Notice of Proposed Interim Payment

No financial outcome disclosed—liquidation notice is purely procedural.

Risk flags

• ●Disclosure risk is high, as the notice omits any information about recovery rates, distributions, or the financial consequences of the liquidation. Without these details, investors cannot assess the value or risk to their holdings.
• ●Execution risk remains, since the process and timeline for the liquidation are not described. Investors have no visibility into the steps required or potential obstacles before any outcome is reached.
• ●Procedural risk exists because the announcement relies on intermediaries to retransmit the notice to beneficial owners, increasing the chance that some holders may not receive timely or complete information.

Bottom line

This announcement is purely procedural and provides no actionable financial information for investors. The lack of detail on recovery, distribution, or timing means holders of the EUR 250,000,000 securities are left without any basis to assess the impact of the liquidation. The credibility of the narrative is neutral, as it makes no claims beyond the fact of liquidation and the existence of the securities. Investors should not interpret this as a signal of value realization or loss, but rather as a notification of process. To change this assessment, the company would need to disclose specific financial outcomes or timelines. The single most important takeaway is that no financial guidance or outcome is provided—this is an administrative update only.

Announcement summary

(LSE/AIM:49AC) Lehman Brothers UK Capital Funding II LP issued a notice regarding the liquidation of LB GP No.1 Ltd and its implications for holders of EUR 250,000,000 Euro Fixed Rate Guaranteed Non-Voting, Non-Cumulative Perpetual Preferred Securities ("LP II Securities"). The notice is dated 5 August 2026 and is addressed to the registered and beneficial owners of the subject securities. The ISIN for the LP II Securities is XS0229269856. The formal notice can be accessed via a provided PDF link. Matthew Haw of RSM UK Restructuring Advisory LLP is named as Joint Liquidator of LB GP No.1 Ltd. The announcement was distributed by RNS, the news service of the London Stock Exchange, and is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. No forward-looking statements or projections are included in the notice.

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