Hipgnosis Songs Fund Limited has acknowledged the media commentary regarding allegations against Merck Mercuriadis, Hipgnosis Songs Management, and the Company. The lawsuit, disclosed on 23 November 2023 and in the 2023 Annual Report, involves High Court proceedings initiated by Hipgnosis Music Limited against Mr. Mercuriadis, Hipgnosis Songs Management, and the Company. The claim alleges an unlawful diversion of the Hipgnosis business opportunity and seeks to recover a substantial but unquantified sum. Hipgnosis Music Limited has secured litigation funding, and the Board has appointed Kastle Solicitors to review the claim independently. The Company intends to seek an indemnity from Mr. Mercuriadis and Hipgnosis Songs Management against any potential liability resulting from their actions. For further information, contact details have been provided.