Statement re Ideagen plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

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

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

19 May 2022

Astorg Asset Management, S.à r.l.("Astorg")

Statement regarding Ideagen plc ("Ideagen" or "the Company")

Further to the announcements made by Ideagen on 5 May 2022 and 9 May 2022 in which Astorg was identified as a potential bidder for Ideagen, Astorg today confirms that funds represented by Astorg do not intend to make an offer for Ideagen pursuant to Rule 2.7 of the Code.

Under Note 2 on Rule 2.8 of the Code, Astorg reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances:

(i) in the event that the offer by Hg Pooled Management Limited ("Hg") is withdrawn or lapses, with the agreement of the board of Ideagen;

(ii) if a third party other than Hg announces a firm intention to make an offer for Ideagen;

(iii) if Ideagen announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or

(iv) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers).