Investor
Day.

The Venue, Morningside

The programme.

Origin of Maia Capital

Genesis, investment philosophy and our journey

A Tale of Two Cities

“It was the best of times, it was the worst of times…”

Progress for some. Pressure for many.

The widening divide.

Bridging the gap through private capital.

“It is these gaps that Maia exists to mobilise private capital… in a commercially viable way.”

Competitive financial returns for investors, and something meaningful left behind.

Financial performance and social progress are not mutually exclusive.

Capital that expands access.

A vision shaped by necessity.

Together, we can make a difference.

Fund I overview

Maia Debt Impact Fund I  ·  investment record to 1 September 2026

Raised R1 074.0m across two closes: December 2021 First Close and June 2024 Final Close. The investment period ends on 7 December 2026.

R1 079.4m, committed.

Seven closings, 2022 to 2026.

Six sectors, every line within the 30% limit.

Portfolio overview

Maia Debt Impact Fund I  ·  six portfolio companies

Impact

Theory of change, Impact Report II and a case study

97.9% of investable capital, by impact theme.

Gender inclusion is measured across the whole portfolio.

Our impact screening process.

Maia Capital developed its Theory of Change to analyse and measure impact properly. Every new opportunity is screened in three steps.

The problems we address.

Nine problems, across people and community development and territorial development. Every transaction must link to at least one of them.

From problem to legacy.

Legacy is the key test: what remains for the society even if Maia Capital no longer exists.

Theory of change, applied to FinCredit.

Restricted or no access to financial services: from the problem to the output.

From impact to legacy.

FinCredit sits in the financial inclusion theme, which addresses restricted or limited access to financial products and services for South Africans and SMEs.

Impact results

Impact Report II  ·  reporting cycle March 2025 to February 2026

Income class of women reached.

Jobs and training, within this cycle.

Measured through job creation, job retention and training, March 2025 to February 2026.

Employees by income class and gender.

Facilitating Black ownership.

Maia facilitated both transactions: minority ownership in financial services and in digital infrastructure.

Expanding access to underserved clients.

Clean energy, generated and built.

Expanding access to underserved households.

More students, housed.

Something meaningful left behind.

Impact reporting cycle March 2025 to February 2026; students housed as at June 2026.

Tea break.

We resume at 10:30 with the panel discussion.

The case for private credit

Unlocking opportunity using private capital

Fund performance update

Maia Debt Impact Fund I (MDIF I)  ·  as at July 2026

IRR per investment.

Investment, gross and net IRR.

Looking ahead

Maia Capital Fund II: the seventh star

Private credit: a structural shift in global capital markets.

Private credit has grown from a niche alternative into a global asset class, driven by sustained bank retrenchment from mid-market and sub-investment-grade lending, LP demand for yield in a higher-for-longer rate environment, and a structural mismatch between available bank capital and real-economy credit demand. These global dynamics are arriving in South Africa with particular force.

Private credit vs private equity: why debt wins now.

For investors seeking strong risk-adjusted returns in South Africa’s mid-market, private credit offers a structurally superior risk-return profile to private equity, particularly with constrained exit markets, currency volatility and uncertain terminal valuations. It:

• Generates predictable current income
• Recycles capital faster
• Sits senior in the capital structure

Fund II: a multi-pronged approach.

Fund II, at a glance.

The need remains; together, we can make a difference.

Fund I proved the model. Fund II scales it.

Thank you.

Lunch and networking follow.