Update on Covenant Waiver, Case & Strategic Review

Summary by AI ^BETAClose X

Litigation Capital Management Limited has secured an extension of its debt covenant waiver from Northleaf until June 30, 2026, with the existing 2.00% per annum interest increase remaining in effect without an additional waiver fee. The company also reported negative developments in two case investments, representing approximately A$9 million of invested capital, which are expected to result in material write-downs in upcoming financial statements. These events occur as the company's strategic review, initiated in September 2025, continues, with the waiver extension demonstrating Northleaf's ongoing support during LCM's efforts to resolve its capital position.

Disclaimer*

Litigation Capital Management Ltd

01 June 2026

1 June 2026

Litigation Capital Management Limited

("LCM" or the "Company")

Covenant Waiver Extension, Case Updates and Strategic Review

Litigation Capital Management Limited ("LCM"), an alternative asset manager specialising in dispute financing solutions internationally, announces that the debt covenant waiver from Northleaf that was due to expire on 30 May 2026 has been extended to 30 June 2026. During the extended waiver period the interest on the loan remains increased by 2.00% per annum consistent with the initial waiver. There is no additional one-time waiver fee in relation to this extension.

LCM has recently received negative developments in relation to two of its case investments. These two matters have a combined LCM invested capital of approximately A$9 million. Management is reviewing these matters and expects to recognise material write-downs in relation to these investments in its next set of financial statements.

The Strategic Review that was first announced on 15 September 2025 continues to progress and the waiver extension is reflective of Northleaf's ongoing support while LCM works towards a long-term resolution of its capital position. Management will provide an update on the progress of the Strategic Review in due course.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Enquiries

Litigation Capital Management
Patrick Moloney, Chief Executive Officer David Collins, Chief Financial Officer

Cavendish (Nomad and Broker)	Tel: 020 7220 0500
Jonny Franklin-Adams and Isaac Hooper (Corporate Finance) Ella Bedford (Corporate Broking)

www.lcmfinance.com

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