Statement regarding Tribal Group plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Jenzabar, Inc.

Statement regarding Tribal Group plc

Jenzabar, Inc. ("Jenzabar") strongly opposes the offer announced by Ellucian Company L.P. ("Ellucian") on 5 October 2023 to acquire the entire issued and to be issued share capital of Tribal Group plc ("Tribal") by way of a scheme of arrangement (the "Ellucian Offer") and will vote all of its shares and any further shares it acquires against the Ellucian Offer in any general meeting or other shareholder vote undertaken by Tribal to effect its implementation.

Rule 2.8 statement

Jenzabar confirms it does not intend to make a firm offer for Tribal, which is a statement to which Rule 2.8 of the Code applies.

Under Note 2 on Rule 2.8 of the Code, Jenzabar and any person(s) acting in concert with it, reserve the right to set the restrictions in Rule 2.8 aside in any of the following circumstances:

• with the agreement of the Board of Tribal in the event of the withdrawal or lapse of the Ellucian Offer;
• if a third party other than Ellucian announces a firm intention to make an offer for Tribal;
• if Tribal announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or
• if the Takeover Panel has determined that there has been a material change of circumstances.