The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than to professional investors in Belgium, Denmark, the Republic of Ireland, Luxembourg, the Netherlands, Norway and Sweden), Canada, Australia, Japan or the Republic of South Africa.

01 February 2022

Chrysalis Investments Limited (the "Company")

Portfolio Update

The Company is pleased to confirm that the sale of its shareholding in Embark Group Limited to Scottish Widows Group Limited, a subsidiary of Lloyds Banking Group plc has now completed. The Company has received net cash proceeds of £57.2m for the sale, which represents a cash-on-cash return of 2.1x from the date of the Company's initial investment in July 2019. 

Nick Williamson and Richard Watts, co-portfolio managers, commented:

"Following last year's IPO of Wise, this transaction represents a further realisation from the portfolio. We are delighted with the outcome of this transaction which we believe is a fantastic result for our shareholders. 

We would like to thank the management team at Embark for their hard work during this transaction and wish them and the team at Lloyds good luck with the integration of the Embark business."  

-ENDS-

LEI: 213800F9SQ753JQHSW24

A copy of this announcement will be available on the Company's website at http://chrysalisinvestments.co.uk. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements.

Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These factors include but are not limited to those described in the formal Prospectus. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.