Syncona Limited — AGM Information 2013

Sep 9, 2013

BACIT LIMITED Guernsey Company Registration No: 55514 (the "Company")

CERTIFIED TRUE EXTRACT OF THE MINUTES OF THE 2013 ANNUAL GENERAL MEETING OF THE MEMBERS OF THE COMPANY HELD AT TRAFALGAR COURT, LES BANQUES, ST PETER PORT, GUERNSEY GY1 3QL, CHANNEL ISLANDS ON MONDAY 9 SEPTEMBER 2013 AT 11.00AM.

SPECIAL IT WAS RESOLVED THAT the Company be and is hereby generally and RESOLUTIONunconditionally authorised in accordance with section 315 of the Companies SHARE (Guernsey) Law, 2008, as amended (the "Companies Law"), to make market BUYBACK: acquisitions (as defined in the Companies Law) of its shares (either for the retention as treasury shares for future resale or transfer or cancellation), PROVIDED THAT:

• a. the maximum number of shares authorised to be purchased shall be 30,989,542 ordinary shares (being 14.99 per cent. of the shares in issue as at the latest practicable date prior to the date of publication of this document);
• . the minimum price (exclusive of expenses) which may be paid for a share shall be 1 penny;
• the maximum price which may be paid for a share is an amount equal to c. the higher of: (a) 105 per cent. of the average of the middle market quotations for a share on the relevant market for the five business days immediately preceding the date on which the share is purchased; and (b) the higher of (i) the price of the last independent trade for a share and (ii) the highest current independent bid for a share at the time of purchase; and
• d. the authority hereby conferred shall expire at the annual general meeting of the Company in 2014 unless such authority is varied, revoked or renewed prior to such date by a special resolution of the Company in general meeting.

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For Northern Trust International Fund Administration Services (Guernsey) Limited As Secretary

9 Septemper 2013 Date