Increase in Annual Dividend Targets

7 March 2023

CVC Income & Growth Limited (the “Company”)

(a closed-ended investment company incorporated in Jersey with registration number 112635)

Registered Office: IFC 1, The Esplanade, St Helier, Jersey, JE1 4BP

Increase in Annual Dividend Targets

The information contained within this announcement constitutes inside information.

Further to the Company’s announcement made on 30 January 2023, the Board of Directors has completed its review of the Company’s annual dividend targets, given the significantly elevated cash yield being produced by the Investment Vehicle’s underlying portfolio. As a consequence, the Company’s annual dividend targets are being increased to 7.5p per ordinary Sterling Share and 7c per ordinary Euro Share with immediate effect. This means that the Company’s quarterly dividends will be increased to 1.875p per Sterling Share and 1.75c per Euro Share, including the Company’s first quarter 2023 dividends, payable in the second quarter of 2023. At the current share prices[1], this implies 2023 annual dividend target yields of 7.42% / 7.86% for the Sterling and Euro Share classes respectively.

The Chairman of the Company, Richard Boléat, commented: “The Board of Directors has given detailed consideration, not only to the current cash yield of the Investment Vehicle’s underlying portfolio by principal reference to its weighted average coupon, but also to market expectations around future trends in default rates and the direction of risk-free rates in the Company’s chosen markets, given the Company’s predominantly floating rate exposure. The Board is mindful that shareholders expect changes to dividend targets to be made on a sustainable basis, and thus, in the absence of significant and relevant unexpected macroeconomic or geopolitical events, the Company’s annual dividend targets will not be changed for at least the next 12 months.”

Mr Boléat added “The Board of Directors has also resolved, in the event that the Investment Vehicle portfolio produces surplus cash income beyond that currently forecasted, that an upwards only adjustment will, if appropriate, be made to the Company’s fourth quarter 2023 dividends payable in the first quarter of 2024, in a manner similar to that recently announced in respect of the fourth quarter of 2022. There should be no expectation as to the level of any such adjustments or indeed whether such adjustments will arise at all.”

The person responsible for arranging for the release of this announcement on behalf of the Company is Sharon A Williams of BNP Paribas S.A., Jersey Branch, Company Secretary.

Enquiries:

CVC Income & Growth Limited:                                                            44 (0)1534 625 522

Richard Boléat

BNP Paribas S.A., Jersey Branch:                                                    cvccpeolcosec@bnpparibas.com