Dear Team Spirit

We commenced 2026 on a high note, carrying with us the knowledge that 2025 had been a great year for our group in all its various facets. This confidence obviously drove us forward as we grasped all tasks with enthusiasm, drive and purpose.

The corporate aspects of the group, which are managed via Spirit Invest Africa (Finance, Operations, Marketing and Compliance), Orion Wealth Managers (Warwick, Appleton, Infiniti and Silverthorn, all of our wealth management companies) and Orion Investment Managers (Cadiz, Accorn, Starfunds.ai, Palmyra, Investin and Capita, all our asset management companies) all performed optimally and with great positive energy.

SPIRIT INVEST AFRICA (SIA)

I wish to thank my SIA CFO, Tiaan Meyer, for his professional custodianship of this entity.

The 2026 Annual Audits for our nine FSP's were completed and all were given clean Audit Reports. In particular, our thanks go to Leo in making this all happen on time.

I am particularly pleased to report that for Q1 – all group companies achieved their respective budgets for the quarter.

We cannot operate as a world-class financial group without the required infrastructure and so it is good to see the long awaited Knysna Office renovation commencing. The office is a Knysna landmark and will be even more prominent when completed.

Likewise, we need to remain at the cutting edge of innovation, so it was highly pleasing to see the Warwick Wealth App rolled out to great success under Ryan and Operations.

ORION WEALTH MANAGERS (OWM)

As ever, managed by EXEC member and CEO, Marc Wiese, OWM enjoyed an excellent Q1.

In an important development, this quarter saw the official launch of Infiniti Wealth, our latest wealth management company, offering superb opportunities for particularly large, independent brokers in SA. Infiniti is now up and running, with its first deal signed and clients from that deal flowing into the group. With numerous other deals lined up by M&A, for Q2 and the remainder of the year, Infiniti is now poised and ready to have a positive impact in 2026.

Silverthorn Employee Benefits was also officially launched in Q1 by Marc and operates under the management of Jason Lubbe, who has successfully ensured the onboarding of our first clients into the fully approved Silverthorn investment range. We look forward to ongoing impressive growth in Q2 and for the remainder of 2026.

Mergers and Advisory (M&A) also achieved a solid Q1, beating its targets and setting itself up for a successful Q2 and H2. We meet hundreds of brokers each year and explain our different offerings to them, so the momentum this builds for the group via new deals and opportunities, is immense and continues to drive the whole group forward.

Appleton continued its solid performance, offering the most exclusive and personal fiduciary services in SA. For the Fiduciary Specialists, it’s all about the family and working tirelessly to deliver great service, so it is well done to Lauren and her Team.

Warwick Wealth, managed for Marc by EXEC member and Director, Connor Kilbride, achieved an impressive first quarter. In Gauteng, Warwick Wealth’s new RM, Craig Holmes, has done an excellent job of making the region his own in Q1.

Take On, which is actually a business element within OWM should be acknowledged here for the quality and volume of work the team is delivering on behalf of Warwick Wealth. Mike van der Westhuizen has taken over the baton from Connor in this area and he is doing a great job in developing it still further.

The new Warwick Wealth app has been exceptionally well received by our clients and its uptake and use generally is growing constantly. I strongly encourage everyone to use the app for an ever improving experience of what it means to be part of the Warwick Wealth family.

I would also like to welcome all of Warwick Wealth’s new business partners who joined the Warwick Wealth Team in Q1. I believe you have chosen the best business solution available to IFAs in SA.

ORION INVESTMENT MANAGERS (OIM)

Under the management of EXEC member and MD, Adrian Meager, the following points from Q1 are all well worth noting.

The new Capita BCI Global Equity Fund of Funds was launched and was included within in the Warwick Momentum model portfolios. The inclusion of the fund in the other model portfolios is now well underway.

OIM also added seven OIM funds on the SYGNIA platform and launched the SYGNIA model portfolios for the benefit of our partners and clients.

OIM funds were also loaded and launched at Discovery Invest and we commenced rolling out our Warwick Wealth Discovery models.

The first Infiniti Wealth models were launched on various SA platforms for our first Infiniti Wealth partner.

The OIM team also wishes to thank and say well done to the entire OWM team under Marc and acknowledge the huge inflows of AUM from OWM - South Africa’s largest private wealth distribution business.

Having now covered all of our corporate activity in Q1, I now wish to look at the Spirit philanthropic activities during the same period.

SPIRIT FOUNDATION (SF)

The Spirit Foundation’s EXEC member and MD, Wendy De Sousa, is overseeing our general pivot of Education and Community into Bonnievale over the next few years.

As a result, the Spirit Foundation recently undertook a strategic restructuring and programme consolidation process. This initiative included a comprehensive evaluation of all programmes to ensure alignment with the foundation’s long-term vision and impact objectives.

Education programmes have consequently been formally ringfenced, enabling a more focused and effective delivery model. This has allowed the Cape Town and Bonnievale operations to function independently, ensuring that each region is managed according to its specific needs, context and priorities.

Pleasingly, all Community programmes continue to run smoothly and are delivering against their objectives.

Within the Wildlife programme, all planned projects for 2026 have been finalised, approved, and are currently well underway, demonstrating strong momentum and execution.

After 32 years, the Spirit Foundation continues to evolve and maximise its potential impact. It’s easily recognisable slogan, ‘JUST DO GOOD’, is now core to all, including our vision, our marketing and view of the world.

Finally, thank you all for taking the time to read this Spirit Insider publication and I am sure you will enjoy the following features from across the group and from around the country.

Regards