NAV Calculator

1. GCAP’s holding in Lion Finance Group as of 30 September 2026.
2. Lion Finance Group multiple is calculated based on the latest trading price and LTM 30 September 2026 figures.
3. Private portfolio companies and net other assets are valued as of 30 September 2026, Lion Finance Group is valued at the latest trading price. Net cash is presented as of 6 November 2026.
4. Shares outstanding are stated as of 6 November 2026, net of total unawarded shares in management trust.
5. In 3Q26, our private portfolio companies were valued internally by incorporating the portfolio companies’ 3Q26 results, in line with International Private Equity Valuation (“IPEV”) guidelines and methodology deployed in 1H26 by an independent valuation company, which conducts external valuation assessment of the retail (pharmacy), healthcare services, insurance, renewable energy and education businesses semi-annually.
6. The figure is calculated using GCAP’s latest trading price, GCAP’s holding in Lion Finance Group as of 30 September 2026, and Lion Finance Group’s latest trading price, assuming allocation of net cash to the private portfolio.