CQS Natural Resources Growth and Income PLC
(the "Company")

LEI: 549300ES8CNIK2CQR054

23 March 2026

Service of Protective Notice

Further to the announcement by the Company on 9 March 2026 concerning its investment management arrangements, the Board announces that the Company has agreed six months' protective notice with its investment manager, CQS (UK) LLP, part of the Manulife group ("CQS"). If formal notice of termination is served by the Company prior to 30 June 2026, the six months' notice period, as per the Investment Management Agreement, will be deemed to have started on 13 March 2026.

The Company continues to consider a number of options at its disposal. In the meantime, during Keith Watson's and Robert Crayfourd's notice period, CQS have engaged two senior Manulife Investment Management Group portfolio managers, Diana Racanelli and Craig Bethune, to work together with Keith and Robert in the management of the portfolio. Keith Watson and Robert Crayfourd will remain the named Portfolio Managers and there is no change to the Company's investment process, strategy or operations. 

Taking this action is in the best interests of shareholders as the Company continues to explore its options for the long term. A further update will be provided in due course.

Diana Racanelli and Craig Bethune, based in Toronto, are senior portfolio managers at Manulife Investment Management, have been with Manulife for the past 12 years, and together manage USD415 million in metals and mining, and energy assets together with a further USD1,238 million in metals & mining and resources exposure in team managed assets.

About CQS Natural Resources Growth and Income PLC

CQS Natural Resources Growth and Income plc (LSE: CYN) is an investment company focused on providing shareholders with capital growth and income from a portfolio of mining and resource equities and mining, resource, industrial and other fixed interest securities (including convertible securities and bonds).

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