DISCLAIMER

CASH OFFER (“OFFER”) OF JIGSAW INSURANCE SERVICES LTD (“JIGSAW”) BY PIB GROUP LIMITED (“PIB”).

ACCESS TO THIS AREA OF THE WEBSITE (“MICROSITE”) MAY BE RESTRICTED UNDER SECURITIES LAWS OR REGULATIONS IN CERTAIN JURISDICTIONS. THIS NOTICE REQUIRES YOU TO CONFIRM CERTAIN MATTERS (INCLUDING THAT YOU ARE NOT RESIDENT IN SUCH A JURISDICTION), BEFORE YOU MAY OBTAIN ACCESS TO THE INFORMATION ON THIS MICROSITE. THESE MATERIALS (OR ANY PART OF THESE MATERIALS) ARE NOT DIRECTED AT OR INTENDED TO BE ACCESSIBLE BY PERSONS RESIDENT IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION OR WOULD RESULT IN A REQUIREMENT TO OBTAIN A CONSENT, FILING OR COMPLY WITH ANY OTHER FORMALITY WHICH JIGSAW REGARDS AS UNDULY ONEROUS (A “RESTRICTED JURISDICTION”).

THIS MICROSITE CONTAINS CERTAIN ANNOUNCEMENTS, DOCUMENTS AND INFORMATION (THE “INFORMATION”) PUBLISHED BY JIGSAW AND/OR PIB RELATING TO THE OFFER IN COMPLIANCE WITH THE CITY CODE ON TAKEOVERS AND MERGERS (THE “TAKEOVER CODE”). THE INFORMATION IS BEING MADE AVAILABLE BY JIGSAW IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY, AND ITS AVAILABILITY IS SUBJECT TO THE TERMS AND CONDITIONS SET OUT BELOW.

NO OFFER CAN BE VALIDLY ACCEPTED (OR, IF SUCH OFFER IS TO BE EFFECTED BY WAY OF A SCHEME OF ARRANGEMENT, VOTED IN FAVOUR OF) BY JIGSAW OR ITS SHAREHOLDERS OR ANY OTHER PERSONS BY MEANS OF DOWNLOADING A COPY OF ANY OF THE INFORMATION FROM THIS WEBSITE.

1 ACCESS TO THE OFFER

Please read this notice carefully – it applies to all persons who view the Information contained in this Microsite and, depending upon who you are and where you are located, it may affect your rights or responsibilities. Please note that, as the Offer progresses, the Information on the Microsite as well as the terms of this disclaimer may be altered or updated. You should read the full text of this disclaimer each time you visit the Microsite.

To allow you to view the Information about the Offer, you have to read the following then click “I ACCEPT”. If you are unable to agree, you should click “I DECLINE” and you will not be able to view any Information about the Offer.

The Information contained in this Microsite does not constitute an offer to sell or otherwise dispose of or an invitation or solicitation of any offer to purchase or subscribe for any securities pursuant to the Offer or otherwise.

Jigsaw shareholders should seek advice from an independent financial adviser as to the suitability of any action for the individual concerned in connection with the Offer. Any shareholder action required in connection with the Offer will be set out in documents sent to or made available to Jigsaw’s shareholders and any decision made by such shareholders should be made solely and only on the basis of information provided in those documents.

2 OVERSEAS JURISDICTIONS

This Information is not directed at or intended to be accessible by persons resident in any Restricted Jurisdiction.

Viewing the Information you are seeking to access may be restricted under securities laws in certain jurisdictions. All persons resident outside the United Kingdom who wish to view the Information contained in this Microsite must first satisfy themselves that they are not subject to any local requirements which prohibit or restrict them from doing so and should inform themselves about, and observe, any legal or regulatory requirements applicable in their jurisdiction.

YOU SHOULD NOT DOWNLOAD, MAIL, FORWARD, DISTRIBUTE, SEND OR SHARE THE INFORMATION OR DOCUMENTS CONTAINED ON THIS MICROSITE TO ANY PERSON. IN PARTICULAR YOU SHOULD NOT MAIL, FORWARD, DISTRIBUTE OR SEND THE INFORMATION OR DOCUMENTS CONTAINED ON THIS MICROSITE TO ANY RESTRICTED JURIDICTION.

This Microsite contains Information that has been prepared for the purposes of complying with English law and the Takeover Code and the Information disclosed may not be the same as that which would have been disclosed if this Information had been prepared in accordance with the laws and regulations of any jurisdiction outside of England and Wales.

It is your responsibility to satisfy yourself as to the full observance of any relevant laws and regulatory requirements. If you are not permitted to view the Information on this Microsite, or are in any doubt as to whether you are permitted to view the Information, please exit this Microsite.

3 FORWARD-LOOKING STATEMENTS

This Microsite and the Information contained in it may contain statements about PIB, and Jigsaw that are or may be deemed to be forward looking statements.

All statements other than statements of historical facts may be forward looking statements. In some cases, these forward looking statements can be identified by the use of forward looking terminology, including the terms “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “estimates”, “projects”, “is expected to”, “is subject to”, “budget”, “scheduled”, “forecasts”, “synergy”, “strategy”, “goal”, “cost-saving”, “shall”, “should” or words or terms of similar substance or the negative thereof. Forward looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses and future prospects of, Jigsaw or PIB and certain plans and objectives of PIB with respect to them; (ii) business and management strategies and the expansion and growth of PIB’s or Jigsaw’s operations and potential synergies resulting from the Offer; and (iii) the effects of global economic conditions and government regulation on PIB’s or Jigsaw’s business

These forward-looking statements are not guarantees of future performance and have not been reviewed by auditors of Jigsaw. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. These factors include, but are not limited to, the satisfaction of the conditions to the Offer, as well as additional factors, such as changes in political and economic conditions, changes in the level of capital investment, retention of key employees, changes in customer habits, success of business and operating initiatives and restructuring objectives, impact of any acquisitions or similar transactions, changes in customers’ strategies and stability, competitive product and pricing measures, changes in the regulatory environment, fluctuations of interest and exchange rates, the outcome of any litigation. The factors described in the context of such forward-looking statements in this Microsite could cause PIB’s plans with respect to Jigsaw, Jigsaw’s actual results, performance or achievements, industry results and developments to differ materially from those expressed in or implied by such forward-looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the document within which the statement is contained. All subsequent oral or written forward-looking statements attributable to PIB or Jigsaw or any of their respective members, directors, officers or employees or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. PIB and Jigsaw disclaim any obligation to update any forward-looking or other statements contained in in this Microsite, except to the extent required by applicable law or regulation, including the Takeover Code and the rules made by the Financial Conduct Authority under Part VI of the Financial Services and Markets Act 2000.

4 NO PROFIT FORECAST

Save as otherwise expressly stated in any relevant information, no statement in any document contained in this Microsite is intended as a profit forecast or a profit estimate for any period and no statement in any document contained in this Microsite should be interpreted to mean that the earnings or earnings per share of Jigsaw or any of its affiliates for current or future financial years will necessarily match or exceed the historical published earnings per share for Jigsaw.

5 RESPONSIBILITY

In relation to any offer-related materials accessible on this Microsite please note any statement of responsibility contained therein.

The Information and documents included in this Microsite issued or published by Jigsaw speak only at the specified date of the relevant document or announcement reproduced on this Microsite and Jigsaw, the members of the Jigsaw Group, PIB and the members of the PIB Group have, and accept, no responsibility or duty to update or revise such documents.

In relation to any such announcements or other offer-related materials issued or published by any third party, or which relate to any third party, that are accessible on this Microsite, the only responsibility accepted by Jigsaw and its directors is for the correctness and fairness of its reproduction.

The directors of each of Jigsaw, any member of the Jigsaw Group, PIB and any member of the PIB Group have not reviewed, and no such person is or shall be responsible for or accepts any liability in respect of, any information contained on any other website which may be linked to or from this Microsite.

6 OTHER

IMAS Corporate Finance LLP, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Jigsaw and no one else in connection with the Offer and will not be responsible to anyone other than Jigsaw for providing the protections afforded to clients of IMAS Corporate Finance LLP or for providing advice in relation to the Offer or any other matters referred to in the Information.

If you are in any doubt about the contents of this Microsite or the action you should take, you should seek your own financial advice from an independent financial adviser authorised under the Financial Services and Markets Act 2000 (as amended) or, if you are located outside the UK, from an appropriately authorised independent financial adviser.

This notice shall be governed by and construed in accordance with English law.

7 CONFIRMATION OF UNDERSTANDING AND ACCEPTANCE OF DISCLAIMER.

BY CLICKING ON THE “I ACCEPT” BUTTON BELOW, YOU CERTIFY THAT:

(i) you have read and understood the notice set out above, you understand that it may affect your rights and/or your responsibilities and you agree to be bound by its terms;

(ii) you are not (nor do you act on behalf of someone who is) a US person (as defined in Rule 902 of the US Securities Act of 1933, as amended or resident in any country that renders the accessing of the materials on this Microsite or parts of it illegal;

(iv) you will not forward, transfer or distribute (by any means including by electronic transmission) any of the materials on this Microsite, either in whole or in part to any other person at any time; and

(v) you represent and warrant to Jigsaw that you intend to access this Microsite for information purposes only; and
(v) you have read, understood and agree to the disclaimer above.

If you are not able to give these confirmations, you should click on I DECLINE below.