Tribeca Global Natural Resources (TGF) investor relations material

Executive summary

• Reported profit after tax surged to $75.9 million for FY26, up from $5.0 million in FY25, marking the best annual performance since inception.

• Revenue from ordinary activities reached $138.3 million, a 584% increase year-over-year.

• Net tangible assets (NTA) per share excluding tax rose 67% to $3.49.

• Precious Metals was the top-performing segment, with Base Metals also contributing strongly.

• A fully franked final dividend of $0.10 per share was declared, bringing the full-year dividend to $0.15 per share.

Financial highlights

• Operating profit before tax was $109.8 million, up from $7.0 million in FY25.

• Net profit after tax increased to $75.9 million from $5.0 million year-over-year.

• Basic and diluted EPS rose to $1.01 from $0.06.

• NTA per share (excluding tax) increased to $3.49 from $2.09; including tax, $3.09 from $2.15.

• Share buyback of 5.1 million shares at an average price of $1.97 per share executed.

Outlook and guidance

• Board expects continued strong performance, supported by robust demand for commodities driven by electrification, AI, and defense spending.

• Retained profits and franking credits are sufficient to maintain at least $0.05 per share interim and final dividends for the next two years.

• Portfolio manager remains optimistic about the opportunity set in the commodities market.