Digital 9 Infrastructure Plc · LSE:DGI9
Digital 9 Infrastructure — FY2025 Earnings Presentation
17 slides from Digital 9 Infrastructure's earnings presentation, Apr 15, 2026
Slide 1: Digital 9 Infrastructure PLC Annual Results Presentation
Digital 9 Infrastructure PLC Annual Results Presentation 15 April 2026
Slide 2: Fund Update
Fund Update d9infrastructure.com | 2
Slide 3: Key highlights
Key highlights Disciplined Managed Wind-Down RCF fully repaid: Simplified capital structure: progress: Proceeds from disposals enabled full With the RCF eliminated, the Company now Three major disposals completed during repayment and cancellation of the Revolving operates with a simpler balance shee
Slide 4: Significant developments in the year
Significant developments in the year FY 24 Results FY 25 Results D9’s net equity interest in Arqiva reset to nil, reflecting capital Arqiva valuation under review with range of outcomes identified structure, market evidence and updated policy-driven assumptions 1 Revolving Credit Facility outstandin
Slide 5: Realisation plan update
Realisation plan update Divestments Next phase of wind-down EMIC-1 (Announced Dec 24, Completed May 25) Disposal proceeds: £32m net of transaction costs Released £10m of undrawn construction commitments Strong operational delivery; retained to maximise Enabled significant RCF repayment value
Slide 6: Verne Global Earn-Out Settlement
Verne Global Earn-Out Settlement £10m settlement received. Valued at a nil valuation at June 2025 interims; settlement represents 1.2p upside. Background Outcome Early settlement agreed on 2 April 2026 with £10 million cash consideration received on 10 April 2026. Sale of Verne Global completed
Slide 7: Financial Review
Financial Review d9infrastructure.com | 7
Slide 8: Financial overview as at 31 December 2025
Financial overview as at 31 December 2025 Net Asset NAV Share Total Value Per Share Price Portfolio Value £80.2m 9.3p 5.9p £47.2m1 30 June 2025: £283.1m 30 June 2025: 32.7p 30 June 2025: 9.8p 30 June 2025: £279.5m 31 December 2024: £297.3m 31 December 2024: 34.4p 31 December 2024: 18.9p 31 December
Slide 9: Components of the reduction in NAV
Components of the reduction in NAV NAV reduction over 12 months to 31 December 2025 primarily driven by the decrease in the valuation of Arqiva 40.0 0.7 0.8 35.0 34.4 30.0 NAV per share (p) 25.0 20.0 15.0 10.0 -24.8 9.3 -1.8 5.0 - 01-Jan-25 Elio Networks Verne Global Earn-Out Arqiva (incl VLN) Other
Slide 10: Portfolio Review
Portfolio Review d9infrastructure.com | 10
Slide 11: Portfolio performance: Elio Networks – strong performance
Portfolio performance: Elio Networks – strong performance Providing reliable internet to Dublin’s underserved high-end business broadband market Business update Financial highlights Financial Period 2025 2024 Delivered strong performance in 2025 with revenue of £8.5m, up 7% YoY, driven by enterpri
Slide 12: Portfolio performance: Elio Networks – maximising value
Portfolio performance: Elio Networks – maximising value M&A strategy is expected to drive greater value for shareholders Rationale for M&A strategy Outcomes delivered until today InfraRed and management worked to define M&A strategy – focus on acquiring connectivity InfraRed’s appointment coinci
Slide 13: Portfolio performance: Arqiva – written down to £nil
Portfolio performance: Arqiva – written down to £nil The Vendor Loan Note creates a highly leveraged equity position, amplifying sensitivity to valuation assumptions. Valuation & business update Financial highlights Key factors informing D9’s net valuation: In 2025, Arqiva delivered revenue grow
Slide 14: Portfolio performance: Arqiva – upside potential
Portfolio performance: Arqiva – upside potential Equity value is highly sensitive to a small number of key drivers, creating the potential for recovery under improved outcomes. Arqiva valuation upside scenario analysis Potential upside scenario Timeline of key events December 2027: 2027 – 2028+: W
Slide 15: Concluding Remarks and Q&A
Concluding Remarks and Q&A d9infrastructure.com | 15
Slide 16: Concluding remarks
Concluding remarks InfraRed has accelerated the Company’s managed wind-down process, with the announced divestments of EMIC-1 Sea Edge and Aqua Comms and the settlement on the Verne earn-out, despite a challenging market backdrop. Future is focused on optimising Elio and Arqiva for sales processes w
Slide 17: Disclaimer
Disclaimer For Investment Professionals (as defined under FSMA 2000). Individuals without professional experience in matters relating to investments should not rely on this information By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bo
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