2025 Performance, Strategic Growth and NAV Publication

The year 2025 marked an important milestone for the TDHI Recovery and Development Fund (RADF), which TDHI Group established to provide direct, structured financial support to selected high-potential SMEs.

Through an ambitious yet prudent investment strategy, a highly rigorous project selection process, and responsible financial resource management, RADF continued to strengthen its foundations and pursue sustainable, long-term growth.

The publication of the 2025 Net Asset Value (NAV), now available in the dedicated NAV section, marks another milestone in the Fund's development, providing stakeholders, strategic partners, and financiers with an additional reference point for assessing its financial evolution.

Growth and New Opportunities

Throughout 2025, RADF experienced growing interest from financiers and strategic partners seeking to participate in its distinctive development model.

This strengthened financial foundation enabled the Fund to:

• Identify new SMEs and projects with significant growth and development potential;

• Expand its capacity to support business growth, restructuring, and internationalisation;

• Explore new investment opportunities across innovative industries and strategically important markets;

• Consolidate its medium- to long-term investment approach, supported by selective capital allocation and disciplined risk assessment.

A Distinctive Model in the Market

The TDHI RADF operates through an exclusive and highly selective financial model: SMEs benefiting from the Fund's support have no direct repayment obligation to RADF.

TDHI Italia or TDHI International is responsible for repayment, depending on the corporate vehicle and contractual structure adopted.

This distinctive arrangement places particular importance on investment selection quality, financial discipline, and the sustainability of every supported initiative.

Each prospective investment undergoes an extensive evaluation conducted by TDHI HUB, incorporating technical, financial, economic, operational, and strategic due diligence within a medium- to long-term industrial development framework.

Only companies and projects demonstrating the required standards of sustainability, reliability, strategic relevance, and measurable growth potential are considered for inclusion in the RADF portfolio.

2025 NAV Publication – Transparency and Long-Term Value

The 2025 NAV in the Fund's dedicated NAV section provides an additional reference point for understanding RADF's financial position and development over the reporting period.

The publication reflects RADF's commitment to structured financial reporting, responsible fund management, and transparent communication with its stakeholders.

The Fund remains focused on strengthening its investment portfolio, expanding strategic partnerships, and supporting sustainable business development through a disciplined and forward-looking approach.

RADF represents more than a traditional financing instrument: it is a distinctive financial and industrial development model designed to accompany selected SMEs throughout their growth journey, creating long-term value for businesses, strategic partners, and financiers.

The 2025 NAV is available for consultation in the dedicated NAV section.