Extension of PUSU Deadline under Rule 2.6(c)

THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY FIRM OFFER MIGHT BE MADE.

Team Internet Group plc

("Team Internet")

Extension of PUSU Deadline under Rule 2.6(c) of the Code

On 7 January 2025, the Board of Team Internet (the "Board") announced that it had received two separate approaches from TowerBrook Capital Partners (U.K.) LLP ("TowerBrook") and Verdane Fund Manager AB ("Verdane") respectively regarding possible offers to acquire the entire issued and to be issued share capital of Team Internet.

On 10 January 2025, TowerBrook confirmed that it does not intend to make an offer for Team Internet.

Discussions between Team Internet and Verdane, including undertaking a due diligence review, negotiating the full terms of the Possible Offer and addressing other pre-conditions, have made material progress and remain ongoing.

In accordance with Rule 2.6(c) of the Code, the Board has requested, and the Panel on Takeovers and Mergers (the "Panel") has consented to, an extension to the deadline by which Verdane is required either to announce a firm intention to make an offer for Team Internet in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, until 5.00 p.m. (London time) on 4 March 2025 (the "Revised PUSU Deadline"). The Revised PUSU Deadline may only be extended with the agreement of Team Internet and the Panel in accordance with Rule 2.6(c) of the Code.

There can be no certainty that a firm offer will be made for Team Internet nor to the terms on which any such firm offer might be made.

A further announcement will be made as and when appropriate.