System1 Group PLC SYS1

While the leveraged loan default rate remained below 1% in July, the secondary market is sending a signal that trouble may be brewing. The distress ratio, which is defined as the share of loans trading below 80 cents on the dollar, rose to 6.89% in July. The ratio has now been above 6.25% for the past six months, suggesting a growing pipeline of potential candidates for liability management exercises (LMEs). There were no payment defaults reported in the Morningstar LSTA US Leveraged Loan Index

FORM 8 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser:OCTOPUS INVESTMENTS LTD(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in