• Ownership Adjusted AUM remained steady at USD29 billion
• Lighthouse's higher fee yielding direct Hedge Funds AUM up 1.7% to USD4.8 billion
• NGI Strategic AUM down 2.5% to USD11.7 billion, with Private Markets' AUM up 7.1%

Navigator Global Investments Limited (ASX: NGI) provided an update on its assets under management (AUM) and performance for the three months ending 31 December 2025. Navigator's ownership-adjusted AUM remained steady at USD29.0 billion at the end of the quarter, up 7.0% over the past 12 months. Excluding the impact of the sale of Bardin Hill that closed during Q2, Navigator's ownership adjusted AUM increased by 1.8% in the quarter. Total NGI Firm Level AUM decreased by 3.2% to USD83.7 billion during the quarter but grew by 6.6% over the past 12 months. Excluding Bardin Hill, Firm Level AUM increased by 0.3% in Q2. Lighthouse Partners' AUM increased by 1.8% to a record USD17.3 billion, up 7.5% over the past 12 months, driven by strong investment performance across its strategies. NGI Strategic AUM from NGI Strategic Partner Firms was down 2.5% in Q2, but up 6.4% over the past 12 months. Excluding the impact of the Bardin Hill sale, ownership adjusted AUM from NGI Strategic Partner Firms increased by 1.9% for Q2. The strong growth of NGI Strategic Private Markets continued in Q2 with AUM increasing by 7.1%, taking total AUM growth over the past 12 months to 50%.

Navigator will be providing further information on its financial performance, strategy execution and outlook at its interim results on 23 February 2026.