• Gerald Stack promoted to CEO and Managing Director
• Chris Mackay to continue as MFF Portfolio Manager and become Executive Director Investments & Capital
• Strengthening of internal operations and investment capabilities

MFF Capital Investments Limited ('MFF' or 'Company') has announced the promotion of Gerald Stack to Chief Executive Officer and Managing Director of MFF Group with effect from 1 January 2026. Mr. Stack is an experienced, respected and successful financial services executive, with a proven track record of building businesses and developing effective, talented teams. He has over 30 years of financial services and investment management experience, including 18 years at Magellan Asset Management where he was Head of Investments, led the team responsible for Magellan's global listed infrastructure business and oversaw an asset base of more than $16 billion. Mr. Stack joined the MFF Group in September 2025 as Head of Investment Management. As Chief Executive Officer, Mr. Stack will assume overall responsibility for the leadership and operations of the MFF Group, as well as the development of its investment capabilities, which includes Montaka Global Investments. Chris Mackay will continue as MFF Portfolio Manager, remain on the Board of MFF and become Executive Director Investments & Capital. MFF has benefitted from focus on business quality and value in its portfolio amidst challenging market conditions and this will remain with Mr. Stack's appointment. MFF will continue its portfolio transparency to investors, along with its focus on portfolio quality and liquidity. MFF's successful approach to asset allocation and portfolio management will continue to be characterised by active decisions and processes including disciplined risk management across markets, asset classes and businesses.

The Company intends to pay a fully franked dividend of 10 cents per share for the six-monthly period ending 31 December 2025, subject to legal, regulatory, and commercial considerations. This dividend would be an increase on FY2025's final fully franked dividend of 9 cents per share paid in October 2025 and on the fully franked 8 cents per share dividend for the comparable six months to 31 December 2024.

MFF will continue to strengthen its internal capabilities and position MFF for sustainable long-term growth. The Board's focus remains on preserving the investment attributes and approach that have underpinned MFF's success.