Tmt Investments Plc · LSE:TMT
Tmt Investments — FY2025 Earnings Presentation
23 slides from Tmt Investments's earnings presentation, March 2026
Slide 1: Investing globally in leading-edge, earlier stage technology companies since 2010
Investing globally in leading-edge, earlier stage technology companies since 2010 Annual Report & Accounts 2025 for the year ended 31 December 2025 Investor Presentation
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by the directors of TMT Investments Plc (the “Company”). The information in the Presentation is not intended to form the basis of any contract. By attending (whether in person or by telephone) or reading the Presentation, you agree
Slide 3: TMT is a publicly traded company providing exposure to high-growth private companies
TMT is a publicly traded company providing exposure to high-growth, private companies in the technology sector. TMT Investments Plc was admitted to AIM in December 2010, in conjunction with raising $20 million of equity capital (before expenses). Since admission to AIM, TMT has invested in over 105
Slide 4: Highlights
All figures are as of 31 Highlights December 2025 unless otherwise indicated All figures are shown in USD $7.13 $116.6m $220.8m NAV per share of US$7.13 Total cash proceeds Total NAV of $220.8m (up + 8.9% from US$6.55 from portfolio companies (up from $205.9m as of as of 31 December 2024) since ince
Slide 5: Share Price and NAV Per Share
Share Price (5 Year) NAV Per Share IRR* IRR* USD Since Inception 7 years 12.50 (15 years) 14% 12.5% $9.30* * Including dividends paid to date $9.00 *Including dividends paid to date 10.00 $7.43* $6.92* $6.71* $6.85* $7.13 $6.40* $6.62 $6.41 $6.55 7.50 $6.10 5.00 $3.82* $3.19* $3.52 $3.09 $2.53* 2.50
Slide 6: Experienced management team
Experienced management team Igor Shoifot Yuri Mostovoy James Joseph Mullins Investment Partner Chairman Non-executive Director Top investor in numerous investor rankings Global Head of Quantitative Fixed Income Research, Barclays Chairman of the Audit, Remuneration and Nomination committees 25 years
Slide 7: Experienced management team
Experienced management team Artemii Iniutin Alexander Morgulchik Levan Kavtaradze Co-Founder and Head of Co-Founder and Head of Investments Investment Director Business Development 15 years of investment experience in high tech Serial entrepreneur and investor 15 years of VC and startup experience A
Slide 8: Investment Filters
Investment Filters POST-INVESTMENT ENGAGEMENT INTERNAL PRODUCT Investee Board Meetings TESTING FROM THE New Investor Introductions CUSTOMER’S Strategic Advice and PERSPECTIV E Exploring Synergies 2,500+ 100+ Deeply Scrutinised Companies Funded 17,800+ 550+ Promising Companies Proposals in 15 Years o
Slide 9: Proven Track Record in Creating Value
Proven Track Record in Creating Value (as of 31December 2025) VALUE CREATED CAPITAL INVESTED $332.6m $115.6m Value Created FULL PROFITABLE CASH EXITS VALUE LOST $98.2m $42.5m PARTIAL CASH EXITS AND FULL NEGATIVE OTHER CASH PROCEEDS EXITS $18.5m Capital Invested $31.7m CURRENT PORTFOLIO PARTIAL IMPAI
Slide 10: Ten Largest Portfolio Investments and Portfolio allocation by sector
Ten Largest Portfolio Investments and Portfolio allocation by sector (as of 31 December 2025) Healthtech 3.1% Other 1.5% Other Edtech 7.1% 1.8% 1.8 1. % % 9% 2. Data platforms 2.6 3 % 7.2% 3.0 % 4 3 3.7% 4 8 Logistics & Mobility 38.0% 5 5.8% 5 Digital commerce 13.8% 3 19 9.2% 36.2% 10.5% Enterprise
Slide 11: Portfolio Classification by Investees' Sectors
Portfolio Classification by Investees’ Sectors (as of 31 December 2025) Data Platforms Enterprise software Digital commerce Edtech Other Fintech Healthtech Logistics and Mobility Annual Report & Accounts 2025 for the year ended 31 December 2025 11
Slide 12: Portfolio Map
Portfolio Map (as of 31 December 2025) Late stage Early stage Mid stage Annual Report & Accounts 2025 for the year ended 31 December 2025 12
Slide 13: Notable revaluations (>10x)
Notable revaluations (>10x) (as of 31 December 2025) Years since first Total value of TMT's Return on TMT's investment stake (US$M)* investment (x) portfolio company 11.5 79.0 247 exit 8.0 44.4 51 portfolio company 11.7 10.0 25 exit 6.0 23.4 23 portfolio company 10.9 23.1 19 portfolio company 2.2 5.
Slide 14: Exits
Exits Full Profitable Exits (as of 31 December 2025) Full Profitable Exits Full Profitable ExitsExits Full Profitable Partial Profitable Exits Partial Profitable Exits Partial Partial Profitable Profitable ExitsExits Acquirers Acquirers Acquirers Acquirers Acquirers Annual Report & Accounts 2025 for the yea
Slide 15: Major VCs have invested in our portfolio companies following investment by TMT
Major VCs have invested in our portfolio companies following investment by TMT (as of 31 December 2025) Annual Report & Accounts 2025 for the year ended 31 December 2025 15
Slide 16: Portfolio company coverage in global media
Portfolio company coverage in global media My laundrette closed early Rain Earned Wage Access Fellas, The New John Wick Bolt teams up with Nvidia to so I set up a £27m global Platform Integrated Into Cologne Actually Smells Good scale European robotaxis laundry service Microsoft Teams The Whizz mode
Slide 17: TMT's Shareholding Structure
TMT’s Shareholding Structure Issued shares 30,799,850 Treasury shares none (as of 24 March 2026) Shares not in public hands 63.66% Others Alexander Morgulchik, German (18.60%) Kaplun, Artemii Iniutin (via Macmillan Trading Company Limited) (24.28%) Dmitry Kirpichenko (via Menostar Holdings Limited)
Slide 18: TMT's Valuation Methodology
TMT’s Valuation Methodology (as of 31 December 2025) Mid-Market price Cost and price of recent Number of investment (reviewed for Companies impairment and uplift) Revenue multiple As % of total portfolio value Number of Companies Fair Value (US$M) Mid-market price 5.8 1 12.5 Cost and price of recent
Slide 19: Statement of financial position
Statement of financial position At 31/12/2025, USD At 31/12/2024, USD At 31/12/2023, USD At 31/12/2022, USD Investments 215,952,838 202,023,938 203,086,676 195,260,535 Cash 5,013,050 5,200,828 6,590,935 10,102,683 Other assets 77,096 64,553 151,908 1,382,811 Total assets 221,042,984 207,289,319 209,
Slide 20: Statement of comprehensive income
Statement of comprehensive income For the For the For the For the year ended year ended year ended year ended 31/12/2025, USD 31/12/2024, USD 31/12/2023, USD 31/12/2022, USD Gains/(Losses) on 17,868,761 (1,137,784) 7,357,560 (79,864,874) Investments Bonus scheme payment - - - - charge Administrative
Slide 21: Why Invest in TMT Investments Plc?
Why Invest in TMT Investments Plc? • Over 105 investments to date since inception Proven Track • 20 full and partial profitable exits since inception • 14% IRR since inception including dividends paid to date Record • Two special dividends paid to date ($2.8m in Nov 2016 and $5.8m in July 2020) • 20
Slide 22: Investor recognition of TMT's value
Spotting the multi-bagger Investor tech start-ups recognition of provide guidance Alexander Selegenev and Igor Shoifot from TMT Investments stocks for What Investment readers on the art of choosing those elusive that will make returns of several times their cost M TMT’s value any private investors w
Slide 23: Registered office and contact details
Registered office: 13 Castle Street, St Helier, Jersey, JE1 1ES Tel. +44 (0) 370 707 4040 Via Computershare ir@tmtinvestments.com