CIP.L Regulatory News (CIP)

5 March 2019

CIP MERCHANT CAPITAL LIMITED

("CIP Merchant Capital" or the "Company")

Further Investment in Orthofix

CIP Merchant Capital is pleased to announce that it has acquired a further 2,500 shares in Orthofix Medical Inc. (formerly Orthofix International N.V.) ("Orthofix"), a NASDQ listed medical devices company, for a total consideration of approximately US$0.15 million.

Following the acquisition, CIP Merchant Capital is now interested in 97,000 shares of Orthofix.

In the year ended 31 December 2018 Orthofix had net income of US$13.8 million and as at 31 December 2018 had net assets of US$335.4 million.

For further information, please contact:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.