OTAQ : Open Offer Application Form for the General Meeting

THIS APPLICATION FORM IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. THIS APPLICATION FORM IS PERSONAL TO THE SHAREHOLDER(S) NAMED IN IT AND MAY NOT BE ASSIGNED OR TRANSFERRED OR SOLD (EXCEPT TO SATISFY BONA FIDE MARKET CLAIMS). IT IS NOT A NEGOTIABLE DOCUMENT OR A DOCUMENT OF TITLE AND CANNOT BE TRADED. If you have sold or transferred all of your registered holding of Existing Ordinary Shares prior to the Record Date you should complete the declaration in Box 10 and forward this Application Form at once together with the Circular of the Company dated 12 October 2022 (the "Circular") to the purchaser or transferee or to the stockbroker, bank or other agent through or to whom the sale or transfer was effected for transmission to the purchaser or transferee or for splitting as appropriate. However, such documents should not be forwarded, transmitted or distributed in or into the United States, Australia, Russia, the Republic of South Africa, New Zealand, Canada or Japan or their respective territories or possessions or any other jurisdiction where the availability of the Placing and Open Offer would breach any applicable law unless in the relevant territory such an invitation or offer to subscribe could lawfully be made to such person or such Application Form could lawfully be used without contravention of any registration or other legal requirements. If you have sold or transferred only part of your holding, please see the instructions regarding transfer and splitting on page 3. If you are in any doubt as to the contents of this document or the action you should take, you are recommended to seek immediately your own personal financial advice from your stockbroker, bank manager, solicitor, accountant or other appropriate independent financial adviser duly authorised under the Financial Services and Markets Act 2000, as amended. This Application Form should be read in conjunction with the Circular accompanying this Application Form or otherwise made available on the Company's website. The definitions used in the Circular also apply to this Application Form. The terms and conditions of the Open Offer in the Circular also apply to this Application Form.

Application will be made to the Aquis Stock Exchange for the New Ordinary Shares to be admitted to trading on the Aquis Growth Market. Admission to the Aquis Growth Market and commencement of dealings is expected to commence on 9 November 2022. The New Ordinary Shares have not been and will not be registered or qualified under the relevant laws of any of the Restricted Jurisdictions or any state, province or territory thereof and, subject to certain exceptions, may not be offered, sold, resold, taken up, transferred, delivered or distributed, directly or indirectly, within any Restricted Jurisdiction. THIS APPLICATION FORM MAY NOT BE REPUBLISHED, DISTRIBUTED OR TRANSMITTED BY ANY MEANS OR MEDIA, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES. This Application Form does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. Securities may not be offered or sold in the United

Box 1	States absent (i) registration under the US Securities Act or (ii) an available exemption
Name(s) and address of registered holder(s)	from registration under the US Securities Act. The New Ordinary Shares mentioned
	herein have not been, and will not be, registered under the US Securities Act and will
	not be offered in the United States. The offer is being made outside the United States
	in offshore transactions, as defined in, and in reliance on, Regulation S. I/We
	acknowledge that the Open Offer Shares may not be sold, transferred or otherwise
	disposed of, except pursuant to an exemption from the prospectus requirements
	under Canadian securities laws, to any person in Canada or otherwise into Canada
	for a period of four months plus one day from the date of admission of the New
	Ordinary Shares to Aquis Growth Market. Dowgate who are authorised and regulated
	by the Financial Conduct Authority in the United Kingdom are acting exclusively for
	the Company in relation to the Placing and Open Offer and will not be responsible to
	anyone other than the Company for providing the protections afforded to clients of
	Dowgate nor for providing advice in relation to the Placing, Open Offer, contents of
	the Circular, this Application Form or the transactions referred to therein or any other
	transaction or arrangement referred to in the Circular. Queries relating to this
	Application Form should be referred to Share Registrars Limited between 9.00 a.m.
	and 5.00 p.m. (London time) Monday to Friday on 01252 821390 from within the UK or
	[phone] if calling from outside the UK. Calls to the 01252 821390 number are
	charged at your network provider's standard rates. Calls to the helpline from outside
	the UK will be charged at applicable international rates. Different charges may apply
	to calls from mobile telephones and calls may be recorded and randomly monitored
	for security and training purposes. The helpline cannot provide advice on the merits
	of the Capital Raising nor give any financial, legal or tax advice. Copies of the Circular
	can be obtained from the registered office of the Company during normal business
	hours on any Business Day from the date of the Circular until the last date for
	acceptances under the Open Offer. The contents of the Circular and this Application
	Form are not to be construed as legal, financial, business or tax advice.

ALLOTMENT FORM NUMBER:

Box 2	Box 3
Number of Existing Ordinary Shares	Pro rata entitlement to New Ordinary Shares (entitlement
registered in your name(s) at the close of business on	rounded down to the nearest whole number), equal to the
11 October 2022 (Record Date)	number of Open Offer Entitlements allocated to you

Box 4 Amount payable if you apply for your pro rata entitlement set out in Box 3 (Box 3 x 4p)

APPLICATION FORM

Box 5	Box 6	Box 7	Box 8
Number of New Ordinary Shares for	Number of additional Open Offer Shares	Total number of Open Offer Shares for which	Amount enclosed (at 4p per Open Offer
which application is being made pursuant	(if any) for which application is being made under	application is being made	Share applied for)
to your Open Offer Entitlement	the Excess Application Facility	(Box 5 + Box 6)	(Box 7 x 4p)
(as set out in Box 3)

OTAQ PLC

(Registered in England and Wales with Registered Number 11429299)

Open Offer of up to 30,206,441 Open Offer Shares at 4 pence per share payable in full on application to be received not later than 11.00 a.m. on 28 October 2022

Box 9

Send the completed Application Form together with payment by post or by hand (during normal business hours) to:

Share Registrars Limited

3 The Millennium Centre

Crosby Way

Farnham

Surrey

GU9 7XX

SIGNATURE BOX - FOR USE ONLY BY PERSON(S) NAMED IN BOX 1 ABOVE.

First or sole holder

(1) Usual Signature................................................................................................................

Latest time and date for splitting		3.00 p.m. on 26	October 2022
Latest time and date for receipt of completed
Application Forms and payment	11.00 a.m. on 28	October 2022
Expected date for CREST Stock Accounts to
be credited with Open Offer Shares		9	November 2022
Expected date for despatch of share and warrant certificates	23	November 2022

ALL JOINT HOLDERS MUST SIGN THIS BOX. If you are not the person(s) named in Box 1 above please see Box 11 on page 4.

Joint holders (if any)

(2) Usual Signature................................................................................................................

Dated ..................................................................................................................................

(3) Usual Signature................................................................................................................

(4) Usual Signature................................................................................................................

BY SIGNING THIS BOX I/WE DECLARE THAT I/WE AM/ARE MAKING THE APPLICATION FOR OPEN OFFER SHARES ON THE TERMS AND CONDITIONS SET OUT IN THIS APPLICATION FORM ON PAGE 2 AND IN THE CIRCULAR (INCLUDING THE UNDERTAKINGS, REPRESENTATIONS AND WARRANTIES SET OUT IN THIS APPLICATION FORM AND THE CIRCULAR).

PAGE 2

To the Directors of OTAQ Plc (the "Company") and Dowgate Capital Limited ("Dowgate"):

1. I/We being the registered holder(s) at the close of business on 11 October 2022 (the "Record Date") of the number of Existing Ordinary Shares set out in Box 2 (or the beneficial owners of any of those shares by virtue of a bona fide market claim), hereby irrevocably apply to subscribe at the Issue Price for the number of Open Offer Shares in Box 7, and agree to accept the same on the terms and subject to the conditions set out in the Circular and this Application Form and subject to the Articles of Association of the Company. If no number is inserted in Box 7 (or if a number is inserted in Box 7 which is inconsistent with the amount of the remittance accompanying this Application Form and shown in Box 8), I/we agree that I/we shall be deemed to have applied for the lesser of (a) the number of Open Offer Shares shown in Box 7 or (b) such number of Open Offer Shares at 4p per Open Offer Share as is covered by the remittance which accompanies this Application Form.
2. Subject to paragraph 1, should I/we have applied for a greater number of Open Offer Shares in Box 7 than my/our pro rata entitlement set out in Box 3, then I/we acknowledge and agree that the actual number of Open Offer Shares applied for by me/us may be scaled back in the event that applications received from Qualifying Shareholders are in excess of the available number of Open Offer Shares.
3. I/We enclose a sterling cheque or banker's draft payable in pounds sterling in favour of "Share Registrars Limited Receiving Agent Account" and crossed "A/C Payee only" for the amount inserted in Box 8, being the amount payable in full on application for the number of Open Offer Shares for which I/we have applied.
4. In consideration of your agreeing to accept this application to subscribe for the Open Offer Shares applied for, or deemed to be applied for, in accordance with the provisions of this Application Form, upon and subject to, the terms and conditions set out herein and in the Circular I/we undertake that this application shall be irrevocable and agree that the completion and return of this Application Form and accompanying payment shall constitute a conditional contract between me/us and you, which shall become binding upon receipt by Share Registrars Limited of this Application Form and the accompanying payment and the satisfaction of the conditions to which the Open Offer is subject. I/We acknowledge that you reserve the right to treat any application not complying strictly with the terms and conditions of application as nevertheless valid.
5. I/We acknowledge that the Company reserves the right, in its absolute discretion, to reject any application or purported application under the Open Offer in the circumstances described in Part III of the Circular entitled "Terms and conditions of the Open Offer".
6. I/We request and authorise the Company and/or its agents to credit my/our CREST Stock Account with the appropriate number of Open Offer Shares or to send to me/us a definitive certificate in respect of the Open Offer Shares for which this application is accepted, together with a certificate for the Warrants granted to me, by post at my/our risk either to the address above or, if the name and address of my/our agent is inserted in Box 12, to my/our agent at such address as appropriate and to procure my/our name(s) to be placed on the share register and warrant register respectively of the Company. I/We acknowledge that pending despatch of definitive share certificates, transfers will be certified against the share register of the Company. I/We acknowledge that, notwithstanding that Box 13 may be completed or that I/we may hold my/our Existing Ordinary Shares in a CREST Stock Account, the Company and its agents reserve the right to issue Open Offer Shares in certificated form. I/We acknowledge that if the Open Offer Shares for which application is made are credited to my/our CREST Stock Account then I/we will not be sent a share certificate, confirmation of the credit to the CREST Stock Account or any other written communication from the Company in respect of its issue of the Open Offer Shares.
7. I/We authorise the Company and/or its agents to present the enclosed cheque or banker's draft on receipt and to withhold definitive share certificates and warrant certificates or to withhold crediting my/our CREST Stock Account pending clearance thereof. In the event that any of the conditions of the Open Offer set out in the Circular are not fulfilled or waived by 8.00 a.m. on 9 November 2022, or such later time and date as the Company and/or Dowgate may agree (not being later than 8.00 a.m. on 22 November 2022), I/we authorise you or your agent to return such application monies without interest, to me/us by post at my/our risk either to the address set out on page 1, or to the name and address of my/our agent if inserted in Box 12 as soon as practicable thereafter.
8. In the event that the number of Open Offer Shares applied for by me/us is scaled back in accordance with the terms and conditions of the Open Offer, I/we authorise the Company or its agents to return that part of the application money which relates to the excess Open Offer Shares not allotted to me/us as a result of the scaling back without payment of interest to me/us by post at my/our risk either to the address given above or to the agent whose name appears in Box 12.
9. I/We acknowledge that due completion of this Application Form accompanied by a cheque or banker's draft constitutes a warranty on my/our part that the cheque or banker's draft will be honoured on first presentation and that this shall constitute a fundamental term of the application and that this application may be deemed invalid if such cheque or banker's draft is not so honoured. I/We acknowledge that you reserve the right to instruct Share Registrars Limited to seek special clearance of cheques to allow the Company to obtain value for remittances at the earliest opportunity.
10. I/We acknowledge that the dates and times referred to in this Application Form may be altered by the Company and Dowgate so as to be consistent with the Placing and Open Offer Agreement (as the same may be altered from time to time in accordance with its terms).
11. I/We represent and warrant that I/we am/are:

1. 1. not resident in a Restricted Jurisdiction, or a citizen or resident of, or a corporation, partnership or other entity created or organised in or under any laws of any such jurisdiction, or an estate or trust the income of which is subject to income taxation of any such jurisdiction, regardless of its source, and that I/we was/were not in any such jurisdiction at the time of my/our application herein and that I/we am/are not applying on behalf of any person in any such jurisdiction or with a view to the offer, sale, resale, delivery or transfer of Open Offer Shares directly to or into any such jurisdiction; or
   2. not (a) person(s) otherwise prevented by legal or regulatory restrictions from applying for Open Offer Shares under the Open Offer; or
   3. not acting on behalf of any such person(s) on a non-discretionary basis; or
   4. in making this application not relying on information or a representation relating to the Company other than that contained in the Circular; or
   5. not in breach of the provisions of paragraph 1 under "Instructions for Transfer, Splitting and Consolidation" on page 3 of this Application Form; or
   6. not located inside the United States and am/are not acting for the account or benefit of a person located within the United States at the time the undertaking to subscribe for Open Offer Shares was given and am/are not acquiring the Open Offer Shares with a view to the offer, sale, resale, transfer, delivery or distribution, directly or indirectly, of any Open Offer Shares in the United States.
2. I/We represent and warrant that, except where the extension or availability of the Open Offer would not breach any applicable laws or regulations I/we have not received from or sent copies of this Application Form into the United States, Canada or any other Restricted Jurisdiction and I/we have not otherwise utilised in connection with the Open Offer, directly or indirectly, the mail or any other means of instrumentality (including without limitation email, facsimile, transmission, telex or telephone) of interstate or foreign commerce or any facilities of a national securities exchange of the United States, Canada or any other Restricted Jurisdiction or any other jurisdictions.
3. I/We acknowledge that, subject to the exceptions set out in the Circular, no application will be treated as valid which is received in an envelope postmarked in, or which otherwise appears to the Company or its agents to have been despatched in or from the United States, Canada or any other Restricted Jurisdiction or any other jurisdiction where the extension or availability of the Open Offer would breach any applicable laws or regulations for registration or issue of certificates representing Open Offer Shares or Warrants and that the Company reserves the right to treat an Application Form as invalid if it believes the making of such an application may violate any legal or regulatory requirements in any jurisdiction.
4. I/We represent and warrant that I/we am/are not, and nor am/are I/we applying as a nominee or agent for, a person who is or may be liable to notify and account for tax under the Stamp Duty Reserve Tax Regulations 1986 at any of the increased rates referred to in section 67 (depository receipts), section 70 (clearance services), section 93 (depository receipts) or section 96 (clearance services) of the Finance Act 1986.
   Note: If you cannot give the warranties in 11, 12 and 14 you may not make this application.
5. The verification of identity requirements of the Money Laundering Regulations 2017 as set out in Part III of the Circular will apply and verification of the identity of applicants may be required. I/We represent and warrant that on request by Share Registrars Limited I/we will provide Share Registrars Limited with such information and other evidence as they may require to satisfy the verification of identity requirements and I/we acknowledge that failure to provide the relevant information within a reasonable period of time following a request for verification of identity may result in rejection of the application in which event the monies payable on application will be returned, without interest, to the account at the drawee bank from which such monies were originally debited.
6. I/We agree that, having had the opportunity to read the Circular, I/we shall be deemed to have had notice of all the information concerning the Company contained therein.
7. I/We acknowledge that no person responsible solely or jointly for the Circular or any part thereof or involved in the preparation thereof shall have any liability for any information not contained in the Circular.

PAGE 3

INSTRUCTIONS FOR COMPLETION OF THIS FORM

1. If you wish to apply for Open Offer Shares you must complete Boxes 5, 7 and 8 and then sign where indicated either on page 1 or in Box 11 (as applicable) and return this Application Form, together with a remittance for the sum inserted by you in Box 8 (as applicable) so as to arrive with Share Registrars Limited (details in Box 9) not later than 11.00 a.m. on 28 October 2022. If you wish to apply for more than your pro rata entitlement please also complete Box 6. All joint holders must sign. If you do not wish to apply for any Open Offer Shares, you need take no further action but in any event you are urged to complete and return the Form of Proxy.
2. Your pro rata entitlement is shown in Box 3. If you wish to apply for more Open Offer Shares than your pro rata entitlement, then enter in Box 6 the number of additional Open Offer Shares you would like to apply for and enter the relevant amount payable in Box 8. Excess applications will be satisfied to the extent that they comply with the restriction on the maximum number of Open Offer Shares that can be applied for and to the extent that corresponding applications by other Qualifying Shareholders are not made or are made in aggregate for less than the total number of Open Offer Shares being offered by the Company. However, applications under the Excess Application Facility may be scaled back in such manner as the Directors determine if applications are received for more than the available Open Offer Shares.
3. Cheques and banker's drafts must be drawn in sterling on an account with a bank or building society in the United Kingdom, Channel Islands or Isle of Man, which is either a settlement member of the Cheque and Credit Clearing Company Limited or the CHAPS Clearing Company Limited, or which has arranged for its cheques or banker's drafts to be cleared through the facilities provided by the members of either of those companies or committees and must bear the appropriate sort code in the top right hand corner and must be for the full amount payable on application. Cheques which must be drawn on the personal account of the individual investor where they have sole or joint title to the funds, should be made payable to "Share Registrars Ltd Receiving Agent Account" and crossed "A/C payee only". Third party cheques will not be accepted with the exception of building society cheques or banker's drafts where the building society or bank has confirmed the name of the account holder by endorsing the cheque/banker's draft to such effect. The account name should be the same as that shown on the application. No receipt will be given in respect of this Application Form. Application monies will be kept in a separate non-interest bearing bank account pending the Open Offer becoming unconditional.
4. A corporation should execute this form under seal, or as a deed, or sign under the hand of a duly authorised officer who should state his capacity.
5. An individual must sign this Application Form. IN THE CASE OF JOINT HOLDERS, ALL MUST SIGN.
6. If this Application Form is signed under a power of attorney or other authority, such power of attorney or other authority or a duly certified copy thereof must accompany this Application Form.
7. All documents or remittances sent by or to an applicant, or as he or she or it may direct, will be sent through the post at his or her or its risk.
8. This Application Form may be transferred or split but only to satisfy bona fide market claims, and may also be consolidated. Instructions for transfers, splitting and consolidation are set out below.
9. The attention of Overseas Shareholders is drawn to Part III of the Circular and, in particular, to the matters set out therein under the heading "Overseas Shareholders". This Application Form is not being sent to Shareholders in the United States or with registered addresses in the United States, Canada or any other Restricted Jurisdiction unless such Shareholder satisfies the Company that an allotment is permitted under an exemption from applicable securities laws. This Application Form and the Circular may not be treated as an invitation to any Shareholders in any such jurisdictions to subscribe for any Open Offer Shares. Other than as set out in the preceding sentence, no person receiving a copy of the Circular and/or this Application Form in any territory other than the United Kingdom may treat the same as constituting an invitation or offer to him to subscribe, nor should he in any event use this Application Form unless in the relevant territory such an invitation or offer to subscribe could lawfully be made to such person or such Application Form could lawfully be used without contravention of any registration or other legal requirements. It is the responsibility of any person outside the United Kingdom wishing to make an application hereunder to satisfy himself as to full observance of the laws of the relevant territory in connection therewith, including obtaining any governmental or other consents which may be required or observing any other formalities needing to be observed in such territory and submission of an Application Form will constitute a warranty by you that you have complied with all such regulatory requirements. The Company reserves the right to treat as invalid any Application Form that appears to it or its agents to have been executed or despatched in a manner which may involve a breach of securities legislation of any jurisdiction.
10. It is expected that certificates in respect of Open Offer Shares and Warrants will be despatched to the registered address of the sole or first named Shareholder shown on page 1 or, where Box 10 has been completed, to the address of the person shown in Box 11 by no later than 23 November 2022. It is expected that the relevant Open Offer Shares will be credited to the relevant CREST Stock Account on 9 November 2022.
11. All applications in respect of the Open Offer, all acceptances thereof and all contracts resulting from such acceptances shall be governed by and construed in accordance with English law.

INSTRUCTIONS FOR TRANSFER, SPLITTING AND CONSOLIDATION

1. This Application Form may be transferred or split but only to satisfy a bona fide market claim. If you have sold or transferred all of your registered holding of Existing Ordinary Shares shown in Box 2 before 6.00 p.m. on 11 October 2022 you should complete the declaration in Box 10 and forward this Application Form at once together with the Circular and Form of Proxy to the purchaser or the transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected, for transmission to the purchaser or transferee or for splitting (as appropriate). The Application Form should not, however, be forwarded, transmitted or distributed in or into the United States, Australia, the Republic of South Africa, New Zealand, Russia, Canada or Japan or any of their territories or possessions or any other overseas jurisdiction unless in the relevant territory such an invitation or offer to subscribe could lawfully be made to such person or such Application Form could lawfully be used without contravention of any registration or other legal requirements. Box 11 and (or, if applicable) Box 13 must be completed and signed by the person(s) to whom the Existing Ordinary Shares have been sold or transferred if he or she wishes to apply on this Application Form for Open Offer Shares.
2. Split Application Forms may be obtained on surrender of this form to Share Registrars Limited, with Box 10 duly completed stating the number of Open Offer Shares to be included in each split Application Form. The number of Open Offer Shares to be applied for under each split Application Form must be stated and the aggregate of the Entitlements to which they relate must equal the number shown in Box 3 overleaf. Box 10 on each split Application Form will be marked "Declaration of sale duly made". The latest time and date for splitting is 3.00 p.m. on 26 October 2022.
3. The right to apply for Open Offer Shares represented by several Application Forms may be claimed by the person(s) to whom the Existing Ordinary Shares have been transferred as described above if Box 11 is completed on one Application Form (the "Principal Application Form") and all the Application Forms are lodged in one batch, together with a remittance for the total number of Open Offer Shares applied for. Details of each Application Form (including the Principal Application Form) should be listed in ascending application number order in the consolidation listing form (Box 14) on the Principal Application Form and the application number of the Principal Application Form should be entered in the space provided on each of the other Application Forms.
4. In the event of Boxes 10 and 11 being completed, Box 15 must be completed by the selling broker or other agent and Box 16 must be completed by the buying broker or agent.

INSTRUCTIONS FOR DEPOSITING ENTITLEMENTS UNDER THE OPEN OFFER INTO CREST

1. The entitlements under the Open Offer shown by the Open Offer Entitlements set out in Box 3 of this Application Form may be converted into uncertificated form, that is, deposited into CREST (whether you are the registered holder of the Existing Ordinary Shares set out in Box 2 or are entitled to the Open Offer Entitlements in Box 3 by virtue of a bona fide market claim). Subject as provided in paragraph 2 below, normal CREST procedures (except for the last time for stock deposits) apply in relation to any such conversion. You are recommended to refer to the CREST Manual for details of such procedures. If you are a CREST sponsored member, you should contact your CREST sponsor.
2. If you are the registered holder(s) of the Existing Ordinary Shares set out in Box 2 the CREST Deposit Form contained in Box 13 should be completed and then this Application Form be deposited by you or your CREST sponsor (as appropriate) with the CREST Courier and Sorting Service ("CCSS"). In addition, the normal CREST Stock Deposit procedures will need to be carried out, except that (a) it will not be necessary to complete and lodge a separate CREST Transfer Form (prescribed under the Stock Transfer Act 1963) with the CCSS and (b) only the total number of the Open Offer Entitlements shown in Box 3 of this Application Form may be deposited into CREST. You may deposit some only of the Open Offer Entitlements shown in Box 3 of this Application Form into CREST where you have sold part of your existing holding of Existing Ordinary Shares prior to 6.00 p.m. on 11 October 2022 only once you have applied for a split Application Form in accordance with the instructions in the paragraph headed "Instructions for Transfer, Splitting and Consolidation" above. If you are entitled to the Open Offer Entitlements shown in Box 3 by virtue of a bona fide market claim, the declaration in Box 10 must have been completed or (in the case of a split Application Form) marked "Declaration of Sale duly made", and then the CREST Deposit Form in Box 13 completed and the form deposited with the CCSS in accordance with the instructions above. If entitlements under the Open Offer represented by more than one Application Form received in settlement of bona fide market claims are to be deposited, the CREST Deposit Form in Box 13 on each Application Form letter must be completed and the forms deposited. Box 10 on each Application Form must have been completed by the registered holder(s) whose name(s) appear in Box 1 but the Consolidation Listing Form should not be used.
3. A holder of the Open Offer Entitlements shown in Box 3 of this Application Form who is proposing to convert such entitlements into uncertificated form (whether they are to be converted into uncertificated form in the name(s) of the registered holder of the Existing Ordinary Shares set out in Box 1 or in the name of the beneficial owner of any of those existing Existing Ordinary Shares by virtue of a bona fide market claim) should ensure that the conversion procedures are implemented in sufficient time to enable the person holding or acquiring the Open Offer Entitlements in CREST following the conversion to take all necessary steps in connection with applying under the Open Offer prior to 11.00 a.m. on 28 October 2022. In particular, having regard to processing times in CREST and on the part of Share Registrars Limited, the latest time for depositing an Application Form with the CCSS if you are entitled by virtue of a bona fide market claim (in order to enable you to take all necessary steps in connection with applying under the Open Offer prior to 11.00 a.m. on 28 October 2022) is 3.00 p.m. on 25 October 2022.
4. When Box 10 and the CREST Deposit Form have been duly signed, the title to the Open Offer Entitlements shown in Box 3 of this Application Form will cease forthwith to be transferable by delivery and you will be unable to satisfy a claim to apply under the Open Offer by delivery of this Application Form. Furthermore, entries in Box 11 will not be recognised or acted upon by Share Registrars Limited. All transfers of the Open Offer Entitlements to satisfy bona fide market claims must be effected through the means of the CREST system once such rights have been deposited into CREST.
5. NOTE: Deposit of this Application Form with (a) the CREST Deposit Form in Box 13 duly completed purporting to be signed by the person(s) whose name(s) appear(s) in Box 1 or (b) Box 10 on page 4, duly signed by the person(s) whose name(s) appear(s) in Box 1 or marked "Declaration of Sale duly made" and the CREST Deposit Form in Box 13 duly completed shall be conclusive evidence in favour of the Company and Share Registrars Limited of: (i) the right of the person(s) named in the CREST Deposit Form to be registered as the holder(s) of the Open Offer Entitlements shown in Box 3 of this Application Form; and (ii) the authority of the person(s) completing Box 10 (if appropriate) or the CREST Deposit Form in Box 13. All documents will be despatched by post at the risk of the person(s) entitled to them.

Box 10

I/We hereby declare that I/we have sold or transferred all or part of my/our holding of Existing Ordinary Shares set out in Box 2 prior to the Record Date.

Signature (1).......................................................

Signature (2).......................................................

Signature (3).......................................................

Signature (4).......................................................

Date ...................................................................

ALL JOINT HOLDERS MUST SIGN.

If you have sold only part of your holding, please state the number of existing shares sold.

...............................................................................

Box 12

Name and address of person or agent lodging this Application Form (if other than the person(s) named in Box 1 on page 1) and/or to whom the definitive share certificate/returned cheque (if any) should be sent. Please insert your FCA number (if applicable):

........................................................................

........................................................................

........................................................................

FCA Licence number:

........................................................................

Box 14

CONSOLIDATION LISTING FORM

Allotment Form	Number of New
Number	Ordinary Shares

Total number	Total number
of Application	of New Ordinary
Forms	Shares

Allotment number of Principal Application Form

Box 15

Stamp of selling broker or other agent

Box 16

Stamp of buying broker or other agent

PAGE 4

Box 11

NOT FOR USE BY THE PERSON(S) NAMED IN BOX 1

IF ANY OF THE EXISTING ORDINARY SHARES SET OUT IN BOX 2 HAVE BEEN SOLD OR TRANSFERRED PRIOR TO 6.00 P.M. ON 11 OCTOBER 2022 THIS BOX SHOULD BE COMPLETED BY THE PURCHASER(S) OR TRANSFEREE(S) OF SUCH EXISTING ORDINARY SHARES. FOLLOWING SUCH COMPLETION IT WILL CONSTITUTE AN APPLICATION ON THE TERMS SET OUT HEREIN AND IN THE CIRCULAR. I/WE DECLARE THAT APPLICATION IS MADE BY ME/US AS A RESULT OF A BONA FIDE MARKET CLAIM AND I/WE HEREBY (A) APPLY FOR THE NUMBER OF OPEN OFFER SHARES INSERTED (OR DEEMED TO BE INSERTED) IN BOX 7 ON THE TERMS AND CONDITIONS SET OUT IN THIS APPLICATION FORM AND IN THE CIRCULAR (INCLUDING THE UNDERTAKINGS, REPRESENTATIONS AND WARRANTIES SET OUT IN THIS APPLICATION FORM AND IN THE CIRCULAR) AND SUBJECT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF THE COMPANY AND (B) AUTHORISE SHARE REGISTRARS LIMITED TO PLACE MY/OUR NAME(S) ON THE SHARE REGISTER OF THE COMPANY IN RESPECT OF SUCH NUMBER OF OPEN OFFER SHARES.

1. Forename(s) (in full) ...........................................................................................................................................................

(State Mr, Mrs, Miss or Title)
Surname ..........................................................................................................................................................................
Address............................................................................................................................................................................
....................................................................................................................	Postcode .....................................................
Signature .....................................................................................................	Date.............................................................
2. Forename(s) (in full) ...........................................................................................................................................................
(State Mr, Mrs, Miss or Title)
Surname ..........................................................................................................................................................................
Address............................................................................................................................................................................
....................................................................................................................	Postcode .....................................................
Signature .....................................................................................................	Date.............................................................
3. Forename(s) (in full) ...........................................................................................................................................................
(State Mr, Mrs, Miss or Title)
Surname ..........................................................................................................................................................................
Address............................................................................................................................................................................
....................................................................................................................	Postcode .....................................................
Signature .....................................................................................................	Date.............................................................
4. Forename(s) (in full) ...........................................................................................................................................................
(State Mr, Mrs, Miss or Title)
Surname ..........................................................................................................................................................................
Address............................................................................................................................................................................
....................................................................................................................	Postcode .....................................................
Signature .....................................................................................................	Date.............................................................

Box 13

CREST DEPOSIT FORM

Before completing this form, please refer to the notes on page 3 of this Application Form. This form should only be completed by either: (i) the person(s) named in Box 1 (where such person(s) is/are a CREST member) if he or she wishes to convert the Open Offer Entitlements shown in Box 3 of this Application Form into uncertificated form (that is, to deposit them in CREST); or (ii) the person (or persons jointly) entitled to the Open Offer Entitlements by virtue of a bona fide market claim and who (being a CREST member) wish(es) to hold the Open Offer Entitlements shown in Box 3 of this Application Form in uncertificated form and in such case Box 10 above must have been duly completed or have been marked "Declaration of Sale duly made". Do not complete Box 11 if you are completing the CREST Deposit Form.

(a) Counter Location Stamp	(b) SDRN Bar Code or Reference

Full name(s) of the person(s) who wish(es) to convert Open Offer Entitlements to uncertificated form.

(c) Participant ID	(d) Member Account ID	(e) Stamp of depositing CREST participant(s) ID

To the Directors of the Company

I/We (being the person(s) lodging this form) request you to enter on the relevant register of securities that the Open Offer Entitlements shown in Box 3 of this Application Form are held in uncertificated form by the CREST member specified above as a result of conversion of such Open Offer Entitlements into uncertificated form.

Notes for completion of this form:

1. The Counter Location Stamp identifies the CCSS Counter where this letter has been processed and is supplied by the Counter.
2. The Stock Deposit Reference Number (SDRN) should be written or bar-coded in this space.
3. No address is required as the CREST member will be identifiable by its participant ID.
4. Insert the participant ID of the CREST member to whom this letter has been transferred and the member account ID under which the Open Offer Entitlements will be held in CREST.
5. This should contain the Broker ID of the depositing CREST participant. The depositing CREST participant by delivering this letter to Euroclear UK & Ireland authorises Euroclear UK & Ireland to deliver this letter to the Company and agrees to be deemed for all purposes to be the person(s) actually so delivering this letter. Euroclear UK & Ireland is delivering this letter at the discretion and on behalf of the depositing CREST participant whose stamp appears herein and does not in any manner or to any extent warrant or represent the validity, genuineness or correctness of the instructions contained herein or the genuineness of the signature(s) of the transferor(s).

Perivan 264460