2026 ASX Investor Presentation

Key points

• 28th consecutive year of dividend growth: 63 cps final dividend (fully franked)
• $15b merger with Brickworks completed, outperformance delivered, balance sheet strengthened
• Net Cash Flows From Investments (NCFI) up 11.5% vs pcp, driven by Credit, Private Companies, and Real Assets
• Post-tax NAV per share up 27.2% ($8.15) including $0.8b of tax assets from the merger

Full summary

Soul Pattinson's FY26 results highlight a 28th consecutive year of dividend growth, with a final dividend of 63 cents per share (fully franked). The company completed a $15 billion merger with Brickworks, delivering outperformance and strengthening its balance sheet. Net Cash Flows From Investments (NCFI) increased by 11.5% year-over-year, driven by growth in Credit, Private Companies, and Real Assets. The post-tax Net Asset Value (NAV) per share rose by 27.2% to $8.15, including $0.8 billion of tax assets from the Brickworks merger. The company's portfolio is strategically allocated, with 30% in listed companies, 20% in fixed income, 17% in private companies, 12% each in credit and emerging companies, and 10% in real assets. The portfolio's performance reflects active management, liquidity, and a focus on defensive, uncorrelated assets.

Guidance

NCFI up 11.5% vs pcp, driven by Credit, Private Companies, and Real Assets

Outlook

Soul Pattinson aims to continue growing the portfolio and outperforming the market over the long-term. The company plans to leverage its liquidity and strategic asset allocation to capitalize on new opportunities.