<SEC-DOCUMENT>0000950142-24-002965.txt : 20241219
<SEC-HEADER>0000950142-24-002965.hdr.sgml : 20241219
<ACCEPTANCE-DATETIME>20241219060059
ACCESSION NUMBER:		0000950142-24-002965
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20241219
DATE AS OF CHANGE:		20241219

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Manchester United plc
		CENTRAL INDEX KEY:			0001549107
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				981063519
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-86956
		FILM NUMBER:		241560858

	BUSINESS ADDRESS:	
		STREET 1:		Old Trafford
		CITY:			Manchester
		STATE:			X0
		ZIP:			M16 ORA
		BUSINESS PHONE:		44(0)1618688000

	MAIL ADDRESS:	
		STREET 1:		Old Trafford
		CITY:			Manchester
		STATE:			X0
		ZIP:			M16 ORA

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Manchester United Ltd.
		DATE OF NAME CHANGE:	20120503

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Trawlers Ltd
		CENTRAL INDEX KEY:			0001998369
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Y8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		FORT ANNE
		CITY:			DOUGLAS
		STATE:			Y8
		ZIP:			IM1 5PD
		BUSINESS PHONE:		44-0-1624-638300

	MAIL ADDRESS:	
		STREET 1:		FORT ANNE
		CITY:			DOUGLAS
		STATE:			Y8
		ZIP:			IM1 5PD
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <previousAccessionNumber>0001104659-24-025781</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Trawlers Ltd -->
          <cik>0001998369</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
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      <liveTestFlag>LIVE</liveTestFlag>



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  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Class A Ordinary Shares, Par Value $0.0005 Per Share</securitiesClassTitle>
      <dateOfEvent>12/18/2024</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001549107</issuerCIK>
        <issuerCUSIP>G5784H106</issuerCUSIP>
        <issuerName>Manchester United plc</issuerName>
        <address>
          <com:street1>c/o Manchester United plc</com:street1>
          <com:street2>Old Trafford</com:street2>
          <com:city>Manchester</com:city>
          <com:stateOrCountry>X0</com:stateOrCountry>
          <com:zipCode>M16 0RA</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>c/o Manchester United plc</personName>
          <personPhoneNum>44-0-16-1868-8000</personPhoneNum>
          <personAddress>
            <com:street1>Old Trafford</com:street1>
            <com:city>Manchester</com:city>
            <com:stateOrCountry>X0</com:stateOrCountry>
            <com:zipCode>M16 0RA</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>INEOS Limited</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>Y8</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>49880646.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>49880646.00</sharedDispositivePower>
        <aggregateAmountOwned>49880646.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>56.23</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>James A. Ratcliffe</reportingPersonName>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X0</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>0.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001998369</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Trawlers Ltd</reportingPersonName>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>Y8</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>0.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Class A Ordinary Shares, Par Value $0.0005 Per Share</securityTitle>
        <issuerName>Manchester United plc</issuerName>
        <issuerPrincipalAddress>
          <com:street1>c/o Manchester United plc</com:street1>
          <com:street2>Old Trafford</com:street2>
          <com:city>Manchester</com:city>
          <com:stateOrCountry>X0</com:stateOrCountry>
          <com:zipCode>M16 0RA</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>Introductory Note

This Amendment No. 1 ("Amendment No. 1") amends and supplements the statement on Schedule 13D ("Original Schedule 13D") filed on February 21, 2024 by James A. Ratcliffe, a natural person, and Trawlers Limited ("Trawlers"), a company limited by shares incorporated under the laws of the Isle of Man and wholly owned by James A. Ratcliffe. This Amendment No. 1 is being jointly filed by James A. Ratcliffe, Trawlers and INEOS Limited, a company limited by shares incorporated under the laws of the Isle of Man ("INEOS" and together with James A. Ratcliffe and Trawlers, the "Reporting Persons") with respect to the Class A ordinary shares, par value $0.0005 per share ("Class A ordinary shares") of Manchester United plc, a Cayman Islands company (the "Issuer"), whose principal executive offices are located at Sir Matt Busby Way, Old Trafford, Manchester, England, M16 0RA. This Amendment No. 1 is being filed by the Reporting Persons pursuant to their joint filing agreement (the "Joint Filing Statement") filed as Exhibit I to this Amendment No. 1.

As reported on the Original Schedule 13D, on December 24, 2023, Trawlers, James A. Ratcliffe, the Issuer and the holders of the Issuer's Class B ordinary shares, par value $0.0005 per share (collectively, the "Class B ordinary shares" and together with the Class A ordinary shares, the "Ordinary Shares") entered into that certain agreement (the "Transaction Agreement"). The Transaction Agreement provided that, among other things, and on the terms and subject to the conditions of the Transaction Agreement, Trawlers will, on or prior to December 31, 2024, or such earlier date following the Closing (as defined in the Transaction Agreement) as Trawlers may notify the Issuer in writing on no less than ten (10) business days' written notice, subscribe for the number of Class A ordinary shares and Class B ordinary shares as set forth in the Transaction Agreement for an aggregate subscription price of $100 million (the "Subsequent Subscription"). The Transaction Agreement provided that Trawlers has the right to assign any and all of its rights or obligations provided by the Transaction Agreement to one of its affiliates.

On December 18, 2024, Trawlers entered into that certain assignment and assumption agreement with INEOS (the "Assignment Agreement"), in which Trawlers assigned all its right and obligations under the Transaction Agreement, including the obligation to make the Subsequent Subscription, to INEOS. A copy of the Assignment Agreement is filed as Exhibit J hereto, and is incorporated herein by reference. Subsequently on December 18, 2024, INEOS pursuant to its right to the Subsequent Subscription, using cash on hand, subscribed for 983,449.531 Class A ordinary shares and 2,046,853.499 Class B ordinary shares (as set forth in the Transaction Agreement) for an aggregate subscription price of $100 million.

Additionally, on December 18, 2024, Trawlers transferred its Ordinary Shares to INEOS for consideration of $1,546,061,321 (the "Transfer") pursuant to the Transfer Agreement, dated December 18, 2024, by and between INEOS and Trawlers (the "Transfer Agreement"). A copy of the Transfer Agreement is filed as Exhibit K hereto, and is incorporated herein by reference. As a result of the Transfer, Trawlers ceased to be the record and beneficial owner of the shares and INEOS, which is owned by Chairman James A. Ratcliffe and co-owners Andy Currie and John Reece (who collectively have voting and investment power over the Ordinary Shares held by INEOS), became the sole record and beneficial owner of the Class A ordinary shares.

This Amendment No. 1 is being filed to reflect the Subsequent Subscription and the Transfer. Following these transactions, INEOS will beneficially own 49,880,646.03 Class A ordinary shares.</commentText>
      </item1>
      <item2>
        <filingPersonName>Item 2 of the Original Schedule 13D is hereby amended and restated in its entirety to read as follows:

This statement is being filed pursuant to Rule 13d-1 under the Act by the Reporting Persons. James A. Ratcliffe is a citizen of the United Kingdom and is the CEO and Chairman of INEOS and a Director of INEOS. The business address of James A. Ratcliffe at INEOS is set forth on Schedule I to the Offer to Purchase, dated January 17, 2024 (as amended or supplemented, the "Offer to Purchase") and filed by James A. Ratcliffe and Trawlers on the Tender Offer Statement to Schedule TO with the SEC on January 17, 2024 (together with the exhibits thereto, as amended or supplemented, the "Schedule TO") and is incorporated by reference as Exhibit C herein. The address of the principal business and principal office of INEOS is Hawkslease, Chapel Lane, Lyndhurst, Hampshire, SO43 7FG, United Kingdom. INEOS, together with its subsidiaries and affiliates, is a global manufacturer of petrochemicals, specialty chemicals and other products derived from crude oil and natural gas and a developer of ancillary technologies. INEOS also operates an energy, oil and gas exploration, production and transportation business, has consumer operations in the automotive, fashion and hygiene sectors and manages a portfolio of interests in professional sports teams. The address of the principal business and the principal office of Trawlers is Fort Anne, Douglas, IM1 5PD, Isle of Man. Trawlers was organized in connection with acquiring and holding the Ordinary Shares.

The name, citizenship, business address, present occupation or employment, and the name and address of any corporation or organization in which such employment is conducted of each of the directors and executive officers of INEOS (excluding James A. Ratcliffe) and each of the directors and executive officers of Trawlers (such directors and executive officers, collectively, the "Listed Persons"), are set forth on Exhibit L hereto and incorporated by reference herein.</filingPersonName>
        <principalBusinessAddress>See Item 2(a).</principalBusinessAddress>
        <principalJob>See Item 2(a).</principalJob>
        <hasBeenConvicted>During the last five years, neither the Reporting Persons nor, to the knowledge of the Reporting Persons, any of the Listed Persons have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</hasBeenConvicted>
        <convictionDescription>See Item 2(d).</convictionDescription>
        <citizenship>See Row 6 of the cover page of each Reporting Person.</citizenship>
      </item2>
      <item3>
        <fundsSource>Item 3 of the Original Schedule 13D is hereby supplementally amended as follows:

The information contained in the Introductory Note is incorporated herein by reference.</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>Item 4 of the Original Schedule 13D is hereby supplementally amended as follows:

The Transfer was consummated to change the structure through which the Ordinary Shares are held and to consolidate the Issuer's shares with INEOS' other sports investments.

INEOS holds the Ordinary Shares for the same purposes, and with the same plans or proposals, that are set forth for James A. Ratcliffe and Trawlers in Item 4 of the Original Schedule 13D.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>Item 5 of the Original Schedule 13D is hereby amended and restated in its entirety to read as follows:

The information contained in Annex A attached herewith is incorporated herein by reference.</percentageOfClassSecurities>
        <numberOfShares>The information contained in Annex A attached herewith is incorporated herein by reference.</numberOfShares>
        <transactionDesc>None of the Reporting Persons, or to the Reporting Persons' knowledge, none of the Listed Persons, has effected any transactions in Class A ordinary shares in the past 60 days, other than the those described in the Introductory Note.</transactionDesc>
        <listOfShareholders>None.</listOfShareholders>
        <date5PercentOwnership>As a result of the Transfer, Trawlers ceased to be the record owner of the shares and INEOS, which is owned by Chairman James A. Ratcliffe and co-owners Andy Currie and John Reece, became the sole record and beneficial owner of the Class A ordinary shares.  Due to the ownership arrangements of INEOS, for the purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, only INEOS and not James. A Ratcliffe is a beneficial owner of the Class A ordinary shares.  As such, the filing of this Amendment No. 1 constitutes an exit filing for Trawlers and James A. Ratcliffe, notwithstanding James A. Ratcliffe's ownership position in INEOS.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>Item 6 of the Original Schedule 13D is hereby supplementally amended as follows:

The information contained in the Introductory Note is incorporated herein by reference, including (i) the description of the Assignment Agreement, entered into on December 18, 2024, by and between INEOS and Trawlers and (ii) the description of the Transfer Agreement, entered into on December 18, 2024, by and between INEOS and Trawlers. The description of the Assignment Agreement is qualified in its entirety by the full text of the Assignment Agreement, attached hereto as Exhibit J, and is incorporated herein by reference. Additionally, the description of the Transfer Agreement is qualified in its entirety by the full text of the Transfer Agreement, attached hereto as Exhibit K, and is incorporated herein by reference.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Item 7 of the Original Schedule 13D is hereby supplementally amended by adding the following exhibits as follows:

Annex A*     Number of Shares

Exhibit I*     Joint Filing Agreement, dated December 18, 2024, by and among the Reporting Persons.

Exhibit J*     Assignment Agreement, dated as of December 18, 2024, by and between INEOS and Trawlers.

Exhibit K*    Transfer Agreement, dated as of December 18, 2024, by and between INEOS and Trawlers.

Exhibit L*     Directors and Executive Officers of Trawlers and INEOS.

* Filed herewith.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>INEOS Limited</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Simon Morland</signature>
          <title>Officer</title>
          <date>12/18/2024</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>James A. Ratcliffe</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Jonathan Ginns</signature>
          <title>Jonathan Ginns</title>
          <date>12/18/2024</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Trawlers Ltd</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Tim Shepherd</signature>
          <title>Officer</title>
          <date>12/18/2024</date>
        </signatureDetails>
      </signaturePerson>
      <commentText>The Power of Attorney, executed by James A. Ratcliffe authorizing the signatory to sign and file this Schedule 13D on James A. Ratcliffe's behalf, filed as Exhibit B to the Original Schedule 13D.</commentText>
    </signatureInfo>
  </formData>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.ANNEXA
<SEQUENCE>2
<FILENAME>eh240570287_annexa.htm
<DESCRIPTION>ANNEX A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.25in"><B>ANNEX A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.25in">The following sets forth, as of the
date of this Schedule 13D, the aggregate number and percentage of Class&nbsp;A ordinary shares beneficially owned by each of the
Reporting Persons, as well as the number of Class&nbsp;A ordinary shares as to which each Reporting Person has the sole power to
vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the
disposition of as of the date hereof.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">Reporting Person</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Amount beneficially owned<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(1)</SUP></FONT></B></FONT></TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Percent of class<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(2)</SUP></FONT></B></FONT></TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Sole power to vote or direct the vote</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shared power to vote or to direct the vote</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Sole power to dispose or to direct the disposition of</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shared<BR> power&nbsp;to<BR> dispose&nbsp;or<BR> to&nbsp;direct<BR> the<BR> disposition<BR> of</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 40%">INEOS</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">49,880,646</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">56.23</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">49,880,646</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">49,880,646</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">James A. Ratcliffe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">(3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>Trawlers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 10%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>INEOS is the record holder of 33,692,463 Class&nbsp;B ordinary shares, which are convertible on a one-for-one basis into Class&nbsp;A
ordinary shares at any time at the option of the holder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Based on 55,016,448 Class&nbsp;A ordinary shares outstanding as of the close of business on August 16, 2024, and assumes conversion
of the Class&nbsp;B ordinary shares held by the Reporting Persons.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>James A. Ratcliffe, Andy Currie and John Reece collectively have voting and investment power over the Ordinary Shares held by INEOS.
James A. Ratcliffe, Andy Currie and John Reece each disclaim beneficial ownership over the Ordinary Shares held by INEOS and neither the
filing of this Amendment No. 1 nor any of its contents shall be deemed to constitute an admission by James A. Ratcliffe, Andy Currie and
John Reece that they are the beneficial owners of any of the Class A ordinary shares referred to herein for purposes of Section 13(d)
or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>

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<TYPE>EX-99.I
<SEQUENCE>3
<FILENAME>eh240570287_exi.htm
<DESCRIPTION>EXHIBIT I
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: right; text-indent: 0in">EXHIBIT
I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Joint Filing AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0">In accordance with Rule 13d-1(k)(1) promulgated under the Securities
Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other on behalf of each of them of such a
statement on Schedule 13D with respect to the Class A ordinary shares of Manchester United plc beneficially owned by each of them. This
Joint Filing Agreement shall be included as an Exhibit to such Amendment No. 1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0">IN WITNESS WHEREOF, the undersigned hereby execute this Joint Filing
Agreement as of the 18th day of December, 2024.</P>

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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">INEOS LIMITED</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 35%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Simon Morland</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name: Simon Morland</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:&thinsp; Officer</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">JAMES A. RATCLIFFE</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 35%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Jonathan Ginns**</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">TRAWLERS LIMITED</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 35%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Tim Shepherd</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name: Tim Shepherd</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:&thinsp; Officer</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0">** <FONT STYLE="background-color: white">The Power of Attorney, executed
by James A. Ratcliffe authorizing the signatory to sign and file Amendment No.1 on James A. Ratcliffe&rsquo;s behalf, filed as Exhibit
B to the Original Schedule 13D.</FONT></P>

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

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

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

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<DOCUMENT>
<TYPE>EX-99.J
<SEQUENCE>4
<FILENAME>eh240570287_exj.htm
<DESCRIPTION>EXHIBIT J
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT J</B></P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ASSIGNMENT AND ASSUMPTION
AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>ASSIGNMENT AND ASSUMPTION
AGREEMENT</B> (&ldquo;<U>Agreement</U>&rdquo;) dated as of December <U>18</U>, 2024 between Trawlers Limited, a company limited by shares
incorporated under the laws of the Isle of Man with company number 021222V (&ldquo;<U>Assignor</U>&rdquo;) and INEOS Limited, a company
limited by shares incorporated under the laws of the Isle of Man with company number 013377V (&ldquo;<U>Assignee</U>&rdquo;). Each capitalized
term used but not defined herein has the meaning ascribed to it in the Transaction Agreement (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B><U>RECITALS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Assignor
and Manchester United plc, an exempted company with limited liability incorporated under the Law of the Cayman Islands with company number
268512 (the &ldquo;<U>Company</U>&rdquo;) are parties, among other persons, to that certain Transaction Agreement dated as of December
24, 2023 (the &ldquo;<U>Transaction Agreement</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, pursuant
to Section 10.06(b) of the Transaction Agreement, Assignor desires to assign all the rights, interests and obligations of Assignor under
the Transaction Agreement (including, without limitation, in respect of the Subsequent Share Subscription) to Assignee and Assignee desires
to accept the assignment from Assignor and to assume all such rights, interests and obligations, subject to the terms and conditions of
the Transaction Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, pursuant
to a share purchase agreement to be entered into simultaneously with this Agreement, the Assignor has agreed to sell its interest in the
Company to the Assignee for the consideration set out therein (the &ldquo;<U>Transfer</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>,
in consideration of the foregoing promises (including, for the avoidance of doubt, the Transfer), the agreements, covenants and obligations
hereinafter contained, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Assignor and
Assignee, intending to be legally bound, hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effectiveness</U>.
This Agreement shall be effective as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment
and Assumption</U>. Assignor hereby irrevocably assigns all the rights, interests and obligations of Assignor under the Transaction Agreement
(including, without limitation, in respect of the Subsequent Share Subscription). Assignee hereby irrevocably accepts the assignment from
Assignor and assumes such rights, interests and obligations, subject to the terms and conditions of the Transaction Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. This Agreement (and any claims, disputes, controversies and causes of action or other Proceedings (whether at Law, in contract,
in tort or otherwise) arising out of or relating to this Agreement, the Subsequent Share Subscription or the actions of Assignor or Assignee
in the negotiation, administration, performance and enforcement thereof) shall be governed by, and construed in accordance with, the Laws
of the State of Delaware, without regard to Laws that may be applicable under conflicts of</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">laws principles that would cause the application
of the Laws of any jurisdiction other than the Laws of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.
This Agreement may be executed manually or electronically in two or more counterparts, each of which shall be deemed an original, but
all of which together shall be considered one and the same agreement. A signed copy of this Agreement delivered by facsimile, email or
other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment</U>.
This Agreement may be altered, modified or amended only by a written instrument signed by Assignor and Assignee that makes specific reference
to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">[<I>Signature Pages Follow</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.3in; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>TRAWLERS LIMITED</B></TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 35%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Tim Shepherd</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>Tim Shepherd</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>Director</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.3in; text-indent: -0.3in"></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">[<I>Signature Page to Assignment and Assumption Agreement</I>]</P>

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


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>INEOS LIMITED</B></TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 35%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Simon Morland</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>Simon Morland</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>Officer</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.3in; text-indent: -0.3in"></P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">[<I>Signature Page to Assignment and Assumption Agreement</I>]</P>

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


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<DOCUMENT>
<TYPE>EX-99.K
<SEQUENCE>5
<FILENAME>eh240570287_exk.htm
<DESCRIPTION>EXHIBIT K
<TEXT>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EXHIBIT
K</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>DATED 18 DECEMBER 2024</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>TRAWLERS
LIMITED</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">and</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>INEOS
LIMITED</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>________________________________________</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>SHARE
PURCHASE AGREEMENT</B><BR>
relating to the sale and purchase of shares in<BR>
<B>MANCHESTER UNITED PLC</B><BR>
<U>________________________________________</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Slaughter
and May<BR>
One Bunhill Row<BR>
London EC1Y 8YY<BR>
(ADJ/DJUM/DXQP)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="font-size: 7pt">588024820</FONT></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CONTENTS</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD STYLE="width: 5%">1.</TD>
    <TD STYLE="width: 90%; text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interpretation</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>2.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Sale
    and purchase</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>3.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Consideration</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>4.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Completion</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>5.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Seller&#8217;s
    warranties</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>6.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Further
    assurance</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>7.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Entire
    agreement</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>8.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Assignment</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>9.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Variation</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>10.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Counterparts</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>11.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Contracts
    (Rights of Third Parties) Act 1999</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4</FONT></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(198,244,249)">
    <TD>12.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-left: 0in">Governing law and jurisdiction</TD>
    <TD STYLE="text-align: right; padding-top: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">THIS AGREEMENT
is made on <U>18</U> December 2024</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">BETWEEN:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>TRAWLERS
                                            LIMITED</B>, a company limited by shares incorporated under the laws of the Isle of Man with
                                            company number 021222V and having its registered office at Fort Anne, Douglas, IM1 5PD, Isle
                                            of Man (the &#8220;<B>Seller</B>&#8221;); and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>INEOS
                                            LIMITED</B>, a company limited by shares incorporated under the laws of the Isle of Man with
                                            company number 013377V and having its registered office at First Names House, Victoria Road,
                                            Douglas, IM2 4DF, Isle of Man (the &#8220;<B>Purchaser</B>&#8221;).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">WHEREAS:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Seller is owned by Sir James Arthur Ratcliffe, and the Purchaser is owned by Sir James Arthur
                                            Ratcliffe (who holds 62% of its issued share capital), Andrew Currie (who holds 19% of its
                                            issued share capital) and John Reece (who holds 19% of its issued share capital).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Seller has agreed to sell and the Purchaser has agreed to purchase the Shares (as defined
                                            in this Agreement) on the terms and subject to the conditions of this Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">WHEREBY
IT IS AGREED as follows:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>1.</B></FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Interpretation</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
                                            this Agreement:</FONT></TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 1.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&#8220;Company&#8221;</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">means Manchester United plc,
    an exempted company with limited liability incorporated under the law of the Cayman Islands, with company number 268512;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&#8220;Completion&#8221;</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">means completion of the sale and purchase
    of the Shares under and in accordance with this Agreement;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&#8220;Encumbrance&#8221;</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">means any mortgage, charge (fixed or floating),
    pledge, lien, option, hypothecation, right to acquire, right of pre&#45;emption, deposit by way of security, assignment by way of
    security or trust arrangement for the purpose of providing security, any other third party right or claim or any other form of security
    interest, encumbrance or equity of any kind;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 1.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&#8220;Shares&#8221;</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">means 15,204,733.062 Class A
    ordinary shares and 31,645,609.998 Class B ordinary shares, in each case at $0.0005 par value per share, in the capital of the Company,
    representing c.27.67% of the Company&#8217;s issued share capital and the Seller&#8217;s entire holding and interest in the Company.</FONT></TD></TR>
  </TABLE>

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


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
                                            this Agreement, unless otherwise specified:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.5pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(A)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">references
                                            to clauses and sub-clauses are to clauses and sub-clauses of this Agreement;</FONT></TD></TR></TABLE>

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<TD STYLE="width: 35.5pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(B)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">a
                                            reference to any statute or statutory provision shall be construed as a reference to the
                                            same as it may have been, or may from time to time be, amended, modified or re-enacted; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.5pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(C)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">headings
                                            to clauses are for convenience only and do not affect the interpretation of this Agreement.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Sale and
                                            purchase</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Subject
                                            to the terms and conditions of this Agreement, the Seller shall sell, and the Purchaser shall
                                            purchase, the Shares free from all Encumbrances and together with all rights attached or
                                            accruing to them as at Completion.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">For
                                            the avoidance of doubt, Part 1 of the Law of Property (Miscellaneous Provisions) Act 1994
                                            shall not apply for the purposes of this clause.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Consideration</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt 35.45pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
consideration for the sale of the Shares the Purchaser shall pay $1,546,061,321 to the Seller, which shall be left outstanding as a debt
owed by the Purchaser to the Seller from Completion (&#8220;<B>Consideration</B>&#8221;).</FONT></P>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Completion</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Completion
                                            shall take place immediately upon execution of this Agreement.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Prior
                                            to Completion, the Seller shall procure that a board meeting of the Company is held at which
                                            it shall be resolved that the transfer of the Shares that will take effect as at Completion
                                            shall be approved for registration and (subject only to the transfer being duly stamped)
                                            that the Purchaser will be registered as the holder of all of the Shares in the register
                                            of members of the Company.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">At
                                            Completion:</FONT></TD></TR></TABLE>

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<TD STYLE="width: 35.5pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(A)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">the
                                            Seller shall deliver to the Purchaser:</FONT></TD></TR></TABLE>

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<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">a
                                            duly executed stock transfer form in respect of all of the Shares in favour of the Purchaser;
                                            and</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">such
                                            waivers or consents as the Purchaser may require to enable the Purchaser to be registered
                                            as holders of the Shares; and</FONT></TD></TR></TABLE>

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<TD STYLE="width: 35.5pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(B)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">from
                                            receipt of the duly executed stock transfer form referred to in sub-clause 4.3(A)(i) the
                                            Consideration shall be left outstanding as a debt owed by the Purchaser to the Seller.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Seller&#8217;s
                                            warranties</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Seller warrants to the Purchaser in the following terms:</FONT></TD></TR></TABLE>

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<TD STYLE="width: 35.5pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(A)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Seller is the sole legal and beneficial owner of the Shares.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 35.5pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(B)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Seller has the requisite power, capacity and authority to enter into and perform this Agreement.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.5pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(C)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">There
                                            is no Encumbrance on, over or affecting the Shares or any of them and there is no agreement
                                            or commitment to give or create any and no claim has been made by any person to be entitled
                                            to any.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Further assurance</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt 35.45pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Each
party shall from time to time, on being required to do so by the other party, do or procure the carrying out of all such acts and/or
execute or procure the execution of all such documents as the other may reasonably consider necessary for giving full effect to this
Agreement.</FONT></P>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Entire agreement</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
                                            Agreement and any other documents referred to in this Agreement (the &#8220;<B>Share Purchase
                                            Documents</B>&#8221;) constitute the whole and only agreement between the parties relating
                                            to the sale and purchase of the Shares. Except in the case of fraud, each party acknowledges
                                            that, in entering into the Share Purchase Documents, it is not relying upon any pre-contractual
                                            statement which is not repeated in the Share Purchase Documents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Except
                                            in the case of fraud, no party shall have any right of action against any other party to
                                            this Agreement arising out of or in connection with any pre-contractual statement except
                                            to the extent that it is repeated in the Share Purchase Documents.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">For
                                            the purposes of this clause, &#8220;<B>pre-contractual statement</B>&#8221; means any draft,
                                            agreement, undertaking, representation, warranty, promise, assurance or arrangement of any
                                            nature whatsoever, whether or not in writing, relating to the subject matter of the Share
                                            Purchase Documents made or given by any person at any time prior to this Agreement becoming
                                            legally binding.</FONT></TD></TR></TABLE>


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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">8.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Assignment</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt 35.45pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Either
party may at any time assign all or any part of the benefit of, or its rights or benefits under, this Agreement.</FONT></P>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">9.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Variation</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt 35.45pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">No
variation to or waiver under this Agreement shall be effective unless made in writing and signed by or on behalf of each party.</FONT></P>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Counterparts</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
                                            agreement may be executed in any number of counterparts, and by the parties on separate counterparts,
                                            but shall not be effective until each party has executed at least one counterpart.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Each
                                            counterpart shall constitute an original of this agreement, but all the counterparts shall
                                            together constitute but one and the same instrument.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">11.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Contracts
                                            (Rights of Third Parties) Act 1999</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt 35.45pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
parties to this Agreement do not intend that any term of this Agreement should be enforceable, by virtue of the Contracts (Rights of
Third Parties) Act 1999, by any person who is not a party to this Agreement.</FONT></P>

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<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Governing
                                            law and jurisdiction</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
                                            Agreement is to be governed by and construed in accordance with English law. Any matter,
                                            claim or dispute arising out of or in connection with this agreement, whether contractual
                                            or non-contractual, is to be governed by and determined in accordance with English law.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 14pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Each
                                            party irrevocably submits and agrees that the courts of England and Wales shall have exclusive
                                            jurisdiction to settle any dispute or claim that arises out of or in connection with this
                                            Agreement, its subject matter or its formation (including non-contractual disputes or claims).</FONT></TD></TR></TABLE>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
Agreement has been entered into on the date stated at the beginning of this Agreement.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 14pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Seller</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

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    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Signed by</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 35%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Tim
    Shepherd</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">for and on behalf of</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">/s/ Tim Shepherd</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TRAWLERS LIMITED</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(Signature of named signatory)</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>[Signature
page to share purchase agreement]</I></FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Purchaser</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Signed by</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 40%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Simon
    Morland</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">for and on behalf of</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">/s/ Simon Morland</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>INEOS LIMITED</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(Signature of named signatory)</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>[Signature
page to share purchase agreement]</I></FONT></P>


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<DOCUMENT>
<TYPE>EX-99.L
<SEQUENCE>6
<FILENAME>eh240570287_exl.htm
<DESCRIPTION>EXHIBIT L
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="color: Black"><B>EXHIBIT L</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Directors and
Executive Officers of Trawlers and INEOS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="color: Black"><B>Directors and Executive Officers of
Trawlers</B>. The following table sets forth the name, citizenship, business address and present occupation or employment for each director
and each executive officer of Trawlers.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="color: Black"><B>Name</B></FONT></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="color: Black"><B>Citizenship</B></FONT></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 68%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="color: Black"><B>Present
    Principal Occupation or Employment</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">Graeme Leask</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">CFO of INEOS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">Simon Morland</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">Director of INEOS and Family Office Manager for INEOS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">George Ratcliffe</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">Commercial Director of INEOS Automotive</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">Tristan Head</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">Director and joint corporate and commercial head of Cains Advocates Limited (&ldquo;<B>Cains</B>&rdquo;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">Timothy Shepherd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">Managing director and joint corporate and commercial head of Cains</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">The principal business address for each
of Mr. Leask, Mr. Morland and Mr. Ratcliffe at INEOS is as follows: Hawkslease, Chapel Lane, Lyndhurst, Hampshire, SO43 7FG, United Kingdom.</FONT></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"><FONT STYLE="color: Black">The principal business address for each
of Mr. Head and Mr. Shepherd is as follows: Fort Anne, Douglas, IM1 5PD, Isle of Man.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Directors and Executive Officers
of INEOS<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP></FONT></B>. The following table sets
the name, citizenship, business address and present occupation or employment for each director and each executive officer of for each
director and each executive officer of INEOS.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="color: Black"><B>Name</B></FONT></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="color: Black"><B>Citizenship</B></FONT></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 68%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="color: Black"><B>Present
    Principal Occupation or Employment</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">James A. Ratcliffe</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">CEO and Chairman of INEOS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">Andrew Currie</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">Director of INEOS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">John Reece</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">Finance Director of INEOS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">Jonathan Ginns</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">Head of Mergers &amp; Acquisitions for INEOS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">Simon Morland</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">UK</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: Black">Director of INEOS and Family Office Manager for INEOS</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(1)</FONT></TD><TD><FONT STYLE="color: Black">James A. Ratcliffe is a citizen of the
                                            United Kingdom and is the CEO and Chairman of INEOS and a Director of INEOS. The business
                                            address of James A. Ratcliffe at INEOS is set forth on Schedule I to the Offer to Purchase
                                            and is incorporated by reference as Exhibit C herein.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="color: Black">The principal business address for each
of Mr. Currie, Mr. Reece, Mr. Ginns and Mr. Morland at INEOS is as follows: Hawkslease, Chapel Lane, Lyndhurst, Hampshire, SO43 7FG,
United Kingdom.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="color: Black"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

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