Title: 241076339.pdf URL Source: https://documentscdn.financialexpress.net/Literature/880F923AF09D1556E5B5E801AD4EC7EC/241076339.pdf Number of Pages: 4 Markdown Content: Q1 2026 | Factsheet for the three months to 31 March 2026 Published on 24 April 2026 Helping to build great businesses Our purpose is to invest in and support UK companies and help their management teams to achieve long-term success. Our closed-ended, permanent capital structure means we can be a long-term, highly ambitious partner. We are focused on smaller businesses, where our expertise can greatly enhance the size and value of these companies, contributing to superior returns for BOOK shareholders. We are also proud to have a charitable mission helping disadvantaged children in the UK learn to read. Donations equivalent to 0.5% of NAV are made each year. Donations since the set up of Literacy Capital in 2017 now amount to £13.1 million. Performance to 31 March 2026 Key facts on 31 March 2026 # 481.3 p NAV per ord. share 1 # £ 364 k Q1 charitable donation provision # £ 3.7 m Capital invested # (4.0) % Change in NAV per Share 2 in last 12 months # £ 16.0 m Proceeds received # (0.6) % Q1 NAV per share Breakdown of gross assets 3 by asset type Buyout £292.6m 95.3% Growth Capital £5.3m 1.7% 3rd Party Funds £9.3m 3.0% % total return 3 months 1 year 3 years Since Admission 4 Since Inception 5 BOOK net assets per share 2 (0.6)% (4.0)% +5.1% +205.9% +391.3% BOOK total shareholder return (14.8)% (22.6)% (16.7)% +109.4% n/a FTSE investment company index (3.7)% +16.1% +29.4% +12.5% +66.7% FTSE all-share index +2.4% +21.5% +45.6% +58.3% +74.9% > 1 Net assets per share calculated post dilution from the warrants in issue, which is calculated on a straight-line basis over the vesting period. This allows a single NAV figure to be reported (rather than diluted & undiluted figures). > 2 The figures presented are the diluted NAV per share inclusive of the cash returned to shareholders. > 3 Gross assets of £307.2m, before borrowings, compared to net assets of £289.6m. All figures and percentages rounded to one decimal place. > 4 BOOK was admitted to the London Stock Exchange on 25 June 2021. > 5 Inception date treated as 30 April 2018. £54 million of capital raised. > 6 Excludes warrants in issue (597,500 allotted on 31 March 2026). Net assets 1 £289.6 million Net assets per ord. share 1 481.3p Share price (mid-price) 325.0p Premium / (discount) (32.9)% Management fee 1.5% Trading on Specialist Fund Segment (SFS) of the LSE Ticker BOOK Ordinary shares in issue 6 60,175,000 ISIN GB00BMF1L080 A message from the CEO of BOOK’s Investment Manager “It has been a reasonably eventful start to the year, although there has been relatively little change in the value of individual portfolio companies, and the portfolio overall. The highlight was the sale of two holdings, with £31.0m of cash proceeds received by early April. This put Literacy’s balance sheet in a net cash position for the first time since 2021, giving BOOK greater financial flexibility and reducing financing costs. Externally, there has been significant turbulence in equity markets, driven by the conflicts in Iran and the Middle East, as well as fears of widespread value destruction caused by artificial intelligence (“AI”). Importantly, these factors have had limited direct impact on the underlying performance and fundamentals of BOOK’s portfolio companies. Despite this, BOOK has not been immune to the sell-off and currently sits on its widest ever discount to net asset value. A series of marketing and investor education initiatives are taking place over the next few weeks to broaden awareness, as we actively look to address and reduce this discount.” Richard Pindar CEO of the Investment Manager and Director Literacy Capital plc Summary of Q1 performance On 31 March 2026, net asset value (NAV) was £289.6m, or 481.3p per share. Overall, despite a modest valuation uplift across the portfolio, NAV per share decreased by 0.6% in the quarter (after all expenses and donations). Bright Ventures contributed the most meaningful NAV uplift, with Q1 seasonally being a very busy trading period for the business. Performance and profitability in the quarter showed strong improvement year-on-year. TechPoint delivered the next largest positive contribution, reflecting the strong momentum since opening its new manufacturing site in Basingstoke. This has had a material impact on the value of orders from customers and operational efficiencies. These gains were partially offset by relatively modest reductions in RCI Group and amplify5. Both businesses have experienced customers taking longer to make decisions and commit to contracts, which has impacted their growth and, therefore, valuations. Encouragingly, the two 2025 investments, Red Sky and Trinitatum, continue to demonstrate strong momentum. It is likely that they will both be top 10 holdings as at 30 June and are expected to contribute positively in 2026. Total shareholder return was (14.8)% in Q1, with many listed investment companies experiencing strong share price declines, following the market turbulence caused by the conflict in the Middle East and investors’ concerns regarding artificial intelligence. New investments and commitments No new platform investments were completed in the period. New investments are continually appraised. However, the team is especially selective and focused on businesses considered to be particularly resilient in the current environment. £3.7m was invested in Q1, primarily provided to the existing portfolio to fund growth initiatives. Bolt-on acquisitions are expected to remain a priority in 2026 and may require follow-on shareholder funding to complete. Cash generation and liquidity £16.0m was received in Q1, mostly comprised of proceeds from the sale of Tyrefix in February. This cash was used to repay amounts drawn on the RCF, reducing financing costs. On 31 March, the RCF was drawn £15.5m, with £1.6m held in cash. Activity since the period end No events occurred between the end of Q1 and the publication of the factsheet requiring reported NAV to be restated. £15.0m was received in April courtesy of the Wifinity sale, which further reduced the amount drawn on the RCF post the quarter-end. The carrying value of Wifinity at 31 March 2026 reflects the sale price. # “When you’re reading it’s like you’re in another world.” Child at Bookmark partner school. In England, 1 in 4 children leave primary school unable to read well, rising to more than 1 in 3 in disadvantaged communities. By the time these children leave primary school, the attainment gap between disadvantaged pupils and their peers has more than doubled. Literacy Capital’s partnership with Bookmark is crucial to ensure every child can read and achieve their potential. In Q1, Bookmark delivered over 9,000 hours of one-to-one literacy support to children at risk of falling behind. January saw the launch of the National Year of Reading and Bookmark’s Mind the Gap campaign, raising awareness of the literacy gap, its causes, and solutions. The campaign included adverts across London Underground stations and a panel event at Bank of America, featuring BBC’s The One Show presenter Alex Jones, Hannah Gold, and Bookmark CEO, Emily Jack. In March, the team celebrated the expansion of the Roots to Reading Programme to 127 primary schools across London. By delivering more than 25,000 books and reading resources into classrooms and libraries, the programme aims to build a lifelong love of reading in every child. Visit bookmarkreading.org to learn more. + 16 % YoY EBITDA growth # 9.2 x EV / Earnings 2 # 19.2 % EBITDA margins # 3,932 Total headcount Top 10 investments 1 Portfolio overview Breakdown of movement in Q1 by assets (before costs) Portfolio highlights Revenue and EBITDA growth metrics showed improvement in the quarter, with Red Sky and Tech Point contributing most strongly. The figures returned to double digit growth but remained below historical averages, reflecting the difficulties in creating strong organic growth in the current trading environment. A 2.3% reduction in headcount across BOOK’s top 10 holdings was reported, compared to three months earlier. However, this drop is wholly attributable to Tyrefix no longer being a top 10 holding, following its sale, and being replaced by Antler Homes (which has 130 fewer employees). Similarly, this same change in composition of the top ten, accounts for most of the reduction in EBITDA margin quarter-on-quarter. The concentration of the top 10 holdings remains broadly unchanged at 84.4% in Q1 versus 82.8% in Q4 2025, with some movement in relative weightings. Net debt within the portfolio Net debt (on a weighted average basis) of 2.7x EBITDA on 31 March 2026 was broadly consistent with the end of Q4 (2.8x). This level of leverage remains prudent relative to typical PE-backed businesses. As performance across the portfolio strengthens, supported by a disciplined focus on strategic bolt-on M&A activity, we expect average net debt across the portfolio to decline. Portfolio valuation The weighted average EV / EBITDA multiple was 9.2x on 31 March 2026 (9.4x at the end of Q4 2025), which is the lowest figure since Q1 2025. The EBITDA multiple used for each portfolio company is applied to an earnings figure for the business that is deemed to be ‘maintainable’, in line with IPEV Valuation Guidelines. # + 14 % YoY sales growth # 2.7 x Net debt / EBITDA 2 £3.2m £3.0m (£3.2m) (£2.5m) > (£0.3m) Bright Ventures Tech Point RCI Group amplify5 Other > 1Data calculated on a weighted average basis (excl. headcount) > 2Excludes Antler Homes Companies / assets Description Date of investment Carrying value (£m) Value as % of NAV RCI Group Healthcare, specialist clinical & support services Sep 18 73.2 25.3% TechPoint Electronics manufacturer & supply chain solutions Jun 20 26.2 9.0% Cubo Work Office and co-working space provider May 23 25.1 8.7% Velociti Solutions Provider of transportation software Feb 20 24.8 8.6% Oxygen Activeplay Operator of trampoline & adventure parks Jul 21 18.5 6.4% Top 5 investments 167.8 57.9% Red Sky Food Group Manufacturer of premium meat products Apr 25 18.2 6.3% Grayce Change & transformation for organisations Jul 18 16.1 5.5% Wifinity Wi-fi provider to hard-to-reach campus locations Dec 17 15.4 5.3% Bright Ventures School travel operator Jun 22 14.9 5.1% Antler Homes Housebuilder in the Southeast of England Jun 18 12.2 4.2% Top 10 investments 244.6 84.4% Other direct investments 53.3 18.4% Private equity fund interests 9.3 3.2% Borrowings (incl. donation provision & impact of warrants) (17.6) (6.1)% Total Net Asset Value 289.6 100% This document is issued by and has been approved for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 by Book Asset Management LLP (the "Investment Manager"). The Investment Manager is registered in England and Wales (number: OC425626) and is authorised and regulated by the Financial Conduct Authority (FRN: 914046). Its registered office is at Third Floor, Charles House, 5-11 Regent Street St James's, London, United Kingdom, SW1Y 4LR. The Investment Manager only acts for Literacy Capital plc (the "Company") to which it provides regulated investment management and transaction services and does not act for or advise potential investors in connection with acquiring shares in the Company and will not be responsible to potential investors for providing them with protections afforded to clients of the Investment Manager. Prospective investors are strongly advised to take their own legal, investment and tax advice from independent and suitably qualified advisers. The value of investments may go up as well as down and you may not get back the full amount of your investment. Past performance is not a guide to future performance. This document contains only summary information and is incomplete. The information and opinions contained in this document are provided as at the date of the document and are subject to change and no representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information contained herein and, save in the case of fraud, no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) is or will be accepted by the Investment Manager or the Company or by any of their respective directors, partners, officers, employees or advisers ("Affiliates") in relation thereto. All projections, estimations, target returns and the like in this document are illustrative exercises involving significant elements of judgement and analysis and using the assumptions described herein, which assumptions, judgements and analyses may or may not prove to be correct. The actual outcome may be materially affected by changes in, for example, economic and/or other circumstances. Each of the Investment Manager, Disclaimer the Company and their respective Affiliates expressly disclaims any and all liability which may be based thereon. In particular, no representation or warranty is given as to the achievement or reasonableness of future projections, estimates, or target returns, if any. Any views contained herein are based on financial, economic, market and other conditions prevailing as of the date of this document. The information contained in this document will not be updated. This document may not be published, distributed or transmitted by any means or media, directly or indirectly, in whole or in part, in or into the United States. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and will not be offered, sold, exercised, resold, transferred or delivered, directly or indirectly, in or into the United States or to, or for the account or benefit of, any US person (as defined under Regulation S under the US Securities Act). The Company has not been, and will not be, registered under the U.S. Investment Company Act of 1940, as amended. Neither this document nor any copy of it may be: (i) taken or transmitted into or distributed in any member state of the European Economic Area, Canada, Australia or the Republic of South Africa or to any resident thereof, or (ii) taken or transmitted into or distributed in Japan or to any resident thereof. Any failure to comply with these restrictions may constitute a violation of the securities laws or the laws of any such jurisdiction. The distribution of this document in other jurisdictions may be restricted by law and the persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. By accepting this document, you agree to be bound by the foregoing provisions, limitations and conditions and, in particular, you have represented, warranted and undertaken that you have read and agree to comply with the contents of this notice including without limitation the obligation to keep the information given in this document and its contents confidential. Contact information Literacy Capital plc, 3rd Floor, Charles House, 5-11 Regent Street St. James’s, London, SW1Y 4LR The Q2 2026 factsheet and next update to NAV will be published on Monday 27 July, please visit: www.literacycapital.com/investors 020 3960 0280 | www.literacycapital.com