Navigating Storms, Delivering Solid Results: Our First Half of 2025

Navigating Storms, Delivering Solid Results: Our First Half of 2025 The first half of 2025 has tested investors worldwide. Geopolitical tensions, persistent inflationary pressures, and volatile global markets have created an environment where consistency has been difficult to achieve and true outperformance even harder. Yet it is precisely during these phases that disciplined investment strategies reveal their value. A Market Environment Defined by Complexity The past six months can reasonably be described as a period of global instability. Financial markets have had to absorb overlapping shocks — from geopolitical uncertainty and shifting monetary policies to sudden changes in risk sentiment. In such an environment, remaining invested is not enough. Navigating volatility requires clarity of process, disciplined execution, and the ability to distinguish noise from structural opportunity. Performance That Reflects Method, Not Momentum At Income Capital Management, we do not aim to react to markets — we aim to understand them, structure around them, and outperform them through disciplined strategy. As we close the first half of 2025, the results of this approach are clearly visible: June 2025: +3.45% Q2 2025: +12.00% Year-to-Date (Jan–Jun 2025): +32.03% Cumulative since April 2024: +62.08% These figures refer to the Aggressive Investment Level of our flagship Forex strategy. As always, it is important to note that past performance is not indicative of future results. Why These Results Matter Outperformance in a strong market can be attributed to momentum. Outperformance in a fragile and uncertain market, however, reflects structure, risk control, and execution. Our results are the outcome of: A proprietary FX strategy built on active market analysis Disciplined risk management and exposure control Flexibility in adapting to rapidly changing market conditions Continuous focus on capital protection alongside return generation While many investors struggled to remain invested amid volatility, our strategy maintained coherence and direction. Conviction Over Noise Periods dominated by political headlines, central bank speculation, and short-term market reactions often tempt investors to abandon strategy in favor of emotion. We believe the opposite approach is required. In complex environments, capital seeks conviction, consistency, and process — not narratives. This philosophy has guided our decisions throughout the first half of 2025 and continues to shape our outlook for the months ahead. A Message to Investors To our investors, we extend our sincere appreciation for your continued trust. Your confidence allows us to execute strategies with discipline and long-term perspective. For those observing from the sidelines, this period serves as a reminder that sustainable performance is built through method, not speculation. A performance comparison chart related to this update is available on LinkedIn at the following link: View the performance update on LinkedIn As markets continue to evolve, our commitment remains unchanged: protecting capital, managing risk, and delivering consistent, transparent results.

UAE Removed from the EU Blacklist: A Turning Point for Global Investors

UAE Removed from the EU Blacklist: A Turning Point for Global Investors The recent decision by the European Union to officially remove the United Arab Emirates from the EU blacklist of non-cooperative jurisdictions marks a significant milestone for global financial markets. This development reinforces the UAE’s position as a credible, transparent, and internationally aligned financial hub, strengthening confidence among institutional investors, asset managers, and private clients worldwide. A Regulatory Milestone with Concrete Implications The EU decision reflects years of regulatory progress by the UAE in aligning with global financial standards, particularly in areas such as: Anti-money laundering (AML) frameworks Counter-terrorism financing (CTF) controls Transparency and investor protection International regulatory cooperation From an investment perspective, this step materially reduces regulatory friction and jurisdictional risk, making UAE-based structures more accessible and attractive to European and international investors. What This Means for Asset Management and Private Funds For asset managers and fund sponsors, the removal from the EU blacklist has immediate operational and strategic relevance. It simplifies cross-border capital flows, improves banking relationships, and enhances the credibility of UAE-based investment vehicles, particularly in: Alternative investments Private funds Forex-based strategies International portfolio structures Most importantly, it strengthens investor confidence by confirming that the UAE operates within a globally recognized regulatory framework. Income Capital Management’s Perspective At INCOME CAPITAL MANAGEMENT, this decision further validates our long-standing commitment to building secure, compliant, and transparent investment structures rooted in international best practices. Our presence in the region has always been guided by a clear objective: offering investors regulated access to global opportunities, while maintaining rigorous standards of governance, reporting, and risk management. The EU’s decision supports this vision and creates an even stronger foundation for institutional adoption of UAE-based investment strategies. Looking Ahead As global investors increasingly prioritize regulatory clarity and jurisdictional stability, the UAE continues to position itself as a strategic gateway between Europe, the Middle East, and global capital markets. We see this milestone not as an endpoint, but as part of a broader evolution toward a more connected, transparent, and resilient global financial system. For those interested in the original announcements and discussion, the related LinkedIn updates can be viewed here: EU decision on UAE LinkedIn post – Income Capital Management commentary In an environment where regulation and trust increasingly define investment success, developments like this matter — and they matter a lot.

Forex Traders Summit Dubai 2025: Market Dialogue, Strategy and Professional Exchange

Forex Traders Summit Dubai 2025: Market Dialogue, Strategy and Professional Exchange On 14th and 15th May 2025, Income Capital Management will be present at the Forex Traders Summit 2025, held at the Festival Arena in Dubai. The event represents one of the most relevant international meeting points for professionals operating across FX trading, asset management, brokerage, and financial technology. In a global market environment characterized by evolving monetary policies, geopolitical uncertainty, and rapidly changing liquidity conditions, direct dialogue between market participants remains a critical component of informed decision-making. An International Platform for Market Insight The Forex Traders Summit brings together traders, portfolio managers, brokers, fintech providers, and institutional investors from different regions. Its value lies not only in scheduled panels and market updates, but also in the exchange of practical experience, strategies, and operational perspectives among professionals actively engaged in the FX and investment industry. Topics typically addressed during the event include: Developments in global FX markets and macroeconomic trends Risk management frameworks in volatile market phases Trading strategies across different liquidity environments Technology and infrastructure supporting modern FX operations Income Capital Management’s Approach Participation in events such as the Forex Traders Summit reflects Income Capital Management’s ongoing commitment to maintaining a disciplined, informed, and globally connected investment process. Engaging directly with market participants allows us to continuously test assumptions, compare methodologies, and refine our approach to portfolio construction and risk control. While market data and analytics remain essential, professional dialogue and on-the-ground insights often provide additional context that cannot be fully captured through models alone. Professional Exchange Beyond the Agenda Beyond formal sessions, the summit offers an opportunity for direct professional exchange. If you are attending the event or will be in Dubai during the same period, we welcome the opportunity to connect and exchange perspectives. For reference, the original LinkedIn announcement can be viewed here: Forex Traders Summit Dubai 2025 – LinkedIn post We look forward to an intense and insightful week of discussion, learning, and professional interaction within the global FX and investment community.

INCOME CAPITAL FOREX FUND – Questions & Answers (April 2024)

INCOME CAPITAL FOREX FUND – Questions & Answers (April 2024) What is the INCOME CAPITAL FOREX Fund? The INCOME CAPITAL FOREX Fund is an investment fund managed by INCOME CAPITAL MANAGEMENT s.r.o. that operates in the global foreign exchange (FX) market. Its objective is capital appreciation through active currency trading using a structured and risk-controlled approach. What does the Fund invest in? The Fund trades major currency pairs, primarily: EUR/USD EUR/GBP GBP/USD Trading activity is focused on liquid FX markets, allowing efficient execution and continuous risk monitoring. What is the investment objective of the Fund? The objective is to generate returns through active forex trading while applying disciplined risk management. The Fund does not aim to guarantee profits and does not eliminate market risk. What type of strategy does the Fund use? The Fund adopts an active trading strategy with a scalping-oriented approach, meaning it takes advantage of short-term price movements in the currency markets. Investment decisions are supported by: Fundamental analysis (macroeconomic data, interest rates, geopolitical events) Technical analysis (price patterns, market behavior) Technology-supported execution systems Does the Fund use Artificial Intelligence? Yes. The Fund uses AI and algorithmic tools to support market analysis and trade execution. AI is used to: Analyze large datasets of historical and live market data Identify patterns and market signals Support decision-making and execution efficiency AI does not operate independently and is always subject to human oversight and risk controls. Who manages the Fund? The Fund is managed by professional fund managers supported by financial analysts, automated trading systems (Expert Advisors), and risk management and compliance teams. Human supervision remains central to the investment process. What is the risk level of the Forex Fund? The Forex Fund has a medium-to-high risk profile. Foreign exchange markets are volatile, and losses can occur, including partial or total loss of invested capital depending on the investment level chosen. What are the main risks involved? Key risks include: Market and volatility risk Currency risk Liquidity risk Technological and system risk Operational and regulatory risk Investors should carefully assess their risk tolerance before investing. How does the Fund manage risk? Risk management measures include position sizing rules, stop-loss mechanisms, continuous monitoring of market exposure, diversification of trading positions, and compliance with regulatory standards. Risk is actively managed but cannot be eliminated. Are there different investment levels? Yes. The Fund offers four investment levels: Conservative – lower risk, partial capital protection, lower return range Mild-Conservative – balanced approach between risk and protection Mild-Aggressive – higher risk with higher potential returns Aggressive – highest risk and highest return potential Each level has a defined expected return range and capital protection structure, where applicable. Is capital guaranteed? Capital protection depends on the selected investment level. Some levels offer partial capital protection, while others are fully exposed to market risk. Capital is never fully guaranteed. How often are returns updated? Returns are updated weekly for the Forex Fund. Performance is calculated based on the working amount invested. Returns may vary depending on market conditions. What fees apply to the Forex Fund? There are no entry fees and no fixed management fees. A performance fee is applied only on realized net profits. Compliance-related onboarding costs (KYC/AML) are borne by the investor. Can an investor exit before maturity? Yes. Early exit is possible under predefined conditions. Fees or penalties may apply depending on the investment level, duration of the investment, and timing of the withdrawal. Details are specified in the official documentation. Who can invest in the Forex Fund? The Fund is intended for investors who understand financial markets and FX trading risks, are comfortable with medium-to-high risk investments, and have a medium to long-term investment horizon. The Fund may not be suitable for all investors. Is the Fund regulated? Yes. INCOME CAPITAL MANAGEMENT s.r.o. operates under the supervision of the Czech National Bank, in accordance with applicable regulations. All investors are subject to KYC, AML, and PEP checks. How is transparency ensured? Transparency is ensured through regular performance reporting, access to investment data via the private client area, dedicated investor support, and clear documentation outlining risks, fees, and strategy. Where can investors find official documentation? Official documentation, including the KID, is provided during onboarding and is available upon request from INCOME CAPITAL MANAGEMENT. Is this information investment advice? No. This information is provided for educational and informational purposes only and does not constitute investment advice. Investors should seek independent professional advice before making any investment decision.