10 January 2024

Onward Opportunities Limited

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

QUARTERLY FACTSHEET - Q4 2023

Onward Opportunities Limited is pleased to announce the publication of its quarterly factsheet to the end of December 2023.

Please follow the link below to access the Q4 2023 fact sheet, which will also be available to download from the Company's website at www.onwardopportunities.co.uk.

https://onwardopportunities.co.uk/wp-content/uploads/2024/01/DGW-Onward-Opportunities-Ltd-Factsheet-31-December-2023.pdf

As at 31 December 2023, the unaudited net asset value ("NAV") per ordinary share was 106.5 pence, an increase of +6.25% versus the previous month end.

Q4 2023 Portfolio Manager Commentary

"The Company built on the encouraging start of a +4.1% Net Asset Value growth in Q3 to deliver a +6.1% gain for the fourth quarter, capping off a rewarding first financial year of investment performance (NAV growth) for the Company of +11.3% since inception (30/03/23), outperforming the UK AIM All-Share by 16.6%, which fell in the same period. Perhaps most encouraging was the investment performance of the fund relative to its peers, which was top-decile. The standout performers of Q4 were; Springfield Properties, MPAC Group, Brickability, Somero Enterprises, Comptoir Libanais, Windward, Angling Direct and Liontrust Asset Management."

For further information, please contact: