InvesCore NBFI JSC Semi-Annual Operational Report

ICFG Limited
("ICFG" or the "Company", together with its subsidiaries, the "Group")

Principal Subsidiary Semi-Annual Operational Report

ICFG Limited (LON: ICFG), the international financial services group, announces that InvesCore NBFI JSC ("InvesCore"), its 82.59% owned subsidiary listed on the Mongolian Stock Exchange, has published its unaudited Semi-Annual Operational Report for the six-month period ended 30 June 2026.

Click on the following link, or paste it into your web browser, to view the InvesCore Semi-Annual Operational Report: https://issuers.mse.mn/uploads/activityreport/553_20260721173212report_eng.pdf

Financial Highlights

For the six months ended 30 June 2026, InvesCore delivered strong growth across key financial and operational metrics in its microfinance business:

·    Net interest income reached US$ 32.0 million (H1-25: US$ 25.8 million).

·    Gross loan portfolio increased to US$ 321.1 million (FY25: US$ 255.0 million).

·    Profit for the period reached US$ 17.4 million (H1-25: US$ 16.1 million).

·    Central Asia operations recorded an increase in profitability, with profit rising to US$ 1.2 million (H1 2025: US$ 0.6 million).

·    Total equity increased to US$ 108.0 million (FY25: US$ 93.8 million).

Operational Highlights

·    Maintained Market Leadership

InvesCore retained its position as the largest non-bank financial institution ("NBFI") in Mongolia. In Central Asia, InvesCore CA further strengthened its market position and remains the fifth-largest NBFI in the Kyrgyz Republic, reflecting the continued growth and scale of its regional operations.

·    10-Year Anniversary Milestone

In June 2026, InvesCore celebrated its 10th anniversary, marking a decade of operations in Mongolia's financial sector. Over the past 10 years, the company has disbursed more than US$ 4.65 billion in financing to support over 13,000 small and medium-sized enterprises.

·    Asset Quality

Early delinquency indicators showed improvement during the period, with InvesCore's past due loan rate reducing to 13.5% as at June 2026 (FY25: 17.0%), the non-performing loan ratio remained broadly stable at 10.2% (FY25: 9.5%), reflecting a modest increase. The improvement in early delinquency was driven by a significant reduction in loans that were 30 to 90 days past due, supported by the Group's ongoing efforts to strengthen credit underwriting standards, enhancing early-stage collections and structured recovery processes.

·    Network Expansion

To enhance accessibility and customer reach, InvesCore opened a new business centre in Ulaanbaatar and expanded its regional footprint with the establishment of a business centre in Khovd Province, the commercial hub and cross-border centre of western Mongolia. This expansion enables the Group to capture growing demand in the region while further strengthening its nationwide service network.

·    Sustainable Finance Initiatives

As part of its commitment to promoting sustainable finance and inclusive economic growth, InvesCore, in collaboration with the Sustainable Finance Association, launched the Green Growth Loan, a guaranteed financing product tailored for women-owned micro, small and medium-sized enterprises.

·        Fintech Recognition

Pocket NBFI was selected as a finalist in three categories at the Asia Fintech Awards 2026, which recognises leading fintech organisations across Asia for excellence in sustainability, product innovation, competitiveness and leadership.

It should be noted that ICFG expects to publish its unaudited interim results for the 6-month period ending 30 June 2026 prior to 30 September 2026 and will update the market in due course.

Note: MNT figures have been translated at a rate of 3586.11 MNT/US$, being the rate on 22 July 2026

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

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