Aferian : Letter to Shareholder for General Meeting

19 May 2023

Dear Shareholder

Notice of General Meeting

I am pleased to enclose notice of a General Meeting, which will be held at the offices of Investec Bank plc, 30 Gresham Street, London, EC2V 7QP on Tuesday 13 June 2023, at 9.00 a.m.

Full-year results

As we announced on 5 May 2023, the publication of the full year audited results for the financial year ended 30 November 2022 was delayed and therefore the Annual Report and Accounts will not be presented at the 2023 Annual General Meeting, which will be held on 31 May, and instead will be presented at this General Meeting after they have been with shareholders for the requisite period ahead of the meeting.

The audited financial statements for the financial year ended 30 November 2022, together with copies of the Directors' report and the Auditors' report on those results, are enclosed.

The business of the General Meeting is to consider those resolutions usually considered at an annual general meeting that relate to the Annual Report and Accounts, the Directors' Remuneration Report and the reappointment and remuneration of the auditors.

Resolutions

The Board looks forward to receiving your support of all the proposed resolutions which are as follows:

Resolution 1: Receiving the Annual Report and Accounts

The directors are required to present the Company's annual accounts to shareholders in general meeting.

Resolution 2: Approving the Directors' Remuneration Report

This resolution seeks approval of the Directors' Remuneration Report.

Resolution 3: Re-appointment of the Auditors

At a meeting at which accounts are laid, the Company must appoint auditors to hold office until the conclusion of the next such meeting at which accounts are laid. You are asked to re-appoint BDO LLP as auditors of the Company for the next year.

Resolution 4: Approval of auditors' remuneration

This resolution gives authority to the Directors, in accordance with standard practice, to agree the auditors' remuneration.

Voting by Proxy

You will not receive a form of proxy for the General Meeting in the post. Instead, you will be able to vote electronically online using the Share Portal Service via https://www.signalshares.com. To vote online you will need to enter your surname, investor code and postcode.

You can still request a hard copy proxy form directly from the registrars by calling 0371 664 0300 and return that hard copy form to the address shown on the form. 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. The registrars are open between 09:00 - 17:30, Monday to Friday excluding public holidays in England and Wales.

Shares held in uncertificated form (i.e. in CREST) may be voted through the CREST Proxy Voting Service in accordance with the procedures set out in the CREST manual.

Link Group, the company's registrar, has launched a shareholder app: LinkVote+. It's free to download and use and gives shareholders the ability to access their shareholding record at any time and allows users to submit a proxy appointment quickly and easily online rather than through the post. The app is available to download on both the Apple App Store and Google Play.

If you are an institutional investor, you may be able to appoint a proxy electronically via the Proxymity platform, a process which has been agreed by the Company and approved by the Registrar. For further information regarding Proxymity, please go to www.proxymity.io.

Please note that the deadline for receiving proxy forms, either electronically, in hard copy or through CREST, is 9.00 a.m. on 9 June 2023.

For full details please refer to the Notice of General Meeting.

If you are unable to locate any of the documents on the web page or need any help with voting online, please contact the shareholder helpline on 0371 664 0300.

Yours faithfully

Mark Wells

Chairman