24 October 2023

Onward Opportunities Limited

("Onward Opportunities", "ONWD" or the "Company")

QUARTERLY FACTSHEET - Q3 2023

Onward Opportunities Limited is pleased to announce the publication of its second quarterly factsheet to the end of September 2023 following the Company's admission to trading on AIM in March 2023.

Please follow the link below to access the Q3 2023 fact sheet, which will also be available to download from the Company's website at www.onwardopportunities.co.uk.

https://onwardopportunities.co.uk/dgw-onward-opportunities-factsheet-30-september-2023/

As at 30 September 2023, the unaudited net asset value per ordinary share was 100.39 pence per share, an increase of 4.12% when compared to 30 June 2023.

Q3 2023 Portfolio Manager Commentary

"We have released our second factsheet which summarises the third quarter of 2023. The fund continued its positive start to investment performance, with the Company's NAV growing +4.1% for Q3 to 100.4p. The portfolio of equities and gilts has delivered a 43.1% IRR since launch and materially outperformed comparator equity markets, as shown in the table in the factsheet.

Seeing early investments set off in the right direction against challenging macro and market backdrops has been encouraging. The NAV performance in the third quarter was mainly driven by positive performance in Angling Direct, Restore, DX Group, React Specialist Cleaning and Transense Technologies, three of which are 'core positions.' The portfolio captured its first two takeover approaches in the nursery, with DX Group and STM Group. Supplementing this work, we initiated our first fundraise since launch, which was completed shortly after the end of the quarter, growing the company by 25% and raising £3.4m at 102.5p/share, a small premium to NAV."

For further information, please contact: