Hipgnosis Songs Fund Limited has released the findings of the due diligence conducted on the Company's assets as part of the Strategic Review. The Board appointed Shot Tower Capital, LLC as lead adviser to provide an independent valuation of the Company's assets. Shot Tower's final valuation report confirms that the fair market value of the Company's portfolio is $1.948 billion, representing a multiple of trailing 12-month net cash revenue after royalty and administration costs of 16.0x as of 30 June 2023.

The due diligence findings, including references to separate legal and financial due diligence reports completed by Reed Smith LLP and BDO USA, P.A., can be found on the Company's website. The Board, along with its advisers, continues to assess all options for the future of the Company and will announce the conclusions of the Strategic Review, including proposals for the future of the Company, by 26 April 2024. The Board intends to seek shareholder approval for such proposals at an extraordinary general meeting as soon as practicable thereafter. For further information, contact details have been provided for Hipgnosis Songs Fund, Singer Capital Markets, and Headland Consultancy.