Announcement PDF 16 September 2024 The Manager ASX Market Announcements ASX Limited Exchange Centre Level 4, 20 Bridge Street Sydney NSW 2000 Hearts and Minds Investments Limited advises that its Net Tangible Asset (NTA) backing per share as at close of business (including offshore markets) on Friday 13 September 2024 was: Estimated Net Tangible Asset Backing Per Ordinary Share1 (ex div) Pre Tax NTA2 $3.21 Post Current Tax NTA3 $3.20 Post Tax NTA4 $3.11 The NTA figures above are after providing for the recently announced fully franked dividend of 7.5 cents per share which had an ex-div date of 11 September 2024 and is payable on 17 October 2024. HM1 is pleased to offer shareholders access to its Dividend Reinvestment Plan (DRP). Please note elections are due by 5pm (AEDT) 16 September 2024 for those shareholders wishing to change their election from a cash payment to the DRP. Elections can be made by logging into their account at www.investorserve.com.au. For and on behalf of the board, Eryl Baron Company Secretary 1 All figures are unaudited and indicative only. 2Pre tax NTA is the NTA of the company before the provision for current or deferred tax. 3Post current tax NTA includes a provision for tax/tax benefit on operating profits/losses and on net realised gains/losses on the investment portfolio. 4Post tax NTA includes the provision for tax/tax benefit on operating profits/losses, and a provision for tax/tax benefit on both net realised and unrealised gains/ losses on the investment portfolio. Hearts and Minds Investments Limited ACN 628 753 220 A: Suite 12.04A, Level 12, Chifley Tower, 2 Chifley Square, Sydney NSW 2000. | W: HM1.com.au | E: ir@hm1.com.au | P: 1300 737 760 or +61 2 9290 9600