Tribeca Global Natural Resources (TGF) investor relations material

Executive summary

• Achieved a net profit after tax of $69.5 million for the half-year ended 31 December 2025, reversing a prior year loss of $10.3 million.

• Declared a fully franked interim dividend of $0.05 per share, with a record date of 6 March 2026.

• Portfolio delivered a post-tax NTA return of +45.72% for the half-year, with a record monthly return of +15.77%.

• Strong performance attributed to investments in gold, silver, copper, lithium, and successful equity capital markets activity.

Financial highlights

• Revenue from ordinary activities was $118.6 million, up from a loss of $8.7 million in the prior period.

• Operating profit before tax reached $100.9 million, compared to a loss of $14.9 million year-over-year.

• Net tangible assets per share (pre-tax) increased to $3.42 from $1.90 year-over-year.

• Basic and diluted EPS was $0.90, up from a loss per share of $0.13 in the prior period.

Outlook and guidance

• Anticipates continued strong performance in 2026, driven by strategic value in commodities and ongoing supply issues.

• Expects global trends, such as the US push for energy and defense security, to support a bull market in critical minerals.

• Sees potential for further outperformance as investor flows rotate into real assets.