NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

FOR IMMEDIATE RELEASE

15 May 2025

Eldridge Media Holdings, LLC ("EMH")

Statement regarding National World plc ("National World")

Further to the announcement made on 28 March 2025 by National World regarding a possible offer for National World by EMH, EMH confirms that, following careful consideration, it does not intend to make an offer for National World.  As a result, EMH and any person(s) acting in concert with it will be bound by the restrictions contained in Rule 2.8 of the Code.

Under Note 2 on Rule 2.8 of the Code, EMH and any person(s) acting in concert with it reserve the right to set the restrictions in Rule 2.8 of the Code aside in the following circumstances:

a)   in the event that the offer by Neo Media Publishing Limited is withdrawn or lapses, with the agreement of the board of directors of National World;

b)   following the announcement by or on behalf of a third party of a firm intention to make an offer for National World;

c)   if National World announces a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or

d)   where the Takeover Panel has determined that there has been a material change of circumstances.

Important Notice

This announcement is provided for information purposes only. It is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, whether pursuant to this announcement or otherwise.

Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of the UK version of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information will be considered to be in the public domain.