Perpetual Equity Investment Company (PIC) investor relations material

Executive summary

• Achieved profit before income tax of $27.3 million for the half-year ended 31 December 2025, up from $6.1 million in the prior corresponding period.

• Net profit after tax attributable to shareholders was $20.4 million, compared to $5.9 million for the same period last year.

• Net Tangible Assets (NTA) after tax increased to $1.260 per share, a 0.96% rise during the half-year.

• Paid a fully franked dividend of 4.0 cents per share and declared an interim dividend of 4.0 cents per share, both fully franked.

Financial highlights

• Total investment income rose to $31.0 million from $9.9 million year-over-year.

• Management fees and other expenses totaled $3.8 million, similar to the prior period.

• Basic and diluted earnings per share were 5.31 cents, up from 1.55 cents year-over-year.

• Net assets increased to $483.9 million as of 31 December 2025, up from $477.5 million at 30 June 2025.

Outlook and guidance

• Investment strategy remains focused on quality, value, and recurring earnings, with a disciplined approach to portfolio management.

• No significant changes in the state of affairs or outlook were reported.