Spice Private Equity : September 29, 2022 – Successful settlement of Public Tender Offer

Ad hoc announcement pursuant to Art. 53 LR

Spice Private Equity Board of Directors resolves to delist from SIX Swiss Exchange and to file an application for exemptions from certain publicity requirements

Zug, 25 October 2022

Spice Private Equity Ltd (the "Company"; ticker symbol "SPCE") today announces that its Board of Directors has resolved to delist the Company's shares from SIX Swiss Exchange. The Board of Directors will submit the respective application to SIX Exchange Regulation in the coming days. The delisting shall be conditional on the cancellation of the remaining publicly held shares in the Company by way of squeeze-out to be initiated by its majority shareholder GP Swiss Ltd ("GP").

The Board of Directors' decision has been taken before the background of GP's very significant shareholding and conversely the very low free float after the successful completion of the public tender offer in accordance with the transaction agreement of 1 June 2022 between the Company and GP.

The Board of Directors of the Company has further resolved to file an application to SIX Exchange Regulation for an exemption from certain publicity requirements under the SIX listing rules today.

For further information, please contact:

Rodrigo Boscolo

Investor & Media Relations

Phone: [phone]

Email: [e-mail]

Web: www.spice-private-equity.com

About Spice Private Equity Ltd.

Spice Private Equity Ltd. is an investment company focused on global private equity investments. The company's investments are managed by GP Advisors (Bermuda), Ltd., a whole subsidiary of GP Investments, Ltd. a leading alternative investments firm known for its operationally oriented approach and active management model. Spice Private Equity Ltd. is listed on the SIX Swiss Exchange under the ticker symbol SPCE.

Disclaimer

This ad hoc information contains forward-looking statements, which involve certain risks, uncertainties and changes that cannot be foreseen and are beyond Spice Private Equity Ltd's ability to control. Therefore, Spice Private Equity Ltd cannot provide any assurance with respect to the correctness of such forward-looking statements and their effects on the financial situation of Spice Private Equity Ltd or on the market in which the shares and other securities of Spice Private Equity Ltd are traded.

This media information does not constitute an offer, invitation or solicitation to sell, purchase or subscribe for any securities. It is not being issued in countries where the dissemination of the information contained herein may be restricted or prohibited by law. In particular, this media information is not for release, publication or distribution in or into the United States of America, Australia, Canada or Japan (or to persons whose place of residence, seat or habitual abode is in any of those countries) and should not be released, published or distributed to U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended).

Any non-compliance with such restrictions may result in an infringement of U.S. or other securities laws. Securities of Spice Private Equity Ltd ("Company") are not being publicly offered outside of Switzerland. This document does not constitute a prospectus according to the Swiss Federal Act on Financial Services.

This communication is not being made by, and has not been approved by, an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000, as amended. In the United Kingdom, this communication is directed only at persons (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"), (ii) falling within article 49(2)(a) to (d) 10/11 ("high net worth companies, unincorporated associations, etc.") of the Order or (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). Accordingly, this communication is not being distributed to, and must not be passed on to, the general public in the United Kingdom. This communication must not be acted on or relied on in the United Kingdom by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only in the United Kingdom to relevant persons and will be engaged in only with relevant persons. Reference is made to the offer prospectus regarding the public tender offer published today for full offer restrictions.