FY26 Final Distributions

What is a distribution, exactly

A distribution is your share of the income and realised gains the fund earned during the year, paid in proportion to the units you hold. It typically includes:

• Dividends from the companies we own
• Interest on cash holdings
• Net realised capital gains from holdings sold during the year

Realised gains are what vary most year to year, and prior-year losses can offset gains before they reach you.

FY26 final distributions

We are pleased to share the final distributions per unit (DPU) for each fund and unit class, as at 30 June 2026.

For all funds, the ex-distribution date was 30 June 2026 and the record date was 1 July 2026.

Key dates

Payments and statements will be processed by our unit registry, Automic Group, with statements made available in the Automic Investor Portal.

Dates are approximate; we endeavour to make payments and issue statements as soon as possible, however delays can occur.

Important: if you are invested via an investment platform, distribution payments and distribution reinvestments are subject to the platform’s own processing and operations. Please allow additional time for payments, or speak to your platform for more information.

What happens now

No action is required.

Unlisted fund payments will be made within the coming week as cash to your nominated bank account, or as new units under the DRP.

OPH’s payment will follow in mid-August once the buyback completes. Tax statements will be issued approximately 7 business days after distributions.

Distribution Reinvestment Plan (DRP)

If you elected to participate in the DRP, your new units will be issued at the 30 June 2026 ex-distribution price, with no transaction costs or buy/sell spreads.

Your distribution statement will outline the calculation of the new units issued, and the units will appear in the Automic Investor Portal. You can change your DRP election at any time for future distributions.

Ophir High Conviction Fund (ASX: OPH)

OPH is a listed investment trust, so its DRP works differently. Because OPH units trade on the ASX, reinvested distributions are used to buy units on-market through our broker, rather than issuing new units.

The purchase price is capped at the reported end-of-financial-year NAV per unit. This benefits investors, with OPH currently trading at a discount, DRP units are purchased for less than the value of their underlying assets.

As the on-market purchase takes time to complete and settle, OPH’s distribution and tax statements arrive later than the unlisted funds, typically mid-to-late August. See the ASX announcement and DRP terms and conditions.

Why your unit price falls on 30 June

The unit price drops on the ex-distribution date because the distribution is paid out of it, not because of negative fund performance.

A simplified example: a unit starts the year at $2.50 and rises to $3.00 by 30 June (the cum-price), of which $0.15 per unit must be distributed. The $0.15 is paid out, and the price falls to $2.85 (the ex-price).

That drop isn’t a loss; the $0.15 is now in your pocket. Your total return for the year is still 20% ($0.50 gain ÷ $2.50): $0.35 in the unit price plus the $0.15 distribution.

How to submit an additional application

If you received your distribution in cash and would like to make an additional investment in the fund, please follow the instructions below. Applications must be received by Tuesday 28 July 2026 to be included in the July application cycle.

1. Through the Automic Investor Portal

If you are already registered on the Automic Investor Portal, you can top up your investment through the Top-Up facility:

• A) Log in and locate your Ophir holding on the portfolio screen, where your Market Value and Units are displayed.
• B) Select the Details dropdown to the right of your holding.
• C) Choose $ Top-Up and follow the prompts to complete your additional application.

2. By additional application form

Alternatively, complete the relevant additional application form (linked in Resources below) and return it to ophir@automicgroup.com.au.

Resources

• Update Bank Account Details Form
• Ophir Global Opportunities Fund (Class A) Additional Application Form
• Ophir Global Opportunities Fund (Class H) Additional Application Form
• Ophir Global High Conviction Fund (Class A) Additional Application Form
• Automic Frequently Asked Questions

As always, if you’d like to chat to us about any of the Funds, please feel free to call us on (02) 8188 0397 or email us at ophir@ophiram.com.

Thank you for entrusting your capital with us.

Kindest regards,

Andrew Mitchell & Steven Ng

Co-Founders & Senior Portfolio Managers

Ophir Asset Management

This document has been prepared by Ophir Asset Management Pty Ltd (ABN 88 156 146 717, AFSL 420082) (“Ophir”) and contains information about one or more managed investment schemes managed by Ophir (the “Funds”) as at the date of this document. The Trust Company (RE Services) Limited ABN 45 003 278 831, the responsible entity of, and issuer of units in, the Ophir High Conviction Fund (ASX: OPH), the Ophir Global Opportunities Fund and the Ophir Global High Conviction Fund. Ophir is the trustee and issuer of the Ophir Opportunities Fund.

This is general information only and is not intended to provide you with financial advice and does not consider your investment objectives, financial situation or particular needs.  You should consider your own investment objectives, financial situation and particular needs before acting upon any information provided and consider seeking advice from a financial advisor if necessary. Before making an investment decision, you should read the relevant Product Disclosure Statement (“PDS”) and Target Market Determination (“TMD”) available at www.ophiram.com or by emailing Ophir at ophir@ophiram.com. The PDS does not constitute a direct or indirect offer of securities in the US to any US person as defined in Regulation S under the Securities Act of 1993 as amended (US Securities Act).

All Ophir Funds are deemed high risk within their respective Target Market Determination documentation.  Ophir does not guarantee the performance of the Funds or return of capital.  An investment may achieve a lower than expected return and investors risk losing some or all of their principal investment.  Past performance is not a reliable indicator of future performance.  Any opinions, forecasts, estimates or projections reflect our judgment at the date this was prepared, and are subject to change without notice.  Rates of return cannot be guaranteed and any forecasts, estimates or projections as to future returns should not be relied on, as they are based on assumptions which may or may not ultimately be correct.

Actual returns could differ significantly from any forecasts, estimates or projections provided.

The Trust Company (RE Services) Limited is a part of the Perpetual group of companies. No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor’s capital.