The Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF”) delivers ₦23.46 billion PBT for FY 2025 – a 19.7% Year-on-Year Growth and declares ₦4.53 Q1 2026 Distribution

LAGOS, NIGERIA – 15th April 2026

Chapel Hill Denham Nigeria Infrastructure Debt Fund (NGX: NIDF) (“NIDF”) has announced its audited results for the year ended 31 December 2025 and unaudited results for the quarter ended 31 March 2026, delivering sustained earnings growth, strong distributions, and continued outperformance of its benchmark: the 10-Year FGN bond.

Performance Summary

Since its first listing in June 2017, the Fund has achieved a 331.7% return on every naira invested and currently offers a dividend yield of 19.30% (last 12 months, based on NAV per unit). This has been achieved while maintaining very low share price volatility.

We believe that long-term, naira-denominated, project finance debt is an essential ingredient to Nigeria's development, and NIDF has seen greater demand for its services with every passing year. We continue to position ourselves as the leading Infrastructure Fund in Nigeria and Sub-Saharan Africa aimed at impacting lives through investing in sectors accretive to Nigeria’s economic development.

Financial Performance Highlights:

Earnings Analysis

• Total Income of ₦25.76 billion for FY 2025, which is an increase of 19.4% over FY 2024.
• Interest income on infrastructure loans was up by 22.3% Year-on-Year at ₦21.6 billion (FY 2025).
• Profit after Tax increased by 19.7% Year-on-Year at ₦23.45 billion (FY 2025).
• Total income of ₦5.95 billion for Q1 2026, 12 % decrease from Q1 2025.
• Interest income on infrastructure loans for Q1 2026 was down 19% from Q1 2025, primarily driven by declining yield on 10-year FGN bond. (15.83% for Q1 2026 vs 18.46% for Q1 2025)
• Profit after Tax for Q1 2026 declined by 5.4% over Q1 2025.

Financial Position:

• Financial assets held at fair value through P/L declined by 12% year-to-date to ₦85.3bn, reflecting repayments and prepayments during the quarter.
• Total assets decreased slightly by 0.2% year to date from ₦137.7 billion to ₦137.4 billion as at the end of March 2026.
• Total liabilities reduced by 2.8% year to date, from ₦7.1 billion to ₦6.9 billion as at Q1 2026.

Other Key Highlights:

• The Fund has announced a distribution of 4.53 per unit on the 15th of April 2026 for the quarter ended 31st March 2026. This marks the 36th distribution (35 quarterly and 1 special), underscoring NIDF’s consistent income delivery to investors. Total distribution by the Fund since inception will amount to N99.0 billion after payment of this distribution.
• During the period ended 31st March 2026, the Fund continued its progress in building a more diversified portfolio of infrastructure loans, by financing commercially viable infrastructure projects on attractive terms. The infrastructure loan portfolio currently includes seventeen infrastructure loans across 8 sub-sectors.

For further information, please contact:

Ifeoluwa Popoola: Chapel Hill Denham Nigeria Infrastructure Debt Fund

Tel: +234 802 242 7717

Email: ipopoola@chapelhilldenham.com

or ir-nidf@chapelhilldenham.com

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Notes to editors:

About NIDF

The Nigeria Infrastructure Debt Fund (NIDF) is Nigeria’s largest and Africa’s first-ever listed infrastructure closed-end fund, providing long-term, Naira-denominated financing for infrastructure projects in Nigeria. It is a closed-end fund which operates in the form of a company, registered and regulated by the Nigerian Securities and Exchange Commission and listed on FMDQ and the Nigerian Exchange (NGX).

NIDF provides investors with regular, sustained, long-term distributions and preserves capital over the long-term by generating exposure to Naira-denominated infrastructure debt in Nigeria, which generates regular and predictable long-term cash flows. It offers the most attractive yield on the NGX and has continuously paid quarterly distributions.

With its current capital base of over N130.5 billion, NIDF has a diversified and growing portfolio of infrastructure loans in a broad range of sectors including power generation, energy infrastructure, transportation, telecom, and social infrastructure (education and healthcare). By mobilising domestic capital for financing Nigeria’s infrastructure, NIDF has established a template that can bridge the infrastructure deficit facing not just Nigeria but countries across Africa.

More information can be found at www.nidf.ng

Chapel Hill Denham, 10 Bankole Oki, Ikoyi, Lagos, Nigeria.

Tel: 0700 242 735 4455.