<div id="readability-page-1"><div>RNS Number : 4272W Citadel Group 22 August 2025 FORM 8.3PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BYA PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the &#34;Code&#34;)1. KEY INFORMATION<div><table><tbody><tr><td>(a) Full name of discloser:</td><td>Citadel Group</td></tr><tr><td>(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.</td><td>N/A</td></tr><tr><td>(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree</td><td>DOWLAIS GROUP PLC</td></tr><tr><td>(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:</td><td>N/A</td></tr><tr><td>(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure</td><td>21 August 2025</td></tr><tr><td>(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state &#34;N/A&#34;</td><td>YESAMERICAN AXLE MANUFACTURING HOLDINGS INC</td></tr></tbody></table></div>2. POSITIONS OF THE PERSON MAKING THE DISCLOSUREIf there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)<div><table><tbody><tr><td>Class of relevant security:Common Stock</td><td colspan="4">ISIN GB00BMWRZ0711p ordinary</td></tr><tr><td></td><td colspan="2">Interests</td><td colspan="2">Short positions</td></tr><tr><td></td><td>Number</td><td>%</td><td>Number</td><td>%</td></tr><tr><td>(1) Relevant securities owned and/or controlled:</td><td>63,818</td><td>0.00</td><td>72,545</td><td>0.00</td></tr><tr><td>(2) Cash-settled derivatives:</td><td>248,597</td><td>0.01</td><td>1,009,098</td><td>0.07</td></tr><tr><td>(3) Stock-settled derivatives (including options) and agreements to purchase/sell:</td><td>0</td><td>0.00</td><td>0</td><td>0.00</td></tr><tr><td> TOTAL:</td><td>312,415</td><td>0.02</td><td>1,081,643</td><td>0.08</td></tr></tbody></table></div>All interests and all short positions should be disclosed.Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).(b) Rights to subscribe for new securities (including directors' and other employee options)<div><table><tbody><tr><td>Class of relevant security in relation to which subscription right exists:</td><td>N/A</td></tr><tr><td>Details, including nature of the rights concerned and relevant percentages:</td><td>N/A</td></tr></tbody></table></div>3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSUREWhere there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.The currency of all prices and other monetary amounts should be stated.(a) Purchases and sales<div><table><tbody><tr><td>Class of relevant security</td><td>Purchase/sale</td><td>Number of securities</td><td>Price per unit</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>1,283</td><td>0.7570 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>2</td><td>0.7580 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>30,000</td><td>0.7590 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>4,008</td><td>0.7595 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>495</td><td>0.7600 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>470</td><td>0.7605 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>8,036</td><td>0.7610 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>49,000</td><td>0.7615 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>1,737</td><td>0.7620 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>8,178</td><td>0.7635 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>5,823</td><td>0.7640 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>357</td><td>0.7645 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>23,774</td><td>0.7650 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>3,096</td><td>0.7652 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>5,946</td><td>0.7655 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>7,892</td><td>0.7658 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>6,597</td><td>0.7660 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>82,468</td><td>0.7670 GBP</td></tr><tr><td>Common</td><td>Buy Transaction</td><td>62,408</td><td>0.7675 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>1,135</td><td>0.7580 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>8,863</td><td>0.7585 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>3,000</td><td>0.7588 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>2,517</td><td>0.7590 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>1,000</td><td>0.7592 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>3,291</td><td>0.7595 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>1,139</td><td>0.7600 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>1,827</td><td>0.7605 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>5,515</td><td>0.7610 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>7,506</td><td>0.7615 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>15,314</td><td>0.7620 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>12,224</td><td>0.7625 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>112,293</td><td>0.7650 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>6,742</td><td>0.7655 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>38,902</td><td>0.7660 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>32,599</td><td>0.7665 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>574</td><td>0.7668 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>56,516</td><td>0.7670 GBP</td></tr><tr><td>Common</td><td>Sell Transaction</td><td>720</td><td>0.7675 GBP</td></tr></tbody></table></div>(b) Cash-settled derivative transactions<div><table><tbody><tr><td>Class of relevant security</td><td>Product descriptione.g. CFD</td><td>Nature of dealinge.g. opening/closing a long/short position, increasing/reducing a long/short position</td><td>Number of reference securities</td><td>Price per unit</td></tr><tr><td>Common</td><td>CFD</td><td>Reducing short position</td><td>17,998</td><td>0.7664 GBP</td></tr><tr><td>Common</td><td>CFD</td><td>Reducing short position</td><td>8,319</td><td>0.7664 GBP</td></tr><tr><td>Common</td><td>CFD</td><td>Reducing short position</td><td>37,669</td><td>0.7670 GBP</td></tr><tr><td>Common</td><td>CFD</td><td>Reducing short position</td><td>2,162</td><td>0.7670 GBP</td></tr><tr><td>Common</td><td>CFD</td><td>Increasing short position</td><td>1,959</td><td>0.7670 GBP</td></tr></tbody></table></div>(c) Stock-settled derivative transactions (including options)(i) Writing, selling, purchasing or varying<ul><li>Class of relevant security</li><li>Product description e.g. call option</li><li>Writing, purchasing, selling, varying etc.</li><li>Number of securities to which option relates</li><li>Exercise price per unit</li><li>Typee.g. American, European etc.</li><li>Expiry date</li><li>Option money paid/ received per unit</li></ul>(ii) Exercise<ul><li>Class of relevant security</li><li>Product descriptione.g. call option</li><li>Exercising/ exercised against</li><li>Number of securities</li><li>Exercise price per unit</li></ul>(d) Other dealings (including subscribing for new securities)<ul><li>Class of relevant security</li><li>Nature of dealinge.g. subscription, conversion</li><li>Details</li><li>Price per unit (if applicable)</li></ul>4. OTHER INFORMATION(a) Indemnity and other dealing arrangements<ul><li>Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state &#34;none&#34;</li><li>None</li></ul>(b) Agreements, arrangements or understandings relating to options or derivatives<ul><li>Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state &#34;none&#34;</li><li>None</li></ul>(c) Attachments<ul><li>Is a Supplemental Form 8 (Open Positions) attached?</li><li>NO</li></ul><div><table><tbody><tr><td>Date of disclosure:</td><td>22 August 2025</td></tr><tr><td>Contact name:</td><td>Paula Santos</td></tr><tr><td>Telephone number*:</td><td>020 7645 9700</td></tr></tbody></table></div>Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0) 20 7638 0129.*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END RETUUVBRVNUWURR</div></div>

Citadel Group disclosed its position regarding Dowlais Group PLC in accordance with Rule 8.3 of the Takeover Code. As of August 21, 2025, Citadel holds interests in Dowlais Group PLC, including 63,818 shares and cash-settled derivatives totaling 248,597. The disclosure also includes dealings in American Axle Manufacturing Holdings Inc. Citadel executed multiple transactions, both purchases and sales, of common stock at various prices. The total interests and short positions are detailed, with a significant number of shares involved in the transactions.

REG - Citadel Group American Axle & Mfg. Dowlais Group PLC - Form 8.3 - Dowlais Group Plc