REG - Utilico Emerging Mkt - Publication of monthly factsheet

RNS Number : 4308Q Utilico Emerging Markets Trust PLC 12 August 2026

12 August 2026

UTILICO EMERGING MARKETS TRUST PLC

(LEI Number: 2138005TJMCWR2394O39)

Publication of monthly factsheet

The latest monthly factsheet for Utilico Emerging Markets Trust plc ("UEM" or the "Company") will shortly be available through the Company's website at:

https://www.uemtrust.co.uk/investor-relations/factsheet-archive

Monthly commentary

PERFORMANCE

UEM's NAV total return increased by 1.6% in July, whilst the MSCI Emerging Markets Net Total Return GBP Index declined by 4.4% primarily due to the partial unwinding of the AI-related market theme.

Given UEM's focus is predominantly on infrastructure and utilities which are typically more defensive in nature, the fund continues to weather significant market volatility. The reversal in sentiment toward AI-related names was driven by renewed concerns over the sustainability of AI capex, financing and monetisation. The Korean Kospi Index continued to see 5-10% daily movements and ended the month down by 22.2% - albeit it was actually down 34.0% before a sharp upward rally on the last day of July. For similar reasons, the Taiwanese TWSE Index fell 6.5% and the Nasdaq Composite Index also declined 3.2% over the month. While the S&P 500 Index proved more resilient, down by 0.1% over the period and hitting an all time high during the month as second quarter earnings results were better than expected, supporting market sentiment.

July saw a resurgence in Brent crude oil, rising 23.6% to USD 90.12/barrel driven by re-escalation of conflict in the Middle East. However, energy importing Asian markets broadly shrugged this impact off with India's Nifty 50 Index gaining 2.2% and the Philippines PSEi Index rising 3.3%. Elsewhere, the Thai SET Index was up 2.0% and the FTSE Bursa Malaysia increased by 3.7% during the month. The Hong Kong Hang Seng Index recovered strongly in July, increasing 13.1% reflecting a rebound in China's internet platforms and growing optimism of China implementing policy stimulus. Indonesia's JCI Index also delivered noticeable improvement, increasing 10.5% and despite the Bank of Indonesia's governor unexpectedly resigning, there are signs of greater fiscal discipline.

In Latam, Brazil's Ibovespa Index increased by 3.5% in July benefitting from the rotation out of AI names and the weaker inflation numbers. Colombia's COLCAP Index continued its recent strong performance by gaining 5.4% on the favourable right wing election result of Abelardo de la Espriella, with the Colombian Peso strengthening a further 8.1% against Sterling over the month. Chile's IPSA Index gained 1.6% while Mexico's Mexbol Index remained flat in July.

Within EMEA, Romania remained the standout performer with the BET Index up by 11.3% over the month driven by strength in energy names. Greece's ASE Index continued to perform strongly, rising 4.5% on a healthy economic backdrop and continued investor positioning ahead of MSCI reclassification to developed market status. Poland's WIG Index also performed strongly, up 8.7% after a subdued performance the previous month.

Sterling's performance was solid during the month, strengthening 1.4% against the US Dollar and 0.8% against the Euro.

PORTFOLIO

There were two changes to the constituents of UEM's top thirty holdings during the month, Public Power Corporation and Enerjisa Enerji were replaced by Nuam, a Chilean listed company that operates the Chilean, Colombian and Peruvian stock exchanges, and Helios Towers, a London listed operator of telecom towers in ten countries across Africa and the Middle East.

UEM's top performers for July were KINX, the Korean data centre, whose share price increased by 22.1% during the month following a Macquarie backed bid for its parent Gabia and Telelink Business Services, whose share price rose 19.8% after announcing the acquisition of Ideal Group, a UK based networking specialist. Other notable performers included Corficolombiana, a Colombian infrastructure operator, which continued its strong run in July, with its share price up by 11.7% on positive sentiment following the favourable election result, GDS, which bounced back 10.1% on improved sentiment towards the data centre sector in China, and Hong Kong listed water utility, Guangdong Investment, which recovered 9.2% after a recent period of weakness.

There were eight holdings which increased by more than 5% over the month and five that declined by more than 5%.

Mexican airport operator, GAP, saw its share price fall by 15.0% during the month on weaker than expected 2Q results. The Brazilian Waste company, Orizon, dropped 11.0% during the month. Vinacapital's share price also fell by 7.0% reflecting underlying weakness in the Vietnamese market with the Ho Chi Minh Index down by 6.7% in July.

Portfolio purchases for the month totalled £13.7m and total realisations amounted to £11.2m.

DEBT

UEM's total debt exposure in Sterling terms decreased from £16.6m to £16.4m, due to FX movements during the month. The loan exposure remained drawn at USD 13.5m and EUR 7.5m.

OTHER

UEM's share price ended the month at 287.00p, up by 1.1% with the discount to NAV narrowing from 10.1% to 9.2% as at 31 July 2026.

UEM declared a special interim dividend of 2.50p per ordinary share in respect of the year ended 31 March 2026 on 18 June 2026. UEM's share price went ex-dividend on 16 July 2026 and the special dividend will be paid on 14 August 2026 to shareholders on the register on 17 July 2026.

Name of contact and telephone number for enquiries:

ICM Investment Management Limited +44(0) 1372 271486

Charles Jillings, Jacqueline Broers, Alastair Moreton

Montfort Communications

Gay Collins, Alex Everett +44 (0) 7798 626282

utilico@montfort.london

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 DOCAKBBKNBKDDFD