Revolution Private Credit Income Trust Announces Weekly NTA of $2.0108 Per Unit as of 21 July 2026

Insight into Revolution Private Credit Income Trust's Investment Approach and Market Positioning

Operating as a closed-ended fund, Revolution Private Credit Income Trust grants unitholders direct access to a diversified portfolio of secured, floating-rate loans. Its investment strategy targets high-quality credit opportunities across corporate lending, real estate financing, and asset-backed lending. By concentrating on secured loans with floating interest rates, the trust aims to deliver consistent income distributions while preserving capital stability amid economic fluctuations.

As a private credit vehicle, the trust differentiates itself from traditional fixed-income and equity investments. The private credit market has expanded substantially as institutional and retail investors seek alternatives to public bond markets and traditional bank lending. REV offers liquidity through daily unit pricing and ASX trading, allowing investors to access this asset class conveniently. Diversification across various market segments and borrowers reduces concentration risk, while secured lending offers enhanced downside protection compared to unsecured credit.

Weekly NTA Updates and Commitment to Investor Transparency

The weekly release of NTA estimates underscores the trust’s dedication to transparency and ongoing communication with investors. The NTA of $2.0108 per unit as of 21 July 2026 reflects the tangible asset value backing each unit, providing unitholders with a clear understanding of the trust’s underlying worth and enabling comparison with the ASX trading price. Frequent updates are crucial for funds holding less liquid private credit assets.

These weekly NTA figures are unaudited, consistent with standard practice, with full audited financial statements issued annually or semi-annually. Andrew Godfrey, Director of The Equity Trustees Limited, authorised the release to the ASX. This regular reporting highlights the trust’s governance framework, with The Equity Trustees Limited fulfilling its role as Responsible Entity to protect unitholder interests and ensure compliance with ASX and Australian Financial Services Licence requirements.

Floating-Rate Loan Portfolio and Income Generation Strategy

The trust’s focus on floating-rate secured loans differentiates its income model from fixed-rate credit strategies. Floating-rate loans feature coupon payments that adjust periodically based on reference interest rates plus a credit spread. This mechanism offers protection against inflation and interest rate fluctuations by allowing coupon payments to rise with increasing rates, thereby preserving real returns. For income-focused investors, this provides a natural hedge against unexpected rate changes.

Diversification across corporate, real estate, and asset-backed lending shapes the trust’s income profile. Corporate loans typically support working capital, acquisitions, or refinancing; real estate loans finance property development and acquisition; and asset-backed loans are secured by tangible assets like equipment or inventory. This multi-sector approach captures opportunities across market cycles and mitigates concentration risk. The trust’s emphasis on "high quality" loans indicates a focus on borrowers with strong creditworthiness and collateral coverage, contributing to stable income streams.

Capital Preservation and Risk Management Focus

Alongside income generation, capital preservation is a core objective. The trust invests in secured loans backed by collateral such as real estate or equipment, providing additional protection if a borrower defaults. Secured lending typically yields higher recovery rates than unsecured credit, appealing to conservative investors seeking steady income with less principal volatility than equities or unsecured debt.

The private credit market’s growth reflects investor demand for yield amid low public bond rates and a preference for capital-preserving strategies during uncertain markets. REV’s commitment to capital preservation combined with its liquid structure attracts investors prioritizing reduced capital loss alongside returns exceeding traditional fixed-income options. Weekly NTA reporting offers ongoing insight into the trust’s effectiveness in balancing income and capital stability.

The Equity Trustees Limited as Responsible Entity

The Equity Trustees Limited (ACN 004 031 298, AFSL 240975) serves as Responsible Entity for Revolution Private Credit Income Trust, bearing regulatory and operational duties under Australian financial services law. It manages the trust’s assets per the trust deed and legal requirements, maintains records, prepares financial statements, and ensures ASX compliance. Director Andrew Godfrey’s authorisation of communications reflects the governance structure overseeing market disclosures.

This Responsible Entity framework offers unitholders regulatory oversight and accountability. Holding an AFSL mandates compliance with financial services laws covering conduct, record-keeping, and member protection. This structure differentiates managed funds and provides safeguards unique to the sector. The NTA reporting process exemplifies the Responsible Entity’s obligation to deliver accurate, timely information to investors and the market.

Private Credit Market Trends Supporting REV’s Strategy

Private credit’s rise as a major asset class stems from long-term trends. Post-global financial crisis regulations increased capital requirements for banks, limiting their loan origination and holdings. Concurrently, institutional investors sought higher yields than public bonds amid accommodative monetary policies. These dynamics created opportunities for non-bank lenders offering private credit. REV provides retail investors access to this institutional market through an ASX-listed vehicle.

The expansion of alternative finance channels has reshaped credit intermediation. As banks faced constraints, corporate and real estate borrowers increasingly turned to private credit. Asset-backed lending grew as specialised lenders gained expertise. REV’s diversification across these segments enables participation in multiple secular trends while reducing dependence on any single market. Its ASX-listed, transparent structure makes private credit accessible to investors lacking direct market entry.

Liquidity and Trading Benefits for Unitholders

As an ASX-listed trust, REV offers liquidity advantages over unlisted private credit funds. Unitholders can trade units daily on the ASX at market prices, providing exit flexibility. This accessibility benefits retail investors, as unlisted funds often restrict redemptions or impose liquidity limits. Weekly NTA updates allow investors to evaluate whether units trade at premiums or discounts, informing trading decisions.

Trading on the ASX also enhances pricing transparency and efficiency. Market activity helps align unit prices with available information and performance expectations. In contrast, unlisted private credit funds typically update valuations monthly or quarterly. The combination of ASX listing, weekly NTA disclosures, and regular updates fosters investor confidence and informed choices. Investors can obtain further information via the provided contacts: 1300 441 597 (Australia) and +61 2 8072 1465 (international).

Operational Infrastructure and Investor Communication Channels

Revolution Asset Management Pty Ltd operates from Level 39, 88 Phillip Street, Sydney NSW 2000, with australianrevolutionam.com.au serving as the main information portal. Multiple contact options demonstrate commitment to investor service: toll-free Australian number 1300 441 597, international number +61 2 8072 1465, and email [email protected] provide clear avenues for inquiries. The involvement of Automic Group suggests outsourced support for investor communications and register management.

The weekly NTA release to the ASX forms part of a structured communication strategy to keep investors updated on trust performance and valuation. Timely, regular valuation disclosures promote confidence by evidencing active management and transparency. This frequency indicates robust systems for portfolio valuation and pricing, essential for managing diversified loans amid daily fluctuations in credit spreads, interest rates, and portfolio composition.

Benefits of Floating-Rate Loans Amid Interest Rate Changes

Focusing on floating-rate loan structures is especially relevant given current economic conditions. Floating-rate securities feature coupon payments that reset periodically based on reference rates like bank bills or SOFR plus a credit spread. This design shields lenders from interest rate risk, as coupons adjust automatically with rate changes. With central banks having raised rates significantly from historic lows, floating-rate exposure offers income that rises alongside elevated reference rates, providing a natural hedge against inflation and normalization.

For income-focused investors, floating-rate loans deliver superior inflation protection compared to fixed-rate instruments. As inflation diminishes purchasing power, coupon payments adjust upward, maintaining real returns. This appeals to retirees and fixed-income investors aiming to preserve purchasing power over time. REV’s combination of floating-rate exposure, secured lending for capital preservation, and multi-sector diversification positions it to offer relatively stable real returns across economic cycles. The current NTA per unit of $2.0108 reflects the valuation of this income-generating portfolio.