Marwyn Val. Regulatory News (MVI)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO

LEI: 213800L5751QTTVEA774

15 January 2026

Marwyn Value Investors Limited

Net Asset Value per Ordinary Share

The board of directors of Marwyn Value Investors Limited (the "Company") today announces that the estimated net asset value ("NAV") per ordinary share of the Company based on the estimated value of its interests in Marwyn Value Investors L.P. is £2.60619 as at 31 December 2025. As at 31 December 2025, there were 55,490,360 ordinary shares and 30,970,984 exchange shares in issue.

As at 31 December 2025 the closing mid share price of an ordinary share in the Company was £1.39500 and represented a discount of 46.47% to the NAV per ordinary share.

Historic NAV Performance

NAV Allocation

Based upon the Company's indirect investments, the estimated allocation of the ordinary share NAV is:

Notes

1The inception to date movement is based on the combined weighted average NAV of Marwyn Value Investors I, II and B shares prior to their amalgamation, using the conversion ratio published on 17 April 2008.

2The total return inception to date movement is based on the reinvestment of dividends paid to shareholders into the Company and is calculated on a cum-income basis.

3Portfolio investments are held at fair value in accordance with International Financial Reporting Standards ("IFRS"). Quoted investments with sufficient volume and frequency of trading to constitute an 'active market' under IFRS are held at their listed price on the valuation date. Unquoted investments, and quoted investments where there is no active market, are valued in accordance with International Private Equity and Venture Capital guidelines on a quarterly basis or whenever there is a material change in the investment which would indicate a significant change in valuation.

4The investment in Le Chameau is held through Silvercloud Holdings Limited ("Silvercloud"), with the value allocated to Le Chameau being the value attributable to each share class of Marwyn Value Investors L.P.'s investment in Silvercloud.

Shares in the Company are not designed or intended for retail investors. Marwyn Investment Management LLP, the Manager, does not promote shares in the Company to retail investors and they should not be offered to retail investors.

Enquiries to:

Marwyn Value Investors Limited

Scott Danks

scottdanks@marwyn.com

Company secretary - Palmer Fund Services (Jersey) Limited

marwyn@palmerfs.com

1 Grenville Street

St Helier

Jersey JE2 4UF