Release of HY26 Financial Statements

• Funds management income of $18.3 million, with recurring funds management income of $17.4 million
• Core Earnings loss of $8.9 million, significantly impacted by increased cost of capital
• NTA per security of $0.01, materially impacted by short-term bridging finance structure

Elanor Investors Group ('ENN' or 'Group') has confirmed its financial results for the half-year ended 31 December 2025. The Group generated funds management income of $18.3 million, with recurring funds management income of $17.4 million. This represents a 25% decrease on the prior comparative period, reflecting managed fund divestments and the unwinding of the Challenger Life mandate. Recurring funds management EBITDA was $3.7 million, including the positive impact of significantly reduced corporate costs of $13.7 million for the period. The Group reported a Core Earnings loss of $8.9 million, significantly impacted by the increased cost of capital during the period from the Group's short-term bridging finance structure. Borrowing costs increased to $10.9 million for the period. NTA per security was $0.01, materially impacted by the costs of the Group's short-term bridging finance structure, asset realisations and the valuation of managed fund co-investment holdings. Funds Under Management decreased from $5.5 billion to $2.7 billion, reflecting the unwinding of the Challenger mandate and the divestment of certain retail, commercial and hotel assets. The Group's key focus is on stabilising the balance sheet, with a $125 million recapitalisation with Rockworth Capital Partners underway and the acquisition of Firmus Capital to expand growth opportunities in Asia.

The Group has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The Group's key focus is on stabilising the balance sheet, with a $125 million recapitalisation with Rockworth Capital Partners underway and the acquisition of Firmus Capital to expand growth opportunities in Asia. The Group is also executing cost management initiatives to streamline operations and align the business operating model to sector-focused teams, delivering material and sustainable efficiencies and significant reductions in corporate costs.