Drawdown of Convertible Loan Note Facility

Trafalgar (AIM:TRAF), the AIM quoted residential and assisted living property developer, announces that further to the Company's announcement on 16 July 2025 regarding the proposed issue to Wager Holdings Limited ("Wager") of up to 150,000 unsecured, interest-free £1 convertible loan notes (the "Wager CLN") to fund working capital, Trafalgar announces that it has today drawn down 100,000 Wager CLNs for gross proceeds of £100,000.

The drawdown has been made on the terms described in the 16 July 2025 announcement, including (among other things): (i) maturity on or before 31 December 2025; (ii) interest-free and unsecured; (iii) convertible at £0.0001 per Ordinary Share; and (iv) transferable and unquoted. Any conversion remains subject to the restriction that, immediately following conversion, Wager (together with persons acting in concert, as defined in the Takeover Code) shall not hold 29.9% or more of the Company's voting rights, subject to limited exceptions.

Use of proceeds

The proceeds will be applied primarily to the Group's working capital requirements.

Facility headroom

Following this drawdown, £50,000 of the £150,000 Wager CLN facility remains available to be drawn.

Admission and total voting rights

No new Ordinary Shares are being issued in connection with this drawdown. The Company's issued share capital is therefore unchanged. A further announcement will be made in due course should any CLNs be converted into new Ordinary Shares.

As Wager Limited is a substantial shareholder in the Company, the issue of the CLN constitutes a related party transaction under Rule 13 of the AIM Rules for Companies. The Directors of Trafalgar, all of whom are independent in respect of the related party transaction, having consulted with SPARK, the Company's Nominated Adviser, consider that the issuance and terms of CLN are fair and reasonable insofar as the Company's Shareholders are concerned.