GVF delivers another half year of healthy returns

• Operating profit before tax of $11.5M
• Adjusted pre-tax NTA increases by 4.4%
• Discount capture strategy drives returns, generating 3% over the period
• A fully franked dividend of 3.3 cents per share declared

The Staude Capital Global Value Fund Limited (ASX: GVF) ('GVF' or the 'Company') announces an operating profit before tax of $11.5 million and an operating profit after tax of $8.7 million for the half-year ended 31 December 2025. The Company has declared a fully franked interim dividend of 3.3 cents per share. The Company's investment portfolio increased by 4.4% over the period, and the Board is pleased to announce the dividend, which equates to a grossed-up yield of 7% based on GVF's current share price. Since its IPO in 2014, the Company has now declared total grossed up dividends of 96.5 cents per share, and the total value that shareholders have received back is now over $1 per share, matching the Company's IPO price. The portfolio manager, Miles Staude, discusses the market environment, noting that while global share markets rose by 11.2% and global bond markets returned 2.6% in US$ terms, the GVF portfolio's adjusted NTA return of 4.4% was respectable, with a large portion of the returns coming from the discount capture strategy. The company also provides details on the dividend reinvestment plan and full-year dividend guidance.

The Board currently anticipates that the FY2026 full year dividend payment will be the same size as the declared FY2026 interim dividend, being a 3.3 cent per share dividend, 100% franked.