Aquiline Capital Partners LLC ("Aquiline") noted statement by Nucleus Financial Group plc (AIM:NUC) on December 2, 2020 regarding a possible offer for Nucleus Financial Group plc (AIM:NUC) and announced that, following highly preliminary discussions, it does not intend to make an offer for Nucleus. As a result of this announcement, Aquiline will be bound by the restrictions contained in Rule 2.8 of the Code. For the purposes of Rule 2.8 of the Code, Aquiline reserves the right to make or participate in an offer or possible offer for Nucleus (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within 6 months following the date of this announcement: 1. with the agreement of the Board of Nucleus; 2. following the announcement of a firm intention to make an offer for Nucleus by a third party; 3. following the announcement by Nucleus of a "whitewash" proposal (for the purposes of Note 1 on the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or 4. if the Panel on Takeovers and Mergers determines that there has been a material change of circumstances.