Company Update and 2022 Annual Results 25 August 2022 Authorised by: Board of Navigator Global Investments Limited The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Introduction 1 2 3 4 5 6 Overview of current NGI Group business Lighthouse business review Review of recent investments Earnings drivers of today’s business FY 2022 Results Dividend and funding strategy 2 Overview of current NGI Group business Sean McGould, CEO 3 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Company Overview NGI is a diversified alternative asset management company with exposure to well established hedge funds, private and public credit strategies and real estate capital solutions We are dedicated to partnering with leading management teams who operate institutional quality alternative asset management businesses globally We leverage our investing and operating expertise to identify and partner with highly specialised firms with a strong growth outlook Our capital is primarily used to support our partners’ continued growth initiatives Our partners are proven investors and operators who have strong investment track records, have demonstrated substantial AUM growth and generate attractive cash flows over time Our primary focus is on scaled and developed businesses Established Diversified Scaled operations which have been tested over market cycles Uncorrelated strategies and multi- product businesses Global Aligned Investing and operating presence across the globe Shared philosophy and operating autonomy 4 4 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Today’s Value Proposition Navigator now has a highly diversified asset and earnings base, exclusively focused on the alternative asset management industry NGI Today Aggregate AUM ~ USD 61.2 billion1 Ownership Adjusted AUM ~ USD 22.9 billion1 Partner Firms 11 Each with multiple products and broad client base Investment Strategies > 30 across over 150+ products Single Strategy and Multi-strategy Hedge Funds Credit Strategies Real Estate Capital Solutions Hedge Fund Solutions Private Credit Structured Credit and Asset-backed Strategies Dyal Capital2 Through its partnership with Dyal Capital, a division of Blue Owl, Navigator receives Dyal’s support on growth initiatives, including ongoing support related to the acquired portfolio 1. AUM as at 30 June 2022 2. Dyal has over US$45 billion of AUM as of 30 June 2022 and has completed over 55+ partnerships with alternative asset managers; Source :https://www.blueowl.com/dyal-capital/ 5 5 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Highlights NGI is uniquely positioned to deliver earnings growth through a volatile and challenging market environment Strong investment performance and growth outlook High quality and growing earnings Market leading strategic partner Our partners’ strategies are generating strong investment returns in 2022 on both a relative and absolute basis Despite a very challenging global market environment, AUM has continued to grow to be $22.9 bn1 as at 30 June 2022 Increasing demand for well established and proven alternative investment managers Stable and diversified earnings base across 10 global businesses operating at scale and with strategies that have low correlation Embedded earnings growth in the NGI Strategic Portfolio and recent acquisitions Strong alignment and engagement with long term strategic shareholder Dyal Capital, a division of Blue Owl, a global leader in partnering with alternative asset managers2 1. As at 30 June 2022 on an ownership-adjusted basis. 2. Dyal has over US$45 billion of AUM as of 30 June 2022 and has completed over 55+ partnerships with alternative asset managers; Source :https://www.blueowl.com/dyal-capital/ 6 6 6 Lighthouse business review Sean McGould, CEO 7 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Lighthouse Investment Partners Diversifying and expanding product mix in key growth areas Evolving our brands and product offering 14.4 billion Firm level AUM Track record 25+ years 188 Employees Investors 1000+ worldwide Multi-PM Hedge Funds USD 4.4 billion1,2 Hedge Fund Solutions USD 9.5 billion1,2 Managed Account Services USD 11.1 billion1,3 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ North Rock’s multi-portfolio manager (multi-PM) hedge fund product remains a focus of our global distribution efforts Mission Crest is a multi-PM, global macro hedge fund which is now open for external capital Continued product development underway for new hedge funds Commingled multi-strategy & long/short equity Strategic partnerships and custom funds Sector/regional specialist strategies in healthcare, Asia and Europe Delivered competitive investment returns in FY22 Managed Account Services AUM continued growth with high quality global client base Recent wins expected to scale over time Offerings will remain flexible to meet demand and deepen client relationships 1 2 3 AUM as at 30 June 2022 Hedge Funds AUM reflects the assets of the Mission Crest strategy (Mission Crest Master) and the NorthRock strategy (NR 1). A portion of Hedge Funds AUM comes from investments from Lighthouse Funds (also counted under Hedge Fund Solutions AUM) and thus will not tie out to the total Firm AUM. Managed Account Services AUM reflects the assets of all managed accounts, inclusive of Lighthouse and its advisory affiliates 8 8 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Lighthouse Investment Partners AUM as at 30 June 2022 Total AUM Composition . 2 4 1 8 . 1 1 . 9 3 1 . 4 4 1 3 . 1 1 s n o i l l i b D S U June 2018 June 2019 June 2020 June 2021 June 2022 Pensions 52% Sovereign Wealth Funds 14% Investor Type Individuals 11% Endowments / Foundations 9% Employees 2% Financial Institutions 6% Other Institutions 6% Americas 71% Investor Geography Middle East 14% Europe 10% Asia- Pacific 5% Movements for the 2022 financial year 30 June 2021 Net Flows Performance 30 June 2022 Note 1 Note 2 & 3 Note 3 Multi-PM Hedge Funds USD 1.68 bn ▲ USD 0.83 bn ▲ USD 0.08 bn USD 2.59 bn Commingled Funds USD 2.94 bn ▼ USD 0.51 bn ▲ USD 0.01 bn USD 2.44 bn Customised Solutions USD 4.16 bn ▼ USD 0.48 bn ▲ USD 0.06 bn USD 3.74 bn Managed Account Services USD 5.15 bn ▲ USD 0.20 bn ▲ USD 0.29 bn USD 5.64 bn Combined total USD 13.93 bn ▲ USD 0.04 bn ▲ USD 0.44 bn USD 14.41 bn 1 2 3 Net flows includes monies received for applications and any redemptions effective 1 July 2022. This convention in relation to the reporting of net flows and AUM has been consistently applied by the NGI Group since January 2008. Performance includes investment performance, market movements, the impacts of foreign exchange on non-US denominated AUM and distributions (if any). 30 June 2022 AUM is based on performance estimates which may be subject to revision upon final audit. AUM may include transfers from other Commingled Funds that occurred on the first day of the following month. 99 Lighthouse Investment Partners Strong relative investment performance through recent volatile markets 30 June 2022 performance estimates for select Lighthouse Funds 3 month Calendar Year to date 3 year 5 year 3 year volatility Hedge Fund Solutions Lighthouse Diversified Fund Limited Class A -0.40% 1.04% 4.65% 3.72% 12.02% Lighthouse Global Long/Short Fund Limited Class A -0.09% 0.19% 8.48% 6.57% 7.90% Multi-PM Hedge Funds North Rock, LP (Series A) Mission Crest Macro Fund, LP1 (Class A) Indices 0.74% 2.83% 12.22% 10.24% 7.13% 5.49% 8.46% 14.62% N/A 5.90% Hedge Fund Research HFRX Global Hedge Fund Index -3.75% -5.05% 3.09% 1.94% 5.43% Hedge Fund Research HFRX Equity Hedge Index -4.44% -4.72% 5.30% 3.51% 8.67% S&P 500 TR Index -16.10% -19.96% 10.60% 11.31% 18.64% MSCI AC World Daily TR Gross USD -15.53% -19.97% 6.70% 7.53% 18.02% Barclays US Agg Gov/Credit Total Return Value Unhedged USD -5.03% -11.05% -0.77% 1.05% 5.30% 91-Day Treasury Bill 0.11% 0.14% 0.63% 1.11% 0.27% 1 Returns for the period March 1, 2019 to March 31, 2021 reflect the net returns of MAP 240 Segregated Portfolio, a segregated portfolio of LMA SPC, (“MAP 240”) assuming a 0.00% annual management fee and a 15.00% annual performance fee based on the inception of trading (March 2019) as described below. Returns are also net of an assumed 0.15% of estimated annual operating expenses attributable to a master feeder structure. ‐ Performance may vary among different share classes or series within a Fund. Past performance is not indicative of future results. This information has been prepared by Navigator Global Investments Limited (NGI) for releasetotheAustralianSecuritiesExchangeandisnotintendedfordistributionto,oruse by, any person in any jurisdiction where such distribution or use is prohibited by law or regulation.Thisinformationisneitheranoffertosellnorasolicitationofanoffertopurchase any securities. Such an offer will only be made to qualified purchasers by means of a confidentialprivateplacementmemorandumorrelatedsubscriptiondocuments. Fund performance figures are unaudited and subject to change. The performance data represents the returns for each of the respective Lighthouse Funds, or any related predecessor Fund, net of all fees and expenses, including reinvestment of all dividends, income and capital gains. Performance shown for periods over one year has been annualised. TheperformancedatafortheselectedClassAsharesoftheaboveLighthouse FundsispresentedasarepresentativeproxyforthetwomaininvestmentstrategiesofAUM invested in Lighthouse Funds. Returns may vary between different Funds of a similar strategy,aswellasbetweenshareclassesorserieswithinthesameFund. Theindicesincludedareunmanagedandhavenofeesorexpenses. Aninvestmentcannot be made directly in an index. The Lighthouse Funds consist of securities which vary significantlytothoseintheindices. Accordingly,comparingresultsshowntothoseofsuch indicesmaybeoflimiteduse. Hedge Fund Research HFRX Global Hedge Fund Index: ThisHFRXGlobalHedgeFundIndex isdesignedtoberepresentativeoftheoverallcompositionofthehedgefunduniverse. Itis comprised of all eligible hedge fund strategies; including but not limited to convertible arbitrage, distressed securities, equity hedge, equity market neutral, event driven, macro, mergerarbitrage,andrelativevaluearbitrage. Thestrategiesareassetweightedbasedon thedistributionofassetsinthehedgefundindustry. Hedge Fund Research HFRX Equity Hedge Index: ThisHFRXEquityHedgeIndexmeasures theperformanceofthehedgefundmarket.Equityhedgestrategiesmaintainpositionsboth long and short in primarily equity and equity derivative securities. A wide variety of investmentprocessescanbeemployedtoarriveataninvestmentdecision,includingboth quantitativeandfundamentaltechniques;strategiescanbebroadlydiversifiedornarrowly focused on specific sectors and can range broadly in terms of levels of net exposure, leverageemployed,holdingperiod,concentrations ofmarketcapitalizationsandvaluation rangesoftypicalportfolios. S&P 500 TR Index: Thisindexincludes500leadingcompaniesinleadingindustriesoftheUS economy. Althoughthe S&P500® focuses on the large-cap segment of themarket, with approximately75%ofcoverageofUSequities,itisalsoanidealproxyforthetotalmarket. S&P500ispartofaseriesofS&PUSindicesthatcanbeusedasbuildingblocksforportfolio construction. MSCI AC World Daily TR Gross USD: Afreefloat-adjustedmarketcapitalizationweighted index that is designed to measure the equity market performance of developed and emergingmarkets. TheMSCIACWIconsistsof45countryindicescomprising24developed and21emergingmarketcountryindices. Barclays US Agg Gov/Credit Total Return Value Unhedged USD: Anunmanagedmarket- weightedindex,comprisedofgovernmentandinvestmentgradecorporatedebtinstruments withmaturitiesofoneyearorgreater. 91-Day Treasury Bill: Ashort-term debt obligation backed by the US government with a maturity of 91 days. T-bills are sold in denominations of USD1,000 up to a maximum purchase of USD5 million and commonly have maturities of one month (28 days), three months(91days),sixmonths(182days),or1year(364days). 10 Review of recent investments Ross Zachary, MD of Strategic Corporate Development 11 18 months of growth through quality acquisitions NGI has completed strategic acquisitions which have diversified the Group and will drive earnings growth in the years to come NGI Strategic Portfolio Acquisition Strategic Investments in Longreach and GROW 8 - 25% underlying ownership across an uncorrelated portfolio with high potential earnings yield and growth prospects Proven market leaders in quantitative strategies, global commodities, derivatives and a broad set of public and private credit and asset backed strategies < 10 - 34% ownership in strategic affiliates with attractive long term growth outlook and strategic synergies with the Group High quality and incentivised leadership teams building market leading alternative asset management firms in the high localised markets of Australia and mainland China Acquisition of strategic passive minority stakes in Marble Capital and Invictus Capital Partners 16.8 – 18.2% ownership interests in growing private credit and real estate related managers Established and fast-growing firms with high quality of earnings through primarily closed end fund structures, strong existing management teams and leadership positions in their respective specialties, each with high barriers to entry and strong investor demand Established a long-term strategic partnership with Dyal Capital, a division of Blue Owl1 2021 2022 1. Dyal has over US$45 billion of AUM as of 30 June 2022 and has completed over 55+ partnerships with alternative asset managers; Source :https://www.blueowl.com/dyal-capital/ 12 12 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Overview of NGI Strategic Portfolio Scaled and uncorrelated portfolio comprised of well established specialised firms that are recognised as leaders in their respective strategies Overview of firms AUM1 (USD) Founded Headquarters Strategy $6 billion 1981 New York, USA $9 billion 2004 New York, USA $10 billion 1991 Paris, France $3 billion 1995 New York, USA $5 billion 2003 New York, USA $11 billion 2008 New York, USA Bardin Hill is a leading investment firm with core competencies in public and private credit, collateralised loan obligations, and event-driven equities Capstone is a global, alternative investment management firm operating across a broad range of derivatives-based strategies with a deep understanding of volatility CFM is a global quantitative and systematic asset management firm applying a scientific approach to finance. MKP is a discretionary global macro strategy that uses a top-down fundamental approach to identify and exploit economic and financial imbalances in asset markets to produce strong risk adjusted returns Pinnacle is a global commodities specialist platform with exposure to energy, metals, and agriculture sectors Waterfall is an institutional asset manager with a relative value approach focused on high-yield asset backed securities and loan investments and private equity investments 1. Estimated Firm Level AUM as at 30 June 2022 13 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Overview of NGI Strategic Portfolio A two-stage transaction in which NGI purchased minority ownership stakes in six well established and uncorrelated alternative asset management businesses from funds managed by Dyal Capital, a division of Blue Owl (“Dyal”) Transaction Overview 1 Acquisition of preferred minimum annual distributions for $166 million in NGI ordinary shares and convertible notes FY 2021 – FY 2025 In February 2021, NGI received annual Preferred Minimum Distribution Amount (“PMDA”) to be paid to NGI FY 2021 – 2025 in exchange for ordinary shares and notes equaling $166.1 million ($63.8 million in ordinary shares and $102.3 million of dividend bearing convertible notes) ‒ PMDA of $17.0 million for FY 2021, increasing 3.0% per annum to be $19.1 million in FY 2025, with a cumulative catch up in the case of any shortfall ‒ Through FY 2025, NGI and Dyal share profit distributions above the PMDA, 20% to NGI and 80% to Dyal The transaction established a long-term strategic partnership with Dyal, including aligning interest with them as a long term, strategic shareholder with no liquidity requirement for their underlying investors ‒ As part of this partnership Dyal agreed to continue to provide portfolio monitoring support and access to industry leading Dyal Business Services Platform focused on increasing long term enterprise value at no cost to NGI 2 Acquisition of profits retained by Dyal for cash, calculated by an agreed formula based on financial performance of the portfolio FY 2026 After 31 December 2025, Navigator will acquire the remaining profits in the NGI Strategic Portfolio profits The redemption price will be calculated as: ‒ 2.25x the average portfolio profits generated above the PMDA calendar year 2021 – 2023, plus ‒ 2.25x the average portfolio profits generated above the PMDA calendar year 2024 – 2025 This redemption price is held on our balance sheet and estimated every fiscal period, depending on the performance of the portfolio NGI will own 100% of NGI Strategic Portfolio profits starting 1 July 2025, providing NGI with a meaningful step-up in total group earnings and cash flow 14 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. NGI Strategic Portfolio – Metrics The NGI Strategic Portfolio (the “Portfolio”) provides a stable and growing earnings stream through FY 2025 Portfolio Assets Under Management1 Ownership-adjusted AUM Since Acquisition AUM growth driven by both investment performance and inflows Portfolio has experienced strong AUM growth since acquisition on 1 February 2021 . 9 7 3 . 8 7 3 . 2 3 3 . 6 3 4 . 9 8 3 s n o i l l i b D S U 7 . 7 +17% s n o i l l i b D S U 6 . 6 June 2018 June 2019 June 2020 June 2021 June 2022 1 February 2021 30 June 2022 Results Since Acquisition Illustrative FY23 – FY25 Profit Sharing USD millions USD millions Profit Distributions 70.8 42.6 10.7 17.5 NGI Total 28.2 28.9 9.5 2.4 17.0 NGI Total 19.4 FY 2021 FY2022 Dyal’s Retained Share of Excess (80%) NGI’s Share of Excess (20%) NGI Minimum Annual Distributions 1. Portfolio firm level AUM is not ownership adjusted. NGI PDMA NGI Share of Excess NGI Total 30m case 70m case 30m case 70m case FY 2023 18.0 FY 2024 18.6 FY 2025 19.1 Average 18.6 2.4 2.3 2.2 10.4 10.3 10.2 20.4 20.9 21.3 20.9 28.4 28.9 29.3 28.9 15 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. NGI Strategic Portfolio - Redemption Payment Scheduled acquisition of Dyal’s remaining share of portfolio profits in 2026 using an agreed upon purchase price formula 2026 Redemption payment 2.25 2.25 Redemption Payment Price CY2021 – CY 2023 Average of Earnings above the Preferred Minimum Distribution Amount Expected Timing: Calculated by 31 March 2024 Paid by 30 April 2026 CY2024 – CY 2025 Average of Earnings above the Preferred Minimum Distribution Amount Calculated by 31 March 2026 Paid by 30 April 2026 Illustrative Examples1 Funding Discussion If the redemption payment were to remain at the level currently held on our balance sheet, that would imply very strong financial performance through FY 2025 Funding of the redemption payment will depend on the ultimate size of the payment, with substantial time for planning Avg. Calendar Year Annual Earnings for CY2021-2025 Implied increase to NGI Strategic earnings in FY2026 Illustrative payment at settlement (undiscounted)1 Implied multiple $30 m $8.7 m $92 m 10.6 x - - - $70 m $40.7 m $200 m Max. Payment 4.9x Due to the agreed upon formula, the redemption payment amount will be reasonably estimable by early 2025 NGI Group earnings through FY2025 are expected to increase due to recent investments, providing additional cash flow to help fund the payment and finance the company NGI will begin earning this increased share of profit distributions on 1 July 2025 Current borrowing facility with long term lender matures 30 June 2025 1. Estimate of payment amount is based on CY2021 actual earnings and illustrative earnings of $30m and $70m for CY2022-2025 respectively 16 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Investment in Marble Capital Proven investment capacity and capital raising momentum with unique return profile in a hard-to-access market Firm Overview Transaction Overview USD 1.6 bn AUM as at 30 June 2022 Real Estate Capital Solutions for multifamily real estate developers and operators across the US Growth Since inception in 2016, invested capital in ~28,0001 multifamily units equal to ~$5.81 billion in total capitalisation in 43 unique markets (92% suburban and 75% sunbelt), primarily sourced through repeat partners1 Deep Experience Management team has 150+ years of combined experience in real estate finance, capital markets, development and operations Sourcing advantage Deep relationships with network of experienced sponsors (developers) cultivated over 30 years and strengthened though deploying capital since 2016 Target returns Approach Criteria Sourcing Investment Strategy Target preferred equity investments up to 70-75% LTV, protecting capital while delivering attractive returns and some upside participation Attractive fixed rates of ~12-14% generating equity-like returns for debt-like risk Selectively, will also invest in common equity positions with highly experienced sponsors targeting 20%+ IRRs Focused on identifying those projects being developed by well-respected developers that present an attractive cost basis in the highest quality locations within high growth markets $5-20m investment size is typically below the radar of most institutions, and yet too large for high-net- worth syndicates Off-market direct deal flow with no auction process results in attractive terms and repeat sponsors (developers) 1. As at 31 March 2022 Closing May 2022 Interest Acquired 16.8% Earnings Drivers Management fees on closed-end funds, origination fees paid by developers, return on GP investment, carried interest Consideration $85 million total Consideration $64 million Primary $21 million Secondary Remaining secondary payments scheduled to be made on pro rata basis at first and second anniversaries of the transaction Comments on Current Market Conditions Demand for preferred equity today is high as lenders have pulled back significantly on loan proceeds, creating a large gap in developers’ capital stacks Marble is uniquely positioned to attract highest quality opportunities given developer network and proven streamlined process, known expertise and capital to deploy Existing and target investments have a substantial buffer to any asset price declines; <65% average LTV, 13% coupon Marble’s equity investments (25% of recent portfolios) are generally underwritten to achieve 20%+ IRRs in conservative monetization scenarios Housing affordability challenges generally have increased demand for rentals In addition, demographic shifts and housing supply glut continue to incentivise high quality developers to start new projects Large institutional investors continue to increase allocations to the multifamily asset class, creating buyers for projects in Marble’s target universe 17 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Investment in Invictus Capital Partners Deep client relationships and ability to invest tactically across market segments and generate strong uncorrelated returns Firm Overview Transaction Overview USD 2.3 bn AUM as at 30 June 2022 Private Lending Strategies into inefficient areas of the US residential mortgage and commercial real estate markets Growth Cumulative loan acquisitions in excess of US$18 billion1 through over 300 independent mortgage originators and completed 34 securitisations2 Deep Experience Founding members have an average of over 20 years experience, with deep experience in mortgage origination, finance, trading, capital markets and risk management Sourcing Advantage Formed Verus Mortgage Capital in 2015 to source, review and settle mortgages; has been the largest issuer of non-qualified mortgage/expanded agency securitisations since the beginning of 2015 Closing August 2022 Interest Acquired 18.2% (9.1% of Carried Interest) Earnings Drivers Management fees on closed-end funds and separately managed accounts, fees related to mortgage acquisition and securitization activity, return on invested GP capital, carried interest Consideration $100 million total consideration $75 million Primary $25 million Secondary Payment of $25m Secondary to be made on or after the first anniversary of the transaction subject to meeting certain revenue thresholds, or on the third anniversary of the transaction if such thresholds are not met Investment Strategy Comments on Current Market Conditions Target returns Approach Criteria Private funds that target mid-teens IRRs by acquiring newly originated mortgage loans Identify inefficient real estate credit markets and employ a rigorous, research-based investment, financing and asset management approach designed to minimise risk while maximizing returns to investors Focus on high quality mortgages that are not eligible for US Government guarantees due to size (e.g. >$1 million), ownership (e.g., investor owned, rentals, second home), borrower income type (e.g., self employed) or other disqualifying factors that can be underwritten and due diligenced Sourcing Loans acquired through captive infrastructure to source, manage and finance attractive loans at scale and finance these loans through securitization and term repurchase facilities Rising rate environment has created higher return opportunities given lowered competition in target markets and high coupon loans available Invictus targets whole loans that it believes provide a significantly more attractive yield and lower interest rate duration than traditional high quality fixed income alternatives Financial buyers have retreated, improving Invictus’ access to high quality loans at attractive prices Real estate lending markets remain inefficient with reduced overall credit availably for many creditworthy borrowers since the GFC Invictus’ long term track record and established financing relationships have allowed them to continue to access the securitization markets through 2022 Deep financing relationships and daily loan pricing and acquisition mitigate certain market related risks inherent in acquiring and securitizing mortgage loans 18 18 1. 2. At at 31 March 2022 Simultaneous with Navigator’s investment, Dyal provided financing to Invictus through its long-term financing fund Earnings drivers of the business Ross Zachary, MD of Strategic Corporate Development Amber Stoney, CFO 19 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Building Blocks of Our Recent Investments NGI has added high quality and unique earnings streams, each with significant upside and growth potential NGI Strategic Portfolio Marble Capital and Invictus Capital Partners Total Illustrative Base Earnings Low High Low High Low High $7.5 – $8.0 $0.7 – $0.8 $8.2 – $8.8 104 25% – – 106 222 – 228 115 – 116 30% 35% – 45% 27% – 32% $20 – $25 $5 – $8 $25 – $33 Management fee driven earnings across six businesses operating over 130 products across 25 strategies and over $40 billion of aggregate AUM Contribution largely from incentive fees, but may include carried interest, returns/distributions from GP investment and increases in ancillary or one time fee revenues Management fees on capital committed to and invested in closed end funds plus certain transaction related fees generated by capital deployment Contribution from incentive fees, carried interest, returns/distributions from GP investment and increases in ancillary or one time fee revenues Fee earning, ownership adjusted AUM (USD billions) Indicative Base Revenue Yield (bps) Indictive Base Profit Margins (%) Illustrative Base Pre- Tax Profits (USD millions) Description of Base earnings Description of Upside Potential earnings Excluding new funds, adjacent products and potential capital appreciation, where applicable Indicative estimates based on CY21 results Represents recent or current margins, no expected major investment or expense increases known at this time Margins on excluded carried interest and incentive fees, when received, are >50% from NGI Strategic and 100% for Marble and Invictus I S G N N R A E E S A B E V T A R T S U L L I I I E D S P U Information on this slide has been presented for illustrative purposes only to provide an understanding of the key drivers of earnings of the various investment entities held by NGI. The assumptions used to outline the earnings are estimates drawn from recent historical data for each of the underlying managers. Changes to future earnings can be impacted by general market conditions, as well as changes to the operations of individual managers such as changes in AUM, product mix, management fee rates and operating margins. Changes in any of these factors may cause actual results to vary from the illustrative scenarios outlined. Distributions earned by NGI are subject to the timing of profit distributions made to each individual manager, and for the NGI Strategic Portfolio, the PMDA profit sharing arrangement until FY2025. 20 20 Illustrative Base Earnings excludes any earnings attributable to ownership in Longreach Alternatives and GROW Investment Group The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Breakdown of Group Base Adjusted EBITDA Excluding Upside from performance fees, excess above PMDA, carried interest and other potential transaction-based income FY 2022 FY 20231 Lighthouse $18.1 million $18.0 million - I S G N N R A E E S A B NGI Strategic $15.0 million $22.5 million ▲50% Other Group costs Base Adjusted EBITDA ($3.1 million) ($2.0 - 4.0 million) - $30.0 million $36.5 - 38.5 million ▲25% FY23 expected to be flat, reflecting current AUM at slightly lower revenue yields, and small margin improvement from expense management FY23 includes $18.0 million NGI Strategic PMDA, and $7.0 from Marble and Invictus distributions (mid point of building blocks) less $2.5m direct staff and other admin costs Cost primarily include corporate overheads, and finance income/expenses such as FX gains/(losses). 1. The above guidance represents Navigator’s current expectations for certain components of Adjusted EBITDA for FY2023. Results are subject to a number of variables, including the timing of distributions from NGI Strategic investments. 21 21 Base result for FY2023 Adjusted EBITDA primarily comprise management fee driven earnings from our highly diverse assets The “upside” earnings are largely related on performance-based revenue, and as such it is difficult to accurately predict what this may be for FY2023 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Our Growth Strategy is Delivering Creating a larger, more stable and growing portfolio of assets Diversification Highly Visible Revenue Added exposure to the uncorrelated returns and strong growth outlook of additional sectors within alternative asset management Introduced high quality earnings driven by private equity style funds (e.g., closed-end funds) with no redemption risk and highly visible fixed rate fees Upside from Carried Interest Gained earnings upside from high margin carried interest from multiple existing portfolios Long Term Investor Horizon New assets have limited potential risks of outflows or short-term behavior of investor due to short term fund performance or outside market contentions Capture Proven Growth Support Future Growth Capture more of secular growth across the alternative asset management sector, specifically from proven and recognised firms who have differentiated themselves as leaders in their respective strategies Contribute to our future earnings and add to diversification of our earnings, therefore improving the ability to finance existing and future growth indicatives 22 2022 financial results Amber Stoney, CFO 23 2022 financial results The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. AUM growth of 9% over the financial year reflects organic growth as well as contribution from acquired minority stakes Adjusted EBITDA showed significant growth this year, largely attributable to a full year of NGI Strategic Portfolio distributions, which were also significantly above expectations This is reflected in the 22% increase to Adjusted revenue & other income Recent significant acquisitions led to a review of the Group’s dividend policy, with FY22 dividend payout ratio adjusted down to 52%1 USD 22.9 bn USD 46.5 m ▲ 9% pcp ▲ 68% pcp Ownership adjusted AUM Adjusted EBITDA2 USD 113.0m ▲ 22% pcp USD 8.5 cents per share ▼ 11% pcp Adjusted revenue & other income3 Reflects revised dividend policy 1. Revised divided payout ratio of 50-60% of FY22 adjusted EBTIDA announced 4 August 2022 2. Non-IFRS measure. EBITDA is adjusted to exclude non-cash changes in fair value of assets and liabilities, non-recurring transaction costs and to add back cash lease payments not recognised as expenses under AASB16 3. Non-IFRS measure. Revenue is adjusted to exclude fund expense reimbursements, sundry revenue related to the provision of serviced office space, non-recurring transaction costs and to add back cash lease payments not recognised as expenses under AASB16 24 24 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Navigator Group Results Annual result 2022 Adjusted EBITDA of USD 46.5 million Statutory USD millions - f f o f o g n i t t e N d n a e u n e v e r g n i t t e s s e s n e p x e Excluded from Adjusted USD millions (unaudited) s s e e g s n n e a p h x c e e u a v s e i t i l i e s a e t o n b a f o n i l i l l h s a C s t n e m y a p g n i t a r e p o d e s i l a e r n U r i a f d n a e h t n i s t e s s a Adjusted (unaudited, non-IFRS measure) USD millions g n i r u c e r - n o N s t s o c n o i t c a s n a r t Management fees Performance fees Reimbursement of fund operating expenses Revenue from provision of serviced office space Net distributions from NGI Strategic investments Share of profits from joint ventures and associate entities Total revenue & other income Operating expenses Result from operating activities Net finance income/(costs), excluding interest Non-operating expenses EBITDA 73.5 10.6 42.6 2.6 28.8 0.1 158.2 (106.3) 51.9 0.4 (1.1) 51.2 (42.6) (2.6) (45.2) 45.2 - - - (3.4) (3.4) - (2.4) (3.4) (2.4) 1.1 1.1 73.5 10.6 - - 28.8 0.1 113.0 (64.5) 48.5 (2.0) - 46.5 These revenue items are a direct reimbursement of expenses incurred and on-charged to other parties at no mark-up. They have been off-set directly against expenses in the presentation of “Adjusted EBITDA”. Following the adoption of AASB 16 Leases, the office lease component of occupancy expense is recognised below the EBITDA line as a financing activity. The net cash lease payments of $3.4 million made during the year are adjusted against EBITDA so that it represents a closer measure of the annual cash operating cost associated with the Group’s various office premises leases. 1 Gains and losses associated with financial assets and liabilities measured at fair value through profit and loss primarily relate to NGI Strategic Portfolio investments and the associated redemption liability. These fair value movements are adjusted as they are unrealised. Excludes net finance income / (costs) including interest, depreciation of fixed assets and amortisation. These items have been excluded so as to present the expenses and result arising from the Group’s core operating activities. Includes net transaction costs associated with the Marble Capital transaction completed during the period which were expensed to the profit and loss, as well as non-recurring expenses associated with exploring sources of debt and securing an increase in the Line of Credit facility. 25 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Navigator Group Results Annual result Adjusted EBITDA up 68% on pcp (Unaudited, non-IFRS measure) Management fees revenue Performance fee revenue Net distribution from strategic investments Share of profits from JVs and associates Total revenue Employee expenses Professional, consulting and IT Other operating expenses Total operating expenses Result from operating activities Non-operating expenses Net finance income (excluding interest) Adjusted EBITDA (unaudited, non-IFRS measure) 30 June 2022 USD millions 30 June 2021 USD millions Change to pcp 73.5 10.8 28.8 0.1 113.0 (50.7) (5.7) (8.1) (64.5) 48.5 - (2.0) 46.5 75.6 13.5 3.7 - 92.8 (47.9) (8.4) (7.1) (63.4) 29.4 (0.6) (1.1) 27.7 ▼3% ▼21% ▲678% ▲100% ▲22% ▲6% ▼32% ▲14% ▲2% ▲66% ▼100% ▲82% ▲68% Operating margin 41% 30% 26 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Key revenue items Management fees $73.5 million (▼ 3% pcp) Management fees (USD millions) 73.5 Earned from Lighthouse operating business, management fee revenue has remained steady due to two off-setting factors: Average management fee rate %pa . 7 7 3 . 9 7 3 . 2 7 3 . 3 6 3 H1 2021 H2 2021 H1 2022 H2 2022 Average AUM for 2022 was $14.1 billion, an 8% increase on the prior year. The average management fee rate for 2022 was 0.52%pa, a 10% reduction to the prior year. % 2 6 0 . % 5 5 0 . % 3 5 0 . % 1 5 0 . H1 2021 H2 2021 H1 2022 H2 2022 Performance fees Performance fees (USD millions) 10.6 . 8 9 8 3 . 8 8 . $10.6 million (▼ 21% pcp) The financial year delivered solid performance fees of $10.6 million (FY21: $13.5 million). Whilst investment performance in FY2022 was not as strong as the in the prior year, the performance fees earned reflects a growing set of investment options offered by Lighthouse which are able to earn a performance fee. 8 . 1 We expect an increase in future performance fee earning potential, given the anticipated growth in the Multi-PM Hedge Funds which have performance fee structures, however actual performance fees earned in any year are dependent on investment returns. H1 2021 H2 2021 H1 2022 H2 2022 Performance fees are variable in nature, and it is difficult to forecast how much, if any, performance fee revenue will be earned by the Group in future periods NGI Strategic distributions $28.8 million (▲ 678% pcp) 28.2 . 5 7 1 . 0 7 1 . 7 0 1 4 2 . . 5 9 FY2022 FY2021 Allocation of distributions under NGI Strategic Portfolio profit share . 6 2 4 Preferred Minimum Distribution Amount $28.2 million (before allocation of agreed shared expenses) earned from the $70.8 million of gross distributions received from NGI Strategic Portfolio, which was significantly higher than expected based on historical distributions Navigator share of excess $0.4 million of additional distributions received from other investments Dyal share of excess 27 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Key net operating expense items 30 June 2022 USD millions 30 June 2021 USD millions Change to pcp Employee expenses Professional & consulting & IT Other operating expenses Net operating expenses 50.7 5.7 8.1 64.5 47.9 8.4 7.1 63.4 ▲6% ▼32% ▲14% ▲2% Impact of ‘pass through’ expense model Reimburseable fund revenue & expenses (USD millions) . 6 2 4 1 . 7 . 0 7 1 Employee expenses $50.7 million (▲6% pcp) FY 2020 FY 2021 FY 2022 Increase to employee costs was largely due to higher variable compensation in FY2022. This was driven by highly competitive labour market conditions in the US. Professional and IT costs $5.7 million (▼32% pcp) The Group utilises a number of expert consultants across its business, in particular to provide specialist assistance and support in technology, legal, managed account services and investment process. The implementation of the pass through model is the key driver in the reduction in these costs incurred by NGI Other expenses $8.1 million (▲14% pcp) Other operating expenses, including occupancy, travel, insurance and other administrative costs. Increases in costs occurred across a range of areas, none of which were individually significant. Includes $3.4m cash lease expense (2021: $3.3 million). Since 1 January 2021, Lighthouse has been rolling out the implementation of a pass through expense model across relevant funds. This pass through model fee structure is now common as compared to legacy fee structures which traditionally charged a 1.5-2.0% management fee plus a 15-20% performance fee. As the relevant products obtain sufficient scale, Lighthouse is able to establish fund share classes which have a low or nil management fee, a performance fee and which can receive pass through fund operating expenses. These fund operating costs can include the compensation cost of dedicated staff (such as portfolio managers) as well as external services and consulting expenses. In practice, these costs are paid by Lighthouse and are then reimbursed by the funds. In the 18 months since implementation of this pass through model across select Multi-PM Hedge Funds, there has been a significant increase in the “fund reimbursable” revenue and expense being recognised in the Income Statement on a gross basis. There continues to be a net nil impact to earnings. 2828 Utilising the balance sheet to support acquired Annual result growth The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. USD millions Cash Receivables Investments Intangibles Other assets Total assets Trade payables Lease liabilities Deferred consideration Payable over 3 years FV of redemption liability due 2026 Other liabilities Total liabilities Net Assets Jun-20 Jun-21 Jun-22 Proforma Jun-223 27.0 16.0 14.7 94.5 75.3 227.5 3.2 23.2 - - 0.5 26.9 200.6 52.1 21.0 252.2 94.4 66.9 486.6 11.7 22.1 - 81.3 0.9 116.0 370.6 94.0 18.7 400.4 94.3 65.9 673.3 45.9 24.5 54.7 130.0 4.7 259.8 413.5 79.0 18.7 500.4 94.3 65.9 758.3 45.9 24.5 139.7 130.0 4.7 344.8 413.5 Net debt / (net cash)1 Net debt / Adjusted EBITDA2 (23.2) million (0.7x) (39.5) million (1.4x) 11.3 million 0.2x 111.3 million 2.4x Deferred purchase consideration structured to be paid over multiple years Undrawn committed debt facilities of $50 million at present, option to increase to $75 million High cash conversion each period, supported by significant carried forward tax losses The redemption liability represents the present value of the estimated future (FY26) consideration to purchase additional earnings generated by the NGI Strategic Portfolio; increase driven by strong performance of the portfolio and to be adjusted as the payment formula crystallises each year 1. 2. 3. Excludes lease liabilities and the estimated 2026 redemption liability Calculated on last twelve-month period. Proforma adjustments for the Invictus transaction: $15 million reduction to cash for payment of initial consideration, a $100 million increase to investments and an $85 million increase to deferred consideration 29 FY22 Dividend The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Interim paid Final declared FY22 total Shares participating in final dividend USD 5.5 cps USD 3.0 cps USD 8.5 cps Ordinary shares on issue 235,692,011 Shares participating in dividend via Convertible Notes issued 1 Feb 21 68,222,761 Shares participating in dividend 303,914,772 AUD 7.64 cps AUD 4.35 cps1 AUD 11.99 cps1 FY2022 final dividend – key dates Ex Date: Record Date: Payment Date: 31 August 2022 1 September 2022 16 September 2022 FY22 Pay-out ratio 52% of FY22 Adjusted EBITDA 1. Estimated AUD final dividend only assuming an FX conversion rate of AUD/USD 0.6900. The actual AUD dividend per share will be determined using the AUD/USD rate on the Record Date, being 1 September 2022. 30 Dividend and funding strategy Amber Stoney, CFO Ross Zachary, MD Strategic Corporate Development 31 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Summary of Deferred Consideration from Investments Annual result Deferred consideration is generally used to align interests with management and provide growth capital when needed by the businesses NGI receives its full ownership and share of economics upon closing, not when consideration is paid Exact timing of Primary portions of deferred consideration will depend on the needs of each respective business Breakdown of $140 million Deferred Consideration Secondary $38.8 million Secondary consideration will be paid to the management team of Marble and Invictus partners Marble $6.9 million Secondary payments are due 3 May 2023 and 3 May 2024 $25 million Secondary payment to Invictus partners will be due on 4 August 2023, subject to an agreed revenue growth trigger being met. The payment is due any time up to 4 August 2025 whenever the trigger is met. Primary $101.2 million Primary consideration is retained on the balance sheet of the management companies and is used to fund growth initiatives such as seed assets in new products and co-investment commitments The timing of payment of Primary consideration will be driven by the timing of capital raising, deployment timing and permitted seed assets Monitoring process and ongoing dialogue with management provides transparency on the potential timing of calls of Primary consideration Remaining Marble and Invictus Consideration1 s n o i l l i m D S U 67.6 31.9 35.7 50.1 6.9 43.2 22.3 22.3 FY 2023 FY 2024 FY 2025 Primary Secondary 1. The timing presented reflects NGI’s best estimate of when payments of Primary and Secondary consideration may be made based on discussions with Marble and Invictus management and our understanding of expected growth initiatives. Pursuant to the terms of both transactions, payments of both Primary and Secondary consideration may be accelerated or delayed subject to certain conditions. 32 32 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Amended Dividend Policy from FY 2023 With the recent significant investments made by the NGI Group in recent months, both of which have deferred consideration, focus shifts to allocating more operating cash flows to these future payments Revised dividend policy from FY2023 The Company has set a policy of paying a single annual dividend of between US 3.0 cents per share and US 4.0 cents per share. Dividends will be unfranked, however may have conduit foreign income credits attached. The payment of dividends will be subject to corporate, legal and regulatory considerations. The above policy allows the NGI Group to direct a significant portion of cash generated from operating activities towards supporting the continued growth of the business. Impact of new policy Total annual dividend 3.0 - 4.0 US cents per share Continues to be unfranked Expected to have 100% CFI Single dividend payment in September each year Implied yield Implied payout ratio 3 - 4% on current share price of AUD 1.42 20 - 25% on FY22 Adjusted EBITDA 33 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Funding our commitments over the next 3 years NGI : will allocate cash flow from operations to fund our recent investments expects to pay a US 3.0 – 4.0 cents per share dividend on a financial year basis through FY 2025, which equates to between $9.1 million and $12.2 million of payments on current outstanding shares and convertible notes will utilise and paydown our lending facility depending on the timing of our cash flows and the needs of our partner managers Deferred consideration payable over 3 years of $140m Estimated available funding over period $120m - $165m Existing free cash $15m Debt facility of $50m with potential to increase to $75m2 Base operating cash flows1 (less dividends, interest and tax), assuming no growth FY2023 $18-25m x 3 years Any additional upside operating cash flows may be allocated to pay down debt facility 1. 2. Base operating cash flows are estimated assuming FY2023 base earnings range shown on page 21 Up to $75 million of capacity approved under the current facility. Discussions are well progressed to add $25 million to its existing $50 million of committed capacity 34 34 Closing remarks Sean McGould, CEO 35 In Closing We are in an exciting stage of our company’s evolution and growth Topic Conclusions Our current business Today’s NGI is a unique alternative asset management company with a diverse group of leading partner firms Lighthouse Recent strong relative investment returns and demand for multi-PM hedge funds will support continued evolution Recent investments We have added high quality earnings streams which will generate shareholder value over time Earnings drivers FY 2022 Results We now have upside from carried interest and multiple additional drivers of growth opportunities from our new investments We have delivered strong financial and investment results in a challenging environment, demonstrating the quality and stability of today’s company Funding and FY23 dividend policy We have the financing and cash flow to absorb our recent transactions and expect the settlement of the NGI Strategic Portfolio to be well planned 1 2 3 4 5 6 36 36 Q&A Appendices 38 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Navigator Group Results Annual result Statutory EBITDA up 35% on pcp 30 June 2022 USD millions 30 June 2021 USD millions Change to pcp Management fees revenue Performance fee revenue Revenue from reimbursement of fund operating expenses Revenue from provision of office space and services Net distribution from strategic investments Share of profits from JVs and associates Total revenue Employee expenses Other operating expenses Total operating expenses Result from operating activities Non-operating expenses Net changes in fair value of assets and liabilities Other finance income (excluding interest) Statutory EBITDA Net interest expense Depreciation and amortisation Profit before income tax Income tax expense Net profit after income tax 73.5 10.6 42.6 2.6 28.8 0.1 158.2 (50.7) (55.6) (106.3) 51.9 (1.1) 2.4 (2.0) 51.2 (0.7) (4.8) 45.7 (7.0) 38.7 75.6 13.5 17.0 1.8 3.7 - 111.6 (47.9) (31.1) (79.0) 32.6 (5.6) 11.9 (1.1) 37.8 (0.8) (4.5) 32.5 (5.7) 26.8 Diluted EPS (cents per share) 15.25 10.86 ▼3% ▼21% ▲150% ▲44% ▲678% ▲100% ▲42% ▲6% ▲79% ▲35% ▲59% ▼80% ▼80% ▲82% ▲35% ▼13% ▲7% ▲41% ▲23% ▲44% ▲40% 39 39 We focus on market leaders with sustainable growth Marble and Invictus fit our criteria, designed to identify those managers which will continue their already impressive growth and strong performance Navigator seeks opportunities with the potential for long term growth and sustained profitability driven by scaling existing products, generating strong returns, successfully launching new adjacent products and expanding distribution to new regions and end markets Attractive market opportunity High quality earnings Long term and sustainable business plan Track record of partnering with high- quality investors Strong investment performance / track record High quality management team Identifiable investor demand Currently profitable; cash flow positive Proven and repeatable investment process Scaled and tested institutional quality operations Strong alignment of interest with key stakeholders Cultural fit 40 40 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. NGI operates and invests in the most attractive area of asset management Alternatives are the faster growing segment of the Asset Management industry1 Key drivers of growth in alternative assets classes USD trillions +5% 105 11 15 29 14 36 117 14 17 33 15 38 147 23 22 CAGR: Alternatives 10% Solutions 6% 43 Passive 6% 16 44 Money Markets 2% Core Active 3% 2020 2021 2026E Low correlation with traditional asset classes, such as equities or bonds Diversification benefits across real assets, hedge funds, private equity and structured products Influenced by inherent strength of underlying investment and typically less exposed to general market trends Attractive risk adjusted return profiles through investment proposition and structuring Within Alternatives, growth is expected to be driven by private markets at 12% CAGR with 4% CAGR for hedge fund asset class overall1 Wide dispersion in manager performance and asset growth across all alternative asset classes given recent market conditions Private market alternatives continue to offer superior returns to public markets with less volatility, and the overall opportunity set continue to expand The investment environment for hedge funds and liquid alternatives managers have improved with recent market volatility, economic conditions, ongoing changes in interest rate policy and geopolitical events 1. Source: Morgan Stanley and Oliver Wyman 41 41 Minority Stake Partnership Model The continued growth of high-quality managers will lead to additional investment and partnership opportunities Overview The market for minority stakes in the management companies and general partnerships of alternative asset managers was established by strategic buyers (e.g., investment banks, sovereign wealth funds) pre-2008 Since the launch of Goldman Sach’s Petershill in 2007 and Dyal Capital in 2011, the market has expanded to include a broader universe of vehicles funded by institutional investors who are focused on these investments Given the growth and institutionalization of the operating model in alternative asset management, managers have increasingly prioritized flexible capital options to enable them to optimise their ownership structures and raise growth capital As a result, managers are more educated, making the process to explore and execute a partnership more efficient and constructive In addition, their investor base is more supportive of managers entering into such partnerships as they have now seen examples of preserved alignment of interests Barriers to entry remain, such as the expertise to evaluate and structure these unique partnerships as well as the operating structure, model and culture to serve as a suitable long-term partner to high sophisticated and entrepreneurial mangers Why Partner with NGI: Experience Our team includes founders, operators and investors in alternative investment business Flexibility Our partnerships are structured to meet the unique needs of each business with a focus on supporting growth Partnership Model We bring to bear insights and resources from across our global network to support our partners’ growth objectives Long Term We have a long term if not perpetual mindset focused on long term enterprise value growth Strategic minority stakes provide growth capital and strategic benefits to already successful alternative asset managers, while preserving their autonomy, key alignment with clients and the ability to attract and retain talent 42 42 The numbers in this presentation have been presented in US dollars (USD) unless otherwise indicated. Disclaimer This presentation has been prepared by Navigator Global Investments Limited (NGI) and provides information regarding NGI and its activities current as at 25 August 2022. It is in summary form and is not necessarily complete. It should be read in conjunction with NGI’s 30 June 2022 Annual Financial Report and other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au. This presentation is of a general nature only and for information purposes only and should not be considered an offer, invitation or recommendation to acquire Shares or any other financial products. Reliance should not be placed on information or opinions contained in this presentation and, subject only to any legal obligation to do so, NGI does not have any obligation to correct or update the content of this presentation. The information in this presentation remains subject to change without notice. NGI reserves the right to withdraw or vary the transactions described in this presentation without notice. While the information in this presentation has been prepared in good faith and with reasonable care, no representation or warranty is made as to the accuracy, adequacy or reliability of any statements, estimates, opinions or any other information contained in this presentation. To the maximum extent permitted by law, the NGI Group, its directors, officers, employees, agents and any other person disclaim all liability and responsibility (including without limitation any liability arising from fault or negligence) for any direct or indirect loss or damage which may be suffered through use or reliance on anything contained in or omitted from this presentation. The information in this presentation is not intended to be relied upon as advice to investors or potential investors, who should consider seeking independent professional advice depending upon their specific investment objectives, financial situation and particular needs. FORWARD-LOOKING STATEMENTS Certain statements in this presentation may constitute “forward-looking” statements. Forward Statements can be identified by the use of 'forward-looking' terminology, including, without limitation, the terms 'believes', 'estimates', 'anticipates', 'expects', ‘projects’, 'predicts', 'intends', 'plans', 'propose', 'goals', 'targets', 'aims', 'outlook', 'guidance', 'forecasts', 'may', 'will', 'would', 'could' or 'should' or, in each case, their negative or other variations or comparable terminology, and include financial outlook information. Forward-looking statements involve elements of subjective judgment and analysis, are neither promises nor guarantees and involve known or unknown risks, uncertainties and other factors, some of which are beyond the ability of NGI to control or predict, which may cause actual results to vary materially from any projection, future results or performance expressed or implied by such forward-looking statements. No assurance is given that future developments will be in accordance with NGI’s expectations. Actual results could differ materially from those expected by NGI. The financial outlook information has been prepared by NGI based on historical financial information and an assessment of current economic and operating conditions, including in relation to the current impact of the COVID-19 pandemic on NGI's business, and various assumptions regarding future factors, events and actions, including in relation to economic conditions, future growth, customer retention and contracts and the success of the external business in which NGI holds an investment. Investors should note that the financial outlook information is provided for illustrative purposes only and may not be indicative of actual performance in the future. Investors should be aware that the timing of actual events, and the magnitude of their impact might differ from that assumed in preparing the financial outlook information, which may have a material negative effect on actual future financial performance, financial position and cash flows. You are strongly cautioned not to place undue reliance on forward looking statement, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption. Any such statements, opinions and estimates in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward looking statements including projections, guidance on future earnings and estimates are by their very nature subject to significant uncertainties and contingencies and are not reliably predictable. They are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance and may involve known and unknown risks, uncertainties and other factors, many of which are outside the control of NGI. No representation or guarantee is made by NGI or any other person that any of these forward-looking statements (including the financial outlook information) will be achieved or proved to be correct. Readers are cautioned not to place undue reliance on forward looking statements and NGI assumes no obligation to update such statements (except as required by applicable regulations or by law). PAST PERFORMANCE Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon (and is not) and indication of future performance. Nothing contained in this presentation, nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee, whether as to the past, present or future. All dollar values are in United States dollars (USD) unless other stated. The figures in this presentation are subject to rounding. The information in this presentation remains subject to change without notices. Queries Amber Stoney Chief Financial Officer & Company Secretary 07 3218 6200 Company address Navigator Global Investments Limited (ACN 101 585 737) Registered office: Level 21, 10 Eagle Street, Brisbane, Q, 4000 Principal office: Level 3, 9 Sherwood Road, Toowong, Q, 4066 43