Core Insights - Volta Finance reported a net performance of -0.8% for August 2025, with a year-to-date performance of +3.2%, underperforming compared to US High Yield and Euro High Yield returns of +6.3% and +4.0% respectively [4][5] Performance and Economic Context - Economic indicators showed a mixed picture in August, with weak labor market signals and high valuations in the tech sector raising concerns about economic momentum [5] - Inflation data remained elevated but aligned with expectations, leading to speculation about potential Federal Reserve rate cuts [5] - The Bank of England surprised markets with a rate cut to 4%, the lowest in over two years, amid ongoing inflation and political uncertainty [5] - Credit markets remained stable, with minor changes in spreads for Itraxx Xover and CDX indices [5] Loan and CLO Market Activity - The loan market saw significant repricing, with 28% of the market repriced year-to-date, resulting in approximately 20 basis points of spread compression [6] - Volta received an early redemption of approximately €7 million from a European CLO Equity position and reinvested €5.7 million into a Euro CLO debt tranche [7] Portfolio Performance - Volta's CLO Equity tranches returned -1.1%, while CLO Debt tranches returned +1.2% [8] - The EUR/USD exchange rate shift impacted long dollar exposure, contributing to a performance decline of -0.34% [8] Financial Position - As of the end of August 2025, Volta's Net Asset Value (NAV) was €271.8 million, equating to €7.43 per share [9] - Cash flow generation remained stable at €28 million equivalent in interest and coupons over the last six months, representing nearly 21% of August NAV on an annualized basis [7]

Core Viewpoint - Volta Finance Limited reported a net performance of +2.48% for July 2025, contributing to a total net performance of +13.9% for the financial year from August 2024 to July 2025, outperforming US High Yield and Euro High Yield indices which returned +8.6% and +8.1% respectively [4][5][6]. Performance and Portfolio Activity - The company achieved a net performance of +2.48% in July, including a dividend payment of 15.5 cents per share [4]. - The financial year net performance from August 2024 to July 2025 stands at +13.9% [4]. - The US High Yield market returned +8.6% and Euro High Yield returned +8.1% during the same period [4]. - Economic indicators showed a mixed but generally positive outlook, with robust labor market conditions and strong corporate earnings, particularly in the technology sector [5][6]. - Inflationary pressures are evident, with the core Personal Consumption Expenditures (PCE) index rising 2.8% year-over-year [6]. - Volta's cash flow generation remained stable at €28 million equivalent in interest and coupons over the last six months, representing close to 21% of July's NAV on an annualized basis [8]. Market Conditions - July saw strong market performance driven by positive trade negotiations and resilient economic indicators, although caution remained due to ongoing tariff negotiations with China [5]. - Loan and CLO issuance remained active despite low M&A volumes, with US loan market indices recording a performance increase of +0.88% and European market indices increasing by +0.55% [7]. - Volta received early redemptions from CLO debts (approximately €5 million) and CLO equities (approximately €2 million equivalent) [8]. Portfolio Composition - As of the end of July 2025, Volta's NAV was €274.2 million, equating to €7.49 per share, an increase of 36 cents from July 2024 [10]. - CLO Equity tranches returned +5.2% while CLO Debt tranches returned +0.6% during the month [9]. - Cash stood at 17% at the end of July, providing the company with liquidity to capitalize on attractive entry points in the market [8].

Performance Overview - In June 2025, Volta Finance achieved a net performance of +0.4%, bringing the cumulative performance from August 2024 to +11.2% [4] - The portfolio's CLO Debt and CLO Equity assets delivered positive returns amid a favorable credit market environment following previous volatility [4] Market Context - June saw a "risk on" environment with strong gains in U.S. equity markets and a significant weakening of the US Dollar, driven by easing trade tensions and moderating inflation [5] - The Federal Reserve maintained interest rates at 4.25%-4.50% during their June meeting, despite inflation nearing target levels [5] - In Europe, major indices ended the month flat, with the ECB cutting rates by 25 basis points and signaling a likely pause in future cuts as eurozone inflation returned to 2% [5] Credit Market Activity - Credit markets remained resilient, with the European High Yield index (Xover) settling at 283bps, down from 300bps, indicating a tight market [7] - US High Yield returned +1.9% for the month, while Euro Loans and US Loans returned +0.13% and +0.80%, respectively [7] Portfolio Composition - The median CCC assets exposure in CLO portfolios was stable at 4.5% in the US, slightly above the 4.1% exposure in European CLOs [8] - Loan maturity walls are transitioning towards 2030 and beyond, with significant refinancing deadlines in 2028 and 2031 in the US [8] Investment Activity - The month was active with CLO debt redemptions of €4.8 million, and the company replaced risk to maintain overall exposure [9] - Cash stood at 11% at the end of June, with cashflow generation slightly up at €28.3 million over the last six months, representing close to 21% of June's NAV on an annualized basis [9] Performance of Asset Classes - Volta's CLO Equity tranches returned +1.6%, while CLO Debt tranches returned +1.0% [10] - The EUR/USD exchange rate move to 1.18 impacted long dollar exposure performance by 0.4% [10] Net Asset Value - As of the end of June 2025, Volta's NAV was €273.0 million, equating to €7.46 per share [10]

Performance Overview - In May 2025, Volta Finance's net performance increased by +3.3%, bringing the cumulative performance from August 2024 to +10.7% [4][5] - The positive macroeconomic environment contributed to the recovery of investments in CLO Debt and CLO Equity, which had previously experienced volatility [4][5] Macroeconomic Context - The macroeconomic environment improved, with a 90-day tariff rollback from the U.S. towards China, leading to a sharp rise in both European and U.S. equity markets [5] - U.S. inflation rates decreased to 2.3% year-on-year, while euro-area inflation remained stable at 2.2% [6] - The U.S. Q1 GDP contracted by an annualized 0.3% due to pre-tariff stockpiling, while the Eurozone experienced a growth of +0.3% quarter-on-quarter [6] Credit Market Performance - Credit markets showed strong performance in May, with the European High Yield index tightening by around 50bps and closing at 300bps [7] - U.S. BBs returned +3% for the month, while U.S. High Yield returned +1.7% and Euro High Yield decreased by +1.3% [7] Loan Fundamentals - Default rates in the U.S. remained steady at 4.4%, but there was an increase in downgrades, with 12% of B- exposures downgraded to CCC by S&P [8] Cash Position and Investments - Volta Finance maintained a cash position of approximately 10% of its NAV at the end of May, having deployed €10.7 million into CLO debt tranches and two warehouses [9] - The cash flow generation remained stable at €28.1 million over the last six months, representing close to 21% of May's NAV on an annualized basis [9] Asset Class Performance - CLO Equity tranches returned +5.9% while CLO Debt tranches returned +2.8% during May [10] - The dollar reached a six-week low against the Euro at $1.15, with minimal impact on long dollar exposure [10] NAV and Share Information - As of the end of May 2025, Volta's NAV was €271.8 million, equating to €7.43 per share [11]

Performance Overview - Volta Finance's net performance for April 2025 was negative at -2.4%, bringing the performance from August 2024 to date to +7.1% [4] - The volatility in investments, particularly in CLO Debt and CLO Equity, was noted post-liberation day, affecting the valuation of underlying assets [4] Market Conditions - April 2025 was characterized by high market volatility due to macroeconomic and geopolitical events, including aggressive tariff policies announced by President Trump [5] - The U.S. stock indices experienced sharp declines, although there was a partial recovery by the end of the month following a 90-day tariff pause for non-retaliating countries [6] - The U.S. jobs report showed resilience with 177,000 jobs added, while GDP contracted by -0.3% in Q1 2025, leading to increased recession risks [6] CLO Market Activity - The European High Yield index widened by approximately 40 basis points, while Euro Loans lost 1 point, closing at 97.80px [7] - CLO BB tranches reported total returns of -1.5%, with the U.S. High Yield returning -1.07% and Euro High Yield at -1% during the same period [7] - The default rate in the U.S. stood at approximately 4.3%, while Europe maintained a low default rate of 0.3% [8] Portfolio Management - The company increased cash holdings to approximately 16% of NAV by the end of April through active management, receiving €7.5 million from called CLO Equities [9] - Cash flow generation remained stable at €28.5 million over the last six months, representing close to 22% of April's NAV on an annualized basis [10] - As of the end of April 2025, Volta's NAV was €262.9 million, equating to €7.19 per share [12] Investment Performance - CLO Equity tranches returned -3.6%, while CLO Debt tranches returned -0.9%, indicating a consistent performance relative to the overall product returns [11] - The dollar's volatility negatively impacted the fund's performance by -0.64%, prompting a reduction in USD exposure to approximately 12% [12]

Core Viewpoint - Volta Finance Limited has announced the purchase of 3,307 ordinary shares at an average price of €6.18 per share as part of the payment of directors' fees for the quarter ended 30 April 2025 [1][5]. Summary by Sections Director Transactions - Each director receives 30% of their fees in shares, which must be retained for at least one year [2]. - Specific transactions include: - Dagmar Kershaw acquired 1,018 shares, totaling 34,903 shares (0.09% of issued shares) [4]. - Stephen Le Page acquired 712 shares, totaling 52,707 shares (0.14% of issued shares) [4]. - Yedau Ogoundele acquired 712 shares, totaling 9,007 shares (0.02% of issued shares) [4]. - Joanne Peacegood acquired 865 shares, totaling 6,110 shares (0.01% of issued shares) [4]. Transaction Details - The total volume of shares purchased was 3,307 at a price of €6.18 per share [5]. - The transaction took place on 2 May 2025 on the London Stock Exchange [5]. Company Overview - Volta Finance Limited is incorporated in Guernsey and listed on Euronext Amsterdam and the London Stock Exchange [6][7]. - The company aims to preserve capital and provide stable income through dividends, primarily investing in CLOs and similar asset classes [8].