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The Vanguard Group's Position on Dowlais Group plc

The Vanguard Group, Inc. has disclosed its position in Dowlais Group plc as required by Rule 8.3 of the Takeover Code. This disclosure indicates that Vanguard owns 73,570,294 ordinary shares, representing 5.47% of Dowlais Group's relevant securities. The disclosure is dated 30 May 2025 and includes information on dealings and positions.

In recent transactions, Vanguard purchased a total of 99,993 shares of Dowlais at prices of 0.66 GBP and 0.67 GBP per share. The disclosure also covers Vanguard's engagement with American Axle & Manufacturing Holdings, Inc. alongside Dowlais.

The document confirms there are no indemnity or other dealing arrangements, agreements, or understandings related to voting rights or future acquisitions. A Supplemental Form 8 for open positions is not attached. The disclosure is made for regulatory compliance as per the UK Takeover Code.

R. H.

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