ICG Enterprise Trust (ICGT) investor relations material

Executive summary

• Focused on mature, profitable private companies in North America and Europe, emphasizing risk management, consistent returns, and low leverage.

• Portfolio is diversified by sector, geography, and investment thesis, with high margin, mission-critical businesses and a robust balance sheet.

• Active management and selective investment approach, balancing new investments, buybacks, and dividends.

• Realized assets above carrying value and returned capital to shareholders via dividends and buybacks.

Financial highlights

• Portfolio returned 4.8% in local currency for the year; 0.5% NAV per share total return after a 3.6% FX headwind.

• Five-year NAV per share total return annualized at 10%; share price total return at 13%.

• GBP 51 million returned to shareholders, including GBP 28 million via buybacks and 39p total dividend per share (8% YoY increase).

• GBP 227 million available liquidity at year-end, with GBP 1,353 million portfolio value and GBP 33 million net debt.

• 49 full exits at a 3x cost multiple and 11% uplift to prior carrying value.

Outlook and guidance

• Entering FY27 in a strong financial position with flexibility to invest in high-quality opportunities.

• High bar for new investments and active portfolio management will continue.

• Aim to rebuild concentration in larger positions post strong realization year.

• Will balance long-term value creation with near-term shareholder returns through investments, buybacks, and dividends.

• Focus on originating top-tier managers, portfolio concentration, and balancing short- and long-term returns.