Acquisition of Music Catalogue

23 April 2019

Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")

Acquisition of Music Catalogue

The Board of Hipgnosis Songs Fund Limited and its Investment Adviser, The Family (Music) Limited, are pleased to announce that the Company has acquired a music catalogue from Brittany Hazzard, aka Starrah, an American songwriter, producer and singer whose songs have achieved 94 Number 1, 199 Top 5 and 277 Top 10 Chart positions globally.

Starrah co-wrote Camila Cabello's 'Havana' which is the IFPI global Number 1 Song of 2018. The song, together with the subsequent remix version with Spanish lyrics from Daddy Yankee, reached Number 1 in 95 countries, rocketing Camila Cabello's global solo-success. In June 2018, Havana became Spotify's most-streamed song ever by a solo female artist, with 888 million streams. Across all providers, it has now been streamed over 2.6 billion times globally and was globally the best-selling digital single of 2018.

In addition, the catalogue includes Maroon 5's 'Girls Like You' which was Number 1 in the US Billboard Hot 100. 'Girls Like You' spent 33 weeks in the Top 10 in the US and reached Number 1 in 11 countries, including Canada and New Zealand. The song was nominated for Best Pop Duo/Group Performance at the 2019 Grammy Awards.

Starrah also wrote five songs for Calvin Harris' UK Number 2 album 'Funk Wav Bounces Vol. 1', including the UK Number 1 single "Feels" featuring Pharrell Williams, Katy Perry & Big Sean, and three songs for Travis Scott's US Number 1 album 'Birds In The Trap Sing McKnight', including the US two times platinum single 'Pick Up The Phone' featuring Young Thug and Quavo.

The catalogue includes a total of 14 US singles that have reached the Top 20 in the Billboard Hot 100 including Rihanna's 'Needed Me'; Drake's 'Fake Love'; Halsey's 'Now or Never'; and Nicki Minaj's 'No Frauds'.

Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited, said:

"Starrah is at the forefront of today's song writing revolution. She is taking pop artistry to new heights of success, as evidenced by the exquisite 'Havana' which is already an evergreen hit and 'Girls Like You' the longest charting Number 1 radio song of the century. I'm delighted to welcome her and her manager Nick Jarjour to the Hipgnosis Family."

Starrah said:

"The songwriter community is often overlooked and undervalued so I am thrilled to do this prestigious deal with Merck that sets a new precedent for songwriters and producers. I am excited to be offered a seat on Hipgnosis' Advisory Board and look forward to creating opportunities for the next generation of hitmakers."

Nick Jarjour said:

"I am proud to announce this partnership with Hipgnosis and Starrah. Merck is a visionary and this legendary deal is a fresh approach to empowering Starrah, this generation's legacy hitmaker. I am pleased to join the advisory board and looking forward to all the new opportunities to come."

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NOTES TO EDITORS

About Hipgnosis Songs Fund Limited

(www.hipgnosissongs.com)

Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey registered investment company established to offer investors a pure-play exposure to songs and associated musical intellectual property rights. In its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange's main market on 11 July 2018, the Company raised approximately £200m gross equity capital. In its Subsequent Placing under its Placing Programme on 12 April 2019, the Company raised approximately £140m of further equity capital.

About The Family (Music) Limited

The Company's Investment Adviser is The Family (Music) Limited, which was founded by Merck Mercuriadis, former manager of globally successful recording artists, such as Elton John, Guns N' Roses, Morrissey, Iron Maiden and Beyoncé, and hit songwriters such as Diane Warren, Justin Tranter and The-Dream, and former CEO of The Sanctuary Group plc. The Investment Adviser has assembled an Advisory Board of highly successful music industry experts which include award winning members of the artist, songwriter, publishing, legal, financial, recorded music and music management communities, all with in-depth knowledge of music publishing. Members of The Family (Music) Limited Advisory Board include Nile Rodgers, The-Dream, Giorgio Tuinfort, Starrah, Nick Jarjour, Bill Leibowitz, Ian Montone, and Jason Flom.