RICARDO PLC

Major Shareholding Notification • Feb 3, 2025

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author: Frederic Osei
date: 2025-01-31 12:25:00+00:00

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TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB0007370074

Issuer Name

RICARDO PLC

UK or Non-UK Issuer

UK

1. Reason for Notification

An acquisition or disposal of voting rights

1. Details of person subject to the notification obligation

Name

Aggregate of abrdn plc affiliated investment management entities with delegated voting rights on behalf of multiple managed portfolios

City of registered office (if applicable)

Edinburgh

Country of registered office (if applicable)

United Kingdom

1. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

1. Date on which the threshold was crossed or reached

30-Jan-2025

1. Date on which Issuer notified

31-Jan-2025

1. Total positions of person(s) subject to the notification obligation

2. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

1. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

3. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

1. Additional Information

In reference to Section 9, the shares detailed are managed by the named discretionary investment management entity within multiple portfolios on behalf of underlying clients, based on investment management agreements whereby the client has delegated the exercise of the voting power to the referenced investment manager.

This disclosure also reflects the fact that the voting rights effectively held indirectly by the underlying intermediate holding company abrdn Investments Holdings Limited (“aI(H)L”) and held by the underlying investment management entity abrdn Investment Management Limited (“aIML”) decreased below the 5% notifiable threshold due to trading on 30 January 2025. Prior to this crossing, aI(H)L effectively held and aIML held 5.375121% of the delegated voting rights.

1. Date of Completion

31-Jan-2025

1. Place Of Completion

Edinburgh, United Kingdom

.	% of voting rights attached to shares (total of 8.A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached	Below 5%	0.000000	Below 5%	Below 5%
Position of previous notification (if applicable)	5.439246	0.000000	5.439246

Class/Type of shares ISIN code(if possible)	Number of direct voting rights (DTR5.1)	Number of indirect voting rights (DTR5.2.1)	% of direct voting rights (DTR5.1)	% of indirect voting rights (DTR5.2.1)
GB0007370074		Below 5%		Below 5%
Sub Total 8.A	Below 5%	Below 5%	Below 5%	Below 5%

Type of financial instrument	Expiration date	Exercise/conversion period	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
Sub Total 8.B1

Type of financial instrument	Expiration date	Exercise/conversion period	Physical or cash settlement	Number of voting rights	% of voting rights
Sub Total 8.B2

Ultimate controlling person	Name of controlled undertaking	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
abrdn plc
abrdn plc	abrdn Investments (Holdings) Limited
abrdn plc	abrdn Investment Management Limited
abrdn plc
abrdn plc	abrdn Holdings Limited
abrdn plc	abrdn Investments Limited