Core Viewpoint - Volta Finance Limited successfully passed all resolutions at its Annual General Meeting, including a special resolution, indicating strong governance and shareholder support [2][3]. Company Overview - Volta Finance Limited is incorporated in Guernsey and listed on Euronext Amsterdam and the London Stock Exchange, subject to regulation by the AFM in the Netherlands [4][5]. - The company aims to preserve capital across the credit cycle and provide stable income through quarterly dividends, primarily investing in CLOs and similar asset classes [5]. Investment Management - AXA Investment Managers Paris is appointed as the investment manager for Volta Finance, specializing in structured credit [5][6]. - AXA IM is a significant player in the asset management industry, managing over €879 billion in assets as of June 2025 [6].

Core Insights - Volta Finance Limited reported a net return of -0.6% for October 2025, bringing the year-to-date performance to +2.9% [4] - The performance of Volta was notably lower compared to US High Yield bonds, which returned +7.3%, and Euro High Yield bonds, which achieved +4.7% during the same period [4] Performance and Market Activity - The market activity in October was influenced by political events, central bank decisions, and corporate earnings reports, leading to volatility after initial optimism [5] - The US Federal Reserve cut interest rates by 25 basis points, while approximately 85% of S&P 500 companies reported earnings that exceeded expectations, contributing to a late rally in US equities [5] - In the credit markets, the Morningstar LSTA Leveraged Loan Indices recorded returns of +0.22% in the US and -0.27% in Europe, with high yields providing some cushion against price declines [6] Portfolio Activity - Volta invested approximately EUR 5 million into six unique trades focusing on BB-rated and single-B rated tranches of European CLOs, with BBs sourced in the +560bps context and single-Bs in the +850bps context [7] - The company's cash position decreased to below 16%, while cash-flow generation reached approximately EUR 26 million, equivalent to 20% of October's NAV on an annualized basis [7] Performance Breakdown - Volta's CLO Equity tranches returned -1.9%, while CLO Debt tranches returned +0.1% [8] - The EUR/USD exchange rate movement positively impacted Volta's performance by +0.3% due to long dollar exposure [8] - As of the end of October 2025, Volta's NAV was €265.3 million, equating to €7.25 per share [8]

Core Viewpoint - Volta Finance Limited has announced a delay in the settlement of some dividend payments to shareholders holding shares with Euroclear Netherlands, despite confirming that the dividend distribution was made on time and in the ordinary course of business [3][4]. Company Overview - Volta Finance Limited is incorporated in Guernsey and is listed on Euronext Amsterdam and the London Stock Exchange's Main Market for listed securities [5]. - The company aims to preserve capital across the credit cycle and provide a stable stream of income to shareholders through quarterly dividends, primarily by investing in CLOs and similar asset classes [6]. Dividend Information - The interim dividend was declared on 24 September 2025, paid on 23 October 2025, with a dividend date of 2 October 2025 and a record date of 3 October 2025 [3]. - The company is in discussions with responsible parties to resolve the settlement delay as quickly as possible [4].

Core Insights - Volta Finance Limited reported a net performance of +0.3% for September 2025, bringing the year-to-date performance to +3.5% [4] - The performance of Volta Finance is lower compared to US High Yield and Euro High Yield, which returned +7.1% and +4.6% respectively [4] - The company's NAV as of the end of September 2025 was €272.6 million, equating to €7.45 per share [8] Market Overview - Global markets demonstrated resilience, with US equities benefiting from investments in artificial intelligence and anticipated interest rate cuts by the Federal Reserve [5] - Fixed income yields increased, with long-term rates in France and Germany reaching multi-year highs, while UK gilts advanced ahead of the Autumn Budget [5] - The Federal Reserve executed its first rate cut in nine months, while the ECB and Bank of England maintained a cautious approach [5] Portfolio Activity - Volta Finance reinvested approximately €10 million into five different US and European BB and B CLO debts, reducing its cash position from 18% to 16% [7] - The company experienced stable interest and coupon generation over the past six months, amounting to about €28 million equivalent, or approximately 21% of September NAV on an annualized basis [7] - Volta's CLO Equity tranches returned +0.3%, while CLO Debt tranches returned +1.2% during the month [8] Investment Strategy - Volta Finance aims to preserve capital across the credit cycle and provide a stable income stream to shareholders through quarterly dividends [13] - The company primarily seeks exposure to CLOs and similar asset classes, with a potential for a more diversified investment strategy across structured finance assets [13]

Volta Finance Limited (VTA/VTAS)Legal Entity Identification Code: 2138004N6QDNAZ2V3W80 Publication of the Annual Report and Audited Financial Statements (the “Accounts”) for the financial year ended 31 July 2025 and Notice of the Annual General Meeting NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTOTHE UNITED STATES ***** Guernsey, 21 October 2025 Volta Finance Limited has published its results for the financial year ended 31 July 2025. The 2025 Accounts are attached to this re ...

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]