SVG Capital : Announcement of Posting of Circular and opening of Tender Offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL

SVG Capital (the 'Company') is today posting a Circular to Shareholders containing details of the third tender offer of up to £400 million

Highlights

• Series of tender offers (and associated repurchases) to return up to £1,050 million to shareholders; total return to shareholders of approximately £1,118 million through tender offers (and associated repurchases) and subsequent winding up
• First tender offer of £350 million priced at 715p per share closed on 16 December 2016
• Second tender offer of £300 million priced at 715p per share closed on 21 February 2017
• Third and final tender offer of up to £400 million priced at 715p per share
• Reduction of Capital (to create sufficient distributable reserves for the third tender offer) was made effective by registration with Registrar of Companies on 2 March 2017

Summary Timetable

• Tender Offer opens: 10 March 2017
• Latest time and date for receipt of Tender Forms and share certificates in relation to the Tender Offer: 3.00 p.m. on 7 April 2017
• Latest time and date for receipt of TTE instructions in relation to the Tender Offer: 3.00 p.m. on 7 April 2017
• Tender Offer Record Date: 6.00 p.m. on 7 April 2017
• Announcement of results of the Tender Offer: 7.00 a.m. on 10 April 2017

A copy of the Circular will be submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk

A copy of the Circular is now available to view on the Company's website at: www.svgcapital.com