The Board of Hipgnosis Songs Fund is providing an amendment to its Operative Net Asset Value (“Operative NAV“) following identification of an error due to the double counting of accrued revenue in the calculation of Operative NAV by Hipgnosis Song Management Limited (the “Investment Adviser”). This error results in a 7.6% reduction in the pro forma Operative NAV per Ordinary Share from $1.1657 (92.08 pence) as stated on 4 March 2024 to $1.0765 (85.03 pence).