Investor Presentaiton

Net Cash (Debt) & Facilities Significant liquidity available 250 200 222 150 100 50 Movement in Net Cash/(Debt) (£m) . 40 40 23 -15 -27 -20 -263 -50 Investments - Portfolio Cash yield from investments Dividends Paid Net Cash 31 March 2023 Realisations - Portfolio Management Expenses & other Net Debt 30 September 2023 Half year results 2023 CALEDONIA INVESTMENTS • £250m RCF facility - £112.5m to July 2025 - £137.5m to November 2027 £255m of 7IM sale proceeds expected in early 2024 Caledonia Net Debt 30 September 2023 £(20)m Caledonia Pro Forma Liquidity £485m* * Pro Forma liquidity: cash on balance sheet of £15m, undrawn RCF of £215m and 7IM sales proceeds expected in early 2024 of £255m 26

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