Statement of intention not to make an offer

CVC Advisers Limited ("CVC") refers to the announcement made on 1 September 2026 by Vulcan Alpha Bidco Limited and Bodycote plc ("Bodycote") of a recommended firm intention to make an offer for Bodycote pursuant to Rule 2.7 of the Code, and to CVC's announcement of the same date. CVC confirms that it does not intend to make an offer to acquire Bodycote.

CVC is grateful for the constructive engagement shown by the Bodycote Board and management team, and thanks them for the time they have devoted to considering this potential transaction.

This is a statement to which Rule 2.8 of the Takeover Code (the "Code") applies.

Under Note 2 on Rule 2.8 of the Code, CVC reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

• in the event that the offer by Vulcan Alpha Bidco Limited is withdrawn or lapses, with the agreement of the board of Bodycote;
• if a third party announces a firm intention to make an offer for Bodycote;
• if Bodycote announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and
• if there has been a material change of circumstances (as determined by the Takeover Panel).