Investor Presentaiton

Share Price Performance TSR of 0.6% in the six months • Longer term performance remains strong, with TSR outperforming the FTSE All-Share TR on a 3, 5 and 10 year basis 20% +15.0% 15% • Shorter term TSR has been impacted by sector sentiment and ongoing concerns about the macro-economic outlook 10% • Discount widened from 32.8% to 35.4% in the 5% period Half-year results 2023 Annualised Performance +11.8% +7.0% +3.7% 0% Over 3 years Over 5 years I Caledonia Share Price TR CALEDONIA INVESTMENTS +9.6% +5.6% Over 10 years FTSE All-Share TR 22 27

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