Hipgnosis Songs Fund Results Presentation Deck

Net Asset Value Operative NAV ($'m) Operative NAV per share ($) GBP Operative NAV per share (pence) As at 30 Sept 2022 2,218 OPERATIVE NET ASSET VALUE STABLE 1.8312 164.06 As at 31 Mar 2022 2,240 1.8491 140.79 " HIPCNOSIS SONGS FUND Change % (1.0) (1.0) 16.5 Based on GBP:USD of 1.2223 as at 6th December 2022, Operative NAV per share is 149.82p 12

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