Annual Financial Report

Summary by AI ^BETAClose X

Fair Oaks Income Limited reported its annual results for the year ended 31 December 2025, showing a Net Asset Value (NAV) return per Ordinary Share of 5.49%, down from 14.91% in the prior year, and a NAV return per Realisation Share of 9.27%, also down from 17.35%. The company's total market capitalisation stood at US$196.3 million, with Ordinary Shares at US$187.5 million and Realisation Shares at US$8.8 million. Ordinary Shares closed at US$0.4800, trading at an average discount to NAV of 0.45%, while Realisation Shares closed at US$0.4550, trading at an average premium to NAV of 0.4%. Dividends declared remained consistent at 8.00 US cents per share for both share classes.

Disclaimer*

Fair Oaks Income Limited

21 April 2026

FAIR OAKS INCOME LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

Annual Financial Report

Fair Oaks Income Limited (the "Company") is pleased to release the Annual Report and Audited Financial Statements for the year ended 31 December 2025.

Highlights

The Company's Net Asset Value ("NAV") return per Ordinary Share (previously known as 2021 Shares) was 5.49% (31 December 2024: 14.91%) for the year ended 31 December 2025 on a total return basis (with dividends reinvested). The NAV return per Realisation Share was 9.27% (31 December 2024: 17.35%) for the year ended 31 December 2025 on the same basis.

As at 31 December 2025, the Company's total market capitalisation was US$196.3 million, comprising US$187.5 million of Ordinary Shares and US$8.8 million of Realisation Shares.

The Company's Ordinary Shares closed at a last-price of US$0.4800 on 31 December 2025 (31 December 2024: US$0.5400). The Ordinary Shares traded at an average discount to NAV of 0.45% during the year ended 31 December 2025 (31 December 2024: Average discount 1.5%).

The Company's Realisation Shares closed at a last-price of US$0.4550 on 31 December 2025 (31 December 2024: US$0.5710). The Realisation Shares traded at an average premium to NAV of 0.4% during the year ended 31 December 2025 (31 December 2024: Average discount 0.7%).

The Company declared dividends of 8.00 US cents per Ordinary Share and Realisation Share in the year ended 31 December 2025 (31 December 2024: 8.00 US cents per Ordinary Share and Realisation Share).

Click on, or paste the following link into your web browser to view the associated PDF document.

https://www.fairoaksincome.com/investors/documentation/2026

LEI: 2138008KETEC1WM5YP90

Enquiries:

Fair Oaks Income Limited

Email: contact@fairoaksincome.com

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: +44 (0) 20 3034 0400

Email: ir@fairoakscap.com

Apex Fund and Corporate Services (Guernsey) Limited

Email: fairoaksgrp@apexgroup.com

Deutsche Numis | Deutsche Bank AG

Nathan Brown / Matt Goss, Investment Banking

DDI: +44 (0) 20 7547 0569

Email: n.brown@dbnumis.com / matt.goss@dbnumis.com

Panmure Liberum Limited

Chris Clarke, Investment Banking

DDI: +44 (0) 20 3100 2190

Email: Chris.Clarke@panmureliberum.com

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through FOIF II LP and FOMC LP) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing.

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