AUGMENTUM FINTECH PLC

Net Asset Value • Mar 13, 2023

National Storage Mechanism | Additional information

Augmentum Fintech Plc - No Material Impact on Augmentum - Silicon Valley Bank

PR Newswire

London, March 13

13 March 2023

Augmentum Fintech plc

Statement in respect of Silicon Valley Bank – No Material Impact on Augmentum

Augmentum Fintech plc (LSE: AUGM) (the “Company” or “Augmentum”), Europe’s leading publicly listed fintech fund notes the statement1 from the Bank of England that, absent any meaningful further information, it intends to apply to the Court to place Silicon Valley Bank UK Limited (“SVB UK”) into a Bank Insolvency Procedure.

The impact on the Company, directly and indirectly via the Company’s portfolio, is not material.

Augmentum itself has no direct exposure to SVB UK, nor to its parent company in the United States, nor to any Silicon Valley Bank affiliate entity. As at 12 March 2023, Augmentum had cash and cash equivalents of approximately £40million. This amount excludes the £22.8 million due from the proposed acquisition of portfolio company Cushon by the NatWest Group, which is expected to be received by the Company on completion of the transaction in Q2 2023 following, inter alia, receipt of the necessary regulatory approvals.

Of the 25 companies in Augmentum’s portfolio, only two have balances with SVB UK. These two companies also have sufficient funds at other UK Tier 1 banks to continue trading whilst a resolution is sought. Together the two companies represent 2.6% of the Company’s NAV of £292.1 million2 and neither are in the Company’s top ten portfolio holdings.

Notes:

1. https://www.bankofengland.co.uk/news/2023/march/boe-statement-silicon-valley-bank-uk

2. Unaudited NAV before performance fee as at 30 September 2022. Excludes the expected uplift from the proposed acquisition of portfolio company Cushon by the NatWest Group.

Enquiries:

Augmentum Fintech Tim Levene, Portfolio Manager Georgie Hazell Kivell, Marketing and IR	+44 (0)20 3961 5420 georgie@augmentum.vc
Quill PR Nick Croysdill, Sarah Gibbons-Cook (Press and Media)	+44 (0)20 7466 5050 press@augmentum.vc
Peel Hunt LLP Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking)	+44 (0)20 7418 8900
Singer Capital Markets Harry Gooden, Robert Peel, Alaina Wong (Investment Banking)	+44 (0)20 7496 3000
Frostrow Capital LLP Paul Griggs, Company Secretary	+44 (0)20 3709 8733

About Augmentum Fintech

Augmentum invests in fast growing fintech businesses that are disrupting the financial services sector. Augmentum is the UK’s only publicly listed investment company focusing on the fintech sector in the UK and wider Europe, having launched on the main market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines and giving public markets investors access to a largely privately held investment sector during its main period of growth.

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