Results of Secondary Placing in PensionBee

Further to the announcement of 20 June 2024, Romi Savova, Jonathan Lister Parsons and Mark Wood CBE (together the "Selling Block") announce that, following reverse inquiry to increase the institutional ownership of and liquidity in the Company's shares, they have placed in aggregate 5.6 million ordinary shares in PensionBee (the "Placing Shares") at a price of 153.5 pence per share (the "Placing"), with institutional investors. The Placing price presents a nil discount to the mid-market closing price on 20 June 2024.

The Placing was significantly oversubscribed and was strongly supported by both existing and new institutional investors. Following the Placing, the Company's free float increased to approximately 50% and its institutional shareholder base increased to approximately 35% of the share capital.

The Placing Shares represent approximately 2.5 per cent. of the Company's current issued ordinary share capital. Following the completion of the Placing, the Selling Block will reduce their ownership of the Company's ordinary shares from 42.8% to 40.3% as follows:

• The current aggregate shareholding of Mark Wood CBE and Persons Closely Associated with him is 2,822,175 ordinary Shares: Mark Wood CBE holds 2,757,175 ordinary shares and Lisa Walden holds 65,000 Ordinary Shares.
• Following completion of the Placing, the aggregate shareholding of Mark Wood CBE and Persons Closely Associated with him will be 2,547,805 ordinary shares, including Mark's 2,482,805 ordinary shares and Lisa Walden's 65,000 ordinary shares.

This is currently intended to be a sole exercise and the Selling Block will be subject to a lock-up for 365 days in relation to all other ordinary shares held by them and any person controlled by or controlling or under common control with them after completion of the Placing (unless consent is granted by the Sole Bookrunner). This is subject to customary exceptions and subject to transfers of ordinary shares issued after the date of this announcement upon the exercise of options under any share option schemes but only to the extent necessary to cover any applicable tax liability arising on exercise of such options.

Stifel Nicolaus Europe Limited (trading as Keefe, Bruyette & Woods) ("KBW") acted as Sole Bookrunner in connection with the Placing. The trade date for the Placing will be 21 June 2024 and settlement is expected to occur on a T+2 basis on 25 June 2024, subject to the satisfaction or waiver of certain customary conditions.

Romi Savova, CEO of PensionBee, commented:

"As part of our ongoing commitment to the public markets and following significant reverse inquiries, we are pleased to have offered additional liquidity to the market, with a focus on increasing institutional share ownership in PensionBee's shares. Following this process, PensionBee's free float will increase to approximately 50% and institutional share ownership will increase to approximately 35%. We are pleased current shareholders continue to increase their ownership of PensionBee and to welcome new shareholders."