Britvic plc (LSE:BVIC) ("Britvic" or the "Company") noted the recent press speculation and confirmed that on 11 June 2024 it received an unsolicited proposal from Carlsberg A/S (CPSE:CARL B) (Carlsberg Group) ("Carlsberg") regarding a possible cash offer to acquire the entire issued and to be issued ordinary share capital of Britvic (the "Second Proposal") at an offer price of 1,250 pence per Britvic share. The Second Proposal follows a previously rejected proposal from Carlsberg (the "First Proposal") received on 06 June 2024 at an offer price of 1,200 pence per Britvic share. The Board together with its advisers carefully considered the Second Proposal, and concluded that it significantly undervalues Britvic, and its current and future prospects.

Accordingly, the Board unanimously rejected the Second Proposal on 17 June 2024. The Board remains confident in the current and future prospects of Britvic. It recognises its fiduciary duties and will consider any further proposal on its merits.

There can be no certainty that any firm offer will be made for the Company, nor as to the terms of any such offer, should one be made. Any offer for Britvic is governed by the Code. Under Rule 2.6(a) of the Code,Carlsberg must, by not later than 5.00 p.m. on 19 July 2024, either announce a firm intention to make an offer for Britvic in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.

This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. The person responsible for arranging the release of this announcement on behalf of Britvic is Mollie Stoker.