Top 20 portfolio company funding round

596/2014) WHICH FORMS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

IP Group plc - Top 20 portfolio company funding round

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, notes its participation today in a follow-on portfolio company funding round, for which it anticipates recording a net unrealised fair value gain of approximately £40m* or 4p per share.

IP Group has committed a total of US$15m (£11.8m*) to the funding round. Completion of the transaction is subject to certain conditions and is due to occur in mid-January 2024. Further information on the funding round, which has been supported by both existing and new investors, will be provided in due course.

The Group's directors are currently reviewing the carrying values of all assets in the portfolio as part of the usual year-end process. While it is too early to provide guidance as to the carrying values of the Group's portfolio companies, they currently anticipate that the gain relating to this investment will be offset by other fair value reductions in the portfolio.

*GBP equivalent using 1.26 USD/GBP