Kapstream Investment Trust
(ASX:KIT)

Equity Trustees Limited (“Equity Trustees” or “EQT”) (ABN 46 004 031 298; AFSL 240975), is the responsible entity (“Responsible Entity”) for the Kapstream Investment Trust (ARSN 691 029 124) (“the Fund”). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT). Kapstream Capital Pty Ltd (ACN 122 076 117; AFSL 308870) is the investment manager of the Fund (“Investment Manager” or “Kapstream Capital”) and Mantis Funds Pty Ltd (ACN 640 207 021; AFS CAR no. 001281645) is the operations manager of the Fund (“Operations Manager” or “Mantis”) (together, the “Managers”).

The information contained  on this website (“Website”) is being issued by EQT as Responsible Entity to issue units in the Fund to be listed on the ASX (“Units”). While neither the Managers nor EQT have any reason to believe that the information is inaccurate, the truth or accuracy of the information contained on this Website is expressly not warranted or guaranteed. Anyone accessing this Website must obtain and rely upon their own independent advice and inquiries. The actual offer of the Units will be made by, or will be accompanied by, a Product Disclosure Statement (“PDS”), which should be read together with the target market determination (“TMD”) issued by EQT and available on this Website. The PDS contains important information about investing in the Units and it is important investors obtain and read a copy of the PDS before making a decision about whether to acquire, continue to hold or dispose of Units. You should also consult a licensed financial adviser before making an investment decision in relation to the Units.

Neither the Managers nor EQT warrant that the information on this Website is accurate, reliable, complete or up-to-date, and to the fullest extent permitted by law, disclaims all liability of the Managers, EQT and their directors, senior executives, employees, agents, consultants, advisers, officers, authorised representatives and associates (“Covered Personnel”).

The information on this Website (other than the PDS) is not a product disclosure statement, prospectus or other offer document under Australian law or any other law. This Website has not been approved by regulatory authorities in any jurisdiction. The information contained on this Website (other than the PDS) will be qualified in its entirety by reference to the PDS, which will contain additional information about the investment objective, terms and conditions of an investment in the Units. The information contained  on this Website must not be copied or disclosed in whole or in part without the prior written consent of the Responsible Entity and the Managers, and the Responsible Entity and the Managers accept no liability whatsoever for the actions of third parties in this respect. This Website is provided for informational purposes only and is not to be construed as a solicitation or an offer or recommendation to buy or sell any securities. Any opinions expressed on this Website may be subject to change. Responsible Entity and the Managers are not obliged to update the information on this Website. The information on this Website must not be used by recipients as a substitute for the exercise of their own judgment and investigation. None of EQT, the Managers, nor any Covered Personnel accepts any liability for any loss or damage arising out of the use of all or part of, or any omission, inadequacy or inaccuracy  on this Website. Neither the Managers nor EQT guarantees the performance of the Units or the repayment of any investor’s capital. To the extent permitted by law, neither the Managers nor EQT nor any of their Covered Personnel, is liable for any loss or damage arising as a result of reliance placed on the contents of this Website.

EQT, the Managers and their Covered Personnel from time to time hold interests in securities of corporations or investment vehicles referred to in materials provided to clients. All information contained herein is considered proprietary to the Managers and, accordingly, this material is not to be reproduced in whole or in part or used for any purpose except as authorised by the Managers.

This Website is not, and is not intended to be, an offer or invitation for subscription or sale, or a recommendation, with respect to any securities, nor is it to form the basis of any contract or commitment. This Website does not purport to identify the nature of the specific market or other risks associated with these products. Before entering into any transaction in relation to the Units, the investor should ensure that it fully understands the terms of the Units and the transaction, relevant risk factors, the nature and extent of the investor’s risk of loss and the nature of the contractual relationship into which the investor is entering. Prior to investing in the Units, an investor should determine, based on its own independent review and such professional advice as it deems appropriate, the economic risks and merits, the legal, tax accounting characteristics and risk, and the consequences of an investment in them. This Website does not contain substantive commentary or analysis by the EQT or the Managers and has not been prepared as a research product or comments by a research analyst. Past performance is not indicative of future performance. All future rates and performance indicators are targets or estimates only and there is a risk that these are not achieved. Unless specific otherwise, the information in this Website is current as at 16 February 2026.

General Advice Warning: Any advice on this website is general advice only, as the information or advice given does not take into account your particular objectives, financial situation or needs. Therefore, at all times you should consider the appropriateness of the advice before you act further.

Ratings referred to on this Website are limited to “General Advice” (section 766B of the Corporations Act 2001 (Cth)) for Wholesale Clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS before making any decision. Past performance is not an indication of future performance.

You are also representing that you are a resident of and accessing this Website from Australia. For the avoidance of doubt, the Offer is not open to persons in the United States.