<SEC-DOCUMENT>0001104659-25-123823.txt : 20251222
<SEC-HEADER>0001104659-25-123823.hdr.sgml : 20251222
<ACCEPTANCE-DATETIME>20251222171421
ACCESSION NUMBER:		0001104659-25-123823
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251222
DATE AS OF CHANGE:		20251222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JANUS HENDERSON GROUP PLC
		CENTRAL INDEX KEY:			0001274173
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				000000000
		STATE OF INCORPORATION:			Y9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38103
		FILM NUMBER:		251593414

	BUSINESS ADDRESS:	
		STREET 1:		201 BISHOPSGATE
		CITY:			LONDON
		STATE:			X0
		ZIP:			EC2M 3AE
		BUSINESS PHONE:		442078181818

	MAIL ADDRESS:	
		STREET 1:		201 BISHOPSGATE
		CITY:			LONDON
		STATE:			X0
		ZIP:			EC2M 3AE

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HENDERSON GROUP PLC
		DATE OF NAME CHANGE:	20050511

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HHG PLC
		DATE OF NAME CHANGE:	20031223
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tm2534023d4_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
</B></FONT>Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proxy Statement
Pursuant to Section&nbsp;14(a)&nbsp;of the</B></FONT><B><BR>
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Filed by the Registrant <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Filed by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
Preliminary Proxy Statement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
<B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
Definitive Proxy Statement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
Definitive Additional Materials</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Wingdings">&#120;&nbsp;</FONT>Soliciting Material Pursuant to&nbsp;&sect;240.14a-12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<IMG SRC="tm2534023d4_defa14aimg01.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>JANUS HENDERSON
GROUP PLC</B></FONT><B><FONT STYLE="font-size: 10pt"><BR>
(Name of Registrant as Specified in its Charter)</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Person(s)&nbsp;Filing Proxy Statement,
if other than the Registrant)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Payment of Filing Fee (Check the appropriate
box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#120;&nbsp;</FONT>No
fee required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
Fee paid previously with preliminary materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Wingdings">&#168;</FONT>
Fee computed on table in exhibit required by Item 25(b)&nbsp;per Exchange Act Rules&nbsp;14a-6(i)(1)&nbsp;and 0-11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Schedule 14A contains the transcript of a
video embedded in an internal memo to employees of Janus Henderson Group plc (&ldquo;Janus Henderson&rdquo;), which was delivered on December&nbsp;22,
2025.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CEO Video Transcript</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Hi, everyone, Hope you&rsquo;re all well. So,&nbsp;I obviously have some
news for you with the agreement for our firm to go private again. I am just thrilled about the future of Janus Henderson in closer partnership
with both Trian and General Catalyst. And since I&rsquo;ve been told a big global town hall would be challenging to successfully pull
off during a holiday week, we thought a video would be a good way to touch base and share my true enthusiasm about this news.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">To start, you should know this transaction is a tribute to all of you&mdash;individually
and collectively. We&rsquo;ve done incredible work together over the past few years living our mission, values, and purpose, and executing
our strategy, all in support of our clients and their clients. And the results&hellip;our results&hellip;, both operationally and financially,
speak for themselves. Market share gains, 6 consecutive quarters of net inflows, record AUM, strong operating margins, big client wins,
Aladdin,&nbsp;etc.,&nbsp;etc.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Now, that&rsquo;s why Trian and General Catalyst are eager to support our
next phase of growth. We&rsquo;ve done well for shareholders as a public company, and are at the stage of needed incremental investments
where we think we can do better as a private company.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Trian brings deep expertise in asset management and has long been one of
our strongest supporters&mdash;many of you have met with Nelson Peltz and other members of the team there over the years. General Catalyst
is a growth-oriented investment firm with experience in technology and AI. You will soon meet Hemant Taneja, the CEO there, and other
members of their industry-leading team. Together, they&rsquo;ll help us invest in products, client services, technology, and talent&mdash;accelerating
our growth and building for the future.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As we move through the approval process over the next several months, it&rsquo;s
important that we stay focused on what we do best&mdash;delivering for our clients, together.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We know you&rsquo;ll have questions as we move forward, and we&rsquo;re committed
to ensuring that employees are kept informed. I assure you we are working on all of the things you might care about.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">I look forward to sharing additional thoughts with you during a Town Hall
we&rsquo;ll host after the holidays, but as I mentioned,&nbsp;I&rsquo;m always more than happy for you to reach out to me with any suggestions,
topics, or questions in advance at CEOideas@janushenderson.com.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the meantime,&nbsp;I hope you finish the last few days of the year strongly,
and then take some well-deserved time with your loved ones over the holidays.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Then&hellip;as you know I&rsquo;d say&hellip;let&rsquo;s hit the ground running
and kick off the new year at a fast pace&hellip;together.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Happy holidays and thank you for all that you do. And I look forward to building
on our momentum in 2026 and beyond.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain statements in this communication not based
on historical facts are &ldquo;forward-looking statements&rdquo; within the meaning of the federal securities laws. Such forward-looking
statements involve known and unknown risks and uncertainties that are difficult to predict and could cause our actual results, performance
or achievements to differ materially from those discussed. These include statements as to our future expectations, beliefs, plans, strategies,
objectives, events, conditions, financial performance, prospects or future events, including with respect to the timing and anticipated
benefits of pending and recently completed transactions and strategic partnerships, and expectations regarding opportunities that align
with our strategy. In some cases, forward-looking statements can be identified by the use of words such as &ldquo;may,&rdquo; &ldquo;could,&rdquo;
&ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;seek,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;predict,&rdquo; &ldquo;potential,&rdquo; &ldquo;continue,&rdquo; &ldquo;likely,&rdquo; &ldquo;will,&rdquo; &ldquo;would,&rdquo;
and similar words and phrases. Forward-looking statements are necessarily based on estimates and assumptions that, while considered reasonable
by us and our management, are inherently uncertain. Accordingly, you should not place undue reliance on forward-looking statements, which
speak only as of the date they are made and are not guarantees of future performance. We do not undertake any obligation to publicly update
or revise these forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Various risks, uncertainties, assumptions and
factors that could cause our future results to differ materially from those expressed by the forward-looking statements included in this
press release include, but are not limited to, Janus Henderson&rsquo;s ability to obtain the regulatory, shareholder and other approvals
required to consummate the proposed transaction and the timing of the closing of the proposed transaction, including the risks that a
condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed transaction would
not occur, the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement,
that shareholder litigation in connection with the proposed transaction may affect the timing or occurrence of the proposed transaction
or result in significant costs of defense, indemnification and liability, unanticipated difficulties or expenditures relating to the proposed
transaction, including the impact of the transaction on Janus Henderson&rsquo;s business, that the proposed transaction generally may
involve unexpected costs, liabilities or delays, that&nbsp;the business of Janus Henderson may suffer as a result of uncertainty surrounding
the proposed transaction or the identity of the purchaser, that&nbsp;Janus Henderson may be adversely affected by other economic, business,
and/or competitive factors, including the net asset value of assets in certain of Janus Henderson&rsquo;s funds, and/or potential difficulties
in employee retention as a result of the announcement and pendency of the proposed transaction, changes in interest rates and inflation,
changes in trade policies (including the imposition of new or increased tariffs), volatility or disruption in financial markets, our investment
performance as compared to third-party benchmarks or competitive products, redemptions, and other risks, uncertainties, assumptions, and
factors discussed in our Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2024, and in other filings or furnishings
made by Janus Henderson with the SEC from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Important Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the proposed transaction,
Janus Henderson Group plc (&ldquo;Janus Henderson&rdquo;) will file with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
a proxy statement, the definitive version of which will be sent or provided to Janus Henderson&rsquo;s shareholders. Janus Henderson
and affiliates of Janus Henderson intend to jointly file a transaction statement on Schedule 13E-3. Janus Henderson may also file other
documents with the SEC regarding the proposed transaction. This communication is not a substitute for the proxy statement, the Schedule
13E-3 or any other document that may be filed by Janus Henderson with the SEC. INVESTORS AND SECURITY HOLDERS OF JANUS HENDERSON ARE
URGED TO READ THE PROXY STATEMENT, THE SCHEDULE 13E-3 AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY,
BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain the proxy statement
and the Schedule 13E-3 (in each case, when available) and other documents that are filed with the SEC by Janus Henderson free of charge
from the SEC&rsquo;s website at https://www.sec.gov or through the investor relations section of Janus Henderson&rsquo;s website at <U>https://ir.janushenderson.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Participants in the Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Janus Henderson and its directors and certain
of its executive officers and other employees may be deemed to be participants in the solicitation of proxies from Janus Henderson&rsquo;s
shareholders in connection with the proposed transaction. Information about the directors and executive officers of Janus Henderson and
their ownership of Janus Henderson common shares is contained in the definitive <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001274173/000130817925000183/jhg013443-def14a.htm" STYLE="-sec-extract: exhibit">proxy statement</A> for Janus Henderson&rsquo;s 2025 annual
meeting of shareholders (the &ldquo;Annual Meeting Proxy Statement&rdquo;), which was filed with the SEC on March&nbsp;21, 2025, including
under the headings &ldquo;Proposal 1: Election of Directors,&rdquo; &ldquo;Corporate Governance,&rdquo; &ldquo;Board Compensation,&rdquo;
&ldquo;Proposal 2: Advisory Say-on-Pay Vote on Executive Compensation,&rdquo; &ldquo;Executive Compensation,&rdquo; &ldquo;Executive
Compensation Tables,&rdquo; &ldquo;Securities Ownership of Certain Beneficial Owners and Management&rdquo; and &ldquo;Our Executive Officers.&rdquo;
Additional information regarding the persons who may, under the rules&nbsp;of the SEC, be deemed participants in the solicitation of
the shareholders of Janus Henderson in connection with the proposed transaction, including a description of their direct or indirect
interests, by security holdings or otherwise, will be included in the proxy statement relating to the proposed transaction when it is
filed with the SEC. To the extent holdings of securities by potential participants (or the identity of such participants) have changed
since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected on the Statements
of Change in Ownership of Janus Henderson on Forms 3 and 4 filed with the SEC. Free copies of the proxy statement relating to the proposed
transaction and free copies of the other SEC filings to which reference is made in this paragraph may be obtained from the SEC&rsquo;s
website at https://www.sec.gov or through the investor relations section of Janus Henderson&rsquo;s website at https://ir.janushenderson.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>tm2534023d4_defa14aimg01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2534023d4_defa14aimg01.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  S 00# 2(  A$! Q$!_\0
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F!-78U"QA5 "C@ #I110 ^BBB@ HHHH **** "BBB@ HHHH __]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
