Appendix 4D and 31 December 2024 Half Year Accounts

• Profit after income tax up 701.3% to $10.5 million
• Net tangible asset backing per share increased
• Interim dividend of $0.02 per share declared

Salter Brothers Emerging Companies Limited has reported a significant increase in profit after income tax for the half-year ended 31 December 2024, up 701.3% to $10.489 million compared to the previous corresponding period. The company's profit before tax for the half-year was $14.950 million, up from $1.761 million in the prior period. The increase in profit was driven by a net gain on financial instruments at fair value through profit or loss of $16.246 million, up from $2.419 million in the previous half-year. Total expenses increased to $1.517 million, up from $1.039 million in the prior period, mainly due to higher performance fees and management fees. The company's net assets increased by $6.992 million during the period to $96.409 million, attributable to the increase in portfolio value, partly offset by share buybacks and operating expenses. The company's net tangible asset (NTA) backing per share also increased, with the pre-tax NTA at $1.131, the post-tax, pre-unrealised gains tax NTA at $1.132, and the post-tax NTA at $1.123 as at 31 December 2024. The directors have declared a fully franked interim dividend of $0.02 per share, to be paid on 24 April 2025.

The company reported a 701.3% increase in profit after income tax to $10.489 million for the half-year ended 31 December 2024.