Oakley Capital Investments Ltd Registered · LSE:OCI
Oakley Capital Investments Ltd Registered — Oakley Capital Investments — Q2 2026 Earnings Presentation
44 slides from Oakley Capital Investments Ltd Registered's earnings presentation, Sep 10, 2026
Slide 1: 2026 Interim Results
2026 Interim Results September 2026
Slide 2: H1 performance analysis; Touring strategy; Investment activity; Cash & commitments
001 H1 performance analysis 002 Exploring the Touring strategy with Samir Kumar 003 Investment activity 004 Cash & commitments
Slide 3: The headline numbers
The headline numbers Net Asset Value Total NAV return per share (6 - months) £1,289m +6% Since 31 December 2025 NAV per share Total NAV return CAGR (10 - years) 782p +15% Since 30 June 2016 Note: As at 30 June 2026.
Slide 4: Long-term total NAV return
Oakley Capital Investments Long -term total NAV return 10 - year total shareholder return of 344% (15% CAGR) BUILDING THE ACCELERATED HIGH DEPLOYMENT WITH PORTFOLIO VALUE CREATION & SIGNS OF MATURATION REALISATION 3.48 2.92 3.04 3.07 2.55 2.74 2.54 2.56 2.41 2.54 2.38 1.81 7.82 7.38 6.84 6.95 6.62 5
Slide 5: Earnings drive growth
Oakley Capital Investments Earnings drive growth NAV per share H1 2026 growth bridge (4p) 3p (7p) 782p 1p 56p 738 p (5p) NAV FX split 2.3m Shares cancelled £ 23% Earnings growth accounted € 39 % for 80% of portfolio performance $ 38% FY 25 Investments: Investments: Investments: Share buybacks Expens
Slide 6: Equity investments by sector and geography
Oakley Capital Investments Equity investments by sector and geography Business Services £543m Global Education £280m UK North America The Netherlands Italy Consumer France £309m DACH Spain Technology £490m Note: As at 30 June 2026. Charts represents OCI’s look -through value of the private equity an
Slide 7: Equity investments by portfolio company
Oakley Capital Investments Equity investments by portfolio company Cegid 97.0 WebPros 58.8 I- TRACING 54.8 Contabo 35.1 Assured Data Protection 33.2 vitroconnect 24.1 TECHNOLOGY Brevo 20.3 Hosting.com 16.9 Alerce 13.1 Horizons Optical 13.0 Seedtag 11.5 Senef 9.2 Paraty 7.9 ECOMMERCE ONE 7.0 Touring
Slide 8: NAV portfolio performance drivers
Oakley Capital Investments NAV portfolio performance drivers Positive impact + 13p +9p + 8p NAV per share uplift NAV per share uplift NAV per share uplift Negative impact -4 p - 3p - 2p NAV per share decline NAV per share decline NAV per share decline 8 Note: Pence movement shown is since 31 Decembe
Slide 9: Portfolio company KPIs: foundations for long-term outperformance
Oakley Capital Investments Portfolio company KPIs: foundations for long -term outperformance 9% Avg. LTM Organic EBITDA Growth 4.4x Net debt/EBITDA ratio 16.4x EV/EBITDA ratio Sustained growth Low leverage Stable valuations Note: All metrics weighted by OCI’s look -through fair value of the underlyi
Slide 10: Breaking down the EBITDA growth
Oakley Capital Investments Breaking down the EBITDA growth INVESTING FOR SIZE & SCALE M&A UNDERPERFOMANCE GROWTH Larger, more mature Buy - and - build platforms Businesses Companies currently businesses where growth where acquisition activity deliberately investing trading below rates naturally mode
Slide 11: AI @ Oakley
Oakley Capital Investments AI @ Oakley 1 2 3 Oakley AI Lab –a Defensibility Oakley Touring – direct centre of AI excellence AI - native investment ▪ Full - time advisory group ▪ 70% physical delivery - ▪ Investing in high - growth delivering AI thought diversification built into enterprise software
Slide 12: AI: Portfolio by product type
Oakley Capital Investments AI: Portfolio by product type Portfolio exposure by 30% 70% delivery model Field - based Digital and 30% Software professional services and data Education Consumer digital Consumer Physical and luxury 70% brands Cyber Tech infra Sports Digital delivery Physical delivery No
Slide 13: Exploring the Touring strategy
Exploring the Touring strategy A discussion with Samir Kumar, Oakley Touring Capital
Slide 14: Backing resilient beneficiaries of AI development
Backing resilient beneficiaries of Al development Vertical Systems of Action Physical AI Next Gen AI Infrastructure Context & data moats Hardware + hardware - The picks & shovels of enabled software the next wave • Domain - specific data • Sensors, actuators, and edge • World Models compounds over t
Slide 15: Portfolio Spotlight: From Seed to $2.6B in 24 months
Portfolio Spotlight: From Seed to $2.6B in 24 months Physical AI: Generative engine for discovering and validating new materials. Oakley Touring obtained access to highly oversubscribed S eed . 2024 May 2024 Feb 2026 June 2026 Founded in Oakley Touring Rapid $450M Series B Cambridge, UK Seeds Commer
Slide 16: Oakley Touring Fund I Portfolio
Oakley Touring Fund I Portfolio Realisations Markups 1.4x Gross MOIC 16
Slide 17: Investment activity
CZ! Oakley Capital we" Investments Investment acti\
Slide 18: Latest deal activity
Oakley Capital Investments Latest deal activity Proprietary sourced founder - led investments in our focus sectors £9m c. £55m c. £20m c. £33m invested cost invested cost invested cost invested cost Note: GLAS, XTEL and Graphwise have been signed and are expected to complete in Q4 2026. 18
Slide 19: New deal case study: XTEL
Oakley Capital Investments New deal case study: XTEL A provider of revenue management and trade promotion software for CPG companies Acquisition Highlights Performance Fund V I invests • XTEL's software platform Revenue Growth ($m) enables consumer packaged up to €33m goods companies, inc. food, bev
Slide 20: Cash and commitments
CZ! Oakley Capital we" Investments Cash and itments
Slide 21: Outstanding commitments
Oakley Capital Investments Outstanding commitments £940m total outstanding commitments broken down by fund O/s commitments NAV exposure £ 314m £ 71m £ 382m £ 424m £ 24m £305 m £ 13m £ 105m £17m £ 140m £ 126m £ 70m £ 85m £ 38m £ 14m £8m Fund III Fund IV Fund V Fund VI Origin Fund Origin Fund II PROfo
Slide 22: Available resources to meet near-term commitments
Oakley Capital Investments Available resources to meet near -term commitments Fund commitments by drawdown timing c.£4 0 0m c.£300m c.£240m £155m 3 £74m Undrawn available credit £81m Cash Not expected Expected to be called Expected to be called Liquid resources to be called over a 1 - 5 year period
Slide 23: Liquidity and capital allocation
Oakley Capital Investments Liquidity and capital allocation Sources of liquidity Share buybacks 4 £13m Companies in exit Shares bought back YTD (1) phase +4p NAV per share accretion Other sources: ▪ Accordion ▪ Refinance £7m ▪ Secondary sale Minimum remaining of 2026 buyback programme (1) As at 4 Se
Slide 24: A maturing portfolio with several assets approaching realisation
Oakley Capital Investments A maturing portfolio with several assets approaching realisation 4.4 year average hold period of exited investments vs 3.5 year current hold Fund VI Fund III Fund V Origin I Phenna IU Group Steer Automotive Fund IV Origin II 165 Bright Stars 105 TechInsights Cegid 100 Faci
Slide 25: Outlook
CZ! Oakley Capital we" Investments Outlook
Slide 26: A strong outlook for shareholder return
Oakley Capital Investments A strong outlook for shareholder return Portfolio p erformance Portfolio maturity Realisations Trading showing positive A large cohort of recent Exits to provide further momentum across the investments to increase its NAV confidence and portfolio. contribution to NAV growt
Slide 27: Appendix
Ce | Oakley Capital we" Investments Appendix
Slide 28: Business Services – Portfolio companies (1/3)
Oakley Capital Investments Business Services – Portfolio companies (1/3) Phenna Steer Automotive TechInsights Liberty Dental ProductLife Group (PLG) Location: UK Location: UK Location: Canada Location: The Netherlands Location: France Investment date: Dec - 22 Investment date: Apr - 24 Investment da
Slide 29: Business Services – Portfolio companies (2/3)
Oakley Capital Investments Business Services – Portfolio companies (2/3) Clio Artemis Group G3 Location: Spain/N. America Location: Germany Location: Global Investment date: Dec - 25 Investment date: Dec - 24 Investment date: Jul - 25 Fund: Origin I/Origin II Fund: Fund V Fund: VI Open cost: - / £ 1
Slide 30: Business Services – Portfolio companies (3/3)
Oakley Capital Investments Business Services – Portfolio companies (3/3) Join Business Mgmt Infravadis Tiger HoldCo (ONHC) Consulting Location: Germany Location: Italy Location: Italy Investment date: Jun - 25 Investment date: Oct - 25 Investment date: Jun - 25 Fund: Origin II Fund: V Fund: Origin I
Slide 31: Technology – Portfolio companies (1/3)
Oakley Capital Investments Technology – Portfolio companies (1/3) Cegid WebPros I- TRACING Contabo Assured Data Protection Location: Spain Location: Switzerland Location: France Location: Germany Location: UK Investment date: Jun - 19 Investment date: Feb - 20 Investment date: Nov - 24 Investment da
Slide 32: Technology – Portfolio companies (2/3)
Oakley Capital Investments Technology – Portfolio companies (2/3) vitroconnect Brevo Hosting.com Horizons Optical Alerce Location: Germany Location: France Location: Global Location: Spain Location: Spain Investment date: Jul - 24 Investment date: Nov - 25 Investment date: Dec - 23 Investment date:
Slide 33: Technology – Portfolio companies (3/3)
Oakley Capital Investments Technology – Portfolio companies (3/3) Seedtag Groupe Senef Paraty Tech ECOMMERCE ONE Location: Spain Location: France Location: Spain Location: Germany Investment date: Sep - 21 Investment date: Feb - 26 Investment date: Dec - 25 Investment date: May - 21 Fund: Origin Fun
Slide 34: Consumer – Portfolio companies (1/3)
Oakley Capital Investments Consumer – Portfolio companies (1/3) Time Out North Sails Facile Dexters Iconic BrandCo Location: Global Location: Global Location: Italy Location: UK Location: Italy / UK Investment date: Nov - 10 Investment date: Mar - 14 Investment date: Oct - 22 Investment date: Feb -
Slide 35: Consumer – Portfolio companies (2/3)
Oakley Capital Investments Consumer – Portfolio companies (2/3) Merz Lifecare Gymondo James Perse Location: Germany Location: Germany Location: USA Investment date: Dec - 20 Investment date: Sep - 20 Investment date: Dec - 25 Fund: IV Fund: Origin Fund: VI Open cost: £ 36.8m Open cost: £ 9.3m Open c
Slide 36: Consumer – Portfolio companies (3/3)
Oakley Capital Investments Consumer – Portfolio companies (3/3) NOX Vice Golf GB1 Wishcard Technologies Location: Spain Location: Germany Location: UK Location: Germany Investment date: Dec - 25 Investment date: May - 22 Investment date: Jan - 26 Investment date: Sep - 19 Fund: Origin II Fund: Origi
Slide 37: Education – Portfolio companies (1/1)
Oakley Capital Investments Education – Portfolio companies (1/1) IU Group K12 Investments Bright Stars ACE Education Location: Germany Location: Global / UK Location: UK Location: France Investment date: Jun - 23 Investment date: Jun - Investment date: Jun - 21 Investment date: Jul - 21 Fund: V 22/M
Slide 38: Portfolio maturing in line with historic outperformance
Oakley Capital Investments Portfolio maturing in line with historic outperformance Current portfolio Early investment Maturing platforms Lagging target return Gross MM Exceeding target return 3.0x + Phase 1 Early stages: - Investment in 2.5x infrastructure, central costs, deployment of capital into
Slide 39: PROfounders III
Oakley Capital Investments Oakley PROfounders III Venture capital strategy focused on entrepreneur - led private businesses across Europe ▪ Background: Seed - stage VC fund launched with Oakley in 2009 ▪ Sector focus: Disruptive business models that leverage technology to transform and improve custo
Slide 40: Touring
Oakley Capital Investments Oakley Touring Venture capital strategy focused on founder - led, AI - native software companies ▪ Background: Series B and C stage VC fund launched in 2023 ▪ Sector focus: Next - generation enterprise software businesses powered by generative AI ▪ Investment activity: Fin
Slide 41: How Oakley creates and protects value through sustainability
Oakley Capital Investments How Oakley creates and protects value through sustainability Sustainability is integrated across all stages of the investment process Engagement On - boarding & support Monitoring Due diligence Initial screening Exit • Preliminary • Support in preparing assessment of for s
Slide 42: Sustainability in practice: Spotlight Projects
Oakley Capital Investments Sustainability in practice Theme Environmental Social Governance Energy & Climate Change Employee culture, engagement & wellbeing Good governance & cybersecurity Climate risk and inaugural TCFD Building a people-led sustainability Strengthening data integrity and disclosur
Slide 43: Disclaimer and important information
Oakley Capital Investments Disclaimer and important information This presentation (the “Presentation ”) is being Conduct Authority, is acting only for the investment This Presentation contains “forward - looking communicated on a confidential basis and may not be manager of the Oakley Funds and will
Slide 44: www.oakleycapitalinvestments.com
www.oakleycapitalinvestments.com oci - investorrelations@oakleycapital.com
Oakley Capital Investments — Q2 2026 Earnings Presentation on 6ix