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Edison Group UK Short Monitor Top UK Shorts February

SMITH (DAVID S) HOLDINGS PLC This chart shows UK companies that were subjected to the greatest shorting activity in terms PLC of percentage of issued share capital, in February. Kier Group plc

Aston Martin Lagonda Global…

EASYJET PLC

Royal Mail Plc

VICTREX PLC

AA PLC

SIG PLC

WEIR GROUP PLC/THE

INTU PROPERTIES PLC

KINGFISHER PLC

Flutter Entertainment plc

TULLOW OIL PLC

PEARSON PLC

WOOD GROUP (JOHN) PLC

METRO BANK PLC

BABCOCK INTL GROUP PLC

CINEWORLD GROUP

HAMMERSON PLC

0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 Amount Shorted (%)

2 Top Total UK Shorts

PETROFAC LTD Here we demonstrate the top 20 most shorted stocks in PLC terms of % of issued share capital, at present. Arrow Global Group plc

INTU PROPERTIES PLC

WEIR GROUP PLC/THE

TULLOW OIL PLC

SIG PLC

CARILLION PLC

GW PHARMACEUTICALS PLC

IQE PLC

BABCOCK INTL GROUP PLC

PEARSON PLC

AA PLC

HAMMERSON PLC

METRO BANK PLC

WOOD GROUP (JOHN) PLC

DEBENHAMS PLC

Flutter Entertainment plc

CINEWORLD GROUP

PREMIER OIL PLC

0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00 20.00 Amount shorted (%)

3 Changes in Short Positions 4.0 This chart shows the percentage change in short positions from January to February for the top 20 most shorted companies in the UK. (slide above) 3.0

2.0

1.0 Chnage (%) Chnage

0.0

-1.0

CINEWORLD GROUP WOOD GROUP (JOHN) PLC AA PLC IQE PLC SIG PLC INTU PROPERTIES PLC LTD Flutter Entertainment plc DEBENHAMS PLC METROBANK PLC HAMMERSONPLC PEARSONPLC BABCOCKINTL GROUP PLC GW PHARMACEUTICALS PLC CARILLION PLC TULLOWOIL PLC WEIR GROUPPLC/THE Arrow Global Group plc AUTO TRADER GROUPPLC -2.0 PREMIER PLCOIL

4 FTSE Price vs Number of Shorts (52 Weeks) 950 4300 The graph shows the total number of shorts each

4250 month through the last 12 months, against the 900 FTSE 350’s price performance.

4200

850 4150

4100 800

4050

750 4000

3950 700

3900

650 3850

600 3800 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020

Number of shorts FTSE Price

5 Size of total shorts (£m)

JPMorgan Asset Management (UK) Ltd This graph represents the top 20 hedge fund ODEY ASSET MANAGEMENT LLP shorters by value. D1 Capital Partners LP

Lansdowne Partners (UK) LLP

AKO Capital LLP for AKO Master Fund Limited

Squarepoint Ops LLC

Sculptor Capital Management Europe Limited

Natixis

Pelham Long/Short Master Fund Limited

Citadel Europe LLP

BNP PARIBAS SA

Capstone Volatility Master (Cayman) Limited

Henderson Global Investors

GLG Partners LP

BlackRock Investment Management (UK) Limited

BG Master Fund PLC

Marshall Wace LLP

AQR Capital Management, LLC

0 200 400 600 800 1000 1200 1400 1600 1800 Size of total shorts (£m)

6