No intention to make an offer for Tribal Group

On 29 September 2026 Jenzabar, Inc. ("Jenzabar") announced a possible cash offer for the entire issued and to be issued ordinary share capital of Tribal.

Following approval of the resolutions put to shareholders at Tribal's General Meeting held on 26 October 2026 in respect of the proposal by Thames Bidco Limited (a newly formed company controlled by funds and accounts managed or advised by Main Capital Partners) to acquire the business and assets of Tribal, Jenzabar confirms that it does not intend to make a firm offer for Tribal.

This is a statement to which Rule 2.8 of the Code applies. Accordingly, Jenzabar and persons acting in concert with it will be bound by the restrictions in Rule 2.8 of the Code for six months from the date of this announcement, except with the consent of the Panel on Takeovers and Mergers (the "Panel") or on the occurrence of a circumstance expressly reserved below.

Under Note 2 on Rule 2.8 of the Code, Jenzabar reserves the right, for itself and persons acting in concert with it, to set aside those restrictions in the following circumstances:

• with the agreement of the board of directors of Tribal;
• following the announcement of a firm intention to make an offer for Tribal by or on behalf of a third party;
• following the announcement by Tribal of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or
• if the Panel determines that there has been a material change of circumstances.