Publication of monthly factsheet

UIL Limited

13 May 2026

 

13 May 2026

UIL LIMITED

(LEI Number: 213800CTZ7TEIE7YM468)

Publication of monthly factsheet

The latest monthly factsheet for UIL Limited ("UIL" or the "Company") will shortly be available through the Company's website at:

https://www.uil.limited/investor-relations/factsheet-archive

Monthly commentary

PERFORMANCE

UIL's net asset value ("NAV") total return was up by 0.6% in April, compare with the FTSE All Share total return Index which was up by 2.8%. Over the last three months UIL's NAV total return was 12.6% outperforming the FTSE All Share total return Index which was up by 2.1%.

The US-Israeli strikes on Iran and retaliatory actions by Iran, largely paused from 8 April 2026 when a tentative ceasefire came into place. Progress on a possible peace agreement, leading to an early end to the conflict is unpredictable.

April was a positive month for the markets, the S&P 500 Index was up by 10.4% and the Euro Stoxx Index was up by 5.6%. The ASX 200 Index was up by 2.2% and the FTSE 100 Index was up by 2.0% during the month.

Commodity prices were mixed in April with nickel up by 14.0% and copper was up by 5.6%. The gold price was down by 1.1% at USD 4,617.85 and Brent crude oil declined by 3.7% ending the month at USD 114.01.

Sterling appreciated 3.0% against the US Dollar and 0.5% against Canadian Dollar. Whilst the Australian Dollar was down by 1.8% and the New Zealand Dollar declined by 0.2% during the month.

PORTFOLIO UPDATE

UIL's top ten holdings are disclosed on a look through basis, taking into account the underlying

investments of Zeta Resources Limited. There were no changes to the constituents of the top ten holdings during the month.

Horizon Gold remained number one in UIL's look through portfolio despite its share price decreasing 9.4% during April. Utilico Emerging Markets' share price was up by 6.6% in the month.

Roxmore Resources' share price increased by 32.5% in April, as it announced the results of a Preliminary Economic Assessment of its Converse Gold Project on 20 April 2026. This envisages a 14-year, open-pit, heap leach mine producing an average of 246,000 ounces of gold per year, generating an after-tax NPV_5% of USD 2.7bn, IRR of 43%, and 2.2 years payback period, at long term consensus gold price of USD 3,600/oz (increasing to after-tax NPV_5% of USD 4.5bn, IRR of 60%, and 1.6 years payback period, at a spot price of USD 4,700/oz).

MoneyMe was up by 4.9% whilst Alliance Nickel's share price was down by 12.5% during the month.

ORDINARY SHARES

UIL's ordinary share price ended the month at 199.00p, a decrease of 1.0%. The discount to NAV widened from 26.6% to 27.7%.

ZDP SHARES

The 2026 ZDP share price was up by 1.7% at 148.00p and the 2028 ZDP share price was down by 0.4% ending the month at 128.50p.

Name of contact and telephone number for enquiries:

Charles Jillings

ICM Investment Management Limited                                 [phone]

 

END