REG-Reducing management fee cap by 20% over two years to 1.00% of NAV

ICG Enterprise TrustAnnouncement

Tue 09:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260602:nGNE7QYZCF&default-theme=true


ICG Enterprise Trust plc

2 June 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS IT FORMS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

Reducing management fee cap by 20% over two years to 1.00% of NAV

ICG Enterprise Trust plc (the “Company”) announces that it has agreed a
20% reduction in the management fee cap payable to ICG Alternative Investment
Limited (the “Manager”), a subsidiary of ICG plc, which will be
implemented in two stages:

      1)   From 1 February 2027 the management fee cap will be
reduced to 1.125% of NAV; and 
      2)   From 1 February 2028 the cap will be reduced to 1.00% of
NAV.

Jane Tufnell, Chair of the Company, commented:
“I am pleased that ICG Enterprise Trust plc is announcing a 20% reduction in
the management fee cap, which reflects the Board’s and Manager’s continued
focus on delivering value for shareholders.”

The management fee, which is currently capped at 1.25% of NAV, resulted in
£16.1m being paid to the Manager for FY26. As an illustration, had the 1.00%
management fee cap been in place during this period, management fees would
have been reduced by 20% (approximately £3.2m)(1).

The management fee will continue to be calculated and paid quarterly.

All other agreements between the Company and Manager, including the cost
sharing agreement announced on 2 February 2023, remain unchanged.

The person responsible for making this announcement on behalf of the Company
is Andrew Lewis.

(1)Had the management fee cap been 1.125%, management fees for FY26 would have
been reduced by 10% compared to FY26, resulting in a saving of £1.6m

Enquiries

 Analyst / Investor enquiries:                                     
 Chris Hunt, Shareholder Relations, ICG      +44 (0) 20 3545 2020  
 Andrew Lewis, Company Secretary, ICG        +44 (0) 20 3545 1344  
                                                                   
 Media:                                                            
 Clare Glynn, Corporate Communications, ICG  +44 (0) 20 3545 1395  
                                                                   
 Website:                                                          
 www.icg-enterprise.co.uk                                          

About ICG Enterprise Trust

ICG Enterprise Trust is a leading listed private equity investor focused on
creating long-term compounding growth by delivering consistently strong
returns through selectively investing in profitable, cash-generative private
companies, primarily in Europe and the US.

We invest in companies directly as well as through funds managed by ICG and
other leading managers who focus on creating long-term value and building
sustainable growth through active management and strategic change.

We have a long track record of delivering strong returns through a flexible
mandate and highly selective approach that strikes the right balance between
concentration and diversification, risk and reward.

Disclaimer

This report may contain forward looking statements. These written materials
are not an offer of securities for sale in the United States. Securities may
not be offered or sold in the United States absent registration under the US
Securities Act of 1933, as amended, or an exemption therefrom. The issuer has
not and does not intend to register any securities under the US Securities Act
of 1933, as amended, and does not intend to offer any securities to the public
in the United States. No money, securities or other consideration from any
person inside the United States is being solicited and, if sent in response to
the information contained in these written materials, will not be accepted