Integrated Diagnostics Holdings PLC — AGM Information 2021

Jun 7, 2021

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

If you are in any doubt as to the action you should take, you are recommended to seek your own personal financial advice immediately from your stockbroker, solicitor, accountant or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 if you are resident in the United Kingdom or, if not, from another appropriate authorised independent financial adviser.

If you have sold or otherwise transferred all of your Shares, please forward this document at once to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected, for delivery to the purchaser or transferee. If you have sold or otherwise transferred only part of your holding of Shares, you should retain these documents.

INTEGRATED DIAGNOSTICS HOLDINGS PLC

CHAIRMAN'S LETTER AND NOTICE OF ANNUAL GENERAL MEETING 2021

The Annual General Meeting of Integrated Diagnostics Holdings Plc will be held at the Headquarters of IDH Integrated Diagnostics Holdings, Building B216-F7, Smart Village, Giza, Egypt on Wednesday, 30 June 2021 at 8:00 am (BST) / 9:00 am (EET) is set out in this document.

INTEGRATED DIAGNOSTICS HOLDINGS PLC

LETTER FROM THE CHAIRMAN

Registered Office Address: 12 Castle Street, St. Helier, Jersey, JE2 3RT, Channel Islands

Dear Shareholder,

I am pleased to enclose the Notice of the Annual General Meeting ("AGM") of Integrated Diagnostics Holdings Plc (the "Company") which will be held at the Headquarters of IDH Integrated Diagnostics Holdings, Building B216-F7, Smart Village, Giza, Egypt on Wednesday, 30 June 2021 at 8:00 am (BST)/ 9:00 am (EET).

BUSINESS OF THE AGM

The business to be conducted at the AGM is set out in pages 3 to 11 of this document with explanatory notes concerning each of the resolutions ("Notice"). A copy of this Notice and the Company's annual report for the year ended 31 December 2020 can be viewed on our website at www.idhcorp.com.

DIRECTORS

All Directors will retire at the 2021 AGM and seek reappointment by shareholders. I believe that each of the reappointments proposed in Resolutions 2 to 7 are in the best interest of the Company. The biographical details of each Director are given on pages 78 to 79 of the Company's annual report for the year ended 31 December 2020 and I hope you will vote in favour of these Resolutions.

COVID-19, VOTING AND QUESTIONS

Due to the ongoing restrictions and safety concerns as a result of the COVID-19 pandemic, physical attendance at the AGM will not be possible. Therefore, we are proposing to hold the AGM with the minimum number of shareholders required to form a quorum in order that the meeting may proceed. Shareholders are therefore strongly encouraged to submit their proxy votes online at www.signalshares.com or in accordance with the instructions set out in note 2 of the Explanatory Notes to the Notice of AGM. All proxy instructions must be received no later than 8:00 am (BST) on Monday, 28 June 2021 (or, in the case of an adjournment, not later than 48 hours, excluding non-working days, before the time fixed for the holding of the adjourned meeting).

As Shareholders will be unable to attend the meeting in person, you are strongly encouraged to appoint the Chairman of the AGM, rather than another individual, as your proxy. It will not be possible for Shareholders to vote during the meeting.

The Board remains keen to encourage engagement with Shareholders. To that end, the Directors would like to invite questions from Shareholders in advance of and during the AGM. Should Shareholders wish to submit questions to the Board prior to the deadline for proxy voting they can do so, and these will be responded to on an individual basis. In addition, the Board will offer shareholders the opportunity to dial into the AGM, at which time they can also submit questions to the Board.

Shareholders wishing to access the dial-in facility or submit questions are asked to email nancy.fahmy@idhcorp.com by close of business on Wednesday, 23 June 2021.

RECOMMENDATION

The Board unanimously recommends that you vote in favour of all the Resolutions, as the Directors intend to do in respect of their own beneficial shareholdings where applicable.

Yours faithfully,

LORD ANTHONY ST JOHN, CHAIRMAN Dated: 7 June 2021

INTEGRATED DIAGNOSTICS HOLDINGS PLC

(Incorporated in Jersey with registered number 117257)

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the Annual General Meeting of the Shareholders of Integrated Diagnostics Holdings Plc (the "Company") will be held at the Headquarters of IDH Integrated Diagnostics Holdings, Building B216-F7, Smart Village, Giza, Egypt on Wednesday, 30 June 2021 at 8:00am (BST) / 9:00am (EET) for the following purposes:-

ORDINARY RESOLUTIONS

• 1. To receive and consider the Company's Audited Financial Statements, together with the Reports of the Directors and the Auditor for the year ended 31 December 2020.
• 1. That Lord Anthony Tudor St John, who retires as a director and, being eligible, offers himself for re-election at the AGM, be re-elected.
• 1. That Dr. Hend El-Sherbini, who retires as a director and, being eligible, offers herself for re-election at the AGM, be re-elected.
• 1. That Richard Henry Phillips, who retires as a director and, being eligible, offers himself for re-election at the AGM, be re-elected.
• 1. That James Patrick Nolan, who retires as a director and, being eligible, offers himself for re-election at the AGM, be re-elected.
• 1. That Dan Johan Wilmar Olsson, who retires as a director and, being eligible, offers himself for re-election at the AGM, be re-elected.
• 1. That Hussein Hassan Choucri, who retires as a director and, being eligible, offers himself for re-election at the AGM, be re-elected.
• 1. To appoint PricewaterhouseCoopers LLP ("PwC") as Auditor to hold office from the conclusion of this meeting until the conclusion of the next annual general meeting at which accounts are laid before the Company.
• 1. To authorise the Directors to determine the Auditor's remuneration.
• 1. To declare a final dividend of US\$ 0.049 per Share in respect of the year ended 31 December 2020 to be paid on 23 July 2021 to the holders of Shares on the register of members as at the close of business on 2 July 2021, with an ex-dividend date of 1 July 2021.
• 1. THAT, in substitution for all existing and unexercised authorities and powers, the directors of the Company be and they are hereby generally and unconditionally authorised for the purpose of article 12 of the Articles of Association to exercise all or any of the powers of the Company to issue and allot or agree to issue and allot Equity Securities of the Company or to grant rights to subscribe for, or to convert any security into, Equity Securities of the Company up to 120,000,000 ordinary US\$0.25 shares, being approximately 20 per cent of the current issued share capital of the Company (the Authorised Allotment Amount), to such persons at such times and generally on such terms and conditions as the directors may determine (subject always to the Articles of Association).

PROVIDED THAT, this authority shall, unless previously renewed, varied or revoked by the Company in general meeting, expire at the conclusion of the next annual general meeting save that the directors of the Company may issue and allot or agree to issue and allot Equity Securities, notwithstanding that this authority has expired, if they are allotted in pursuance of an offer or agreement made by the Company before this authority expires, which would or might require Equity Securities to be allotted after this authority expires.

1. THAT pursuant to Article 58A (1)(b) of the Companies (Jersey) Law 1991, the holding by the Company of the Equity Securities purchased to the authority conferred by Resolution 15 as treasury shares in accordance with the provisions of the Companies (Jersey) Law 1991 be approved.

2. THAT the execution and delivery by the Company of any documents that are necessary or expedient in connection with the Company holding the Equity Securities purchased pursuant to the authority conferred by Resolution 12 as treasury shares be approved.

SPECIAL RESOLUTIONS

1. To consider and, if thought fit, pass the following resolution which, in accordance with Article 3 of the Company's Articles of Association will require a majority of three-fourths of the members voting in person or by proxy on this resolution to be passed:

THAT, subject to and conditional upon the passing of resolution number 11 in the notice convening the meeting at which this resolution was proposed and in substitution for all existing and unexercised authorities and powers, the directors of the Company be and are hereby empowered generally and unconditionally pursuant to article 12.4 of the Articles of Association to allot Equity Securities (whether directly, or by way of options, warrants, convertible instruments or other grant of rights for Equity Securities convertible upon exercise of such options, warrants, convertible instruments or other grant of rights) pursuant to the authority conferred upon them by resolution 11, such that article 13.1 of the Articles of Association shall not apply to the allotment, provided that this authority and power shall be limited to:

• (i) the allotment of Equity Securities in connection with a rights issue or similar offer in favour of ordinary shareholders where the Equity Securities respectively attributable to the interest of all ordinary shareholders are proportionate (as nearly as may be) to the respective numbers of ordinary shares held by them subject only to such exclusions or other arrangements as the directors of the Company may consider appropriate to deal with fractional entitlements, treasury shares, record dates or legal and practical difficulties under the laws of, or the requirements of any recognised regulatory body of, any territory;
• (ii) the allotment (otherwise than pursuant to sub-paragraph (i) above) of up to 30,000,000 ordinary shares of US\$0.25 each, representing approximately 5 per cent of the current issued share capital of the Company (the Non Pre-emptive Amount);

and this authority shall, unless previously renewed, varied or revoked by the Company in general meeting, expire at the conclusion of the next annual general meeting save that the directors of the Company may allot Equity Securities or rights to subscribe for or convert securities into Equity Securities notwithstanding that this authority has expired, if they are allotted in pursuance of an offer or agreement made by the Company before this authority expires, which would or might require Equity Securities to be allotted after this authority expires.

1. To consider and, if thought fit, pass the following resolution which, in accordance with Article 3 of the Company's Articles of Association will require a majority of three-fourths of the members voting in person or by proxy on this resolution to be passed:

THAT the Company is hereby generally and unconditionally authorised pursuant to Article 57 of the Companies (Jersey) Law 1991 to make market purchases of Equity Securities in the capital of the Company on such terms and in such manner as the Directors shall determine provided that:

• (i) the maximum number of Equity Securities authorised to be purchased is 60,000,000, representing up to 10% of the sum of the issued ordinary share capital of the Company as at the date of this Circular;
• (ii) the minimum price which may be paid for each Equity Security is US\$0.25;
• (iii) the maximum price (exclusive of expenses) which may be paid for each Equity Security is, in respect of a share contracted to be purchased on any day, an amount equal to the higher of (i) 105% of the average of the closing middle market quotations for the Equity Securities taken from the Daily Official List of the London Stock Exchange for the five business days immediately preceding the day on which that Equity Security is to be purchased; and (ii) the higher of the last independent trade and the highest current independent bid for the Equity Security on the London Stock Exchange at the relevant time;

and this authority will (unless previously renewed, varied or revoked by the Company in general meeting) expire at the conclusion of the next annual general meeting of the Company held after the date on which this resolution is passed or, if earlier, at close of business on the day falling 15 months after that date, save that the Company may make a contract to purchase Equity Securities under this authority before this authority expires which will or may be executed wholly or partly after its expiration.

By order of the Board of Directors of Integrated Diagnostics Holdings Plc

LORD ANTHONY ST JOHN, CHAIRMAN

Dated: 7 June 2021

Registered Office Address: 12 Castle Street, St. Helier, Jersey, JE2 3RT, Channel Islands

EXPLANATORY NOTES TO THE NOTICE OF ANNUAL GENERAL MEETING

1. DEFINITIONS
"Annual General Meeting" or "AGM"	the annual general meeting of the Company convened at the Headquarters of IDH Integrated Diagnostics Holdings, Building B216-F7, Smart Village, Giza, Egypt on 30 June 2021 at 8:00am (BST)
"Articles of Association"	the Articles of Association of the Company
"Auditor"	the Auditor of the Company
	"Authorised Allotment Amount" the nominal amount of Equity Securities the Board are authorised to allot under Article 12 of the Articles of Association
"Board" or "Directors"	the directors of the Company, whose names and biographical details are set out on pages 78 to 79 of the Annual Accounts for the year to 31 December 2020, and "Director" shall mean any of them
"Chairman"	the chairman of the Company, as set out on page 78 of the Annual Accounts for the year to 31 December 2020
"Company"	Integrated Diagnostics Holdings Plc
"Companies Law"	the Companies (Jersey) Law 1991 (as amended), and every order, regulation or other subordinate legislation made under it.
"Non Pre-emptive Amount"	the nominal amount of Equity Securities the Board are authorised to allot under Article 12.4 of the Articles of Association on a non-pre-emptive basis
"Notice of AGM"	the notice convening the AGM which is included with this document
"Register of Members"	the register of members of the Company
"Equity Securities"	ordinary shares in the company, or rights to subscribe for, or to convert securities into, ordinary shares in the company
"Resolutions"	the resolutions set out in the Notice of AGM and "Resolution" shall mean any of them
"Shareholders"	the holders of the Shares
"Shares"	ordinary shares of US\$0.25 in the capital of the Company

2. PROXY INFORMATION

• 2.1. Only Shareholders, or their duly appointed representatives, are entitled to attend and vote at the Annual General Meeting. A Shareholder so entitled may appoint one or more proxies (whether they are Shareholders or not) to attend and, on a poll, to vote in place of the Shareholder. Given the potential restrictions on attendance at the AGM, you are strongly requested to appoint only the Chairman of the meeting as your proxy and shareholders are asked to take this into account in reviewing the information set out below.
• 2.2. To appoint a proxy and any power of attorney or other authority under which it is executed (or a duly certified copy of any such power or authority), must be either:
• submitted electronically via Link Group portal, www.signalshares.com; by following the
• on-screen instructions, in particular at the "Proxy Voting" link, by no later than the deadline set out below. In order to appoint a proxy using the Website, members will need to log into their Signal Shares account, or register if they have not previously done so. To register, members will need to identify themselves with their Investor Code which is detailed on their share certificate or available from our Registrar, Link Group ; or
• lodged using the CREST Proxy Voting Service in accordance with the procedure set out below; or

– by requesting a hard copy form of proxy directly from the registrars, Link Group, on Tel: 0371 664 0300. Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. We are open between 09:00 – 17:30, Monday to Friday excluding public holidays in England and Wales.

in each case so as to be received no later than 8:00am (BST) on 28 June 2021.

• 2.3. The form of proxy and the power of attorney or other authority, if any, under which it is executed, or a copy of it certified by a notary, shall be delivered to PXS 1, Link Group, 10th Floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL no later than 8:00am (BST) on 28 June 2021, being 48 hours, excluding non-working days before the time appointed for holding the Annual General Meeting or adjourned meeting or the taking of a poll (as the case may be) at which the person named in such form of proxy.
• 2.4. CREST members who wish to appoint a proxy or proxies through the CREST electronic proxy appointment service may do so for the Annual General Meeting to be held on 30 June 2021 at 8:00am (BST) and any adjournment(s) thereof by using the procedures described in the CREST Manual. CREST personal members or other CREST sponsored members, and those CREST members who have appointed a voting service provider should refer to their CREST sponsors or voting service provider(s), who will be able to take the appropriate action on their behalf.
• 2.5. In order for a proxy appointment or instruction made by means of CREST to be valid, the appropriate CREST message (a "CREST Proxy Instruction") must be properly authenticated in accordance with Euroclear UK & Ireland Limited's specifications and must contain the information required for such instructions, as described in the CREST Manual. The message must be transmitted so as to be received by the Company's agent, Link Registrars Limited (CREST Participant ID: RA10), no later than 8:00am (BST) on 28 June 2021 being 48 hours, excluding non-working days, before the time appointed for the meeting. For this purpose, the time of receipt will be taken to be the time (as determined by the time stamp applied to the message by the CREST Application Host) from which the Company's agent is able to retrieve the message by enquiry to CREST in the manner prescribed by CREST.
• 2.6. CREST members and, where applicable, their CREST sponsor or voting service provider should note that Euroclear UK & Ireland Limited does not make available special procedures in CREST for any particular messages. Normal system timings and limitations will therefore apply in relation to the input of CREST Proxy Instructions. It is the responsibility of the CREST member concerned to take (or, if the CREST member is a CREST personal member or sponsored member or has appointed a voting service provider, to procure that his CREST sponsor or voting service provider takes) such action as shall be necessary to ensure that a message is transmitted by means of the CREST system by any particular time. In this connection, CREST members and, where applicable, their CREST sponsor or voting service provider are referred in particular to those sections of the CREST Manual concerning practical limitations of the CREST system and timings.
• 2.7. The Company may treat as invalid a CREST Proxy Instruction in the circumstances set out in Regulation 35(5)(a) of the Uncertificated Securities Regulations 2001.
• 2.8. Delivery of a form of proxy shall not preclude a Shareholder from attending and voting in person at the Annual General Meeting or poll concerned and, in such event, the form of proxy shall be deemed to be revoked.
• 2.9. Any corporation which is a Shareholder may, by resolution of its directors or other governing body or in accordance with its governing law or constitutional documents, authorise such person as it thinks fit to act as its representative at the Annual General Meeting, and the persons so authorised shall be entitled to exercise the same powers on behalf of the corporation which they represent as that corporation could exercise if it were a natural person who is a Shareholder. A Director, the Secretary or other person authorised for the purpose by the Secretary may require a representative to produce a certified copy of the resolution of authorisation before permitting him to exercise his powers.

3. CLOSURE OF REGISTER

• 3.1. The Company specifies that only those Shareholders registered in the Register of Members of the Company as at 8:00am (BST) on Monday, 28 June 2021 (being 48 hours, excluding non-working days, before the Annual General Meeting in accordance with Article 40 of the Companies (Uncertificated Securities) (Jersey) Order 1999) are entitled to attend or vote at the Annual General Meeting in respect to the number of Shares registered in their name at that time. Due to the arrangements as set out in the Chairman's letter, currently it will not be possible for members to attend in person at the Meeting other than by naming the Chairman of the Meeting as proxy.
• 3.2. Changes to entries on the Register of Members after that time shall be disregarded when determining the rights of any person to attend or vote in the Annual General Meeting.

4. COMPANY'S SHARE CAPITAL

4.1. As at the 4 June 2021 (being the last practicable date prior to publication of this document), the Company's issued share capital comprised 600,000,000 Shares. Each Share carries the right to one vote at a general meeting of the Company and therefore the total number of voting rights in the Company as at the 4 June 2021 is 600,000,000. As at the date of this document, the Company does not hold any Shares in treasury.

5. VOTING BY POLL

• 5.1 Article 88 of the Articles of Association provides that at any general meeting, a resolution put to the vote of the meeting shall be decided on a show of hands unless, before or on the declaration of the result of the show of hands, a poll is duly demanded. Subject to the provisions of the Companies Law, a poll may be demanded:
• (i) by the Chairman; or
• (ii) (except on the election of the chairman of the meeting or on a question of adjournment) by not less than 3 Shareholders present in person or by proxy and entitled to vote; or
• (iii) by a Shareholder or Shareholders present in person or by proxy and representing not less than 10% of the total voting rights of all the Shareholders having the right to vote on the resolution; or
• (iv) any Shareholder or Shareholders present in person or by proxy holding shares conferring a right to vote on the resolution, being shares on which an aggregate sum has been paid up equal to not less than 10% of the total sum paid up on all the shares conferring that right.

The appointment of a proxy to vote on a matter at a meeting authorises the proxy to demand, or join in demanding, a poll on that matter. In applying the provisions of this Article, a demand by a proxy counts (a) for the purposes of paragraph (ii) above, as a demand by the shareholder, (b) for the purposes of paragraph (iii) above, as a demand by a shareholder representing the voting rights that the proxy is authorised to exercise, and (c) for the purposes of paragraph (iv) above, as a demand by a shareholder holding the shares to which those rights are attached.

Article 89 of the Articles of Association further provides that unless a poll is so demanded (and the demand is not duly withdrawn), a declaration by the Chairman that a resolution has been carried or carried by a particular majority, or lost, or not carried by a particular majority and an entry to that effect in the minutes of the meeting shall be conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favour of or against such resolution.

Article 90 of the Articles of Association provides that the demand for a poll may, before the poll is taken, be withdrawn but only with the consent of the Chairman and a demand so withdrawn shall not be taken to have invalidated the result on a show of hands declared before the demand was made. If a poll is demanded before the declaration of the result of a show of hands and the demand is duly withdrawn, the meeting shall continue as if the demand had not been made. If the demand for a poll is withdrawn, the Chairman or any other member entitled may demand a poll.

• 1. Article 78 of the Company's Articles of Association permits the right of a member to participate in the business of any general meeting shall include, without limitation, the right to speak, vote on a show of hands, vote on a poll, be represented by a proxy and have access to all documents which are required by the Companies Law or these Articles to be made available at the meeting.
• 1. Article 72 of the Company's Articles of Association provides that, where so requested in the manner set out in section 527(4) of the United Kingdom's Companies Act 2006 by holders representing at least five per cent. of the total voting rights of all the holders who have a right to vote at the general meeting at which the Company's annual accounts are laid, or by at least 100 holders who have such right to vote and hold shares in the Company on which there has been paid up an average sum, per member, of at least £100, the Company shall publish on its website a statement setting out any matter relating to the audit of the Company's accounts or any circumstances connected with an auditor of the Company ceasing to hold office, and the Company shall comply with all the obligations relating to the publication of such statement contained in the provisions of sections 527 to 529 (other than section 527(5) and excluding the reference to "See also section 153 (exercise of rights where shares are held on behalf of others)" in section 527(2)) of the United Kingdom's Companies Act 2006 as if it were a company incorporated in the United Kingdom to which such provisions apply, provided always that the Company shall not be required to comply with the obligation set out in section 527(1) of the United Kingdom's Companies Act 2006 where the Board believes in good faith that the rights conferred by this article are being abused.
• 1. The notes below give further information in relation to the Resolutions to be considered at the AGM to be held on 30 June 2021.

Resolution 1 – Annual Report and Accounts

The Directors are required to present to the Annual General Meeting the audited accounts and the Directors' and Auditors' reports for the financial year ended 31 December 2020.

Resolutions 2 to 7 – Election of Directors

As at the date of the Notice of AGM, the Directors are:

• 1. Lord Anthony Tudor St John (Non-Executive Chairman)
• 1. Dr. Hend El-Sherbini (Chief Executive Officer)
• 1. Richard Henry Phillips (Non-Executive Director)
• 1. James Patrick Nolan (Non-Executive Director)
• 1. Dan Johan Wilmar Olsson (Non-Executive Director)
• 1. Hussein Hassan Choucri (Non-Executive Director)

In accordance with the requirements of UK Corporate Governance best practice, all serving members of the Board will be seeking re-election at the AGM. The biographies of the Board are set out on pages 78 to 79 of the Company's Annual Accounts for the year to 31 December 2020.

Directors retiring at the AGM shall retain office until the dissolution of such meeting and accordingly a retiring Director who is re-elected shall continue in office without a break.

Resolutions 8 and 9 – Auditors' appointment and remuneration

In relation to Resolution 8 regarding the appointment of the Auditor, under Article 113(3) of the Companies Law, the Company shall at each Annual General Meeting appoint an auditor to hold office from the conclusion of that meeting to the conclusion of the next Annual General Meeting.

It is proposed that PricewaterhouseCoopers LLP is appointed as the Company's auditor. This follows confirmation that KPMG LLP will not seek to be re-appointed as the Company's auditor for the 2021 audit.

In relation to Resolution 9 regarding the authorisation of Directors to determine the Auditor's remuneration:-

• (i) Shareholders should note that, in practice, the amount of auditor's remuneration for the year 2021 audit cannot be determined at the beginning of the financial year. This is because auditor's remuneration for any given year varies, in particular by reference to the scope and extent of the audit work which is undertaken during that year; and
• (ii) In order to be able to charge the amount of Auditor's remuneration as operating expenses for the year ending 31 December 2021, Shareholders' approval to delegate the authority to the Directors to fix the Auditor's remuneration for the year ending 31 December 2021 is required at the AGM.

Resolution 10 – Declaration of a final dividend

A final dividend for the year ended 31 December 2020 of US\$0.049 per ordinary US\$0.25 share is recommended by the Board. A final dividend can be paid only after it has been approved by the shareholders at a general meeting. It is proposed that shareholders approve this dividend by passing Resolution 10. If so approved, the final dividend will be paid on 23 July 2021 to the holders of Shares on the register of members as at the close of business on 2 July 2021, with an ex-dividend date of 1 July 2021.

Resolution 11 – Allotment of Relevant Securities

The Directors may only allot Equity Securities in the Company if they have been authorised to do so by Shareholders.

The authority imposed by Resolution 11 will be limited to 120,000,000 Equity Securities representing approximately 20 per cent of the Company's issued ordinary share capital as at 4 June 2021 (being the latest practicable date prior to the publication of this document). If given, this authority will expire at the conclusion of the Company's next AGM. The Directors have no immediate plans to use this authority.

Resolution 12 – Treasury Shares

The Company may hold in treasury any of its own Shares that it purchases pursuant to the authority conferred by Resolution 15, subject to the resolution being passed. This would give the Company the ability to re-issue treasury shares quickly and cost effectively and would provide the Company with greater flexibility in the management of its capital base.

Resolution 13 – Ancillary documents- Treasury shares

Resolution 13 will enable the Company to execute all such documents as necessary to hold the Shares it purchases pursuant to the authority conferred by Resolution 12 as treasury shares.

Resolution 14 – Disapplication of pre-emption rights

If the Directors wish to allot new shares or other equity securities for cash or sell treasury shares for cash, they must first offer such shares or securities to Shareholders in proportion to their existing holdings. These statutory pre-emption rights may be dis-applied by Shareholders.

Resolution 14, which will be proposed as a special resolution will enable the Directors to allot for cash up to a maximum of 30,000,000 Equity Securities, representing approximately 5 per cent of the Company's issued ordinary share capital as at 4 June 2021 (being the latest practicable date prior to the publication of this document) either in connection with a rights issue or other pro rata offer or otherwise as if pre-emption rights did not apply to such allotment. The power will expire at the conclusion of the Company's next AGM.

Resolution 15 – Repurchase of Equity Securities

Resolution 15, which will be proposed as a special resolution, will authorise the Company to make market purchases of up to 60,000,000 Shares in the capital of the Company (being approximately 10% of the Company's current issued share capital) at prices not less than the nominal value of an ordinary share and not exceeding 105% of the average of the middle market quotations for the five business days before each purchase (exclusive of expenses). The authority will expire on the date falling 15 months after the earlier of the date of the passing of the resolution and the conclusion of the annual general meeting to approve the Report and Accounts for the year ending 31 December 2021. Your Directors have no current intention to make such purchases; buying back the Company's Shares one of the options for effective management of the Company's capital which they keep under review. It is envisaged that purchases would only be made after considering the effect upon earnings per share and the benefits for shareholders generally.

There were no options outstanding as at the date of this Circular.