21 September 2022

EIGHT CAPITAL PARTNERS PLC

("Eight Capital" "ECP" or the "Company")

UNAUDITED HALF-YEARLY REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2022

Eight Capital Partners plc (AQSE: ECP), announces its half-yearly results for the half year ending 30 June 2022.

Chairman's Half-Yearly Report

This report, covering the first six months of 2022, is the first half-yearly report that the Company has given the market since becoming an operating Group just over a year ago, and one aspect you will note is that there is no comparative Income Statement for the equivalent six months of 2021. This is because the two periods cannot be realistically compared. What you will see as a comparative, however, are the results for the 12 months to 31 December 2021 and these half-yearly results are presented using the same accounting principles, under IFRS. The only complex accounting issues surround the treatment of goodwill and the contingent liability for earn-out relating to the acquisition of Innovative Finance Srl. This matter is fully covered in the 2021 Annual Report and Accounts, available from the Company's website at www.eight.capital.

The other point you will note is that the £1 million of fees the Group earned during this third quarter, which we announced on 16 September, do not feature in the half-yearly numbers. Despite a great deal of vital work prior to 30 June being instrumental in earning those fees, the simple fact that they were success fees precluded them. Nevertheless, we now know that our 2022 revenues have already exceeded those of 2021 by at least 50% and I would like to thank our teams in our two operating subsidiaries: Innovative Finance Srl ("Innovative") and Epsion Capital Ltd ("Epsion") for their efforts.

We were pleased when Luciano Maranzana joined the board of Eight Capital in August 2022 as a Non-executive Director having become Managing Director of Innovative in July 2022.  An extensive career in financial services and investment management provides additional breadth across the sector at board level.  We are working on strengthening Eight Capital's board further, seeking even more experience from the fintech and banking sectors, which matches our core areas of operating focus.

Richard Day was also a great addition to Epsion in May 2022.  He is successfully growing the Epsion team having engaged a compliance specialist to further enhance systems and processes, as well as being close to recruiting an additional senior member of the corporate finance team.

Although the wider markets are difficult, both Innovative and Epsion continue to develop an interesting pipeline of transactions that include fintech acquisition opportunities for Eight Capital and transactions with third parties. 

The third and, for the future, the most significant aspect of where we are today in the Group's development, is the progress we are making in completely re-shaping the Company's balance sheet. We are in the closing stages of finalising the Company's circular to shareholders in respect of seeking a waiver of obligations under Rule 9 of the City Code on Takeovers and Mergers to enable certain existing debts to be converted into equity in ECP.

This will open the door to creating a much larger and more robust balance sheet and a Company that we believe will quickly grow to be far more interesting to investors. We want to be, and expect to become, a significant player in our sphere of Fintech enablers and service providers.

Therefore, when you read below that revenues for the first six months are below £60,000 and the balance sheet is showing net liabilities, weighed down by large interest charges, please consider the transformational nature of what I have written above and you will appreciate why I and my colleagues on the Board are extremely optimistic about the future.

Dominic White

Chairman

The directors of the Company take responsibility for this announcement.

For further information, please contact:

Eight Capital Partners plc

Consolidated Statement of Comprehensive Income

for the six months ended 30 June 2022

Eight Capital Partners plc

Consolidated Statement of Financial Position at 30 June 2022