Rule 2.8 Statement

Statement from SilverTree Equity Partners LLP ("SilverTree")

Statement of intention not to make an offer for Tribal Group plc ("Tribal Group")

On 11 September 2026, Tribal Group announced that SilverTree had made a non-binding potential offer for the entire issued and to be issued ordinary shares in the capital of Tribal Group.

SilverTree confirms that it does not intend to make an offer for Tribal Group.

This is a statement to which Rule 2.8 of the Code applies. Accordingly, SilverTree (and any person(s) acting in concert with it) will, except with the consent of the Panel on Takeovers and Mergers (the "Panel"), be bound by the restrictions set out in Rule 2.8 of the Code for a period of six months from the date of this statement.

For the purposes of Rule 2.8 of the Code, SilverTree (and any person(s) acting in concert with it) reserves the right to set aside the restrictions in Rule 2.8 of the Code in any of the following circumstances:

• in the event the sale and purchase agreement dated 11 September 2026 between Thames Bidco Limited and Tribal Group is terminated, lapses or otherwise does not complete in accordance with its terms, with the agreement of the board of Tribal Group;
• following an announcement of a firm intention to make an offer for Tribal Group made by or on behalf of a third party (including Jenzabar, Inc.);
• following the announcement by Tribal Group of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensation from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or
• where the Panel has determined that there has been a material change of circumstances.