Update on Share Buyback Programme

13 July 2026

 HELIOS UNDERWRITING PLC

 ("Helios ", or the "Company")

 Update on Share Buyback Programme

Helios Underwriting plc, the only publicly traded company offering access to a diverse portfolio of syndicates at Lloyd's of London, the world's largest insurance market, announces an amendment to its share buyback programme in the Company's ordinary shares of 10 pence each ("Ordinary Shares"), launched with Peel Hunt LLP ("Peel Hunt") on 9 April 2026 to return up to a maximum aggregate consideration of £2,000,000 to shareholders (the "Amended Share Buyback Programme").

The Company has to date relied upon the safe harbour conditions for trading set out in Article 5 of the Market Abuse Regulation (596/2014), as it forms part of assimilated law in the UK by virtue of the European Union (Withdrawal) Act 2018 and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019, and in the Commission Delegated Regulation (EU) 2016/1052, as it forms part of assimilated law in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019 (together, "MAR"). However, due to the illiquidity of the Company's Ordinary Shares, the safe harbour volume parameter has constrained its ability to purchase Ordinary Shares within an efficient and practicable timeframe and the Company has now decided to amend its agreement with Peel Hunt and conduct the Amended Share Buyback Programme on the following basis:

• Peel Hunt will continue to manage the purchases on a discretionary basis, purchasing Ordinary Shares within certain pre-set parameters and making its trading decisions independently of, and uninfluenced by, the Company. Purchases may therefore continue during any closed periods of the Company.

• The Amended Share Buyback Programme will be executed in accordance with the authority to repurchase Ordinary Shares granted by the Company's shareholders at the annual general meeting ("AGM") held on 22 June 2026, being authority to repurchase up to a maximum of 6,942,081 Ordinary Shares (the "General Authority").

• In accordance with the General Authority, the maximum price to be paid per Ordinary Share acquired by the Company pursuant to the Amended Share Buyback Programme will be no more than the higher of (i) 105% of the average middle market closing price of an Ordinary Share on AIM for the five business days preceding the date of purchase and (ii) the higher of the price of the last independent trade and the highest current independent purchase bid for an Ordinary Share on the trading venue where the purchase is carried out; and in any event no more than the net asset value per share of the Company.

• The purchased Ordinary Shares will be held by the Company in treasury at the Company's discretion for later reissue or cancellation. Shares held in treasury are not entitled to dividends and have no voting rights at the Company's general meetings.

• The Amended Share Buyback Programme will continue from the date of this announcement until the earlier of (i) the maximum aggregate consideration of £2,000,000 having been reached and (ii) the expiration of the General Authority or, if earlier, the conclusion of the Company's next AGM.

• Shareholders should be aware that the Amended Share Buyback Programme may on any given trading day represent a significant portion of the daily traded volume in the Company's Ordinary Shares on AIM, and the Company expects daily volumes to exceed 25% of the average daily traded volume in the Ordinary Shares over the 20 trading days preceding a purchase. Accordingly, the Company may not benefit from the exemption contained in Article 5(1) of MAR.

• Outside of the above, the Amended Share Buyback Programme will be conducted in accordance with the other safe harbour parameters as prescribed by MAR insofar as possible.

• As at 10 July 2026, the Company's total issued share capital consisted of 76,040,011 Ordinary Shares, each carrying one voting right, and the Company held 5,945,159 Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 70,094,852, which figure may be used by shareholders as the denominator for the calculations by which they will determine whether 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.

• The Company confirms that it currently has no unpublished inside information.

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   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. The portfolio provides a broad spread of business primarily participating in the US and other international wholesale and reinsurance markets. For further information please visit www.huwplc.com.