Update on Portfolio Value

For immediate release                                                                                        11 October 2023

Tiger Royalties and Investments Plc

('Tiger' or 'the Company')

Quarter-end Portfolio Value Update

The unaudited portfolio value ("PV") (based on investments and cash only) at 30 September 2023 was 0.08 pence (30 June 2023 - 0.09 pence), both per ordinary share. 

Cash and investments held by the Company as at 30/09/23

Notes:

1)   The above PV calculation is based on 535,128,554 Ordinary shares with a nominal value of 0.1 pence each being the Company's issued share capital of 539,628,554 Ordinary Shares less 4,500,000 Ordinary Shares held in treasury.

2)   On 1 November 2022, the 13,618 shares in Corallian Energy Limited ("CEL")  held by Tiger were sold as part of a sale of CEL to Shell UK Limited ("SUKL") for an estimated £3.20 for each CEL Share. The consideration included an initial fixed amount of £0.80 for each CEL share (received by Tiger) plus certain contingent payments, representing an estimated £2.40 per share due to Tiger in 2023.  The timing of the potential contingent payments due to Tiger is dependent on when consent is received for the development and production of the Victory gas field from the North Sea Transition Authority. The Company will update shareholders when it receives further information relating to these contingent payments.

3)   All reporting is made on a quarterly basis and accordingly the next announcement will disclose the PV per share and investments at 31 December 2023. The Company will disclose its investments on a quarterly basis when disclosing its PV.

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU as it forms part of the UK law pursuant to the European Union (Withdrawal) Act 2018.

For further information please contact:

Novum Securities Plc              Jon Belliss                                      +44 (0)20 7399 9425

(Broker)