Hipgnosis Songs Fund Results Presentation Deck

Operative Net Asset Value Bridge $1.85 Opening Operative NAV per Ordinary Share $0.03 Profit After Tax excluding amortisation and impairment of Catalogues ($0.018) Decrease in Fair Value of Catalogues ($0.016) Dividends Paid ($0.015) Dividends Declared not yet paid " HIPCNOSIS SONGS FUND $1.83 Closing Operative NAV per Ordinary Share 13

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