LEI: 213800LFMHKVNTZ7GV45

22 JULY 2022

ASSETCO PLC

("AssetCo" or the "Company")

POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING

PROPOSED SUB-DIVISION OF THE ISSUED SHARE CAPITAL AND CANCELLATION OF THE SHARE PREMIUM ACCOUNT

Consistent with the previously stated intention, the Company announces that it is today posting a circular to shareholders (the "Circular") in connection with a proposed sub-division of its Existing Ordinary Shares (with each Existing Ordinary Share being divided into ten New Ordinary Shares) and the cancellation of the amount currently standing to the credit of the Company's share premium account.

The closing middle market price of an Existing Ordinary Share on 21 July 2022 (being the latest practicable date prior to the publication of this announcement) was 770.0p.  The Sub-Division is being proposed in response to Shareholder feedback on the liquidity and marketability of the Existing Ordinary Shares and aims to improve the marketability of the Company's shares to retail investors, noting the recent increase in the number of retail Shareholders on the Company's share register. The Board believes that the proposed Sub-Division will reduce the Company's share price to a level where smaller sized dealings would be more efficient, and that this may improve the liquidity and marketability of the New Ordinary Shares to a wider group of investors as well as reduce the bid/offer spread.

At the same time the opportunity is being taken to cancel the amount standing to the credit of the Company's share premium account.  The Company intends to adopt a progressive dividend policy and has stated that it intends to pay a dividend of 13.0 pence per Existing Ordinary Share (which would equate to 1.3 pence per New Ordinary Share following the Sub-Division) in Q4 2022.  Should the relevant Resolution be passed at the General Meeting, application will be made to the Court to confirm the cancellation of the share premium account and thereby create a special reserve that will be distributable and available to support the Company's progressive dividend policy.

The Circular contains a notice of a general meeting of the Company to be held at 11.00 am on 10 August 2022 at the offices of Gowling WLG (UK) LLP, 4 More London Riverside, London SE1 2AU at which resolutions necessary to implement the proposals described above will be proposed.

The Key Statistics and Expected Timetable of Principal Events are set out in the Appendix to this announcement.

Capitalised terms used but not defined in this announcement have the meanings given to them in the Circular. A copy of the Circular will shortly be available for inspection on the Company's website at  www.assetco.com/investor-relations/documents/.

Enquiries:

APPENDIX

KEY STATISTICS

EXPECTED TIMETABLE OF PRINCIPAL EVENTS