Fenmoor renewal and the additional teams

Dear Priya, Thank you for the call earlier in the month and for the summary you sent afterwards. I have been through it with Imogen and with Richard's office, and I want to set out where we have got to so that we all hold the same version. Our standard position is that we pay list price only in exchange for something that can be traded. On this occasion we are content to accept list price for the Enterprise order form, provided it is tied to onboarding the two additional underwriting teams that Imogen has been planning. We would want the onboarding of those teams written into the order form itself, not left to a side email. Our current Growth term ends on 30 Jun 2026, so I am conscious that the timing is tight. Subject to contract, and subject to Richard's approval, I would like the paperwork to go out on Fenmoor's paper rather than yours, and I will come back with a redline once I have seen your draft. Could you confirm that the above reflects your understanding, and let me know who on your side should receive the redline? Kind regards, Louise Carver Procurement

Hi Louise, hi Imogen, Thanks Louise - that's a really clear summary and it matches my understanding. To keep momentum, here is where we are: - List price on the Enterprise order form, with the onboarding of the two additional underwriting teams written in as part of the agreed scope - Draft order form from me, with your redline coming back on Fenmoor's paper - Richard's approval before anything is signed Happy to make this easy - I'll send the draft order form over today, and you can send the redline straight to me. If we can get this over the line by 30 Jun 2026, there's no gap between the current term and the new one, which I know matters to Imogen's plans for the new teams. Imogen, if it helps, I can ask Daniel to line up a short planning session on the onboarding for the two teams, so the order form and the plan say the same thing. Best, Priya

Dear Priya, Thank you for the draft. I have been through it and attach my redline. In short, I have moved the document onto our standard terms, tightened the wording on the onboarding of the two additional teams so that it is a commitment and not an intention, and asked for the term and the renewal notice provisions to be set out in plain language. Please note this remains subject to contract and to Richard's sign-off. I have not agreed commercial terms beyond what I set out in my earlier note, and I would ask that nothing is treated as final until the executed copy is in place. I appreciate today is the end of the current term. If you can turn the comments around quickly I will do the same on our side, and I will copy Imogen so she can see the changes. Kind regards, Louise Carver Procurement