• Revenue down 46.4% to $17.4 million
• Profit before tax down 53.8% to $11.5 million
• Declares 3.3 cents per share interim dividend for FY2026

Staude Capital Global Value Fund Limited (the 'Company' or 'GVF') reported its financial results for the half-year ended 31 December 2025. Revenue from ordinary activities declined 46.42% to $17,395,207, while profit before tax for the period decreased 53.82% to $11,514,618, compared to the prior corresponding period. Profit from ordinary activities after tax attributable to members was $8,702,133, down 50.23%. The Company declared a fully-franked final dividend for FY2025 of 3.30 cents per share, which was paid on 12 November 2025. Since the end of the half-year, the Company has declared a fully-franked interim dividend for FY2026 of 3.30 cents per share to be paid on 15 May 2026. The Company's dividend reinvestment plan will be in effect for the FY2026 interim dividend. Net tangible asset backing per share before tax was $1.32 as at 31 December 2025, compared to $1.35 a year earlier. The portfolio generated an adjusted NTA return of 4.4% over the December half-year, with a large portion of returns coming from the Company's discount capture strategy.

The Company notes that US share markets are trading at near-record valuation levels, which could lead to lower long-term returns. However, the US economy remains in strong health, with robust earnings growth. The Company is focused on actively unlocking value within its portfolio holdings, rather than relying on market movements.