Disposal of shares in Pension Insurance Corporation Group Limited

The board of directors of Reinet Investments Manager S.A. announced on 3 July 2025, on behalf of Reinet Investments S.C.A., that Reinet Fund S.C.A., F.I.S. (“Reinet”) reached an agreement with Athora UK Holding Limited, a subsidiary of Athora Holding Ltd (together “Athora”), for the acquisition of its total shareholding in Pension Insurance Corporation Group Limited ("PICG").

This acquisition by Athora forms part of a broader transaction structure involving the sale of all the shares in PICG held by entities controlled by the Abu Dhabi Investment Authority, CVC Capital Partners, and HPS Investment Partners, as well as employees and other shareholders.

The Prudential Regulation Authority (“PRA”) in consultation with the Financial Conduct Authority (“FCA”) has today, 6 March 2026, granted its approval for the change in control arising from the acquisition of PICG by Athora in accordance with the Financial Services and Markets Act 2000.

The transaction is no longer subject to any further conditions and completion is expected on or around 27 March 2026. Reinet is now expected to receive some GBP 2.9 billion on the day of completion.

Interested parties may also refer to the public announcements made by PICG available at www.pensioncorporation.com, and by Athora available at www.athora.com.

Important notices

This announcement is for information purposes only and does not constitute a recommendation to acquire or sell any securities in Reinet.

The issue of this announcement shall not, for the avoidance of doubt, in any circumstances, create any implication that Reinet shall be required to provide further updates on the status of any matters contemplated in this announcement (save as may be required by law or regulation).

For the avoidance of doubt, the contents of these websites are not incorporated into, and do not form part of, this announcement.

Forward-looking statements

This announcement includes statements that are, or may be deemed to be, forward-looking statements. No assurances can be given that the forward-looking statements in this announcement will be realised. As a result, no undue reliance should be placed on these forward-looking statements as a prediction of actual events or otherwise.

Reinet Investments S.C.A.
R.C.S. Luxembourg B 16 576
Legal Entity Identifier : 222100830RQTFVV22S80
Registered office: 35, boulevard Prince Henri, L-1724 Luxembourg, Tel. (+352) 22 42 10, Fax (+352) 22 72 53
Email: info@reinet.com, website: www.reinet.com