Sandon Capital Investments : SNC Shareholder Update

ersonal use only

Sandon Capital Investments Ltd

Shareholder update 15 March 2022

Important Information

This presentation is prepared by Sandon Capital Investments Limited (SNC) for general information purposes only. The information contained in this presentation is for information purposes only and has been prepared for use in conjunction with a verbal

onlypresentation and should be read in that context. The presentation is not a recommendation, offer or invitation by any person or to any person to buy, sell or apply for securities or interests in any company. You should not construe the contents of this presentation as tax or investment advice. No financial product advice is provided in this presentation and nothing in it should be taken to construe a recommendation or statement of opinion that is intended to influence a person in making a financial product decision.

useNeither SNC, its manager, Sandon Capital Pty Ltd (Sandon Capital), nor any related or associated companies guarantees the performance of SNC, the return of investor's capital or any specific rate of return.

Nothing in this presentation takes into account any person's investment objectives, financial situation or particular needs. You should seek advice before making any investment decision.

ersonalThe projected results and any forward-looking statements contained in this presentation are not historical facts. They are based on current expectations, speak only as of the date of this presentation, as the case may be, and are susceptible to a number of risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such projected results and statements. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and

market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of SNC and Sandon Capital. Although we believe that the assumptions underlying any projected results and forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this presentation will prove to be accurate.

In light of the significant uncertainties inherent in such forward-looking statements, the inclusion of such information should not be regarded as a representation to future results or that the objectives and plans expressed or implied by such forward-looking statements will be achieved. We will not undertake, and specifically decline any obligation to disclose the results of, any revisions that may be made to any forward- looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of any events. In addition, it is our policy generally not to make any projections as to future results, and we do not endorse any projections regarding future performance that may be made by third parties.

Any quoted performance is post fees and expenses but before tax and assumes distributions were reinvested. Dollars are AUD, unless otherwise stated. We are not responsible for the statements made by or attributed to others in this presentation. Past performance is no guarantee, nor does it provide any indication, of future returns.

© Sandon Capital Investments Limited 2022

Lonsec Research Disclosures

The rating issued October 2021 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager, Sandon Capital Pty Ltd. Visit lonsec.com.au for ratings information and to access the full report. © 2020 Lonsec. All rights reserved

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SNC Results

Sandon Capital Investments Limited

Half year results for period ended 31 December 2021

onlyG R O S S I N V E S T M E N T R E T U R N S

$7.3m

useN E T P R O F I T A F T E R T A X

$4.6m

ersonalF U L L Y F R A N K E D D I V I D E N D S P A I D D U R I N G T H E H A L F Y E A R

3.75cps

1 As at 28 Feb 2022.

2. This assumes current balance of franking account, which stands at 7.2 cents per share.

Result Highlights

• Gross investment returns represented a gain of 4.5%, compared to a 4.6% return from the All Ordinaries Accumulation Index
• Net returns represented a gain of 3.5%
• SNC has paid fully franked dividends totalling 45.3 cents per share (48cps including the interim to be paid)
• SNC has distributed 17.6 cents per share of imputation credits since inception
• Performance in December 2021 was adversely affected by IDT Australia Ltd .

Interim Dividend of 2.75 cents per share

• Shareholders holding SNC shares on the Record Date of 17 May 2022 will receive a fully franked interim dividend of 2.75 cents per share
• The DRP will apply to this dividend

Strong Dividend Capacity Remains

• Profits reserve 29.5 cents per share1
• Franked credits 7.2 cents per share1
• ~4 years of full dividend paying capacity at the current dividend rate2

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Sandon Capital Investments Limited

Dividends

only51.0																								0.3	0.9
	Dividend policy is to pay a growing stream of fully franked dividends
67.0
63.0
59.0																											17.6
55.0
47.0																						0.9	0.9		2.75
43.0																					0.9	2.75	1.00
								1.5		3.5
useCentsprshare																		1.3		2.5
39.0																1.3	2.5
35.0															1.3				3.5
31.0														1.3	3.5	3.5
27.0												1.3		3.5												48.0
23.0											1.3
										3.5
19.0
							1.3
15.0							0.9	3.5
11.0						1.3	3.0
ersonal	7.0		0.9		0.9	3.0	2.0
	3.0			2.0
	-1.0
			2.0
				FY15 int	FY15 final FY16 int. FY16 final FY17 int. FY17 final FY18 int. FY18 final FY19 int. FY19 final FY20 int	FY20 final FY21 int. FY21 final	FY21	FY22	Total
				Initial
			Special		+ special.																		special	Interim
												Imputation Credits						Dividends
* The Board anticipates paying dividends of a similar amount to the most recent final dividend, subject of course to prudent business

practice and the availability of profits and franking.

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