The Board of Hipgnosis, the first and only UK investment company offering investors a pure-play exposure to songs and associated musical intellectual property rights, is pleased to announce that the Company intends to raise up to £250 million by way of a placing of new Ordinary Shares (the “Placing”) at a price of 116 pence per Ordinary Share (the “Issue Price”).

In conjunction with the Placing, there will be an offer made on the PrimaryBid platform of new Ordinary Shares at the Issue Price (the "Retail Offer") (together with the Placing the "Issue") to provide retail investors with an opportunity to participate in the equity fundraising alongside institutional investors. A separate announcement will be made shortly regarding the Retail Offer and its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing.