Announcement PDF argoinvestments.com.au | 1 Net tangible asset (NTA) backing per share 31 July^ 30 June NTA per share1 $11.07 $10.84 NTA per share after unrealised tax provision2 $9.41 $9.25 Market commentary Australian shares made a solid start to the new financial year, with the S&P/ASX 200 Accumulation Index up +2.3%. Energy stocks led the way as oil prices rebounded amid a resumption of US/Iran hostilities and receding hopes that the Strait of Hormuz would reopen. In contrast, Technology was the worst performing sector, as another global AI sell-off weighed on sentiment. Since month-end, Australia’s share market has hit new highs. However, as the August corporate reporting season gets underway in earnest this week, we anticipate significant volatility at the individual stock level. This may generate opportunities for investors like Argo that take a long-term investment view. Last week, Argo reported full-year profit of $260.2 million and record annual dividends of 38.5 cents per share, fully franked. Argo also announced a move to quarterly dividends. For more: argoinvestments.com.au. $m % BHP 644.3 7.7 Macquarie Group 601.6 7.2 CBA 414.7 4.9 Rio Tinto 380.8 4.5 Wesfarmers 349.0 4.2 Westpac 318.1 3.8 ANZ 297.5 3.5 NAB 239.7 2.9 Aristocrat Leisure 238.0 2.8 Telstra 237.5 2.8 Santos 231.4 2.8 Technology One 198.4 2.4 QBE Insurance 197.6 2.4 CSL 191.4 2.3 Computershare 182.2 2.2 Origin Energy 149.6 1.8 Woodside Energy 140.7 1.7 Woolworths 134.4 1.6 Eagers Automotive 132.9 1.6 APA 128.4 1.5 Top 20 equity investments 5,408.2 64.6 Cash 104.0 1.2 Portfolio Sector diversification NTA & Investment Update July 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 before provision for the final dividend of 20.0 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 $8.3bn Shareholders 85,400 Dividend yield^ 4.3% MER 0.14% ^ Historical yield of 6.1% (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.