18 August 2017

Menhaden Capital PLC

(the “Company”)

Change to Portfolio Management Team

The Board of the Company has been informed that Alexander Vavalidis has resigned as a partner of Menhaden Capital Management LLP.  Consequently his secondment to Frostrow Capital LLP, the Company’s Alternative Investment Fund Manager, and his membership of the Investment Committee will cease with effect from 15 September 2017.

Ben Goldsmith and Luciano Suana will continue to carry out the day to day portfolio management activities of the Company, identifying and presenting investment opportunities to the Investment Committee, which is chaired by Graham Thomas.  The Investment Committee makes all investment and divestment decisions in respect of the Company. Menhaden Capital Management LLP is actively recruiting to further strengthen the team.

The Board would like to express their appreciation to Mr Vavalidis for his contribution since the Company’s launch in July 2015.

 LEI: 2138004NTCUZTHFWXS17

-ENDS-

Katherine Manson

Frostrow Capital LLP

Company Secretary

0203 709 8734