Announcement PDF argoinvestments.com.au | 1 Net tangible asset (NTA) backing per share 30 June^ 31 May NTA per share1 $10.84 $10.59 NTA per share after unrealised tax provision2 $9.25 $9.06 Market commentary Australian shares edged higher in June, with the S&P/ASX 200 Accumulation Index up +0.5%. Energy stocks declined sharply as oil prices fell in response to an interim deal between the US and Iran that moved to end hostilities in the Middle East and reopen the Strait of Hormuz. Health Care stocks led the Australian market, arresting the sector's recent poor performance. The Consumer Discretionary and Consumer Staples sectors also advanced strongly as lower oil prices and moderating inflation improved conditions. Pleasingly, Argo's NTA gained +2.4% for the month, well ahead of the broader Australian share market. For the six months to 30 June, Argo's NTA gained +7.1%, outperforming the Index by +4.7%. Argo Investments will report its full-year profit result on 5 August 2026. For more information, see the Key Dates section in our Shareholder Centre: argoinvestments.com.au/shareholder-centre. $m % BHP 634.5 7.7 Macquarie Group 595.0 7.2 Rio Tinto 385.2 4.7 CBA 384.6 4.7 Wesfarmers 354.8 4.3 Westpac 295.8 3.6 ANZ 282.8 3.4 Telstra 240.4 2.9 Aristocrat Leisure 227.5 2.8 NAB 219.6 2.7 Santos 212.8 2.6 QBE Insurance 201.3 2.4 Technology One 191.6 2.3 CSL 178.5 2.2 Computershare 170.3 2.1 Origin Energy 152.7 1.9 Woolworths 135.3 1.6 APA 127.7 1.6 Suncorp Group 123.1 1.5 Transurban Group 122.2 1.5 Top 20 equity investments 5,235.7 63.7 Cash 111.0 1.3 Portfolio Sector diversification NTA & Investment Update June 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 subject to audit. 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 $8.2bn Shareholders 85,600 Dividend yield^ 4.1% MER 0.14% ^ Historical yield of 5.9% (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.