September 2025 AUM Update

• Total NGI Firm level AUM up 3% to USD87 billion
• Ownership Adjusted AUM up 4.5% to USD29 billion
• Lighthouse's direct Hedge Fund AUM up 8.1% to USD5 billion

Navigator Global Investments Limited (ASX: NGI) has provided an update on its assets under management (AUM) and performance for the three months ending 30 September 2025 (Q1 FY26). Total NGI Firm Level AUM increased by 3% to USD87 billion during the quarter, up 13.7% over the past 12 months, reflecting continued growth across NGI's portfolio of Partner Firms. Navigator's ownership-adjusted AUM increased by 4.5% to USD29 billion during the quarter, up 9.0% over the past 12 months. The backdrop of ongoing geopolitical and market volatility continues to create an attractive environment for high-performing active managers, with NGI's Partner Firms delivering strong performance on an absolute and relative basis during the quarter. Lighthouse Partners' AUM increased by 6.9% to a record USD17 billion, driven by inflows into higher fee-yielding direct Hedge Fund strategies (up 8.1%) and strong investment performance across LHP's strategies. NGI Strategic's ownership-adjusted AUM was up 1.7% over the quarter (+13.2% over the past 12 months), with continued growth coming from a combination of both positive net inflows and investment performance across the aggregated portfolio. NGI's private markets Partner Firms also saw AUM increase by 7.7% during the quarter.