What opportunities have emerged from Nuclear SMRs?

CIO Nick Griffin has just returned from two weeks in the US, attending the Goldman Sachs Technology Conference and the Morgan Stanley Industrials Conference, alongside numerous company meetings. In this update, Nick shares what he heard on the ground: a strong but bifurcated US economy, rapidly accelerating demand for compute as companies move into the industrialisation phase of AI, and why the team believes the data-centre build-out is only around halfway through. He also discusses the recent pullback across AI and travel names, and where Munro sees the key opportunities into the end of the year. Issued by Munro Partners (ABN 58 295 538 057), a corporate authorised representative (CAR 1244894) of Munro Asset Management Limited (ACN 163 552 254) an Australian Financial Services Licence holder (AFSL 480509). The podcast is for general information purposes only as it is not investment advice of any nature. The information contained in this podcast reflects, as of the date of publication, the views of Munro Partners and sources believed by Munro Partners to be reliable. There can be no guarantee that any projection, forecast or opinion in these materials will be realised. The views expressed in this podcast may change at any time after the date of issue. This information has been prepared without taking account of the objectives, financial situation or needs of individuals. Before making an investment decision in relation to the Funds, investors should consider its appropriateness having regard to your own objectives, financial situation and needs and obtain independent advice from a licensed professional adviser. 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 or by calling 1300 133 451. Past performance information given in this podcast is given for illustrative purposes only and should not be relied upon as an indication of future performance. None of GSFM Responsible Entity Services, Munro Partners, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. No representation or warranty is made concerning the accuracy of any data contained in this podcast. You should consider the PDS and Additional Information to the PDS in its entirety before making a decision to acquire or continue to hold an interest in the Funds. This podcast was recorded on 30 September 2026.

What happens when you spend two weeks meeting the companies building the AI revolution? CIO Nick Griffin and Investment Analyst Jean Huang share their biggest insights from Taiwan. Prepared by Munro Partners, a corporate authorised representative (CAR 1244894) of Munro Asset Management Limited (ACN 163 522 254) an Australian Financial Service licence holder (AFSL 480509). The information discussed in this podcast is for general information purposes only and is not financial advice. You should obtain independent advice from a licensed professional adviser before making any investment decision. The views held by Munro Partners are current at the time of recording and are subject to change. Past performance information given in this recording is for illustrative purposes only and should not be relied upon as an indication of future performance. The information in this podcast has been prepared without taking account of the objectives, financial situation, or needs of individuals. None of Munro Partners, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. Information about the Munro funds is available at munropartners.com.

AI infrastructure is accelerating, aviation demand remains structurally strong, and security spending continues to reshape the global landscape. Investment Analysts, Ben Chamberlain, Dan Condon and Nicky Sun unpack the key insights from Q1 2026 earnings season and what they mean for Munro's Areas of Interest. Prepared by Munro Partners, a corporate authorised representative (CAR 1244894) of Munro Asset Management Limited (ACN 163 522 254) an Australian Financial Service licence holder (AFSL 480509). The information discussed in this podcast is for general information purposes only and is not financial advice. You should obtain independent advice from a licensed professional adviser before making any investment decision. The views held by Munro Partners are current at the time of recording and are subject to change. Past performance information given in this recording is for illustrative purposes only and should not be relied upon as an indication of future performance. The information in this podcast has been prepared without taking account of the objectives, financial situation, or needs of individuals. None of Munro Partners, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. Information about the Munro funds is available at munropartners.com.

In episode four of our Climate Series, Responsible Investment Manager Mike Harut chats with Milla Craig, Founder & CEO of Millani. Together they explore the real state of responsible investment in Canada. From the ripple effects of the US policies, to whether climate targets are still driving corporate spending, and why AI might just be the most fascinating development in the space right now. Prepared by Munro Partners, a corporate authorised representative of Munro Asset Management Limited (ACN 163 522 254) an Australian Financial Service licence holder AFSL 480509. The information discussed in this podcast is for general information purposes only and is not financial advice. You should obtain independent advice from a licensed professional adviser before making any investment decision. The views held by Munro Partners are current at the time of recording and are subject to change. Past performance information given in this recording is for illustrative purposes only and should not be relied upon as an indication of future performance. None of Munro Partners, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. Information about the Munro funds is available at munropartners.com

This International Women’s Day, Communications Designer Annmarie Nocera sits down with Investment Analysts Nicky Sun and Jean Huang and Junior Trader Sophia Hollingshed to discuss their career journeys, roles at Munro, and what keeps them motivated. Performance reference: Alphabet shares increased approximately 65% between Jan 2025 and Dec 2025. Issued by Munro Partners, a corporate authorised representative (CAR 1244894) of Munro Asset Management Limited (ACN 163 552 254) an Australian Financial Services Licence holder (AFSL 480509). The podcast is for general information purposes only as it is not investment advice of any nature. The information contained in this podcast reflects, as of the date of publication, the views of Munro Partners and sources believed by Munro Partners to be reliable. There can be no guarantee that any projection, forecast or opinion in these materials will be realised. The views expressed in this podcast may change at any time after the date of issue. This information has been prepared without taking account of the objectives, financial situation or needs of individuals. Before making an investment decision in relation to the Funds, investors should obtain independent advice from a licensed professional adviser. 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 or by calling 1300 133 451. Past performance information given in this podcast is given for illustrative purposes only and should not be relied upon as an indication of future performance. None of GSFM Responsible Entity Services, Munro Partners, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. No representation or warranty is made concerning the accuracy of any data contained in this podcast. You should consider the PDS and Additional Information to the PDS in its entirety before making a decision to acquire or continue to hold an interest in the Funds. This podcast was recorded on 27 February 2026.