An anonymous director reports

QUEEN'S ROAD CAPITAL ANNOUNCES SHARE CONSOLIDATION

Queen's Road Capital Investment Ltd., further to the company's news release of Dec. 12, 2024, and following receipt of the requisite shareholder approvals at the company's annual general meeting on Jan. 10, 2025, is proceeding with a consolidation of the issued and outstanding common shares of the company on the basis of one postconsolidated share for every 10 preconsolidated shares. No fractional shares will be issued as any fractional share will be rounded up or down to the nearest whole number. The new Cusip number for the company's common shares will be G7315B 12 9 and the new ISIN will be KY G7315B 12 9 7. The company's common shares that bear a Regulation S restrictive legend will have the new Cusip No. G7315B1 37 0 and the new ISIN KY G7315B 13 7 0. The company's name and stock symbol will remain unchanged following the consolidation.

The consolidation will be effective at the opening of markets on Jan. 15, 2024. As a result of the consolidation, the 490,401,845 shares that are currently issued and outstanding will be reduced to approximately 49,040,184 shares, subject to rounding.

Shareholders who hold their shares through a securities broker or other intermediary and do not have shares registered in their name will not be required to take any measures with respect to the consolidation. Letters of transmittal with respect to the consolidation will be mailed to all registered shareholders of the company. All registered shareholders who submit a duly completed letter of transmittal along with their respective share certificates representing the preconsolidated shares to the company's transfer agent, Computershare Investor Services Inc., will receive a certificate representing the postconsolidated shares.

About Queen's Road Capital Investment Ltd.

Queen's Road is a dividend-paying, leading financier to the global resource sector. The company is a resource-focused investment company, making investments in privately held and publicly traded companies. The company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in advanced development or production located in politically safe jurisdictions.

We seek Safe Harbor.