Net Asset Value(s)

MENHADEN RESOURCE EFFICIENCY PLC

LEI: 2138004NTCUZTHFWXS17

NET ASSET VALUE

The estimated un-audited net asset value per share for Menhaden Resource Efficiency PLC, calculated in accordance with the guidelines of the Association of Investment Companies, at the close of business on 24 March 2025 was 171.28p (cum income).

The unaudited NAV above includes the impact of £0.7m in accrued liquidation costs. An estimated further cost of circa £0.2m has not yet been reflected. This is in line with the total £0.9m cost estimate stated in the previous announcements to date.

For and on behalf of the Board

Frostrow Capital LLP

Secretary

25 March 2025