RESPONSE TO REVISED POSSIBLE OFFER ANNOUNCEMENT

About this update from Brave Bison Group Plc

FOR IMMEDIATE RELEASE   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 OR REGULATIONS OF SUCH JURISDICTION THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.   6 June 2024 The MISSION Group plc ("MISSION", the "Company" or the "Group") RESPONSE TO REVISED POSSIBLE OFFER ANNOUNCEMENT BY BRAVE BISON GROUP PLC MISSION Group plc (AIM: TMG), notes the announcement released on 3 June 2024 by Brave Bison Group plc ("Brave Bison") in accordance with Rule 2.4 of the City Code on Takeovers and Mergers (the "Code") and confirms, in line with the announcement it made on 4 June 2024, that on 25 May 2024, it received a further unsolicited conditional proposal regarding a possible offer by Brave Bison for the entire issued and to be issued share capital of MISSION.  Such possible offer comprised an all-share offer at an exchange ratio of 13.9 Brave Bison shares for each ordinary share in MISSION, a partial cash alternative of up to 50 per cent. of the potential offer price and the intention to undertake an underwritten share placing to reduce indebtedness of the proposed combined group (the "Revised Possible Offer"). The board of MISSION ("Board") understands that the amount of such partial cash alternative and the quantum of any proposed reduction in indebtedness for the proposed combined group is not certain and will be determined by Brave Bison following a period of due diligence. Based on the terms of the Revised Possible Offer and the closing market prices of MISSION and Brave Bison shares on 10 May 2024, being the last trading day prior to Brave Bison's 12 May 2024 announcement of the initial possible offer, the Revised Possible Offer values each MISSION share at approximately 35 pence1. Were the Revised Possible Offer to be implemented on its indicative terms, prior to any proposed equity fundraising, this would result in MISSION's shareholders holding approximately 50 per cent. of the proposed combined group. On 6 June 2024, the Board of MISSION, following consultation with its financial advisers and a period of engagement with certain of its shareho...

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