STG Allegro Executive Fund, L.P., STG Allegro, L.P., STG Allegro-A, L.P. managed by Symphony Technology Group, LLC, entered into a scheme of arrangement to acquire Gresham Technologies plc (LSE:GHT) from Kestrel Partners LLP, Herald Investment Trust PLC (LSE:HRI), managed by Herald Investment Management Ltd., Schroder Investment Management Limited, J O Hambro Capital Management Limited, Amati Global Investors Limited and others for £140 million on April 9, 2024. the Acquisition will be financed through a combination of equity and debt financing. The Gresham Directors, who have been so advised by Houlihan Lokey as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. Accordingly, the Gresham Directors intend unanimously to recommend that Gresham Shareholders vote in favor of the Scheme at the Court Meeting and in favor of the Special Resolution to be proposed at the General Meeting. The Scheme is expected to become Effective during the third quarter of the calendar year 2024. As on April 11, 2024, Schroders confirmed that it made a series of sales of, in aggregate, 4,375,167 Gresham Shares that were subject to the Schroders Letter of Intent. The total number of Gresham Shares which are subject to the Schroder Letter of Intent has reduced to 3,360,333 Gresham Shares, representing approximately 4.01 per cent of the issued share capital of Gresham and the total number of Gresham Shares which are subject to irrevocable undertakings and a letter of intent has reduced to 33,722,666 Gresham Shares, representing approximately 40.21% of the issued share capital of Gresham as at close of business on April 11, 2024, being the last business date prior to this announcement. The total number of Gresham Shares which are subject to the Amati Letter of Intent has reduced to 2,189,500 Gresham Shares, representing approximately 2.61% of the issued share capital of Gresham as at close of business on April 17, 2024, being the last business date prior to this announcement; and the total number of Gresham Shares which are subject to irrevocable undertakings and a letter of intent has reduced to 32,722,666 Gresham Shares, representing approximately 39.01% of the issued share capital of Gresham as at close of business on April 17, 2024, being the last business date prior to this announcement. On 19 April 2024, Schroders confirmed that it had disposed of a further 860,333 Gresham Shares that were subject to the Schroders Letter of Intent, As a result, following completion of the sale of the sold Shares, the total number of Gresham Shares which are subject to the Schroder Letter of Intent has reduced to 2,500,000 Gresham Shares, representing approximately 2.98 per cent of the issued share capital of Gresham as at close of business on 19 April 2024, being the last business date prior to this announcement; and the total number of Gresham Shares which are subject to irrevocable undertakings and a letter of intent has reduced to 30,862,333 Gresham Shares, representing approximately 36.80 per cent of the issued share capital of Gresham as at close of business on 19 April 2024, being the last business date prior to this announcement. As of May 16, 2024, J O Hambro confirmed that it made a sale of 450,000 Gresham Shares that were subject to the J O Hambro Letter of Intent. On June 5, 2024, J O Hambro confirmed that it had disposed of a further 250,000 Gresham Shares that were subject to the J O Hambro Letter of Intent (the "5 June Sold Shares"). J O Hambro informed Bidco that the 5 June Sold Shares comprised Gresham Shares that were subject to the J O Hambro Letter of Intent. On June 19, 2024, J O Hambro confirmed that it had disposed of a further 500,000 Gresham Shares that were subject to the J O Hambro Letter of Intent (the "19 June Sold Shares"). J O Hambro informed Bidco that the June 19, 2024, Sold Shares comprised Gresham Shares that were subject to the J O Hambro Letter of Intent. On 25 June 2024, J O Hambro confirmed that it had disposed of a further 1,200,000 Gresham Shares that were subject to the J O Hambro Letter of Intent (the "25 June Sold Shares"). J O Hambro informed Bidco that the 25 June Sold Shares comprised Gresham Shares that were subject to the J O Hambro Letter of Intent. As a result, following completion of the sale of the sold Shares; the total number of Gresham Shares which are subject to the J O Hambro Letter of Intent has reduced to 0 Gresham Shares; and the total number of Gresham Shares which are subject to irrevocable undertakings and a letter of intent has reduced to 27,259,490 Gresham Shares, representing approximately 32.42 per cent of the issued share capital of Gresham as at close of business on 25 June 2024, being the last business date prior to this announcement.

William Blair International, Ltd acted as a financial advisor, Matthew Poxon, Steve L. Camahort, Peter Hayes and Jade-Alexandra Fearns of Paul Hastings LLP acted as a legal advisor to Symphony Technology Group, LLC. Houlihan Lokey provided the fairness opinion, and acted as a financial advisor, Taylor Wessing LLP acted as a legal advisor to Gresham Technologies plc (LSE:GHT).

STG Allegro Executive Fund, L.P., STG Allegro, L.P., STG Allegro-A, L.P. managed by Symphony Technology Group, LLC completed acquisition of Gresham Technologies plc (LSE:GHT) from Kestrel Partners LLP, Herald Investment Trust PLC (LSE:HRI), managed by Herald Investment Management Ltd., Schroder Investment Management Limited, J O Hambro Capital Management Limited, Amati Global Investors Limited and others on July 9, 2024.