Hipgnosis Songs Fund Results Presentation Deck

Leverage Loan interest ($'m) Gross debt at 30 Sept ($'m) Net debt at 30 Sept ($'m) Debt as percentage of Operative NAV Leveraged free cash flow ($'m) Interest costs driven by rise in US interest rates New 5-year, $700 million Revolving Credit Facility with interest rate hedge agreed 6 months to Sept 2022 14.5 607.0 570.6 25.5 30.5 6 months to Sep 2021 10.0 600.0 550.9 26.4 31.9 " HIPCNOSIS SONGS FUND Change % (44.7) (1.2) (3.6) 0.9 (4.4) 19

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