Vsa Capital Group PlcAQUIS: VSA

TR-1: Notification of Major Holdings

· Issued by Vsa Capital Group Plc

TR-1: Standard form for notification of major holdings

1.   Issuer Details

ISIN

GB00BMXR4K91

Issuer Name

VSA Capital Group plc

UK or Non-UK Issuer

UK

2. Reason for the notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Drakewood Capital Management Limited

City and country of registered office (if applicable)

London, United Kingdom

4. Details of the shareholder

Name

Drakewood Capital Management Limited

City and country of registered office (if applicable)

London, United Kingdom

5. Date on which the threshold was crossed or reached:

06/01/2026

6. Date on which issuer notified:

07/01/2026

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer (8.A + 8.B) vii

Resulting situation on the date on which threshold was crossed or reached

20.01

7.75

27.76

6,270,000

Position of previous notification (if

applicable)

19.92

7.75

27.67

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rights

% of voting rights

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

GB00BMXR4K91

4,520,000

20.01

SUBTOTAL 8. A

4,520,000

20.01

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expiration
date

Exercise/
Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/converted.

% of voting rights

Warrant

N/A

N/A

1,750,000

7.75

SUBTOTAL 8. B 1

1,750,000

7.75

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expiration
date

Exercise/
Conversion Period

Physical or cash Settlement

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)

Name

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information

Place of completion

Drakewood Capital Management Limited, 16 Great Queen Street, London, WC2B 5AH

Date of completion

07 January 2026

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