29 December 2022

Helios Underwriting plc

("Helios" or the "Company")

Acquisitions of Limited Liability Vehicles

Issue of Equity

and

Total Voting Rights

Helios, the unique investment vehicle that acquires and consolidates underwriting capacity at Lloyd's, is pleased to announce the acquisition of a further three limited liability vehicles ("LLVs"). The LLVs are to be acquired for a total consideration of £5.7m, of which c.£5.1m is to be satisfied in cash, c.£0.4m is to be satisfied by the issue of 235,796 new ordinary shares of £0.10 each in the Company ("Ordinary Shares") at a price of £1.577 per share, and a further c.£0.3m has been deferred dependent on the result of the LLVs' open years of account. The three acquisitions increase Helios' 2022 syndicate capacity by c.£5.7m. The details are as follows:

The acquisition of Harris Family UTG Limited and Whitehouse Underwriting Limited have been completed and the completion of Risk Capital UTG Limited is subject to Lloyd's change of control approval.

Application has been made for the 235,796 new Ordinary Shares to be admitted to trading on AIM. Admission is expected to occur at 8.00 a.m. on 30 December 2022 ("Admission").

Total Voting Rights

The new Ordinary Shares will rank pari passu with the Company's existing issued Ordinary Shares. The Company's issued share capital following Admission will comprise 77,737,372 Ordinary Shares. The Company holds 419,169 Ordinary Shares in Treasury which carry no voting rights and therefore the total number of voting rights in the Company is therefore 77,318,203. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

For further information, please contact:

Helios Underwriting plc

Nigel Hanbury - Chief Executive                                +44 (0)7787 530 404 / [email protected]

Arthur Manners - Chief Financial Officer                 +44 (0)7754 965 917

Shore Capital (Nomad and Broker)

Robert Finlay                                                                 +44 (0)20 7601 6100

David Coaten

Willis Re Securities (Financial Adviser)

Alastair Rodger                                                             +44 (0)20 3124 6033

Buchanan (PR)

Helen Tarbet / Henry Wilson / George Beale         +44 (0)7872 604 453

                                                                                        +44 (0)20 7466 5111

 About Helios

Helios provides a limited liability direct investment into the Lloyd's insurance market and is quoted on the London Stock Exchange's AIM market (ticker: HUW). Helios trades within the Lloyd's insurance market writing approximately £239m of capacity for the 2022 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com.