Financial Data and Key Metrics Changes - The company reported a significant increase in revenue year over year, with capital provision income up 5x compared to the first quarter of the previous year [9][10] - Realizations for the quarter reached $163 million, marking a strong cash generation activity [8][29] - Earnings per share improved to $0.14, compared to a loss of $0.14 in the same period last year [25] Business Line Data and Key Metrics Changes - The principal finance segment and asset management segment both contributed positively, with asset management income increasing to $14 million from $7 million quarter over quarter [33] - New definitive commitments totaled $158 million, a significant increase from $55 million in both the first quarters of 2023 and 2024 [29] Market Data and Key Metrics Changes - The company noted that approximately 85% of its trading volume is now occurring in the U.S. market, reflecting a shift in market dynamics [12] - The company is experiencing a favorable environment for capital solutions as businesses are more reluctant to incur high legal fees during periods of market stress [40][41] Company Strategy and Development Direction - The company is focusing on a diversified portfolio across various risk metrics, jurisdictions, and types of counterparties, which is expected to enhance long-term performance [17] - The management emphasized the importance of long-term performance over quarterly results, indicating a strategic focus on sustainable growth [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the current operating environment, noting that periods of market turbulence often create opportunities for litigation and arbitration [41][42] - The company is well-positioned with significant liquidity to capitalize on new business opportunities as they arise [8][35] Other Important Information - The company addressed concerns regarding the re-election of directors and the ISS recommendations, urging shareholders to consider their own interests [13][14] - The company is managing a healthy liquidity position with $103 million due from settlements and ample cash to address upcoming debt maturities [35][39] Q&A Session Summary Question: Clarification on IMF agreement related to YPF settlement - Management clarified that while the IMF does not require resolution of debts as a condition for disbursements, there must be good faith efforts to resolve them [49] Question: Insight into new commitments and litigation types - Management indicated that the new commitments included a significant portion related to a new U.S. Claim family, which is expected to enhance the portfolio [50][51] Question: Factors contributing to unrealized gains from YPF assets - Management noted that the increase in unrealized gains was partly due to the growth in the company's interest in the Eaten Park corpus during the liquidation process [54][55] Question: Clarification on the nature of new claim families - Management explained that claim families involve multi-party litigation, which allows for efficiency in handling similar claims [60][61] Question: Understanding the impact of new commitments on portfolio growth - Management acknowledged that high levels of realizations may lead to periods where the overall portfolio does not grow significantly, but emphasized the importance of long-term growth [66][68]

Financial Data and Key Metrics Changes - The company reported a significant increase in revenue year over year, with capital provision income up 5x compared to the first quarter of the previous year, and a total of $163 million in realizations [7][25][27] - Earnings per share improved to $0.14, compared to a loss of $0.14 in the same period last year, driven by realized and unrealized gains [21][24] Business Line Data and Key Metrics Changes - The principal finance segment and asset management segment both contributed to the overall performance, with asset management income rising to $14 million from $7 million quarter over quarter [31][22] - New definitive commitments reached $158 million, a significant increase from $55 million in both the first quarters of 2023 and 2024 [27][28] Market Data and Key Metrics Changes - The company noted a healthy deployment of $126 million, with a strong focus on both existing cases and new matters [26][27] - The average discount rate used to present value the portfolio improved by approximately 20 basis points, contributing positively to the financial results [25] Company Strategy and Development Direction - The company emphasized its long-term focus on cash generation and portfolio performance rather than quarterly results, indicating a strategy that balances high-risk and lower-risk investments [8][15] - The management highlighted the importance of adapting to market conditions, stating that periods of economic stress can create opportunities for litigation financing [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, noting that the current economic environment could lead to increased demand for the company's services as businesses seek capital solutions [38][39] - The company is positioned well with a significant amount of liquidity, allowing for continued investment in new business opportunities [7][32] Other Important Information - The company addressed shareholder concerns regarding the reelection of directors and compensation structures, urging shareholders to consider their recommendations carefully [11][12] - The management discussed ongoing litigation related to YPF and the implications of the IMF agreement, indicating a proactive approach to resolving outstanding debts [17][18] Q&A Session Summary Question: Is the IMF agreement contingent upon addressing the YPF settlement? - The management clarified that while the IMF does not require resolution of debts as a condition for disbursements, there must be good faith efforts to resolve them [47] Question: Can you provide insight into the types of business added in the quarter? - Management indicated that the new commitments included a significant contribution from the launch of a new U.S. Claim family, which is part of their strategy to diversify their portfolio [48][49] Question: Were there other contributing factors to the uplift in YPF related assets? - The increase in valuation was attributed to the growth in the company's interest in the Eaten Park activity, which has been consolidating into their financials [53][54] Question: Is the increase in commitments offsetting deployments? - Management confirmed that while high levels of realizations may lead to periods where the portfolio does not grow significantly, they remain focused on long-term growth [63][66]

Burford Capital First Quarter 2025 Financial Results May 7, 2025 This presentation is for the use of Burford's public shareholders and is not an offering of any Burford private fund. Notice & disclaimer This presentation (this "Presentation") provides certain information to facilitate review and understanding of the business, financial condition and results of operations of Burford Capital Limited (together with its subsidiaries, the "Company", "Burford", "we", "our" or "us") as of and for the three months ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark one) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39511 _________________________ BURFORD CAPITAL LIMITED (E ...

This presentation is for the use of Burford's public shareholders and is not an offering of any Burford private fund. Notice & disclaimer This presentation (this "Presentation") provides certain information to facilitate review and understanding of the business, financial condition and results of operations of Burford Capital Limited (together with its subsidiaries, the "Company", "Burford", " we", " our" or " us") as of and for the three months ended March 31, 2025 and does not purport to be a complete. de ...

New edition of The Burford Quarterly explores how GCs, law firm leaders and private equity professionals are using finance tools to manage high-stakes litigationNEW YORK, April 30, 2025 /PRNewswire/ -- Burford Capital, the leading global finance and asset management firm focused on law, today releases its latest Burford Quarterly, a journal of legal finance that explores the top trends at the nexus of law and finance. As legal finance continues to be used as a transformative resource for both corporations a ...

Core Insights - The research highlights that many companies are not fully leveraging their patent portfolios, leading to significant missed financial opportunities and ongoing costs that could be mitigated through monetization [2][4] - There is a growing trend among companies to adopt proactive patent monetization strategies in response to economic pressures and rising costs associated with maintaining large patent portfolios [2][4] Patent Monetization Trends - Nearly 70% of in-house lawyers indicate that their organizations are more likely to monetize patents today compared to a decade ago, with 73% reporting an increase in revenue from patent monetization over the last 10 years [2][4] - 79% of in-house lawyers believe that more than a quarter of their patent portfolio is underutilized, resulting in lost revenue and reduced market share [4] Strategies and Solutions - Divestiture is emerging as a fast-growing strategy for monetization, with 71% of in-house lawyers having already divested patents or actively exploring divestiture options [4] - Legal finance is increasingly recognized as a tool to de-risk direct enforcement, with 72% of law firm lawyers citing high litigation costs as a barrier to pursuing patent claims [4] Role of Legal Finance - 59% of law firm lawyers report that clients utilize legal finance for patent monetization, while 51% of in-house lawyers are planning or exploring the use of legal finance to support patent enforcement and monetization [4] - The research underscores the potential for legal finance to transform underutilized IP assets into liquidity, enabling companies to prioritize innovation [3][4] Global Market Dynamics - The United States remains the leading market for patent monetization due to robust enforcement mechanisms, while the Unified Patent Court (UPC) is expected to enhance enforcement in Europe, with 74% of in-house lawyers anticipating increased activity in the region [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-K ___________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39511 ___________________________ BURFORD CAPITAL LIMITED (Exa ...

Financial Data and Key Metrics Changes - The company reported record cash realizations in 2024, with realizations of $641 million, significantly higher than in 2023 [51][14] - Net realized gains reached $327 million, more than double the average annual net realized gains over the prior four years, indicating strong portfolio performance [53][17] - Operating expenses decreased by approximately 43% from 2023, driven by lower long-term incentive compensation [32][79] Business Line Data and Key Metrics Changes - The Principal Finance segment saw net realized gains of $327 million, a 75% increase compared to the previous year, driven by multiple significant case resolutions [37][15] - The Asset Management segment reported $26 million in receipts, down from $32 million in 2023, reflecting lower revenue recognition tied to fair value movements [76][31] Market Data and Key Metrics Changes - The portfolio has grown at a 15% CAGR over the last five years, with a total value exceeding $5 billion [35][19] - The fair value of the portfolio, excluding YPF, is approximately 31% of deployed cost, indicating potential for future revenue generation [36][41] Company Strategy and Development Direction - The company is focusing on cash generation and portfolio performance, emphasizing the importance of cash realizations over accounting metrics [13][10] - There is a strategic shift towards sharing more about target realizations for new business, aiming for higher returns on investments [20][120] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of the court system post-pandemic, leading to increased portfolio activity and cash realizations [16][88] - The company is confident in maintaining high-quality investments and returns, with a substantial portfolio expected to generate cash flow for years to come [87][86] Other Important Information - The transition to U.S. domestic filer status will enhance transparency and reporting, with a focus on segment reporting for better clarity [23][26] - The company maintains a strong capital structure with approximately $1.8 billion in outstanding debt, well below covenant levels [84][79] Q&A Session Summary Question: Clarification on unrealized losses in the quarter - Management confirmed that unrealized losses were primarily driven by discount rate changes and the movement from unrealized to realized gains [91][92] Question: Nature of commitments entered into during the quarter - Management noted a diverse range of opportunities, with a mix of lower-risk, shorter-duration investments and higher-risk, longer-duration cases [93][96] Question: Implications of the new U.S. administration - Management indicated that litigation finance remains accepted in the U.S. market, with no significant regulatory concerns anticipated [108][109] Question: Status of YPF-related assets - Management stated that the ongoing enforcement process is being closely monitored, with no additional comments on the RA-4 intervention [107][74]

March 3, 2025 Burford Capital Fourth Quarter and Full Year 2024 Financial Results This presentation is for the use of Burford's public shareholders and is not an offering of any Burford private fund. Notice and disclaimer This presentation (this "Presentation") provides certain information to facilitate review and understanding of the business, financial condition and results of operations of Burford Capital Limited and its subsidiaries (the "Company", "Burford", "we", "our" or "us") as of and for the three ...