29 aug 25   pantheon intl plc - monthly performance update pantheon international plc | pin | 328 0 0.0% | mkt cap: 1,449m    rns number : 1304x pantheon international plc 29 august 2025   29 august 2025   for immediate release the information contained in this announcement is restricted and is not for publication, release or distribution in the united states of america, canada, australia (other than to persons who are both wholesale clients and professional or sophisticated investors in australia), japan, the republic of south africa or any other jurisdiction where its release, publication or distribution is or may be unlawful. pantheon international plc ("pin" or the "company")   performance update at 31 july 2025          share buybacks and capital allocation   during the month, pin invested £7.0m in share buybacks, repurchasing 2,172,766 shares at a weighted average price of 321.1p per share. this price reflected an average discount of 35.0% to the prevailing net asset value (nav) per share at the time of the transactions.   in recognition of the continued wide discount on pin's shares and in light of currently anticipated cash flows, the board has allocated £30m to share buybacks to be deployed between 1 june 2025 and the august nav publication date, which is expected to be in september. to date, the company has invested £19m of the £30m that has been allocated to share buybacks in this financial year.   performance update at 31 july 2025   510.4p                         nav per share +3.7%                          nav per share movement for the month £2.3bn                         net asset value +87%                           total nav per share return (5y)*   £1.4bn                        market capitalisation +60%                           total shareholder return (5y)* £8.6m                          net portfolio cash flow** 4.0x                             financing cover***   month to 31 july 2025   pin announced an unaudited net asset value ("nav") per share of 510.4p as at 31 july 2025, an increase of 18.1p (+3.7%) from the nav per share as at 30 june 2025.   in the month to 31 july 2025, valuation gains** were +4.2p (+0.9%), investment income** added +0.2p (+0.0%), foreign exchange movements** were +13.9p (+2.8%), share buybacks added +0.8p (+0.2%) and expenses and taxes**** were -1.0p (-0.2%).   pin's valuation policy for private equity funds is based on the latest valuations reported by the managers of the funds in which pin has holdings. in the case of pin's valuation as at 31 july 2025, 14% of reported valuations are dated 30 june 2025 or later, 80% are dated 31 march 2025, 6% are dated 31 december 2024. of the 14% of valuations dated 30 june 2025 or later, 5.4% reflect the mark-to-market fair value adjustment for pin's listed company holdings.   at 31 july 2025, pin's private equity assets stood at £2,498m, whilst net available cash balances^ were £4m. the asset linked note^^ ("aln") outstanding as at 31 july 2025 amounted to £21m. undrawn commitments to investments stood at £732m as at 31 july 2025, calculated using exchange rates at that date. pin maintains a £400m^^^ multi-tranche, multi-currency revolving credit facility. as at 31 july 2025, £105m was drawn down under the credit facility and $150m (£113m gbp equivalent as at month end) of private placement notes were outstanding, resulting in a net debt to nav ratio of 9.5%.^^^^ net portfolio cash flow pin received distributions of £23.1m relative to £14.5m of calls from existing commitments to private equity funds. therefore, pin's portfolio generated net cash of £8.6m during the month.   new investments   pin made a total of £47.3m of commitments during the month. these consisted of: ·      £6.9m in a co-investment with shamrock capital advisors in penta group, a us-based communications and intelligence firm. ·      £16.8m in a manager-led secondary transaction alongside five arrows, investing in six companies: calypso - an education technology company based in north america; alpina group - an insurance distribution platform in the benelux region; radiologie - a radiology clinic group in germany; centric health - ireland's largest primary care gp network; opus 2 - a uk-based provider of legal software and services; and iad - a french provider of real estate software. ·      a £23.6m primary commitment to hg genesis 11, a european buyout fund focused on software and services companies across europe.     *based on the change in the nav per share and ordinary share price over the period. **figures are stated net of movements associated with the aln share of the reference portfolio. valuation movement includes the mark-to-market fair value adjustment of listed company holdings. ***ratio of net available cash, portfolio value and undrawn credit facility to outstanding commitments. outstanding commitments relating to funds outside their investment period (>13 years old) were excluded from the calculation as there is a low likelihood of these being drawn. this amounted to £41.4m as at 31 july 2025. ****operating expenses, financing costs and withholding taxes on investment distributions. ^net available cash calculated as cash and net current assets / (liabilities) less undistributed net cashflows associated with the aln.   ^^unlisted 10-year note issued on 31 october 2017 whose cost and repayments are linked to a reference portfolio consisting of the company's older vintage funds. ^^^pin maintains a £400m multi-currency credit facility. the overall credit facility comprises facilities of us$393.0m and €120.0m and had a sterling equivalent value of £400.8m as at 31 july 2025. as at 31 july 2025, pin had drawn down £105.0m of the credit facility.   ^^^^net debt calculated as borrowings (excluding the outstanding balance of the asset linked note) less net available cash. the aln is not considered in the calculation of gross borrowings or the loan-to-value ratio, as defined in pin's credit facility and note agreements. if the aln is included, net debt to nav was 10.4% as at 31 july 2025.   annualised performance as at 31 july 2025^^^^^   1 year (% p.a.) 3 years (% p.a.) 5 years (% p.a.) 10 years (% p.a.) since inception (% p.a.)   nav per share 5.0% 2.8% 13.4% 12.7% 11.6% ordinary share price 0.5% 8.0% 9.9% 9.6% 10.5% ftse all-share, tr 12.1% 10.5% 12.5% 6.9% 7.7% msci world tr, (£) 12.8% 13.2% 14.1% 13.0% 8.8% ^^^^^pin was launched on 18 september 1987. the performance figures for pin includes the effects of share repurchases, dividends, share splits, capital repayments and warrants. nav figure based upon adjusted nav per share where applicable. discrete performance as at 31 july 2025   31/07/2024 - 31/07/2025 31/07/2023 - 31/07/2024 31/07/2022 - 31/07/2023 31/07/2021 - 31/07/2022 31/07/2020 - 31/07/2021 nav per share 5.0% 7.4% -3.6% 32.8% 29.8% ordinary share price 0.5% 23.1% 1.7% -0.4% 27.8% ftse all-share, tr 12.1% 13.5% 6.1% 5.5% 26.6% msci world tr, (£) 12.8% 19.1% 7.9% 4.3% 28.1%   largest holdings   largest companies by value as at 31 may 2025†   company country sector % of portfolio kaseya switzerland information technology 1.3% visma norway information technology 1.3% action netherlands consumer 1.3% smile doctors usa healthcare 1.1% valantic germany information technology 1.0%   †the schedule showing largest companies by value was adjusted to reflect post period distributions.   largest managers by value as at 31 may 2025   manager region % of portfolio insight partners usa 6.5% index ventures global 4.4% hgcapital europe 4.1% parthenon capital usa 3.1% providence equity partners usa 3.0%   monthly report   the july 2025 newsletter can be accessed on pin's website at www.piplc.com in the investor relations section under the heading "newsletters".   this announcement contains inside information.   ends   lei: 2138001b3ce5s5pee928   for more information please visit pin's website at www.piplc.com or contact:   pantheon helen steers mbe / charlotte morris / vicki bradley tel: +44 20 3356 1800 follow us on linkedin: https://www.linkedin.com/company/pantheon-international-plc notes   pin pin is a listed ftse 250 private equity investment trust, overseen by an independent board of directors and managed by pantheon, one of the leading private equity investment managers globally. pin offers investors a liquid, differentiated entry point to the excellent growth potential of global private equity, with access to the primary, secondary and co-investment opportunities of some of the best managers in the world. the company has a track record of nav outperformance over the long term and manages risk strategically through diversification and rigorous selection based on pantheon's extensive experience and international platform, and robust investment due diligence and decision-making processes.   pantheon pin is managed and advised by pantheon, a specialist global private markets investor. pantheon has been at the forefront of private markets investing for more than 40 years, earning a reputation for providing innovative solutions covering the full lifecycle of investments, across private equity, real assets and private credit. the firm has partnered with more than 740 clients, with approximately $75.7bn in discretionary assets under management (as at 31 march 2025).   important information a copy of this announcement will be available on the company's website at www.piplc.com. neither the content of the company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the company. john singer cbe chair, pantheon international plc broadwalk house, southernhay west, exeter, devon ex1 1ts this information is provided by rns, the news service of the london stock exchange. rns is approved by the financial conduct authority to act as a primary information provider in the united kingdom. terms and conditions relating to the use and distribution of this information may apply. for further information, please contact rns@lseg.com or visit www.rns.com.  rns may use your ip address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. for further information about how rns and the london stock exchange use the personal data you provide us, please see our privacy policy.   end   updflfertritfie return to news summary

Label: Neutral