2025 End of year investor update

Video Description

On November 27 2025, we held a livestream for our direct investors, where Nick, Qiao and James shared insights on the funds’ performance over the past year and responded to investor questions. This presentation has been prepared for Munro’s livestream presentation and discussion on Thursday November 27, 2025. The slides prepared for the meeting are not available for distribution. The material contained in this presentation is for general information purposes only and is not intended as investment advice of any nature. The information contained in this presentation reflects, as of the date of publication, the views of Munro Partners and sources believed by Munro Partners to be reliable. There can be no guarantee that any projection, forecast or opinion in these materials will be realised. The views expressed in this document may change at any time after the date of issue. This information has been prepared without taking account of the objectives, financial situation or needs of individuals. Before making an investment decision in relation to the Funds, investors should consult a professional adviser and consider the appropriateness of this information, having regard to their own objectives, financial situation and needs, and read and consider the product disclosure statement (PDS) for the applicable Fund, which may be obtained from www.gsfm.com.au, www.munropartners.com or by calling 1300 133 451. GSFM Responsible Entity Services Limited ABN 48 129 256 104 AFSL 321517 (GSFM Responsible Entity Services) is the responsible entity of the Munro Global Growth Fund ARSN 612 854 547 APIR MUA0002AU (MGGF); the Munro Concentrated Global Growth Fund ARSN 630 173 189 APIR GSF9808AU (MCGGF) and the Munro Climate Change Leaders Fund ARSN 654 018 952 APIR GSF1423AU (MCCL); and the Munro Global Growth Small and Mid Cap Fund ARSN 670 777 885 (Fund) APIR GSF0874AU (SMID), together the “Funds”, and is the issuer of this information. Munro Partners has been appointed by GSFM Responsible Entity Services as investment manager of the Funds. Munro Partners is a corporate authorised representative of Munro Asset Management Limited (ABN 28 163 522 254) Australian Financial Service licence holder (AFSL 480509). Past performance information in this document is given for illustrative purposes only and should not be relied upon as an indication of future performance. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. All MSCI return data is the property of MSCI. No use or distribution without written consent. Data provided “as is” without any warranties. MSCI assumes no liability for or in connection with the data. None of GSFM Responsible Entity Services, Munro Partners, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. No representation or warranty is made concerning the accuracy of any data contained in this document. The management costs are inclusive of GST and RITC. The Fund Exposure and Top 5 Holdings depict end of month figures and may have changed materially from holdings during the month or not disclosed due to confidentiality reasons. The Delta Adjusted Exposure includes impact of options hedging. Numbers may not sum due to rounding or compounding returns. GSFM Responsible Entity Services is the issuer for the Funds, the MGGF PDS (PDS) and the supplementary product disclosure statement for the Fund and the Secondary Supplementary Product Disclosure Statement (SPDS), the MCGGF PDS and the Additional Information to the PDS, and the MCCL PDS and the Additional Information to the PDS and the SMID PDS all of which may be obtained from www.gsfm.com.au, www.munropartners.com or by calling 1300 133 451. You should consider the PDS and Additional Information to the PDS in its entirety before making a decision to acquire or continue to hold an interest in the Funds. GSFM Responsible Entity Services has produced a Target Market Determination (TMD) in relation to the Funds and investors should consider the TMD before making an investment decision in relation to the Funds. The TMD sets out the class of persons who comprise the target market for the Funds and is available at www.gsfm.com.au. This document is issued 27 November 2025.