Sale of Bluewater Bio Limited

Summary by AI ^BETAClose X

Schroders Capital Global Innovation Trust plc has announced the sale of its underlying portfolio company, Bluewater Bio Limited, through its holding in the Salica Environmental Technology Fund. This exit is expected to generate a distribution of £6.5 million to the Company, representing a significant realization event as part of the ongoing wind-down process approved by shareholders in February 2025. The sale's financial impact is anticipated to be in line with the Company's Q3 2025 Net Asset Value, with no material change expected to the most recently published NAV. The Board intends to make a further return of capital to shareholders later this year, reflecting this and other realisations.

Disclaimer*

Schroders Capital Gbl Inn Tst PLC

20 January 2026

Schroders Capital Global Innovation Trust plc

Sale of Bluewater Bio Limited

Schroders Capital Global Innovation Trust plc (the "Company" or "INOV") is pleased to announce that its holding of the Salica Environmental Technology Fund ("SETF"), previously HP Environmental Technologies Fund LP ("HPET"), has completed the sale of its underlying portfolio company, Bluewater Bio Limited ("Bluewater Bio") to a European PE backed strategic acquiror. The expected distributions from the exit are in line with the valuation indicated in the Company's Q3 2025 NAV and, subject to confirmation of timing, the Manager does not expect the transaction to result in any material change to the Company's most recently published NAV.

In December 2020, the Portfolio Manager structured an option to allow the Company to retain exposure to the underlying portfolio of Ombu Group Limited ("Ombu") and its future value creation potential, whereby the Company elected to contribute its shareholding in Ombu in return for a partnership interest in HPET.

This latest sale is part of the ongoing process of selling the assets and wind down of the Company that began in February 2025. It is the Board's intention to make a further return of capital to shareholders later this year, reflecting the realisations, including this one, up to that point. To receive email notifications from the Company in relation to distributions of capital to shareholders, please register using the following link: https://www.schroders.com/inovcomms

All unquoted holdings, including the impact of this transaction, will be reviewed and finalised as part of the Company's FY25 Annual Report and Accounts.

Tim Creed, Lead Portfolio Manager, and Harry Raikes, Co-Portfolio Manager commented: "We would like to congratulate the management teams at Bluewater Bio and Salica on this transaction. The acquisition represents one of the final exits from SETF generating a total multiple of invested capital from the fund of 2.8x, with the potential to increase to 2.9x with the full impact of potential earnouts. As a ~5% holding, this exit is a significant realisation event for INOV, with a distribution of £6.5m due to the Company as part of the wind down approved by shareholders in 2025."

Enquiries:

Schroder Investment Management Limited

Francesca Davis / Katherine Fyfe (Company Secretary) 020 7658 6000

Charlotte Banks / Kirsty Preston (PR) 020 7658 6000

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