FORM 38.5(b)
IRISH TAKEOVER PANEL
DISCLOSURE UNDER RULE 38.5(b) OF THE IRISH TAKEOVER PANEL ACT, 1997,
TAKEOVER RULES, 2013
DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITHOUT
RECOGNISED INTERMEDIARY STATUS, OR WITH RECOGNIZED INTERMEDIARY
STATUS BUT NOT DEALING IN A CLIENT-SERVING CAPACITY
| 1. | KEY INFORMATION |
| Bank of America, N.A., Proprietary | |
| Willis Towers Watson PLC | |
| Common - IE00BDB6Q211 | |
| 21/01/2021 |
| 2. | INTERESTS AND SHORT POSITIONS |
| (a) | Interests and short positions (following dealing) in the class of relevant security |
| Class of relevant security: Common | IE00BDB6Q211 | |||||
| | Long | Short | ||||
| Number | % | Number | % | |||
| 105,977 | 0.082% | 48,664 | 0.038% | ||
| 98,634 | 0.077% | 69,114 | 0.054% | ||
| 0 | 0% | 0 | 0% | ||
| Total | 204,611 | 0.159% | 117,778 | 0.091% | ||
| (b) | Interests and short positions in relevant securities of the company, other than the |
| Class of relevant security: | | |||||
| | Long | Short | ||||
| Number | % | Number | % | |||
| 0 | 0% | 0 | 0% | ||
| 0 | 0% | 0 | 0% | ||
| 0 | 0% | 0 | 0% | ||
| Total | 0 | 0% | 0 | 0% | ||
| 3. | DEALINGS (Note 3) |
| (a) | Purchases and sales |
| Purchase/sale | Number of relevant securities | Price per unit (Note 4) |
| Purchase | 1,202 | 208.57 USD |
| Purchase/sale | Number of relevant securities | Price per unit (Note 4) |
| Sale | 6 | 208.57 USD |
| Sale | 1 | 209.24 USD |
| Sale | 1 | 209.4 USD |
| Sale | 1 | 209.47 USD |
| Sale | 1 | 209.54 USD |
| Sale | 1 | 210.21 USD |
| Sale | 1 | 210.39 USD |
| Sale | 1 | 210.46 USD |
| Sale | 106 | 210.97 USD |
| Sale | 100 | 211.01 USD |
| Sale | 1 | 211.42 USD |
| Sale | 1 | 211.43 USD |
| Sale | 1 | 211.52 USD |
| Sale | 100 | 211.605 USD |
| Sale | 100 | 211.62 USD |
| Sale | 6 | 211.63 USD |
| Sale | 100 | 211.64 USD |
| Sale | 6 | 211.66 USD |
| Sale | 100 | 211.7 USD |
| Sale | 2 | 211.89 USD |
| Sale | 1 | 211.95 USD |
| Sale | 1 | 212.07 USD |
| Sale | 1 | 212.31 USD |
| (b) | Derivatives transactions (other than options transactions) |
| Product name, | Nature of transaction | Number of relevant securities | Price per unit |
| Swaps | Reducing a long position | 7630 | 208.57 USD |
| (c) | Options transactions in respect of existing relevant securities |
| (i) | Writing, selling, purchasing or varying |
| Product name, e.g. call option | Writing, selling, purchasing, varying etc. | Number of securities to which the option relates (Note 7) | Exercise price | Type, e.g. American, European etc | Expiry date | Option money paid/ received per unit (Note 4) |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (ii) | Exercising |
| Product name, | Number of securities | Exercise price per |
| N/A | N/A | N/A |
| (d) | Other dealings (including transactions in respect of new securities) (Note 3) |
| Nature or transaction | Details | Price per unit |
| N/A | N/A | N/A |
| 4. | OTHER INFORMATION |
Agreements, arrangements or understandings relating to options or derivatives
| Full details of any agreement, arrangement or understanding between the person |
| None |
| Is a Supplemental Form 38.5(b) attached? (Note 8) | No |
| Date of disclosure | 22/01/2021 |
| Contact name | Tolu Tade |
| Telephone number | +44207 996 3410 |
| Name of offeree/offeror with which connected | Willis Towers Watson PLC |
| Nature of connection (Note 9) | Advisor to - Willis Towers Watson PLC |
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