Astorg Asset Management S A.R.L., Epiris GP III Limited and Epiris GP Limited made an offer to acquire Euromoney Institutional Investor PLC (LSE:ERM) for £1.6 billion on June 20, 2022. Astorg Asset Management S A.R.L., Epiris GP III Limited and Epiris GP Limited reached an agreement to acquire Euromoney Institutional Investor PLC (LSE:ERM) on July 18, 2022. The Consortium is paying £14.61 per share. Astorg Asset Management and Epiris values the entire issued and to be issued ordinary share capital of Euromoney at approximately £1,606 million on a fully diluted basis and values Euromoney at approximately £1,661 million on an enterprise value basis. The cash consideration payable to the Euromoney Shareholders under the terms of the Acquisition will be financed through a combination of funds committed to Bidco of (i) equity financing drawn down from the Astorg Funds, Epiris Funds and Ares Funds and (ii) debt financing to be provided under certain term loan facilities made available to Bidco by the Ares Funds. Upon the Scheme becoming Effective, all of the non-executive directors of Euromoney shall resign and from that point will cease to be directors of Euromoney and the existing contractual and statutory employment rights, including pension rights, of all management and employees of the Euromoney Group will be fully safeguarded. The Euromoney Shares are currently admitted to trading on the London Stock Exchange's Main Market, and, as set out in paragraph 15, an application will be made to the London Stock Exchange to cancel the trading of Euromoney Shares on the Main Market and to the FCA for the cancellation of trading of the Euromoney Shares on the Official List and re-register Euromoney as a private company. The cash consideration payable to the Euromoney Shareholders under the terms of the Acquisition will be financed through a combination of funds committed to Bidco of (i) equity financing drawn down from the Astorg Funds, Epiris Funds and Ares Funds; and (ii) debt financing to be provided under certain term loan facilities made available to Bidco by the Ares Funds. ANDREW RASHBASS will step down as Chief Executive Officer on completion of transaction.The Proposal is subject to, amongst other matters, completion of confirmatory due diligence. Euromoney Directors intend to recommend unanimously that the Euromoney Shareholders vote or procure votes in favour of the Scheme at the Court Meeting and the Resolutions to be proposed at the General Meeting. The transaction is subject to the receipt of certain regulatory, anti-trust approvals including the Cyprus Commission for Protection of Competition and United States - anti-trust and sanction of the Scheme by the Court. The Court and general meeting will held on September 8, 2022. Buyer is pleased to confirm that: (i) the waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976 (as amended) is due to expire on September 7, 2022; and (ii) the statutory review period under the Cyprus Control of Concentrations Between Undertakings Law, Number 83(I)/2014 is expected to expire on or before September 30, 2022. On September 8, 2022, Shareholders of Euromoney approved the transaction in meeting & scheme remains subject to the sanction by the Court at the Court Hearing, which is expected to take place in Q4 2022. As of November 11, 2022 all of the Conditions relating to the regulatory and antitrust approvals have now been satisfied. The Court Hearing in relation to the Scheme is due to take place on November 22, 2022. The Court Hearing has been scheduled to be held on November 22, 2022. As of November 22, 2022 court has approved the scheme. Listing of Euromoney Shares on the Official List and dealings in Euromoney Shares on the London Stock Exchange are each expected to be suspended on November 24, 2022. The Acquisition is currently expected to complete during the fourth quarter of 2022.

Mark Sorrell, Nick Harper and Khamran Ali of Goldman Sachs International and Jonathan Retter and Jonathan Rowley of UBS AG, London Branch acted as Financial advisor and Numis acted as broker and Freshfields Bruckhaus Deringer LLP acted as legal advisor to Euromoney. Geoff Iles, George Close-Brooks and Alex Newman of Merrill Lynch International, Stuart Sparkes and George Watson of Raymond James Financial International, Ltd. acted as financial advisers and Latham & Watkins LLP acted as legal advisor to Astorg Asset Management and Epiris. Equiniti Limited acted as registrar to Euromoney. Bidco is pleased to note that leading independent proxy adviser firms Institutional Shareholder Services Inc. ("ISS"), Glass Lewis & Co, LLC ("Glass Lewis") and Pensions & Investment Research Consultants Ltd.

Astorg Asset Management S A.R.L., Epiris GP III Limited and Epiris GP Limited completed the acquisition of Euromoney Institutional Investor PLC (LSE:ERM) on November 24, 2022. Euromoney will be delisting from the London Stock Exchange on November 25, 2022. The acquisition will enable the acceleration of the execution of Euromoney's strategy across its different business units.