Dealing Disclosure under Rule 8 Takeover Code

In brief · summary, not quotable

Director Mike Maddison purchased 87,281 shares and sold 41,168 shares on 29 January 2026.

Shares purchased 87,281
Shares sold 41,168
Sale price per share £1.419
Current shareholding 218,283 (0.069%)
Nil-cost options held 2,809,190
Deferred bonus nil-cost options held 289,864

Full announcement

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KEY INFORMATION

			(a) Full name of discloser:	Mike Maddison
			(e) Date dealing undertaken:	29 January 2026
2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
Class of relevant security:				Ordinary Shares of 1 pence each
``			Interests	Short positions
Number		%	Number	%
(1) Relevant securities owned and/or controlled:	218,283	0.069	Nil	-
(2) Cash-settled derivatives:	Nil	-	Nil	-
TOTAL:	218,283	0.069	Nil	-

All interests and all short positions should be disclosed.

Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:

Ordinary Shares of 1 pence each

Details, including nature of the rights concerned and relevant percentages:

Name Number of ordinary shares under option/award Type of award/share plan Grant date Exercise price Vesting date Lapse date Mike Maddison 745,868 Nil-cost options subject to performance 23 January 2026 Nil 1 October 2028 22 January 2036 Mike Maddison 1,140,954 Nil-cost options subject to performance 11 June 2024 Nil 1 October 2027 30 June 2034 Mike Maddison 822,368 Nil-cost options subject to performance 30 October 2023 Nil 1 October 2026 29 October 2033 Mike Maddison 99,482 Deferred bonus nil‑cost options 23 January 2026 Nil 23 January 2028 22 January 2036 Mike Maddison 59,493 Deferred bonus nil‑cost options 11 December 2024 Nil 11 December 2026 10 December 2034 Mike Maddison 117,983 Deferred bonus nil‑cost options 30 August 2024 Nil 30 August 2026 29 August 2034 Mike Maddison 12,207 Deferred bonus nil‑cost options 4 October 2023 Nil 4 October 2025 3 October 2033 Mike Maddison 18,699 Sharesave (SAYE) 9 April 2024 £0.992 1 June 2027 30 November 2027

DEALINGS BY THE PERSON MAKING THE DISCLOSURE

The currency of all prices and other monetary amounts should be stated.

Purchases and sales

				Class of relevant security	Purchase/sale	Number of securities	Price per unit
Ordinary Shares of 1 pence each					Purchase	87,281	Nil
Ordinary Shares of 1 pence each					Sale	41,168	£1.419
N/A				N/A	N/A	N/A	N/A
(b) Cash-settled derivative transactions
N/A				N/A	N/A	N/A	N/A
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
(ii) Exercise
N/A				N/A	N/A	N/A	N/A
(d) Other dealings (including subscribing for new securities)
N/A					N/A	N/A	N/A

OTHER INFORMATION
Indemnity and other dealing arrangements

None

Agreements, arrangements or understandings relating to options or derivatives

None

Attachments

Are any Supplemental Forms attached?

Supplemental Form 8 (Open Positions)	NO
Supplemental Form 8 (SBL)	NO
Date of disclosure:	03 February 2026

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

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