JDC TECHNICAL EVALUATION REPORT

Subject: RiverStone Energy Signals Wind-Down Progress with £30M Compulsory Redemption

Reference: UID6055

Market Authority: London & International Markets

Case Ref: RS-CAP-RED-30

Date: 13th April 2026

Status: IN PROGRESS (Redemption Date: April 27, 2026)

Case Summary (Tier 4): Precision at its finest. RiverStone is returning £30M to investors, marking a successful partial wind-down. By cancelling 34% of issued shares at the December NAV, they are effectively clearing the ledger of excess weight and demonstrating the efficiency of their managed exit protocol.

Case Detail (Tier 5):

The “Trim”: RiverStone is redeeming approximately 34% of its issued share capital (approx. 2.5 million shares).

Price Point: The redemption is executed at 1,194 pence per share, matching the audited Net Asset Value (NAV) as of December 31, 2025.

The Resulting Ledger: Post-redemption, the entity will hold a lean $21M in cash. This is a “Goldilocks” balance—enough to cover the “running costs” of the managed wind-down while returning maximum liquidity to the shareholders.

ISIN Update: The old ticker (GG00BSNRFW06) expires on April 27; the new ledger entry (ISIN: GG00BWZ6KH33) goes live the next day.

Additional Comment:

N/A