Half-yearly Report and Financial Statements 2026

Original source on investegate.co.uk

GCP Asset Backed Income Fund Ltd

15 September 2026

GCP Asset Backed Income Fund Limited

(the "Company" or "GCP Asset Backed")

LEI: 213800FBBZCQMP73A815

Half-yearly report and unaudited interim condensed financial statements

for the period ended 30 June 2026

15 September 2026

GCP Asset Backed, which invests in asset backed loans, is pleased to announce the publication of its half-yearly report and unaudited interim condensed financial statements for the period ended 30 June 2026 ("Interim Financial Statements") which are now available on the Company website at: Gravis | Literature (graviscapital.com).

Highlights for the period include:

Dividends of 3.16¹ pence per share declared and paid for the period. Aggregate dividend payments over the last twelve months represent a 9.9% yield on the Company's closing share price at 30 June 2026.

Strong progress continues to be made on the Company's managed wind-down. Material repayments were received in the period allowing a further redemption post period end. Following this redemption, a total of 319.3 million shares have been redeemed since the inception of the realisation programme, returning £266.6 million to shareholders and representing a 75.9% reduction in share capital.

Total NAV return² for the period of (1.8)% (30 June 2025: 1.4%) and total NAV return³ since IPO of 41.7%.

Loss for the period of £2.2 million (30 June 2025: profit of £2.5 million). Further information on financial performance is included on pages 12 and 13of the Interim Financial Statements.

NAV per ordinary share of 70.22³ pence at 30 June 2026, a decrease from the year end. Further information is included in the Investment Manager’s report on pages 6 to 11 of the Interim Financial Statements.

Repayments of £46.4 million received by the Group in the period. Interest amounts of £0.8 million were capitalised in accordance with contractual terms.

Exposure to a diversified, partially inflation and/or interest rate protected portfolio of 14 asset backed loans with a third-party valuation of £61.1 million⁴ at 30 June 2026.

Post period end, the Group received repayments totalling £0.2 million and advanced £0.1 million to an existing asset consistent with the Company’s strategy of supporting portfolio value where it is expected to deliver the best outcome for shareholders over the realisation period.

Post period end, the Company completed its fourth compulsory redemption of ordinary shares, returning £45.0 million to shareholders and reducing the issued share capital. Further information is included on page 36 of the Interim Financial Statements.

On the release of the Interim Financial Statements,Alex Ohlsson, Chairman of GCP Asset Backed, commented:

"The Company remains focused on the managed realisation of its assets and return of capital to shareholders. Since the inception of the realisation programme, the Company has returned £266.6 million to shareholders through the compulsory redemption of 319.3 million shares. In addition, the Company has maintained the payment of regular and stable dividends, with a further £5.4 million paid in the half yearly period, representing 3.16¹ pence per share.

It is the Board's intention to maintain the Company's existing level of dividend of 6.325 pence per ordinary share per annum⁵ whilst the Company remains substantially invested, for as long as is practicable.

On behalf of the Board, I would like to thank our shareholders for their continued support."

1. Total dividends of 3.1625 pence per share includes a quarterly dividend of 1.58125 pence per share for the quarter to 30 June 2026, which was declared post period end.

2. Alternative performance measure - refer to pages 37 and 38 of the Interim Financial Statements for definitions and calculation methodology.

3. Does not include a provision for the dividend in respect of the quarter to 30 June 2026, which was declared and paid post period end.

4. Valuation of the loan portfolio held by the Subsidiary. The Company makes its investments through its wholly owned Subsidiary. Refer to note 1 of the Interim Financial Statements for further information.

5. This is a target only and does not constitute a profit forecast.

For further information, please contact:

Gravis Capital Management Ltd		+44 (0)20 3405 8500
Philip Kent Anthony Curl Cameron Gardner
Barclays Bank plc		+44 (0)20 7623 2323
Dion Di Miceli
James Atkinson
Burson Buchanan		+44 (0)20 7466 5000
Helen Tarbet Henry Wilson Nick Croysdill

Notes to The Editors

GCP Asset Backed Income Fund Limited is a closed-ended investment company. Its shares are traded on the Main Market of the London Stock Exchange. Its investment objective is to undertake a managed wind-down of the Company and realise all existing assets in the Company's portfolio in an orderly manner.

The Company's portfolio comprises a diversified portfolio of predominantly UK based asset back loans which are secured against contracted, predictable medium-to long-term cash flows and/or physical assets.

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