Final closure of US$150 million fund

24 March 2020

Litigation Capital Management Limited

(LCM or the Company)

LCM completes final closure of US$150 million fund

Litigation Capital Management Limited (AIM:LIT), a leading international provider of disputes financing solutions, is pleased to announce the final closure of the LCM Global Alternative Returns Fund (the Fund). On 10 March 2020, LCM announced to the market a first closure of its third-party Fund at US$140 million.

The final US$10 million has now been subscribed by the asset management division of the large global investment bank which comprised one of the original cornerstone investors in the first closure. The subscription of that final US$10 million commitment brings the Fund to a close at US$150 million.

As previously announced, the Fund will be seeded with nine single case investments which include international arbitrations, class actions, commercial litigation and investor state treaty claims.

Patrick Moloney, CEO of LCM, commented: "The fact LCM has been able to close its first third party fund so soon after the initial announcement and in a market which is experiencing significant volatility is testament to its disciplined investment approach and the growing number of opportunities available to it."

"It demonstrates that sophisticated investors are seeking to invest in uncorrelated asset classes and in businesses which enjoy counter-cyclical characteristics."

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NOTES TO EDITORS

Litigation Capital Management (LCM) operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is fund and/or asset management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Corporate portfolio funding and Acquisitions of claims. LCM generates its revenue from both its direct investments and also performance fees through asset management.

LCM has an unparalleled track record, driven by effective project selection, active project management and robust risk management.

Headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018, trading under the ticker LIT.

www.lcmfinance.com