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ALGEBRIS UCITS FUNDS PLC ( an investment company with variable capital incorporated with limited liability in Ireland with registered number 509801 and established as an umbrella fund with segregated liability between Sub - Funds )

INTERIM REPORT AND UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE PERIOD FROM 1 JANUARY 202 6 TO 30 JUNE 202 6

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ALGEBRIS UCITS FUNDS PLC

Contents

Management and Administration 2 - 3

Investment Manager ’ s Report 4 - 1 1

Unaudited Statement of Financial Position 1 3 - 1 6

Unaudited Statement of Comprehensive Income 1 7 - 2 4

Unaudited Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares 2 5 - 2 8

Unaudited Statement of Cash Flows 2 9 - 3 2

Notes to the Unaudited Financial Statements 3 3 - 7 4

Unaudited Schedule of Investments 7 5 - 12 3

Unaudited Schedule of Significant Ch anges in Investments 12 4 - 13 5

Unaudited Other Ad ditional Disclosures 1 36 - 1 4 6

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ALGEBRIS UCITS FUNDS PLC

Management and Administration

Registered Office 33 Sir John Rogerson ’ s Quay Dublin 2 D02 XK09 Ireland

Directors* Alexander Lasagna Carl O ’ Sullivan** Desmond Quigley**

Manager Algebris Investments (Ireland) Limited 33 Sir John Rogerson ’ s Quay Dublin 2 D02 XK09 Ireland

Investment Manager, Distributor Algebris (UK) Limited and Promoter*** 11 Waterloo Place London SW1Y 4AU England

Sub Investment Managers Algebris Investments (Asia) Pte Limited 9 Straits View #05 - 08 Marina One West Tower Singapore 018937

Algebris Investments (US) Inc. 699 Boylston Street Boston MA 02116 USA

Depositary BNP Paribas S.A. , Dublin Branch Termini 3 Arkle Road Sandyford Dublin 18 D18 C9C5 Ireland

* All directors are non - executive ** Independent director *** Algebris (UK) Limited has been delegated as Distributor and Promoter for all sub - funds and Investment Manager to all sub - funds except Algebris Core Italy Fund, Algebris Global Equity Select Fund and Algebris Strategic Credit Fund . For these sub - funds, the Manager is also the Investment Manager.

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ALGEBRIS UCITS FUNDS PLC

Management and Administration (continued)

Administrator, Registrar and BNP Paribas Fund Administration Services (Ireland) Limited Transfer Agent Termini 3 Arkle Road Sandyford Dublin 18 D18 C9C5 Ireland

Independent Auditor PricewaterhouseCoopers One Spencer Dock North Wall Quay Dublin 1 D01 X9R7 Ireland

Legal Adviser Dillon Eustace 33 Sir John Rogerson ’ s Quay Dublin 2 Ireland

Company Secretary Tudor Trust Limited 33 Sir John Rogerson ’ s Quay Dublin 2 Ireland

Representative in Switzerland ACOLIN Fund Services AG Maintower, Thurgauerstrasse 36 / 38 CH - 8050 Zurich Switzerland

Paying Agent in Switzerland Ban que Cantonale Vaudoise Place St - Francois 14 CH - 1003 Lausanne Switzerland

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ALGEBRIS UCITS FUNDS PLC

Algebris Financial Credit Fund

Investment Manager ’ s Report for the period from 1 January 202 6 to 30 June 202 6

Geopolitical headlines led to a fractious start to 2026, with far - reaching implications across the global financial markets. The surprise capture of the Venezuelan president by the USA and growing concerns around the deadly protests in Iran saw Brent crude climb back above the $70 mark in January, a threshold last seen in September 2025. In Europe, equity markets whipsawed as tensions between the EU and the USA over Greenland escalated throughout the month.

In sector - specific news, 4Q2025 results were solid across the US and initial releases suggested a similar pattern in Europe. US banks reported positive outlooks for 2026, underpinned by numerous tailwinds including significant deregulation, increasing M&A, active capital markets, easing monetary policy, and a steepening yield curve. Earnings and management commentaries were generally solid leading to modest upgrades to go - forward estimates.

March saw broad - based underperformance driven by developments in the Middle East fuelling concerns over higher inflation expectations, which subsequently morphed into a reversal of projected monetary policy actions. Rates curves sold off by c50bps in the front end as some jurisdictions priced in up to 3 central bank hikes by year - end to counter what could be a prolonged period of higher energy prices.

Risk appetite bounced back in April as confidence grew around a Middle East solution that would cap any further spikes in energy prices. The first quarter results season kicked off in the second half of the month and by the end of it almost three - quarters of issuers had published what was an overall decent set of figures, leaving just the Italians and some core Europeans to go in May. As with previous quarters, fundamentals remained solid and Q1 2026 results reinforced the sector’s significantly robust stance.

The Middle East conflict continued to dominate the market moves in May as headlines of a potential agreement between the USA and Iran saw oil prices recede from the prior month’s highs, which in turn triggered a wider risk - on response. European financials wrapped up their first quarter results season with banks still demonstrating better than expected profitability, driven primarily by revenue resilience and cost discipline. Thematically, M&A was back in the spotlight with a flurry of potential deals, most centered in the UK.

A tentative Middle East agreement in June drove oil prices 20% lower, fuelling momentum across risk assets. Issuers took advantage of these ongoing favourable market conditions to front - load further funding needs. Primary activity was almost EUR60bn, nearly 50% higher than the average in June over the previous 7 years, taking year to date issuance to EUR295bn, 10% lower year - on - year. Ongoing early refinancing of AT1s continues to take place, with one issuer receiving nearly 75% acceptances via a tender for an instrument only due for call in October 2027. This factor, combined with the fact that July, August, October, and December have historically been the four least active months for issuance, should continue to provide a unique technical support to financial credit spreads.

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ALGEBRIS UCITS FUNDS PLC

Algebris Financial Income Fund

Investment Manager ’ s Report for the period from 1 January 2026 to 30 June 2026

The first half of 2026 proved to be a tale of two distinct phases for financial markets: a volatile and challenging opening stretch marked by geopolitical disruption, followed by a constructive recovery that allowed the portfolio to finish the period with positive performance.

Geopolitical developments set an unsettled tone from the outset, with tensions in the Middle East and elsewhere driving sharp swings across both credit spreads and equity valuations. In credit markets, rates curves sold off materially in the front end as certain jurisdictions began pricing in central bank hikes to counter the prospect of a prolonged period of elevated energy prices. Equity markets felt similar pressure, with European banks particularly affected given fears around the potential impact of higher energy costs on growth, inflation, and credit quality – the EURO STOXX Banks Index declined 11% in March alone. US financial equities proved more resilient, with banks finishing the month down less than 3%, reflecting the market's view that the US economy was better insulated from the conflict's spillover effects. Across both sleeves of the portfolio, Q1 proved the most challenging period of the half.

Fundamentals, however, remained a source of comfort throughout. Q4 2025 earnings were solid across US and European financials, and Q1 2026 results, which rolled in through April and May, reinforced that picture. Banks on both sides of the Atlantic continued to demonstrate better - than - expected profitability, underpinned by revenue resilience, cost discipline, and – particularly in the US – a supportive backdrop of deregulation and active capital markets. Earnings and management commentary were constructive, leading to modest upgrades to forward estimates.

Q2 2026 was defined by the gradual de - escalation of Middle East tensions, which catalysed a broad recovery across both asset classes. Risk appetite returned meaningfully in April and gathered further momentum into June. For financial equities, the sector finished June up nearly 4.5%, substantially closing the year - to - date performance gap with the broader market, with US regional banks leading the charge. In credit, primary markets were highly active, with June issuance approaching EUR60bn as issuers took advantage of favourable conditions to front - load funding. Year to - date issuance reached EUR295bn. Ongoing early refinancing of AT1 instruments is a further signal of the sector's financial strength and appetite to optimise its capital structure proactively.

M&A was a recurring theme during the period. US banks cited increasing deal activity as a key tailwind, while in Europe a flurry of potential transactions – many centred in the UK – kept consolidation firmly in the spotlight. Potential tie - ups amongst challenger banks, such as reported interest in Aldermore Group by Shawbrook, point to a continued rationalisation of the sector that we view constructively from both a credit and equity perspective.

In credit, the technical backdrop for financial credit remains supportive: the historically light issuance calendar in the second half of the year, combined with the ongoing wave of early AT1 refinancing, should provide continued downward pressure on spreads.

As we enter the second half of 2026, we remain alert to ongoing political and macroeconomic risks, but are highly constructive on the fundamentals of the names held across the portfolio, where we continue to see attractive risk adjusted returns.

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ALGEBRIS UCITS FUNDS PLC

Algebris Financial Equity Fund

Investment Manager ’ s Report for the period from 1 January 2026 to 30 June 2026

2026 quickly brought with it a mix of constructive developments within the financial sector that we have been well positioned for, such as increased M&A activity, alongside heightened volatility given uncertainty around the potential impacts of AI on the economy as well as the war in Iran. Market angst in February was especially acute in the US as the S&P 500 Financials Index was down 8%, the decline led by perceived AI losers including companies with private credit exposure, financial data providers, and credit card lenders.

The conflict in Iran drove a difficult market backdrop during March with the Financial Equity Fund finishing down 4.8% on the month (B EUR). This return modestly outperformed the 5.4% drop in the MSCI AC World Financials benchmark as the fund’s cash position offered some buffer against the broad - based sell - off in equities. European banks were the main detractor as fears around potential negative impacts from elevated energy prices on growth, inflation, and credit quality enveloped the group with the EURO STOXX Banks Index (SX7E) declining 11%. US names fared better with banks ultimately down less than 3% due to the market expectation that the US economy will remain better insulated against any detrimental impacts from the war given less reliance on Middle Eastern oil and gas.

Numerous headlines of a potential resolution to the Iran conflict saw risk stage a sharp bounce back in April. The Financial Equity fund returned 6.6% (B EUR) in the month and modestly outperformed the 6.2% from the MSCI AC World Financial benchmark. While the outperformance was modest, we were pleased it came after the fund also generated positive alpha in the much more difficult month of March; our aim as always is to provide positive absolute and relative performance regardless of the market backdrop.

The macro backdrop shifted materially in May, as inflation expectations moved higher in response to the Iran conflict, prompting a more evident pivot toward tightening across central banks. Asian policymakers led the initial response, with Australia, Indonesia and the Philippines hiking interest rates to anchor inflation expectations. In contrast, the Fed, ECB and BOJ remained on hold but adopted a more hawkish tone, paving the way for potential rate hikes in the coming months. We were selective in increasing exposure to European and US banks, focusing on franchises with strong deposit bases that are well - positioned to benefit from margin expansion as rates rise and yield curves steepen (e.g. the 3M/5Y US curve hit 4 - year highs during the month). These banks continue to offer attractive capital return profiles, alongside potential upside from further industry consolidation.

After a relatively soft start to the year, the financial sector outperformed strongly in June, finishing up nearly 4.5%. This closed the large year - to - date gap with the broader index by nearly 40% in the month, as momentum/tech names faltered. Banks in particular did well (led by US regionals, up over 8%) as inflation and growth concerns subsided further following the US/Iran Memorandum of Understanding. With that sharp rebound, we slowly pared back some of the positions we had accumulated during the March volatility.

In sum, as we look ahead to the second half of 2026, we remain vigilant on the ever - present political, economic, and market risks but continue to be highly constructive on our names, where we see excellent risk - adjusted returns across our portfolio.

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ALGEBRIS UCITS FUNDS PLC

Algebris Global Credit Opportunities Fund

Investment Manager ’ s Report for the period from 1 January 2026 to 30 June 2026

January started positively, with credit markets resilient and geopolitical tensions — including US tariffs and early Middle East conflict — having only a muted impact on risk sentiment. Through January and February dispersion widened further across the credit universe offering opportunities to lock in more attractive spread levels and generate alpha through rigorous credit selection. The fund maintained a cautious but net long stance, implementing a barbell strategy targeting alpha - generating high - yield ideas in the cash portfolio while using tight spreads as the funding leg on the hedging book. The Fund maintained selective exposure to European and U.S. utilities, property names, short dated subordinated financials and Emerging Market local markets. Additionally, the Fund favoured a targeted group of convertible bonds offering highly asymmetric risk - reward characteristics.

Market volatility picked up sharply in March as the conflict in the Middle East escalated, pushing energy prices higher and prompting a repricing of central bank reaction functions. EUR high yield spreads widened approx. 45bps and USD high yield approx. 30bps, though both remained well below Liberation Day wides. The fund's cautious positioning and extensive hedge book helped cushion the drawdown from the conflict. Net credit exposure was at a low of 45% in the beginning of March but taking advantage of the increased dispersion in credit and the recent selloff, the Fund selectively added to high - conviction, high - quality credits as conditions stabilised and ended the month at 57%.

Markets recovered through April and May as both the US and Iran signalled appetite for a deal, pushing risk assets back to highs, and a US - China meeting reduced near - term tail risks. Despite the constructive tone, the Fund maintained a cautious view on credit beta, as Hormuz traffic remained at approximately 10% of pre - war levels and oil hovered above $100 per barrel. While credit markets continued to show resilience given the strong demand for “yield buying”, we held the view that markets were underestimating the potential for demand destruction stemming from commodity prices, as the market was largely looking at any spikes in inflation and growth hiccups as temporary.

In June, a temporary peace deal redirected investor focus toward AI - bubble concerns, sparking pockets of volatility in US and Asian equities, though broader credit sentiment remained benign. In credit, a near record month of supply was relatively well digested, prompting some proactive cash raising and selective risk rotation in secondary markets leading to modest cash credit spread widening across the board. On the macro side, the Fed held rates at 3.50% 3.75%, curves flattened and 10 - year inflation breakevens repriced sharply lower. The ECB raised its reference rate by 25bps to 2.25%, in line with expectations. In emerging markets, the fund benefited from pre - positioned exposure to Colombian assets following a market - friendly election outcome. As of H1 end, the fund held net credit exposure of 64%, CDS protection of 26%, with 30% net exposure in financials, 34% in corporates and 14% in emerging markets.

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ALGEBRIS UCITS FUNDS PLC

Algebris Core Italy Fund

Investment Manager ’ s Report for the period from 1 January 2026 to 30 June 2026

Global equities started 2026 on a positive note, as risk appetite improved despite heightened geopolitical tensions. Better - than - expected activity data and moderating inflation reinforced a “Goldilocks” backdrop, supporting rising growth expectations.

European equities outperformed in January and February, supported by a continued rotation away from US markets. Energy, communication services, and real estate led performance, while healthcare, technology, and financials lagged. The ECB kept rates unchanged as inflation continued to ease, while the eurozone manufacturing PMI rose to a six month high, reviving hopes of a cyclical recovery.

Against this backdrop, Italian equities accelerated. All sectors except financials posted gains in February, led by energy, supported by higher oil prices amid rising tensions in the Middle East, as well as telecom and basic materials.

We increased exposure to energy (focused on offshore services names with idiosyncratic upside), telecoms (sound balance sheets, strong free cash flow, and consolidation tailwinds), and healthcare (expecting an acceleration of the growth and valuation to rebound from multi - year lows). We reduced exposure to financials and industrials, taking profits on select names after strong 2025 performance with limited remaining upside. We also started a position in Ferrari, whose stock experienced a drawdown following below - consensus targets presented at its capital markets day.

In March, global equities sold off after the US and Israel launched a military operation in Iran, and investors began to price in the prospect of a prolonged conflict. European equities were among the hardest hit, reflecting the region’s greater dependence on oil and gas flows through Hormuz. Against this backdrop, Italian equities also corrected sharply, giving back their year - to - date gains.

We initiated a position in Eni, a short - cycle beneficiary of higher oil and gas prices and a tighter energy market. We also added to names with limited macro correlation (e.g. Lottomatica) and strong underlying growth trends (e.g. Prysmian).

Global equities started Q2 with a powerful risk - on rally, with emerging markets as the standout performer, led by extraordinary gains in Taiwan and South Korea, reflecting their central role in the global AI semiconductor supply chain. Optimism grew around a potential US - Iran agreement and the prospect of a Strait of Hormuz reopening.

European equities rose but more modestly, several macro indicators pointing to a contraction in eurozone business activity and underscoring the real economic drag of sustained energy supply disruption. Italian equities outperformed broader European indices, driven by technology stocks (STMicroelectronics, Technoprobe) and selected names across industrials and healthcare.

We increased exposure to the semiconductor space by adding to STMicroelectronics. We also added to healthcare, such as Amplifon, where we are positive on the M&A strategy. We trimmed energy following strong gains and reduced some industrials exposure amid weaker first - quarter results.

In June, following the signing of a US - Iran agreement reopening the Strait of Hormuz, Brent and WTI both fell roughly 20%, extending May’s declines. US equities edged lower, as hyperscalers came under pressure from renewed investor scrutiny over the return on investment of their AI - related capital spending, which more than offset continued strength in semiconductor stocks. European equities outperformed the US, as easing inflation concerns and a moderation in private sector contraction drove a rotation into more economically sensitive sectors, such as Travel & Leisure.

Italian equities continued to outperform broader European indices, driven primarily by a strong performance of financials as fears regarding Hormuz faded and the consolidation narrative strengthened.

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ALGEBRIS UCITS FUNDS PLC

Algebris Core Italy Fund

Investment Manager ’ s Report for the period from 1 January 2026 to 30 June 2026

Against this backdrop, the Algebris Core Italy Fund (class EB EUR) gained 20.45% in the first half of 2026.

Looking ahead, investor focus shifts to further developments on the geopolitical front, central bank policy signals, and any cooling of AI enthusiasm. We continue to invest through a bottom - up approach, leveraging strong research and direct engagement with management to build a portfolio of 35 - 40 high - conviction names. We focus on companies with sustainable earnings growth, high returns on capital supported by strong cash generation, and quality management, at valuations that we consider attractive.

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ALGEBRIS UCITS FUNDS PLC

Algebris IG Financial Credit Fund

Investment Manager ’ s Report for the period from 1 January 2026 to 30 June 2026

In sector - specific news, 4Q25 results were solid across the US and initial releases suggested a similar pattern in Europe. US banks reported positive outlooks for 2026, underpinned by numerous tailwinds including significant deregulation, increasing M&A, active capital markets, easing monetary policy, and a steepening yield curve. Earnings and management commentaries were generally solid leading to modest upgrades to go - forward estimates.

March saw broad - based underperformance driven by developments in the Middle East fuelling concerns over higher inflation expectations, which subsequently morphed into a reversal of projected monetary policy actions. Primary activity was subdued in March due how much European financials had already front - loaded in 2025, and the lower refinancing needs expected throughout this year. Issuance by European financials in the month came to EUR35bn, some EUR20bn lower than last March and putting this year’s total at EUR 150bn, 25% lower than in Q1 2025.

Risk appetite bounced back in April as confidence grew around a Middle East solution that would cap any further spikes in energy prices. The first quarter results season kicked off in the second half of the month and by the of it almost three - quarters of issuers had published what was an overall decent set of figures, leaving just the Italians and some core Europeans to go in May. As with previous quarters, fundamentals remained solid and Q1 2026 results reinforced the sector’s significantly robust stance.

A tentative Middle East agreement in mid - June drove oil prices 20% lower, fuelling momentum across risk assets. Issuers took advantage of the ongoing favourable market conditions to front - load further funding needs in June. Primary activity was almost EUR60bn, nearly 50% higher than the average in June over the previous 7 years, taking year to date issuance to EUR295bn, 10% lower year - on - year.

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ALGEBRIS UCITS FUNDS PLC

Algebris Global Equity Select Fund (Formerly known as Algebris Sustainable World Fund)

Investment Manager ’ s Report for the period from 1 January 2026 to 30 June 2026

Global equities experienced a volatile but ultimately positive first half of 2026, shaped by shifting market leadership, geopolitical developments, evolving monetary policy expectations and continued investor enthusiasm around artificial intelligence.

The year began on a positive note as better - than - expected activity data and moderating inflation reinforced a "Goldilocks" backdrop, supporting rising growth expectations and improving risk appetite. Flows broadened away from US large caps, with emerging markets outperforming, while European equities benefited from upside macro surprises and improving cyclical momentum. In February, this trend continued as investors rotated away from highly valued large - cap growth stocks, supporting European markets amid easing inflation and signs of recovery in manufacturing activity.

Sentiment deteriorated sharply in March as the escalation of the conflict involving Iran drove oil prices higher, reignited inflation concerns and prompted investors to scale back expectations for near - term rate cuts. Global equities corrected materially, with both the Federal Reserve and ECB highlighting increased inflation risks and weaker growth prospects. The fund closed out Q1 with a return of 4.1%.

Markets rebounded strongly in April as investors rotated decisively back into artificial intelligence - related equities, supported by a robust earnings season and stronger - than - expected corporate guidance. Emerging markets were among the strongest performers, reflecting their central role in the global AI semiconductor supply chain. The rally extended into May as optimism surrounding a potential US - Iran agreement and the prospect of a reopening of the Strait of Hormuz drove oil prices lower, adding a further tailwind to AI - related market leadership.

In June, performance became more mixed. Following the signing of a US - Iran agreement and the reopening of the Strait of Hormuz, oil prices declined further, while investors began to scrutinise the returns associated with AI - related capital expenditure. This led to a pullback in some large - cap technology companies and a rotation toward more cyclical areas of the market. At the same time, European equities outperformed on easing inflation concerns and signs of improving economic momentum.

Against this backdrop, the Algebris Global Equity Select Fund delivered strong absolute performance during the first half of the year. While the portfolio experienced volatility during March, it benefited from several of the key themes that shaped markets over the period, including changing regional leadership, improving economic conditions and continued innovation - driven investment opportunities. The Algebris Global Equity Select Fund (B EUR share class) finished the first half of the year up 30.3%, significantly outperforming broader global equity markets.

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ALGEBRIS UCITS FUNDS PLC

Algebris Strategic Credit Fund

Investment Manager ’ s Report for the period from 1 January 2026 to 30 June 2026

Credit markets remained resilient through January, with geopolitical tensions — including US demands over Greenland and the risk of a US military strike on Iran — having only a muted impact on overall risk sentiment. Spreads ended January marginally tighter and February only marginally wider. The Strategic Credit Fund stayed true to its conservative stance throughout, running a larger - than - usual liquidity buffer in short - dated bills and investment grade bonds with short term maturities, while keeping a lighter allocation to corporate hybrids given rich risk premia. The Fund also favoured European utilities tied to Europe’s electrification and grid investment wave.

Markets turned volatile in March as the Iran war sent oil sharply higher. At the time, Brent rose around 60% month to - date to USD 115/barrel, although the forward curve pointed to prices easing back to the low USD 80s by year - end. Rising energy prices pushed inflation expectations up and led investors to price faster central bank responses than in 2022, with 10 - year Bund and Treasury yields rising approx. 35bps and Gilts 55bps. Credit proved more resilient — EUR investment grade spreads widened only approx. 10bps, corporate hybrids 12bps and EUR high yield 25bps. Against this backdrop, the fund maintained its conservative positioning, continuing to run a larger - than - usual liquidity buffer and maintaining a higher overall fund quality of BBB+ (vs prior lows of BBB - ).

Throughout the period the fund found value in European utilities tied to electrification and grid investment, which benefit from regulated returns, stable operating frameworks and conservative balance sheets supported by rights issues and targeted asset sales. Continued value was also seen in telecom operators, benefiting from fibre rollouts and moving beyond peak capex, where the EU policy backdrop has become increasingly supportive of scale, investment and industry sustainability — illustrated in France by the joint bid for SFR by three rivals Orange, Bouygues and Free. Both themes were accessed primarily through hybrids, which continue to offer a meaningful spread pick - up of approximately 100bps over seniors, while we stay disciplined on structure and call risk.

Risk sentiment recovered through April and May as a temporary ceasefire between US and Iran was announced, and a US - China meeting reduced near - term tail risks. The Fund selectively deployed capital into high - quality hybrid and high yield primary opportunities following the ceasefire - driven improvement in sentiment. As of H1 end, the fund was 82% invested (excluding 13% T - bills), with a blended YTC of 4.4%, duration of 4.3 years, average rating of BBB, and allocations of 23% utilities, 17% telecoms, 23% financials and 23% other corporates.

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ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Financial Position

as at 30 June 202 6

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Financial Financial Financial Global Credit Total Credit Fund Income Fund Equity Fund Opportunities Fund 30 June 202 6 30 June 2026 30 June 2026 30 June 2026 30 June 2026 Notes EUR EUR EUR EUR EUR

Assets Cash and cash equivalents 3,674, 977,233 2,250,2 62,695 692,721,669 322,483,895 259,518,405 Cash collateral pledged 167,776,386 7,040,000 39,260,000 19,305,000 96,471,386 Financial assets at fair value through profit or loss 3

- Mutual funds * - - - - - Transferable securities 21,629,708,854 14,439,597,650 2,162,805,670 1,102,043,142 2,492,597,334

- Financial derivative instruments 76,689,959 41,186,048 6,821,585 3,225,712 24,525,745 Due from broker 2( c ) 27,885,656 - 4,337,768 5,660,864 12,674,602 Due from members 2( e ) 73,627,366 31,287,293 19,876,487 13,319,758 4,796,527 Dividends receivable 2,425,541 256,171 954,527 943,353 259,760 Subscriptions receivable - - - - Interest receivable from financial assets at fair value through profit or loss 238,682,409 165,815,643 16,283,730 - 38,520,315 Accrued income and other receivables 3,515,328 3,113 17 25,902 3,453,979 Total assets 25,895,2 88,732 16,935,4 48,613 2,943,061,453 1,467,007,626 2,932,818,053

Liabilities Financial liabilities at fair value through profit or loss 3

- Transferable securities 1,308,707 - - - - Financial derivative instruments 162,056,524 49,193,047 18,143,512 10,051,829 79,776,830 Due to broker 2( c ) 44,581,965 - 15,591,067 16,821,190 4,003,394 Due to members 2( e ) 85,664,687 30,690,669 3,871,879 2,855,745 43,078,275 Performance fees payable 4 32,945,654 26,934,236 - - 6,011,418 Investment management fees payable 4 22,389,871 13,181,622 3,479,029 1,347,781 3,213,051 Audit fee payable 4 68,401 47,539 5,060 2,993 8,752 Administration fee payable 4 928,386 568,602 106,963 56,269 108,024 Depositary fee payable 4 421,848 277,365 46,771 22,575 47,325 Directors ’ fee payable 4 32,817 3,847 3,863 3,847 3,847 Subscriptions in advance 376 - - - Related parties payable 8 31,211 31,211 - - Accrued expenses and other payables 2,383,345 926,731 541,373 361,640 258,039 Liabilities (excluding net assets attributable to holders of redeemable participating shares) 352, 813,792 121,8 54,869 41,789,517 31,523,869 136,508,955

Net assets attributable to holders of redeemable participating shares 25,542,474,940 16,813,593,744 2,901,271,936 1,435,483,757 2,796,309,098

* Cross holdings of EUR 82,372,500 in financial assets at fair value through profit or loss have been eliminated from the Company total.

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ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Financial Position (continued)

as at 30 June 2026

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Core Italy IG Financial Global Equity Strategic Fund Credit Fund Select Fund Credit Fund 30 June 2026 30 June 2026 30 June 2026 30 June 2026 Notes EUR EUR EUR EUR

Assets Cash and cash equivalents 11,285,296 127,967,818 4,510,160 6,227,295 Cash collateral pledged 20,000 4,890,000 580,000 210,000 Financial assets at fair value through profit or loss 3

- Mutual funds * - 82,372,500 - - Transferable securities 168,747,406 1,102,906,181 54,305,243 106,706,228

- Financial derivative instruments 222,834 642,140 37,410 28,485 Due from broker 2( c ) 1,782,692 3,429,730 - Due from members 2( e ) 1,049,408 2,992,748 160,039 145,106 Dividends receivable - - 11,730 Subscriptions receivable - - - Interest receivable from financial assets at fair value through profit or loss - 16,657,159 - 1,405,562 Accrued income and other receivables 58 723 12,673 18,863 Total assets 183,107,694 1,341,858,999 59,617,255 114,741,539

Liabilities Financial liabilities at fair value through profit or loss 3

- Transferable securities - - 1,308,707 - Financial derivative instruments 24,546 4,271,892 420,589 174,279 Due to broker 2( c ) 3,196,538 2,218,500 1,001,276 1,750,000 Due to members 2( e ) 920,407 4,178,549 - 69,163 Performance fees payable 4 - - - Investment management fees payable 4 118,352 929,640 28,068 92,328 Audit fee payable 4 403 3,447 88 119 Administration fee payable 4 13,831 58,248 6,464 9,985 Depositary fee payable 4 2,854 22,190 871 1,897 Directors ’ fee payable 4 3,863 3,863 3,841 5,846 Subscriptions in advance 376 - - Related parties payable 8 - - - Accrued expenses and other payables 60,473 127,694 53,016 54,379 Liabilities (excluding net assets attributable to holders of redeemable participating shares) 4,341,643 11,814,023 2,822,920 2,157,996

Net assets attributable to holders of redeemable participating shares 178,766,051 1,330,044,976 56,794,335 112,583,543

* Cross holdings of EUR 82,372,500 in financial assets at fair value through profit or loss have been eliminated from the Company total.

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ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Financial Position

as at 31 December 2025

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Financial Financial Financial Global Credit Total Credit Fund Income Fund Equity Fund Opportunities Fund 31 December 202 5 31 December 2025 31 December 2025 31 December 2025 31 December 2025 Notes EUR EUR EUR EUR EUR

Assets Cash and cash equivalents 4,235,004,915 2,697,415,502 662,988,516 307,418,751 407,615,136 Cash collateral pledged 125,504,302 6,070,000 18,680,000 5,015,000 95,739,302 Financial assets at fair value through profit or loss 3

- Mutual funds * - - - - - Transferable securities 20,200,700,319 13,725,716,469 1,822,273,377 911,055,514 2,401,690,141

- Financial derivative instruments 41,920,491 16,191,656 5,446,859 3,622,371 14,406,926 Due from broker 2( c ) 14,403,904 - 3,790,756 3,681,753 6,931,395 Due from members 2( e ) 81,274,864 37,845,322 22,943,834 7,977,525 5,954,892 Dividends receivable 2,536,491 270,990 762,348 590,874 472,007 Subscriptions receivable - - - - Interest receivable from financial assets at fair value through profit or loss 270,108,244 198,066,320 13,317,656 - 39,903,854 Accrued income and other receivables 55,978 7,119 1,991 883 448 Total assets 24,971,509,508 16,681,583,378 2,550,205,337 1,239,362,671 2,972,714,101

Liabilities Financial liabilities at fair value through profit or loss 3

- Financial derivative instruments 88,225,387 17,727,552 2,075,434 1,509,833 65,808,287 Due to broker 2( c ) 46,044,160 - 23,388,955 20,136,628 1,533,527 Due to members 2( e ) 34,838,846 21,519,664 1,825,488 1,465,983 8,378,706 Performance fees payable 4 105,954,833 93,222,062 - - 12,732,771 Investment management fees payable 4 22,179,518 13,417,385 3,013,772 1,239,258 3,369,155 Audit fee payable 4 146,000 98,081 14,112 6,995 17,382 Administration fee payable 4 887,936 557,904 91,077 51,597 108,589 Depositary fee payable 4 405,976 272,643 39,455 19,492 48,235 Directors ’ fee payable 4 33,161 3,890 3,906 3,890 3,890 Subscriptions in advance 376 - - - Related parties payable 8 102,840 102,840 - - Accrued expenses and other payables 2,335,205 963,216 466,143 287,731 321,025 Liabilities (excluding net assets attributable to holders of redeemable participating shares) 301,154,238 147,885,237 30,918,342 24,721,407 92,321,567

Net assets attributable to holders of redeemable participating shares 24,670,355,270 16,533,698,141 2,519,286,995 1,214,641,264 2,880,392,534

* Cross holdings of EUR 80,608,500 in financial assets at fair value through profit or loss have been eliminated from the Company total.

Page 17

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Financial Position (continued)

as at 31 December 2025

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Core Italy IG Financial Global Equity Strategic Fund Credit Fund Select Fund Credit Fund 31 December 2025 31 December 2025 31 December 2025 31 December 2025 Notes EUR EUR EUR EUR

Assets Cash and cash equivalents 2,960,721 141,440,949 2,549,932 12,615,408 Cash collateral pledged - - - Financial assets at fair value through profit or loss 3

- Mutual funds * - 80,608,500 - - Transferable securities 150,796,467 1,064,668,115 34,413,314 90,086,922

- Financial derivative instruments 1,050,432 1,079,224 75,334 47,689 Due from broker 2( c ) - - - Due from members 2( e ) 421,097 5,464,573 6,956 660,665 Dividends receivable 343,546 - 96,726 Subscriptions receivable - - - Interest receivable from financial assets at fair value through profit or loss - 17,584,032 - 1,236,382 Accrued income and other receivables 604 1,481 18,468 24,984 Total assets 155,572,867 1,310,846,874 37,160,730 104,672,050

Liabilities Financial liabilities at fair value through profit or loss 3

- Financial derivative instruments 23,081 1,045,701 4,471 31,028 Due to broker 2( c ) - - - 985,050 Due to members 2( e ) 391,595 1,177,683 27,095 52,632 Performance fees payable 4 - - - Investment management fees payable 4 99,644 941,437 15,974 82,893 Audit fee payable 4 901 7,759 229 541 Administration fee payable 4 11,320 55,565 4,356 7,528 Depositary fee payable 4 2,495 21,476 627 1,553 Directors ’ fee payable 4 3,906 3,906 3,884 5,889 Subscriptions in advance 376 - - Related parties payable 8 - - - Accrued expenses and other payables 61,503 119,546 55,047 60,994 Liabilities (excluding net assets attributable to holders of redeemable participating shares) 594,821 3,373,073 111,683 1,228,108

Net assets attributable to holders of redeemable participating shares 154,978,046 1,307,473,801 37,049,047 103,443,942

* Cross holdings of EUR 80,608,500 in financial assets at fair value through profit or loss have been eliminated from the Company total.

Page 18

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Comprehensive Income

for the period from 1 January 202 6 to 30 June 202 6

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Financial Financial Financial Global Credit Total Credit Fund Income Fund Equity Fund Opportunities Fund 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 Notes EUR EUR EUR EUR EUR

Investment income Interest from financial assets at fair value through profit or loss 715,099,848 475,152,793 46,262,377 2,940,267 157,328,034 Dividend income 52,467,226 501,383 21,423,624 22,912,335 1,647,335 Other income 2,010,574 1,735,269 100,916 3,061 92,737 Net gain s /(losses) on financial assets and liabilities at fair value through profit or loss* 197,406,820 49,395,765 57,854,222 70,954,416 (6,053,949) Net (loss)/ gain on foreign exchange (3,709,988) (496,823) (527,660) 36,972 (2,583,788) Total investment income 963,274,480 526,288,387 125,113,479 96,847,051 150,430,369

Operating expenses Performance fees 4 34,037,148 27,682,090 - - 6,355,058 Preliminary expense 9,795 - - - Investment management fees 4 125,101,811 74,265,436 18,693,033 7,290,578 18,288,453 Administration fees 4 2,677,715 1,680,483 299,813 160,052 313,622 Directors ’ fees 4 42,152 5,269 5,269 5,269 5,269 Dividend expense 2,307,223 - 484 494 2,306,245 Depositary fees 4 1,983,943 1,234,669 201,251 127,822 283,675 Audit fees 4 72,400 48,638 6,998 3,468 8,619 Transaction cost 4 1,056 152 - - 904 Other expenses 6,310,543 3,631,092 682,890 391,181 1,113,908 Total operating expenses 172,543,786 108,547,829 19,889,738 7,978,864 28,675,753 Net investment income 790,730,694 417,740,558 105,223,741 88,868,187 121,754,616

Page 19

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Comprehensive Income (continued)

for the period from 1 January 202 6 to 30 June 202 6

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Financial Financial Financial Global Credit Total Credit Fund Income Fund Equity Fund Opportunities Fund 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 Notes EUR EUR EUR EUR EUR

Finance costs Distributions to holders of redeemable participating shares 5 169,684,481 136,574,434 10,129,130 10,509 14,506,968

- Financial liabilities measured at FVTPL 95,928,146 6,423,585 2,225,690 661,032 84,411,029 Total finance costs 265,612,627 142,998,019 12,354,820 671,541 98,917,997

Profit before tax 525,118,067 274,742,539 92,868,921 88,196,646 22,836,619

Withholding tax on dividends 6,456,717 150,415 2,597,495 3,164,928 491,415 Withholding tax on interest - - - - Increase in net assets attributable to holders of redeemable participating shares from operations 518,661,350 274,592,124 90,271,426 85,031,718 22,345,204

* Net gain on financial assets and liabilities at fair value through profit & loss of EUR 1,764,000 due to cross holdings have been eliminated from the Company total.

Page 20

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Comprehensive Income (continued)

for the period from 1 January 202 6 to 30 June 202 6

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Core Italy IG Financial Global Equity Strategic Fund Credit Fund Select Fund Credit Fund 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 Notes EUR EUR EUR EUR

Investment income Interest from financial assets at fair value through profit or loss 58,154 30,862,534 30,483 2,465,206 Dividend income 5,534,929 - 447,620 Other income 3,701 71,114 1,985 1,791 Net gain s/(losses) on financial assets and liabilities at fair value through profit or loss* 26,567,329 (10,908,590) 11,934,449 (572,822) Net gain /(loss) on foreign exchange 3,822 (77,606) (472) (64,433) Total investment income 32,167,935 19,947,452 12,414,065 1,829,742

Operating expenses Performance fees 4 - - - Preliminary expense - - 4,844 4,951 Investment management fees 4 616,913 5,312,572 119,988 514,838 Administration fees 4 29,825 164,326 9,078 20,516 Directors ’ fees 4 5,269 5,269 5,269 5,269 Dividend expense - - - Depositary fees 4 18,261 100,121 7,094 11,050 Audit fees 4 447 3,848 114 268 Transaction cost 4 - - - Other expenses 71,903 330,239 40,027 49,303 Total operating expenses 742,618 5,916,375 186,414 606,195 Net investment income 31,425,317 14,031,077 12,227,651 1,223,547

Page 21

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Comprehensive Income (continued)

for the period from 1 January 2026 to 30 June 2026

The accompanying notes form an integral part of these financial statements

Finance costs Distributions to holders of redeemable participating shares 5 26,724 8,095,116 - 341,600

- Financial liabilities measured at FVTPL 459 1,843,683 217 362,451 Total finance costs 27,183 9,938,799 217 704,051

P rofit before tax 31,398,134 4,092,278 12,227,434 519,496

Withholding tax on dividends 4,724 - 47,740 Withholding tax on interest - - - I ncrease in net assets attributable to holders of redeemable participating shares from operations 31,393,410 4,092,278 12,179,694 519,496

* Net gain on financial assets and liabilities at fair value through profit & loss of EUR 1,764,000 due to cross holdings have been eliminated from the Company total.

Page 22

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Comprehensive Income

for the period from 1 January 2025 to 30 June 2025

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Financial Financial Financial Global Credit Total Credit Fund Income Fund Equity Fund Opportunities Fund 30 June 2025 30 June 2025 30 June 2025 30 June 2025 30 June 2025 Notes EUR EUR EUR EUR EUR

Investment income Interest income calculated using the effective interest method

- Financial assets measured at FVTPL 589,872,644 420,563,662 21,318,731 - 121,522,584

- Financial assets measured at amortised costs 35,074,660 22,235,889 4,020,543 2,056,909 5,142,210 Dividend income 34,332,717 582,893 14,185,993 14,576,369 1,588,070 Other income 5,420,902 4,422,027 350,059 2,181 560,403 Net (loss)/gain on financial assets and liabilities at fair value through profit or loss* (130,151,013) (254,668,245) 71,307,690 74,136,554 (40,585,876) Net (loss)/gain on foreign exchange (1,058,986) (824,836) (200,863) 120,589 (107,012) Total investment income 533,490,924 192,311,390 110,982,153 90,892,602 88,120,379

Operating expenses Performance fees 4 48,319,527 43,755,029 - - 4,564,498 Preliminary expense 9,795 - - - Investment management fees 4 97,817,998 64,033,928 8,461,271 3,348,307 16,872,780 Administration fees 4 2,216,302 1,482,942 161,414 91,934 294,328 Directors ’ fees 4 42,152 5,269 5,269 5,269 5,269 Dividend expense 2,359,802 - 361,703 - 1,998,099 Depositary fees 4 1,610,466 1,077,968 104,103 60,647 251,716 Audit fees 4 100,804 66,961 4,657 2,033 21,216 Transaction cost 4 63,640 - 34,688 24,541 1,616 Other expenses 4,687,961 3,127,432 345,900 187,630 575,068 Total operating expenses 157,228,447 113,549,529 9,479,005 3,720,361 24,584,590 Net investment income 376,262,477 78,761,861 101,503,148 87,172,241 63,535,789

Page 23

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Comprehensive Income (continued)

for the period from 1 January 2025 to 30 June 2025

The accompanying notes form an integral part of these financial statements

Finance costs Distributions to holders of redeemable participating shares 5 162,834,904 134,319,334 5,393,505 115,089 15,363,590

- Financial liabilities measured at FVTPL 68,822,692 7,332,736 2,984,529 25,379 56,810,991

- Financial liabilities measured at amortised cost 2,288,032 - 1,171,163 1,116,869 Total finance costs 233,945,628 141,652,070 9,549,197 1,257,337 72,174,581

(Loss)/profi t before tax 142,316,849 (62,890,209) 91,953,951 85,914,904 (8,638,792)

Withholding tax on dividends 4,458,686 174,868 1,887,200 1,873,552 471,222 Withholding tax on interest - - - - (Decrease)/increase in net assets attributable to holders of redeemable participating shares from operations 137,858,163 (63,065,077) 90,066,751 84,041,352 (9,110,014)

* Net gain on financial assets and liabilities at fair value through profit & loss of EUR 2,907,450 due to cross holdings have been eliminated from the Company total.

Page 24

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Comprehensive Income (continued)

for the period from 1 January 202 5 to 30 June 202 5

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Core Italy IG Financial Global Equity Strategic Fund Credit Fund Select Fund Credit Fund 30 June 202 5 30 June 202 5 30 June 202 5 30 June 202 5 Notes EUR EUR EUR EUR

Investment income Interest income calculated using the effective interest method

- Financial assets measured at FVTPL - 24,675,269 - 1,792,398

- Financial assets measured at amortised costs 59,096 1,444,127 30,141 85,745 Dividend income 3,108,718 - 290,674 Other income 104 84,950 26 1,152 Net (loss)/gain on financial assets and liabilities at fair value through profit or loss* 15,579,658 5,960,041 879,254 147,361 Net (loss)/gain on foreign exchange 1,793 (75,452) 4,527 22,268 Total investment income 18,749,369 32,088,935 1,204,622 2,048,924

Operating expenses Performance fees 4 - - - Preliminary expense - - 4,844 4,951 Investment management fees 4 370,337 4,454,539 82,561 194,275 Administration fees 4 22,155 145,419 7,424 10,686 Directors ’ fees 4 5,269 5,269 5,269 5,269 Dividend expense - - - Depositary fees 4 22,267 82,116 5,730 5,919 Audit fees 4 547 5,057 179 154 Transaction cost 4 1,317 1,478 - Other expenses 66,167 281,903 51,597 52,264 Total operating expenses 488,059 4,975,781 157,604 273,518 Net investment income 18,261,310 27,113,154 1,047,018 1,775,406

Page 25

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Comprehensive Income (continued)

for the period from 1 January 2025 to 30 June 2025

The accompanying notes form an integral part of these financial statements

Finance costs Distributions to holders of redeemable participating shares 5 5,507 7,509,168 - 128,711

- Financial liabilities measured at FVTPL 645 960,958 1,183 706,271

- Financial liabilities measured at amortised cost - - - Total finance costs 6,152 8,470,126 1,183 834,982

(Loss)/profit before tax 18,255,158 18,643,028 1,045,835 940,424

Withholding tax on dividends 2,430 - 49,414 Withholding tax on interest - - - (Decrease)/increase in net assets attributable to holders of redeemable participating shares from operations 18,252,728 18,643,028 996,421 940,424

* Net gain on financial assets and liabilities at fair value through profit & loss of EUR 2,907,450 due to cross holdings have been eliminated from the Company total.

Page 26

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the period from 1 January 202 6 to 30 June 202 6

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Financial Financial Financial Global Credit Total Credit Fund Income Fund Equity Fund Opportunities Fund 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 EUR EUR EUR EUR EUR

Net assets attributable to holders of redeemable participating shares at beginning of financial period * 24,670,355,270 16,533,698,141 2,519,286,995 1,214,641,264 2,880,392,534

Increase in net assets attributable to holders of redeemable participating shares from operations** 518,661,350 274,592,124 90,271,426 85,031,718 22,345,204

Proceeds from redeemable participating shares issued 3,825,184,443 2,069,647,659 674,355,943 472,557,391 321,384,894

Payment on redemption of redeemable participating shares issued (3,471,726,123) (2,064,344,180) (382,642,428) (336,746,616) (427,813,534)

Net assets attributable to holders of redeemable participating shares at end of financial period * 25,542,474,940 16,813,593,744 2,901,271,936 1,435,483,757 2,796,309,098

* Cross holdings of EUR 82,372,500 in net assets attributable to holders of redeemable participating shares at beginning of financial period have been eliminated from the Company total. ** Investment gain of EUR 1,764,000 due to cross holdings have been eliminated from the Company total.

Page 27

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares (continued)

for the period from 1 January 202 6 to 30 June 202 6

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Core Italy IG Financial Global Equity Strategic Fund Credit Fund Select Fund Credit Fund 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 EUR EUR EUR EUR

Net assets attributable to holders of redeemable participating shares at beginning of financial period * 154,978,046 1,307,473,801 37,049,047 103,443,942

Increase in net assets attributable to holders of redeemable participating shares from operations** 31,393,410 4,092,278 12,179,694 519,496

Proceeds from redeemable participating shares issued 36,968,681 220,065,485 9,759,720 20,444,670

Payment on redemption of redeemable participating shares issued (44,574,086) (201,586,588) (2,194,126) (11,824,565)

Net assets attributable to holders of redeemable participating shares at end of financial period * 178,766,051 1,330,044,976 56,794,335 112,583,543

Page 28

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the period from 1 January 202 5 to 30 June 202 5

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Financial Financial Financial Global Credit Total Credit Fund Income Fund Equity Fund Opportunities Fund 30 June 202 5 30 June 202 5 30 June 202 5 30 June 202 5 30 June 202 5 EUR EUR EUR EUR EUR

Net assets attributable to holders of redeemable participating shares at beginning of financial period* 19,430,320,701 14,416,886,852 1,022,333,317 366,725,201 2,400,515,739

(Decrease)/increase in net assets attributable to holders of redeemable participating shares from operations** 137,858,163 ( 63,065,077 ) 90,066,751 84,041,352 ( 9,110,014 )

Proceeds from redeemable participating shares issued 5,007,998,201 2,670,146,318 775,831,434 561,024,479 702,229,863

Payment on redemption of redeemable participating shares issued ( 2,925,031,097 ) ( 2,075,915,109 ) ( 275,904,837 ) ( 125,245,248 ) ( 239,099,388 )

Net assets attributable to holders of redeemable participating shares at end of financial period 21,651,145,968 14,948,052,984 1,612,326,665 886,545,784 2,854,536,200

* Cross holdings of EUR 77,338,800 in net assets attributable to holders of redeemable participating shares at beginning of financial period have been eliminated from the Company total. ** Investment gain of EUR 2,907,450 due to cross holdings have been eliminated from the Company total.

Page 29

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares (continued)

for the period from 1 January 2025 to 30 June 2025

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Core Italy IG Financial Global Equity Strategic Fund Credit Fund Select Fund Credit Fund 30 June 202 5 30 June 202 5 30 June 202 5 30 June 202 5 EUR EUR EUR EUR

Net assets attributable to holders of redeemable participating shares at beginning of financial period* 113,762,742 1,112,039,976 35,337,776 37,150,448

(Decrease)/increase in net assets attributable to holders of redeemable participating shares from operations** 18,252,728 18,643,028 996,421 940,424

Proceeds from redeemable participating shares issued 15,594,528 245,377,364 2,042,409 35,751,806

Payment on redemption of redeemable participating shares issued ( 15,650,484 ) ( 190,190,380 ) ( 1,669,405 ) ( 1,356,246 )

Net assets attributable to holders of redeemable participating shares at end of financial period 131,959,514 1,185,869,988 36,707,201 72,486,432

Page 30

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Cash Flows

for the period from 1 January 202 6 to 30 June 202 6

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Financial Financial Financial Global Credit Total Credit Fund Income Fund Equity Fund Opportunities Fund 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 EUR EUR EUR EUR EUR

Cash flows from operating activities Increase in net assets attributable to holders of redeemable participating shares from operations, net of tax 520,425,350 274,592,124 90,271,426 85,031,718 22,345,204 Adjustments for: Interest income (715,099,848) (475,152,793) (46,262,377) (2,940,267) (157,328,034) Distributions to holders of redeemable shares 169,684,481 136,574,434 10,129,130 10,509 14,506,968 Dividend income (52,467,226) (501,383) (21,423,624) (22,912,335) (1,647,335) Dividend expense 2,307,223 - 484 494 2,306,245 Interest expense 95,928,146 6,423,585 2,225,690 661,032 84,411,029 Withholding tax 6,456,717 150,415 2,597,495 3,164,928 491,415 27,234,843 (57,913,618) 37,538,224 63,016,079 (34,914,508)

Changes in: Balances due from brokers (13,481,752) - (547,012) (1,979,111) (5,743,207) Balances due to brokers (1,462,195) - (7,797,888) (3,315,438) 2,469,867 Balances due from members 7,647,498 6,558,029 3,067,347 (5,342,233) 1,158,365 Balance due to members 50,825,841 9,171,005 2,046,391 1,389,762 34,699,569 Financial assets at FVTPL (1,465,542,003) (738,875,573) (341,907,019) (190,590,969) (101,026,012) Other receivables (3,459,350) 4,006 1,974 (25,019) (3,453,531) Financial liabilities at FVTPL 75,139,844 31,465,495 16,068,078 8,541,996 13,968,543 Other payables (72,8 43,936 ) (66,6 66,868 ) 554,594 186,142 (6,950,591) Interest received 746,525,683 507,403,470 43,296,303 2,940,267 158,711,573 Interest paid (95,928,146) (6,423,585) (2,225,690) (661,032) (84,411,029) Dividends received 46,121,459 365,787 18,633,950 19,394,928 1,368,167 Dividends paid on securities sold short (171,991,704) (136,574,434) (10,129,614) (11,003) (16,813,213) Net cash ( used in )/provided by operating activities (871, 213,918 ) (451, 486,286 ) (241,400,362) (106,455,631) (40,936,007)

Cash flows from financing activities Receipts from subscriptions 3,825,184,443 2,069,647,659 674,355,943 472,557,391 321,384,894 Payments for redemptions (3,471,726,123) (2,064,344,180) (382,642,428) (336,746,616) (427,813,534) Net cash provided by /(used in) financing activities 353,458,320 5,303,479 291,713,515 135,810,775 (106,428,640)

Net (decrease)/ increase in cash and cash equivalents (517,7 55,598 ) (446, 182,807 ) 50,313,153 29,355,144 (147,364,647)

Cash and cash equivalents at beginning of the financial period 4,360,509,217 2,703,485,502 681,668,516 312,433,751 503,354,438

Cash and cash equivalents at end of the financial period 3,842,7 53,619 2,257, 302,695 731,981,669 341,788,895 355,989,791

Page 31

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Cash Flows (continued)

for the period from 1 January 202 6 to 30 June 202 6

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Core Italy IG Financial Global Equity Strategic Fund Credit Fund Select Fund Credit Fund 30 June 202 6 30 June 202 6 30 June 202 6 30 June 202 6 EUR EUR EUR EUR

Cash flows from operating activities Increase in net assets attributable to holders of redeemable participating shares from operations, net of tax 31,393,410 4,092,278 12,179,694 519,496 Adjustments for: Interest income (58,154) (30,862,534) (30,483) (2,465,206) Distributions to holders of redeemable shares 26,724 8,095,116 - 341,600 Dividend income (5,534,929) - (447,620) Dividend expense - - - Interest expense 459 1,843,683 217 362,451 Withholding tax 4,724 - 47,740 25,832,234 (16,831,457) 11,749,548 (1,241,659)

Changes in: Balances due from brokers (1,782,692) (3,429,730) - Balances due to brokers 3,196,538 2,218,500 1,001,276 764,950 Balances due from members (628,311) 2,471,825 (153,083) 515,559 Balance due to members 528,812 3,000,866 (27,095) 16,531 Financial assets at FVTPL (17,123,341) (39,564,982) (19,854,005) (16,600,102) Other receivables 546 758 5,795 6,121 Financial liabilities at FVTPL 1,465 3,226,191 1,724,825 143,251 Other payables 20,007 (4,607) 12,231 5,156 Interest received 58,154 31,789,407 30,483 2,296,026 Interest paid (459) (1,843,683) (217) (362,451) Dividends received 5,873,751 - 484,876 Dividends paid on securities sold short (26,724) (8,095,116) - (341,600) Net cash ( used in )/provided by operating activities 15,949,980 (27,062,028) (5,025,366) (14,798,218)

Cash flows from financing activities Receipts from subscriptions 36,968,681 220,065,485 9,759,720 20,444,670 Payments for redemptions (44,574,086) (201,586,588) (2,194,126) (11,824,565) Net cash provided by /(used in) financing activities (7,605,405) 18,478,897 7,565,594 8,620,105

Net (decrease)/ increase in cash and cash equivalents 8,344,575 (8,583,131) 2,540,228 (6,178,113)

Cash and cash equivalents at beginning of the financial period 2,960,721 141,440,949 2,549,932 12,615,408

Cash and cash equivalents at end of the financial period 11,305,296 132,857,818 5,090,160 6,437,295

Page 32

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Cash Flows

for the period from 1 January 202 5 to 30 June 202 5

The accompanying notes form an integral part of these financial statements

Cash flows from operating activities (Decrease)/increase in net assets attributable to holders of redeemable participating shares from operations, net of tax 137,858,163 (63,065,077) 90,066,751 84,041,352 (9,110,014) Adjustments for: Interest income calculated under the effective interest method (624,947,304) (442,799,551) (25,339,274) (2,056,909) (126,664,794) Distributions to holders of redeemable shares 162,834,904 134,319,334 5,393,505 115,089 15,363,590 Dividend income (34,332,717) (582,893) (14,185,993) (14,576,369) (1,588,070) Dividend expense 2,359,802 - 361,703 - 1,998,099 Interest expense 71,110,724 7,332,736 4,155,692 1,142,248 56,810,991 Withholding tax 4,458,686 174,868 1,887,200 1,873,552 471,222 (280,657,742) (364,620,583) 62,339,584 70,538,963 (62,718,976)

Changes in: Balances due from brokers (27,999,003) - (7,508,997) (9,835,540) (10,153,423) Balances due to brokers 271,378,905 177,423,852 28,446,454 10,485,343 48,760,518 Balances due from members (96,663,607) (48,286,262) (5,750,442) (4,699,156) (36,316,180) Balance due to members 40,544,206 32,988,953 (92,429) 487,134 3,347,877 Financial assets at FVTPL (2,10 4,263,445 ) (807,209,915) (414,214,851) (326,812,867) (423,514,576) Other receivables 27,700 (47,837) (9,720) (8,642) 90,574 Financial liabilities at FVTPL 36,337,671 23,094,539 1,797,716 3,379,689 12,310,769 Related parties payable 3,989,171 3,989,171 - - Other payables ( 77,087,811 ) ( 54,217,124 ) 756,510 608,111 (24,298,146) Interest received 641,927,737 465,367,808 22,185,178 2,056,909 123,675,988 Interest paid (71,110,724) (7,332,736) (4,155,692) (1,142,248) (56,810,991) Dividends received 29,481,515 476,324 12,167,530 12,351,029 1,152,639 Dividends paid on securities sold short (2,359,802) - (361,703) - (1,998,099) Net cash (used in)/provided by operating activities (1,63 6,455,229 ) (578,373,810) (304,400,862) (242,591,275) (426,472,026)

Cash flows from financing activities Receipts from subscriptions 5,007,998,234 2,670,146,318 775,831,434 561,024,512 702,229,863 Payments for redemptions (2,925,031,097) (2,075,915,109) (275,904,837) (125,245,248) (239,099,388) Distributions to holders of redeemable participating shares (162,834,904) (134,319,334) (5,393,505) (115,089) (15,363,590) Net cash provided by/(used in) financing activities 1,920,132,233 459,911,875 494,533,092 435,664,175 447,766,885

Net (decrease)/increase in cash and cash equivalents 283,677,004 (118,461,935) 190,132,230 193,072,900 21,294,859

Cash and cash equivalents at beginning of the financial period 2,955,174,498 2,014,366,137 251,186,642 96,268,652 468,051,777

Cash and cash equivalents at end of the financial period 3,238,851,502 1,895,904,202 441,318,872 289,341,552 489,346,636

Page 33

ALGEBRIS UCITS FUNDS PLC

Unaudited Statement of Cash Flows (continued)

for the period from 1 January 2025 to 30 June 2025

The accompanying notes form an integral part of these financial statements

Algebris Algebris Algebris Algebris Core Italy IG Financial Global Equity Strategic Fund Credit Fund Select Fund Credit Fund 30 June 2025 30 June 2025 30 June 2025 30 June 2025 EUR EUR EUR EUR

Cash flows from operating activities (Decrease)/increase in net assets attributable to holders of redeemable participating shares from operations, net of tax 18,252,728 18,643,028 996,421 940,424 Adjustments for: Interest income calculated under the effective interest method (59,096) (26,119,396) (30,141) (1,878,143) Distributions to holders of redeemable shares 5,507 7,509,168 - 128,711 Dividend income (3,108,718) - (290,674) Dividend expense - - - Interest expense 645 960,958 1,183 706,271 Withholding tax 2,430 - 49,414 15,093,496 993,758 726,203 (102,737)

Changes in: Balances due from brokers (9,592) - (491,451) Balances due to brokers 993,055 4,389,836 - 879,847 Balances due from members (624,965) (1,167,517) (47,790) 228,705 Balance due to members 930,080 2,888,054 (5,463) Financial assets at FVTPL (17,253,542) (84,781,534) (2,414,700) (30,968,910) Other receivables (569) (2,323) 3,263 2,954 Financial liabilities at FVTPL (15,326) (3,722,719) (413,306) (93,691) Related parties payable - - - Other payables 16,336 3,039 9,296 34,167 Interest received 59,096 27,330,759 30,141 1,221,858 Interest paid (645) (960,958) (1,183) (706,271) Dividends received 3,106,288 - 227,705 Dividends paid on securities sold short - - - Net cash (used in)/provided by operating activities 2,293,712 (55,029,605) (2,377,285) (29,504,078)

Cash flows from financing activities Receipts from subscriptions 15,594,528 245,377,364 2,042,409 35,751,806 Payments for redemptions (15,650,484) (190,190,380) (1,669,405) (1,356,246) Distributions to holders of redeemable participating shares (5,507) (7,509,168) - (128,711) Net cash provided by/(used in) financing activities (61,463) 47,677,816 373,004 34,266,849

Net (decrease)/increase in cash and cash equivalents 2,232,249 (7,351,789) (2,004,281) 4,762,771

Cash and cash equivalents at beginning of the financial period 4,598,689 113,012,697 2,285,656 5,404,248

Cash and cash equivale nts at end of the financial period 6,830,938 105,660,908 281,375 10,167,019

Page 34

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements for the period from 1 January 202 6 to 30 June 202 6

1. The reporting entity

Algebris UCITS Funds PLC (the “ Company ” ) was incorporated on 17 February 2012 as a variable capital open - ended umbrella investment company with segregated liability between Sub - Funds under the Companies Act 2014 and the Central Bank (Supervision and Enforcement Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 (the “ Central Bank UCITS Regulations ” ) with registration number 509801 and was authorised by the Central Bank of Ireland (the “ Central Bank ” ) on 9 August 2012.

The sole objective for which the Company is established is the collective investment in transferable securities and/or other liquid financial assets as pursuant to the UCITS Regulations and Central Bank UCITS Regulations. The Company was incorporated as an umbrella fund with segregated liability between sub - funds (the “ Sub - Funds ” ) in accordance with Irish law and as such, the assets of each Sub - Fund will not be exposed to the liabilities of the Company ’ s other Sub - Funds. Each Sub - Fund of the Company will be responsible for paying its fees and expenses regardless of the level of its profitability.

The registered office of the Company is 33 Sir John Rogerson ’ s Quay, Dublin 2, D02 XK09, Ireland and the Company is domiciled in Ireland.

As of period ended 30 June 202 6 , the Company’s Sub - Funds are as follows:

Algebris Financial Credit Fund Algebris Financial Income Fund Algebris Financial Equity Fund Algebris Global Credit Opportunities Fund Algebris Core Italy Fund Algebris IG Financial Credit Fund Algebris Global Equity Select Fund Algebris Strategic Credit Fund

The investment objective of Algebris Financial Credit Fund is to provide a high level of income and generate modest capital appreciation.

The investment objective of Algebris Financial Income Fund is to maximise income and generate superior risk adjusted returns over an investment cycle of approximately 3 to 5 years by investing in high dividend - yielding equity stocks and bonds.

The investment objective of Algebris Financial Equity Fund is to achieve positive absolute returns, primarily by taking long positions in equity securities and financial derivative instruments ( “ FDIs ” ) on equity securities of companies in or related to the global financial services sector and to a lesser extent, the real estate sector.

The investment objective of Algebris Global Credit Opportunities Fund is to achieve a high level of income diversifying across global bond and credit markets.

The investment objective of Algebris Core Italy Fund is to generate risk - adjusted returns in the medium to long - term, by investing in the listed equity and credit of companies which are either (i ) resident in Italy; or (ii) resident in an EU or EEA Member State and have a permanent establishment in Italy.

The investment objective of Algebris IG Financial Credit Fund is to generate an attractive level of income and modest capital appreciation in the medium term by investing the Fund ’ s assets predominantly in investment grade securities rated BBB - or above by a major rating agency ( “ Investment Grade Securities ” ).

Page 35

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

1. The reporting entity (continued)

The investment objective of Algebris Global Equity Select Fund is to make a positive impact on worldwide environmental sustainability and social standards through investing in global listed companies which make a positive impact on the world. The Fund aims to generate positive risk - adjusted returns in the long - term.

The investment objective of Algebris Strategic Credit Fund is to make a positive impact on worldwide environmental sustainability and social standards through investing in debt securities of global listed companies which make a positive impact on the world (as measured by a positive contribution to one or more of the UN Sustainable Development Goals ( “ SDGs ” )) while at the same time having a low environmental footprint and operating within the environmental boundaries that support sustainable planetary thriving. In addition to the sustainable investment objective, the Fund aims to generate an attractive level of income and positive risk - adjusted returns in the medium - to - long term.

Algebris Investment (Ireland) Limited is the Manager of the Algebris UCITS Funds Plc. Algebris (UK) Limited has been appointed as the Distributor and Promoter for all Sub - Funds and Investment Manager for all Sub - Funds except Algebris Core Italy Fund, Algebris Global Equity Select Fund and Algebris Strategic Credit Fund. For these Sub - Funds, the Manager is the Investment Manager.

The Manager assigned BNP Paribas Fund Administration Services (Ireland) Limited (the “ Administrator ” ) as the Company ’ s administrator, registrar and transfer agent, while BNP Paribas S.A., Dublin Branch (the “ Depositary ” ) as the Company ’ s depositary.

2. Material accounting policies

The material accounting policies adopted by the Company in the preparation of these financial statements are set out below.

(a) Basis of preparation

The condensed financial statements of the Company have been prepared in accordance with IAS 34, Interim Financial Reporting, Irish Statute comprising the Companies Acts 2014 (as amended), the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011, as amended (the “UCITS Regulations”) and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 (the “Central Bank UCITS Regulations”).

These condensed interim financial statements do not contain all of the information and disclosures required in the full annual financial statements and should be read in conjunction with the financial statements of the Company for the financial year ended 31 December 202 5 , which have been prepared in accordance with International Financial Reporting Standards (“IFRS”).

The accounting policies and methods of computation applied by the Company in these condensed financial statements are the same as those applied by the Company in its annual financial statements as at and for the year ended 31 December 202 5 .

Page 36

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

2. Material accounting policies (continued)

(b) Financial assets and liabilities at fair value through profit or loss

Derivative financial instruments

Forward foreign exchange contracts A forward foreign currency contract involves an obligation to purchase or sell a specific currency at a future date, at a price set at the time the contract is made. Forward foreign currency contracts are valued by reference to the forward price at which a new forward foreign currency contract of the same size and maturity could be undertaken at the valuation date. The unrealised gain or loss on open forward foreign currency contracts is calculated as the difference between the contract rate and the forward price and is recognised in the Unaudited Statement of Financial Position. Realised and change in unrealised gains or losses on forward contracts are recognised in the Unaudited Statement of Comprehensive Income. Where a forward foreign currency contract is purchased to hedge the currency risk of a specific class which is issued in a currency other than the measurement currency of the Company, all gains and losses on that forward foreign currency contract are allocated to that class.

Contracts for difference Contracts for difference are agreements between the Company and third parties, which allow the Company to acquire an exposure to the price movement of specific securities without actually purchasing the securities. The changes in contract values are recorded as unrealised gains or losses and the Company recognises a realised gain or loss when the contract is closed. Realised and unrealised gains and losses on contracts for difference are recognised in the Unaudited Statement of Comprehensive Income. At each valuation point the difference in price between the contract price of the contracts for difference and the market price of the underlying equity is recorded as the fair value (unrealised gain or loss) of the contracts for difference. When a contract for difference is closed the difference between the contract price of the contracts for difference and the market price is recorded as a realised fair value gain or loss in the Unaudited Statement of Comprehensive Income.

Futures Futures are contracts for delayed delivery of commodities in which the seller agrees to make delivery at a specific future date of a specific commodity, at a specified price or yield. Gains and losses on futures are recorded by the Sub - Funds based on market fluctuations and are recorded as realised or unrealised gains/(losses) or other income dependent upon settlement terms of the contracts held. Futures are valued at fair value based on the settlement price on the relevant valuation date.

Options An option is a financial contract that gives an investor the right, but not the obligation, to either buy or sell an asset at a pre - determined price (known as the strike price) by a specified date (known as the expiration date). Options are valued at fair value based on the closing price on the relevant valuation date provided by the relevant counterparties.

The premium on written call options exercised is added to the proceeds from the sale of the underlying security or foreign currency in determining the realised gain or loss. The premium on written put options exercised is subtracted from the cost of the securities or foreign currencies purchased. Premiums received from written options, which expire unexercised, are treated as realised gains. For unsettled positions, unrealised gains or losses are recognised in the Unaudited Statement of Comprehensive Income.

Total return swaps A total return swap is a derivative contract between two parties where they agree to exchange the investment return and income on an underlying asset or a basket of assets for the investment return and income on a different underlying asset or a basket of assets which is agreed between the parties. Realised and movement of unrealised gains and losses are recognized in the Unaudited Statement of Comprehensive Income.

Page 37

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

2. Material accounting policies (continued)

(b) Financial assets and liabilities at fair value through profit or loss (continued)

Derivative financial instruments (continued)

Equity w arrants Warrants are recorded as an asset or liability at their fair value on the Unaudited Statement of Financial Position. Fair value as determined by the Administrator is the quoted market price as provided by electronic feed from one or more reputable price vendors. The change in fair value, if any, is recorded as an unrealised gain or loss in the Unaudited Statement of Comprehensive Income. Realised gains or losses on warrants are shown in the Unaudited Statement of Comprehensive Income. On the expiry of a warrant the amount previously recognised in the Unaudited Statement of Financial Position is recognised in the Unaudited Statement of Comprehensive Income as a realised gain or loss.

Realised and movements in unrealised gains and losses on all derivative contracts are recognised in the Unaudited Statement of Comprehensive Income.

( c ) Due from/to brokers

Amounts due from/to brokers represent payables for securities purchased and receivables for securities sold that have been contracted for but not yet delivered by the end of the period . ( d ) Taxation

Dividends, interest and capital gains (if any) received on investments made by the Company may be subject to withholding taxes imposed by the country from which the investment income/gains are received and such taxes may not be recoverable by the Company or its shareholders.

Income that is subject to such tax is recognised gross of taxes and the corresponding withholding tax is recognised as a tax expense.

( e ) Due from/to members

Amounts due from/to members represent payables for capital subscriptions and receivables for capital redemptions that have been contracted for but not yet delivered by the end of the p period . ( f) f) Distributions

The Directors are permitted to declare distributions in respect of any Sub - Fund and any class of shares. Distributions may not be payable for all Sub - Funds or all classes of shares. The current distribution policy for each Sub - Fund is set out in the relevant supplement. For all classes of shares that are not distributing share classes, the Sub - Fund ’ s income and capital gains will be reinvested in accordance with the investment objectives and investment policies of the Sub Fund. Any change to a Sub - Fund ’ s distribution policy will be disclosed in an updated prospectus or supplement and notified in advance to shareholders.

( g ) Elimination of cross holdings

Algebris IG Financial Credit Fund, a Sub - Fund of the Company holds investments in Class M Accumulating Shares of Algebris Financial Credit Fund which is also a Sub - Fund of the Company.

For the purposes of determining the net assets and results of the Company, these cross holdings are eliminated so that the total amounts only reflect external assets and liabilities of the Company as a whole.

This elimination for the purpose of ascertaining the total Company results and net assets does not have any effect on the results and net assets of any individual Sub - Fund.

Page 38

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3 . Fair value measurement

IFRS 13 establishes a fair value hierarchy that prioritises the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy ar e described in the table below.

Level 1

The unadjusted quoted price in an active market for identical assets or liabilities that the entity can access at the measurement date;

Level 2

Inputs other than quoted prices included within Level 1 that are observable (i.e. developed using market data) for the asset or liability, either directly or indirectly. This category includes instruments valued using: quoted prices in active markets for similar instruments; quoted prices for similar instruments in markets that are considered less than active; or other valuation techniques where all significant inputs are directly or indirectly observable from market data; and

Level 3

Inputs are unobservable (i.e. for which market data is unavailable) for the asset or liability. This category includes all instruments where the valuation techniques used include inputs not based on market data and these inputs could have a m aterial impact on the instrument ’ s valuation. This category also includes instruments that are valued based on quoted prices for similar instruments where significant entity determined adjustments or assumptions are required to reflect differences between the instruments and instruments for which there is no active market.

For this purpose, the significance of an input is assessed against the fair value measurement in its entirety. The det ermination of what constitutes ‘ unobservable ’ requires significant judgement. The Directors consider observable data to be that market data that is readily available, regularly distributed or updated, reliable, verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market.

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 30 June 2026:

Algebris Financial Credit Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Fixed income - 14,439,597,650 - 14,439,597,650 Financial derivative instruments

- Forward foreign exchange contracts - 41,186,048 - 41,186,048 Total financial assets at fair value through profit or loss - 14,480,783,698 - 14,480,783,698

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (49,193,047) - (49,193,047) Total financial liabilities at fair value through profit or loss - (49,193,047) - (49,193,047)

There were no transfers between Level 1 and Level 2 during the financial period . There were six Level 3 investment held during the financial period with nil value.

Page 39

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3 . Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 30 June 2026:

Algebris Financial Income Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 871,793,980 - - 871,793,980 - Fixed income - 1,291,011,690 - 1,291,011,690 Financial derivative instruments

- Forward foreign exchange contracts - 4,402,676 - 4,402,676 - Futures 1,159,400 - - 1,159,400 - Options 1,035,435 224,074 - 1,259,509 Total financial assets at fair value through profit or loss 873,988,815 1,295,638,440 - 2,169,627,255

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Contracts for difference - (1,235,077) - (1,235,077)

- Forward foreign exchange contracts - (15,761,410) - (15,761,410)

- Futures (1,050,196) - - (1,050,196)

- Options (96,829) - - (96,829) Total financial liabilities at fair value through profit or loss (1,147,025) (16,996,487) - (18,143,512)

There were no transfers between Level 1 and Level 2 during the financial period . There were no Level 3 investments held during the financial p period .

Page 40

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3. Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 30 June 2026:

Algebris Financial Equity Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 1,102,043,142 - - 1,102,043,142 Financial derivative instruments

- Forward foreign exchange contracts - 3,089,690 - 3,089,690 - Options 136,022 - - 136,022 Total financial assets at fair value through profit or loss 1,102,179,164 3,089,690 - 1,105,268,854

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Contracts for difference - (1,200,147) - (1,200,147)

- Forward foreign exchange contracts - (8,821,941) - (8,821,941)

- Options (29,741) - - (29,741) Total financial liabilities at fair value through profit or loss (29,741) (10,022,088) - (10,051,829)

There were no transfers between Level 1 and Level 2 during the financial period . There were no Level 3 investments held during the financial p period .

Page 41

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3. Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 30 June 2026:

Algebris Global Credit Opportunities Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 12,797,658 3,559,483 - 16,357,141

- Fixed income - 2,476,222,567 17,626 2,476,240,193 Financial derivative instruments

- Contract for difference - 7,132,625 - 7,132,625

- Forward foreign exchange contracts - 2,3 24 , 693 - 2,3 24 , 693 - Futures 2,202,082 - - 2,202,082

- Options 665,471 1,906,618 - 2,572,089

- Credit Default Swap - 7,564,418 - 7,564,418

- Interest Rate Swap - 2,729,838 - 2,729,838 Total financial assets at fair value through profit or loss 15,665,211 2,501,440,242 17,626 2,517, 1 23, 079

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Contract for difference - (9,364,340) - (9,364,340)

- Forward foreign exchange contracts - (15, 188 , 784 ) - (15, 188 , 784 )

- Futures (4,677,724) - - (4,677,724)

- Options (124,606) - - (124,606)

- Credit Default Swap - (6,640,810) - (6,640,810)

- Credit Default Swap Index - (43,202,411) - (43,202,411)

- Interest Rate Swap - (578,155) - (578,155) Total financial liabilities at fair value through profit or loss (4,802,330) (7 4 , 974 ,5 00 ) - (79, 776 , 830 )

There were no transfers between Level 1 and Level 2 during the financial period . There were three Level 3 investments held during the financial period with combined market value of EUR 17,626 and there were eight Level 3 investment held during the financial p period with n nil value.

The following table presents a Level 3 reconciliation as at 30 June 2026.

Algebris Global Credit Opportunities Fund Fixed Income EUR Balance at 1 January 2026 15,757 Net gains on financial assets and liabilities at fair value through profit or loss 1,869 Balance at 30 June 2026 17,626

There was an unrealised gain of EUR 1,869 as at p period end 30 June 2026.

Page 42

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3. Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 30 June 2026:

Algebris Core Italy Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 168,746,450 - - 168,746,450

- Fixed income - - 956 956 Financial derivative instruments

- Forward foreign exchange contracts - 222,834 - 222,834 Total financial assets at fair value through profit or loss 168,746,450 222,834 956 168,970,240

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (24,546) - (24,546) Total financial liabilities at fair value through profit or loss - (24,546) - (24,546)

There were no transfers between Level 1 and Level 2 during the financial year. There was one Level 3 investment held during the financial p period with a market value of EUR 956 . The following table presents a Level 3 reconciliation as at 30 June 2026.

Algebris Core Italy Fund Fixed Income EUR Balance at 1 January 2026 823 Net gains on financial assets and liabilities at fair value through profit or loss 133 Balance at 30 June 2026 956

There was an unrealised gain of EUR 133 as at p period end 30 June 2026.

Page 43

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3. Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 30 June 2026:

Algebris IG Financial Credit Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Investment funds

- Mutual Funds - 82,372,500 - 82,372,500 Transferable securities

- Fixed income - 1,102,906,181 - 1,102,906,181 Financial derivative instruments

- Forward foreign exchange contracts - 642,140 - 642,140 Total financial assets at fair value through profit or loss - 1,185,920,821 - 1,185,920,821

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (4,271,892) - (4,271,892) Total financial liabilities at fair value through profit or loss - (4,271,892) - (4,271,892)

There were no transfers between Level 1 and Level 2 during the financial period . There were no Level 3 investments held during the financial p period . The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 30 June 2026:

Algebris Global Equity Select Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 54,305,243 - - 54,305,243 Financial derivative instruments

- Forward foreign exchange contracts - 37,410 - 37,410 Total financial assets at fair value through profit or loss 54,305,243 37,410 - 54,342,653

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Equity securities (1,308,707) - - (1,308,707)

- Forward foreign exchange contracts - (420,589) - (420,589) Total financial liabilities at fair value through profit or loss (1,308,707) (420,589) - (1,729,296)

There were no transfers between Level 1 and Level 2 during the financial period . There were no Level 3 investments held during the financial p period .

Page 44

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3. Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 30 June 2026 :

Algebris Strategic Credit Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Fixed income - 106,706,228 - 106,706,228 Financial derivative instruments

- Forward foreign exchange contracts - 28,485 - 28,485 Total financial assets at fair value through profit or loss - 106,734,713 - 106,734,713

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (174,279) - (174,279) Total financial liabilities at fair value through profit or loss - (174,279) - (174,279)

Algebris Financial Credit Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Fixed income - 13,725,716,469 - 13,725,716,469 Financial derivative instruments

- Forward foreign exchange contracts - 14,141,907 - 14,141,907

- Options 2,049,749 - - 2,049,749 Total financial assets at fair value through profit or loss 2,049,749 13,739,858,376 - 13,741,908,125

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (17,727,552) - (17,727,552) Total financial liabilities at fair value through profit or loss - (17,727,552) - (17,727,552)

There were no transfers between Level 1 and Level 2 during the financial year. There were six Level 3 investments held during the financial year with nil value .

Page 45

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3 . Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 31 December 202 5 :

Algebris Financial Income Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 770,707,816 15,213,319 - 785,921,135 - Fixed income - 1,036,352,242 - 1,036,352,242 Financial derivative instruments

- Contracts for difference - 454,308 - 454,308 - Forward foreign exchange contracts - 3,265,183 - 3,265,183 - Futures 66,810 - - 66,810 - Options 1,660,558 - - 1,660,558 Total financial assets at fair value through profit or loss 772,435,184 1,055,285,052 - 1,827,720,236

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Contracts for difference - (131,691) - (131,691)

- Forward foreign exchange contracts - (1,943,743) - (1,943,743) Total financial liabilities at fair value through profit or loss - (2,075,434) - (2,075,434)

There were no transfers between Level 1 and Level 2 during the financial year . There were no Level 3 investments held during the financial year.

Page 46

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3 . Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 31 December 202 5 :

Algebris Financial Equity Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 911,055,514 - - 911,055,514 Financial derivative instruments

- Contracts for difference - 580,125 - 580,125 - Forward foreign exchange contracts - 2,076,699 - 2,076,699 - Options 965,547 - - 965,547 Total financial assets at fair value through profit or loss 912,021,061 2,656,824 - 914,677,885

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Contracts for difference - (128,323) - (128,323)

- Options (311,131) - - (311,131)

- Forward foreign exchange contracts - (1,070,379) - (1,070,379) Total financial liabilities at fair value through profit or loss ( 311,131 ) (1,198,702) - (1,509,833)

There were no transfers between Level 1 and Level 2 during the financial year . There were no Level 3 investments held during the financial year.

Page 47

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3 . Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 31 December 202 5 :

Algebris Global Credit Opportunities Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 17,668 15,861,108 - 15,878,776

- Fixed income - 2,385,795,608 15,757 2,385,811,365 Financial derivative instruments

- Contract s for difference - 1,222,004 - 1,222,004

- Forward foreign exchange contracts - 3,550,368 - 3,550,368 - Futures 1,194,012 - - 1,194,012

- Options 469,674 - - 469,674

- Credit Default Swap - 2,011,613 - 2,011,613

- Credit Default Swap Index - 1,299,236 - 1,299,236

- Interest Rate Swap - 4,629,809 - 4,629,809

- Equity warrants - 30,210 - 30,210 Total financial assets at fair value through profit or loss 1,681,354 2,414,399,956 15,757 2,416,097,067

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Contract for difference - (5,161,893) - (5,161,893)

- Forward foreign exchange contracts - (1,845,413) - (1,845,413)

- Futures (165,422) - - (165,422)

- Options (7,572) - - (7,572)

- Credit Default Swap - (3,887,649) - (3,887,649)

- Credit Default Swap Index - (54,137,887) - (54,137,887)

- Interest Rate Swap - (602,451) - (602,451) Total financial liabilities at fair value through profit or loss (172,994) (65,635,293) - (65,808,287)

There were no transfers between Level 1 and Level 2 during the financial year. There were t hree Level 3 investments held during the financial year with combined market value of EUR 15, 757 and there were eight Level 3 investment held during the financial year with nil value.

The following table presents a Level 3 reconciliation as at 31 December 202 5 . Fixed Income EUR Balance at 1 January 2025 12,804 Net gains on financial assets and liabilities at fair value through profit or loss 2,953 Balance at 31 December 2025 15,757

There wa s an u u nrealised gain of EUR 2,953 as at year end 31 December 2025.

Page 48

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3 . Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 31 December 202 5 :

Algebris Core Italy Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 150,795,644 - - 150,795,644

- Fixed income - - 823 823 Financial derivative instruments

- Equity warrants 1,042,704 - - 1,042,704

- Forward foreign exchange contracts - 7,728 - 7,728 Total financial assets at fair value through profit or loss 151,838,348 7,728 823 151,846,899

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (23,081) - (23,081) Total financial liabilities at fair value through profit or loss - (23,081) - (23,081)

There were transfers of investments in Equity securities mounting to EUR 15,344,602 from Level 2 to Level 1 during the financial year. There was one Level 3 investment held during the financial year with a market value of EUR 823 . The following table presents a Level 3 reconciliation as at 31 December 202 5 . Algebris Core Italy Fund Fixed Income EUR Balance at 1 January 202 5 596 Net gains on financial assets and liabilities at fair value through profit or loss 227 Balance at 31 December 202 5 823

There wa s an u u nrealised gain of EUR 227 as at year end 31 December 2025.

Page 49

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3 . Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 31 December 202 5 :

Algebris IG Financial Credit Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Investment funds

- Mutual Funds - 80,608,500 - 80,608,500 Transferable securities

- Fixed income - 1,064,668,115 - 1,064,668,115 Financial derivative instruments

- Options 161,305 - - 161,305 - Forward foreign exchange contracts - 917,919 - 917,919 Total financial assets at fair value through profit or loss 161,305 1,146,194,534 - 1,146,355,839

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (1,045,701) - (1,045,701) Total financial liabilities at fair value through profit or loss - (1,045,701) - (1,045,701)

There were no transfers between Level 1 and Level 2 during the financial year. There were no Level 3 investments held during the financial year.

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 31 December 202 5 :

Algebris Global Equity Select Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Equity securities 34,413,314 - - 34,413,314 Financial derivative instruments

- Forward foreign exchange contracts - 75,334 - 75,334 Total financial assets at fair value through profit or loss 34,413,314 75,334 - 34,488,648

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (4,471) - (4,471) Total financial liabilities at fair value through profit or loss - (4,471) - (4,471)

There were no transfers between Level 1 and Level 2 during the financial year. There were no Level 3 investments held during the financial year.

Page 50

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

3 . Fair value measurement (continued)

The following tables provide an analysis of financial assets and financial liabilities measured at fair value as at 31 December 202 5 :

Algebris Strategic Credit Fund Level 1 Level 2 Level 3 Total EUR EUR EUR EUR Financial assets at fair value through profit or loss Transferable securities

- Fixed income - 90,086,922 - 90,086,922 Financial derivative instruments

- Options 11,803 - - 11,803

- Forward foreign exchange contracts - 35,886 - 35,886 Total financial assets at fair value through profit or loss 11,803 90,122,808 - 90,134,611

Financial liabilities at fair value through profit or loss Financial derivative instruments

- Forward foreign exchange contracts - (31,028) - (31,028) Total financial liabilities at fair value through profit or loss - (31,028) - (31,028)

There were no transfers between Level 1 and Level 2 during the financial year. There were no Level 3 investments held during the financial year.

Investments Investments whose values are based on quoted market prices in active markets are classified within level 1. These include active listed equities and bonds with high trading volumes. The Directors do not adjust the quoted price for such instruments, even in situations where the Company holds a large position and a sale could reasonably impact the quoted price.

Investments that trade in markets that are not considered to be active, but are valued based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs are classified within level 2.

Investments classified within level 3 have significant unobservable inputs, as they trade infrequently or not at all. There are level 3 investments held as at 30 June 2026 with a value of EUR 18,582 ( 31 December 202 5 : EUR 15,936 ) . Derivative instruments Derivative instruments can be exchange - traded or privately negotiated over - the - counter ( “ OTC ” ). Exchange - traded derivatives, such as futures contracts and exchange traded option contracts, are typically classified within level 1 or level 2 of the fair value hierarchy depending on whether or not they are deemed to be actively traded. OTC derivatives, such as forward foreign exchange contracts and contract for difference have inputs which can generally be corroborated by market data and are therefore classified within level 2.

The Company has not disclosed the fair values for financial instruments such as cash and cash equivalents, due to/from broker, due to/from members and short - term receivables and payables as these are short - term in nature and the carrying amount is a reasonable approximation of fair value.

Page 51

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

4 . Fees and expenses

The following tables illustrate the Management fee rates applied to each share class per Sub - Fund. The Manager and the Investment Manager are entitled to receive a management fee for Algebris Financial Credit Fund, Algebris Financial Income Fund, Algebris Financial Equity Fund, Algebris Global Credit Opportunities Fund and Algebris IG Financial Credit Fund. The Manager shall be entitled to receive a management fee for Algebris Core Italy Fund, Algebris Global Equity Select Fund and Algebris Strategic Credit Fund.

Investment management fees

Algebris Financial Credit Fund Algebris Financial Income Fund Net Asset Value Net Asset Value Class I Shares 0.50% Class B Shares 0.50% Class XXL Shares 0.50% Class XXL Shares 0.50% Class Z Shares 0.79% Class I Shares 0.90% Class R Shares 1.20% Class R Shares 1.80% Class W Shares 1.50% Class I2 Shares 1.15% Class C Shares 1.00% Class A Shares 1.65% Class A Shares 1.35% Class I2 Shares 0.85% Class W2 Shares 1.50%

Algebris Financial Equity Fund Algebris Global Credit Opportunities Fund Net Asset Value Net Asset Value Class B Shares 0.80% Class B Shares 0.75% Class I Shares 0.80% Class I Shares 0.90% Class R Shares 1.80% Class XXL Shares 0.60% Class I2 Shares 1.45% Class R Shares 1.50% Class A Shares 1.95% Class W Shares 1.80%

Algebris Core Italy Fund Algebris IG Financial Credit Fund Net Asset Value Net Asset Value Class EB Shares 0.50% Class B Shares 0.40% Class I Shares 0.75% Class I Shares 0.50% Class R Shares 1.50% Class W Shares 0.90% Class S Shares 1.90% Class R Shares 1.00%

Algebris Global Equity Select Fund Algebris Strategic Credit Fund Net Asset Value Net Asset Value Class B Shares 0.60% Class B Shares 0.30% Class I Shares 0.80% Class I Shares 0. 6 5% Class R Shares 1.90% Class R Shares 1. 4 0%

The Management Fee shall be ( i) calculated and accrued daily; and (ii) is calculated by reference to the NAV of the relevant Shares before the deduction of that days ’ Management Fee and accrued Performance Fee. The Management Fee is normally payable in arrears within 14 days of the end of the relevant month end.

No Management Fee shall be payable in respect of Class M, Class Mm or Class Md Shares.

In addition, the Manager and the Investment Manager shall be entitled to be reimbursed its reasonably vouched out of pocket expenses. Each Sub - Fund shall bear its pro - rata share of such out - off- pocket expenses. Investment management fees amounted to EUR 125,101,811 for the financial period ended 30 June 2026 ( 30 June 2025 : EUR 97,817,998 ) of which EUR 22,389,87 1 (31 December 202 5 : EUR 22,179,518 ) was payable at financial period end.

Page 52

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

4 . Fees and expenses (continued)

Performance fees

The Performance Fee (if any) will accrue daily. The amount accrued on each day will be determined by calculating the Performance Fee that would be payable if that day was the last day of the current Performance Period. The Performance Fee will be payable by the relevant Sub - Fund to the Manager for the Algebris Core Italy Fund and to the Investment Manager for all other Sub - Funds, annually in arrears normally within 14 calendar days of the end of each Performance Period.

The Performance Fee, if any, is calculated on NAV per Share (after the deduction of the Management Fee and all other payments and expenses but before the deduction of any accrued Performance Fee) at the end of each Performance Period (with respect to the Class I and Class R Accumulating Share Classes) and the Adjusted NAV (with respect to the Class I and Class R Distributing Share Classes) including in each case, for the avoidance of doubt the net realised and unrealised gains and losses. As a result, a Performance Fee may be paid on unrealised gains which may subsequently never be realised. There is no repayment of any Performance Fee already paid if the NAV per Share subsequently falls back below the High Water Mark or Adjusted High Water Mark, as appropriate, even if an investor redeems its holding. Accrued Performance Fee will be crystallised upon any redemption.

“ Adjusted NAV ” means the NAV per Share of the Class I , Class R , Class B and Class XXL Distributing Class after the deduction of the Management Fee and all other payments and expenses but before the deduction of any accrued Performance Fee (the “ Performance Fee ” ) at the end of a Performance Period adjusted by the aggregate amount of all distributions per Share declared in respect of the Distributing Class since the initial issue of Shares in the Class.

“ High Water Mark ” means the previous highest of (i) the highest NAV per Share of the Class I , Class R Accumulating Classes , Class B and Class XXL (before any accrual for the Performance Fee) at the end of any previous Performance Period on which the Performance Fee was paid; and (ii) the Initial Offer Price of the relevant Class I and Class R Accumulating Shares.

“ Performance Period ” means a calendar year ending on 31 December for the first Performance Period and ending on 31 December in each subsequent year, save that the first Performance Period will commence upon the initial issue of Class I Shares , Class R , Class B and Class XXL Shares and will end on the following period end. Performance Periods were quarterly up to and including 30 September 2020, from when it has changed to “ no more than annually ” . To bring the Performance Period in line with the Financial Statements it was decided to run a 15 month performance period up to 31 December 202 1 . “ Adjusted High Water Mark ” means the previous highest of (i ) the highest Adjusted NAV (before any accrual for the Performance Fee) at the end of any previous Performance Period on which the Performance Fee was paid; and (ii) the Initial Offer Price of the Class I Accumulating Shares , Class R Accumulating Shares , Class B Accumulating Shares and Class XXL Accumulating Shares , respectively.

The calculation of the Performance Fee shall be verified by the Depositary.

Algebris Financial Credit Fund The Performance Fee in respect of the Class I and Class R Accumulating Classes is equal to 10% of the excess of the NAV per Share of the relevant Class I Shares and Class R Shares (after the deduction of the Management Fee and all other payments and expenses but before the deduction of any accrued Performance Fee) at the end of a Performance Period over the High Water Mark.

The Performance Fee in respect of the Class I and Class R Distributing Classes is equal to 10% of the excess of the Adjusted NAV over the Adjusted High Water Mark.

No Performance Fees shall be payable in respect of Class A, Class C, Class I2, Class M, Class W , Class W2, Class W2d, Class XXLD, Class Md, Class Wd and Class Z Shares.

Performance Fees for the financial period ended 30 June 202 6 amounted to EUR 27,682,090 ( 30 June 2025 : EUR 43,755,029 ) of which EUR 26,934,236 (31 December 202 5 : EUR 93,222,062 ) was payable to Algebris (UK) Limited at financial period end.

Page 53

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

4 . Fees and expenses (continued)

Performance fees (continued)

Algebris Financial Income Fund There are no Performance Fees, as per prospectus, in respect of Algebris Financial Income Fund for the financial period ended 30 June 202 6 and 30 June 202 5 . Algebris Financial Equity Fund There are no Performance Fees, as per prospectus, in respect of Algebris Financial Equity Fund for the financial period ended 30 June 202 6 and 30 June 202 5 . Algebris Global Credit Opportunities Fund The Performance Fee in respect of the Class I, Class XXL and Class R Accumulating Classes is equal to 15% of the excess of the NAV per Share of the relevant Class I Shares, Class XXL and Class R Shares (after the deduction of the Management Fee and all other payments and expenses but before the deduction of any accrued Performance Fee) at the end of a Performance Period over the High Water Mark.

The Performance Fee in respect of the Class B Accumulating Class Shares is equal to 10% of the excess of the Net Asset Value per Share of the Class B Accumulating Class Shares . The Performance Fee in respect of the Class B Distributing Class is equal to 10% of the excess of the Adjusted NAV over the Adjusted High Water Mark.

The Performance Fee in respect of the Class I, Class XXL and Class R Distributing Classes is equal to 15% of the excess of the Adjusted NAV over the Adjusted High Water Mark . The Performance Fee, if any, is calculated on NAV per Share (after the deduction of the Management Fee and all other payments and expenses but before the deduction of any accrued Performance Fee) at the end of each Performance Period (with respect to the Class B, Class I, Class XXL and Class R Accumulating Shares Classes) and the Adjusted NAV (with respect to the Class B, Class I, Class XXL and Class R Distributing Share Classes) including in each case, for the avoidance of doubt the net realised and unrealised gains and losses. As a result, a Performance Fee may be paid on unrealised gains which may subsequently never be realised.

There is no repayment of any Performance Fee already paid if the NAV per Share subsequently falls back below the High Water Mark or Adjusted High Water Mark, as appropriate, even if an investor redeems its holding.

No Performance Fee shall be payable in respect of Class A, Class C, Class I2, Class M, Class Md, Class W, Class Wd and Class Z shares.

Performance Fees for the financial period ended 30 June 202 6 amounted to EUR 6,355,058 ( 30 June 2025 : EUR 4,564,498 ) of which EUR 6,011,418 (31 December 202 5 : EUR 12,732,771 ) was payable to Algebris (UK) Limited at financial p period end.

Algebris Core Italy Fund The Performance Fee is equal to 15% of the Excess Return (if any) multiplied by the Adjusted NAV of the relevant Class I and Class R Shares.

The Performance Fee (if any) will accrue daily. The amount accrued on each day will be determined by calculating the Performance Fee that would be payable if that day was the last day of the current Performance Period. The Performance Fee will be payable by the Fund to the Manager annually in arrears normally within 14 calendar days of the end of each Performance Period.

Page 54

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

4 . Fees and expenses (continued)

Performance fees (continued)

Algebris Core Italy Fund (continued) The Performance Fee, if any, is calculated on the Adjusted NAV at the end of each Performance Period (with respect to the Class I and Class R Share Classes) and, for the avoidance of doubt, the net realised and unrealised gains and losses. As a result, a Performance Fee may be paid on unrealised gains which may subsequently never be realised. There is no repayment of any Performance Fee already paid if the Adjusted NAV per Share subsequently falls back below the value of the Adjusted NAV per Share at the previous crystallization date, even if an investor redeems its holding.

No Performance Fees shall be payable in respect of Class EB and Class M Shares.

There are no Performance Fees in respect of Algebris Core Italy Fund for the financial period ended 30 June 202 6 and 30 June 202 5 . Algebris IG Financial Credit Fund There are no Performance Fees in respect of Algebris IG Financial Credit Fund for the financial period ended 30 June 202 6 and 30 June 202 5 . Algebris Global Equity Select Fund There are no Performance Fees in respect of Algebris Global Equity Select Fund for the financial period ended 30 June 202 6 and 30 June 202 5 . Algebris Strategic Credit Fund There are no Performance Fees in respect of Algebris Strategic Credit Fund for the financial period ended 30 June 2026 and 30 June 2025 . Administration fees

The Administrator (BNP Paribas Fund Administration Services (Ireland) Limited) shall be entitled to receive out of the assets of each Sub - Fund a fee, accrued and calculated daily and payable monthly in arrears, at a rate of up to 0.035% per annum of a Sub - Fund ’ s NAV for the first EUR 200 million, 0.03% per annum of a Sub - Fund ’ s NAV between EUR 200 million and EUR 500 million and 0.02% per annum of a Sub - Fund ’ s NAV above EUR 500 million subject to minimum fees of EUR 600,000 per annum on Fund Administration and Depositary based on a maximum of 10 sub - funds. In addition, the Administrator shall be entitled to be reimbursed its reasonable vouched out - off- pocket expenses, transaction and account fees.

Administration fees for the financial period ended 30 June 202 6 amounted to EUR 2,677,71 5 ( 30 June 2025 : EUR 2,216,302 ) of which EUR 928,386 (31 December 202 5 : EUR 887,936 ) was payable at financial p period end.

Depositary fees

The Depositary (BNP Paribas S.A., Dublin Branch) shall be entitled to receive out of the assets of each Sub - Fund a fee, accrued and calculated daily and payable monthly in arrears, at a rate of 0.01% per annum of a Sub - Fund ’ s NAV subject to a minimum fees of EUR 600,000 per annum on Fund Administration and Depositary based on a maximum of 10 sub - funds.

Depositary fees for the financial period ended 30 June 202 6 amounted to EUR 1,983,94 3 ( 30 June 2025 : EUR 1,610,466 ) of which EUR 421,84 8 (31 December 202 5 : EUR 405,976 ) was payable at financial p period end.

Page 55

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

4 . Fees and expenses (continued)

Directors ’ fees and expenses

The Directors shall be entitled to be paid a fee from the assets of the Company by way of remuneration for their services at a rate to be determined from time to time by the Directors, provided that the aggregate amount of Directors ’ remuneration in any one financial period shall not exceed EUR 85,000 such other maximum amount as may be determined by the Directors, notified to Shareholders in advance, and disclosed in the Prospectus or the Company ’ s annual report. Alexander Lasagna is an employee of the parent company of the Investment Manager and shall not receive a Directors ’ fee. The Directors will be entitled to be reimbursed by the Company for all reasonable disbursements and out - off- pocket expenses incurred by them. The Directors ’ fees for the financial period ended 30 June 202 6 amounted to EUR 42,152 ( 30 June 2025 : EUR 42,152 ) of which EUR 32,81 7 (31 December 202 5 : EUR 33,161 ) was payable at financial period end.

Auditor remuneration

Fees accrued for the statutory auditor, PricewaterhouseCoopers Ireland:

30 June 202 6 31 December 202 5 EUR EUR Audit fees : Statutory audit of financial statement 68,401 146,000

Company secretarial fees

The Company has appointed Tudor Trust Limited as Company Secretary. Company secretarial fees included in other expenses for the financial period ended 30 June 2026 amounted to EUR 19,577 ( 30 June 2025 : EUR 14,874 ) of which EUR 18,620 (31 December 202 5 : EUR 15,000 ) was payable included in a ccrued expenses and other payables at financial p period end.

Transaction costs

The below table provides a breakdown of the total custody transaction costs for the fina ncial period ended 3 0 June 202 6 and 30 June 202 5 . 30 June 202 6 30 June 202 5 EUR EUR Algebris Financial Credit Fund 152 Algebris Financial Income Fund - 34,688 Algebris Financial Equity Fund - 24,541 Algebris Global Credit Opportunities Fund 904 1,616 Algebris Core Italy Fund - 1,317 Algebris IG Financial Credit Fund - 1,478 Algebris Global Equity Select Fund - Algebris Strategic Credit Fund - Total 1,056 63,640

Page 56

ALGEBRIS UCITS FUNDS PLC

Notes to the Unaudited Financial Statements (continued) for the period from 1 January 2026 to 30 June 2026

5 . Distributions

The below tables show the ex - date distributions paid during 202 6 . Algebris Financial Credit Fund

30 June 202 6 30 June 202 5 Share Class Ex - Date Rate Ex - Date Rate

AUD Class Cd 09 - Jan - 26 AUD 1.1092 - AUD Class Rd 09 - Jan - 26 AUD 1.3084 09 - Jan - 25 AUD 1.2001 AUD Class Wd 09 - Jan - 26 AUD 1.2056 09 - Jan - 25 AUD 1.4259 CHF Class Id 09 - Jan - 26 CHF 1.4132 09 - Jan - 25 CHF 1.6605 CHF Class Rd 09 - Jan - 26 CHF 1.2198 09 - Jan - 25 CHF 1.2983 CHF Class Wd 09 - Jan - 26 CHF 1.2213 09 - Jan - 25 CHF 1.3312 EUR Class Cd 09 - Jan - 26 EUR 1.3866 09 - Jan - 25 EUR 1.5074 EUR Class Id 09 - Jan - 26 EUR 1.5612 09 - Jan - 25 EUR 1.7226 EUR Class Md 09 - Jan - 26 EUR 1.7086 09 - Jan - 25 EUR 1.7321 EUR Class Rd 09 - Jan - 26 EUR 1.3456 09 - Jan - 25 EUR 1.4745 EUR Class Wd 09 - Jan - 26 EUR 1.4168 09 - Jan - 25 EUR 1.4769 EUR Class W2d 09 - Jan - 26 EUR 1.0296 - EUR Class XXLd 09 - Jan - 26 EUR 1.4696 09 - Jan - 25 EUR 1.6127 EUR Class Zd 09 - Jan - 26 EUR 1.3020 09 - Jan - 25 EUR 1.4347 GBP Class Cd 09 - Jan - 26 GBP 1.5383 09 - Jan - 25 GBP 1.7800 GBP Class Id 09 - Jan - 26 GBP 1.6375 09 - Jan - 25 GBP 1.8806 GBP Class Md 09 - Jan - 26 GBP 1.7356 09 - Jan - 25 GBP 1.9207 GBP Class Rd 09 - Jan - 26 GBP 1.4314 09 - Jan - 25 GBP 1.5284 GBP Class Wd 09 - Jan - 26 GBP 1.4711 09 - Jan - 25 GBP 1.5324 GBP Class Zd 09 - Jan - 26 GBP 1.6191 09 - Jan - 25 GBP 1.7241 HKD Class Rd 09 - Jan - 26 HKD 1.3102 09 - Jan - 25 HKD 1.1593 HKD Class Wd 09 - Jan - 26 HKD 1.5421 09 - Jan - 25 HKD 1.6913 JPY Class Md - - 09 - Jan - 25 JPY 1.5902 JPY Class Rd 09 - Jan - 26 JPY 1.3067 09 - Jan - 25 JPY 1.2627 SGD Class Cd 09 - Jan - 26 SGD 1.2375 - SGD Class Id 09 - Jan - 26 SGD 1.5132 09 - Jan - 25 SGD 1.6451 SGD Class Rd 09 - Jan - 26 SGD 1.4360 09 - Jan - 25 SGD 1.4918 SGD Class Wd 09 - Jan - 26 SGD 1.3690 09 - Jan - 25 SGD 1.5543 SGD Class W2d 09 - Jan - 26 SGD 1.0851 - USD Class Ad 09 - Jan - 26 USD 1.2689 09 - Jan - 25 USD 1.6536

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        "text": "Funds"
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        "text": "INTERIM REPORT AND UNAUDITED CONDENSED FINANCIAL STATEMENTS"
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        "page_number": 1,
        "text": "FOR THE PERIOD FROM 1 JANUARY 202"
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