29 October 2021

Litigation Capital Management Limited

("LCM" or the "Company")

Exercise of Options, Issue of Equity, Director / PDMR Shareholding

Litigation Capital Management Limited (AIM:LIT), a leading international alternate asset manager of disputes financing solutions, announces:

Executive CEO

On 27 October 2021 Patrick Moloney, Chief Executive Officer of the Company exercised 900,000 options (the "Executive Options") at an exercise price of A$1.00.  The Company has agreed to issue and allot in total 900,000 new Ordinary Shares ("Ordinary Shares") in the capital of the Company to Patrick Moloney. Following Admission, Patrick Moloney will hold 10,153,258 shares and 8.55% of the issued share capital.

The LCM Loan Share Plan ("LSP") will be utilised to pay the strike price.

Non-Executive Directors

On 27 October 2021 Seistend Pty Ltd, an entity associated with Dr David King, a non-executive director of the Company, exercised 600,000 options (the "Non-Executive Options") at an exercise price of A$1.00. The Company has agreed to issue and allot in total 600,000 new Ordinary Shares in the capital of the Company.

The Executive Options and the Non-Executive Options were granted on 21 September 2016.

The Company has made an application for the 1,500,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective on 5 November 2021.

Concurrently with the exercise, Seistend Pty Ltd, an entity associated with Dr David King sold 250,000 Ordinary Shares to Jonathan Moulds, Chairman of the Company, at a price of GBP £1.00.

Following Admission, Seistend Pty Ltd, an entity associated with Dr David King, and Jonathan Moulds will hold 1,951,484 and 250,000 Ordinary Shares respectively, and 1.64% and 0.21% of the Company's 118,699,145 Ordinary Shares in issue, each with voting rights.

This figure of 118,699,145 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Company does not hold any Ordinary Shares in Treasury.

Enquiries

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternate asset manager specialising in disputes financing solutions internationally, which operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is third party fund management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Portfolio funding and Acquisitions of claims. LCM generates its revenue from both its direct investments and also performance fees through asset management.

LCM has an unparalleled track record driven by disciplined project selection and robust risk management.

Currently headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018, trading under the ticker LIT.

www.lcmfinance.com

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them