<div id="readability-page-1" class="page"><div>RNS Number : 6501E Avation PLC 23 October 2025 TR-1: Standard form for notification of major holdings<div><table><tbody><tr><td colspan="7">NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i</td></tr><tr><td colspan="7"></td></tr><tr><td colspan="3">1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii:</td><td colspan="4">Avation PLC</td></tr><tr><td colspan="7">1b. Please indicate if the issuer is a non-UK issuer (please mark with an &#34;X&#34; if appropriate)</td></tr><tr><td colspan="6">Non-UK issuer</td><td></td></tr><tr><td colspan="7">2. Reason for the notification (please mark the appropriate box or boxes with an &#34;X&#34;)</td></tr><tr><td colspan="6">An acquisition or disposal of voting rights</td><td>X</td></tr><tr><td colspan="6">An acquisition or disposal of financial instruments</td><td></td></tr><tr><td colspan="6">An event changing the breakdown of voting rights</td><td></td></tr><tr><td colspan="6">Other (please specify) iii:</td><td></td></tr><tr><td colspan="7">3. Details of person subject to the notification obligation iv</td></tr><tr><td colspan="3">Name</td><td colspan="4">1. Rangeley Capital LLC2. Christopher C. DeMuth Jr.(together, &#34;Rangeley&#34;)acting in concert with3. Jeremy Michael Kersten Raper</td></tr><tr><td colspan="3">City and country of registered office (if applicable)</td><td colspan="4">New Canaan, United States of America</td></tr><tr><td colspan="7">4. Full name of shareholder(s) (if different from 3.) v</td></tr><tr><td colspan="3">Name</td><td colspan="4">Jefferies LLC (in respect of Rangeley)</td></tr><tr><td colspan="3">City and country of registered office (if applicable)</td><td colspan="4">New York, United States of America</td></tr><tr><td colspan="3">5. Date on which the threshold was crossed or reached vi:</td><td colspan="4">21 Oct 2025</td></tr><tr><td colspan="3">6. Date on which issuer notified (DD/MM/YYYY):</td><td colspan="4">23 Oct 2025</td></tr><tr><td colspan="7">7. Total positions of person(s) subject to the notification obligation</td></tr><tr><td></td><td>% of voting rights attached to shares (total of 8. A)</td><td colspan="2">% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)</td><td>Total of both in % (8.A + 8.B)</td><td colspan="2">Total number of voting rights held in issuer (8.A + 8.B) vii</td></tr><tr><td>Resulting situation on the date on which threshold was crossed or reached</td><td>5.96%</td><td colspan="2">N/A</td><td>5.96%%</td><td colspan="2">3,870,756</td></tr><tr><td>Position of previous notification (ifapplicable)</td><td>7.50%</td><td colspan="2">N/A</td><td>7.50%</td><td colspan="2"></td></tr></tbody></table></div><div><table><tbody><tr><td colspan="10">8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii</td></tr><tr><td colspan="10">A: Voting rights attached to shares</td></tr><tr><td colspan="2" rowspan="2">Class/type ofsharesISIN code (if possible)</td><td colspan="5">Number of voting rights ix</td><td colspan="3">% of voting rights</td></tr><tr><td colspan="2">Direct(DTR5.1)</td><td colspan="3">Indirect (DTR5.2.1)</td><td colspan="2">Direct(DTR5.1)</td><td>Indirect(DTR5.2.1)</td></tr><tr><td colspan="2">GB00B196F554</td><td colspan="2">3,870,756</td><td colspan="3">N/A</td><td colspan="2">5.96%</td><td>N/A</td></tr><tr><td colspan="2"></td><td colspan="2"></td><td colspan="3"></td><td colspan="2"></td><td></td></tr><tr><td colspan="2"></td><td colspan="2"></td><td colspan="3"></td><td colspan="2"></td><td></td></tr><tr><td colspan="2">SUBTOTAL 8. A</td><td colspan="5">3,870,756</td><td colspan="3">5.96%</td></tr><tr><td colspan="10"></td></tr><tr><td colspan="10">B 1: Financial Instruments according to DTR5.3.1R (1) (a)</td></tr><tr><td colspan="2">Type of financial instrument</td><td>Expirationdate x</td><td colspan="3">Exercise/Conversion Period xi</td><td colspan="3">Number of voting rights that may be acquired if the instrument isexercised/converted.</td><td>% of voting rights</td></tr><tr><td colspan="2"></td><td></td><td colspan="3"></td><td colspan="3"></td><td></td></tr><tr><td colspan="2"></td><td></td><td colspan="3"></td><td colspan="3"></td><td></td></tr><tr><td colspan="2"></td><td></td><td colspan="3"></td><td colspan="3"></td><td></td></tr><tr><td colspan="2"></td><td></td><td colspan="3">SUBTOTAL 8. B 1</td><td colspan="3"></td><td></td></tr><tr><td colspan="10"></td></tr><tr><td colspan="10">B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)</td></tr><tr><td>Type of financial instrument</td><td colspan="2">Expirationdate x</td><td colspan="2">Exercise/Conversion Period xi</td><td colspan="3">Physical or cashSettlement xii</td><td>Number of voting rights</td><td>% of voting rights</td></tr><tr><td></td><td colspan="2"></td><td colspan="2"></td><td colspan="3"></td><td></td><td></td></tr><tr><td></td><td colspan="2"></td><td colspan="2"></td><td colspan="3"></td><td></td><td></td></tr><tr><td></td><td colspan="2"></td><td colspan="2"></td><td colspan="3"></td><td></td><td></td></tr><tr><td></td><td colspan="2"></td><td colspan="2"></td><td colspan="3">SUBTOTAL 8.B.2</td><td></td><td></td></tr><tr><td colspan="10"></td></tr></tbody></table></div><div><table><tbody><tr><td colspan="5">9. Information in relation to the person subject to the notification obligation (please mark theapplicable box with an &#34;X&#34;)</td></tr><tr><td colspan="4">Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii</td><td></td></tr><tr><td colspan="4">Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) xiv</td><td>X</td></tr><tr><td>Name xv</td><td>% of voting rights if it equals or is higher than the notifiable threshold</td><td>% of voting rights through financial instruments if it equals or is higher than the notifiable threshold</td><td colspan="2">Total of both if it equals or is higher than the notifiable threshold</td></tr><tr><td>Chain 1</td><td></td><td></td><td colspan="2"></td></tr><tr><td>Christopher C. DeMuth Jr.</td><td>5.75%</td><td>N/A</td><td colspan="2">5.75%</td></tr><tr><td>Rangeley Capital LLC</td><td>5.75%</td><td>N/A</td><td colspan="2">5.75%</td></tr><tr><td></td><td></td><td></td><td colspan="2"></td></tr><tr><td>Chain 2</td><td></td><td></td><td colspan="2"></td></tr><tr><td>Jeremy Michael Kersten Raper</td><td>0.21%</td><td>N/A</td><td colspan="2">0.21%</td></tr><tr><td colspan="5"></td></tr><tr><td colspan="5">10. In case of proxy voting, please identify:</td></tr><tr><td colspan="2">Name of the proxy holder</td><td colspan="3"></td></tr><tr><td colspan="2">The number and % of voting rights held</td><td colspan="3"></td></tr><tr><td colspan="2">The date until which the voting rights will be held</td><td colspan="3"></td></tr><tr><td colspan="5"></td></tr><tr><td colspan="5">11. Additional information xvi</td></tr><tr><td colspan="5">Rangeley Capital LLC and Jeremy Michael Kersten Raper have a common policy towards the management of the issuer in relation to their respective holdings in the issuer and are therefore to be treated as acting in concert pursuant to DTR 5.2.1(a). As such, the disclosure in sections 7 and 8 of this form reflects their aggregated position.</td></tr></tbody></table></div><div><table><tbody><tr><td>Place of completion</td><td>United States of America</td></tr><tr><td>Date of completion</td><td>23 Oct 2025</td></tr></tbody></table></div>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. 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AVAP

Avation PLC announced a major holding notification on October 23, 2025, indicating that Rangeley Capital LLC and Jeremy Michael Kersten Raper have acquired 5.96% of the voting rights, totaling 3,870,756 shares. This marks a decrease from their previous holding of 7.50%. The notification was made following the threshold crossing on October 21, 2025. The parties involved are acting in concert regarding their management policy towards the issuer.

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