Trinidad & Tobago NGA Nigeria TUN Tunisia NIC Nicaragua TUR Turkey NIU Niue TUV Tuvalu NLD Netherlands TWN Taiwan NOR Norway Montenegro TZA Tanzania United Republic of NPL Nepal UGA Uganda NRU Nauru UKR Ukraine NZL New Zealand UMI United States Minor OMN Oman URY Uruguay PAK Pakistan USA United States of America PAN Panama UZB Uzbekistan PCN Pitcairn Islands VNM Vietnam PER Peru VUT Vanuatu PHL Philippines WLF Wallis & Futuna PLW Palau WSM Samoa PNG Papua New Guinea YEM Yemen POL Poland YMD Yemen Democratic PRI Puerto Rico YUG Yugoslavia Socialist Fed Rep PRK Korea Dem Peoples Republic ZAF South Africa PRT Portugal ZAR Zaire PRY Paraguay ZMB Zambia PSE Palestinian Territory Occupied ZWE Zimbabwe PYF French Polynesia

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WAM Alternative Assets Limited Notice of 2021 AGM

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All correspondence to: Online: https://investor.automic.com.au By mail: Automic GPO Box 5193 Sydney NSW 2001 By email: wilsonam@automicgroup.com.au By Phone: 1300 288 664 (Within Australia) +61 2 9698 5414 (Overseas)

Your vote is important

For your vote to be effective it must be recorded before 9:30am (AEDT) on Sunday 21[st] November 2021

 To vote online

Step 1: Visit https://investor.automic.com.au/#/loginsah

Step 2: Login & Click on ‘Meetings’

Step 3: Use the Holder Number as shown at the top of this Proxy Voting Form.

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By smartphone
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Scan QR Code using smartphone QR Reader App

To vote by completing the proxy and question form

Step 1 Appointment a proxy

Indicate who you want to appoint as your proxy.

If you wish to appoint the Chair of the Meeting as your proxy, mark the box. If you wish to appoint someone other than the Chair of the Meeting as your proxy please write the full name of that individual or body corporate. If you leave this section blank, or your named proxy does not attend the meeting, the Chair of the Meeting will be your proxy. A proxy need not be a securityholder of the Company. Do not write the name of the issuer Company or the registered securityholder in the space.

Appointment of a second proxy

You are entitled to appoint up to two proxies to attend the meeting and vote. If you wish to appoint a second proxy, an additional proxy and question form may be obtained by contacting the Company’s share registry or you may copy this form.

To appoint a second proxy you must:

(a) complete two proxy and question forms. On each proxy and question form state the percentage of your voting rights or the number of securities applicable to that form. If the appointments do not specify the percentage or number of votes that each proxy may exercise, each proxy may exercise half your votes. Fractions of votes will be disregarded.

(b) return both forms together in the same envelope.

Step 2 Voting directions to your proxy

To direct your proxy how to vote, mark one of the boxes opposite each item of business. All your securities will be voted in accordance with such a direction unless you indicate only a portion of securities are to be voted on any item by inserting the percentage or number that you wish to vote in the appropriate box or boxes. If you do not mark any of the boxes on a given item, your proxy may vote as he or she chooses. If you mark more than one box on an item for all your securities your vote on that item will be invalid.

Proxy which is a Body Corporate

Where a body corporate is appointed as your proxy, the representative of that body corporate attending the meeting must have provided an ‘Appointment of Corporate Representative’ prior to admission. An Appointment of Corporate Representative form can be obtained from the Company’s share registry online at https://automic.com.au.

Email Address

Please provide your email address in the space provided. By providing your email address, you elect to receive all communications despatched by the Company electronically (where legally permissible) such as a Notice of Meeting, Proxy Voting Form and Annual Report via email.

Step 3 Sign the form

The form must be signed as follows:

Individual: this form is to be signed by the securityholder.

Joint holding: where the holding is in more than one name, all the securityholders should sign.

Power of Attorney: to sign under a Power of Attorney, you must have already lodged it with the share registry. Alternatively, attach a certified photocopy of the Power of Attorney to this form when you return it.

Companies: this form must be signed by a Director jointly with either another Director or a Company Secretary. Where the company has a Sole Director who is also the Sole Company Secretary, this form should be signed by that person. Please indicate the office held by signing in the appropriate place.

Step 4 Lodgement

Proxy and question forms (and any Power of Attorney under which it is signed) must be received no later than 48 hours before the commencement of the meeting, therefore by 9:30am (AEDT) on Sunday 21 November 2021. Any proxy and question form received after that time will not be valid for the scheduled meeting.

Proxy and question forms may be lodged using the enclosed reply paid envelope or:

Online: https://investor.automic.com.au/#/loginsah

Login & Click on ‘Meetings’. Use the Holder Number as shown at the top of this Proxy Voting Form.

By mail: Automic GPO Box 5193 Sydney NSW 2001

In person: Automic Level 5, 126 Phillip Street Sydney NSW 2000 By email: meetings@automicgroup.com.au By Fax: +61 2 8583 3040

Your name and address

The name and address shown above is as it appears on the Company’s share register. If this information is incorrect, and you have an Issuer Sponsored holding, you can update your address through the investor portal: https://investor.automic.com.au/#/home . Shareholders sponsored by a broker should advise their broker of any changes.

Attending the meeting

Due to ongoing coronavirus restrictions, attendance in person will not be permitted at the meeting. To participate virtually, please refer to the AGM Online User Guide appended to the Notice of Meeting.

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ABN 47 168 941 704

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Proxy and question form

I/We being a member/s of WAM Alternative Assets Limited (Company) and entitled to attend and vote hereby appoint: the Chair of the Meeting (mark box)

OR if you are NOT appointing the Chair of the Meeting as your proxy, please write the name of the person or body corporate (excluding the registered shareholder) you are appointing as your proxy below or failing the individual or body corporate named, or if no individual or body corporate is named, the Chair of the Meeting as my/our proxy at the Annual General Meeting of the Company to be hosted online on Tuesday 23 November 2021 at 9:30am (AEDT) and at any adjournment of that meeting, to act on my/our behalf and to vote in accordance with the following directions or if no directions have been given, as the proxy sees fit. Chair of the Meeting authorised to exercise undirected proxies on remuneration related matters: If I/we have appointed the Chair of the Meeting as my/our proxy or the Chair of the Meeting becomes my/our proxy by default and I/we have not directed my/our proxy how to vote in respect of Resolution 1, I/we expressly authorise the Chair of the Meeting to exercise my/our proxy in respect of Resolution 1 even though Resolution 1 is connected with the remuneration of a member of the key management personnel for WAM Alternative Assets Limited. The Chair of the Meeting will vote all undirected proxies in favour of all Items of business (including Resolution 1). If you wish to appoint the Chair of the Meeting as your proxy with a direction to vote against, or to abstain from voting on an item, you must provide a direction by marking the 'Against' or 'Abstain' box opposite that resolution.

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Resolutions For Against Abstain
1. Adoption of Remuneration Report
2. Re-election of Director – John Baillie
3. Re-election of Director – Kym Evans
4. Approval of additional 10% placement capacity
If you mark the Abstain box for a particular item, you are directing your proxy not to vote on your behalf on a show of hands or on a poll and your vote will not be counted
in calculating the required majority if a poll is called.
Signature of Shareholders
This form must be signed to enable your directions to be implemented.
Individual or Securityholder 1 Securityholder 2 Securityholder 3
Sole Director and Sole Company Secretary Director Director / Company Secretary
Contact Name:
Email Address:
Contact Daytime Telephone Date (DD/MM/YY)
/ /
By providing your email address, you elect to receive all of your communications despatched by the Company electronically (where legally permissible).
Step 2 Voting Directions
Step 3 Signature of Shareholders
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Optional question for the Chairman or Auditor

We aim to provide shareholders with the best opportunity to ask questions about the Company and its external audit at the Annual General Meeting. We will seek to respond to as many of the frequently asked questions as possible.