Strategic Equity Capital : Introduction Presentation Q4 2021

Strategic Equity Capital plc

(SEC.LN)

An introduction

February 2022

RISK WARNINGS

You should not rely on any information or opinions contained in this presentation in making an investment or other decision but should obtain appropriate and specific professional advice of your own.

Nothing contained in this presentation constitutes or should be construed to constitute investment, legal, tax or other advice. The information supplied is not and in no way should be construed to constitute a recommendation with respect to the purchase or sale of any investment.

In particular:

Market price may not be fully reflected in underlying net asset value. The value of the investment may go down as well as up and an investor may not get back the full amount invested. Any shares held (even if listed on the London Stock Exchange's market for listed securities) are likely to be illiquid and shareholders may have difficulty in selling them. Past performance is not necessarily a guide to future performance.

There can be no guarantee that investment objectives can be achieved. Portfolio investments in smaller companies typically involves a higher degree of risk. There are potential difficulties in acquiring, valuing, and disposing of underlying investments and information for determining the value or risks may also not be available. The value of the portfolio companies depends on stock market conditions.

Existing tax rules and legislation may change over time and changes can be retrospective. The value of any tax reliefs depends on the personal circumstances of the investors, who should consult their own tax advisers before making an investment.

Whilst the contents of this presentation are provided in good faith for information purposes only, no representation or warranty, express or implied is given by Gresham House Asset Management Limited or by any of its directors, members, or employees as to its accuracy or completeness or that it is up to date, and it should not be relied on as such.

To the fullest extent allowed by law and the rules and regulations of the FCA, Gresham House Asset Management Limited and its directors, members and employees shall not be liable, whether in contract, tort (including negligence) or otherwise howsoever, for any losses, damages, costs or expenses of whatever nature (including (without limitation) any consequential, indirect or unforeseeable loss or loss of bargain, opportunity or profit) incurred or suffered by you or any third party arising out of or in connection with the use of the contents of this presentation.

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IMPORTANT INFORMATION

This presentation (the Presentation) is issued by Gresham House Asset Management Ltd (GHAM), Investment Manager for Strategic Equity Capital plc (SEC) for information purposes only. This Presentation, its contents and any information provided or discussed in connection with it are strictly private and confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose, without the consent of GHAM (provided that you may disclose this Presentation on a confidential basis to your legal, tax or investment advisers (if any) for the purposes of obtaining advice). Acceptance of delivery of any part of the Presentation by you constitutes unconditional acceptance of the terms and conditions of this notice.

This Presentation does not itself constitute an offer to subscribe for or purchase any interests or other securities. This Presentation is not intended to be relied upon as the basis for an investment decision, and is not, and should not be assumed to be, complete. It is provided for information purposes only. Any investment is subject to various risks, none of which are outlined herein. All such risks should be carefully considered by prospective investors before they make any investment decision.

You are not entitled to rely on this Presentation and no responsibility is accepted by GHAM, SEC or any of its directors, officers, partners, members, employees, agents or advisers or any other person for any action taken on the basis of the content of this Presentation. Neither GHAM, SEC or any other person undertakes to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies therein which may become apparent.

No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of GHAM, SEC or any of its respective directors, officers, partners, members, employees, agents or advisers or any other person as to the accuracy or completeness of the information or opinions contained in this Presentation and no responsibility or liability is accepted by any of them for any such information or opinions. Past performance is not indicative of future results. The value of investments may fall as well as rise and investors may not get back the amount invested. Changes in rates of foreign exchange may cause the value of investments to go up or down. No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. Prospective investors should seek their own independent financial, tax, legal and other advice before making a decision to invest.

The internal rates of return or IRRs presented on a gross basis do not reflect any management fees, carried interest, taxes and allocable expenses of the kind that will be borne by investors in a fund, which in the aggregate may be substantial.

Prospective investors are reminded that the actual performance realised will depend on numerous factors and circumstances some of which will be personal to the investor. Statements contained in this Presentation that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of GHAM.

Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, this Presentation contains forward-looking statements. Actual events or results or the actual performance of the Fund may differ materially from those reflected or contemplated in such forward- looking statements.

Certain economic and market information contained herein has been obtained from published sources prepared by third parties and in certain cases has not been updated to the date hereof. While such sources are believed to be reliable, neither GHAM, SEC nor any of its directors, partners, members, officers, employees, advisers or agents assumes any responsibility for the accuracy or completeness of such information.

No person, especially those who do not have professional experience in matters relating to investments, must rely on the contents of this Presentation. If you are in any doubt as to the matters contained in this Presentation you should seek independent advice where necessary. This Presentation has not been submitted to or approved by the securities regulatory authority of any state or jurisdiction.

For the Attention of United Kingdom Investors

This Presentation is intended for distribution in the United Kingdom only to persons who: (i) have professional experience in matters relating to investments, (ii) who are investment professionals, high net worth companies, high net worth unincorporated associations or partnerships or trustees of high value trusts, and (iii) investment personnel of any of the foregoing (each within the meaning of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005).

For the Attention of Investors outside the United Kingdom

This Presentation relates to an Alternative Investment Fund within the meaning of the Alternative Investment Fund Managers Directive and the availability of this Presentation will be subject to registration in relevant jurisdictions as described in the documents relating thereto. Any dissemination or unauthorised use of this Presentation outside the United Kingdom by any person or entity is strictly prohibited.

Please contact a member of the Gresham House team if you wish to discuss your investment or provide feedback on this document. Gresham House is committed to meeting the needs and expectations of all stakeholders and welcomes any suggestions to improve its service delivery. www.greshamhouse.com

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STRATEGIC EQUITY CAPITAL PLC (SEC)

Application of private equity techniques to small public companies

• Differentiated strategy with highly-concentrated portfolio, deep research focus and engaged approach
• Genuine small cap - a structurally overlooked part of the market
• Long term investment horizon, low portfolio turnover with a quality company focus
• Small-capspecialists with significant public and private equity expertise leveraging Gresham House's broader platform and network
• Leading fund management team with clear objective to drive performance and close discount to NAV leveraging track record of Ken Wotton and the Gresham House Strategic Equity team

Specialist equity fund targeting absolute returns (15% IRR)1 over the medium term.

Low correlation to market and peers.

Defensive characteristics. Tendency to outperform in weaker markets.2

1. Internal target only, there is no guarantee this target will be met
2. Morningstarhttp://performance.morningstar.com/funds/cef/ratings-risk.action?t=SEC®ion=gbr&culture=en-US&ownerCountry=USA- as at 31 December 2021
   Past performance is not necessarily a guide to future performance. Portfolio investments in smaller companies typically involve a higher degree of risk.

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WELL-INVESTED SPECIALIST

SMALL COMPANY INVESTMENT PLATFORM

Public Equity team - 6 investment professionals

Private Equity team - 20 investment professionals

Ken Wotton	Brendan Gulston	Adam Khanbhai	Laurence Hulse	Amber Stone-Brown	Cassie Herlihy
Managing Director,	Investment Director	Investment Director	Associate Director	Investment Manager	Investment Manager
Public Equity

Investment Committee

Anthony Dalwood Ken Wotton Graham Bird	Tom Teichman Bruce Carnegie-Brown
Chairman
Sustainable Investment team	Powerful

network

Rebecca Craddock-	Jonathan Walker	Rosie French
Taylor	Sustainable	Sustainable
Sustainable Investment	Investment Manager	Investment Manager
Director

Bevan Duncan	Clive Austin	Trevor Hope
Managing Director,	MD - Private	CIO - Private Equity
Strategic Equity	Equity Portfolio

The acquisition of the Mobeus VCT business has significantly enhanced the scale and experience of the private equity team

Operating Partners	Resource platform
		Portfolio	Data
		talent	analytics
		Powerful	Deal
		network	execution
Hazel Cameron	Tamer Ozmen	Operating	Sales and
Head of Portfolio	Technology &	Partners	Marketing
Talent	Investment Partner
		Research/	Finance and
		analysis	Operations

Source: Gresham House plc, as at 31 December 2021

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