Custodian Investment Balance Sheet

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	-	412,384	155,659	107,292	50,640	43,526
Investments in Equity & Preferred Securities	15,785	30,172	24,830	10,540	6,062	6,324
Policy Loans	-	166.21	145.44	109.28	98.77	90.43
Total Investments	703,642	643,127	309,529	208,333	151,280	130,238
Cash & Equivalents	163,989	174,183	43,956	25,052	22,045	17,173
Reinsurance Recoverable	23,552	15,016	11,848	7,916	8,801	3,338
Other Receivables	152,742	138,367	3,103	4,309	4,472	2,965
Deferred Policy Acquisition Cost	-	-	-	-	-	784.69
Property, Plant & Equipment	24,915	25,206	14,724	13,900	13,308	4,766
Other Intangible Assets	2,636	2,618	277.27	231.81	239.71	172.49
Restricted Cash	-	-	33.35	6.85	-	3.67
Other Current Assets	2,046	26,319	26,599	6,860	9,395	22,732
Long-Term Deferred Tax Assets	4,985	4,985	2,132	-	-	-
Other Long-Term Assets	30,064	29,000	4,037	3,191	2,672	2,299
Total Assets	1,108,570	1,058,821	416,239	269,800	212,212	184,472
Accounts Payable	92,762	5,030	4,497	3,959	3,201	3,026
Accrued Expenses	-	25,015	21,404	5,058	6,777	5,155
Insurance & Annuity Liabilities	318,771	270,900	195,359	144,510	92,429	66,867
Unpaid Claims	-	-	-	-	10,900	9,755
Unearned Premiums	-	16,942	25,627	14,854	16,948	13,814
Reinsurance Payable	1,111	78.19	379.03	45.34	605.1	529.32
Current Portion of Long-Term Debt	-	54.73	50.07	-	-	-
Short-Term Debt	136,842	233,833	1,950	2,147	2,179	2,517
Current Income Taxes Payable	19,736	16,182	4,310	1,876	3,346	1,942
Long-Term Debt	-	8,920	1,380	-	-	-
Long-Term Deferred Tax Liabilities	4,377	11,093	12,237	7,057	2,067	2,134
Other Current Liabilities	283,106	250,945	7,331	6,588	5,704	3,014
Other Long-Term Liabilities	-	-	-	-	-	8,616
Total Liabilities	856,705	840,275	274,899	188,334	147,311	120,134
Common Stock	2,941	2,941	2,941	2,941	2,941	2,941
Additional Paid-In Capital	6,412	6,412	6,412	6,412	6,412	6,412
Retained Earnings	184,748	169,141	114,344	59,970	45,030	44,614
Comprehensive Income & Other	21,799	20,296	6,680	2,222	1,108	1,189
Total Common Equity	215,900	198,790	130,378	71,545	55,492	55,157
Minority Interest	35,966	19,756	10,961	9,921	9,409	9,180
Shareholders' Equity	251,866	218,546	141,339	81,466	64,901	64,337
Total Liabilities & Equity	1,108,570	1,058,821	416,239	269,800	212,212	184,472
Filing Date Shares Outstanding	5,889	5,882	5,882	5,882	5,882	5,882
Total Common Shares Outstanding	5,889	5,882	5,882	5,882	5,882	5,882
Total Debt	136,842	242,807	3,380	2,147	2,179	2,517
Net Cash (Debt)	27,146	-68,624	40,576	22,905	19,866	14,656
Net Cash Growth	-45.87%	-	77.14%	15.30%	35.55%	114.06%
Net Cash Per Share	4.62	-11.67	6.90	3.89	3.38	2.49
Book Value Per Share	36.66	33.80	22.17	12.16	9.43	9.38
Tangible Book Value	213,264	196,173	130,101	71,313	55,252	54,984
Tangible Book Value Per Share	36.21	33.35	22.12	12.12	9.39	9.35
Machinery	-	13,811	5,683	4,843	4,358	3,421

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.