Semi-annual report 30 June 2026

Results

Quest for Growth realized a strong recovery in the second quarter of 2026, with a profit of € 6.9 million. This offset a significant portion of the negative impact of the difficult first quarter, limiting the result for the first six months of the fiscal year to a loss of € 3.4 million. This corresponds to a return on net asset value of -2.3%, taking into account the capital reduction of € 1 per share.

Quest for Growth saw its share price decline by approximately 5.7% over the first six months of the year to a closing price of € 2.99 on June 30, 2026, adjusted for the capital reduction of € 1 per share. The discount to net asset value widened to 49.0% (compared to 40.5% at the end of 2025), indicating a significant gap between market value and intrinsic value. As a result, the current market price offers investors access to the portfolio at a substantial discount to net asset value.