Royal Exchange Balance Sheet

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Investments in Debt Securities	-	-	143.54	-	-
Investments in Equity & Preferred Securities	7,647	-	6,617	5,729	5,081
Other Investments	600	-	-	-	-
Total Investments	8,304	-	6,817	5,779	5,111
Cash & Equivalents	2,326	-	1,158	470.71	608.57
Other Receivables	1,073	-	796.33	1,026	1,244
Property, Plant & Equipment	183.43	-	20.46	14.53	18.38
Other Current Assets	65.04	-	209.57	295.03	167.14
Other Long-Term Assets	203.83	-	203.83	485.7	478.91
Total Assets	12,155	-	9,205	8,070	7,628
Accrued Expenses	-	-	209.62	182.29	94.62
Current Income Taxes Payable	14.98	-	30.83	240.39	234.7
Long-Term Debt	1,647	-	1,122	1,835	544.78
Long-Term Leases	-	-	0.17	0.17	0.17
Other Current Liabilities	-	-	350.62	479.2	1,645
Other Long-Term Liabilities	3,283	-	1,236	1,537	3,013
Total Liabilities	4,945	-	2,949	4,279	5,523
Common Stock	4,133	-	4,133	2,573	2,573
Additional Paid-In Capital	2,691	-	2,691	2,691	2,691
Retained Earnings	431.07	-	-522.82	-1,427	-3,107
Comprehensive Income & Other	-45.52	-	-45.52	-45.52	-51.63
Total Common Equity	7,210	-	6,256	3,792	2,105
Shareholders' Equity	7,210	-	6,256	3,792	2,105
Total Liabilities & Equity	12,155	-	9,205	8,070	7,628
Filing Date Shares Outstanding	-	-	8,267	5,145	5,145
Total Common Shares Outstanding	-	-	8,267	5,145	5,145
Total Debt	1,647	-	1,122	1,835	544.95
Net Cash (Debt)	679.25	-	35.73	-1,364	63.63
Net Cash Per Share	0.00	-	0.00	-0.27	0.01
Book Value Per Share	-	-	0.76	0.74	0.41
Tangible Book Value	7,210	-	6,256	3,792	2,105
Tangible Book Value Per Share	-	-	0.76	0.74	0.41
Machinery	-	-	183.2	183.87	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.