Eildon Capital Group ASX:EDC HALF YEAR RESULTS PRESENTATION 23 February 2021 Eildon Capital Group is a stapled group comprising Eildon Capital Limited and Eildon Capital Trust Eildon Capital Group [ ASX:EDC ] Financial Results Disclaimer Important Notice This Presentation (Presentation) has been prepared and issued by Eildon Capital Limited ACN Financial amounts 059 092 198 and Eildon Funds Management Limited as Responsible Entity for Eildon Capital All dollar values are in Australian Dollars (A$) and financial data is presented as at the date of Trust together referred to as the Eildon Capital Group (EDC). this presentation unless stated otherwise. EDC’s results are reported under Australian This Presentation must not be copied or distributed to other persons without the prior written Accounting Standards, or AAS. consent of EDC, which may be given or withheld in its absolute discretion. This document is not a Product Disclosure Statement (PDS) or prospectus and does not contain Future performance all of the information which would be required to be disclosed within the relevant documents. This Presentation contains certain ‘forward looking statements’ including statements regarding or based on EDC’s current belief, intent, assumptions or expectations with respect to the Summary Information financial condition and performance, results and operations, business plans and objectives or The information contained in this Presentation is of a general nature and in summary form. management, capital adequacy, risk management practices and specific or general provisions. Neither EDC (nor any of its respective officers, employees, related bodies corporate, affiliates, Forward looking statements can generally be identified by the use of forward looking words agents or advisers) guarantees or makes any representation or warranty, express or implied, as such as ‘anticipate’, ‘believe’, ‘expect’, ‘project’, ‘forecast’, ‘estimate’, ‘likely’, ‘intend’, to, or takes responsibility for, the accuracy, or reliability of the information contained in this ‘should’, ‘will’, ‘could’, ‘may’, ‘target’, ‘plan’ and other similar expressions within the document. EDC does not represent or warrant that this document is complete or that it meaning of securities laws of applicable jurisdictions. Indications of, and guidance or outlook contains all material information about EDC or which a prospective investor or purchaser may on future earnings, distributions or financial position or performance are also forward looking require in evaluating a possible investment in EDC or acquisition of any securities in EDC (EDC statements. The forward looking statements contained in this Presentation involve known and Securities). unknown risks and uncertainties and other factors, many of which are beyond the control of It is not intended to be relied upon as advice to investors or potential investors, and does not EDC, and may involve significant elements of subjective judgement and assumptions as to contain all information relevant or necessary for an investment decision or that would be future events which may or may not be correct. required in a prospectus or PDS prepared in accordance with the Corporations Act. There can be no assurance that actual outcomes will not differ materially from these forward- Statements in this Presentation are made only as of the date of this Presentation unless looking statements. EDC's past performance is no guarantee of EDC's future performance. otherwise stated and information in this Presentation remains subject to change without notice. Disclaimer No party other than EDC has authorised or caused the issue, lodgement, submission, dispatch Not an Offer or provision of this Presentation, or takes any responsibility for, or makes or purports to make This Presentation is not a prospectus, disclosure document, PDS or other offering document any statements, representations or undertakings in this Presentation. Any information or under Australian law and does not constitute an invitation to subscribe for or buy any EDC representations not contained in this Presentation may not be relied upon as having been Securities, including in any jurisdiction in which it would be unlawful, or a solicitation to authorised by EDC. engage in or refrain from engaging in any transaction. Nothing contained in this document nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee, whether as to the past, Not investment advice or a recommendation present or future. Past performance information given in this document is given for illustrative This Presentation does not constitute investment or financial product advice, nor is it a purposes only and should not be relied upon as (and is not) any indication of future recommendation to acquire EDC Securities. It is not intended to be used as the basis for performance. making a financial decision, nor is it intended to constitute legal, tax, accounting or other To the maximum extent permitted by law, EDC, officers, employees, agents and advisers advice. In particular, this Presentation is not intended to be relied upon as advice to any disclaim all liability for any expenses, losses, damages or costs incurred by you as a result of person and does not take into account the financial situation, objectives or needs of any this Presentation being inaccurate or due to information being omitted from this Presentation, person. This Presentation may not be relied on to make an investment or other financial whether by way of negligence or otherwise, make no representation or warranty, express or decision, and you should make your own assessment and take independent professional advice implied, as to the currency, accuracy, reliability or completeness of the information in this in relation to the information, before making any investment decision in relation to EDC. Presentation. The information in this Presentation remains subject to change without notice. Eildon Capital Group [ ASX:EDC ] Financial Results 2 What is Eildon Capital Group (EDC)? Eildon Capital Group Eildon Capital Group is a real estate funds management business and investor. – Its investment activities cover both debt and equity in real estate. – The Funds Management platform manages third-party capital on behalf of wholesale investors delivering the Group management fees. Eildon Capital Group Strategy Generate investment opportunities which aim to deliver: – Capital protection; and – Enhanced returns Depending on the nature of opportunity, EDC will allocate investment opportunities between its balance sheet and third-party capital investors. Eildon Capital Group Objectives – Continue to deliver consistent distributions per stapled security (average of >7.2% p.a since inception); – Enhance earnings in-line with funds management business growth; and – Grow net assets and share price. Eildon Capital Group is well positioned for growth Eildon Capital Group [ ASX:EDC ] Financial Results 3 Half Year Results – 31 December 2020 Highlights – Successful internalisation of manager – Growth in Net Assets per security – Remained fully deployed / committed – Pipeline of investments opportunities – Attractive distribution profile maintained EPS DPS Growth in Net Assets DPS 1 6.0 cents 3.925 cents Yield 7.6% of 1.8% New unlisted Group assets Net profit property funds under Net assets after tax launched management per security $2.5m 2 $220m2 $1.11 All numbers as at 31 December 2020. 1. Based on current distribution payment rate and stapled security price of $1.05 as at 19 February 2021. 2. Includes balance sheet and third-party AUM. Eildon Capital Group [ ASX:EDC ] Financial Results 4 Eildon Capital Group - Snapshot at 31 December 2020 Balance Sheet Investments 6 $29m 5 $8m 78% 100% Debt Equity Portfolio Debt Portfolio in Core Investments Investments Exposure Markets Group Snapshot $45.4m $220m1 2 Balance Sheet Group Assets Under Management Net Assets 7.6% $4.5m Distribution yield Co-investment in Funds 1. Includes balance sheet and third-party AUM. 2. Based on a price of $1.05 per stapled security as at 19 February 2021 and current distribution payment rate. Eildon Capital Group [ ASX:EDC ] Financial Results 5 Eildon Capital Group – Attractive Investment Attributes Targeted distributions of 7.0% - 8.0% p.a of Net Assets (paid quarterly) High transparency of Net Assets of $1.111 per security Defensive investment portfolio characteristics with 78% invested in debt Scalable and diverse funds management platform with $220 million AUM providing pathway to potential EPS growth Highly experienced and stable management team and Board of Directors 1. As at 31 December 2020. Eildon Capital Group [ ASX:EDC ] Financial Results 6 * EDC’s past performance is no guarantee of EDC’s future performance. future of EDC’s guarantee nois performancepast * EDC’s Strong historical performance Eildon Capital Group has delivered consistent DPS growth since IPO, reflecting a CAGR of 2.5% to 31 December 2020*. 2020*. December 31 to 2.5% of CAGR a reflecting IPO, since growth DPS consistent delivered has Group Capital Eildon forecast forecast yield from achieved >20%achieved IRR Over $107 Over million Proven Investment Weighted average investments 17 completed 17 completed balance balance sheet projects projects that invested invested Process 14% 0.050 0.100 0.150 0.200 0.250 0.300 0.350 - Feb Mar Apr May 2017 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 2018 Jun Jul EDC Cumulative Distributions ($) Distributions Cumulative