Announcement of Interim Results to 30 June 2026

EJF Investments Ltd

22 September 2026

 

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE REPUBLIC OF IRELAND), AUSTRALIA, CANADA, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

22 September 2026

EJF Investments Ltd

("EJFI" or the "Company")

Announcement of Interim Results to 30 June 2026

EJFI, which primarily provides investors exposure to a diversified portfolio of regulated debt issued by smaller U.S. banks and insurance companies, and participation in certain management fee income streams of EJF Capital, today announces the release of its Interim Report and Unaudited Condensed Interim Financial Statements ("the Interim Report") for the period ended 30 June 2026.

Highlights

·    Total Return for the period¹ ended 30 June 2026, inclusive of dividends, of 8.98%;

·    Total Return since inception¹ to 30 June 2026, inclusive of dividends, of 125.17%;

·    NAV as at 30 June 2026 of £99.5 million, being 171 pence per Ordinary Share¹;

·    Share Price Discount to NAV per Ordinary Share¹ as at 30 June 2026 of 24.0%; and

·    Annualised Dividend Yield¹ for the period ended 30 June 2026 of 8.8%.

John Kingston III, Chair of the Board of the Company said: " The Company's underlying portfolio continued to display increasing strength during the first half of 2026, reflected in a Total Return (excluding the impact of FX movements) of 7.75% for the period ended 30 June 2026; including the impact of foreign exchange, the Total Return on a Sterling basis was 8.98%. 

In contrast to 2025, when the strong rally of Sterling against the US Dollar generated significant FX losses, foreign exchange movements in the first half of 2026 contributed 1.23% to the Total Return. The Manager continues to hedge a portion of the Company's USD exposure to reduce the impact of overall FX movements. At 30 June 2026, 46.2% of such USD exposure was hedged. 

The Company paid dividends totalling 5.725 pence per Ordinary Share in respect of the first half of 2026, an increase of 7% on the 5.35 pence paid in the equivalent period of 2025. This is consistent with the FY 2026 Dividend Target of 11.45 pence per Ordinary Share, which, based on the Company's share price at 30 June 2026, represents an Annualised Dividend Yield of 8.8%.

Portfolio highlights for the period include:

·   9.58% gains from Securitisation and Related Investments, including a 1.91% increase attributable to the CDO  Manager valuation following the closing of the TFINS 2026-1 and TFINS 2026-2 securitisations.

·   Completion of two new risk retention investments during the period. In February 2026 the Company invested approximately USD 13.7 million in TFINS 2026-1 and in May 2026 invested approximately USD 13.3 million in TFINS 2026-2. Both investments are expected to generate yields to maturity of approximately 15%.

·    Credit Risk Transfer investments contributed 0.51% to Total Return and represented 5.9% of gross assets at period end. The Company continues to view CRTs as an attractive and growing opportunity.

·    The Company also broadened its investment portfolio through investments in EJF Credit Opportunities Fund II and EJF Financial Services Offshore Fund, increasing exposure to attractive opportunities across the US financial services sector.

The backdrop for smaller US financial institutions remains highly constructive, supported by a positive yield curve, healthy capital levels, improving loan growth and a favourable regulatory environment. While macroeconomic uncertainties remain, we continue to believe the Company is well positioned to generate attractive risk-adjusted returns for Shareholders.

Since inception in April 2017, the Company has delivered a Total Return of 125.17%, more than doubling Shareholder capital, and we remain optimistic about the opportunities ahead."

Post Interim Financial Statements Update

·     Following the period end, on 9 July 2026 the Company invested approximately USD 14.9 million in the CDO Equity  Tranche of TFINS 2026-3, the sixteenth risk retention investment since inception, targeting an approximate yield to maturity of 14%;

·    Dividend of 2.8625 pence per Ordinary Share was paid on 28 August 2026 in respect of the quarter ended 30 June 2026;

·  At the Annual General Meeting and Ordinary Shareholder Class Meeting held on 24 July 2026,  shareholders approved, among other matters, the issuance of up to 7,389,644 Ordinary Shares (approximately 10% of the issued ordinary share capital) and authorised the issuance of an unlimited number of Preferred Shares, subject to a minimum asset coverage issuance test of 2.0x.

·   Following the period end, on 1 July 2026, the Company subscribed for an additional 950,000 ordinary shares in EJF Investments Holdings Limited (EJFIH) for an aggregate subscription amount of £950,000; and

·    On 24 July 2026, EJF Capital Limited, an affiliate of the Manager, purchased 14,376 ordinary shares at a price of £1.35 per share, increasing its holding to 2,110,971 Ordinary Shares (approximately 3.63% of the issued voting share capital).

The Company's Interim Report will shortly be available on the Company's website at https://www.ejfi.com/investors/?category=financial-reports&year=#filter and the National Storage Mechanism at National Storage Mechanism | FCA.

Terms used and not defined in this announcement bear the meaning given to them in the Interim Report.

As announced on 9 September 2026, a results presentation for analysts and institutional investors will take place at 10:00am (BST) on Wednesday, 23 September 2026 via a live webcast. To access the live webcast, please register by contacting your usual representative at Panmure Liberum. Webcast participations will be able to submit questions via a Q&A facility during the webcast.

The results presentation slides will be made available via the Company website at https://www.ejfi.com/investors/?category=investor-presentations&year=#filter.

Additionally, Neal Wilson, Chief Executive Officer of the Investment Manager, will make a live presentation of the Interim Results via Investor Meet Company on Thursday, 24 September 2026 at 11:00am (BST). The live presentation will be open to all existing and potential shareholders. Questions can be submitted pre-event via Investor Meet Company dashboard up until Wednesday, 23 September 9:00am (BST), or at any time during the live presentation.

Investor can sign up to Investor Meet Company for free via: https://www.investormeetcompany.com/ejf-investments-ltd/register-investor.

¹These are APMs as defined on pages 42 and 43 of the Interim Report.

ENQUIRIES

For the Investment Manager

EJF Investments Manager LP

Mungo Hargreaves / Jay Ghatalia 

[e-mail] / [e-mail]

[phone] / [phone]

For the Company Secretary and Administrator

Apex Financial Services (Alternative Funds) Limited

[e-mail]

[phone]

For the Broker

Panmure Liberum

Darren Vickers

[e-mail]

[phone]

Barclays Bank PLC

Dion Di Miceli/Jacob Flitterman

[e-mail]

[phone]

About EJF Investments Ltd

EJFI's objective is to provide shareholders with attractive risk adjusted returns through regular dividends and capital growth over the long term. EJFI generates exposure primarily to a diversified portfolio of loans issued by financial institutions and related or similar assets in the U.S., U.K. and Europe.

EJFI currently invests primarily in CDO Equity Tranches structured by an affiliate of EJF Capital LP, providing levered exposure to a highly diversified portfolio of securities issued by U.S. financial institutions (banks and insurance companies), these being Risk Retention Investments.

EJFI is a registered closed-ended limited liability company incorporated in Jersey under the Companies (Jersey) Law 1991, as amended, on 20 October 2016 with registered number 122353. The Company is regulated by the Jersey Financial Services Commission (the "JFSC"). The JFSC is protected by both the Collective Investment Funds (Jersey) Law 1988 and the Financial Services (Jersey) Law 1998, as amended, against liability arising from the discharge of its functions under such laws.

The JFSC has not reviewed or approved this announcement.

LEI: 549300XZYEQCLA1ZAT25

Investor information & warnings

The latest available information on the Company can be accessed via its website at www.ejfi.com. 

This communication has been issued by, and is the sole responsibility of, the Company and is for information purposes only. It is not, and is not intended to be an invitation, inducement, offer or solicitation to deal in the shares of the Company. The price and value of shares in the Company and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of shares in the Company. An investment in the Company should be considered only as part of a balanced portfolio of which it should not form a disproportionate part. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.

 

END