• Net profit after tax of $209.7 million, up 45% year-on-year
• Net assets grew to $2,613.9 million, up 7% since June 2025
• Interim dividend increased 25% to 10 cents per share, fully franked

MFF Capital Investments Limited (MFF) has reported a strong half year result for the period ended 31 December 2025. The company recorded a net profit after tax of $209.7 million, down 45% from the prior corresponding period, but building on the profits of recent years and growing capital. Net assets grew to $2,613.9 million, up 7% since June 2025. The company's pre-tax NTA was $5.279 per ordinary share, with a post-tax NTA of $4.432 per share. MFF has continued to evolve its operating model over the past 12 months, increasing its team from one full-time employee to 17 and taking on full autonomy across its investment, operational and corporate functions. This transition has resulted in an increase in the group's expense base, which is expected to flow through the financial statements over the next 12-18 months. Despite the short-term financial impacts, MFF remains focused on its long-term objectives of compounding shareholder wealth and paying stable and growing dividends. The board has declared a 10 cents per share fully franked interim dividend and announced its intention to increase the six-monthly dividend to 11 cents per share for the period ending 30 June 2026, subject to prevailing considerations.

MFF expects to pay a fully franked interim dividend of 11 cents per share for the period ending 30 June 2026, subject to prevailing corporate, legal, taxation and regulatory considerations.

MFF remains focused on its long-term objectives of compounding shareholder wealth and paying stable and growing dividends. The company believes its portfolio of advantaged businesses will continue to achieve above average levels of profitable growth over the medium to long term, supporting its optimism for sustained long-term compound growth.