INGR · Ingredion Incorporated

Ingredion Incorporated has disclosed a non-binding indicative all-cash offer for Tate & Lyle PLC at 595 pence per share, representing a potential acquisition of the entire issued share capital. The offer is preliminary and subject to due diligence and ongoing discussions; there is no certainty that a binding offer will be made. Under the UK Takeover Code, Ingredion must either announce a firm intention to make an offer or announce it will not by 5:00 pm London time on June 11, 2026 (the PUSU deadline), which may be extended with the Takeover Panel's consent. The offer permits Tate & Lyle to pay two ordinary dividends: a final dividend for the year ended March 31, 2026 of up to 13 pence per share and an interim dividend for the six months to September 30, 2026 of up to 7 pence per share. Ingredion reserves the right to adjust terms under certain conditions, including a third-party offer or a change in Tate & Lyle's capital structure. J.P. Morgan is acting as sole financial adviser. This announcement is made under Rule 2.4 of the Code and does not constitute a firm intention to make an offer. The strategic rationale cited by Ingredion is delivering significant benefits to customers, consumers, employees, and shareholders. Investors should monitor further announcements regarding the outcome of due diligence and the PUSU deadline.