Augean : Scheme Document – Consent Letter – Greenhill

Greenhill & Co. International LLP Lansdowne House

57 Berkeley Square

London W1J 6ER

United Kingdom

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STRICTLY PRIVATE & CONFIDENTIAL

To:	Antwerp Management Limited ("Antwerp")

16 August 2021

Dear Sirs / Madam

Recommended offer by Morgan Stanley Infrastructure Inc. ("MSI"), via Antwerp as the bidder, an indirect wholly-owned subsidiary of MSI, for the entire issued and to be issued share capital of Augean plc ("Augean") (the "Offer").

We refer to the scheme document (the "Scheme Document") to be posted to shareholders of Augean on or around the date of this letter in connection with the Offer.

We hereby confirm that we have given and not withdrawn our consent to the inclusion in the Scheme Document of the references to our name in the form and context in which they appear.

This letter is for your information only and should not be relied upon by any other person.

Yours faithfully,

Greenhill & Co. International LLP

By ____________________________

Managing Director

Greenhill & Co. International LLP is incorporated in England with limited liability (Registered no. 300796). Registered Office: Lansdowne House, 57 Berkeley Square, London W1J 6ER, UK. Greenhill & Co. International LLP is an affiliate of Greenhill & Co., Inc., which is incorporated and has its head office located in New York, USA.

Greenhill & Co. International LLP is regulated by the Financial Conduct Authority for the conduct of investment business.