United Capital Plc · NSENG:UCAP
United Capital — Q1 2026 Earnings Presentation
48 slides from United Capital's earnings presentation, May 5, 2026
Slide 1: Q1 2026 Investors & Analysts Call
YA United Capital United Capital Pic Q12026 Investors & Analysts Call TUESDAY, MAY 05, 2026 www.unitedcapitalplcgroup.com
Slide 2: Table of Contents
Table of Contents 03 – 23 OVERVIEW 24 – 32 OPERATING ENVIRONMENT 33 – 39 FINANCIAL REVIEW 40 – 42 CORPORATE STRATEGY 43 – 47 APPENDIX 2 Q1 2 02 6 I N V ESTO RS & AN ALYSTS CAL L
Slide 3: Overview
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY 01 Easy Loans for Salary Earners Asset-Backed Loans Savings Payments Loans i OVERVIEW
Slide 4: The Group at a Glance
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY The Group at a Glance Investment Banking Asset Management Wealth Management Trustees 6 Financial Advisory Portfolio Management Bespoke financial and Private Trusts Debt Capital Markets Investment Advisory DECADES OF investmen
Slide 5: A Leading Financial Services Group
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY A Leading Financial Services Group A- A- Bond Issuance Rating Rating 1st by a Capital Market Operator ₦17.17bn GCR Agusto in Nigeria Gross Earnings 31% YoY Growth STRONG PRESENCE ₦11.63bn Profit Before Tax ₦1.81tn IN NIGERIA,
Slide 6: Core Values
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Core Values EXCELLENCE Quality Distinction Exceptionalism EXECUTION ENTERPRISE Getting things done Ingenuity Responsiveness Determination Ownership & Accountability Hardwork OUR PURPOSE CULTURE CODE OUR CORPORATE GOALS Unite
Slide 7: Board of Directors
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Board of Directors UC H E I KE PET E R AS H AD E S U N N Y AN E N E AYO D EJ I AD I G U N Chairman Group Chief Executive Deputy Group Chief Group Executive Director & Non-Executive Director Officer Executive Officer Chief Op
Slide 8: Experienced Executive Team
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Experienced Executive Team PET E R AS H AD E S U N N Y AN E NE AYO D EJI ADIG UN Group GroupChief Chief Executive Officer Executive Officer Deputy Group Chief Executive Officer Group Executive Director/ Chief Operating Offic
Slide 9: Experienced Business Leaders
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Experienced Business Leaders D R. G B AD EB O AD EN REL E D R. O D IRI O GIN N I BAWO O RITSEJAFO R MI CHAEL ABI ODUN THOMAS AD ETOLA FAS UYI Managing Director, Managing Director/CEO, Managing Director/CEO, Managing Director
Slide 10: Experienced Management Team
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Experienced Management Team D R . L EO OKAFO R SH ED RACK O NAKPOM A OLUSEYE KOM OLAFE AYODEL E AKI NWUNMI O LU RE M I T I N U O LU - GAB RI E L RITA U N U IG B OJE OLU FEM I OLAYIWOLA Group Company Group Chief Finance Offic
Slide 11: United Capital Group Delivers Remarkable Financial Performance for FY 2025
VA United Capital UNITED CAPITAL GROUP DELIVERS REMARKABLE FINANCIAL PERFORMANCE FOR FY 2025 GROSS EARNINGS —— FY 2025 PROFIT BEFORE TAX —— FY 2025 #58.55Bn W&41.18Bn FY 2024 - $#43.43Bn FY 2024 - #30.10Bn PROFIT AFTER TAX —— FY 2025 DIVIDEND PAYOUT —— FY 2025 N28.15Bn NI18.00Bn FY 2024 - #24.10Bn F
Slide 12: Seven Businesses. One Vision. All Profitable.
Seven Businesses. One Vision. All Profitable. A 7-Star Year Across the Group In 2025, all seven of United Capital Plc's subsidiaries recorded profits Across every division, every market, and every mandate, we delivered #EmpoweringYourDreams
Slide 13: United Capital Group Is Fully Recapitalised
GREAT NEWS! UNITED CAPITAL GROUP IS FULLY RECAPITALISED! United Capital Licence New SEC Regulatory December 2025 Adequacy Subsidiaries Capital Base Audited Position United Capital Plc (Investment Banking) Tier-2 Issuing House/ Underwriting ₦7 Billion ₦9 Billion ✅ United Capital Asset Management Limi
Slide 14: Q1 2026 Overview
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY 01 ii Q1 2026 OVERVIEW
Slide 15: Investment Banking Transaction Milestones - Q1 2026
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Investment Banking Transaction Milestones - Q1 2026 Series 1 Tranche Cardinal Stone Series 5 – 7 A & B Bond Rights Issue Umbrella Commercial Paper Issuance Infrastructure Fund Issuance ₦501.02bn ₦157bn ₦12.625bn ₦11.5bn Issu
Slide 16: Landmark Achievements in Our Asset Management Business - Q1 2026
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Landmark Achievements in Our Asset Management Business - Q1 2026 IMPRESSIVE GROWTH OF OUR SECURED STRATEGIC THIRD-PARTY STRONG EQUITY FUND AUM FUND MANAGEMENT MANDATE PROFITABILITY Delivered sustained growth in the Appointed
Slide 17: Our Trustees Business Milestones - Q1 2026
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Our Trustees Business Milestones - Q1 2026 GROWTH IN FEES AND COMMISSION MARKET LEADERSHIP GROSS EARNINGS THROUGH MANDATES POSITION Achieved 35% year-on-year The business secured 130+ Market Leadership for over 6 decades rev
Slide 18: Our Securities Business Milestones - Q1 2026
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Our Securities Business Milestones - Q1 2026 01 02 03 04 IMPRESSIVE STRONG NOTABLE REMARKABLE DEAL CUSTOMER BASE PROFITABILITY AWARD MANDATES The business ranked 8th by value Recorded 85% year-on-year Best Sponsoring Trading
Slide 19: Our Wealth Management Business Milestones - Q1 2026
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Our Wealth Management Business Milestones - Q1 2026 PRODUCT GROWTH PERFORMANCE Recorded 58.5% year-to-date growth in Investment Planning AUM, reaching ₦21.5 billion UC OCTUS (MULTI-ASSETS, MULTI JURISDICTION: NON-DISCRETIONA
Slide 20: Landmark Achievements in Our UCEE MFB Business - Q1 2026
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Landmark Achievements in Our UCEE MFB Business - Q1 2026 DEPOSIT MOBILISATION LOAN PORTFOLIO GROWTH Delivered strong deposit mobilisation, with total Recorded 183% growth year-on-year in its loan deposits growing to ₦3.01 bi
Slide 21: Landmark Achievements in Our Consumer Finance Business - Q1 2026
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Landmark Achievements in Our Consumer Finance Business - Q1 2026 LOAN BOOK INCREASED MARKET NEW PRODUCT GROWTH PENETRATION LAUNCH Expanded the loan portfolio to Achieved cumulative loan Successfully launched the Auto ₦52.9bi
Slide 22: Award and Recognition
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Award and Recognition 24 Q 1 2 02 6 I N V ESTO RS & AN ALYSTS CAL L
Slide 23: Q1 2026 Sustainability Highlights
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Q1 2026 Sustainability Highlights In Q1 2026, United Capital advanced its sustainability agenda with deliberate actions to embed ESG principles across all its area of operations Leveraging the strength of our sustainability
Slide 24: Operating Environment
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY 02 OPERATING ENVIRONMENT
Slide 25: Global Economy: Review and Outlook
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Global Economy: Review and Outlook IMF’s Gross Domestic Product (GDP) Actual Vs Forecast Impacts of US – Iran War: 7.6% Surge in crude oil and gas prices due to supply shock from Middle East 6.5% 2025 2026 Blockage of Strait
Slide 26: WAEMU Region: Strong GDP Growth Outlook With Moderate Inflation
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY WAEMU Region: Strong GDP Growth Outlook With Moderate Inflation United Capital Plc is well positioned to take full advantage of the opportunities in the region Benin Côte d’Ivorie Mali Senegal 5.5% 5.7% 5.5% 7.5% 7.5% 5.0% 7.
Slide 27: WAEMU Region: Strong GDP Growth Outlook With Moderate Inflation
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY WAEMU Region: Strong GDP Growth Outlook With Moderate Inflation United Capital Plc is well positioned to take full advantage of the opportunities in the region Burkina Faso Guinea-Bissau Niger Togo 6.3% 10.3% 5.9% 5.3% 5.5% 5
Slide 28: Nigerian Economic Review – Strong Growth Rate Supports Investors' Appetite
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Nigerian Economic Review – Strong Growth Rate Supports Investors’ Appetite GDP Growth Rate Breakdown of GDP The Nigerian economy expanded further in 2025 and should continue in 2026 Non-oil Oil 4.23% 3.98% 4.07% 3.86% 3.76%
Slide 29: Nigerian Economic Review – Strong Growth Rate Supports Investors' Appetite
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Nigerian Economic Review – Strong Growth Rate Supports Investors’ Appetite Purchasing Managers' Index (PMI) Nigerian economy is responding positively to the recent policy reforms The growth rates in 2025 were higher than the
Slide 30: Nigerian Economy: Strong External Position Supports Naira and Markets
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Nigerian Economy: Strong External Position Supports Naira and Markets External Trade (US$ Billion) Capital Importation (US$’ Billion) Capital importation rose to US$6.44 billion in Q4 2025, this trend Imports Exports Trade B
Slide 31: Nigerian Economy: Strong External Position Supports Naira and Markets
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Nigerian Economy: Strong External Position Supports Naira and Markets Exchange Rates and Inflation Rate Nigerian external position remains strong, supporting FX stability 1480 Exchange Rate Inflation Rate 20.00% Foreign exchan
Slide 32: The Nigerian Financial Market: Bulls Dominate the Equity Market
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY The Nigerian Financial Market: Bulls Dominate the Equity Market Nigerian Exchange All-Share Index (NGX) In Q1-2026, NGX-ASI appreciated by 29.35% to settle at 201,287.78 points Equity Market: Investor sentiment improved in 2
Slide 33: Financial Review
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY FINANCIAL 03 REVIEW
Slide 34: Q 1 2 02 6 I N V ESTO RS & AN ALYSTS CAL
33 Q 1 2 02 6 I N V ESTO RS & AN ALYSTS CAL L
Slide 35: Income Statement Highlights
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Income Statement Highlights Income Statement (₦’bn) INCOME MARCH 2026 MARCH 2025 CHANGE 17.17 STATEMENT (₦’bn) (₦’bn) YoY 13.10 13.62 12.37 11.63 Gross Earnings 17.17 13.10 +31% 9.79 Net Operating income 13.62 12.37 +10% 6.6
Slide 36: Gross Earnings Breakdown
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Gross Earnings Breakdown Fee and Commission Fee and income (₦’bn) commission income Investment Income (₦’bn) (! ’bn) 7.69 6.41 4.86 3% 4.46 2% 21% Investment income 11% 6% 34% Net trading income Mar. 25 Mar. 26 Mar. 25 Mar.
Slide 37: Balance Sheet Highlights
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Balance Sheet Highlights BALANCE SHEET MARCH 2026 DECEMBER 2025 CHANGE Total Assets grew by 3% HIGHLIGHTS (₦’bn) YTD year-to-date to ₦1.81 trillion in March 2026 compared to ₦1.76 trillion in December 2025, largely Total Ass
Slide 38: Balance Sheet Analysis
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Balance Sheet Analysis Asset Analysis Liabilities Analysis 1% Investment securities Borrowed funds 3% 4% 1% 0% 1% 1% 7% 13% 4% 23% Loans and advances 23% Deferred tax liabilities 19% 76% 68% Trade and other receivables Curre
Slide 39: Ratio Highlights
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Ratio Highlights Return on Assets rose by 0.44% percentage points year-on-year from 1.75% in March 2025 to 2.19% in March 2026 reflecting improved efficiency in asset utilisation Return on Assets Return on Equity Net Asset Pe
Slide 40: Corporate Strategy
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY CORPORATE 04 STRATEGY
Slide 41: Our 2026 Strategic Focus and Priorities
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Our 2026 Strategic Focus and Priorities To deliver sustained value to our stakeholders in 2026, we will execute against a set of clearly defined strategic pillars designed to strengthen our competitive positioning and ensure
Slide 42: Our 2026 Strategic Initiatives
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Our 2026 Strategic Initiatives To operationalise our strategic priorities and deliver measurable value to stakeholders, we will focus on the following high-impact initiatives: AUM GROWTH BUSINESS EXPANSION We will accelerate
Slide 43: Thank You! Q&A
THANK YOU! Q &A 3rd, 4th & 5th Floor, Afriland Towers, investorrelations@unitedcapitalplcgroup.com 0700 046 8378 97/105 Broad Street, Marina, Lagos.
Slide 44: Appendix
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY 05 APPENDIX
Slide 45: Statement of Comprehensive Income
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Statement of Comprehensive Income STATEMENT OF COMPREHENSIVE INCOME Group Company 31 March 31 March 31 March 31 March 2026 2025 2026 2025 =N=' 000 =N=' 000 =N=' 000 =N=' 000 Gross earnings 17,169,086 13,098,367 2,306,204 1,8
Slide 46: Statement of Financial Position
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Statement of Financial Position STATEMENT OF FINANCIAL POSITION Group Company 31 March 31 December 31 March 31 December 2026 2025 2026 2025 =N=' 000 =N=' 000 =N=' 000 =N=' 000 ASSETS Cash and cash equivalents 366,909,873 287
Slide 47: Disclaimer
OPERATING FINANCIAL CORPORATE OVERVIEW APPENDIX ENVIRONMENT REVIEW STRATEGY Disclaimer From time to time, United Capital Plc (“UCAP”) or the (“Group”) make written and/or Any forward-looking statements contained in this presentation represent the views of oral forward-looking statements in presentat
Slide 48: Africa's Leading Financial Services Group
Z United Capital Africa's Leading Financial Services Group ASSET MANAGEMENT | TRUSTEESSERVICES | INVESTMENT BANKING CONSUMER FINANCE | SECURITIES TRADING | WEALTH MANAGEMENT MICROFINANCE BANKING Visit investnow.ng to get started DOWNLOAD THE INVESTNOW APP