Burford Capital Update on Successful Capital Raise

Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, today provides the following update. Burford has now closed its $300 million debt issuance announced and priced on Monday, September 14, and provides commentary on that issuance and its future balance sheet plans. Monday's issuance – which was achieved in less than six hours - was well-received by the market. The order book was around ten times oversubscribed, and the coupon was materially reduced from initial indications. Burford will use all $300 million of new capital along with a further $100 million from our cash on hand to retire next week the April 2028 $400 million debt maturity in full. Taken together, these actions reduce Burford's total debt outstanding by $100 million, retire the Company's nearest debt maturity nineteen months ahead of schedule and leave Burford with more than three years until its next debt maturity.

In recent months, investor attention has largely re-focused on the sound fundamentals of our cash-generative core business. However, while credit spreads on Burford's debt have tightened meaningfully, they were not yet at a level where a traditional long-term refinancing of the forthcoming 2028 maturity was attractive – and addressing that maturity now lets the market to move past its focus on it. Moreover, this transaction is part of Burford's publicly announced goal to de-lever over time, and the minimum size imposed by the market for a traditional and liquid longer-term refinancing issuance would not have been consistent with that goal. Instead, this transaction captured a more attractive coupon with a shorter-term issuance, which will also line up nicely with the April 2030 debt maturity, which Burford believes will support more traditional refinancings in the future at the appropriate time. In the interim, Burford also intends to engage in additional de-leveraging transactions following next week's redemption of Burford's 2028 notes, which may include open market purchases of outstanding debt, on an opportunistic basis and subject to market conditions, while also continuing to grow its core business.

Christopher Bogart, Burford's Chief Executive Officer, commented: "This closes a noisy chapter. Certainly, the appellate decision in the YPF matter was surprising and disappointing – and wrong, in our view – and we will continue to pursue a positive outcome in the case, with a petition to the US Supreme Court being filed by the end of September. But nothing in that decision touched our core business - the large portfolio of assets we look to for our returns and our debt service - and that portfolio has continued to perform. We trust that the removal of this final distraction – a near-term debt maturity – and the overwhelming support for our new issue will now allow the market to focus entirely on the long-term value of this business, which for 17 years has been producing high returns on its investments and has brought back nearly $4 billion of cash for the balance sheet, with billions more to come."

About Burford Capital Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the New York Stock Exchange (NYSE: BUR ) and the London Stock Exchange (LSE: BUR) and works with companies and law firms around the world from its global network of offices. For more information, please visit www.burfordcapital.com .