Intelligent Investor

🚨 Final call: IIGF offer closes today The Intelligent Investor Equity Growth Fund (ASX: IIGF) secondary offer closes today at 5pm AEST. This is your last chance to invest directly with no brokerage or buy/sell spread costs. IIGF is a high-conviction, actively managed fund built on a disciplined, valuation-led approach. It doesn’t follow the index — it focuses on identifying quality businesses trading below their long-term potential. Right now, markets are highly concentrated and valuation gaps are widening. These are the conditions where patient, active investors may find opportunity. If you’re a long-term investor willing to accept higher risk for potential higher returns, now is the time to act. ⏰ Applications and payments must be completed by 5pm AEST today 👉 View the offer: offer.intelligentinvestor.com.au/iigf This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/3QNwvES before making any investment decision. Past performance is not indicative of future performance. Promoted by InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435. InvestSMART Funds Management Ltd ABN 62 067 751 759 AFSL # 246441 is the product issuer of the Intelligent Investor Exchange Traded Funds.

⏳ Final days: IIGF offer closing soon The Intelligent Investor Equity Growth Fund (ASX: IIGF) secondary offer closes Friday 22 May, giving investors a limited window to invest directly with no brokerage or buy/sell spread costs. Today’s market is increasingly concentrated, a small group of large companies drive a significant share of returns. At the same time, many high-quality smaller and mid-sized businesses are trading at more attractive valuations — creating opportunities for active, value-focused investors. IIGF is designed to capture these opportunities through a disciplined, long-term investment approach. Now is the time to take a closer look before the offer closes. 👉 View the offer: offer.intelligentinvestor.com.au/iigf T&C: This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/3QNwvES before making any investment decision. Past performance is not indicative of future performance. Promoted by InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435. InvestSMART Funds Management Ltd ABN 62 067 751 759 AFSL # 246441 is the product issuer of the Intelligent Investor Exchange Traded Funds.

The Intelligent Investor Equity Growth Fund (ASX: IIGF) offer is now open Markets are crowded at the top. Some of the best opportunities aren’t. While a handful of large companies have dominated returns, many high-quality businesses have been left behind, and are now trading at much more attractive valuations. The Intelligent Investor Equity Growth Fund (ASX:IIGF) is built to find them, using a disciplined, valuation-driven approach focused on long-term opportunity. It won’t move in a straight line. Performance comes in cycles, that’s how mispriced opportunities are captured. Invest directly with no brokerage or buy/sell spread costs. 📅 Offer closes Friday 22 May 2026 👉 View the offer: offer.intelligentinvestor.com.au/iigf This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/3QNwvES before making any investment decision. Past performance is not indicative of future performance. Promoted by InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435. InvestSMART Funds Management Ltd ABN 62 067 751 759 AFSL # 246441 is the product issuer of the Intelligent Investor Exchange Traded Funds.

Webinar: What’s really driving markets now — and where are the opportunities? Join Nathan Bell and John Addis live as they unpack why markets have been tough for value investors, what’s now starting to change, and why many high-quality, unloved businesses are trading at valuations last seen during past crises. They also discuss how AI, inflation and index concentration have reshaped markets. They’ll also walk through key holdings in the Intelligent Investor Equity Growth Fund (ASX:IIGF), including ResMed, AutoTrader and Amazon, ahead of the secondary offer. 📅 Thursday 14 May | 1pm AEST 🎥 Live + Q&A 👉 Register: offer.intelligentinvestor.com.au/iigf Can’t make it? We’ll send the recording. This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/3QNwvES before making any investment decision. Past performance is not indicative of future performance. Promoted by InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435. InvestSMART Funds Management Ltd ABN 62 067 751 759 AFSL # 246441 is the product issuer of the Intelligent Investor Exchange Traded Funds.

Get more of The Money Café with Intelligent Investor Essentials. And yes, there’s a free cap. Only $297.

Gaming giant Aristocrat has had a hot streak, but the tide may be turning. The latest numbers looked good, but some of the key trends were less reassuring. Read more: bit.ly/48kUwc6

WiseTech remains an investor favourite, but the latest result raises more questions than answers. Read more: bit.ly/3Pr3ez2

⏳Closing today at 5pm AEDT — IISV offer This is your last chance to invest directly in the Intelligent Investor Select Value Share Fund (ASX: IISV) with no brokerage or buy/sell spread costs. IISV offers a disciplined way to invest as markets reprice — combining Australian and global opportunities in a single, actively managed fund. It invests only when the price makes sense and avoids crowded, over‑owned stocks. 🕔 Offer closes at 5pm AEDT today. 🔗 Find out more before it closes: bit.ly/4kPKAMZ This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/4q9ZmAf before making any investment decision. Past performance is not indicative of future performance. Promoted by InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435. InvestSMART Funds Management Ltd ABN 62 067 751 759 AFSL # 246441 is the product issuer of the Intelligent Investor Exchange Traded Funds.

⏳ Final days — IISV offer closes Friday The Intelligent Investor Select Value Share Fund (ASX: IISV) offers a disciplined way to invest as markets reprice. Until Friday, 27 February 2026, you can invest directly in IISV with no brokerage fees or buy/sell spread costs. Key benefits include: • Australian and international diversification in one fund • Geographically unconstrained — the fund can hold future leaders wherever they’re listed • Managed by an experienced team of analysts This fund is designed for investors seeking capital growth and income, with a medium investment timeframe and a high risk/return profile. 🔹 Minimum investment: $2,000 🔗 Learn more before the offer closes: offer.intelligentinvestor.com.au/iisv This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/4q9ZmAf before making any investment decision. Past performance is not indicative of future performance. Promoted by InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435. InvestSMART Funds Management Ltd ABN 62 067 751 759 AFSL # 246441 is the product issuer of the Intelligent Investor Exchange Traded Funds.

Volatility feels uncomfortable. But is it really risk? Nick Cummings, Portfolio Manager at Intelligent Investor, unpacks one of investing’s most misunderstood concepts with Nadine Blayney. Nick explains why disciplined value investors often see volatility as opportunity, not danger, and discusses companies held in the Intelligent Investor Select Value Share Fund (ASX: IISV). If markets feel unpredictable right now, this conversation is well worth the watch — with his discussion on IISV portfolio holdings beginning at 18:17. 🎥 Watch now: bit.ly/4ruCrjf This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/4q9ZmAf before making any investment decision. Past performance is not indicative of future performance. Promoted by InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435. InvestSMART Funds Management Ltd ABN 62 067 751 759 AFSL # 246441 is the product issuer of the Intelligent Investor Exchange Traded Funds.

Looking for a disciplined way to invest as markets reprice? The Intelligent Investor Select Value Share Fund (ASX: IISV) could be worth considering. Built for periods like this, IISV takes an active investment approach designed to take advantage of opportunities globally and in Australia as markets become more selective. For a limited time, you can invest directly in IISV with no brokerage or buy/sell spread costs. Learn more about the offer and see if the fund is right for you: offer.intelligentinvestor.com.au/iisv This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/4q9ZmAf before making any investment decision. Past performance is not necessarily indicative of future performance.

Volatility is back. Markets are repricing. Valuations are under pressure. If you’re wondering how to position your portfolio for what lies ahead, join Nathan Bell and Nick Cummings – portfolio managers of the Intelligent Investor Select Value Share Fund – for a live webinar on Thursday 19 February. They’ll unpack why value investing could be making a comeback in a world of more volatility and greater mispricing, especially among the mega caps. You’ll also learn: - How they look for quality businesses at attractive prices - Where they’re investing now - Why discipline counts for long-term success Plus, there will be a live Q&A. Register now: offer.intelligentinvestor.com.au/iisv

🎧 Podcast spotlight | 14 January 2026 Why has Wesfarmers succeeded where so many diversified groups have struggled? In a new episode of Fear & Greed, Sean Aylmer is joined by Gaurav Sodhi, Deputy Head of Research at Intelligent Investor, to unpack what makes Wesfarmers truly different. From the extraordinary rise of Kmart’s Anko brand to Bunnings’ near-monopoly position, the conversation explores Wesfarmers’ unique management culture, disciplined capital allocation, and the long-term mindset that has underpinned its standout returns on the ASX. A thoughtful listen for anyone interested in what separates great companies from the rest. 🔗 Listen via Fear & Greed: bit.ly/4qYS4ih General advice only. Does not take your personal objectives, financial situation or needs into account. Consider the relevant PDS and TMD before investing. InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435.

🎧 Podcast spotlight WiseTech Global is one of Australia’s most successful tech stories, but also one of its most controversial. In this special Fear & Greed summer episode, Gaurav Sodhi, Deputy Head of Research at Intelligent Investor, joins Sean Aylmer to unpack why governance concerns at WiseTech Global have become impossible for investors to ignore. From allegations involving founder Richard White to questions around aggressive accounting, Gaurav explains why even a world-class product can’t compensate for governance risk. 👉 Listen here: omny.fm/shows/fear-and… General advice only. Does not take your personal objectives, financial situation or needs into account. Consider the relevant PDS and TMD before investing. InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435.

🎙 Fear & Greed podcast It’s been a brutal year for James Hardie, and investors haven’t been shy about their frustration. In this episode of Fear & Greed, Gaurav Sodhi, Deputy Head of Research at Intelligent Investor, joins Sean Aylmer to unpack what went wrong in 2025. From controversial strategic decisions to shaken investor confidence, Gaurav explains why one of his emails on the company was bluntly titled: “WTF.” It’s a candid discussion on capital allocation, trust, and how quickly sentiment can turn. 🔗 Listen here: omny.fm/shows/fear-and… General advice only. Does not take your personal objectives, financial situation or needs into account. Consider the relevant PDS and TMD before investing. InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435.

📈 RPMGlobal: Six Lessons from an 8-Fold Return Big wins don’t come from excitement — they come from discipline. In this in-depth case study, Intelligent Investor looks back on RPMGlobal, a business that delivered an eight-fold return to investors who stayed patient and focused on fundamentals. From uncovering quality hidden by complexity, backing aligned management, and understanding the power of low marginal costs, to letting compounding do its quiet work, this story reinforces timeless investing principles. It’s a powerful reminder that the most valuable lessons often come after success — and that doing the simple things well, consistently and patiently, can lead to exceptional outcomes. 👉 Read the full analysis and all six lessons: bit.ly/4j04y6E This information is general only and doesn’t take your personal objectives, financial situation or needs into account. InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435.

⚒️ Pilbara Minerals: What’s Behind the Lithium Surge? Pilbara Minerals (ASX: PLS) is up 45% this year, bouncing hard as lithium prices show early signs of recovery — even though the industry remains under pressure. In this new analysis, Intelligent Investor breaks down Pilbara’s strong operational performance, China’s impact on supply, and why volatility remains the name of the game. Curious where PLS stands now? 👉 Read the full analysis and see our latest recommendation: bit.ly/47FPMhj This information is general only and doesn’t take your personal objectives, financial situation or needs into account. InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435.

📈 Join us at ASX Investor Day – Sydney (Nov 8) & Melbourne (Nov 15)! Gain valuable insights from leading investment experts — including Gaurav Sodhi, Intelligent Investor’s Deputy Head of Research, who’ll be joining the Top investment ideas & stock picks panel. Hear what’s shaping markets right now, discover new opportunities and learn practical strategies to make smarter investment decisions. 🎟️ Secure your tickets: bit.ly/3sCjX7k 💸 Use code NOV25 for 20% off This information is general only and doesn’t take your personal objectives, financial situation or needs into account. InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435.

🕔 Last chance! The INES offer closes at 5pm AEDT today. This is your final chance to invest in the Intelligent Investor Ethical Share Fund (ASX: INES) with no brokerage and no buy/sell spread. Get direct access to a portfolio of high-quality, ethically screened companies. Since launching in June 2019, the fund has returned an average of 10.4% p.a. to 30 September, outperforming its benchmark by 1.5%. Don’t wait — the offer closes at 5pm AEDT. Learn more about the offer conditions and see if the fund’s right for you. 👉 offer.intelligentinvestor.com.au/ines This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/4q9ZmAf before making any investment decision. Past performance is not indicative of future performance. InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435.

⏰ Final days to take part in the INES offer! Until Friday 24 October 2025, you can invest directly in the Intelligent Investor Ethical Share Fund (ASX: INES) with no brokerage or buy/sell spread costs. INES combines strong returns with strong principles. Since launching in 2019, INES has delivered an average return of 10.4% a year to 30 September 2025, outperforming its benchmark by 1.5%. Learn more about the offer conditions and see if the fund’s right for you. 👉 offer.intelligentinvestor.com.au/ines This information is general only and doesn’t take your personal objectives, financial situation or needs into account. Consider the PDS and TMD at bit.ly/4q9ZmAf before making any investment decision. Past performance is not indicative of future performance. InvestSMART Financial Services Pty Limited ACN 089 038 531 AFSL 226435.