Share Buyback Programme

Crystal Amber Fund announces that it intends to conduct on-market purchases under a share buyback programme to repurchase ordinary shares of 1 penny each in the capital of the Company ("Ordinary Shares"), up to an aggregate amount of £5 million, pursuant to the authority obtained at the Company's annual general meeting on 22 November 2023 (the "Buyback").

The purpose of the Buyback is to reduce the share capital of the Company and return cash to shareholders. In addition, the Board of Crystal Amber Fund notes that the price of Ordinary Shares is currently significantly below the last reported net asset value per share of 98.3 pence and believes that the Buyback programme will help reduce this discount by providing an exit mechanism for shareholders and reducing the volatility of the share price. The Buyback will be funded from the Company's existing surplus cash resources and all Ordinary Shares purchased will be cancelled. The Company intends to operate the Buyback from the date of this announcement until 31 January 2024.

As at the time of this announcement, the Company's total issued share capital consists of 99,749,762 Ordinary Shares, of which 16,518,762 Ordinary Shares are held in treasury, and therefore, the total number of Ordinary Shares carrying voting rights is 83,231,000.

The above figure of 83,231,000 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.