Announcement PDF argoinvestments.com.au | 1 Net tangible asset (NTA) backing per share 28 February^ 31 January NTA per share1 $10.73 $10.54 NTA per share after unrealised tax provision2 $9.12 $9.04 Market commentary A largely positive, albeit volatile, Australian corporate reporting season propelled the share market to an all- time high in February. The S&P/ASX 200 Accumulation Index ended the month up +4.1%. Company results revealed robust earnings growth, with more than half of all companies exceeding analysts’ expectations. Share price gains were broad-based, although it was the Banks (+13.5%) and Materials (+9.0%) sectors that led the way. Since month-end, dramatic developments in the Middle East have rattled global markets. However, with many of the largest ASX-listed companies (notably supermarkets and the banks) generating the bulk of their revenue domestically, Australia’s share market may be relatively insulated from offshore shocks if volatility persists or the conflict escalates. $m % BHP 624.0 7.5 Macquarie Group 516.0 6.2 CBA 407.9 4.9 Rio Tinto 392.4 4.7 Westpac 372.1 4.5 ANZ 320.9 3.9 Wesfarmers 318.5 3.8 NAB 284.3 3.4 Telstra 251.3 3.0 CSL 220.8 2.7 Santos 199.5 2.4 QBE Insurance 191.0 2.3 Aristocrat Leisure 178.6 2.1 Technology One 169.5 2.0 Origin Energy 169.3 2.0 Computershare 151.9 1.8 Woolworths Group 139.7 1.7 Eagers Automotive 135.6 1.6 ALS 129.4 1.6 Transurban Group 129.1 1.6 Top 20 equity investments 5,301.8 63.7 Cash and cash equivalents 27.0 0.3 Portfolio Sector diversification NTA & Investment Update February 2026 Top 20 investments ƺ After all costs, including any tax payable. Ʊ As required under the ASX Listing Rules, theoretical NTA per share after providing for estimated tax on unrealised gains/ losses in the portfolio. That is, after tax that may arise if the entire portfolio was sold. ^ These figures are after provision for the interim dividend of 18.5 cents per share. argoinvestments.com.au | 2 This report has been prepared as general information only and is not intended to provide financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances before making any investment decisions. Past performance is no guarantee of future results. This announcement is authorised by Tim Binks, Company Secretary. Argo Investments Limited ACN 007 519 520 Shareholder benefits Low-cost, internally managed Internal management structure ensures low operating costs and no external fees Long-term and proven investment approach Resilience and growth through various market cycles and conditions for 80 years Experiencedboardandmanagement Highly experienced board and management team with strong governance and conservative culture Fully-franked, sustainable dividends Dividends paid every year since inception in 1946 and fully franked since 1995 Strong balance sheet with no debt A strong balance sheet and no debt allows a long-term approach to investing Diversified and administratively simple Exposure to a diversified portfolio of Australian equities through a single ASX trade About us ASX code ARG Founded 1946 Total assets $8.4bn Shareholders 87,100 Dividend yield^ 4.2% MER 0.14% ^ Historical yield of 6.0% (including franking) based on dividends paid/declared over the last 12 months. At a glance How to invest We are listed on the Australian Securities Exchange (ASX) under the ASX code ‘ARG’. To become a shareholder, simply buy shares through your stockbroker, online broker, financial adviser or platform. Company objective Maximise long-term shareholder returns through reliable fully franked dividend income and capital growth. Share registry enquiries BoardRoom Pty Ltd 1300 350 716 investorserve.com.au argo@boardroomlimited.com.au Company overview One of Australia’s oldest and largest listed investment companies (LICs), Argo actively manages a diversified portfolio of Australian shares with a low-cost, internally managed business model. Argo applies a conservative, long-term investment approach which has proven resilient since 1946.