TERN PLC

Major Shareholding Notification • Apr 19, 2018

Tern PLC (TERN)

19-Apr-2018 / 17:02 GMT/BST

Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS
1a. Identityof the issuer or the underlying issuer of existing Tern Plc shares to which voting rights are attached ii:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
iii: Other (please specify)
3. Details of person subject to the notification obligation		iv
City Financial Investment Company Limited, acting as Name Investment Manager and Authorised Corporate Director.
City and country of registered office (if applicable)			London, United Kingdom
4. Full name of shareholder(s) (if different from 3.) v
Name BNY Mellon Trust & Depositary, acting as Trustee.
City and country of registered office (if applicable)				London, United Kingdom
5. Date on which the threshold was crossed or reached vi: 17/04/2018
6. Date on which issuer notified (DD/MM/YYYY): 19/04/2018
7. Total positions of person(s) subject to the notification obligation
	% 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 of issuer vii
Resulting situation on the date on which threshold was crossed or reached	0	0		0	0
Position of previous notification (if applicable)	4.99	0		4.99

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii
A: Voting rights attached to shares
Class/type of	Number of voting rights ix		%of voting rights
shares ISIN code (if possible)	Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)	Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)	Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)	Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
GB00BFPMV798	0	0	0	0
SUBTOTAL 8. A	0		0

B 1: Financial Instruments according toArt. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument	Expiration date x	Exercise/ Conversion Period xi	Number of voting rights that may be acquired if the instrument is exercised/converted.	%of voting rights
		SUBTOTAL 8. B 1

B 2: Financial Instrumentswith similar economic effect according toArt. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration date x	Exercise/ Conversion Period xi	Physical or cash settlement xii	Number of voting rights	%of voting rights
			SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii X 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 entity xiv (please add additional rows as necessary) Name xv %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

10.In case of proxy voting, please identify:
Name of the proxy holder	NA
The number and % of voting rights held	NA
The date until which the voting rights will be held	NA

11.Additional information xvi

	Place of completion City Financial Investment Company Limited, London
Date of completion	19/04/2018

Sequence No.: 5432

End ofAnnouncementEQS News Service