Spheria Emerging Companies estimates pre-tax net tangible assets at $2.603

Spheria Emerging Companies Limited announced an estimated pre-tax Net Tangible Asset (NTA) backing of $2.603 per share as of December 15, 2025. This figure is unaudited and approximate, calculated based on the daily value of the company's investment portfolio and cash balances.

The NTA per share estimate also accounts for adjustments related to management fees, performance fees, and estimated movements in operating costs and income taxes since the most recently reported weekly or monthly NTA.

The pre-tax NTA includes tax on realised gains/losses and other earnings but specifically excludes any provision for tax on unrealised gains/losses. Furthermore, NTA calculations do not include deferred tax assets linked to capitalised issue cost related balances and income tax losses. The announcement was authorised by company secretary Terence Kwong on December 16, 2025.