National World plc

("National World," or the "Company")

VCP Update and Publication of Annual Report

National World (LSE: NWOR) announces that the Value Creation Plan ("VCP") award granted to Mr David Montgomery on 17 April 2019 is fully vested. The Exercise Period stipulated by the VCP rules ends on the second anniversary of the Testing Date. The Testing Date was 17th April 2023 (being the dealing day after 14th April which was the 20th dealing day of the Testing Period). Accordingly, absent an extension, Mr Montgomery would be required to exercise his rights in respect of the award to acquire 4,432,177 shares under the VCP by 17 April 2025. 

The Remuneration Committee has discretionary power under the VCP rules to extend the exercise period in certain circumstances. Given the delays to the sanctioning of the scheme of arrangement and the announcement made by the Company on 28 March 2025, the Remuneration Committee have exercised their discretionary powers to grant a 90 day extension to the Exercise Period on the grounds that it is fair and reasonable to do so.

Additionally National World announces that the Annual Report and Accounts for the year ended 28 December 2024 is available on the Company's website: https://corporate.nationalworld.com/investors/reports-presentations-and-publications/, it has also been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

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