Hipgnosis Songs Fund Results Presentation Deck

Estimated currency impact Limited direct impact with 88% of receipts received in US Dollars Approximately 46% of source revenue is non-US Dollar denominated Biggest non-US markets are UK (14%) and Eurozone (21%) Source income by geography 14% UK 54% US Hipgnosis Songs Fund Estimates 21% Continental Europe 11% RoW Sterling: Dollar Euro: Dollar Yen: Dollar " HIPCNOSIS SONGS FUND Average Average Change H1 on H1 Change Q2 on Q2 H12022 H12021 1.298 1.388 6.9% 11.1% 1.093 1.205 10.2% 13.0% 0.00814 0.00928 14.1% 18.4% ESTIMATE CURRENCY IMPACT circa 4 PERCENTAGE POINTS 16

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