Equity Issuance

For Immediate Release

24 January 2024

ROGUE BARON PLC

("Rogue Baron" or "the Company")

Equity Issuance

Rogue Baron PLC (AQSE: SHNJ), a leading company in the premium spirit sector, announces that it has issued 3,928,571 ordinary shares to certain consultants and creditors of the Company.

Admission to Aquis Growth Market

Application will be made for the 3,928,571 new ordinary shares to be admitted to trading on the Aquis Growth Market ("Admission"). It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 29 January 2024. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 116,286,263 ordinary shares with voting rights. The Company does not hold any ordinary shares in treasury. The figure of 116,286,263 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The Directors of the Company accept responsibility for the contents of this announcement.

For further information, please contact:

Ryan Dolder

[e-mail]

Aquis Growth Market Corporate Adviser:

Peterhouse Capital Limited

Guy Miller [phone]

Aquis Growth Market Corporate Broker:

Peterhouse Capital Limited

Lucy Williams [phone]

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