12 February 2026 · Corporate Update

Q1 2026 group review — art advisory and publishing revenue performance

The Board of Directors of Kashmir Limited has conducted its Q1 2026 group review at the group’s Larnaca headquarters, assessing performance across all investment verticals. The review covered publishing, hospitality, media, and cultural investments, with a particular focus on the art advisory division’s collection growth and the publishing segment’s revenue trajectory.

The Cultural Investments division reports strong collection growth, with positive independent valuation trends confirmed across the portfolio. The division’s gallery partnerships and institutional relationships continue to provide access to high-quality acquisition opportunities. The Board noted the division’s increasing maturity as a professionally managed investment vertical.

Publishing operations under Altenberg Sp. z o.o. are exceeding revenue targets, with the ALT.PL distribution integration delivering continued operational improvements and margin enhancement. The Board reviewed the expanding author portfolio and confirmed that the catalogue expansion strategy approved in late 2024 is progressing according to plan.

“The diversification of our portfolio across publishing, hospitality, media, and cultural investments provides a resilient foundation for continued European growth,” noted the Board in its review summary. Capital allocation across all verticals was reviewed and adjusted to reflect current performance and strategic priorities for the remainder of 2026.