Tribeca Global Natural Resources : Appendix 4D Interim Financial Report to 31 December 2021

For personal use only

Tribeca Global Natural Resources Limited

ACN 627 596 418

Appendix 4D

Interim Financial Report

for the half-year ended

31 December 2021

For personal use only

Tribeca Global Natural Resources Limited

ACN 627 596 418

Appendix 4D

For the half-year ended 31 December 2021

Interim report

This interim financial report is for the reporting half-year ended 31 December 2021. The Company commenced operations on 12 October 2018, following its successful listing on ASX. This is the fourth interim reporting for the Company.

Results for announcement to the market

	31 December	31 December
	2021	2020		Movement
	$	$	$	%
Profit from ordinary activities	53,197,089	45,048,853	8,148,236	18.09
Profit from ordinary activities
after tax attributable to
members	28,344,229	30,217,822	(1,873,593)	(6.20)
Basic earnings per share	0.46	0.49	(0.03)	(6.12)
Diluted earnings per share	0.46	0.49	(0.03)	(6.12)

Dividends

There were no dividends paid or proposed during the period.

Dividend reinvestment plan

There is currently no dividend reinvestment plan in place.

Net tangible assets	31 December	30 June	31 December
	2021	2021	2020
	$	$	$
Net tangible assets (per share) before tax	3.19	2.90	2.05
Net tangible assets (per share) after tax	3.00	2.54	2.18

Brief explanation of results

The Company's NTA increased on a post-tax basis by +18.13% per share for the half year ending December 2021. By comparison, the MSCI ACWI Commodity Producers Index gained +1.26% over the same period. The performance of the Company's portfolio was driven by bottom-up stock and sector selection. In particular, exposures related to energy transition and decarbonisation such as base metals, battery metals and carbon credits saw very strong performance, especially in the lead up to the COP-26 United Nations Climate Change Conference held in Glasgow in November, at which policy makers debated net zero emission targets, which will have a monumental impact on demand for various commodities over coming decades. The Company's exposure to fiscal stimulus and infrastructure related demand via bulk commodity producers and diversified miners also contributed positively. The fourth quarter also saw strong performance from the portfolio's precious metals holdings as inflationary concerns re-emerged as a function of global supply chain issues, labour shortages and central banks indicating a wind-down of QE and eventual rate rises after inflation was deemed less transitory than first anticipated.

For personal use only

Tribeca Global Natural Resources Limited

ACN 627 596 418

Appendix 4D (continued)

For the half-year ended 31 December 2021

Audit

This report is based on the Interim Financial Report which has been subject to independent review by the auditors, Ernst & Young. All the documents comprise the information required by the Listing Rule 4.2A.

For personal use only

Tribeca Global Natural Resources Limited

ACN 627 596 418

Interim Financial Report

for the half-year ended

31 December 2021

For personal use only

Tribeca Global Natural Resources Limited

For the half-year ended 31 December 2021

Contents	Page
Corporate Directory	1
Directors' Report	3
Auditor's Independence Declaration	5
Statement of Profit or Loss and Other Comprehensive Income	6
Statement of Financial Position	7
Statement of Changes in Equity	8
Statement of Cash Flows	9
Notes to the Financial Statements	10
Directors' Declaration	31
Independent Auditor's Review Report	32