Implementation of the Scheme remains subject to, among other things, Shareholder approval at the Second General Meeting to be held on 27 February 2026. The Board is pleased to announce the following Elections in connection with the Scheme:· Rollover Option: 44,435,955 Shares / 41.36 per cent. of issued Shares (excluding Shares held in treasury); which will be reclassified as Reclassified Shares with "A" rights, being the right to receive Fund Shares in Smithson Equity Fund (the "Fund"); and· Cash Option: 62,991,528 Shares / 58.64 per cent. of issued Shares (excluding Shares held in treasury); which will be reclassified as Reclassified Shares with "B" rights, being the right to receive cash. Following the reclassification of the Shares on 25 February 2026, the Reclassified Shares will be suspended from listing at 7.30 a.m. on 27 February 2026.

Source: The Times February 23, 2026 10:54 UTC