The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.

7^th July 2021

Chrysalis Investments Limited ("Chrysalis" or the "Company")

Portfolio Update

Following Wise plc's ("Wise") direct listing today on the London Stock Exchange, the Investment Advisor believes it is important to give the Company's shareholders further clarity over the carrying value of the Company's holding in Wise.

The Company's carrying value of Wise, based on the number of shares at admission, equates to a Wise share price of approximately 511 pence. Per the announcement released by the Company on 6^th July 2021, Wise accounted for approximately 8% of the Net Asset Value of Chrysalis.

Wise has followed a direct listing route to IPO, which involves no new capital being raised. In order to make sufficient liquidity available to enable the process to proceed, along with other principal shareholders, Chrysalis agreed to sell a small part of its pre-IPO position at the auction clearing price. The rest of the Company's position is unencumbered by any selling restrictions.

Richard Watts and Nick Williamson (co-portfolio managers) comment:

"Our engagement with Wise dates back to 2017 - when it was just breaking into profitability - and Wise formed part of Chrysalis's initial portfolio at IPO. As such, we have observed the significant growth in both revenues and profits delivered by Wise for our investors. This has resulted in a rising valuation for Wise and we wish Kristo, Taavet and the team much success in the listed environment as they continue their mission of increasing access to significantly cheaper foreign exchange channels."

-ENDS-

LEI: 213800F9SQ753JQHSW24

A copy of this announcement will be available on the Company's website at

https://www.chrysalisinvestments.co.uk/

The information contained in this announcement regarding the Company's investments has been provided by the relevant underlying portfolio company and has not been independently verified by the Company. The information contained herein is unaudited.

This announcement is for information purposes only and is not an offer to invest. All investments are subject to risk.  Past performance is no guarantee of future returns.  Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.  The value of investments may fluctuate.  Results achieved in the past are no guarantee of future results. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.