* 'The Anatomy of a GP Stakes Fund: An investment for all seasons' article is propriety content of Blue Owl Capital.
IMPORTANT INFORMATION
This presentation has been prepared by Navigator Global Investments Limited (NGI) and provides information regarding NGI and its activities current as at 13 November 2025. It should be read in conjunction with NGI’s 30 June 2025 Annual Financial 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. The information contained in this presentation does not constitute investment, financial or financial product advice and must not be used as the basis for making an investment or other decision or considering the merits of any particular investment. This presentation is not, and should not constitute an offer to buy, or an inducement, invitation or recommendation to acquire Shares or any other securities, investment products or financial products in Australia, the United States or any other jurisdiction, and neither this presentation, nor any of the information contained herein, shall form the basis of any contract or commitment The offer and sale of any equity securities in NGI have not been, and will not be, registered under the U.S. Securities Act, and such securities may not be offered or sold in the United States unless they have been registered under the U.S. Securities Act or are offered and sold pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and any other applicable securities laws or any state or other jurisdiction of the United States. The distribution or release of this presentation outside Australia may be restricted by law. This presentation is not a disclosure document, product disclosure statement or other offering document under Australian law or the law of any other jurisdiction. 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, subject only to any legal obligations to do so. 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. The NGI Group does not represent or warrant that this presentation is complete or that it contains all material information about the NGI Group. Reliance should not be placed on information or opinions contained in this presentation. To the maximum extent permitted by law, the NGI Group, its directors, officers, employees, agents and any other person referred to in this presentation disclaim all liability and responsibility (including without limitation any liability arising from fault or negligence) for any direct, indirect, consequential , or contingent 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 conduct their own independent investigations, assessments and enquiries, and consider seeking independent professional advice depending upon their specific investment objectives, financial situation and particular needs. The NGI Group, its directors, officers, employees, agents and any other person referred to in this presentation do not act, and are not responsible, as a fiduciary to any recipient of this presentation, and each of them expressly disclaims any fiduciary relationship and responsibilities.
FORWARD-LOOKING STATEMENTS
Certain statements in this presentation may constitute “forward-looking” statements. Forward-looking 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, 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 is not necessarily a guide to future performance and past performance information given in this presentation is given for illustrative purposes only and should not be relied upon (and is not) as an 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 (USD) unless otherwise stated. The figures in this presentation are subject to rounding. The information in this presentation remains subject to change without notice.
FINANCIAL AND OTHER DATA
Recipients of this presentation should be aware that certain financial data included in this presentation may be considered “non-IFRS financial measures” or “non-GAAP” financial measures under Regulation G under the U.S. Securities Exchange Act of 1934, including underlying metrics and items such as Fee Related Earnings, Spread Related Earnings, Net Revenue, Net Revenue Margin, EBITDA, Adjusted EBITDA, EBITDA margin and AUM, and do not have a standardised meaning prescribed by Australian Accounting Standards (AASBs) or International Financial Reporting Standards (IFRS) and therefore may not be comparable to similarly titled measures presented by other entities, nor should they be construed as an alternative to other financial measures determined in accordance with AASBs or IFRS. In this particular, information in this presentation presented on and “underlying” or “adjusted” basis is not presented in the manner required for reported or statutory financial information under AASBs or IFRS.Certain market and industry data (including industry forecasts, projections, market sizes, market shares and market positions) included in this presentation has been obtained form public filings, research, surveys or studies conducted by third parties, including industry and general publications, which has not been independently verified by NGI, as well as from NGI’s own internal estimates and research. NGI cannot warrant or guarantee the adequacy, fairness, accuracy or completeness of such information. Market data and statistics are inherently predictive and subject to uncertainty and not necessarily reflective of actual market conditions.
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