National Storage Mechanism | Additional information

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THE CONTENTS OF THIS ANNOUNCEMENT, WHICH HAS BEEN PREPARED BY AND IS THE SOLE RESPONSIBILITY OF THE COMPANY, HAVE BEEN APPROVED BY H&P ADVISORY LTD SOLELY FOR THE PURPOSES OF SECTION 21(2)(B) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000.

THE COMMUNICATION OF THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA.

Neither this announcement, nor anything contained herein, shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Prospective investors should not subscribe for or purchase any securities referred to in this announcement, except on the basis of the information in an admission document in its final form which may be published by the Company and any supplement thereto ("Admission Document"), in connection with the proposed Admission (as defined below).

A copy of the Admission Document will, following publication, be available for viewing on i(x) Net Zero's corporate website at www.ixnetzero.com, subject to certain access restrictions.

i(x) Net Zero PLC

(the "Company" or "i(x) Net Zero")

Intention to Float on AIM and proposed £20 million Placing

Net Zero Impact Investor Launching IPO on AIM

i(x) Net Zero PLC, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, announces its intention to launch an initial public offering ("IPO") on AIM, a market operated by London Stock Exchange plc ("Admission"), including a fundraising by way of a placing, subscription and PrimaryBid offer (together, the "Fundraising") of new ordinary shares of no par value of the Company (the "Ordinary Shares") to raise gross proceeds for the Company of approximately £20.0 million. Admission is expected to occur in late December 2021.

On Admission the Company will be the owner of i(x) investments, LLC ("i(x) investments" and together with the Company "i(x)"). i(x) is an investing company that provides its shareholders and investors the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.

Investors in i(x) investments include Veronica Chou, president of Iconix China Group and Novel Fashion Holding; the Desmarais family, investors and financiers who built up Canada's Power Corp.; Joe Gebbia, co-founder of Airbnb; Aileen Getty, philanthropist and co-founder of Sprout; Chuck Clarvit, CEO of Clarvit Capital and former Managing Director and Co-Head of BlackRock Alternative Advisors; and Anthony Kiedis, climate activist and lead vocalist of Red Hot Chili Peppers.

While i(x) already has access to significant pools of capital through the i(x) investments shareholder base and ultra-high net worth family office network, the Company is a strong advocate for the democratisation of capital and believes that its investment returns should be available to a wider investor base.

In accordance with its belief that some of the world's biggest problems present significant market opportunities, i(x) focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment. i(x) uses a multi-strategy investment approach, generally providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) has invested in biofuels, direct air capture, renewable energy, sustainable workforce housing and sustainable energy efficient apartment buildings. i(x) Net Zero subscribes to the UN Principles for Responsible Investing ("PRI") and has been accepted as a provisional signatory.

Following Admission, the Company intends to use the net proceeds of the proposed Fundraising to provide development and expansion capital to certain of its investee companies, for future investments in companies that fall primarily within its areas of interest in Energy Transition and Sustainability in the Built Environment and to provide working capital for the Group. The Company also expects to make new investments, including potentially exploring a possible alliance with a renewables and circular economy platform, and the potential creation of a joint venture with a firm that has a track record of investing in, developing and operating sustainable infrastructure.

The Company's investing policy is to generate long term capital appreciation for its shareholders principally by creating, funding, partnering with and/or developing companies that are committed to Energy Transition and Sustainability in the Built Environment.

i(x) is supported by a strong management team with broad and deep experience in the finance industry, including in private equity, venture capital, growth capital, real estate, capital markets, advisory and project development, risk management, asset management and alternative investments.

HIGHLIGHTS

IPO Highlights

· The Company is proposing to seek admission to AIM, with Admission expected in late December 2021, subject to the successful completion of the Fundraising.

· The Company intends to raise gross proceeds of approximately £20.0 million by the placing of the new Ordinary Shares.

· The Company has engaged H&P Advisory Ltd ("Hannam") as financial adviser and joint broker, and Shore Capital and Corporate Limited as nominated adviser and Shore Capital Stockbrokers Limited as joint broker (together "Shore Capital").

Current Investments

Energy Transition

· WasteFuel Global, LLC ("WasteFuel") (i(x) has a 36.17%* holding in WasteFuel): is a U.S. next-generation waste-to-fuels company that seeks to use proven technologies to address the climate emergency and revolutionise mobility by creating renewable transportation fuels. In particular, WasteFuel is focused on developing renewable marine fuel, sustainable aviation fuel ("SAF") and renewable land transportation fuels. WasteFuel has established a strategic partnership with PrimeInfra, a leading global developer of core infrastructure assets, to develop biorefineries to convert municipal solid waste ("MSW") to renewable jet fuel in the Philippines. NetJets Inc ("NetJets"), a worldwide leader in private aviation, has announced that it will purchase a minimum of 100 million gallons of jet fuel over the next decade from WasteFuel. WasteFuel is working with A.P. Moller-Maersk A/S. ("Maersk") to develop Renewable Natural Gas ("RNG"), and biomethanol projects and offtake which could be used to supply their new fleet of green biomethanol container ships which are under construction. * assuming fully diluted, currently 38.01%.

· Carbon Engineering Ltd ("CE") (i(x) has an indirect 0.45% holding in Carbon Engineering): is a British Columbia (Canada) corporation that deploys a proprietary Direct Air Capture ("DAC") technology that captures carbon dioxide ("CO₂") directly out of the atmosphere. In August 2020, Carbon Engineering announced a licensing agreement with development company 1PointFive, enabling the commercial development of the world's largest DAC facility in the Permian Basin in the southwestern United States. In June 2021, CE and Storegga, a UK company pioneering carbon reduction and removal projects, announced that they have begun the engineering and design of a DAC facility that will permanently remove between 500,000 and one million tonnes of CO₂ in North-East Scotland.

· Enphys Management Company, LLC ("Enphys") (i(x) has an 11% holding in Enphys): is i(x)'s partnership with the Latin America Investment Group ("LAIG"). Founded in 2008, LAIG is a business development and investment group focused on Latin America. Enphys will pursue private and public opportunities focused on renewables and energy transition in Latin America. The Company owns 11 per cent. of the economics that Enphys will derive as the co-sponsor of a special purpose acquisition corporation ("SPAC") called Enphys Acquisition Corp. ("EAC"). On 8 October 2021, EAC closed its upsized initial public offering of a total of 34,500,000 units (including the underwriters' over-allotment option) on the New York Stock Exchange with total gross proceeds raised of US$345 million. It expects to identify and execute a business combination in 2022 with one or more businesses that predominantly operate in Latin America and whose business strategy is aligned with energy transition and sustainability themes, in particular renewable energy. Enphys' targeted return is a two to seven times multiple on invested capital ("MOIC") in 9 to 12 months after a successful acquisition by EAC.

Sustainability in the Built Environment

· MultiGreen Properties, LLC ("MultiGreen") (i(x) has a 10.46% holding in MultiGreen): is a Delaware limited liability company that is i(x)'s attainable and sustainable housing platform. MultiGreen seeks to supply affordable workforce rental housing by reducing construction costs and duration and providing standardised building types. As of 30 June 2021, MultiGreen had $274 million of active apartment projects underway, comprising over 750 units. MultiGreen's aim is to construct 40,000 attainable multifamily units by 2030. As of 30 June 2021, 1,106 units were already funded through SPVs with funders, projects representing 3,257 units were under contract and 12,106 units were in the pipeline. MultiGreen has a strategic relationship with another company in which i(x) has an indirect interest, Sustainable Living Innovations ("SLI"), and will seek to build apartments utilising SLI's patented panelised technology in urban core, high rise projects with the ability to deliver net zero energy buildings. SLI has also incentivised MultiGreen to build up to 2,000 apartments using SLI's technology. In July 2021, MultiGreen completed a US$75 million construction loan for its APEX 582 @Galleria multi-family project in Henderson, Nevada. The project, which broke ground in October 2021, will offer 336 garden style units of sustainably built, attainable workforce apartments.

· Sustainable Living Innovations, LLC, ("SLI") (i(x) has a 0.10% holding through a partnership formed to hold SLI equity): is a Delaware limited liability building technology and product development company producing high-performance panelised buildings. Its mission is to address housing affordability while delivering a new standard in sustainable living. In June 2021, SLI began construction of a fifteen storey, 112-unit apartment building located at 303 Battery Street in Seattle, Washington. 303 Battery is believed by SLI to be the world's first multifamily high-rise apartment building to meet the net zero energy requirements first established by the International Living Futures Institute. SLI will continue to design, build and deliver net zero buildings to multiple markets in the U.S. initially and then globally.

· Context Labs, B.V. ("Context Labs") (i(x) has an interest which converts into a 0.36% holding in Context Labs): is an impact software company, incorporated in the Netherlands but headquartered in the U.S. Its digital infrastructure technology platform brings trusted data and analytics to complex problems with contextual precision. Context Labs provides enterprise grade, blockchain-enabled platform solutions that delivers trust and transparency for the digital and physical worlds. With its focus on impact, Context Labs has been referred to as "Palantir for Climate," building an interconnected trusted-data matrix of the planet's climate attributes, using AI and machine learning to correlate both public and private companies' actions to financial performance. This capability provides a new lens to transform the ESG market space, enabling investors and stakeholders to better target companies to accelerate and maximise global impact.

The Company's investment in Context Labs is focused on the critical data and analytical infrastructure needed for public and private operating companies, real asset owners, and the energy complex, to immutably confirm their carbon footprint and compliance with regulatory frameworks. Context Labs will also allow investors to verify the integrity of their net zero aspirations and the carbon emissions of their holdings.

Strategy supported by global policies mandating carbon reductions and net zero

· Human emissions of CO₂ and other greenhouse gases ("GHGs") are a primary driver of climate change and present one of the world's most pressing challenges. In 2020, it was estimated that the world collectively emits the equivalent of approximately 50 billion tonnes of CO₂ each year, which is 40 per cent. higher than just 20 years earlier.

· Global emissions are still rising; in order to avoid the worst effects of climate change, scientists have estimated that the world needs to reduce GHG emissions to net zero in order to limit global temperature rise to no more than 1.5°C above pre-industrial levels.

· On 13 November 2021 at the conclusion of COP26, the 2021 United Nations Climate Change Conference in Glasgow, more than 190 governments signed onto the Glasgow Climate Pact, that seeks to continue to reduce greenhouse gas emissions in hopes of avoiding catastrophic global warming, but with watered down language that was agreed as a compromise. It left significant questions over how governments will follow through over the next decade. The provision that governments pledge bigger emissions cuts by the end of 2022 was an acknowledgment that recent targets set by countries still fall short of what is necessary to meet the goals of the 2015 Paris Climate Accord. The Glasgow Pact has no real enforcement mechanism, and only asks for new plans "as necessary," giving countries plenty of discretion on whether to do more. The United States has already said that it is unlikely to speed up its own reduction plan in a year's time. The U.N. has said that current plans would allow CO2 emissions to rise 13 per cent. by 2030 compared with 2010 levels; scientists say that they must fall 45 per cent. to hit the 1.5°C target. An updated assessment of global warming by the end of the century based on a country's Nationally Determined Contribution (NDC), projects an increase of 2.4°C if 2030 target and benchmarks are not met, prompting the commitment of countries to come back next year with higher targets to try and keep the 1.5°C target alive.

· According to the International Energy Agency ("IEA"), achieving net zero emissions by 2050 will require the rapid deployment of available technologies as well as the widespread use of technologies that are not yet on the market. Advanced batteries, hydrogen technology and direct air capture and storage technologies represent the biggest innovation opportunities; with time running out, efforts to realise the potential of these innovation opportunities need to take place in this decade. It is companies pioneering and building this sort of technology that i(x) Net Zero seeks to support.

Significant global private capital invested in net zero technologies and strategies

· Accelerated levels of public funding around the world will be critical to the energy transition, but ultimately the private sector will need to finance most of the extra investment required. Institutional assets under management were estimated to be more than US$100 trillion in 2020.

· High Net Worth and Ultra High Net Worth assets under management globally are projected by Morgan Stanley to grow to US$100 trillion by 2024, with sustainable investments among these investors to grow to US$9 trillion in the same time period.

· PwC projects that mutual funds and ETFs will account for US$70 trillion by 2025, a significant portion of which is or will be held by retail investors.

· More and more, investors are demanding that wealth managers and investment managers put a priority on environmental, social and governance ("ESG") and sustainability-focused assets as they seek to align their investments with their values. These huge pools of capital are how the energy transition will be financed.

i(x) Net Zero's network is a strong competitive advantage

· Among the sources of capital that i(x) brings to its investee companies and a key strength of its business model is a number of significant family offices around the world that have invested both in i(x) directly and also as co-investors alongside i(x) in a number of its investments.

· By engaging with its shareholders in this manner, i(x) leverages not just their capital, but also their resources and spheres of influence. Many of i(x)'s investment opportunities have been sourced from its shareholders.

· As an investing company, the Company has been designed to align the interests of its shareholders with its current and future co-investors who have the resources to participate directly in investment opportunities alongside i(x).

Strong ESG credentials

· As its name and its areas of focus suggest, the Company is committed to investing in businesses that contribute to net zero and carbon neutral solutions. In the principal areas of its investment focus, Energy Transition and Sustainability in the Built Environment, the Company's investee companies are employing proven technologies and building businesses around them that seek to achieve carbon neutrality at scale.

· Mindful of its own carbon footprint, the Company is adopting a fully auditable carbon accounting programme that is designed to enable it to achieve carbon neutrality (or better) in its own activities, largely by funding a specific plan to invest in carbon removal and carbon credits and offsets. The Company is also working with its investee companies to help them develop guidelines that they can utilise in conjunction with their own carbon footprint mitigation efforts.

· i(x) Net Zero is a provisional signatory to the Principles for Responsible Investment ("PRI").

The Right Honourable Nick Hurd, Non-Executive Chairman of the Company, said:

"It is well-established that humanity is facing an existential crisis as a result of climate change. Fortunately, we humans are nothing if not innovative and collaborative, and I was heartened to see at COP26 in Glasgow so many world leaders, experts and activists focussed single-mindedly on the challenges we face, and how to come together to overcome them.

"Large-scale investment of private capital is the key to scaling up the technological and structural innovations the world needs in order to massively reduce our carbon output. The capital is there: what is needed are dedicated financial and operational experts who can nurture and incubate the companies which are pioneering and commercialising the technologies. i(x) Net Zero is comprised of exactly those experts.

"Steve Oyer and his team have a proven track record and a strategy to provide investors with the opportunity for long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on communities. It is an opportunity to put capital to work to make a real difference."

Steve Oyer, Chief Executive Officer of the Company, said:

"Our belief is that the world's biggest problems present significant market opportunities, and that capital, deployed intentionally, has the power to improve the sustainability of our planet and the communities in which we live. Our mission is to utilise our capital, experience and sphere of influence as a catalyst to help address some of the significant problems threatening the world. We look to maximise positive social, environmental, and economic impact wherever we are active.

"i(x) Net Zero is seeking admission to AIM to access global growth capital to scale the business further. Admission also offers the ability for individual and institutional investors to deploy capital into a company whose sole mission is to create top-tier returns while addressing humanity's greatest challenges, like climate change, through the companies we are building.

"i(x) Net Zero exists to provide resources and support to targeted companies that are rapidly innovating and scaling up to address the climate crisis. We see many near- and medium-term opportunities to invest further in our own investee companies and new initiatives to preserve and benefit the planet."

For further information visit https://ixnetzero.com/ or contact:

i(x) Net Zero	Via Buchanan below
Steve Oyer - Chief Executive Officer
Pär Lindström - Chief Investment Officer
Marc Chennault - Chief Financial Officer

H & P Advisory Limited Financial Adviser, Joint Bookrunner & Joint Broker	+44 20 7907 8500
Neil Passmore
Ernest Bell
Andres Guerra Londono
Andy Crispin (Sales)

Shore Capital Nominated Adviser, Joint Bookrunner & Joint Broker	+44 20 7408 4050
Tom Griffiths
David Coaten

Buchanan
Helen Tarbet	+44 7872 604 453
Simon Compton	+44 7979 497 324
Ariadna Peretz	+44 7488 495 969

Board of Directors & Management Team

Nicholas Richard Hurd, Non-Executive Chairman of the Board (aged 59)

The Right Honourable Nick Hurd served as a Member of Parliament in the UK for fourteen years before stepping down in December 2019. During his time as a Member of Parliament, he served as a UK Government Minister for more than eight years to three different Prime Ministers.

Before politics, Mr. Hurd spent 18 years in business, including almost nine years in investment banking and fund management. He was a buy-side analyst and then institutional pension fund manager at Morgan Grenfell Asset Management. At Flemings Investment Bank, he was Managing Director of the full service Brazilian subsidiary which he set up; after negotiating a joint venture to scale the business in Brazil, he served on the new board and focused on investment banking advisory.

Mr. Hurd has a long involvement in climate change policy. He served in Parliament on the UK Environment Audit Committee, the Climate Change Bill scrutiny committee and as chair of the All Party Environment Group. In addition, he served as the UK International Development Minister, which included responsibility for climate change and climate finance. He also served as UK Minister for Climate Change and Industry, where he provided oversight of carbon budgets, clean growth strategy, ratification of the Paris Agreement and international climate finance.

As one of the longest serving Ministers for Civil Society, Mr. Hurd led the Government work that helped establish the UK as a world leader in developing the impact investment market. He is a Non-Executive Director of Impax Environmental Markets Plc, Chair of the Access Social Investment Foundation, a Global Ambassador for the Global Steering Group for Impact Investment (GSG) and serves on the Advisory Council for the UK Institute for Impact Investment. Mr. Hurd is on the board of the National Citizen Service Trust, a not-for-profit set up by Royal Charter. In July 2021 he was asked to chair an industry-led Impact Investment Taskforce set up with the support of the G7 Presidency.

Steven Michael Oyer, Chief Executive Officer (aged 66)

Steven Oyer is CEO of the Company and of i(x) investments, to which he brings 35 years' business and investment experience. He was most recently Senior Vice President at Lazard Asset Management where he led their Global Family Office Advisory Group. Prior to Lazard, he served as a senior member of the Private Funds Group of Brookfield Asset Management focused on "Real Assets and Renewable Investments."

Mr. Oyer's global investment experience includes structuring and funding direct private equity deals with significant family offices and institutional partners. His collaboration with family offices on direct deals began in the late 1980s, with roles at Harris Bank, Family Office Exchange and Murray Johnstone Ltd, and continued with his role as Managing Director of Global Business Development at Standard & Poor's, leading the advisory services business, derivatives licensing, and distribution of alternative investment indices.

His leadership has included serving as the interim CEO and leading the restructuring of Saflink Corporation, a NASDAQ listed biometric software company. He was also a board member of Salton, Inc. (NYSE: SFP), a designer, marketer, manufacturer, and distributor of a broad range of branded small appliances such as the George Foreman Grill. He played an active role in the restructuring and sale of Salton. Mr. Oyer was a co-founder of Quake Capital, an accelerator that fosters early-stage ventures led by student and faculty entrepreneurs from university ecosystems, and still serves Quake in an advisory capacity.

Mr. Oyer's non-profit efforts have focused on serving on investment committees whose mandates include allocating capital to both public and private markets. He currently serves on the Board of Directors and Investment Committee of the Truth Initiative, "America's largest non-profit public health organisation dedicated to making tobacco and nicotine addiction things of the past." He previously served a five-year term on the Florida Atlantic University Foundation's investment committee.

Mr. Oyer is a founding member of the non-commercial family office initiatives at New York University and Stanford University, where he continues to play a leadership role.

Pär Arne Lindström, Chief Investment Officer (aged 51)

Pär Lindström is Chief Investment Officer of the Company and of i(x) investments and President of Enphys Management Corp., one of the Company's investments. Mr. Lindström brings over 25 years' investment experience and business development expertise through a career focused on venture capital, growth capital and private equity investments in the U.S., Europe and the emerging markets concentrating on Technology, Life Sciences, Renewables, Energy, Industrials and Water/Agri industries.

Previously, Mr. Lindström spent over five years as Principal in the Global Special Situations and Private Equity groups at the Abu Dhabi Investment Council ("ADIC"), where he drove direct investments and backed various investment teams across multiple asset classes. He also co-wrote the Private Equity Department's Strategy and developed its Investment Guidelines. Prior to ADIC, he was a Principal at Partners Capital, a firm backed by Lord Jacob Rothschild and Sir Ronald Cohen, where he headed up the Private Equity, Growth Capital and Venture Capital investments.

Earlier in his career, Mr. Lindström was co-head of Applied Value's New York office, a global turnaround advisory firm with a growth equity investment arm and a senior investment professional at Investor Growth Capital, part of the Wallenberg family's investment company Investor AB, and Affärsstrategerna VC. Mr. Lindström has also held positions with Bain & Company's Private Equity Groups in Europe and the U.S. where he led private equity due-diligence analysis in a variety of industries, and with KPMG Banking & Finance.

Mr. Lindström holds a Bachelor of Science from University of California at Berkeley, an MBA from Harvard Business School and is a two-time Olympian in swimming.

Marc Adam Chennault, Chief Financial Officer (aged 50)

Marc Chennault is Chief Financial Officer and Managing Director of the Company and of i(x) investments, and Chief Financial Officer of WasteFuel. Mr. Chennault joined i(x) investments in 2020 after over twenty years' investment, capital markets, advisory and project development experience in North America and Europe.

Previously, Mr. Chennault was Senior Managing Director at a US renewable fuels developer, where he was responsible for identifying, developing, and directing external capital resources into direct investment opportunities within the developer's portfolio of projects. Prior to his work in the renewable fuels industry, Mr. Chennault was Senior Vice President in Macquarie Group's Commodities and Global Markets division, where he most recently co-founded and co-headed a principal desk providing bespoke financing solutions to private direct lenders. Earlier at Macquarie, he managed the credit side of a joint-risk book with Macquarie's upstream reserve finance team consisting of long-only leveraged loans and high yield bonds of U.S. Oil and Gas Exploration and Production (E&P) issuers, and was responsible for several complicated catalyst-driven or transaction-dependent risk and trading positions in the energy and bio-energy sectors. Before Macquarie, Mr. Chennault held various principal risk and trading desk research analytics positions at Citadel Investment Group and Morgan Stanley Special Situations (Fixed Income Division) in New York and London.

Mr. Chennault is a Certified Public Accountant registered in the State of Michigan, a fellow in good standing with the Michigan Association of Certified Public Accountants and is a member of the American Institute of Certified Public Accounts. Mr. Chennault has an MBA from Harvard Business School, as well as MAcc and BBA (with Honors) degrees from the University of Michigan.

Mr. Chennault currently serves on the boards of directors of The Joan Mitchell Foundation and The Reciprocity Foundation, both based in New York City.

Mr. Chennault is also the current interim Chief Financial Officer of WasteFuel. After Admission this arrangement is expected to continue until WasteFuel sufficiently develops its own accounting function, at which point Mr. Chennault will step down from his position at WasteFuel. When the arrangement with WasteFuel comes to an end Mr. Chennault will be the full time Chief Financial Officer of the Company.

Alice Georgina Chapple, Non-Executive Director (aged 57)

Alice Chapple is a U.K. citizen and resident who is an economist and a specialist in impact investment and impact assessment. She established Impact Value, a specialist consultancy firm that helps impact investors identify how they can best use their capital to create positive social or environmental change, in 2012. She has spent her career working to find ways in which companies and investors can have a meaningful impact beyond financial returns.

Before establishing Impact Value, Ms. Chapple worked as Director of Sustainable Financial Markets at Forum for the Future, where she worked on projects exploring the scope for innovative financial instruments, more effective valuation techniques, better risk assessment and longer-term investment strategies. Prior to that role, she worked for many years at UK development finance institution, CDC Group Plc, as financial analyst, fund manager and social and environmental advisor. In the late 1990s, she established a programme for the evaluation of development impact, and in the 2000s she designed processes for fund managers to assess the ESG aspects of their investments.

Ms. Chapple's current roles include Chair of Investor Watch Group which seeks to align capital markets with a sustainable future through Carbon Tracker and Planet Tracker, two financial think tanks, Independent Director of the Schroders BSC Social Impact Trust PLC, Trustee of the Shell Foundation and member of the Advisory Boards of Frontier Finance Solutions, WHEB Asset Management and Connected Asset Management. She has also developed a sustainable finance course for the University of Cambridge Institute of Sustainability Leadership.

Ms. Chapple has an MA in Economics from Cambridge University and is a chartered accountant.

Patricia Jean McCall, Non-Executive Director (aged 51)

Patricia McCall is a U.S. citizen, based in the New York area, with more than 20 years of international experience in philanthropy advising, investment management, economic development, regulatory reform, and education. In her current role as Winrock International's Vice President of Corporate Affairs and Global Strategy, Ms. McCall leads Winrock's efforts to develop impact investment programmes, oversee corporate partnerships, and evolve efforts to secure philanthropic partners for its programmes.

She has developed private-public partnerships, led policy institutes and designed investments and initiatives to maximise return and impact. She has worked in the United States, the Middle East, and the United Kingdom. Ms. McCall has a background in philanthropy, impact investing and global development. She worked for the International Finance Corporation ("IFC") in Cairo, guided philanthropic programming for several family-led foundations in the Middle East, and led the Center for Economic Growth at the INSEAD campus in Abu Dhabi, Europe's leading graduate school of business.

Ms. McCall holds an M.A. in development economics from the Columbia University School of International and Public Affairs and a B.A. in economics from the University of Virginia.

i(x) Team

In addition to the executive Directors named above (Steven M. Oyer, Chief Executive Officer, Pär A. Lindström, Chief Investment Officer and Marc A. Chennault, Chief Financial Officer), the management team also includes:

Paul R. Aaronson, Chief Operating Officer

Mr. Aaronson is the Chief Operating Officer of the Company and of i(x) investments and Chairman and Chief Executive Officer of i(x) Sustainable Holdings, LLC, a privately-held company that owns certain assets previously owned by i(x) investments. Mr. Aaronson is a senior financial services executive with over 35 years' diverse experience in asset management, alternatives investing, new product development and global securities law. Mr Aaronson is not a board director.

Mr. Aaronson's experiences in a variety of investment-related roles include Managing Director at Guggenheim Partners Investment Management, where he was responsible for supporting all of the business aspects of the Equities group and Chief Operating Officer of its Global Alpha Equities team; founding Scaroon Associates, a financial consulting firm that advised on a variety of projects relating to alternative investment platforms, exchange traded funds and investment indices; and co-founding several hedge fund start-ups.

Earlier in his career, Mr. Aaronson was Executive Managing Director at Standard & Poor's, where he led S&P's index business, responsible for the development, calculation, dissemination and licensing of its global indices, and its portfolio advisory business, which provided investment strategies and advice to portfolio managers worldwide.

Prior to that, Mr. Aaronson was a Principal in the Equity Derivatives group at Morgan Stanley in New York and London, working as the global product manager of international equity index basket products and exchange traded funds. Mr. Aaronson was instrumental in developing the first exchange traded funds to be focused on international equities. He joined the Equity Derivatives group from Morgan Stanley's in-house legal department in London, where he was Vice President and Counsel to Morgan Stanley's European businesses.

Mr. Aaronson began his career as a securities lawyer with Sullivan & Cromwell in New York City having received his Bachelor of Arts degree from Middlebury College and his Doctorate of Jurisprudence from Yale Law School.

Lindsay K. Gray, Managing Director, Strategic Initiatives

Lindsay Gray is Managing Director of Strategic Initiatives at the Company. She has experience in business development, operations and project management. Ms. Gray is not a board director.

Previously, Ms. Gray was Director of Business Development at ARK Development/Racebrook Capital, a real estate development and real estate private equity firm and family office, managing a cargo re-development and infrastructure project at JFK International Airport in New York. She also launched and ran the operating businesses the family owned. She worked with the company principals, focusing on corporate business development and marketing, pre- and post-operational strategy and property management, interacting with multiple stakeholders and managing relationships and agreements with tenants, non-governmental and governmental agencies, airlines and B2B/B2C customers.

Her prior experience includes developing major gift and annual fund fundraising strategies for New York University and consulting for family offices, small business and non-profit organisations on internal control processes, marketing and fundraising strategy, both domestically and internationally.

Ms. Gray graduated with a BA from Gettysburg College, Phi Beta Kappa and magna cum laude, and received her MBA from New York University's Stern School of Business, where she and classmates inaugurated what is now the NYU Impact Investment Fund.

Drew S. Butler, Managing Director, Business Development

Drew Butler is a Managing Director and the Head of Business Development at the Company. He brings his extensive experience as a family office adviser who specialises in real estate, venture capital and impact investments. Mr. Butler is not a board director.

In 2012, he formed Butler Global Partners to work directly for select families seeking customised solutions in asset and family management.

Prior to that, in London, Mr. Butler served as Vice President at First Avenue, a leading global placement agent. Previously, Mr. Butler worked as an Investment Analyst at New York Life, where he co-managed their US$500 million Community Investment Program.

Earlier, Mr. Butler was a Senior Associate at Richman Asset Management in Greenwich and an Associate at Merrill Lynch in New York.

Mr. Butler was awarded a BA from Cornell University, a Certificate in Real Estate from NYU, and an MSc in Real Estate Development from Columbia University. After Columbia, he attended the London School of Economics, where he was selected to serve as a researcher for UK Parliament and earned an MSc in Regional & Urban Planning Studies.

Mr. Butler has served on committees for the Affordable Housing Investor Council, Ceres and The Lawrenceville School. As an author, he has contributed to Urban Land and Family Office Real Estate Magazine.

Mr. Butler is currently engaged by i(x) investments on a consultancy basis, although i(x) investments intends on employing Mr. Butler with effect from 1 December 2021.

Forward looking statements

This announcement includes statements that are, or may be deemed to be, 'forward-looking statements'. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms 'believes', 'estimates', 'anticipates', 'expects', 'intends', 'plans', 'may', 'will' or 'should' or, in each case, their negative or other variations or comparable terminology. All statements other than statements of historical fact included in this announcement are forward-looking statements. They appear in a number of places throughout this announcement and include statements regarding the Directors' or the Group's intentions, beliefs or current expectations concerning, among other things, its operating results, financial condition, prospects, growth, expansion plans, strategies, the industry in which the Group operates and the general economic outlook.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and therefore are based on current beliefs and expectations about future events. Forward-looking statements are not guarantees of future performance and the Group's actual operating results and financial condition, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if the Group's operating results, financial condition and liquidity, and the development of the industry in which the Group operates are consistent with the forward- looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. Accordingly, prospective investors should not rely on these forward-looking statements.

These forward-looking statements speak only as of the date of this announcement. The Company, Shore Capital and Hannam expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto, any new information or any change in events, conditions or circumstances on which any such statements are based, unless required to do so by law or any appropriate regulatory authority.

Important Notice

The contents of this announcement, which has been prepared by and is the sole responsibility of the Company, have been approved by H&P Advisory Ltd solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000.

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and persons into whose possession this announcement comes should inform themselves about and observe any relevant restrictions. In particular, this announcement is not for release, publication or distribution, directly or indirectly, in, into or from the United States, Canada, Australia, the Republic of South Africa, New Zealand or Japan.

This announcement does not constitute or form part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment in relation thereto.

Recipients of this announcement who intend to purchase or subscribe for Ordinary Shares in the Company following publication by the Company in accordance with the AIM Rules for Companies of the Admission Document are reminded that any such purchase or subscription must only be made solely on the basis of the information contained in the Admission Document (and, if relevant, any supplementary admission document) relating to the Company in its final form. The Ordinary Shares mentioned herein have not been, and will not be, registered under the US Securities Act of 1933 (as amended) (the "US Securities Act"), and may not be offered or sold in the United States except pursuant to an exemption from, or a transaction not subject to, the registration requirements of the US Securities Act. There will be no public offer of the Ordinary Shares in the United States and the information contained herein does not constitute an offering of securities for sale in the United States, Canada, Australia, the Republic of South Africa, New Zealand or Japan. No money, securities or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. Any purchase of Ordinary Shares on Admission should be made solely on the basis of the information contained in the Admission Document. No reliance may or should be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change.

This announcement is not for publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, the Republic of South Africa, New Zealand, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, the securities referred to herein to any person in any jurisdiction, including the United States, Australia, Canada, the Republic of South Africa, New Zealand or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.

The securities referred to herein may not be offered or sold, transferred or delivered directly or indirectly, in the United States unless registered under the US Securities Act or offered in a transaction exempt from, or not subject to, the registration requirements of the US Securities Act or any other applicable securities laws of the United States and in accordance with any applicable securities laws of any state or other jurisdiction of the United States. The securities referred to herein have not been and will not be registered under the US Securities Act or under the applicable securities laws of Australia, Canada, the Republic of South Africa, New Zealand or Japan. There will be no public offer of the Ordinary Shares in the United States, Australia, Canada, the Republic of South Africa, New Zealand or Japan. Subject to certain exceptions, the Ordinary Shares referred to herein may not be offered or sold in Australia, Canada, the Republic of South Africa, New Zealand or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, the Republic of South Africa, New Zealand or Japan.

Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all or part of the amount invested. Persons considering making such an investment should consult an authorised person specialising in advising on such investments. This announcement does not constitute a recommendation concerning Admission or the Ordinary Shares. The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your investment you may get back less than you originally invested. Potential investors should consult a professional adviser as to the suitability of the Ordinary Shares for the person concerned. Past performance cannot be relied upon as a guide to future performance.

Shore Capital and Corporate Limited ("Shore Capital and Corporate"), which is authorised and regulated in the United Kingdom by the FCA for the conduct of investment business, is acting exclusively as nominated adviser to the Company in connection with Admission and will not be acting for anyone else in connection with the Admission and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Shore Capital and Corporate or for providing advice in relation to Admission or any other matter referred to in this announcement. Shore Capital and Corporate's responsibilities as the Company's nominated adviser under the AIM Rules for Companies and the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or to any Director or to any other person in respect of such person's decision to acquire shares in the Company in reliance on ay part of this announcement.

H & P Advisory Ltd ("Hannam"), which is authorised and regulated in the United Kingdom by the FCA for the conduct of investment business, is acting exclusively for the Company and for no one else in connection with the Placing and Admission and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Hannam or for providing advice in relation to the Placing and Admission or any other matter referred to in this announcement.

Shore Capital Stockbrokers Limited ("Shore Capital Stockbrokers"), which is authorised and regulated in the United Kingdom by the FCA for the conduct of investment business, is acting exclusively for the Company and for no one else in connection with the Placing and Admission and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Shore Capital Stockbrokers or for providing advice in relation to the Placing and Admission, any other matter referred to in this announcement.

Apart from the responsibilities and liabilities, if any, which may be imposed on Shore Capital and Corporate, Hannam and Shore Capital Stockbrokers by the FSMA or the regulatory regime established thereunder, neither Shore Capital and Corporate, Hannam nor Shore Capital Stockbrokers, nor any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for the contents of, or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in, this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. Accordingly, each of Shore Capital and Corporate, Hannam, Shore Capital Stockbrokers and each of their respective directors, officers, employees, advisers and agents expressly disclaims, to the fullest extent possible, any and all liability whatsoever for any loss howsoever arising from, or in reliance upon, the whole or any part of the contents of this announcement, whether in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith, provided that nothing shall act to limit the liability of any person for their own fraud.

For the avoidance of doubt, the contents of the Company's website are not incorporated by reference into, and do not form part of, this announcement.