Basic earnings/(loss) per ordinary share is calculated by dividing net income/(loss) attributable to Burford Capital Limited shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted earnings/(loss) per ordinary share is calculated using the treasury stock method, which reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares.

For the three and six months ended June 30, 2026, 997,650 and 7,119,145 potential ordinary shares, respectively, related to share-based awards and awards under the NQDC Plan were excluded from diluted weighted-average ordinary shares as their inclusion would have been anti-dilutive.

For the three and six months ended June 30, 2025, 514,320 and 403,041 potential ordinary shares, respectively, related to share-based awards and awards under the NQDC Plan were excluded from diluted weighted-average ordinary shares as their inclusion would have been anti-dilutive.

The table below sets forth the computation for basic and diluted net income/(loss) attributable to Burford Capital Limited per ordinary share for the periods indicated.


	Three months ended June 30,				Six months ended June 30,
($ in thousands, except share data)	2026		2025		2026		2025
Net income/(loss) attributable to Burford Capital Limited shareholders	$	2,204	$	88,296	$	(1,629,865)	$	119,225

Net income/(loss) attributable to Burford Capital Limited shareholders per ordinary share:
Basic	$0.01		$0.40		($7.44)		$0.54
Diluted	$0.01		$0.39		($7.44)		$0.53

Weighted average ordinary shares outstanding:
Basic	219,193,548		218,669,697		218,979,866		218,983,036
Dilutive effect of share-based awards and awards under the NQDC Plan	5,893,995		5,313,382		—		5,064,601
Diluted	225,087,543		223,983,079		218,979,866		224,047,637