PNX Phoenix It

ABERFORTH PARTNERS LLP

Disclosure under Rule 2.11(d)(i) of The City Code on Takeovers and Mergers

Aberforth Partners LLP (“Aberforth”) provided a non-binding letter of intent to Daisy Intermediate Holdings Limited on 26 May 2015 regarding the proposed acquisition of Phoenix IT Group plc, as referred to in the announcement of a possible recommended cash offer on 21 May 2015.

In accordance with Rule 2.11(d)(i) of The City Code on Takeovers and Mergers, Aberforth announces that it no longer intends to comply with this letter of intent following the disposal of 12,942,374 shares (over which it had voting authority) in Phoenix IT Group plc, on behalf of clients.

Aberforth Partners LLP

7 July 2015