Gramercy Funds Management LLC Names Financial Markets Industry Executive, Tom Humphrey President and Bill Foley Managing Director, Business Development

GREENWICH,Conn.,March 2,2023 --Gramercy Funds Management LLC ("Gramercy"),a $5 billion dedicated,global emerging markets investment manager,today announced that Tom Humphrey has joined the firm in a newly created role,President of Gramercy. Mr. Humphrey will be responsible for the implementation of the firm's commercial and capital formation strategy for growth including (i) origination,sourcing,and structuring of differentiated investment opportunities (ii) further developing existing relationships with key sell-side counterparties to identify portfolio investments consistent with Gramercy's long-term track record of success while leveraging the firm's best in class portfolio management capabilities,(iii) enhancing the firm's existing high quality global investor relationships,accelerating the plan for new client acquisitions going forward,and (iv) designing and implementing strategic initiatives to solidify Gramercy's position as one of the industry's leading global alternative asset managers. Additionally,Mr. Humphrey will be a Senior Partner and serve as a member of the firm's Management Committee.

Gramercy also announced that Bill Foley will be joining the firm as a Managing Director and senior member of the Gramercy Business Development Team. Mr. Foley has enjoyed an accomplished career in investment banking and global financial markets. Mr. Foley will be responsible for helping build out the firm's strategy in diversifying its capital base and strategic initiative while expanding the firm's family office client acquisition plan.

"We are thrilled to have Tom and Billjoin the Gramercy team," said Robert Koenigsberger,Managing Partner and Chief Investment Officer of Gramercy. "After having known and worked with Tom for over 25 years,it is clearhe is an industry veteran with invaluable knowledge,experience and understanding of markets. His reputation and experience growing businesses,together with his dedication to client-oriented solutions,will be indispensable to Gramercy.Bill is an extremely experienced markets professional and widely respected for his private markets expertise and commercial skill. We have already developed a strong working relationship with Bill as he was retained to launch a capital raise for the Gramercy Special Situations Team. Both Tom and Bill will be significantly impactful inhelping us continue to deliver on our mission to positively impact the well-being of our clients,portfolio investments and team members."

"I am delighted that Tom and Bill are joining Gramercy," said Mohamed A. El-Erian,Chair of Gramercy. "Their mix of extensive investment and business experience strengthens Gramercy's partnerships and expertise,helping to serve a deeper and wider range of clients and counterparts."

Mr. Humphrey brings experience in financial markets across sales,trading,research,capital markets and investment management. He has served in several business management leadership roles. His broad industry expertise and relationships globally will be immediately additive to the team at Gramercy. Mr. Humphrey began his career at Lehman Brothers in 1986 and was named Global Head of Fixed Income Sales in 2003 and was responsible for distribution across the Americas,Europe and the Middle East,and Asia. During this period,he oversaw the growth and management of one of the industry's top-ranked global capital markets businesses and served as a member of Lehman Brother's Global Management Committee. After the integration of Lehman Brothers with Barclays Capital,Mr. Humphrey was Partner and Global Head of Business Development for GoldenTree Asset Management. Mr. Humphrey also served as Head of Corporate Banking and Securities Americas,and CEO of Deutsche Bank Securities U.S. Mr. Humphrey then joined Guggenheim Securities as Senior Managing Director where he built out the firm's corporate credit businesses. Most recently,he was a Managing Director at BTIG,where he helped Gramercy launch their litigation finance investment strategy and worked with Gramercy senior management and portfolio management teams.

Mr. Foley brings 30 years of experience. He was Vice Chairman,Senior Managing Director,and Global Head of Equity Sales at Evercore/ISI. He served on the Investment Policy Committee and the Operating Committee. Prior to Evercore,Bill was a Managing Director at Deutsche Bank and Morgan Stanley. In that role,he built and managed the Alternative Asset sales effort. Prior to these roles,Bill was Head of Global Institutional Sales at Deutsche Bank. Most recently Bill was also Managing Director at BTIG and a member of the firm's Senior Relationship Management.

"Over the last 25 years,Gramercy has successfully established the firm as a prominent global emerging markets asset manager," added Mr. Humphrey. "The entire Gramercy investment team is well respected for their innovative and rigorous deep-value investment process. I am excited to be joining the Gramercy team that remains uniquely positioned to take advantage of the current complex global emerging markets,and continues to earn the trust,support,and confidence of their clients. I have known Robert and his team for 25 years,and I am highly confident in the firm's strategy and plan for the future. Gramercy has built its reputation as a thought leader in global emerging markets,and it is a privilege to have this opportunity to partner with this team of exceptionally talented professionals."

Mr. Humphrey holds a Bachelor's degree in Political Science from Fordham University and is a member of the Fordham University Presidents Council Executive Committee. He is Chairman of the American Junior Golf Association ACE Grant Foundation. Mr. Foley holds a B.S. in Business Administration from Villanova University. He serves various foundations including The Navy Seal Foundation and St. Ignatius Loyola School.

About Gramercy:

Gramercy is a dedicated emerging markets investment manager based in Greenwich,Connecticut with offices in London,Buenos Aires,Miami,West Palm Beach and Mexico City,and dedicated lending platforms in Mexico,Turkey,Peru,Pan-Africa,Brazil,and Colombia. The $5 billion firm,founded in 1998,seeks to provide investors with attractive risk-adjusted returns through a comprehensive approach to emerging markets supported by a transparent and robust institutional platform. Gramercy offers alternative and long-only strategies across emerging markets asset classes including multi-asset,private credit,public credit,and special situations. Gramercy's mission is to positively impact the well-being of our clients,portfolio investments and team members. Gramercy is a Registered Investment Adviser with the SEC and a Signatory of the Principles for Responsible Investment (UNPRI). Gramercy Ltd,an affiliate,is registered with the FCA. www.gramercy.com

For Further Information Contact:

Investors:

Lacie Smith

Gramercy

203-552-1928

lsmith@gramercy.com

Media:

Steve Bruce

ASC Advisors

203-992-1230

sbruce@ascadvisors.com