Acquisition, Issue of Equity & Total Voting Rights

20 December 2021

Helios Underwriting plc

("Helios" or the "Company")

Acquisition of Limited Liability Vehicle

Issue of Equity

and

Total Voting Rights

Helios is pleased to announce that, in line with its strategy of increasing underwriting capacity through acquisition, it has acquired the entire issued capital of Exalt Underwriting Limited for a total consideration of £409,550, of which £241,792 has been satisfied by the issue of 141,399 Ordinary Shares of £0.10 each in the Company ("New Ordinary Shares") at £1.71 per share with the remainder satisfied in cash.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Admission is expected to occur at 8.00 a.m. on 23 December 2021 ("Admission").

Total Voting Rights

The New Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares ("Ordinary Shares"). The Company's issued share capital following Admission will comprise 68,886,212 Ordinary Shares with voting rights and no restrictions on transfer (excluding the 419,169 Ordinary Shares held in treasury and which do not carry voting rights) and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) NO 596/2014.

For further information, please contact:

Helios Underwriting plc

Nigel Hanbury - Chief Executive +44 (0)7787 530 404 / nigel.hanbury@huwplc.com

Arthur Manners - Chief Financial Officer +44 (0)7754 965 917

Shore Capital (Nomad and Broker)

Robert Finlay +44 (0)20 7601 6100

David Coaten

Willis Re Securities (Financial Adviser)

Alastair Rodger +44 (0)20 3124 6033

Buchanan (PR)

Helen Tarbet / Henry Wilson / George Beale +44 (0)7872 604 453

+44 (0)20 7466 5111

 About Helios

Helios provides a limited liability direct investment into the Lloyd's insurance market and is quoted on the London Stock Exchange's AIM market (ticker: HUW). Helios trades within the Lloyd's insurance market writing approximately £137m of capacity for the 2021 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com.