PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER Rules 8.1 and 8.2 of the Takeover Code (the “Code”)

02 Jun 2025 14:45 CEST

PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER
Rules 8.1 and 8.2 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser: Kverva Finans AS, FERD AS and JNE Partners LLP
(b) Owner or controller of interests and short positions disclosed, if different
from 1(a):
The naming of nominee or vehicle companies is insufficient. For a trust, the
trustee(s), settlor and beneficiaries must be named. JNE Partners LLP acts as
Investment Manager to JNE Master Fund LP and JNE Opportunities Fund LP
(c) Name of offeror/offeree in relation to whose relevant securities this form
relates:
Use a separate form for each offeror/offeree Benchmark Holdings plc
(d) Is the discloser the offeror or the offeree? Offeror
(e) Date position held:
The latest practicable date prior to the disclosure 30 May 2025
(f) In addition to the company in 1(c) above, is the discloser making
disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state “N/A” N/A

2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class
of relevant securities of the offeror or offeree named in 1(c), copy table 2(a)
or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or
offeree to which the disclosure relates

Class of relevant security:
0.1p ordinary

Interests Short positions
Number % Number %
(1) Relevant securities owned and/or controlled: 526,403,136 70.99
(2) Cash-settled derivatives:

(3) Stock-settled derivatives (including options) and agreements to
purchase/sell:

TOTAL: 526,403,136 70.99

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded
options), or agreements to purchase or sell relevant securities, should be given
on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial
collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

(b) Rights to subscribe for new securities

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:


3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE
DISCLOSURE

Details of any interests, short positions and rights to subscribe (including
directors’ and other employee options) of any person acting in concert with the
party to the offer making the disclosure:

NONE


Details of any open stock-settled derivative positions (including traded
options), or agreements to purchase or sell relevant securities, should be given
on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial
collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or
understanding, formal or informal, relating to relevant securities which may be
an inducement to deal or refrain from dealing entered into by the party to the
offer making the disclosure or any person acting in concert with it:
Irrevocable commitments and letters of intent should not be included. If there
are no such agreements, arrangements or understandings, state “none”

NONE


(b) Agreements, arrangements or understandings relating to options or
derivatives

Details of any agreement, arrangement or understanding, formal or informal,
between the party to the offer making the disclosure, or any person acting in
concert with it, and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant
securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state “none”

NONE


(c) Attachments

Are any Supplemental Forms attached?

Supplemental Form 8 (Open Positions) NO
Supplemental Form 8 (SBL) NO


Date of disclosure: 2 June 2025
Contact name: Andrew Lobb
Telephone number: +44 (0)20 7070 2550

Public disclosures under Rule 8 of the Code must be made to a Regulatory
Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation
to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

More information:
Access the news on Oslo Bors NewsWeb site

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