Response to no intention to bid statement

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

FOR IMMEDIATE RELEASE

24 June 2021

Senior plc

Response to Lone Star no intention to bid statement

The Board of Senior plc ("Senior" or "the Company") notes the announcement made by LSF XI Investments, LLC, a company advised by Lone Star Global Acquisitions, Ltd ("Lone Star") earlier today that it does not intend to make a firm offer for Senior plc.  As a result of the announcement, Lone Star is bound by the restrictions contained in Rule 2.8 of the City Code on Takeovers and Mergers (the "Code").

The Board continues to believe that Senior has a focused and compelling strategy to achieve growth and create value for shareholders over the medium-term and remains confident that Senior is well-positioned to emerge strongly as the recovery continues across its end-markets.

As indicated in our announcement on 22 June 2021, we intend to provide a post-close trading update on 9 July 2021.  Our interim results will be announced on 2 August 2021, at which time we will provide a full market and strategy update.  In addition, we intend to host a capital markets day in October 2021, the theme of which will be our fluid conveyance and thermal management strategy.

Enquiries:

Important Notices

Lazard & Co., Limited ("Lazard"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively as financial adviser to Senior and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than Senior for providing the protections afforded to clients of Lazard & Co., Limited nor for providing advice in relation to the matters set out in this announcement.  Neither Lazard & Co., Limited nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Lazard &  Co., Limited in connection with this announcement, any statement contained herein or otherwise.

Credit Suisse International ("Credit Suisse"), which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting as joint corporate broker exclusively for Senior and for no one else in connection with the matters set out in this announcement, and will not be responsible to anyone other than Senior for providing the protections afforded to clients of Credit Suisse, nor for providing advice to any other person in relation to the content of this announcement or any other matter referenced herein.  Neither Credit Suisse nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Credit Suisse in connection with this announcement, any statement contained herein or otherwise.

Jefferies International Limited ("Jefferies"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting for Senior and no one else in connection with the matters set out in this Announcement.  In connection with such matters, Jefferies will not regard any other person as their client, and will not be responsible to any persons other than Senior for providing the protections afforded to clients of Jefferies or for providing advice in relation to the contents of this announcement or any other matter referred to herein.  Neither Jefferies nor any of its subsidiaries, affiliates or branches owes or accepts any duty, liability or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Jefferies in connection with this announcement, in any statement contained herein or otherwise.