Update from QuotedData

Pantheon Infrastructure - Update from QuotedData

29^th July 2025

Fuel for (AI powered) thought

Pantheon Infrastructure's (PINT) portfolio is focused on areas of secular growth. It helps both enable and take advantage of technological progress and global connectivity. It is also supporting the shift towards more sustainable energy generation. The success of its approach is particularly evident in the area of data centres - the focus of much of this note - where PINT is directly exposed to the voracious demand for energy to power the unfolding Artificial Intelligence (AI) revolution. AI models and infrastructure will require immense computational power, driving energy demand, particularly in the US.

Investors are beginning to take more notice of this opportunity. PINT's net asset value (NAV) returns have been strong since its launch in late 2021, at 27.9% (to 30 June 2025, based on Morningstar NAV estimate). The share price, however, suffered along with all infrastructure investments during much of 2022 and 2023, as rising interest rates reduced the attractiveness of assets with long-term return profiles (as higher rates make the discounted value of future income less compelling). However, more recently, with rates lower and more stable, PINT's share price has rallied, helped by a rapidly narrowing discount (the difference between share price and NAV per share).

Full Research:

https://quoteddata.com/research/pantheon-infrastructure-fuel-for-ai-powered-thought-qd/

This research is also available free on our website www.quoteddata.com where you will also find news, performance data and factsheets on every London listed Investment Company. QuotedData writes and distributes research on a number of quoted companies, facilitates meetings between those companies and existing and potential investors and assists in raising additional capital where required.

NB: Marten & Co was paid to produce this note Pantheon Infrastructure Limited, and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.

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