Pearson Regulatory News (PSON)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

FOR IMMEDIATE RELEASE

30 March 2022

Statement regarding Pearson plc ("Pearson")

Further to the announcements made by Apollo Global Management, Inc. and its subsidiaries ("Apollo"), on behalf of certain of its affiliated funds, and Pearson on 11 March 2022, Apollo notes that it has been unable to reach agreement with the board of Pearson as to the terms of an offer for the entire issued and to be issued share capital of Pearson.

Accordingly, Apollo confirms that it does not intend to make an offer for Pearson. This is a statement to which Rule 2.8 of the Code applies.

For the purposes of Rule 2.8 of the Code, Apollo, on behalf of its affiliated funds, and any person acting in concert with it, reserves the right to announce or participate in an offer or possible offer for Pearson and/or to take any other action which would otherwise be restricted under Rule 2.8 of the Code within the 6 months after the date of this announcement in the following circumstances:

a) with the agreement of the Board of Pearson;

b) following the announcement by or on behalf of a third party of a firm intention to make an offer for Pearson;

c) following the announcement by Pearson of a proposal for a "whitewash" (as referred to in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or for a reverse takeover (as defined in the Code); or

d) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers).

Enquiries: 

For investor enquiries regarding Apollo, please contact:

Noah Gunn, Global Head of Investor Relations +1 212 822 0540

For media enquiries regarding Apollo, please contact:

Joanna Rose, Global Head of Corporate Communications +1 212 822 0491

Publication on website

A copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on Apollo's website at www.apollo.com by no later than 12 noon (London time) on the business day following the date of this announcement. For the avoidance of doubt, the content of this website are not incorporated into, and do not form part of, this announcement.

About Apollo

Apollo is a global, high-growth alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2021, Apollo had approximately $498 billion of assets under management. To learn more, please visit www. apollo.com.