FOR IMMEDIATE RELEASE

PRESS RELEASE

February 23, 2026

SYGNUS CREDIT INVESTMENTS’ PUERTO RICO OPERATIONS DELIVER RECORD RESULTS AND PAY FIRST DIVIDEND

(Castries, St. Lucia) – Sygnus Credit Investments Limited (‘SCI’ or ‘the Group’) reported financial results for the six months ended December 31, 2025, marked by accelerated portfolio deployment, balance sheet resilience following Hurricane Melissa, and strong contribution from its Puerto Rico operations, despite temporary earnings pressure during the period. Total assets increased by 4.7% to US$228.13 million, supported by a highly diversified portfolio spanning 131 investments throughout 18 industries and 8 territories across the combined private credit platform. This translated into record net interest income growth of 14.0% to US$4.70 million for the period. SCI received its first-ever dividend of US$1.12 million from its core Puerto Rico business, Acrecent Financial Limited (AFL), during the December 2025 quarter.
SCI reported a lower total investment income of US$8.05 million, net investment income of US$5.30 million, and net profits of US$2.65 million for the 6 months ended December 2025, despite the record performance of its Puerto Rico operations. Earnings per share reached 0.46 US cents, which was lower than the 0.88 US cents for the corresponding period last year. The results reflect timing differences in capital deployment, which are expected to normalise in the short term, and some “offsetting” against the Puerto Rico Credit Fund (PRCF) investment income related to the US$1.12 million dividend payment.

AFL delivered record total investment income and net profit for the quarter and the 6 months ended December 2025. Total investment income grew 39.9% to US$5.83 million for 6 months 2025 versus US$4.17 million for 6 months 2024, and increased 62.5% to US$3.31 million for Q2 Dec 2025, versus US$1.48 million for Q2 Dec 2024. Net profits increased to US$3.30 million for 6 months 2025, versus US$3.07 million for 6 months 2024, and US$1.82 million for Q2 2025 versus US$1.48 million for Q2 2024.

SCI approached the capital markets, raising more than US$19.00 million in capital from its banking partners, retiring J$1.2 billion (or US$7.50 million equivalent) of debt, and extending its publicly listed Class C and D cumulative redeemable preference shares in December 2025. The Group also expects an initial drawdown of its first international financing facility in the coming months.

Jason Morris, Co-Founder, Executive Vice President and Chief Investment Officer, Sygnus Capital, said, “This period reflects disciplined execution across our private credit platform. The acquisition of AFL continues to generate tangible results, evidenced by the first-ever dividend paid to SCI, which is expected to recur on a semi-annual basis. At the same time, the Jamaican business is prudently navigating within a more challenging economic environment following the impact of Hurricane Melissa. However, SCI remains well-positioned to support entrepreneurs and affected communities by providing flexible capital amidst the growing demand. This sentiment is reinforced by the continued support of our local and international banking partners, who remain committed to the Group’s business model. We are confident that our disciplined approach to investment and active portfolio management will continue to deliver sustainable, long-term value to our shareholders.”
SCI maintains strong credit ratings from the region’s premier credit rating agency, CariCRIS, with ratings of CariBBB- and jmBBB+ (positive outlook). The Group has demonstrated prudent stewardship of capital, reflected in a relatively low annualized realized loss rate of 0.2% on its capital deployed. In December 2025, SCI received a significant partial repayment on its sole non-performing Stage 3 asset and expects to achieve full recovery of its original investment during 2026.

For full details on the financial statements for the period ended 31 December 2025, including the Management Discussion and Analysis and recorded earnings call presentation, please visit sygnusgroup.com or jamstockex.com.

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.

FOR IMMEDIATE RELEASE

PRESS RELEASE

December 29, 2025

SYGNUS MAKES SECOND CHRISTMAS DONATION TO BUSTAMANTE CHILDREN’S HOSPITAL IN PARTNERSHIP WITH KIWANIS CLUB OF CYBERCONNECT JAMAICA

(Kingston, Jamaica) – Sygnus has once again partnered with the Kiwanis Club of CyberConnect Jamaica to support its annual Christmas initiative at the Bustamante Hospital for Children, making a meaningful contribution of essential items and a cash donation to benefit children receiving care during the holiday season. The donation is part of Sygnus’ ongoing commitment to community engagement. By providing practical support and festive cheer, the initiative aims to bring comfort and encouragement to children and their families, especially as many continue to recover from the recent challenges brought by Hurricane Melissa.

Marking the second consecutive year of collaboration between Sygnus and the Kiwanis Club, the initiative saw the donation of gently used clothing and shoes, books, stationery, baby essentials, and toys. The items will directly benefit children in the Accident and Emergency Unit (A&E), Neonatal Intensive Care Unit (NICU), and Oncology wards, with more than 100 children expected to receive support. The A&E ward, in particular, was transformed into a Winter Wonderland, helping to create a festive and comforting environment for young patients during the holiday season.

The donation formed part of Sygnus’ Christmas Toys and Book Drive, where team members personally contributed items in support of the initiative, reinforcing the organisation’s people-led approach to community engagement.

Reflecting on the initiative and its impact, Anadeen Nembhard, Vice President and Head of People, Culture and Talent Management, said, “Christmas is a particularly meaningful time to support children who are receiving care in the hospital, and we are happy to be able to extend this kind of support through our continued partnership with the Kiwanis Club of CyberConnect Jamaica. This year, as families recover from the impact of Hurricane Melissa, we recognise the added challenges many are facing, and it is even more important to offer comfort and encouragement. At Sygnus, we believe in contributing in practical ways that make a real difference for children and families, especially during the holiday season. Being able to collaborate for another year and bring comfort, fun and edutainment to young patients is something our team is proud of.”

With a history of supporting the Bustamante Hospital for Children, the Kiwanis Club of CyberConnect Jamaica spearheaded the initiative, overseeing festive ward decorations and the allocation of donated gifts, ensuring children experienced joy and holiday cheer through its Christmas Cheer programme.

Tamara Dunbar, President of the Kiwanis Club of CyberConnect Jamaica, said, “Our Christmas signature project is about ensuring that children spending the holidays in the hospital feel celebrated and supported. As a Club dedicated to serving kids, this initiative is our way of wrapping them in love and joy, letting them know they are cherished and always remembered. Through partnerships like the one we share with Sygnus, we are able to transform hospital spaces into moments of celebration with festive décor and thoughtful gifts that bring smiles to young patients and their families, while reinforcing the message that the wider community cares deeply for them.”

The handover was further supported by Carbyne Capital Investments, which also partnered on the initiative by donating toys and appliances to enhance comfort within the wards. Speaking on the occasion was Martin Nesbeth, Co-Founder and CFO, Carbyne Capital, said, “At Carbyne, we believe that the holiday season is about more than gifts; it’s about creating moments of comfort and joy for those who need it most. Partnering with Sygnus and the Kiwanis Club of CyberConnect Jamaica allows us to bring a little extra warmth and happiness to the children at the Bustamante Hospital, reminding them and their families that they are cared for and not alone during this special time of year.”

The initiative comes at a time when many families continue to navigate challenges following Hurricane Melissa, underscoring the importance of community-led support during the holiday period. The Bustamante Hospital for Children is the only specialist children’s hospital in the English-speaking Caribbean, providing comprehensive paediatric care to patients from birth to 12 years old.

“We are deeply grateful for the generous support of the Kiwanis Club of CyberConnect Jamaica, Sygnus, and Carbyne. Donations like these do much more than brighten the hospital environment, they bring hope, comfort, and joy to our young patients and their families during what can often be a challenging time. Especially this year, as many families continue to recover from the impact of Hurricane Melissa, gestures of kindness such as this help to lift spirits, provide reassurance, and remind our children and their loved ones that they are not alone. Initiatives like these make a real and lasting difference in the lives of our patients, and we are heartened by the commitment of organisations and individuals who choose to invest in the well-being of our children,” said Michelle-Ann Richards-Dawson, Senior Medical Officer at the Bustamanate Hospital for Children.

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.

FOR IMMEDIATE RELEASE

PRESS RELEASE

December 9, 2025

SYGNUS BREAKS GROUND ON LAKESPEN INDUSTRIAL PARK, PROJECT SETS NEW STANDARD FOR RESILIENT DEVELOPMENT

PROJECT DRIVES JOBS, INVESTMENT, AND RECOVERY AFTER HURRICANE MELISSA

(Kingston, Jamaica) – Sygnus Real Estate Finance Limited (SRF) officially broke ground on its transformative 55-acre logistics and industrial development, Lakespen Industrial Park, on Tuesday, December 9, 2025. This development is set to accelerate economic growth and strengthen Jamaica’s infrastructure resilience following the passage of Hurricane Melissa. The groundbreaking comes shortly after SRF received regulatory sub-division approval, an important milestone for an investment that will help rebuild national capacity, stimulate job creation, and attract major international occupants.

Speaking at the groundbreaking, Vice President and Head of Real Estate and Project Finance, Sygnus Capital, David Cummings, shared, “SRF has as its mandate the provision of flexible capital to unlock the value of real estate across the region, while delivering risk-adjusted returns for our investors and shareholders. As a measure of our track record of success, we can highlight the more than J$18 billion in capital deployed since our inception in 2019. These results include the successful delivery of the 240,000 square foot One Belmont Class A commercial building on Belmont Road, as well as our industrial build-to-suit on Spanish Town Road. These projects demonstrate SRF’s ability to deliver game-changing developments that raise the standard of Jamaica’s built environment. With the Lakespen Industrial Park, we are pleased to bring another transformative development to the table, one that will support immediate employment, strengthen productivity, and help revolutionise Jamaica’s logistics landscape through thoughtful, resilient design.”

A Transformational Industrial Development
The Lakespen Industrial Park spans 55.4 acres, with 46.4 acres available for sale across 34 serviced lots ranging from 1 to 3 acres each. The development targets significant market demand, with an appetite for over 1 million square feet of logistics and warehouse space.

Prime Minister of Jamaica, Dr. The Most Honourable Andrew Holness, praised the project for its significance to national recovery and long-term growth. “We are indeed living in a time where climate is an important consideration for business decisions and economic activity. We are seeing climate events, particularly hurricanes, of greater intensity, greater frequency, and oftentimes overlapping. So, you need a government that appreciates this fact and can make policy to ensure that our country and our people are able to withstand this. The best way to describe this is resilience building. We give God thanks, that, though we were struck, we can stand here today and say that business continues. Sygnus is breaking ground on a 55-acre property to develop a logistics operation that will add value and dimension to Jamaica’s logistics aspirations. Companies like Sygnus will have a critical role to play in this reconstruction and redevelopment. I want to commend Sygnus, the developers, and their partners. We will rise again, we will rise stronger than before. We will build forward, and we will create the Jamaica that we are destined as a people to enjoy.” 

The Lakespen Industrial Park will be developed to world-class standards, with a strong emphasis on resilience and long-term reliability, a core design priority from the project’s inception. The Park will feature a 2.4-metre (8-foot) perimeter wall outfitted with anti-climb security spikes, complemented by an extensive network of surveillance cameras throughout all common areas. Security will be further strengthened by a rapid-response armed security team stationed on site. The development will include an underground electrical distribution system designed to improve reliability and aesthetics, along with a 70,000-gallon reserve water tank to support business continuity for buyers. Together, these features aim to deliver a modern, secure, and fully serviced industrial environment that meets growing demand in the logistics and warehousing sector. The project’s execution has advanced steadily, beginning with the signing of the Design-Build contract with China Harbour Engineering Company (CHEC) in December 2024. With the groundbreaking, the publicly listed company is on track to deliver the lots by summer 2027.

Minister of Industry, Investment and Commerce, Senator the Honourable Aubyn Hill, highlighted the significance of the investment. “Let us thank Sygnus Real Estate Finance for its vision to drive economic growth across the Caribbean. This commitment to financial and building innovation and the development of really modern commercial and living spaces in Jamaica is evident in projects like One Belmont, which is a fabulous building, Penwood, and now the Lakespen Industrial Park. The development represents a strategic investment in Jamaica’s industrial future. This project showcases the collaboration and drive of Jamaican companies, workers, and investors, showing that Jamaica is stable.”

Beyond its physical infrastructure, the industrial park will stimulate significant economic activity and job creation within the Lakespen and wider St. Catherine communities. The improved access and enhanced amenities of the development are expected to attract additional private investment, creating a ripple effect of growth for businesses seeking warehousing and logistics solutions. The project demonstrates how private capital can deliver widespread public benefit, strengthening Jamaica’s industrial ecosystem while supporting livelihoods and long-term community advancement.

Berisford Grey, President and CEO of Sygnus Capital, reflected on the broader impact of the Lakespen Industrial Park, noting how the project not only rebuilds infrastructure but also creates new opportunities for investment and job creation across Jamaica. “The Lakespen Industrial Park reflects Sygnus’ commitment to building resilient infrastructure and unlocking new engines of economic activity for Jamaica. With over US$20 million to be invested, this project is a powerful demonstration of how we are recalibrating the capacity of Jamaica’s logistics base to meet the demands of a modern, competitive economy. The strong market interest we’ve already received, the partnerships we’ve secured, and the world-class features we are delivering all speak to the confidence investors have in Jamaica’s logistics sector. This is a major step forward for Sygnus Real Estate Finance and for the country, and we are proud to play our part in accelerating national growth.”

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.

FOR IMMEDIATE RELEASE

PRESS RELEASE

NOVEMBER 25, 2025

SYGNUS MARKS FIFTH CONSECUTIVE YEAR OF BREAST CANCER SUPPORT: FUNDS TO ASSIST WITH NEW MAMMOGRAPHY MACHINE, SCREENINGS AND LIFESAVING ACCESS

(Kingston, Jamaica) Sygnus has once again reaffirmed its commitment to the fight against breast cancer with a donation to the Jamaica Cancer Society (JCS) and Jamaica Reach To Recovery (JR2R). This handover marks five consecutive years of partnership and purpose, empowering women and men across Jamaica with access to critical screenings, care, and emotional support.

Since the initiative’s inception, Sygnus’ consistent support has enabled hundreds to receive free or subsidised mammograms through the JCS, while also helping JR2R provide care packages, counselling, and survivor support services. This year’s donation will continue to fund these vital services, while also contributing toward the JCS’ new fundraising appeal for a state-of-the-art mammography machine. Acquisition of this machine will significantly strengthen early detection efforts, expanding access to lifesaving screenings for women across the island.

Damani Reid, Senior Manager of Investment Management, Sygnus, shared that this milestone represents more than a corporate gesture. “For us at Sygnus, this partnership is more than an annual gesture, it’s a shared commitment to hope, healing, and humanity. Each year, we see how these contributions help persons take control of their health, access lifesaving screenings, and find the strength to rebuild their lives. We are proud to walk alongside the Jamaica Cancer Society and Jamaica Reach to Recovery as partners in this fight, ensuring that awareness leads to action and that no one faces breast cancer alone.”
Executive Director Roshane Reid-Koomson welcomed Sygnus’ continued partnership,
highlighting the impact of their donation. “The Jamaica Cancer Society has launched a new appeal to fund a mammography machine, which will cost J$50 million. While this handover is symbolic, it is also incredibly practical for us because so many women are in need of mammograms. In 2022 alone, Jamaica recorded over 1,300 new cases of breast cancer.

Cancer remains the second leading cause of death and the second leading cause of
cancer-related deaths in Jamaica. Screening is directly tied to treatment – if we cannot screen, we cannot detect, and if we cannot detect, we cannot treat. That is why this appeal for a new mammography machine is so important. Survivorship depends on early detection. We are incredibly grateful to Sygnus for partnering with us once again, providing a donation that will go toward free screenings for women. Contributions like this make a real difference and help sustain our work. We look forward to many more years of partnership and impact together.”

In addition to its ongoing support for screening services, Sygnus’ contribution to Jamaica Reach to Recovery continues to make a meaningful difference in the lives of breast cancer survivors and women undergoing treatment.
Sandra Samuels, President of Jamaica Reach To Recovery, expressed, “On behalf of all the
women we serve, we are deeply grateful to Sygnus for their consistent support over the past five years. At Jamaica Reach to Recovery, we are not funded by the government or any organisation, and we rely entirely on donations and fundraising. Contributions like Sygnus’ make a real difference, helping women access essential services such as mammograms, needle biopsies, scans, medication, and other treatment-related costs that can run up to J$150,000 per person. A diagnosis of breast cancer comes with significant financial challenges, and every cent counts. Sygnus’ generosity ensures that more women can receive the care they need, and for that, we are truly thankful.”

Breast cancer remains the leading cancer among women in Jamaica, and early detection
continues to be the most effective weapon in saving lives. Recent local expert analysis
highlights that:
● Jamaican women are diagnosed at a younger age than their U.S. counterparts, with a
median onset of 52-54 years.
● Nearly half of patients are diagnosed at stage 3 or 4, with 33-36% under 50 and 16%
younger than 40.
● Breast cancer tends to be more aggressive locally, with a higher prevalence of
triple-negative cancers.
● Only 8 of 14 parishes currently offer mammography access.

These statistics underscore the critical importance of Sygnus’ support in funding screenings, advancing the acquisition of a new mammography machine and essential support services for women navigating diagnosis and recovery. Through initiatives like this, Sygnus aims to amplify awareness, encourage early detection, and empower women with hope, action, and access.

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.

FOR IMMEDIATE RELEASE

PRESS RELEASE

SEPTEMBER 11, 2025

SYGNUS CREDIT INVESTMENTS SURPASSES US$15 MILLION IN INVESTMENT INCOME, EXPANDS REGIONAL IMPACT, AND LEVERAGES PUERTO RICO OPERATIONS

(Castries, St. Lucia) – Sygnus Credit Investments Limited (SCI) has announced its financial results for the year ended June 30, 2025, marking a transformative year of growth and regional expansion. For the first time in its history, SCI’s record total investment income exceeded US$15.39 million, up 52.4% from US$10.10 million in 2024, while net investment income surged by nearly 90% to record US$10.02 million. These achievements were fueled by Sygnus Puerto Rico LLC, which delivered US$4.67 million in profits, highlighting the significant role of the Puerto Rico operations in SCI’s overall performance.

During the financial year, SCI deployed US$87.7 million across its regional private credit platform, supporting businesses in diverse industries including infrastructure, energy, hospitality, telecommunications, and financial services. The Group also exited US$21.9 million in investments during the year and an additional US$20 million subsequent to year-end, providing liquidity to redeploy into new opportunities. Total private credit investments grew to US$209.8 million, with SCI’s portfolio companies spread across 22 industries and 8 territories, demonstrating its critical role in financing regional economic growth.

While net profit attributable to shareholders was US$4.28 million, compared to US$6.03 million in 2024, the results were impacted by charge-offs to two portfolio companies, whereby SCI recouped all of its original investment in one of the portfolio companies and seized the assets of the other, which offset a portion of the charge-off. Additionally, SCI recognised higher impairment allowance on an asset in the portfolio undergoing restructuring, as well as higher unrealised fair value adjustments during the period.

Despite this, SCI’s core earnings remained robust, with net investment income per share rising to 1.73 US cents versus 0.90 US cents in the prior year. The company continued to reward shareholders for a 14th consecutive time, paying US$3.2 million in dividends for the year, bringing cumulative dividends distributed since 2018 to US$16.7 million, equivalent to 27.4% of share capital.

Commenting on the results, Jason Morris, Chief Investment Officer at Sygnus, said, “Crossing the US$15 million milestone in investment income is a monumental achievement that reflects SCI’s evolution as a regional leader in private credit. The outstanding performance of our Puerto Rico business, coupled with strong growth in net investment income, validates our strategy of building a diversified platform that can withstand headwinds while unlocking opportunities for Caribbean businesses. Even with higher impairment allowances, which are not crystallised losses and could be reversed, affecting bottom-line earnings, our ability to scale investment deployment, deliver consistent dividends, and expand into new markets underscores the resilience and sustainability of SCI’s business model.”

Looking ahead, SCI is advancing plans to participate in a dedicated asset-backed investment company in an English-speaking Caribbean territory, alongside an international financial partner, further enhancing its role as an innovator in regional private credit. The firm is also pursuing access to more than US$100 million in new financing, positioning itself to accelerate deployment across the region. In addition, SCI is preparing to close an upcoming US$10 million of dedicated financing from an international financing partner, further strengthening its capital base and flexibility to unlock new opportunities.

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.

FOR IMMEDIATE RELEASE
PRESS RELEASE

JULY 24, 2025

SECOND CONSECUTIVE QUARTER OF PROFITS SIGNALS SUCCESSFUL INVESTMENT CYCLE TRANSITION AND SETS THE STAGE FOR CONTINUED GROWTH

Sygnus Real Estate Finance Limited (“SRF” or “the Company”) released its financial results for the nine months ended May 31, 2025 (“9M FY2025”), reporting a second consecutive quarter of net profit. Earnings for the quarter amounted to J$151.74 million, following J$38.24 million in the previous quarter. These results reflect the success of strategic initiatives aimed at reducing earnings variability, usually associated with long-term real estate investments, and underscore a continued commitment to unlocking shareholder value.

SRF is continuing to deepen its footprint across Jamaica with the acquisition of a majority stake in Delphin Holdings Limited, a newly formed joint venture that owns a 4.9-acre property in New Court, Trelawny. This acquisition comes as the company continues to scale up its portfolio of transformational real estate investments.

SRF’s share of profits from joint ventures totaled over J$543.85 million for the May quarter and J$583.11 million year-to-date and were a key driver in the profitability reported during the past two interim periods. During the quarter, SRF secured a controlling interest of 86% in Delphin Holdings Limited, positioning the company to capitalise on long-term opportunities in one of Jamaica’s most promising development corridors.

Capital deployed amounted to J$2.34 billion during the nine-month period, with an allocation of J$927.04 million to investments in third-party Real Estate Investment Notes (REINs) across commercial, hospitality and residential asset classes, as SRF seeks to drive growth in its income generating capacity with the intention of improving the consistency of its interim financial results going forward.

SRF advanced further into its second investment cycle, focusing on the development of two major assets: the 55-acre industrial park in Lakespen, St. Catherine, and the 14.4-acre hospitality project in Mammee Bay, St. Ann. The Company also made notable progress on its Belmont Road commercial tower, achieving first tenant occupancy and progressing interior buildouts. Other key milestones included the successful sale of the Hillcrest and Seaview assets and the exit from two third-party real estate investment notes. With the transition between investment cycles underway, SRF has realized and continues to anticipate increased capital redeployment from completed exits and upcoming investments. As a result, book value per share increased by 7.3% to J$24.14, up from J$22.49 in the prior year.

The Company’s enhanced profitability was partly supported by the temporary reduction in management fees, effective September 1, 2023. Management fees were reduced from 2.00% to 1.00% of Core Assets Under Management (CAUM) for the period September 1, 2023 to August 31, 2024, and adjusted to 1.25% of CAUM for the period September 1, 2024 to August 31, 2025. This reduction contributed to lower operating expenses during the investment cycle transition and is scheduled to revert to 2.00% of CAUM effective September 1, 2025.

Looking ahead, SRF remains steadfast in sustaining strong profitability through prudent investment management, with a continued focus on enhancing shareholder value.

“The current financial year represents more than just strong financial results,” said Jason Morris, Executive Vice President and Chief Investment Officer, Sygnus Group. “We’ve successfully closed out our first investment cycle, rewarded our shareholders with their first dividend, and begun executing the next phase of our strategy with disciplined focus, including the evaluation of opportunities in multiple Caribbean territories outside of Jamaica. From commercial towers to new ventures in Trelawny, we’re not just developing properties, we’re building the foundation for long-term growth and impact. We remain committed to unlocking value for our shareholders while contributing to national development through high-impact real estate projects.”

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.

FOR IMMEDIATE RELEASE
PRESS RELEASE

JULY 3, 2025

FUELING AMBITION, FUNDING TRANSFORMATION: SYGNUS EXPANDS ITS SUPPORT FOR PROJECT STAR

(Kingston, Jamaica) – Real transformation often starts at the grassroots level. With a second consecutive donation to Project STAR, Sygnus Capital is once again stepping up to help power that change. The alternative investment firm’s renewed support will expand access to job readiness training, small business grants, and psychosocial services in underserved communities across Jamaica, reaching even more Jamaicans who are ready to reimagine their futures.

“At Sygnus, we invest in people, in communities, in potential, and in lasting transformation,” said Berisford Grey, President and CEO of Sygnus Capital. “We believe that every Jamaican deserves a fair shot at building a better future, and Project STAR is helping to create those pathways in the communities that need them most. This year’s donation is about more than funding, it’s about standing with individuals and families who are ready to rise, and helping to scale the kinds of initiatives that move people into real, sustainable opportunities. That’s the kind of change we’re proud to be a part of.”

This latest contribution brings Sygnus’ total investment in Project STAR to J$10 million over two years. The funds are helping to deepen the reach of Project STAR’s community-driven programmes, which are designed to unlock new possibilities through skills development, entrepreneurship, and psychosocial support.

Project STAR, a joint initiative between the Private Sector Organisation of Jamaica (PSOJ) and the Jamaica Constabulary Force (JCF), has benefited residents across five communities: Parade Gardens, Rose Gardens, May Pen, Savanna-la-Mar, and Salt Spring. Communities are selected based on rigorous assessments of crime data, vulnerability, and readiness for intervention, ensuring that solutions are both strategic and sustainable.

“We are thrilled to welcome Sygnus as a Signature Donor,” said Keith Duncan, Co-Chair of Project STAR. “The Sygnus Group continues to be a pillar of support to Project STAR. The additional donation of J$5 million is not just financial support; it is a reflection of Sygnus’ deep commitment to creating social and economic change in the lives of so many Jamaicans and their dedication to national development and inclusive growth. We are truly grateful for your generosity and partnership on this journey. This partnership enables us to do more, reach further, and sustain momentum where it matters most.”

To date, over 15,000 residents have been impacted by STAR-led or -supported activities.

In Year 3 alone, which concluded in May 2025, some impact highlights include:

• 61 entrepreneurship-based activities were implemented, benefiting 1,150 residents
• Over 10,000 hours of job readiness training delivered across all five STAR communities

Behind these numbers is the daily work of people like Myshka Allen, Community Project Officer at Project STAR, who helps turn community needs into actionable solutions. “Our work begins with listening,” said Allen. “At Project STAR, we don’t walk into communities with a pre-set plan. We ask the residents what they need and build solutions from there. Companies like Sygnus make that possible because transformation isn’t cheap. It’s not just about hosting events. It’s about reshaping how people see themselves and setting a foundation for the next generation.”

Allen describes a visible shift in community attitudes: people are showing up differently, more confident, more engaged, and more hopeful. Many who once waited for help are now taking ownership of their futures. According to Allen, this new mindset is the true marker of transformation, and it’s a shift enabled by consistent support from partners like Sygnus.

For more information on Project STAR and its impact, visit projectstarja.com.

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.

FOR IMMEDIATE RELEASE
PRESS RELEASE

JUNE 26, 2025

SYGNUS CAPITAL ARRANGES US$8.6 MILLION PRIVATE CREDIT FACILITY FOR EXPRESS FITNESS’ ACQUISITION OF MIGHTY PILATES IN THE UNITED STATES LANDMARK DEAL DEMONSTRATES SYGNUS’ LEADERSHIP IN PRIVATE CREDIT AND EXPRESS FITNESS’ INTERNATIONAL GROWTH EXPANSION

(Kingston, Jamaica) – Sygnus Capital Limited (“Sygnus”) has successfully arranged a US$8.6 million private credit facility to support the acquisition of Mighty Pilates LLC by Express Fitness Limited. The transaction marks a significant milestone in the regional health and wellness industry, as Express Fitness expands its footprint beyond the Caribbean to the competitive US fitness market.
The financing was provided by Sygnus Credit Investments Limited (SCI) to acquire 65% of the assets of Mighty Pilates, a boutique fitness platform operating premium studios across California’s San Francisco Bay Area and Southern California. Mighty Pilates operates nine high-end studios offering energising, full-body workouts that blend classical Pilates with contemporary fitness practices. Mighty Pilates locations include:
●Northern California: Marin, Presidio Heights, Berkeley, Lafayette, Danville, Russian Hill
●Southern California: Santa Monica, Westwood Village, Ocean Park
“This transaction demonstrates the strength and flexibility of private credit in enabling regional businesses to seize global opportunities. Sygnus is proud to partner with Express Fitness on this game-changing acquisition, supporting them to fulfill a major business goal. We remain committed to empowering Caribbean firms to expand across borders and realise their full potential,” said Gregory Samuels, Senior Vice President and Head of Investment Banking.
The deal underscores Sygnus’ role as a strategic capital partner, delivering customised financing solutions for businesses across the region. Notably, SCI also played a role in the 2019 acquisition of Express Fitness by Norbrook Equity Partners, which continues to support the company’s aggressive growth ambitions.
“Our acquisition of Mighty Pilates marks a pivotal milestone in Express Fitness’ evolution into a global wellness platform,” said Khary Robinson, Executive Chairman of Norbrook Equity Partners, the operator of Express Fitness. “Mighty Pilates is a respected brand with a strong presence in California’s fitness scene, and this strategic acquisition allows us to expand into the dynamic US wellness market with a brand that shares our commitment to community, innovation, and exceptional member experiences. With Sygnus’ support, we’re excited to drive growth and position Express Fitness as a serious player on the international stage.

Founded in California, Mighty Pilates is renowned for offering energising, full-body workouts that blend classical Pilates with contemporary athleticism. The studios are designed to foster inclusive communities led by experienced instructors, attracting a loyal and diverse client base.
With this deal, Express Fitness moves beyond its position as Jamaica’s largest fitness chain and cements itself as a rising regional wellness leader with global ambitions. Express currently operates 11 locations in Jamaica with additional growth planned across the Caribbean and North America. The acquisition aligns with Norbrook’s broader strategy to scale innovative Caribbean businesses into international markets.
Sygnus continues to scale its private credit platform, offering flexible and customised growth capital to mid-market companies across various sectors. The firm’s ability to structure complex, cross-border transactions sets it apart as a trusted partner for ambitious companies seeking transformative growth.

“This landmark acquisition underscores the transformative power of private credit to fuel bold, cross-border expansion,” said Jason Morris, Executive Vice President and Chief Investment Officer at Sygnus Capital, the investment manager for Sygnus Credit Investments. “Through SCI, we are purposefully deploying flexible capital to help Caribbean businesses like Express Fitness seize global opportunities and scale at pace. Our goal is to deliver outsized impact—and this deal is a testament to the strategic role SCI plays in enabling regional champions to thrive on the international stage.”

 

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.

FOR IMMEDIATE RELEASE

PRESS RELEASE

JUNE 9, 2025

TROPICAL BATTERY EXTENDS PUBLIC OFFER TO JUNE 20 TO FACILITATE INVESTOR DEMAND

 

(Kingston, Jamaica) – Tropical Battery Company Limited has announced a two-week extension of its Additional Public Offering (APO), moving the new closing date from the originally scheduled Friday, June 6, 2025, to Friday, June 20, 2025.

The extension directly responds to interest from institutional and individual investors, many of whom have requested additional time to formalise their participation in the offer. Tropical Battery is committed to enabling broad-based investor access and involvement in this capital raise.

“We are extremely encouraged by the level of interest shown in our APO to date,” said Alexander Melville, CEO of Tropical Battery. “This extension is to ensure that all interested investors, especially those who have expressed a desire to participate but need more time, can do so comfortably.”

Over the past two years, Tropical Battery has implemented a focused growth strategy through key acquisitions, including U.S.-based Rose Batteries and investments in the Dominican Republic-based solar energy provider KAYA Energy Group. As a result, Tropical Battery is now positioned as a regional leader in clean energy, energy storage, and electric mobility.

The APO, which opened on May 22, 2025, is part of Tropical Battery’s strategic plan to raise capital to support its continued growth across the region. Proceeds will fund regional expansion and clean energy initiatives, repay acquisition-related debt, settle outstanding bonds and transaction costs, and strengthen working capital. The shares are being offered for J$1.87 each, with a minimum purchase of 1,000 shares, which amounts to J$1,870.
Sygnus Capital Limited is the Lead Arranger, with NCB Capital Markets Limited and Sagicor Investments Jamaica Limited serving as Co-Brokers, and JMMB Securities Limited and Mayberry Investments Limited acting as Selling Agents.

Interested investors can access the prospectus, application forms, and complete offer details at: https://apo.tropicalbattery.com/

 

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About Tropical Battery

Established in 1950, Tropical Battery has become a household name in premium energy solutions in the Caribbean. Listed on the Jamaica Stock Exchange in 2020, the company has diversified beyond its core car battery business into automotive care products, renewable energy and electric mobility as part of its transformation into a diversified energy group enabling sustainability with innovation, technology and exceptional service delivery. The Group now includes Kaya Energy Group based in the Dominican Republic and Rose Batteries based in California, USA.

FOR IMMEDIATE RELEASE

PRESS RELEASE

MAY 7, 2025

 

SYGNUS UNVEILS ORIGINAL CHILDREN’S COMIC STRIP FOR READ ACROSS JAMAICA
DAY, REACHES OVER 100 STUDENTS AT RIVERTON MEADOWS AND ST. FRANCIS
PRIMARY

 

(Kingston, Jamaica) – Sygnus has added a creative twist to this year’s Read Across Jamaica
Day by launching an original children’s comic strip, Captain Capital and the Popcorn Plan,
aimed at encouraging early readers while introducing young students to basic ideas about
business and problem-solving. The comic was unveiled during visits to Riverton Meadows
Early Childhood Centre and St. Francis Primary and Infant School, where Sygnus engaged
with over 100 students through storytelling, interactive activities, and giveaways.

The comic, inspired by the Sygnus Investment Banking team, simplifies concepts like
entrepreneurship and investment through a fun, age-appropriate story. It follows the journey of
Captain Capital, a new superhero who helps a successful popcorn business expand, showing
children how ideas, teamwork, and smart money decisions can create real change. This fun,
fiction-based comic was designed with young readers in mind, supporting their engagement with
text while also planting early seeds of curiosity about how businesses grow and help
communities thrive.

“This year we wanted to do something special, something that would make reading not just
educational but also inspiring,” said Elizabeth James, Vice President and Head of Wealth and
Client Services at Sygnus Capital. “Captain Capital and the Popcorn Plan is our way of
connecting with children on their level, introducing them to the world of business and finance
through storytelling they can enjoy and understand. We believe when children see themselves
in stories, they start to see what’s possible for their own futures.”

As part of its Read Across Jamaica Day activities at Riverton, Sygnus team members spent part
of the day reading to students, hosting lively question and qnswer sessions, distributing prizes,
playing games and in a playful nod to the story, students were treated to popcorn, adding a fun
and flavorful touch to the interactive session. The highlight of the day was not just the comic
strip debut, but the joy and curiosity it sparked in the classroom.

Mrs. Marcia Smiley, a literacy teacher for the 5+ age group at Riverton Meadows Early
Childhood Centre, shared, “Most of our students are ready, but we still have a few we’re working
with to get them up to standard. Many are at the preliminary level and are well-prepared for
Grade 1; they can function independently. For those who aren’t quite there yet, we have a
compulsory reading club during the week. Along with the reading books we receive from
initiatives like Read Across Jamaica Day, we focus on letter sounds, phonics, basic sight words,
and sentence construction. Read Across Jamaica Day, and the involvement of organisations like
Sygnus, is a great venture to help prepare our students and make them more equipped for
society.” She continued, “I’d like to say a big thank you to Sygnus. We really appreciate the
effort they’ve put into helping to build and strengthen our school. We’re grateful for everything
they’ve donated to this institution.”

In addition to the reading sessions, Sygnus also made an official handover of essential supplies
to Riverton Meadows Early Childhood Centre. The donation included children’s books for ages 3
to 7, along with general school supplies and other classroom materials designed to support both
students and teachers.

The celebration continued with a heartwarming visit to St. Francis Primary and Infant School,
where Sygnus team members once again brought stories to life by reading a range of books,
including Sygnus’ original comic. They also hosted engaging giveaways, sparking excitement
among the students. The children enjoyed popcorn and an interactive session filled with energy
and fun, while teachers were honoured with a special cake in celebration of Teacher’s Day.

The visit to St. Francis not only brought joy to students and teachers, but also laid the
foundation for a meaningful partnership. Principal Shallette McIntyre, expressed her gratitude
and shared how the Sygnus team’s involvement aligns with the school’s mission. “The
participation of the Sygnus team in Read Across Jamaica Day at the St. Francis Primary and
Infant School has forged a new relationship between the business community and the school.
Their interaction with the students from the Infant Department to the Primary level along with
their generous donation of books to the library, has cemented this year’s theme of ‘Safe
Guarding the Future of our Children: Adapting a Culture of Reading’. The wide range of
books will expose, enlighten, educate and entertain our children, helping to foster a culture of
reading. Thank you to Sygnus and we look forward to future endeavours with the team.”

This collective support underscores Sygnus’ commitment to literacy and education, not just
through engaging experiences but through tangible resources that strengthen learning
environments.

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About Sygnus

Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, and private equity, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.