Company Announcements

Forward Partners Group plc

("Forward", the "Company" or the "Group")

Related Party Transaction

Forward Partners, the London-based investment firm specialising in supporting high growth, early-stage technology businesses, announces details of the following related party transaction.

In connection with the Group's restructuring ahead of its AIM IPO in July 2021, Forward's Chairman, Jonathan McKay, sold his existing carried interest in the Group's initial portfolio back to Forward Partners Carried Interest General Partner Limited, in consideration for the issue of 500,000 ordinary shares in the Company (the "Carried Interest Disposal"). The Carried Interest Disposal was agreed to support good standards of corporate governance and to ensure Mr McKay would not be unduly incentivised.

The Carried Interest Disposal gave rise to a personal tax liability for Mr McKay of £98.201.38 (the "Tax Liability"). At the time of the Carried Interest Disposal, the Company agreed with Mr McKay that it would pay the Tax Liability on his behalf, funded through existing cash resources, for repayment by Mr McKay in March 2022. Other than repayment, there were no terms attached to the assumption of the Tax Liability by the Company. The independent directors of the Company (the "Independent Directors", being all directors except for Mr McKay) have now agreed that the repayment of the Tax Liability be extended to 30 June 2022 the "Repayment Extension").

The payment by the Company of the Tax Liability in July 2021 constituted a related party transaction pursuant to AIM Rule 13. The Independent Directors consider, having consulted with Liberum, the Company's nominated adviser, that the terms of the related party transaction (being the payment of the Tax Liability, together with the Repayment Extension) were fair and reasonable insofar as the Company's independent shareholders are concerned.

Notes to editors:

About Forward Partners

Founded in 2013, Forward Partners is an established and respected London-based investor, specialising in supporting high growth, early-stage technology businesses.

The Group brings together venture capital provider Forward Ventures, equity-free revenue-based financing through Forward Advances and highly specialised growth support from Forward Studio. This model supports founders to build stronger businesses faster to provide better outcomes for companies and investors alike.

The Group makes equity investments in early-stage, high growth UK companies, and from inception to its admission to London's AIM market in July 2021 had made over 60 unique investments and built a portfolio with an Initial Portfolio NAV in excess of £100m. It holds an eight-year track record of making venture capital investments, and targets underlying NAV growth of 20% per annum over the cycle.

The management team brings together highly experienced venture capitalists, entrepreneurs, and expert consultants. Since 2015, Forward Partners has been backed by BlackRock, one of the largest institutional investors in the world. The Group receives over 4,000 start-up funding applications every year.

For more information, visit https://forwardpartners.com.