Duke Capital - Trading Update

29 September 2025

Duke Capital Limited

("Duke Capital", "Duke" or the "Company")

Trading Update

Duke Capital Limited (AIM: DUKE), a leading provider of hybrid capital solutions for SME business owners in Europe and North America, is pleased to provide guidance on its trading for the second quarter of the financial year ending 31 March 2026 ("Q2 FY26").

Trading Update

Based on current trading, Duke expects to achieve recurring cash revenue* of £6.6 million in Q2 FY26. This represents a 3% year-on-year increase on Q2 FY25 (£6.4 million) and in line with the prior quarter, Q1 FY26.

Overview of quarterly revenue growth:

* Recurring cash revenue excludes exit premium receipts and cash gains from equity sales

** Total cash revenue is monthly cash distributions from Duke's partners plus exit premium receipts and cash gains from equity sales

Neil Johnson, CEO of Duke Capital, said:

"Our business model continues to show its resilience in a challenging UK market where we have seen persistent high inflation. Despite this, we have consistently delivered year-on-year increases in our recurring cash revenues. During the last quarter, we were pleased to see the UK base rate fall in August. Our business model and attractiveness to investors benefits with lower interest rates. Along with our strong balance sheet, this will enhance our ability to deliver long-term, sustainable value for shareholders."

***ENDS***

For further information, please visit https://dukecapital.com/ or contact:

About Duke Capital

Duke is a leading provider of hybrid capital solutions for SME business owners in Europe and North America, combining the best features of both equity and debt.

Since 2017, Duke has provided unique long-term financing which eliminates re-financing risk and necessity for a short-term exit by providing a unique 'corporate mortgage' while also aligning its returns to grow with the success of the business.

Duke is focused on generating attractive risk-adjusted returns for shareholders and has a track record of achieving this across market cycles. It's three investment pillars are capital preservation, attractive dividend yield, and to provide upside upon exits.

Duke is listed on the AIM market under the ticker DUKE and is headquartered in Guernsey.