Conditional Sale of Subsidiaries

Richmond Hill (AQSE: SHNJ), is pleased to announce that further to the announcement of 3 February 2025, the Company has entered in a binding term sheet with respect to the sale of Shinju Whiskey LLC and Shinju Spirits Inc., to Intergen I Limited Partnership ("Intergen I"). The consideration for the sale will be £10,000. As previously stated in the Company's Notice of General Meeting dated 3 February 2025, the Company will be seeking approval from shareholders for the disposal of these last two remaining subsidiaries, that will also be subject to the publication of an AIM admission document. A further announcement will be made in due course.

Intergen I is 50% owned by Ryan Dolder, Chief Executive Officer of the Company, and therefore the sale to Intergen I constitutes a related party transaction pursuant to the Aquis Growth Market Access Rulebook. Having considered the terms of the sale, and having exercised reasonable care, skill and diligence, Hamish Harris, the independent Director for the purpose of the sale to Intergen I, considers that Ryan's participation is fair and reasonable insofar as the shareholders of the Company are concerned.

The directors of the Company accept responsibility for the contents of this announcement.