Bermuda Stock Exchange

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Veritas Group Limited Confirms Issuance of 4,500,000 Preferred Shares.

11 March 2021

HAMILTON, Bermuda – 11 March, 2021 – Veritas Group Limited (“Veritas” or the“Company”) (BSX:VERI.BH) has confirmed that the Company issued a total of 4,500,000 preferred shares on 31 December, 2020 to three key Company founders with representation on the Board of Directors for the Company in the following proportions:-

1,485,000 preferred shares to Henri Otto Hager;

1,485,000 preferred shares to Philip Halbert Neilson;

1,530,000 preferred shares to Pritchardia Ltd. represented by Marjorie Coleman.

These preferred shares are voting only shares and are not convertible into common shares. Each of these preferred shares will have 20-times the voting right of each common share outstanding. The structure for these preferred shares will create a counter-balance against any unwanted acquisition, especially if the Company finds itself in a vulnerable position due to circumstances beyond its control. This structure additionally poses significant hurdles for any unwanted purchase or hostile takeover by another company.

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