Result of ZDP Issue

PLEASE SEE THE SECTION ENTITLED "IMPORTANT NOTICE" TOWARDS THE END OF THIS ANNOUNCEMENT.

The Conygar Investment Company PLC (the "Company")

Conygar ZDP PLC (the "Issuer")

Result of ZDP Issue

Further to the announcement made on 28 September 2023, the Issuer is pleased to announce that it has raised gross proceeds of £15.0 million pursuant to a placing (the "Placing") and parent subscription (the "Parent Subscription" and together with the Placing the "Issue") of 15,000,000 zero dividend preference shares ("ZDP Shares") at a price of £1.00 per ZDP Share (the "Issue Price"). Further details will be provided in the listing document (the "Listing Document") expected to be published by the Issuer on 3 October 2023. The Parent Subscription amounted to a total of 10 million ZDP Shares as part of the Issue.

The ZDP Shares have a life of five years and a final capital entitlement of 153.86 pence per ZDP Share on the 4 October 2028 (the "ZDP Repayment Date"), equivalent to a gross redemption yield of 9.0 per cent. per annum on the Issue Price.

Admission and dealings

Applications will be made to The International Stock Exchange for the ZDP Shares issued pursuant to the Issue to be admitted to the Official List of The International Stock Exchange ("Admission"). It is expected that Admission will become effective at 8.00 a.m. on 4 October 2023. The ISIN number of the ZDP Shares is GB00BMGBHD21 and the SEDOL code is BMH6RG9. It is expected that CREST accounts will be credited as soon as reasonably practicable after 8.00 a.m. on 4 October 2023 in respect of ZDP Shares issued in uncertificated form and that definitive share certificates in respect of ZDP Shares held in certificated form will be despatched by post within 10 business days of Admission.