2025 Year in Review and 2026 Market Outlook

The information provided by Munro Partners is general information only. The video is not intended to include or constitute financial product advice. The views held by Munro Partners are current at the time of recording and are subject to change. Every effort has been made to ensure that the material contained in this video is accurate at the time of publication. Market conditions may change which may impact the information contained in this video. All charts and depictions in this video are for illustrative purposes only. They are not intended to predict or project investment results. This information has been prepared without taking account of the objectives, financial situation or needs of individuals. You should obtain independent advice from a licensed professional adviser before making any investment decision. Information about the Munro Funds issued in Australia, including the product disclosure statements (PDS), and target market determination (TMD) for the Munro Funds is available at www.gsfm.com.au, www.munropartners.com.au or by calling 1300 133 451. Munro Partners is a corporate authorised representative CAR 1244894 of Munro Asset Management Limited ABN 28 163 522 254, AFSL 480509. Past performance information in this video is given for illustrative purposes only and should not be relied upon as an indication of future performance. Neither Munro Partners, GSFM Responsible Entity Services nor any related entity guarantees the repayment of capital or the performance of the Fund or any particular returns from the Fund. No representation or warranty is made concerning the accuracy of any data contained in this document. 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); 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”. This video was recorded on 26 November 2025.