THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE 19.6(C) OF THE CITY CODE ON TAKEOVERS AND MERGERS, WHICH, INTER ALIA, REQUIRES A PARTY TO AN OFFER TO MAKE AN ANNOUNCEMENT AT THE END OF A PERIOD OF 12 MONTHS FROM THE DATE ON WHICH THE OFFER PERIOD ENDED CONFIRMING WHETHER IT HAS TAKEN, OR NOT TAKEN, THE COURSE OF ACTION SET OUT IN ITS STATED INTENTIONS

FOR IMMEDIATE RELEASE

18 January 2024

Ascot Acquisition Holdings Limited ("Bidco")

(an indirect subsidiary of Schneider Electric SE ("Schneider Electric"))

Rule 19.6(c) confirmation with respect to stated post-offer intentions with regard to AVEVA Group Limited (formerly AVEVA Group PLC) ("AVEVA")

Bidco refers to its recommended offer for the entire issued and to be issued ordinary share capital of AVEVA which was effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006, and which became effective on 18 January 2023 (the "Acquisition"). As required by Rule 19.6(c) of the Code, Bidco has duly confirmed in writing to The Panel on Takeovers and Mergers that it has complied with its post-offer intentions statements made pursuant to Rules 2.7(c)(viii) and 24.2, as originally detailed in its announcement made under Rule 2.7 of the Code on 21 September 2022 and the scheme document published on 18 October 2022.

Enquiries:

Important notices

Citigroup Global Markets Limited ("Citi"), which is authorised by the Prudential Regulation Authority and regulated in the UK by the Financial Conduct Authority and the Prudential Regulation Authority is acting exclusively as financial adviser to Schneider Electric and Bidco and for no one else in relation to the Acquisition, and any other matters described in this announcement, and will not be responsible to anyone other than Schneider Electric and Bidco for providing the protections afforded to its clients nor for providing advice in connection with the Acquisition, or any other matters described in this announcement. Neither Citi nor any of its affiliates, directors or employees owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, consequential, whether in contract, tort, in delict, under statute or otherwise) to any person who is not a client of Citi in connection with this announcement, any statement contained herein, the Acquisition or otherwise.