H&G High Conviction Limited Maintains Stable NTA of $0.011 Per Share as of March 31, 2026

Stable Monthly NTA Underscores Consistent Portfolio Performance

H&G High Conviction Limited reported a steady net tangible asset backing per share of $0.011 for the month ending 31 March 2026. The identical NTA figures before deferred tax and after all taxes indicate no significant changes in asset values or tax liabilities during the period. This stability suggests minimal net appreciation or depreciation within the company’s listed investment holdings over the one-month timeframe.

The unchanged NTA from February to March 2026 offers investors transparency into the company’s monthly net asset tracking. Given the exposure to listed securities, market fluctuations typically influence month-to-month NTA variations. The consistent tax-adjusted and unadjusted NTA values highlight balanced portfolio performance relative to market conditions, with no substantial gains or losses necessitating tax provision changes.

Valuation Approach Utilizing Last Sale Prices

H&G High Conviction Limited confirmed that its net asset value calculations are based on last sale prices for its listed investments. This method uses the most recent transaction prices to provide an up-to-date and objective valuation of the portfolio. Employing last sale prices is a standard practice among listed investment companies to ensure NTA figures accurately reflect current market realities.

The company’s monthly NTA figures are unaudited, consistent with industry norms for regular compliance reporting under ASX Listing Rule 4.12. Management prepares these figures using market data without formal external audit verification. Investors should consider this when assessing the reported numbers, which represent management’s calculated position rather than audited financial statements. Full audited accounts are typically provided in annual reports.

Compliance with ASX Listing Rule 4.12 on Monthly NTA Reporting

Disclosure of monthly NTA backing per share by H&G High Conviction Limited fulfills ASX Listing Rule 4.12 requirements, mandating regular reporting of net tangible asset positions by listed investment companies. This rule enhances investor visibility into the asset value underpinning each share, supporting informed investment decisions. The company’s adherence to this rule demonstrates its commitment to transparency and timely communication of key financial metrics.

Monthly NTA reporting offers investors frequent updates on portfolio valuation, supplementing quarterly and annual disclosures. For listed investment companies, the NTA is a vital performance indicator, enabling shareholders to assess whether the market price reflects a premium or discount relative to net asset backing. This transparency fosters efficient secondary market pricing and aids investor decision-making.

Alignment of Pre-Tax and Post-Tax NTA Figures

The equivalence of H&G High Conviction Limited’s NTA before deferred tax ($0.011) and after all taxes ($0.011) indicates that deferred tax assets or liabilities had no material effect on net tangible asset backing as of March 2026. This suggests minimal deferred tax positions or effective offsetting of deferred tax assets against liabilities. The identical pre- and post-tax figures provide clarity that tax-related adjustments do not significantly impact shareholder equity valuations.

For investment companies, differences between pre-tax and post-tax NTA often arise from unrealised capital gains or losses creating deferred tax positions. The parity in this case implies the company’s tax position does not materially affect the net asset value available to shareholders.

Investment Portfolio Focused on Listed Securities

H&G High Conviction Limited operates as an investment company with a core strategy centered on listed securities. Its revenue and value creation depend on the performance, dividend income, and capital appreciation of its listed investments. The company does not generate operational revenue from direct business activities but derives returns from dividends, interest, and gains on its portfolio holdings. This model aligns company performance with market conditions and portfolio management quality.

Providing shareholders with diversified exposure to a professionally managed portfolio, HCF’s head office is located at Level 11, Suite 11.02, 68 Pitt Street, Sydney NSW 2000. By investing in listed securities rather than direct business interests, HCF offers investors an alternative to direct equity selection, combining professional management and diversification benefits. Shareholder returns are driven by capital growth and income from the underlying listed investments.

Context of March 2026 Reporting Period and Market Conditions

The reported NTA as of 31 March 2026 captures H&G High Conviction Limited’s portfolio valuation at a specific point within the Australian financial year. The stable NTA during this period reflects portfolio performance relative to market conditions in late March 2026. Investors should interpret single-month NTA figures alongside longer-term trends and historical data for a comprehensive view of the company’s portfolio trajectory.

March 2026 falls near the end of the Australian financial year (30 June), a time that can present various market dynamics affecting portfolio positioning. The unchanged month-on-month NTA suggests portfolio valuations remained stable, with market movements likely offsetting each other or overall conditions being neutral. Investors may track subsequent monthly results to evaluate ongoing portfolio performance relative to longer-term NTA trends.

Investor Contact Details and Company Communication

For further information on H&G High Conviction Limited’s NTA backing, portfolio details, or other inquiries, investors can contact Executive Director Alexander Beard at 0412308263. The company also accepts communications via email at [email protected] and provides additional resources on its website at highconviction.com.au. This direct access to management underscores the company’s dedication to investor engagement and transparent communication of financial metrics.

Providing management contact information aligns with best governance practices for listed companies, ensuring shareholders have direct channels for information and clarification. The company’s website and contact points facilitate access to regulatory filings, corporate updates, and management communications. Regular investor engagement supports market transparency and efficient capital market operations.