Net Asset Value, Fund Update and Factsheet

ALTERNATIVE LIQUIDITY FUND LIMITED (the "Company")

(a closed-ended investment company incorporated in Guernsey with registration number 60552)

Final Net Asset Value & Factsheet

Share ISIN:                                            GG00BYRGPD65

Share SEDOL:                                       BYRGPD6

TIDM:                                                    ALF

LEI: 213800R5CHD76J3LU713

As at the close of business on 30 June 2025, the final Net Asset Value per share of the Company is as follows:

As previously announced, realisation of assets within the Company's portfolio since the end of June, together with the announcement of a distribution to shareholders of $18.99mln being equivalent to $0.13 (13 cents) a share, result in the June 30 NAV being significantly different to the current position. Therefore, in addition to publishing the June 30 NAV, the Board has taken the decision to provide an indicative NAV as at September 30 that incorporates changes to the underlying portlio over the past quarter.

The Board estimates that as at the close of business on 30 September 2025, the indicative Net Asset Value per share of the Company is as follows:

Note: the indicative quarterly performance for Sep 30 comprises the distribution to shareholders plus a slight uplift in the underlying portfolio value.

An analysis of the portfolio as at June 30 and September 30 2025 is provided in the quarterly factsheet which is now available on the Company's website,  please see the link below.

https://alternativeliquidityfund.com/fact-sheets-and-fund-updates/2025/

Please note that the fact sheet will contain the detailed portfolio update, the Board's observations and conclusions as indicated in the previous shareholder notification of September 22^nd.

The final September NAV will be published in due course.

Enquiries:

Hindsight Solutions Limited

Tim Gardner

DDI: +44 7917 630 460

Email: [email protected]

Apex Fund Services (Guernsey) Limited

Ross Wylie

DDI: +44 (0) 20 3530 3104

Email: [email protected]  

Note:

For the purposes of calculating the Net Asset Value of the Ordinary Shares, any indirect investments through underlying funds which are not quoted on a recognised investment exchange or other trading facility are valued at the values provided by the underlying managers or administrators or otherwise at fair value. These values may be unaudited or may themselves be estimates. In addition, these administrators or managers may not provide values at all or in a timely manner and, to the extent that values are not available, the NAV will be prepared on the basis of estimates provided by the Investment Advisor and agreed by the Administrator.