Receipt of revised Requisition Notice

On 8 May 2026, the Board of Workspace Group PLC (the "Board" and the "Company" respectively) acknowledged receipt of a requisition notice made on behalf of Saba Capital Management L.P. ("Saba Capital") (the "Initial Requisition").

The Board today acknowledges receipt of a revised requisition notice made on behalf of Saba Capital on 20 May 2026 pursuant to section 338 of the Companies Act 2006 (the "Revised Requisition") requesting the circulation of ordinary resolutions at the Company's next Annual General Meeting, which is scheduled to be held on 23 July 2026 (the "AGM").

The Initial Requisition proposed the removal of five of the Company's Non-Executive Directors (all other than Manju Malhotra) and the appointment of four new directors proposed by Saba Capital (Nick Shattock, Andrew Sim, Richard Starr and Gregory Attwood).

The Revised Requisition proposes the removal of all six of the Company's Non-Executive Directors (including Manju Malhotra) and the appointment of six new directors in their place. The new directors proposed by Saba Capital are the four individuals proposed by Saba Capital in the Initial Requisition, as well as Gautam Garg and Simon Hampton.

The Revised Requisition has been made by Vidacos Nominees Limited a/c 2062, acting as nominee and on behalf of Saba Capital, a US hedge fund, which has interests in approximately 21.12 per cent of the Company's issued share capital as at the time of this announcement.

The Initial Requisition and the Revised Requisition follow the publication of a letter from Saba Capital dated 8 January 2026, which set out a proposal to conduct a managed wind-down of the Company over a 12-month period to address the discount to its net asset value. The Board concluded that the proposal is not achievable, nor will it maximise value for shareholders, and so is not in the best interests of the Company and its shareholders as a whole.

As stated on 8 May 2026, the Board firmly believes in the strength of the Company's existing strategy and further detail will be provided at its Full Year Results on 10 June 2026.

The Board, together with its advisers, is carefully reviewing the Revised Requisition. Shareholders are advised to take no action in respect of the Revised Requisition at this time.

Further announcements will be made if and when appropriate.

J.P. Morgan Cazenove, Rothschild & Co and Stifel are advising the Company.

The Revised Requisition was received from Vidacos Nominees Limited a/c 2062 ("Vidacos"). Vidacos acts as the nominee company of Citibank N.A., London Branch (the "Custodian") pursuant to the instructions of its client, Jefferies LLC, a prime broker acting on behalf of its underlying customers. Jefferies LLC has confirmed to the Custodian that its underlying customer, Saba Capital, is the beneficial owner of at least 5% of the total voting rights of the Company, which rights are held in custody by the Custodian for Jefferies LLC on behalf of its customer, Saba Capital.