Discussions with Potential Offerors;Buyback update

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"). THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE NOR AS TO THE TERMS ON WHICH ANY FIRM OFFER MIGHT BE MADE.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Discussions with Potential Offerors and Update Regarding Buyback Programme

On 14 January 2026, Senior plc (the "Company" or "Senior") received a preliminary, non-binding all-cash proposal from a potential offeror, which was unanimously rejected by the Board on the basis that it fundamentally undervalued Senior and its future prospects. Two subsequent, higher proposals were received from the same party in February 2026, the second of which was unequivocally rejected by the Board.

Following the approaches described above, the Board appointed Lazard and Jefferies to initiate discussions with a limited number of third parties regarding a possible offer for the entire issued and to be issued share capital of Senior, to determine the value that could potentially be achieved. Following a period of discussions with these other parties, the Company confirms it has received two further, superior all-cash proposals from other potential offerors. Discussions with potential offerors remain ongoing.

In view of the Company's ongoing discussions with the potential offerors, and mindful of the Company's regulatory obligations, the Board has postponed the start of the £40m buyback programme which had been due to commence following publication of the full year results. The Board will keep this under review and make a further announcement as necessary.

The Panel Executive has granted a dispensation from the requirements of Rules 2.4(a) and 2.4(b) of the Code such that the Company is not required to identify in any announcement any potential offeror with which the Company is in talks, or from which an approach has been received, unless that potential offeror has been specifically identified in any rumour or speculation.

There can be no certainty that an offer will be made for the Company nor as to the terms on which any offer might be made.

This announcement has been made without the consent of any of the potential offerors.

Notices related to the financial advisers

Rule 2.9 disclosure

Rule 26.1 information