Volta Finance (VTA) investor relations material

Executive summary

• NAV increased to €7.49 per share as of 31 July 2025, up from €7.13, with a total NAV of €274.2m, reflecting a 5% year-over-year increase.

• Share price rose over 30% to €6.80, narrowing the discount to NAV to 9.3% from 27.1% the previous year.

• Portfolio is now 99.8% invested in CLOs, with 92 CLO positions and exposure to 42 CLO managers.

• Dividend policy maintained at 8% of NAV, resulting in a 9.1% yield on share price.

• Strong cashflow generation at 21% of NAV, supporting dividends and fees while growing NAV.

Financial highlights

• Profit for the year was €35.4m, down from €45.0m in 2024.

• Net gain on financial assets at fair value through profit or loss was €41.5m, compared to €56.1m in 2024.

• Operating expenditure decreased to €8.7m from €11.5m.

• NAV total return was 13.9% (2024: 19.7%), outperforming US and Euro high yield bonds.

• Share price total return was 44.1% (2024: 13.6%).

• Ongoing charges ratio (including performance fees) was 3.2% (2024: 4.5%).

Outlook and guidance

• Management expects continued strong cashflows and income from a diversified CLO portfolio.

• Anticipates rate cuts in H2 2025, which may compress returns but improve credit fundamentals.

• Focus remains on active asset selection, managing maturity profiles, and maintaining high cash levels for opportunistic investments.