Proposed Acquisition of Janus Henderson Group plc by Trian Fund Management and General Catalyst

Trian Fund Management, L.P., along with General Catalyst Group Management, LLC, has submitted a non-binding proposal to acquire all outstanding ordinary shares of Janus Henderson Group plc not currently owned by Trian for $46.00 per share in cash. This proposal represents a significant premium to the closing price of the shares as of October 24, 2025, and a 56% premium to the price of the shares in April 2025. The proposed transaction would be financed through a combination of equity and debt financing from third parties, including limited partners of Trian and General Catalyst, and would not be subject to a financing condition. Trian and General Catalyst believe that the transaction would allow shareholders to crystallize the results of Janus Henderson's operational turnaround at an opportune time when U.S. equity indices are at near record levels. The proposal is subject to negotiation and execution of mutually acceptable definitive documentation.