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 nine months ended September 30, 2026, 2,694,859 and 8,086,344 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 nine months ended September 30, 2025, 75,645 and 183,202 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 September 30,				Nine months ended September 30,
($ in thousands, except share data)	2026		2025		2026		2025
Net income/(loss) attributable to Burford Capital Limited shareholders	$	23,357	$	(19,156)	$	(1,606,508)	$	100,069

Net income/(loss) attributable to Burford Capital Limited shareholders per ordinary share:
Basic	$0.11		($0.09)		($7.33)		$0.46
Diluted	$0.10		($0.09)		($7.33)		$0.45

Weighted average ordinary shares outstanding:
Basic	219,584,624		219,267,032		219,209,774		219,078,742
Dilutive effect of share-based awards and awards under the NQDC Plan	5,554,917		—		—		5,343,727
Diluted	225,139,541		219,267,032		219,209,774		224,422,469