Canadian General Investments (CGI) investor relations material

Executive summary

• NAV return with dividends reinvested was 8.6% in H1 2026, trailing the S&P/TSX Composite’s 11.2% total return amid strong Financials and Energy performance.

• Net assets rose to $1.814 billion from $1.683 billion at Dec. 31, 2025, after $144.5 million of net asset growth from operations and $12.9 million of dividends paid.

Financial highlights

• Total income was $157.1 million versus $46.2 million in H1 2025; net investment income before tax was $142.0 million versus $33.0 million.

• Net gains on investments were $157.0 million, including $153.3 million of unrealized gains and a $7.2 million realized loss; the prior-year period recorded $27.0 million of unrealized gains and $7.3 million of realized gains.

• Increase in net assets from operations was $144.5 million, or $6.93 per share, versus $33.1 million, or $1.59 per share, in H1 2025; refundable income tax recovery was $2.4 million versus $42,000.

• Dividend and interest income was $10.949 million, down 7.3% YoY; management fees rose 25.7% to $11.343 million, while interest expense declined 14.8%.

Outlook and guidance

• Outlook remained constructive on supportive fundamentals, while management cited caution given headline risks and ongoing uncertainty.

• Canadian earnings resilience, political stability, financial-sector strength, global commodity demand and focus on critical resources were viewed as supportive tailwinds.