Third Point Investors Ltd

Legal Proceedings Report • Sep 5, 2025

National Storage Mechanism | Additional information

RNS Number : 2342Y

TPIL Investor Group

05 September 2025

Third Point Investors Limited Investor Group ("The Group")

Response to the Takeover Panel Hearings Committee ruling regarding Third Point Investors Limited

5th September 2025

The Group notes the statement from the Takeover Panel:

"We are clearly disappointed with the appeal outcome as we felt there were strong arguments for the application of the Takeover Code given the 'spirit' of the Code is to protect shareholders on a change of control, and the Code is stated to be principles based. This transaction clearly puts Third Point firmly in control (even if on a narrow rules-based approach it has been ruled not to have acquired more than 30% of voting rights due to the continued existence of VoteCo). We consider the transaction deliberately designed and sequenced to avoid the Code applying and to put the company beyond the remit of the Code forever more.

"Although a successful appeal without the support of the Takeover Executive was always likely to be an uphill battle, we consider it was the right thing to pursue on behalf of all independent shareholders and for the integrity of the London market."

ENDS

Enquiries

Advisers to the Group

Communications - Nepean

Woolf Thomson Jones

+44 (0) 7376 392 693

[email protected]

Legal - Ogilvy & Wachtel LLP

Robert Ogilvy Watson

+44 (0) 20 8396 0967

[email protected]

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRAUPUWUBUPAGUA