TOUCH VENTURES LIMITED — Net Asset Value 2025

Feb 13, 2025

14 February 2025

Touch Ventures Limited (ASX: TVL)

Net Tangible Asset Backing Position: 31 January 2025

	Current Month	Prior Month
Net Tangible Asset Backing	A$84.1m	A$85.8m
Net Tangible Asset Backing per share1	$0.119	$0.121

Management Commentary

Net Tangible Asset Breakdown

At 31 January 2025, Touch Ventures Limited ( Touch Ventures or the Company ) had $45.1m of cash and other[2] (6.4c per share), making up ~54% of the net asset value of $84.1m (11.9c per share).[3]

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1. NTA figures are unaudited and no adjustments have been made for future exercises of options or performance rights, future tax liabilities/benefits or end of period accounting adjustments.

2. Cash and other includes $19.2 million of cash, $25 million of term deposits and $0.9 million of other working capital items.

3. Closing ASX share price as at 31 January 2025.

Refundid

Refundid raised capital from new and existing VC investors via a SAFE (Simple Agreement for Future Equity). Refundid is showing good momentum with customers and new products, and the capital raise supports ’ growth in Australia and the US. As a result of the raise, the carrying value was adjusted down to $4.3m to reflect the terms in this investment round and the yearly review of the carrying value of our portfolio companies, recognising a fair value loss of $1.6m. Our current carrying value of $4.3m remains above our total amount invested ($2.4m).

Movement in January Net Tangible Asset Backing (NTA)

The reduction in NTA was driven by the markdown of Refundid. Other movements in the NTA per share predominately relates to operating expenses, interest accrued and unrealised foreign currency adjustments of investments denominated in foreign currencies.

Authorised for release by the Touch Ventures Board

About Touch Ventures

Touch Ventures Limited ( Touch Ventures ) is an ASX-listed investment holding company. We provide growth capital to high growth, scalable businesses.

Contact details

For further information, please visit our investor website https://investors.touchventures.com or contact Investor Relations at investors@touchventures.com

Important Notice

Touch Ventures Limited ACN 612 559 958 (ASX: TVL) has prepared the information in this announcement. This announcement has been prepared for the purposes of providing general information only. It does not constitute an offer, invitation, solicitation or recommendation regarding the purchase or sale of any securities in TVL, nor does it constitute a financial product or investment advice, nor take into account your investment, objectives, taxation situation, or financial situation or needs. Any investor must not act based on any matter contained in this announcement in making an investment decision but must make its own assessment of TVL and conduct its own investigations and analysis. Past performance is not a reliable indicator of future performance.

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Portfolio Summary

Company	Overview	Shareholding4	Carrying Value5	NTA per share ($)	% of NAV
	Reshop is a US retail technology company on a mission to make returns more valuable for shoppers and retailers by powering instant customer refunds.	9.7%	US$6.6m / A$10.6m	0.015	12.6%
	Tixel is a live entertainment ticket resale platform, helping fans to buy or sell tickets for a large variety of live events.	12.5%	A$4.5m	0.006	5.4%
	Ordermentum is a digital ordering and payments platform for the wholesale food and beverage industry.	4.0%	A$3.0m	0.004	3.6%
	Preezie is an Australian eCommerce technology company that provides an online guided selling customer engagement platform.	17.6%	A$4.5m	0.006	5.4%
	Refundid is an instant returns platform for shoppers providing refunds to consumers before their items are returned to the merchants.	12.3%	A$4.3m	0.006	5.1%
	Sendle is an Australian & U.S.-based virtual parcel courier platform targeting SMB eCommerce merchants.	9.3%	US$1.2m / A$1.9m	0.003	2.2%
Early Stage Portfolio	Early-stage investments limited to 5% of the Touch Ventures portfolio.	Various	A$4.8m	0.007	5.7%
Strategic Investments	Investments that strengthens Touch Ventures local and global network.	Various	A$5.5m	0.008	6.5%
Total Portfolio Value			A$39.0m	0.055	46.4%
Cash and other6			A$45.1m	0.064	53.6%
Total Net Asset Value / NTA per share7			A$84.1m	0.119	100.0%

1. Only includes share securities issued. Excludes any ESOP (allocated or unallocated), convertible notes or options / warrants.

1. Current valuation has been translated using the prevailing foreign exchange rates at month end.

1. Cash and other includes $19.2 million of cash, $25 million of term deposits and $0.9 million of other working capital items.

2. Totals may not reconcile due to rounding.

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