Annual General Meeting

19 July 2023

www.caledonia.com

David Stewart

Chair

www.caledonia.com

Presentation of Final Results

Year ended 31 March 2023

Mat Masters

CEO

Tim Livett

CFO

Tom Leader

Head of Private Capital

www.caledonia.com

Highlights

Year ended 31 March 2023

NAV total return

+5.5%

(2022: +27.9%)

NAV per share

5068 pence

+0.5%

(2022: 5041p)

Net assets

£2,798m

+0.5%

(2022: £2,783m)

Share price

3390 pence

-4.2%

(2022: 3540p)

Annual dividend per share

67.4 pence

+4.0%

(2022: 64.8p)

  • +5.5% NAV per share total return for year
  • Private Capital and Funds pools generated good returns
  • Favourable impact of fall in value of Sterling v. US dollar
  • Payment of special dividend limited growth in NAV
  • 4.0% increase in full year dividend
  • CFO succession - Rob Memmott appointment announced
  • Post year-end (April 2023): Acquired majority stake in European division of AIR-serv for £142.5m

AGM 2023

3

Performance Track Record

Consistent long term outperformance

  • Aim to grow capital value and income over the long term (10 years) measured in real terms
  • Target return of RPI +3% to +6% over medium / long term
  • Aim to outperform FTSE All-Share Total Return over 10 years

20%

+19.3%

+5.5%

Annualised Performance

Target range:

Medium and Long-Term

long-term

+15.7%

RPI + 3%-6%

15%

+13.8%

RPI

+11.6%

+6.6%

+10.8%

+5.0%

7.9%

RPI

10%

+8.2%

+9.4%

5.7%

RPI

4.0%

+5.8%

+5.0%

5%

0%

Over 3 years

Over 5 years

Over 10 years

Caledonia NAVTR

Caledonia Share Price TR

FTSE All-Share TR

AGM 2023

4

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Disclaimer

Caledonia Investment plc published this content on 19 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2023 17:04:03 UTC.