ersonal use only

NGE Capital Limited

ASX : NGE

AGM Presentation

26 May 2022

Disclaimer

The information in this presentation is in summary form and should not be relied upon as a complete and

onlyaccurate representation of NGE Capital Limited (NGE Capital) and or its various business activities. While management of NGE Capital have taken every effort to ensure the accuracy of the material in the presentation, the presentation is provided for information purposes

o ly. No representation or warranty, express or implied, is or will be made by NGE Capital or its officers, directors, employees or advisers as to the fairness, accuracy,

c mpleteness or correctness of the information, opinions and conclusions contained in, or implied by, this presentation, or as to the reasonableness of any assumption, forecasts, prospects or returns contained in, or implied by, this presentation or any part of it. The presentation may include information derived from third

useparty sources that has not been independently verified.

This presentation does not constitute investment, legal, taxation or other advice and the presentation does not take into account your investment objectives, financial ituation nor particular needs. You are responsible for

forming your own opinions and conclusions on such matters and should make your own independent assessment of the information contained in, or implied by, this presentation and seek independent professional advice in relation to such information and any action taken on the basis of the information. This document is

ersonalnot, and does not constitute advice or an offer to sell or the solicitation, invitation or recommendation to purchase

ny securities that are referred to in this document.

This presentation should be read in conjunction with the latest Annual Report of NGE Capital and other periodic a d continuous disclosure announcements that have been lodged by NGE Capital with the Australian Securities Exchange. To the maximum extent permitted by law, NGE Capital, its related bodies corporate, respective directors,

fficers, employees, agents and advisors, will not be liable in any way for any loss or damage suffered from the use of information contained in this document.

Past performance is not a reliable indicator of future performance.

This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of NGE Capital and certain plans and objectives of the management of NGE Capital. Forward-looking statements can generally be identified by the use of words such as 'project', 'foresee', 'plan', 'expect', 'aim', 'intend', 'anticipate', 'believe', 'estimate', 'may', 'should', 'will' or similar expressions.

Any forecast or other forward-looking statement contained in this presentation involves known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of NGE Capital, and may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements.

The forward-looking statements included in this presentation involve subjective judgment and analysis and are subject to significant business, economic and competitive uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to NGE Capital. Given these uncertainties, you are cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are based on information available to us as of the date of this presentation. Except as required by law or regulation (including the ASX Listing Rules) we undertake no obligation to update these forward-looking statements.

This presentation is provided for informational purposes only and is subject to change without notice. Subject to any obligations under applicable laws, regulations or securities exchange listing rules, NGE Capital disclaims any obligation or undertaking to release any updates or revisions to the presentation to reflect any change in expectations or assumptions. Nothing in the presentation should be interpreted to mean that future earnings per share of NGE Capital will necessarily match or exceed its historical published earnings per share, or that there has been no change in the affairs of NGE Capital since the date of the presentation.

No part of the presentation may be distributed, disseminated or used elsewhere in any context without NGE Capital's prior written consent.

References to dollars, cents or $ in this presentation are to Australian currency, unless otherwise stated.

2

Company snapshot

• NGE Capital Limited (NGE or Company) is a Listed Investment Company (LIC) which offers

only

investors exposure to an actively managed, concentrated portfolio of high conviction investments.

• Broad investment mandate, not restricted by geography, asset class, or security type.

• Focus primarily on listed ASX and international equities.

• Employ a bottom-up, fundamental approach to investment selection.

use

•

Aim to generate strong risk-adjusted returns over the medium to long term.

ersonal

Fundamental

Concentrated,

Broad investment

Target strong

Heavily aligned

Actively

managed

analysis

high conviction

mandate

risk-adjusted

management

portfolio

returns

3

Company snapshot (cont.)

Summary as at 30 April 2022 Top shareholders1Board of directors

only

NGE

David Lamm

11.11%

David Lamm

Chief Investment Officer

Ticker

Share price

$0.890

Raphael Lamm

8.81%

Adam Saunders

Portfolio Manager

Shares outstanding

36.0m

Kuridale Nominees Pty Ltd

5.20%

Ilan Rimer

Non-Executive Director

Market cap

$32.0m

Adam Saunders

4.38%

NTA per share before tax

$1.087

1 Shareholders above 5% and Directors.

use

$1.152

NTA per share after tax

NTA before tax

$39.1m

NTA after tax

$41.5m

ersonal

Significant management shareholding in the Company: backing our investment decisions, and aligned with shareholders.

4

Investment philosophy

1

Target investments that can generate strong returns with an adequate margin of safety

only

•

Individual securities can and do significantly deviate away from their fair value.

•

Potential to generate strong risk-adjusted returns by investing in select securities at opportune times.

•

Event-driven special situations can provide strong risk-reward opportunities (e.g. M&A, asset sales, strategic reviews,

corporate actions such as spinoffs/demergers, changes in leadership, changes in strategy, and capital management

announcements such as buybacks/return of capital/increased dividends/special dividends).

2

Aim to hold a high conviction, concentrated portfolio

use

•

Only invest in a compelling opportunity, otherwise hold cash.

•

Prefer to invest heavily in a small number of high conviction opportunities, than invest small amounts in a large

number of less compelling investments.

Invest based on fundamental analysis

3

•

Bottom up stock selection, focusing on the fundamentals of individual companies whilst keeping abreast of macroeconomic

indicators and conditions that may directly impact those fundamentals.

•

Conduct extensive proprietary research with a focus on:

•

Board and management - track record, skin in the

•

Valuation - multiples, discounted cash flow analysis,

game.

break-up value.

•

Credit risk - gearing, debt profile, interest coverage.

•

Competition - market share, industry position,

•

Earnings - free cash flows including timing and

market dynamics.

likelihood, margins, payout ratio, growth potential.

ersonal

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

NGE Capital Ltd. published this content on 26 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2022 10:39:42 UTC.