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 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	131.43	143.54	-	-	195.09
Investments in Equity & Preferred Securities	7,549	6,617	5,729	5,081	4,689
Total Investments	8,355	6,817	5,779	5,111	5,329
Cash & Equivalents	2,067	1,158	470.71	608.57	620.56
Other Receivables	805.97	874.48	1,026	1,244	1,164
Deferred Policy Acquisition Cost	-	-	-	-	0.39
Property, Plant & Equipment	184.31	20.46	14.53	18.38	37.13
Other Intangible Assets	-	-	-	-	9.8
Other Current Assets	456.04	166.6	295.03	167.14	6,835
Long-Term Deferred Tax Assets	-	-	-	-	201.59
Other Long-Term Assets	135	168.65	485.7	478.91	65.09
Total Assets	12,004	9,205	8,070	7,628	14,263
Accrued Expenses	136.64	349.6	182.29	94.62	434.47
Unpaid Claims	-	-	-	-	127.56
Unearned Premiums	-	-	-	-	5.82
Short-Term Debt	-	-	-	-	2,052
Current Income Taxes Payable	35.74	30.83	240.39	234.7	240.08
Long-Term Debt	1,691	1,122	1,835	544.78	361
Long-Term Leases	-	0.17	0.17	0.17	-
Long-Term Deferred Tax Liabilities	-	-	-	-	29.73
Other Current Liabilities	2,285	719.27	479.2	1,645	8,082
Other Long-Term Liabilities	711.6	630.75	1,537	3,013	920.63
Total Liabilities	4,896	2,949	4,279	5,523	12,254
Common Stock	4,133	4,133	2,573	2,573	2,573
Additional Paid-In Capital	2,691	2,691	2,691	2,691	2,691
Retained Earnings	328.61	-522.82	-1,427	-3,107	-3,369
Comprehensive Income & Other	-45.52	-45.52	-45.52	-51.63	-2.41
Total Common Equity	7,107	6,256	3,792	2,105	1,892
Minority Interest	-	-	-	-	117.25
Shareholders' Equity	7,107	6,256	3,792	2,105	2,009
Total Liabilities & Equity	12,004	9,205	8,070	7,628	14,263
Filing Date Shares Outstanding	8,267	8,267	5,145	5,145	5,145
Total Common Shares Outstanding	8,267	8,267	5,145	5,145	5,145
Total Debt	1,691	1,122	1,835	544.95	2,413
Net Cash (Debt)	375.87	35.73	-1,364	63.63	-1,792
Net Cash Growth	951.91%	-	-	-	-
Net Cash Per Share	0.05	0.00	-0.27	0.01	-0.35
Book Value Per Share	0.86	0.76	0.74	0.41	0.37
Tangible Book Value	7,107	6,256	3,792	2,105	1,882
Tangible Book Value Per Share	0.86	0.76	0.74	0.41	0.37
Machinery	269.66	183.2	183.87	-	390.26

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