External broker reports(aggregated public sources), CardinalStone

CardinalStone

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing.

Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

External broker reports(aggregated public sources)

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing. Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

Thematic (Sector/Industry)

Nigeria Financials / Thematic (Sector/Industry)

<ul><li>Last week, for the third successive week, the local bourse closed positive, with the ASI rising 2.54% WoW, while the MEP gained 3.07%, outperforming by 54bps.</li><li>However, year-to-date, the MEP has gained 5.41%, trailing behind the ASI’s 5.64% return by 23bps.</li><li>The MEP’s outperformance was primarily driven by our strong overweight position in MTNN, which surged +11.73% WoW, making it the top contributor to market gains.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Last week, for the third successive week, the local bourse closed positive, with the ASI rising 2.54% WoW, while the MEP gained 3.07%, outperforming by 54bps.However, year-to-date, the MEP has gained 5.41%, trailing behind the ASI’s 5.64% return by 23bps.The MEP’s outperformance was primarily driven by our strong overweight position in MTNN, which surged +11.73% WoW, making it the top contributor to market gains.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CardinalStone Model Equity Portfolio - S3:Ep18 - 12-05-25