Board and Management Changes

20 August 2025

ICFG LIMITED("ICFG" or the "Company")

Board and Management Changes

ICFG (LON: ICFG) announces that Oliver Fox has resigned as Chief Executive Officer ("CEO") of the Company with immediate effect. In addition, Benjamin Proffitt has resigned as Chief Financial Officer ("CFO"), a non-Board role, with immediate effect. Their resignations follow the successful completion of the reverse takeover ("RTO"). The Board would like to thank Oliver and Benjamin for their contributions to ICFG, in particular their key roles in delivering the RTO transaction.

In addition, Robert Shepherd has resigned as an independent non-executive director of the Company. The Company has commenced the search and selection process, and Robert has agreed to remain in his role for the duration of his 3 month notice period to ensure a smooth transition. Further announcements will be made in due course.

As the Company enters a new chapter post-RTO, the Board has resolved to make the following interim appointments from within the Group, individuals who have an in-depth understanding of the business:

Enkhmaral (Ema) Batkhuyag, currently Vice President of ICFG PTE Ltd, will assume the role of interim Chief Executive Officer with immediate effect and it is the Board's intention to appoint her as an Executive on the Board, subject to the customary due diligence.

Ema has over 14 years of experience in legal practice and investment banking. She joined InvesCore Capital LLC in 2018. She previously held roles acting as Chief Operations Officer of InvesCore Capital LLC and leading InvesCore NBFI's initial public offering on the Mongolian Stock Exchange, and currently serves as a Board Director at Invescore NBFI JSC. Ema is based in Singapore and speaks fluent English

Tserennadmid (Nadmid) Ganbaatar, currently CFO of SIBJ Capital LLC, a subsidiary of ICFG in Mongolia, has been appointed as interim Chief Financial Officer of the Company.

Nadmid joined SIBJ Capital LLC in early 2024 at and previously held senior finance roles at Cummins Mongolia and PwC Audit LLC, as well as serving as Head of International Cooperation at MonICPA. She is a Fellow of the Association of Chartered Certified Accountants (FCCA), a Member of CPA Australia (CPA), a Lifetime Member of the Mongolian Institute of Certified Public Accountants (CPA), a Member of the Association of Certified Public Tax Accountants (CPTA), and a Mongolian Certified Auditor. Nadmid was closely involved in the RTO process and is also a fluent English speaker.

The process to appoint a permanent CEO and CFO has commenced, and further announcements will be made in due course as appropriate.

For further information, please contact:

ICFG LimitedVia IFC

Strand Hanson Limited (Financial Adviser)Rory Murphy / Abigail Wennington / David Asquith+44 (0) 207 409 3494

Novum Securities (Broker)Jon Bellis / Colin Rowbury+44 (0) 207 399 9400

IFC Advisory Limited (Financial PR and IR)Tim Metcalfe / Zach Cohen+44 (0) 203 934 6630

LEI: 213800C7BC4EZQAEBT76