Net Asset Value Update - Q1 2026

25 June 2026

Helios Underwriting plc

("Helios" or the "Company")

Net Asset Value Update

Pipeline profits drive 0.49% NAV per share increase

Helios Underwriting, the only publicly traded company offering access to a diverse portfolio of syndicates at Lloyd's of London, the world's largest insurance market, today announces an update on the Net Asset Value (NAV) of the Company for the first quarter ending 31 March 2026.

*based on total number of shares at 31st March 2026

NAV per share rose 0.49% in the first quarter to £2.65 (31 December 2025: £2.63), as a £5.7m increase in portfolio value from pipeline profits was partly offset by £3.4m of expenses and a £1.4m tax provision.

A dividend of 10 pence per share, approved by shareholders on 22 June 2026, is not reflected in the figures above.

Pipeline profit update and Quarterly Syndicate Mid-point Forecasts

The current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2024 and 2025 years of account based on the first quarter 2026 mid-point forecasts are:

Activity During the Period

The 2025 year of account mid-point forecast is 10.90% The Q1 forecast includes an early estimate of losses from the conflict in the Middle East and has not experienced any above average catastrophe losses.

The 2024 year of account mid-point forecast has increased from 9.25% to 9.80%. The improvement in forecast over the last few quarters are mainly driven by more certainty around the catastrophe losses experienced previously. The year is tracking towards a strong ultimate result.

ENDS

For further information, please contact:

Helios Underwriting plc

Louis Tucker - Chief Executive Officer +44 (0)20 3965 6441 

Adhiraj Maitra - Director of Finance and Operations +44 (0)20 3743 2114

Peel Hunt (Nomad, Broker and Financial Adviser)

Dan Webster / Andrew Buchanan / Martin Frowde +44 (0) 20 7418 8900

Singer Capital Markets (Joint Broker)

Charles Leigh-Pemberton / Russell Cook / James Todd +44 (0)20 7496 3000

FTI Consulting

Ed Berry +44 (0)7703 330 199

Christian Harte +44 (0)7974 288 763

About Helios

Helios provides a limited liability direct investment into the Lloyd's insurance market and is quoted on the London Stock Exchange's AIM market (ticker: HUW). Helios trades within the Lloyd's insurance market. The portfolio provides a broad spread of business primarily participating in the US and other international wholesale and reinsurance markets. For further information please visit www.huwplc.com.