Final Results

Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, today announces its financial results for the three months ended December 31, 2025 ("4Q25") and the year ended December 31, 2025 ("FY25"). The full detailed presentation of Burford's 4Q25 and FY25 financial results, as well as a shareholder letter and detailed portfolio data table, can be viewed at http://investors.burfordcapital.com. The 4Q25 and FY25 financial results presentation is also available at http://www.rns-pdf.londonstockexchange.com/rns/5596U_1-2026-2-26.pdf.

Burford has filed its Annual Report on Form 10-K for the year ended December 31, 2025, including its audited consolidated financial statements (the "2025 Form 10-K"), with the US Securities and Exchange Commission. The 2025 Form 10-K can be viewed at http://investors.burfordcapital.com and is also available at http://www.rns-pdf.londonstockexchange.com/rns/5596U_2-2026-2-26.pdf.

On February 25, 2026, Burford's board of directors declared a final dividend for the year ended December 31, 2025 of $0.0625 per ordinary share to be paid, subject to shareholder approval at the 2026 annual general meeting, on June 12, 2026 to shareholders of record on May 22, 2026.

Christopher Bogart, Burford Capital's Chief Executive Officer, commented:

"We had a terrific 2025 for new business, with new definitive commitments up 39%. Portfolio modeled realizations1 increased $700 million to $5.2 billion at year end. In the part of our business where we have less influence - case progress and realizations - we brought in a substantial amount of cash, but our results were impacted by extended case durations and other unrealized fair value adjustments. The quality of the portfolio remains high, and we believe the future is bright in terms of growing the business and the potential for asymmetric upside value for shareholders."

Burford will hold a conference call for investors and analysts at 9.00am EST / 2.00pm GMT on Thursday, February 26, 2026. For swift access to the conference call at the time of the event, pre-registration is encouraged at https://registrations.events/direct/Q4I740130. The dial-in numbers for the conference call are +1 (646) 307-1951 (USA) or +1 (888) 500-3691 (USA & Canada toll free) / +44 (0)20 8610 3526 (UK) or +44 800 524 4258 (UK toll free), and the access code is 74013. To minimize the risk of delayed access, participants are urged to dial into the conference call by 8.40am EST / 1.40pm GMT.

1 Modeled realizations reflect expected future realizations from capital provision assets (excluding YPF-related assets) based on probabilistic modeling of portfolio and adjusted by an experience factor based on historical modeling accuracy rates. Modeled realizations calculation is derived from Burford's internal modeling of individual matters and of Burford's portfolio as a whole. These data are not a forecast of future results. See "Forward-looking statements", "Estimates and assumptions" and "Key performance indicators" for more information. See the full detailed presentation of Burford's 4Q25 and FY25 financial results for information on how modeled realizations are calculated.

Estimates and assumptions

This press release includes certain unaudited financial and business projections, targets and goals with respect to Burford's future outlook (collectively, the "Estimates"). The Estimates reflect subjective judgment in many respects and thus are susceptible to multiple interpretations and periodic revisions based on actual experience and business developments. As such, the Estimates constitute forward-looking information and are subject to many risks and uncertainties that could cause actual results to differ materially from the results forecasted in these projections, targets or goals. There can be no assurance that the Estimates will be realized or that actual results will not be materially higher or lower than forecast. The Estimates cannot, therefore, be considered a guarantee of future results of operations, and this information should not be relied upon as such. The inclusion of the Estimates in this press release should not be regarded as an indication that Burford or any of its affiliates, officers, directors, employees or representatives considered or considers the Estimates to be necessarily predictive of actual future events, and the Estimates should not be relied upon as such. The inclusion of the Estimates herein should not be deemed an admission or representation by Burford that its management views the Estimates as material information. Neither Burford nor any of its affiliates, officers, directors, employees or representatives has made or makes any representation to any of Burford's shareholders or any other person regarding the ultimate performance of Burford compared to the information contained in the Estimates or can give any assurance that actual results will not differ materially from the Estimates. BURFORD DOES NOT UNDERTAKE ANY OBLIGATION TO UPDATE OR OTHERWISE REVISE OR RECONCILE THE ESTIMATES TO REFLECT CIRCUMSTANCES EXISTING AFTER THE DATE THE ESTIMATES WERE GENERATED OR TO REFLECT THE OCCURRENCE OF FUTURE EVENTS, EVEN IN THE EVENT THAT ANY OR ALL OF THE ASSUMPTIONS UNDERLYING THE ESTIMATES ARE NO LONGER APPROPRIATE OR ARE SHOWN TO BE IN ERROR, EXCEPT AS MAY BE REQUIRED BY APPLICABLE LAW.

Key performance indicators

Burford uses certain unaudited key performance indicators ("KPIs"). The KPIs are presented because Burford uses them to monitor its financial condition and results of operations and/or Burford believes they are useful to investors, securities analysts and other interested parties. The presentation of the KPIs is for informational purposes only and does not purport to present what Burford's actual financial condition or results of operations would have been, nor does it project its financial condition at any future date or its results of operations for any future period. The presentation of the KPIs is based on information available as of the date of this press release and certain assumptions and estimates that Burford believes are reasonable.