EQLS Equals Group Plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").

FOR IMMEDIATE RELEASE.

12 June 2024

Statement Regarding Equals Group plc

Madison Dearborn Partners, LLC ("MDP") confirms that it does not intend to make an offer for Equals Group plc ("Equals") under Rule 2.7 of the Code.

This is a statement to which Rule 2.8 of the Code applies.

Under Note 2 on Rule 2.8 of the Code, MDP and any person(s) acting in concert with it, reserves the right to set the restrictions in Rule 2.8 aside within six months of the date of this announcement, in the following circumstances:

(a)        with the agreement of the board of Equals;

(b)        if a third party, including the consortium comprising Embedded Finance Limited and TowerBrook Capital Partners (U.K.) LLP, announces a firm intention to make an offer for Equals;

(c)        if Equals announces a Rule 9 waiver proposal (as referred to in Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and

(d)        if there has been a material change of circumstances (as determined by the Takeover Panel).