Welcome to this fortnight’s TMTM Order Pad, where we break down one high-conviction investment idea and assess whether the market is mispricing the opportunity.

In this episode, Felicity dives into WiseTech Global (WTC.ASX) one of the ASX’s most widely followed technology stocks and explains why we believe the company could be entering a critical 2026 re-rating phase.

After a sharp sell-off across global software stocks, WiseTech now trades below historical valuation averages despite strong customer retention, growing free cash flow, a transition to transaction-based pricing, and integration upside from e2open.

In this deep dive, we cover:

• What WiseTech actually does and why CargoWise is mission-critical

• The pricing model shift and margin outlook

• e2open integration risks and opportunities

• AI disruption risk or competitive advantage?

• What the upcoming FY26 result needs to prove

Is this simply a recovery trade or a genuine asymmetric opportunity?

IMPORTANT: WTC.ASX at the time of recording 10th February 2026 is trading between $47 and $50

🎯 About TMTM Order Pad

Order Pad is our fortnightly high-conviction stock segment, where we analyse companies with structural advantages, strong cash generation, and identifiable catalysts ahead. Think next-multibagger energy with institutional discipline.

Positioning before consensus.

⚠️ Important Disclaimer

This podcast contains general information only and does not take into account your personal objectives, financial situation or needs. It does not constitute personal financial advice. Before making any investment decision, you should consider whether the information is appropriate for you and seek advice from a licensed financial adviser. Talk Money To Me is hosted by advisers at Shaw and Partners Felicity Thomas and Candice Bourke (AFSL 236048). Past performance is not a reliable indicator of future performance. All investments carry risk. Investments may rise and fall in value, and capital loss is possible.

📩 Get in Touch

If you would like to discuss your portfolio or explore whether WiseTech or other ASX opportunities may be appropriate for you:

📧 tcftgroup@shawandpartners.com.au

🌐 www.cftgroup.com.au

🎙 Follow Talk Money To Me on Spotify, Apple Podcasts & YouTube

📱 Follow @TalkMoneyToMePodcast on Instagram & @TalkMoneyToMe on LinkedIn

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What does 2026 really look like for investors?

In this first episode back for 2026, Talk Money To Me hosts Felicity Thomas and Candice Bourke break down what’s actually driving markets beneath the surface using institutional insights from global strategy teams across equities, credit, derivatives and China.

Markets may be broadening, but risks are shifting and in this episode we unpack what that means for portfolios.

• Why markets feel calmer but may actually be more fragile in 2026
• The rotation away from the US and why China and Europe are back in focus
• The next phase of the AI trade — and why it’s moved beyond mega-cap tech
• How to think about copper, infrastructure and electrification as AI enablers
• Why private credit and high yield could be the hidden risk this year
• Why Europe, particularly banks and credit, is quietly well positioned
• The key 2026 market catalysts to watch — from China’s NPC to US midterms
• How UBS’s “10 Surprises” framework is already playing out in markets
• What Felicity and Candice are actually doing in portfolios as a result

2025 was about chasing what worked.

2026 is about positioning for what’s coming next.

This podcast is for general information only and does not take into account your personal objectives, financial situation or needs.

While Felicity Thomas and Candice Bourke are Authorised Representatives of Shaw and Partners Limited (AFSL 236048), the information discussed in this podcast does not constitute personal financial advice or a recommendation to buy or sell any financial product.

You should consider whether the information is appropriate for you and seek independent professional advice before making any financial decisions.

Information is current as at the time of recording: 4th February 2026

If you’d like to discuss any of the themes covered in this episode or understand how they may apply to your portfolio:

• Visit: www.cftgroup.com.au
• Or get in touch with Felicity Thomas or Candice Bourke cftgroup@shawandpartners.com.au

Follow Talk Money To Me on Spotify or Apple Podcasts, and share this episode with someone who loves their markets, macros and long-term investing conversations.

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It’s the most wonderful time of the year, and our favourite annual tradition! Candice & Felicity are joined once again by Shaw and Partners CIO, Martin Crabb, to unpack the Top 10 Investment Themes for 2026 in this festive, market-moving Christmas special.

This year, we’ve wrapped each theme in a Christmas-themed jingle, while Martin delivers deep insights on the macro landscape, AI acceleration, geopolitics, EM vs China divergences, private markets, and the big question: where should investors be positioned for 2026?

We also look back at Martin’s 2025 predictions including nuclear’s standout performance with a candid “Crystal Ball Review”, covering PDN, TLX and IDP’s 12-month results.

Finally, Martin reveals his #1 high-conviction pick for 2026, tied directly to one of his top themes for the year ahead.

This episode is packed with insights, laughter, Christmas spirit… and a few questionable vocal performances from your favourite financial advisers.

IN THIS EPISODE

The 10 themes shaping global markets in 2026

Bond markets: why they’re still “shark-infested waters”

How Trump’s “3 Ds” (DOGE, Deregulation & Drugs) shape US opportunities

AI infrastructure: the second-derivative winners

Europe’s surprising revival

EM vs China: where the winds are actually turning

Private markets unlocking liquidity

IPO & M&A activity making a comeback

Martin’s 2025 “crystal ball review” — PDN, TLX, IDP

Martin’s top investment pick for 2026

This episode is for informational purposes only and does not constitute financial advice. Candice Bourke and Felicity Thomas are authorised financial advisers with Shaw and Partners Limited (AFSL 236 048). The views expressed are general in nature and do not take into account individual circumstances. Always seek professional advice before making investment decisions. Information is current as of the recording date (10 December 2025).

📧 Contact us:

cftgroup@shawandpartners.com.au

info@cftgroup.com.au

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