Notification of loss of client mandate

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

LEI: 2138005C7REHURGWHW31

For immediate release

15 February 2022

River and Mercantile Group PLC(the "Company")

The Company announces that it has received notice from a client of its equities asset management business of the client's intention to redeem approximately £927 million of assets managed by the Company across several global equity strategies. The assets to be redeemed represent annualised revenue to the Company of approximately £2.8 million.

Group Chief Executive, Alex Hoctor-Duncan commented:

"We are an organization focused on moving forward, delivering high quality active equities and infrastructure fund management to our clients. Losing a client is disappointing, but we are gearing up for several fund launches and will welcome Matt Hudson to run our UK income fund at the end of this month. The motivation of the team is apparent, especially now that we are a specialist equities and real assets focused business post the Solutions sale."

The person responsible for arranging for the release of this announcement on behalf of the Company is Sally Buckmaster, the Company Secretary.

Enquiries:

River and Mercantile Group PLC +44 (0)20 3327 5100

Montfort Communications

Gay Collins +44 (0)7798 626282

Nick Bastin +44 (0)7931 500066

[email protected]