City of London Investment Group (CLIG) investor relations material

Executive summary

• Funds under management reached a record $11.9 billion by February 2026, driven by strong investment performance, market appreciation, and increased client interest in international and emerging markets strategies, despite ongoing net outflows.

• The group operates as a diversified asset manager with over $7bn in institutional and $4bn in HNW assets as of December 2025, focusing on quality growth, expanding its client base, and enhancing operational efficiency.

• Leadership team, including a new CEO appointed in January 2026, brings over 20 years of experience each, emphasizing active management, global mindset, and operational excellence.

• Strategic priorities include empowering teams, refining product offerings, maintaining a strong dividend policy, and supporting growth through a robust balance sheet.

• Merger with Karpus Investment Management and launch of new strategies, such as Listed Private Equity and Global Equity CEF, expanded product offerings and client reach.

Financial highlights

• Assets/Funds under management (AUM/FuM) were $11.2 billion at December-end 2025, rising to $11.9 billion by February 2026.

• Net fee income increased by 6% year-over-year to $37.3 million, driven by higher average FuM.

• Underlying profit after tax rose 9.5% to $12.3 million, with underlying EPS up to 19.5p from 17.8p year-over-year; profit before tax increased by 11% to $13.9 million, and underlying profit before tax up 7% to $16.2 million.

• EPS for the period rose 14% to 21.6¢, and underlying EPS increased 10% to 25.1¢.

• Interim dividend of 11p per share declared, maintaining a yield above 8.5%, payable April 2, 2026.

• Cash and cash equivalents at period end: $32.8 million, with no debt.

Outlook and guidance

• Management anticipates continued growth opportunities from increased client interest in international, emerging markets, and fixed income strategies, while expecting continued volatility and opportunities for active management.

• The group is positioned to benefit from a shift in investor sentiment, subsiding inflation, lower interest rates, and increased global growth.

• Focus remains on quality, compounding growth, expanding distribution channels, and building enduring partnerships through regular stakeholder engagement.