Result of Tender Offer

Helios Underwriting plc, the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd's of London, is pleased to announce the result of the Tender Offer, details of which were set out in the circular published by the Company on 29 September 2026 (the "Circular").

The maximum aggregate number of Ordinary Shares that could be purchased pursuant to the Tender Offer was 2,676,579 Ordinary Shares, representing approximately 3.5 per cent. of the Company's issued share capital. Ordinary Shares in excess of the maximum aggregate number of Ordinary Shares were tendered by Qualifying Shareholders and Excess Tenders have been scaled back on the basis set out in the Circular.

Accordingly, a total of 2,676,579 Ordinary Shares will be purchased under the Tender Offer at the Tender Price of 269 pence per Ordinary Share. The total value which will be returned to the Qualifying Shareholders pursuant to the Tender Offer will be approximately £7,199,998.

Subject to the remaining conditions under the Repurchase Agreement having been met, Peel Hunt will purchase 2,676,579 Ordinary Shares by means of an on-market purchase from Qualifying Shareholders. Subject to Peel Hunt requiring the Company to repurchase such Ordinary Shares in accordance with the terms of the Repurchase Agreement, Peel Hunt will then sell the tendered Ordinary Shares acquired by it on to the Company pursuant to the terms of the Repurchase Agreement. All Ordinary Shares acquired by the Company from Peel Hunt under the Repurchase Agreement will be cancelled.

In accordance with the terms of the Tender Offer provided in the Circular, payment of the consideration due to Qualifying Shareholders, whose tenders under the Tender Offer have been accepted, is expected to be made on or around 3 November 2026 in respect of shares held in CREST and also on or around 3 November 2026 by cheque in respect of shares held in certificated form, along with balancing certificates in respect of non-tendered Ordinary Shares held in certificated form.

Total Voting Rights

As detailed in the Circular, all Ordinary Shares purchased pursuant to the Tender Offer will be cancelled. Following the completion of the Tender Offer, the remaining number of Ordinary Shares in issue will be 73,363,432, of which 6,534,046 are held in treasury. Therefore, the total voting rights in Helios will be 66,829,386. This figure for the total number of voting rights may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.