Research Department: Investment Recommendations Since 3Rd July 2016 Current As of 23/06/2020 @08.26

Research department: Investment recommendations since 3rd July 2016 Current as of 23/06/2020 @08.26

Analyst Date ISIN Company Name Recommendation (1) TP(1) Market Price(2) Adam Forsyth 23/06/2020 US7434651060 ProPhotonix Under Review Under Review 0.875p Adam Forsyth 29/05/2020 SG9999011118 SIMEC Atlantis Energy Under Review Under Review 7.25p Adam Forsyth 14/05/2020 CY0106502111 Dekel Agri-Vision Under Review Under Review 2.2p Adam Forsyth 12/05/2020 CY0106502111 Dekel Agri-Vision Under Review Under Review 2.2p Adam Forsyth 07/05/2020 CY0106502111 Dekel Agri-Vision Under Review Under Review 2.2p Adam Forsyth 30/04/2020 SG9999011118 SIMEC Atlantis Energy Under Review Under Review 7.25p Adam Forsyth 27/04/2020 GB00BTFR4F17 Windar Photonics Under Review Under Review 17.5p Adam Forsyth 14/04/2020 SG9999011118 SIMEC Atlantis Energy Under Review from BUY Under Review from 74p 7.5p Adam Forsyth 09/04/2020 CY0106502111 Dekel Agri-Vision Under Review from BUY Under Review from 17p 2.4p Adam Forsyth 09/04/2020 US7434651060 ProPhotonix Under Review Under Review 1.125p Adam Forsyth 25/03/2020 SG9999011118 SIMEC Atlantis Energy BUY 74p 7p Adam Forsyth 19/03/2020 US7434651060 ProPhotonix Under Review Under Review 1.125p Adam Forsyth 16/03/2020 US7434651060 ProPhotonix Under Review Under Review 1.6p Adam Forsyth 02/03/2020 SG9999011118 SIMEC Atlantis Energy BUY 74p 10.5p Adam Forsyth 05/02/2020 SG9999011118 SIMEC Atlantis Energy BUY 74p 9.15p Adam Forsyth 27/01/2020 SG9999011118 SIMEC Atlantis Energy BUY 74p from 77p 10.5p Adam Forsyth 21/01/2020 GB00BTFR4F17 Windar Photonics Under Review Under Review 30p Adam Forsyth 16/01/2020 US7434651060 ProPhotonix Under Review Under Review 1.55p Adam Forsyth 13/01/2020 CY0106502111 Dekel Agri-Vision BUY 17p from 15p 3.6p Adam Forsyth 19/12/2019 GB00BTFR4F17 Windar Photonics Under Review Under Review 27.5p Adam Forsyth 12/12/2019 GB00BTFR4F17 Windar Photonics Under Review Under Review 27.5p Adam Forsyth 09/12/2019 CY0106502111 Dekel Agri-Vision BUY 15p from 12p 2.8p Adam Forsyth 02/12/2019 CY0106502111 Dekel Agri-Vision BUY 12p 2.45p Adam Forsyth 11/11/2019 GB00BTFR4F17 Windar Photonics Under Review from BUY Under Review from 81p 32.5p Adam Forsyth 31/10/2019 SG9999011118 SIMEC Atlantis Energy BUY from Under Review 77p from Under Review 10.2p Adam Forsyth 17/10/2019 SG9999011118 SIMEC Atlantis Energy Under Review Under Review 9.15p Adam Forsyth 10/10/2019 US7434651060 ProPhotonix Under Review Under Review 3.15p Adam Forsyth 10/10/2019 CY0106502111 DekelOil BUY 12p 2.05p Adam Forsyth 01/10/2019 GB00BTFR4F17 Windar Photonics BUY from Under Review 81p from Under Review 45p Adam Forsyth 30/09/2019 GB00BTFR4F17 Windar Photonics Under Review from BUY Under Review from 81p 45p Adam Forsyth 25/09/2019 CY0106502111 DekelOil BUY 12p 3p Adam Forsyth 09/09/2019 SG9999011118 SIMEC Atlantis Energy Under Review Under Review 10.25p Adam Forsyth 06/09/2019 SG9999011118 SIMEC Atlantis Energy Under Review Under Review 10.25p Adam Forsyth 06/09/2019 US7434651060 ProPhotonix Under Review from HOLD Under Review from 3.6p 3.15p Adam Forsyth 03/09/2019 CY0106502111 DekelOil BUY 12p 2.75p Adam Forsyth 28/08/2019 GB00B18S7B29 AFC Energy BUY from Under Review 20p from Under Review 4.3p Adam Forsyth 27/08/2019 GB00B18S7B29 AFC Energy Under Review Under Review 4.7p Adam Forsyth 26/07/2019 GB00B18S7B29 AFC Energy Under Review Under Review 4.7p Adam Forsyth 24/07/2019 CY0106502111 DekelOil BUY 12p from 13p 3.0p Adam Forsyth 15/07/2019 SG9999011118 SIMEC Atlantis Energy Under Review Under Review 14.75p Adam Forsyth 10/07/2019 SG9999011118 SIMEC Atlantis Energy Under Review Under Review 15p Adam Forsyth 09/07/2019 CY0106502111 DekelOil BUY 13p 3.1p Adam Forsyth 04/07/2019 CY0106502111 DekelOil BUY 13p 3.1p Adam Forsyth 28/06/2019 SG9999011118 SIMEC Atlantis Energy Under Review from BUY Under Review from 84p 17.25p Adam Forsyth 27/06/2019 GB00BTFR4F17 Windar Photonics BUY 81p 44p Adam Forsyth 27/06/2019 CY0106502111 DekelOil BUY 13p 3.2p Adam Forsyth 26/06/2019 GB00B18S7B29 AFC Energy Under Review Under Review 4.8p Adam Forsyth 24/06/2019 GB00B18S7B29 AFC Energy Under Review Under Review 5.6p Adam Forsyth 14/06/2019 US62847T2024 MYCELX Technologies BUY 221p from 295p 188p Adam Forsyth 20/05/2019 GB00B18S7B29 AFC Energy Under Review Under Review 4.3p Adam Forsyth 17/05/2019 US7434651060 ProPhotonix HOLD from BUY 3.6p from 10.9 3.8p Adam Forsyth 15/05/2019 SG9999011118 SIMEC Atlantis Energy BUY 84p 17.75p Adam Forsyth 13/05/2019 US62847T2024 MYCELX Technologies BUY 295p 205p Adam Forsyth 18/04/2019 AU0000XINAS1 CAP-XX BUY 15.9p from 17p 5.3p Adam Forsyth 16/04/2019 GB00B1GDWB47 Plutus Powergen BUY 2.6p 0.34p Adam Forsyth 12/04/2019 GB00B18S7B29 AFC Energy Under Review from BUY Under Review from 61p 3.78p Adam Forsyth 09/04/2019 GB00B18S7B29 AFC Energy BUY 61p 3.64p Adam Forsyth 09/04/2019 CY0106502111 DekelOil BUY 13p 3p Adam Forsyth 09/04/2019 CY0106502111 DekelOil BUY from Under Review 13p from Under Review 3.2p Adam Forsyth 05/04/2019 GB00B1GDWB47 Good Energy BUY from HOLD 232p from Under Review 100p Adam Forsyth 05/04/2019 CH0110303119 Leclanché Under Review from BUY Under Review from CHF3.4 CHF1.98 Adam Forsyth 05/04/2019 US7434651060 ProPhotonix BUY 10.9p 3.4p Adam Forsyth 03/04/2019 US7434651060 ProPhotonix BUY 10.9p 3.6p Adam Forsyth 02/04/2019 GB00BTFR4F17 Windar Photonics BUY 81p 47p Adam Forsyth 01/04/2019 SG9999011118 SIMEC Atlantis Energy BUY 84p from 86p 16.5p Adam Forsyth 19/03/2019 GB00B18S7B29 AFC Energy BUY 61p 4.95p Adam Forsyth 18/03/2019 FR0012650166 ENGIE Eps BUY €15.50 from €17.0 € 11.30 Adam Forsyth 07/03/2019 US7434651060 ProPhotonix BUY 10.9p 3.75p Adam Forsyth 06/03/2019 AU0000XINAS1 CAP-XX Under Review from BUY Under Review from 17p 7.55p Adam Forsyth 06/03/2019 CH0110303119 Leclanché BUY CHF3.4 CHF1.8 Adam Forsyth 05/03/2019 GB00B1GDWB47 Good Energy HOLD Under Review 97p Adam Forsyth 01/03/2019 US62847T2024 MYCELX Technologies BUY 295p from 276P 240p Adam Forsyth 14/02/2019 US62847T2024 MYCELX Technologies BUY 276p from 251p 230p Adam Forsyth 12/02/2019 GB00BTFR4F17 Windar Photonics BUY 81p from 128p 73p Adam Forsyth 11/02/2019 SG9999011118 SIMEC Atlantis Energy BUY 86p 20.75p Adam Forsyth 11/02/2019 GB00BTFR4F17 Windar Photonics BUY Under Review from 128p 77.5p Adam Forsyth 05/02/2019 AU0000XINAS1 CAP-XX BUY 17p 8.55p Adam Forsyth 30/01/2019 GB00B1GDWB47 Plutus Powergen BUY 2.6p from 3.4p 0.50p Adam Forsyth 24/01/2019 CH0110303119 Leclanché BUY CHF3.4 CHF1.94 Adam Forsyth 17/01/2019 GB00B18S7B29 AFC Energy BUY 61p 5.65p Adam Forsyth 10/01/2019 CY0106502111 DekelOil Under Review from HOLD Under Review from 4p 3.15p Ashley Kelty/Jack Allardyce 17/05/2019 CA78410A1075 SDX Energy BUY 70p from 77p 32p Ashley Kelty/Jack Allardyce 23/04/2019 CA46989Q1000 Jadestone Energy BUY 103p from 97p 49.5p Ashley Kelty/Jack Allardyce 18/04/2019 GB00B0CY5V57 Serica Energy BUY 166p from 160p 140p Ashley Kelty/Jack Allardyce 11/04/2019 GB0032087826 Amerisur Resources BUY 27p 13.7p Ashley Kelty/Jack Allardyce 08/04/2019 CA78410A1075 SDX Energy BUY 77p 35.75p

#Classification: Internal Use Only Research department: Investment recommendations since 3rd July 2016 Current as of 23/06/2020 @08.26

Ashley Kelty/Jack Allardyce 01/04/2019 GB00B580MF54 Hurricane Energy BUY 96p from 94p 46.2p Ashley Kelty/Jack Allardyce 28/03/2019 GB00B580MF54 Hurricane Energy BUY 94p from 87p 46.94p Ashley Kelty/Jack Allardyce 22/03/2019 CA78410A1075 SDX Energy BUY 77p 42.5p Ashley Kelty/Jack Allardyce 18/03/2019 AU000000RRS3 Range Resources Under review from BUY Under Review from 0.17p 0.025p Ashley Kelty/Jack Allardyce 14/03/2019 CA46989Q1000 Jadestone Energy BUY 97p from 94p 47.4p Ashley Kelty/Jack Allardyce 08/03/2019 GB0032087826 Amerisur Resources BUY 27p from 22p 16.7p Ashley Kelty/Jack Allardyce 21/02/2019 GB00B0CY5V57 Serica Energy BUY 160p from 163p 135.5p Ashley Kelty/Jack Allardyce 13/02/2019 GB00BYNFCH09 RockRose Energy BUY 1107p from 1080p 700p Ashley Kelty/Jack Allardyce 11/02/2019 CA46989Q1000 Jadestone Energy BUY 94p 37.9p Ashley Kelty/Jack Allardyce 07/02/2019 CA78410A1075 SDX Energy BUY 77p 39.25p Ashley Kelty/Jack Allardyce 31/01/2019 AU000000RRS3 Range Resources BUY 0.17p from 0.25p 0.04p Ashley Kelty/Jack Allardyce 28/01/2019 CA78410A1075 SDX Energy BUY 77p from 79p 39.5p Ashley Kelty/Jack Allardyce 14/01/2019 CA78410A1075 SDX Energy BUY 79p 42.5p Ashley Kelty/Jack Allardyce 11/01/2019 GB00BF44KY60 Rose Petroleum BUY 9p 2.75p Brian White 12/06/2020 GB00BZ4G2K23 Mereo Biopharma BUY Under Review 42p Brian White 04/06/2020 GB00BZ4G2K23 Mereo Biopharma BUY Under Review from 650p 23.0p Brian White 15/04/2020 GB00BDB6Q760 Diurnal BUY 82p 28p Brian White 27/03/2020 GB0009895292 AstraZeneca BUY 8400p 6882p Brian White 27/03/2020 GB0009252882 GlaxoSmithKline BUY 2000p 1476p Brian White 27/03/2020 GB00BDB6Q760 Diurnal BUY 82p 30.5p Brian White 12/03/2020 GB0009633180 Dechra BUY 3350p 2512p Brian White 06/03/2020 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF44 Brian White 28/02/2020 GB00BZ4G2K23 Mereo Biopharma BUY 650p 25.5p Brian White 27/02/2020 GB00BOLCW083 Hikma BUY 2300p 1825p Brian White 24/02/2020 GB0009633180 Dechra BUY 3350p 2798p Brian White 18/02/2020 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF59.8 Brian White 31/01/2020 GB0009895292 AstraZeneca BUY 8400p from Under Review 7495p Brian White 31/01/2020 GB0009252882 GlaxoSmithKline BUY 2000p 1792p Brian White 28/01/2020 IE0033024807 UDG Healthcare BUY 940p 790p Brian White 23/01/2020 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF59.6 Brian White 20/01/2020 GB00BDB6Q760 Diurnal BUY 82p 27p Brian White 16/01/2020 GB0009633180 Dechra BUY 3350p 3068p Brian White 14/01/2020 GB00BZ4G2K23 Mereo Biopharma BUY 650p 38p Brian White 10/01/2020 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF51.4 Brian White 16/12/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF47.7 Brian White 16/12/2019 GB00BDB6Q760 Diurnal BUY 82p 29.5p Brian White 06/12/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF50.1 Brian White 03/12/2019 IE0033024807 UDG Healthcare BUY 940p from 900p 811p Brian White 02/12/2019 GB00BDB6Q760 Diurnal BUY 82p 32p Brian White 28/11/2019 GB00BZ4G2K23 Mereo Biopharma BUY 650p from Under review 37p Brian White 26/11/2019 IE0033024807 UDG Healthcare BUY 900p 756p Brian White 20/11/2019 GB00BDB6Q760 Diurnal BUY 82p 30.5p Brian White 11/11/2019 GB00BZ4G2K23 Mereo Biopharma BUY Under review from 720p 51.5p Brian White 07/11/2019 GB00BOLCW083 Hikma BUY 2300p 2025p Brian White 30/10/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF41 Brian White 24/10/2019 GB0009895292 AstraZeneca BUY Under Review from 6600p 6919p Brian White 11/10/2019 GB0009252882 GlaxoSmithKline BUY from HOLD 2000p from 1450p 1720p Brian White 11/10/2019 GB0009895292 AstraZeneca BUY 6600p 7052p Brian White 30/09/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF43 Brian White 25/09/2019 GB00BZ4G2K23 Mereo Biopharma BUY 720p 62p Brian White 24/09/2019 GB00BDB6Q760 Diurnal BUY 82p 32p Brian White 06/09/2019 GB0009633180 Dechra BUY 3350p from Under Review 3000p Brian White 03/09/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF45 Brian White 02/09/2019 GB0009633180 Dechra BUY 2700p from Under Review 3000p Brian White 20/08/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF37 Brian White 19/08/2019 IE0033024807 UDG Healthcare BUY 900p from 870p 784p Brian White 14/08/2019 GB00BOLCW083 Hikma BUY 2300p from 2200p 1958p Brian White 13/08/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF37 Brian White 09/08/2019 GB00BOLCW083 Hikma BUY 2200p 1841p Brian White 09/08/2019 GB00BZ4G2K23 Mereo Biopharma BUY 720p 43p Brian White 09/08/2019 GB0009895292 AstraZeneca BUY 6600p 7338p Brian White 09/08/2019 GB0009252882 GlaxoSmithKline HOLD 1450p 1669p Brian White 07/08/2019 IE0033024807 UDG Healthcare BUY 870p 752p Brian White 06/08/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF35 Brian White 01/08/2019 GB00BDB6Q760 Diurnal BUY 82p 37p Brian White 28/06/2019 USU9221J1098 Verseon BUY 232p 42p Brian White 17/07/2019 CH0106213793 Polyphor AG BUY Under Review CHF 9.61p Brian White 28/06/2019 USU9221J1098 Verseon BUY 232p 42p Brian White 31/05/2019 GB00BZ4G2K23 Mereo Biopharma BUY 720p 85p Brian White 30/05/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF42 Brian White 30/05/2019 GB00BZ4G2K23 Mereo Biopharma BUY 720p 72.5p Brian White 21/05/2019 IE0033024807 UDG Healthcare BUY 870p 655p Brian White 17/05/2019 GB00BOLCW083 Hikma BUY 2200p 1784p Brian White 10/05/2019 CH0106213793 Polyphor AG UNDER REVIEW from BUY Under Review from CHF59 25.69p Brian White 07/05/2019 GB00BZ4G2K23 Mereo Biopharma BUY 720p 81p Brian White 29/04/2019 GB00BZ4G2K23 Mereo Biopharma BUY 720p 115p Brian White 12/04/2019 CH0106213793 Polyphor AG BUY CHF59 22.55p Brian White 11/04/2019 GB00BDB6Q760 Diurnal BUY from UNDER REVIEW 82p from Under Review 25.5p Brian White 09/04/2019 GB00BOLCW083 Hikma BUY 2200p from 2100p 1801p Brian White 29/03/2019 CH0106213793 Polyphor AG BUY CHF59 CHF20.7 Brian White 28/03/2019 GB00BDB6Q760 Diurnal UNDER REVIEW Under Review 23.5p Brian White 20/03/2019 GB00BDB6Q760 Diurnal UNDER REVIEW Under Review 28p Brian White 15/03/2019 CH0106213793 Polyphor AG BUY CHF59 CHF20 Brian White 13/03/2019 GB00BOLCW083 Hikma BUY 2100p 1655p Brian White 07/03/2019 GB0009633180 Dechra BUY 2700p 2524p Brian White 01/03/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF51 Brian White 25/02/2019 GB0009633180 Dechra BUY 2700p 2500p Brian White 19/02/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF52 Brian White 08/02/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 CHF51.3 Brian White 05/02/2019 GB00BDB6Q760 Diurnal UNDER REVIEW Under Review 37p Brian White 05/02/2019 CH0106213793 Polyphor AG BUY CHF59 CHF21.6 Brian White 04/02/2019 USU9221J1098 Verseon BUY 232p 100p Brian White 01/02/2019 GB0000946276 Consort Medical BUY 1180p 941p Brian White 29/01/2019 IE0033024807 UDG Healthcare BUY 870p 560p Brian White 28/01/2019 GB00BDHSP575 Destiny Pharma BUY 330p 74p

#Classification: Internal Use Only Research department: Investment recommendations since 3rd July 2016 Current as of 23/06/2020 @08.26

Brian White 25/01/2019 GB00BDHSP575 Destiny Pharma BUY 330p 66p Brian White 18/01/2019 GB0009633180 Dechra BUY 2700p 2428p Brian White 17/01/2019 GB00BZ4G2K23 Mereo Biopharma BUY 720p 181p Brian White 14/01/2019 GB0009633180 Dechra BUY 2700p 2282p Brian White 09/01/2019 CH0011432447 Basilea Pharmaceutica BUY CHF120 from CHF108.7 CHF48.42 Brian White 07/01/2019 CH0011432447 Basilea Pharmaceutica BUY CHF108.7 CHF44 Gareth Evans 02/04/2020 GB00B0WY3Y47 AdEPT Telecom BUY 300p from 600p 183p Gareth Evans 12/12/2019 GB00B0WY3Y47 AdEPT Telecom BUY 600p 370p Ian Poulter 10/02/2020 GB000267504 Dewhurst HOLD from Under Review 1,050p from Under Review 1115p Ian Poulter 10/02/2020 GB0002675261 Dewhurst HOLD from Under Review 1,050p from Under Review 1115p Ian Poulter 10/12/2019 GB000267504 Dewhurst Under Review from BUY U/R from 1,050p 963p Ian Poulter 10/12/2019 GB0002675261 Dewhurst Under Review from BUY U/R from 1,050p 963p Ian Poulter 26/09/2019 GB000267504 Dewhurst BUY from Under Review 1050p from Under Review 925p Ian Poulter 26/09/2019 GB0002675261 Dewhurst BUY from Under Review 1050p from Under Review 925p Ian Poulter 25/09/2019 GB000267504 Dewhurst Under Review from HOLD U/R from 1075p 925p Ian Poulter 25/09/2019 GB0002675261 Dewhurst Under Review from HOLD U/R from 1075p 925p Ian Poulter 11/06/2019 GB000267504 Dewhurst HOLD 1075p from 950p 1100p Jack Allardyce 20/05/2020 CA78410A1075 SDX Energy BUY Under Review 17.5p Jack Allardyce 13/05/2020 GB00B28YML29 Egdon Resources BUY 13.2p 1.65p Jack Allardyce 23/04/2020 CA78410A1075 SDX Energy BUY Under Review 15.25p Jack Allardyce 21/04/2020 GB00B28YML29 Egdon Resources BUY 13.2p 2.1p Jack Allardyce 20/04/2020 AU00000088E2 88 Energy Limited Under Review Under Review 0.265p Jack Allardyce 14/04/2020 GB00B28YML29 Egdon Resources BUY 13.2p 2.35p Jack Allardyce 08/04/2020 CA78410A1075 SDX Energy BUY Under Review 13.00p Jack Allardyce 07/04/2020 CA78410A1075 SDX Energy BUY Under Review 13.75p Jack Allardyce 07/04/2020 AU00000088E2 88 Energy Limited Under Review from BUY U/R from 4.3p 1.1p Jack Allardyce 02/04/2020 GB00B28YML29 Egdon Resources BUY 13.2p 2.3p Jack Allardyce 31/03/2020 AU00000088E2 88 Energy Limited BUY 4.3p 1.0p Jack Allardyce 30/03/2020 GB00B28YML29 Egdon Resources BUY 13.2p 1.95p Jack Allardyce 26/03/2020 GB00BYNFCH09 RockRose Energy Under Review from BUY Under Review from 3004p 588p Jack Allardyce 25/03/2020 GB00B580MF54 Hurricane Energy Under Review from BUY U/R from 96p 13.62p Jack Allardyce 19/03/2020 CA78410A1075 SDX Energy BUY Under Review 12p Jack Allardyce 18/03/2020 GB00B28YML29 Egdon Resources BUY 13.2p from 18.7p 2.15p Jack Allardyce 10/03/2020 CA46989Q1000 Jadestone Energy BUY Under Review 52p Jack Allardyce 10/03/2020 GB00BYNFCH09 RockRose Energy BUY 3004p 888p Jack Allardyce 10/03/2020 CA78410A1075 SDX Energy BUY Under Review 15.25p Jack Allardyce 06/03/2020 GB00B580MF54 Hurricane Energy BUY 96p 14.9p Jack Allardyce 04/03/2020 CA78410A1075 SDX Energy BUY Under Review 18.5p Jack Allardyce 03/03/2020 AU00000088E2 88 Energy Limited BUY 4.3p 1.0p Jack Allardyce 26/02/2020 GB00B28YML29 Egdon Resources BUY 18.7p 3.9p Jack Allardyce 25/02/2020 CA46989Q1000 Jadestone Energy BUY Under Review 69.5p Jack Allardyce 14/02/2020 CA78410A1075 SDX Energy BUY Under Review 22p Jack Allardyce 06/02/2020 GB00B580MF54 Hurricane Energy BUY 96p 21.1p Jack Allardyce 04/02/2020 GB00BYNFCH09 RockRose Energy BUY 3004p 1820p Jack Allardyce 28/01/2020 CA78410A1075 SDX Energy BUY Under Review 26p Jack Allardyce 24/01/2020 AU00000088E2 88 Energy Limited BUY 4.3p 1.25p Jack Allardyce 22/01/2020 GB00B28YML29 Egdon Resources BUY 18.7p from Under Review 5.3p Jack Allardyce 22/01/2020 CA78410A1075 SDX Energy BUY Under Review from 70p 25.75p Jack Allardyce 07/01/2020 CA78410A1075 SDX Energy BUY 70p 22p Jack Allardyce 07/01/2020 GB00BYNFCH09 RockRose Energy BUY 3004p 1850p Jack Allardyce 11/12/2019 GB00BYNFCH09 RockRose Energy BUY 3004p 1715p Jack Allardyce 02/12/2019 GB00B580MF54 Hurricane Energy BUY 96p 46.4p Jack Allardyce 19/11/2019 GB00B28YML29 Egdon Resources BUY Under Review 3.25p Jack Allardyce 18/11/2019 CA46989Q1000 Jadestone Energy BUY Under Review from 103p 63.25p Jack Allardyce 15/11/2019 GB0032087826 Amerisur Resources BUY 27p 18p Jack Allardyce 12/12/2019 CA78410A1075 SDX Energy BUY 70p 22p Jack Allardyce 04/11/2019 GB00B28YML29 Egdon Resources BUY Under Review from 19p 4.35p Jack Allardyce 25/10/2019 CA78410A1075 SDX Energy BUY 70p 22p Jack Allardyce 15/10/2019 AU00000088E2 88 Energy Limited BUY 4.3p 0.685p Jack Allardyce 11/10/2019 GB0032087826 Amerisur Resources BUY 27p 17.5p Jack Allardyce 01/10/2019 GB00B28YML29 Egdon Resources BUY 19p 5.25p Jack Allardyce 24/09/2019 GB00B0CY5V57 Serica Energy BUY 166p 135p Jack Allardyce 24/09/2019 GB00BYNFCH09 RockRose Energy BUY 3004p 1915p Jack Allardyce 12/09/2019 GB0032087826 Amerisur Resources BUY 27p 17.4p Jack Allardyce 12/09/2019 GB00B580MF54 Hurricane Energy BUY 96p 45.3p Jack Allardyce 11/09/2019 AU00000088E2 88 Energy Limited BUY 4.3p 0.725p Jack Allardyce 03/09/2019 AU000000RRS3 Range Resources Under Review € 0.02 Jack Allardyce 02/09/2019 GB00B580MF54 Hurricane Energy BUY 96p 43.72p Jack Allardyce 23/08/2019 AU00000088E2 88 Energy Limited BUY 4.3p from 2.7p 0.875p Jack Allardyce 22/08/2019 AU00000088E2 88 Energy Limited BUY 4.3p from 2.7p 0.95p Jack Allardyce 22/08/2019 CA78410A1075 SDX Energy BUY 70p 19p Jack Allardyce 12/08/2019 CA27887W1005 Eco (Atlantic) Oil & Gas BUY Under Review from 110p 69p Jack Allardyce 06/08/2019 AU00000088E2 88 Energy Limited BUY 2.7p 1.0p Jack Allardyce 23/07/2019 GB00BYNFCH09 RockRose Energy BUY 3004p from 1107p 815p Jack Allardyce 15/07/2019 GB00B28YML29 Egdon Resources BUY 20p 4.25p Jack Allardyce 12/07/2019 GB00B580MF54 Hurricane Energy BUY 96p 53.6p Jack Allardyce 08/07/2019 CA78410A1075 SDX Energy BUY 70p € 19.25 Jack Allardyce 08/07/2019 CA27887W1005 Eco (Atlantic) Oil & Gas BUY 110p 71.4p Jack Allardyce 01/07/2019 GB00B580MF54 Hurricane Energy BUY 96p 52.5p Jack Allardyce 27/06/2019 GB00B28YML29 Egdon Resources BUY 20p 4.5p Jack Allardyce 26/06/2019 CA78410A1075 SDX Energy BUY 70p 21.75p Jack Allardyce 26/06/2019 AU00000088E2 88 Energy Limited BUY 2.7p 0.875p Jack Allardyce 11/06/2019 GB0032087826 Amerisur Resources BUY 27p 11.86p Jack Allardyce 05/06/2019 GB00B580MF54 Hurricane Energy BUY 96p 59.05p Jack Allardyce 04/06/2019 GB00B28YML29 Egdon Resources BUY 20p 4.75p Jack Allardyce/Ashley Kelty 23/05/2019 AU00000088E2 88 Energy Limited BUY 2.7p 0.76p Jack Allardyce/Ashley Kelty 09/04/2019 GB00B28YML29 Egdon Resources BUY 20p 5.75p Jack Allardyce/Ashley Kelty 29/03/2019 CA27887W1005 Eco (Atlantic) Oil & Gas BUY 110p 84p Jack Allardyce/Ashley Kelty 28/03/2019 GB00B28YML29 Egdon Resources BUY 20p 6.75p Jack Allardyce/Ashley Kelty 20/03/2019 AU00000088E2 88 Energy Limited BUY 2.7p 0.77p Jack Allardyce/Ashley Kelty 18/03/2019 CA27887W1005 Eco (Atlantic) Oil & Gas BUY 110p 89.5p Jack Allardyce/Ashley Kelty 11/03/2019 GB00B28YML29 Egdon Resources BUY 20p 6.75p Jack Allardyce/Ashley Kelty 07/03/2019 CA27887W1005 Eco (Atlantic) Oil & Gas BUY 110p 82p Jack Allardyce/Ashley Kelty 04/03/2019 AU00000088E2 88 Energy Limited BUY 2.7p from 4.4p 0.79p Jack Allardyce/Ashley Kelty 04/03/2019 AU00000088E2 88 Energy Limited BUY 4.4p 0.79p Jack Allardyce/Ashley Kelty 04/03/2019 GB00B28YML29 Egdon Resources BUY 20p 6.65p

#Classification: Internal Use Only Research department: Investment recommendations since 3rd July 2016 Current as of 23/06/2020 @08.26

Jack Allardyce/Ashley Kelty 25/02/2019 GB00B28YML29 Egdon Resources BUY 20p 6.7p Jack Allardyce/Ashley Kelty 21/02/2019 GB00B28YML29 Egdon Resources BUY 20p from 24p 6.25p Jack Allardyce/Ashley Kelty 20/02/2019 IE00BWVFTP56 San Leon Energy N/R N/A 30.6p Jack Allardyce/Ashley Kelty 06/02/2019 AU00000088E2 88 Energy Limited BUY 4.4p 1.1p Jack Allardyce/Ashley Kelty 28/01/2019 GB00B03VVN93 Sirius Petroleum BUY 1.0p 0.6p Jack Allardyce/Ashley Kelty 25/01/2019 GB00B28YML29 Egdon Resources BUY 24p 7.95p Jack Allardyce/Ashley Kelty 15/01/2019 GB00B03VVN93 Sirius Petroleum BUY 1.0p from 2.3p 0.63p Jack Allardyce/Ashley Kelty 10/01/2019 GB0033032904 Faroe Petroleum HOLD from BUY 160p from 195p 161p Jack Allardyce/Ashley Kelty 09/01/2019 GB0033032904 Faroe Petroleum BUY 195p from 202p 153.6p Kevin Ashton/Harold Evans 24/07/2019 GB00BLZH2C83 Quartix BUY 400p 284p Kevin Ashton/Harold Evans 09/07/2019 GB00B0WY3Y47 AdEPT Technology BUY 600p 362p Kevin Ashton/Harold Evans 27/06/2019 GB00B0WY3Y47 AdEPT Technology BUY 600p 362p Kevin Ashton/Harold Evans 19/06/2019 GB00BLZH2C83 Quartix BUY 400p 255p Kevin Ashton/Harold Evans 28/05/2019 IL0011354904 Albert Technologies BUY 40p from 80p 16.5p Kevin Ashton/Harold Evans 03/05/2019 GB00B0WY3Y47 AdEPT Telecom BUY 600p 345p Kevin Ashton/Harold Evans 27/03/2019 GB0008808825 Gresham Technologies BUY 180p 86p Kevin Ashton/Harold Evans 26/03/2019 IL0011354904 Albert Technologies BUY 80p 21.5p Kevin Ashton/Harold Evans 26/03/2019 IL0011354904 Albert Technologies BUY 80p 21.5p Kevin Ashton/Harold Evans 26/03/2019 GB00BLZH2C83 Quartix BUY 400p 245p Kevin Ashton/Harold Evans 26/03/2019 GB00BLZH2C83 Quartix BUY 400p 245p Kevin Ashton/Harold Evans 12/03/2019 GB0008808825 Gresham Technologies BUY 180p 90p Kevin Ashton/Harold Evans 25/02/2019 GB00BLZH2C83 Quartix BUY 400p 243p Kevin Ashton/Harold Evans 25/02/2019 GB00BLZH2C83 Quartix BUY 400p 243p Kevin Ashton/Harold Evans 22/01/2019 IL0011354904 Albert Technologies BUY 80p 28p Kevin Ashton/Harold Evans 07/01/2019 GB0008808825 Gresham Technologies BUY 180p 66p Kevin Lapwood 26/02/2020 GB0009589168 Symphony Environmental Tech BUY Under Review from 12p 16p Kevin Lapwood 21/05/2020 GB00BSM98843 Directa Plus BUY Under Review from 106p 84p Kevin Lapwood 13/03/2020 GB00BSM98843 Directa Plus BUY 106p 61.5p Kevin Lapwood 26/02/2020 GB0009589168 Symphony Environmental Tech BUY 12p 8.25p Kevin Lapwood 07/01/2020 GB0009589168 Symphony Environmental Tech BUY 12p from 21p 6.8p Kevin Lapwood 17/12/2019 GB0009589168 Symphony Environmental Tech BUY 21p 6.85p Kevin Lapwood 09/12/2019 GB00BSM98843 Directa Plus BUY 106p 74.25p Kevin Lapwood 21/10/2019 GB00BSM98843 Directa Plus BUY 106p 72p Kevin Lapwood 01/10/2019 GB0009589168 Symphony Environmental Tech BUY 21p 7.2p Kevin Lapwood 27/09/2019 GB0009589168 Symphony Environmental Tech BUY 21p 8.25p Kevin Lapwood 22/08/2019 GB0009589168 Symphony Environmental Tech BUY 21p 8.75p Kevin Lapwood 25/06/2019 GB00BSM98843 Directa Plus BUY from Under Review 106p from Under Review 83p Kevin Lapwood 18/06/2019 GB00BSM98843 Directa Plus Under Review from BUY Under Review from 80p 84.0p Kevin Lapwood 23/04/2019 GB00BSM98843 Directa Plus BUY 80p 63p Kevin Lapwood 17/04/2019 GB00BSM98843 Directa Plus BUY 80p 63p Kevin Lapwood 01/04/2019 GB00BSM98843 Directa Plus BUY 80p 58p Kevin Lapwood 19/03/2019 GB0009589168 Symphony Environmental Tech BUY 21p 6.8p Kevin Lapwood 15/03/2019 GB0009589168 Symphony Environmental Tech BUY 21p 5.9p Kevin Lapwood 18/02/2019 GB00BSM98843 Directa Plus BUY 80p 65p Mark Photiades 24/04/2020 GB00B058DS79 SpaceandPeople Under Review Under Review 5.25p Mark Photiades 30/03/2020 GB00B05J4D26 United Carpets UNDER REVIEW from BUY Under Review from 4.75p 4.25p Mark Photiades 25/03/2020 GB00BZC0LC10 Victoria BUY U/R from 575p 150p Mark Photiades 19/03/2020 GB0006957293 Portmeirion Under review from BUY Under Review from 910p 385p Mark Photiades 19/03/2020 GB00B058DS79 SpaceandPeople U/R from BUY U/R from 18p 7p Mark Photiades 18/03/2020 GB00B60BD277 Superdry U/R from HOLD U/R from 450p 100p Mark Photiades 05/03/2020 GB00B18P5K83 Topps Tiles HOLD 50.5p from 65p 56p Mark Photiades 25/02/2020 GB00BZC0LC10 Victoria BUY 575p from 650p 395p Mark Photiades 14/02/2020 GB00B1CKQ739 Dunelm BUY 1450p from 1265p 1298p Mark Photiades 12/02/2020 GB00B05J4D26 United Carpets BUY 4.75p from 6.0p 4.25p Mark Photiades 12/02/2020 GB00B05J4D26 United Carpets BUY 6.0p 5.25p Mark Photiades 12/02/2020 GB00B1CKQ739 Dunelm BUY 1265p 1201p Mark Photiades 03/02/2020 GB00B058DS79 SpaceandPeople BUY 18p from 25p 12p Mark Photiades 31/02/2020 GB00B4QY1P51 Belvoir Group BUY 205p from 160p 161p Mark Photiades 23/01/2020 GB00B2PDGW16 WH Smith HOLD 2480p from 2150p 2520p Mark Photiades 17/01/2020 GB00BXB07J71 Gateley Holdings BUY 230p from 204p 208p Mark Photiades 16/01/2020 GB0006957293 Portmeirion BUY 910p 805p Mark Photiades 13/01/2020 GB00BMNQZP86 JD Sports BUY 925p from 765p 832p Mark Photiades 13/01/2020 GB00B60BD277 Superdry HOLD 450p from 550p 440p Mark Photiades 10/01/2020 GB00B1CKQ739 Dunelm BUY from HOLD 1265p from 875p 1107p Mark Photiades 10/01/2020 GB00BMNQZP86 JD Sports BUY 765p 827p Mark Photiades 10/01/2020 GB0031274896 Marks & Spencer SELL 167p 194p Mark Photiades 09/01/2020 GB0031274896 Marks & Spencer SELL 167p 221p Mark Photiades 08/01/2020 GB00B18P5K83 Topps Tiles HOLD 65p 76p Mark Photiades 07/01/2020 GB0032089863 Next HOLD 6350p from 5650p 6944p Mark Photiades 20/12/2019 GB00B60BD277 Superdry HOLD 550p from 455p 518p Mark Photiades 20/12/2019 GB00B05J4D26 United Carpets BUY 6.0p 5.3p Mark Photiades 17/12/2019 GB00B8B4R053 Studio Retail Group BUY 340p 234p Mark Photiades 17/07/2019 GB00B60BD277 Superdry HOLD 500p 424p Mark Photiades 12/12/2019 GB0001048619 Ted Baker HOLD 360p from 510p 365p Mark Photiades 29/11/2019 GB00B18P5K83 Topps Tiles HOLD 65p 72p Mark Photiades 26/11/2019 GB00BZC0LC10 Victoria BUY 650p 420p Mark Photiades 15/11/2019 GB0006957293 Portmeirion BUY from Under Review 910p from Under Review 695p Mark Photiades 14/11/2019 GB0006957293 Portmeirion Under Review from BUY Under Review from 1250p 850p Mark Photiades 12/11/2019 GB00BZC0LC10 Victoria BUY 650p 416p Mark Photiades 12/11/2019 GB0031274896 Marks & Spencer SELL 167p from 190p 188p Mark Photiades 17/07/2019 GB00B60BD277 Superdry HOLD 455p 424p Mark Photiades 06/11/2019 GB0031274896 Marks & Spencer SELL 190p 182p Mark Photiades 30/10/2019 GB0032089863 Next HOLD 5650p 6850p Mark Photiades 18/10/2019 GB0001048619 Ted Baker HOLD 510p from 900p 479p Mark Photiades 17/10/2019 GB00B2PDGW16 WH Smith HOLD 2150p 2088p Mark Photiades 17/10/2019 GB0030927254 ASOS HOLD 3220p from 2150p 3286p Mark Photiades 16/10/2019 GB0030927254 ASOS HOLD 2150p 2560p Mark Photiades 04/10/2019 GB00B18P5K83 Topps Tiles HOLD 65p from 70p 66p Mark Photiades 03/10/2019 GB0001048619 Ted Baker HOLD 900p 925p Mark Photiades 02/10/2019 GB00B18P5K83 Topps Tiles HOLD 70p 68.8p Mark Photiades 30/09/2019 GB00B058DS79 SpaceandPeople BUY 25p from 30p 14.0p Mark Photiades 27/07/2019 GB0006056104 Moss Bros HOLD 20.0p from 23.5p 18.3p Mark Photiades 24/09/2019 GB0006056104 Moss Bros HOLD 23.5p 19p Mark Photiades 11/09/2019 GB00BMNQZP86 JD Sports BUY 765p from 640p 688p Mark Photiades 10/09/2019 GB00BMNQZP86 JD Sports BUY 640p 633p Mark Photiades 04/09/2019 GB00B1CKQ739 Dunelm HOLD 875p 881p

#Classification: Internal Use Only Research department: Investment recommendations since 3rd July 2016 Current as of 23/06/2020 @08.26

Mark Photiades 04/09/2019 GB00B4QY1P51 Belvoir Group BUY 160p 116p Mark Photiades 03/09/2019 GB00BZC0LC10 Victoria BUY 650p 480p Mark Photiades 02/09/2019 GB0006957293 Portmeirion BUY 1250p 875p Mark Photiades 28/08/2019 GB00B2PDGW16 WH Smith HOLD 2235p 1993p Mark Photiades 22/08/2019 GB0000533728 Laura Ashley Under Review from BUY Under Review from 5.0p 1.8p Mark Photiades 07/08/2019 GB00BZC0LC10 Victoria BUY 650p 526p Mark Photiades 06/08/2019 GB00BZC0LC10 Victoria BUY 650p 525p Mark Photiades 01/08/2019 GB0006957293 Portmeirion BUY 1250p 990p Mark Photiades 01/08/2019 GB0032089863 Next HOLD 5650p from 5225p 6068p Mark Photiades 31/07/2019 GB0032089863 Next HOLD 5225p 5644p Mark Photiades 23/07/2019 GB00B05J4D26 United Carpets BUY 6.0p 5.4p Mark Photiades 22/07/2019 GB00BZC0LC10 Victoria BUY 650p 526p Mark Photiades 18/07/2019 GB00BXB07J71 Gateley Holdings BUY 204p 164p Mark Photiades 18/07/2019 GB00B1CKQ739 Dunelm HOLD 875p from 835p 877p Mark Photiades 17/07/2019 GB00B60BD277 Superdry HOLD 455p 431p Mark Photiades 16/07/2019 GB00BXB07J71 Gateley Holdings BUY 204p 164p Mark Photiades 15/07/2019 GB0006957293 Portmeirion BUY 1250p from 1100p 980p Mark Photiades 11/07/2019 GB00BZC0LC10 Victoria BUY 650p 490p Mark Photiades 10/07/2019 GB00B1CKQ739 Dunelm HOLD 835p 887p Mark Photiades 03/07/2019 GB00BMNQZP86 JD Sports BUY 640p 602p Mark Photiades 03/07/2019 GB00B18P5K83 Topps Tiles HOLD 70p 67p Mark Photiades 27/06/2019 GB00BZC0LC10 Victoria BUY 650p 490p Mark Photiades 21/06/2019 GB0001048619 Ted Baker HOLD from Under Review 900p from Under Review 826p Mark Photiades 21/06/2019 GB0031274896 Marks & Spencer SELL 190p from 265p 212p Mark Photiades 18/06/2019 GB00B8B4R053 Findel BUY 340p 260p Mark Photiades 11/06/2019 GB0001048619 Ted Baker Under Review from BUY Under Review from 1900p 1346p Mark Photiades 05/06/2019 GB00B8B4R053 Findel BUY 340p 193p Mark Photiades 23/05/2019 GB00BXB07J71 Gateley Holdings BUY 204p 149p Mark Photiades 22/05/2019 GB0031274896 Marks & Spencer SELL 265p 271p Mark Photiades 21/05/2019 GB00B18P5K83 Topps Tiles HOLD 70p 78p Mark Photiades 21/05/2019 GB00B2PDGW16 WH Smith HOLD 2235p 2028p Mark Photiades 16/05/2019 GB00B4QY1P51 Belvoir Lettings BUY 160p 118p Mark Photiades 15/05/2019 GB0006056104 Moss Bros HOLD 23.5p 23.5p Mark Photiades 14/05/2019 GB0006957293 Portmeirion BUY 1100p from Under Review 935p Mark Photiades 14/05/2019 GB0006957293 Portmeirion BUY Under Review from 130p 1215p Mark Photiades 07/05/2019 GB00BZC0LC10 Victoria BUY 650p 521p Mark Photiades 01/05/2019 GB0032089863 Next HOLD 5225p 5766p Mark Photiades 30/04/2019 GB00BZC0LC10 Victoria BUY 650p 490p Mark Photiades 17/04/2019 GB00BMNQZP86 JD Sports BUY 640p from 555p 577p Mark Photiades 12/04/2019 GB00B1CKQ739 Dunelm HOLD 835p from 725p 890p Mark Photiades 12/04/2019 GB00B2PDGW16 WH Smith HOLD 2235p from 2120p 2186p Mark Photiades 11/04/2019 GB0030927254 ASOS HOLD 3100p from 2500p 3397p Mark Photiades 10/04/2019 GB00B4QY1P51 Belvoir Lettings BUY 160p 110p Mark Photiades 03/04/2019 GB00B18P5K83 Topps Tiles HOLD 70p 74p Mark Photiades 02/04/2019 GB00B4QY1P51 Belvoir Lettings BUY 160p 101p Mark Photiades 29/03/2019 GB0006056104 Moss Bros HOLD 23.5p from 28p 21.7p Mark Photiades 26/03/2019 GB0006056104 Moss Bros HOLD 28p 23.9p Mark Photiades 26/03/2019 GB0001048619 Ted Baker BUY 1900p from 2030p 1611p Mark Photiades 25/03/2019 GB00B058DS79 SpaceandPeople BUY 30p 14.5p Mark Photiades 21/03/2019 GB0006957293 Portmeirion BUY 1300p from 1250p 1037p Mark Photiades 19/03/2019 GB00BF8H6F45 Bonmarché BUY 50p from 65p 37p Mark Photiades 08/03/2019 GB0001048619 Ted Baker BUY 2030p from 2075p 1837p Mark Photiades 07/03/2019 GB00B05J4D26 United Carpets BUY 6.0p from 8.7p 5.0p Mark Photiades 20/02/2019 GB0000533728 Laura Ashley BUY 5.0p from 8.25p 3.3p Mark Photiades 18/02/2019 GB00BZC0LC10 Victoria BUY 650p from 750p 432p Mark Photiades 14/02/2019 GB00B1CKQ739 Dunelm HOLD 725p from 525p 740p Mark Photiades 13/02/2019 GB00B1CKQ739 Dunelm HOLD 525p 717p Mark Photiades 11/02/2019 GB00BZC0LC10 Victoria BUY 750p 445p Mark Photiades 07/02/2019 GB00B60BD277 Superdry HOLD 455p 508p Mark Photiades 06/02/2019 GB00B8B4R053 Findel BUY 340p 186p Mark Photiades 31/01/2019 GB00B4QY1P51 Belvoir Lettings BUY 160p 91p Mark Photiades 30/01/2019 GB00B058DS79 SpaceandPeople BUY 30p 16p Mark Photiades 29/01/2019 GB00B058DS79 SpaceandPeople BUY 30p from 43p 17p Mark Photiades 29/01/2019 GB00BZC0LC10 Victoria BUY 750p 415p Mark Photiades 25/01/2019 GB00BF8H6F45 Bonmarché BUY 65p 37p Mark Photiades 17/01/2019 GB0006957293 Portmeirion BUY 1250p 1000p Mark Photiades 15/01/2019 GB00BMNQZP86 JD Sports BUY 555p 421p Mark Photiades 14/01/2019 GB00BMNQZP86 JD Sports BUY 555p 396p Mark Photiades 14/01/2019 GB0006056104 Moss Bros HOLD 28p from 40p 27p Mark Photiades 14/01/2019 GB0032089863 Next HOLD 5225p from 5500p 4757p Mark Photiades 10/01/2019 GB00B4QY1P51 Belvoir Lettings BUY 160p 91.5p Mark Photiades 10/01/2019 GB0031274896 Marks & Spencer SELL 265p 278p Mark Photiades 09/01/2019 GB0001048619 Ted Baker BUY 2075p 1579p Mark Photiades 09/01/2019 GB00B18P5K83 Topps Tiles HOLD 70p 64p Rob Byde 17/06/2020 GB00BF6P5V92 Xpediator BUY 40p 26p Rob Byde 17/06/2020 GB0009290080 Wincanton BUY 300p 185p Rob Byde 08/06/2020 GB0002892528 Surface Transforms BUY 40p 16.25p Rob Byde 05/06/2020 GB00BF6P5V92 Xpediator BUY Under Review 26.5p Rob Byde 05/06/2020 GB00B03HDJ73 Stobart Group BUY Under Review 69.2p Rob Byde 04/06/2020 GB000267504 Dewhurst Under Review Under Review 875p Rob Byde 22/05/2020 GB0002892528 Surface Transforms BUY 40p 14.5p Rob Byde 15/05/2020 GB0009290080 Ocean Wilsons BUY 1300p 625p Rob Byde 29/04/2020 GB0031410581 Image Scan HOLD 3.5p 2.5p Rob Byde 22/04/2020 GB00B9GQVG73 AB Dynamics BUY Under Review from £32 £15.00 Rob Byde 20/04/2020 GB00BF6P5V92 Xpediator BUY 40p 28p Rob Byde 06/04/2020 GB00B03HDJ73 Stobart Group BUY Under Review from 170p 46p Rob Byde 06/04/2020 JE00BN574F90 Wizz Air HOLD Under Review from 4700p 2328p Rob Byde 31/03/2020 GB000267504 Dewhurst HOLD 1,050p 1115p Rob Byde 31/03/2020 GB00BF6P5V92 Xpediator BUY 40p 25p Rob Byde 26/03/2020 GB0009290080 Ocean Wilsons BUY Under Review from 1300p 700p Rob Byde 26/03/2020 BRWSONBDR009 Wilson Sons BUY Under Review BRL29 Rob Byde 19/03/2020 GB00B9GQVG73 AB Dynamics BUY Under Review from £32 £8.82 Rob Byde 17/03/2020 GB00B03HDJ73 Stobart Group BUY 170p 38.5p Rob Byde 16/03/2020 GB00B7KR2P84 easyJet HOLD from BUY Under Review from 1500p £7.86 Rob Byde 16/03/2020 IE00BYTBXV33 Ryanair BUY € 14 € 10.50 Rob Byde 13/03/2020 GB0009290080 Ocean Wilsons BUY 1300p 750p

#Classification: Internal Use Only Research department: Investment recommendations since 3rd July 2016 Current as of 23/06/2020 @08.26

Rob Byde 13/03/2020 BRWSONBDR009 Wilson Sons BUY Under Review from BRL44 BRL49.48 Rob Byde 11/03/2020 IE00BYTBXV33 Ryanair BUY from HOLD €14 from €16 € 11.50 Rob Byde 05/03/2020 GB00B03HDJ73 Stobart Group BUY 170p 82p Rob Byde 04/03/2020 GB00BF6P5V92 Xpediator BUY 40p 25p Rob Byde 28/02/2020 GB0007370074 Ricardo BUY 730p from 750p 662p Rob Byde 28/02/2020 GB00B9GQVG73 AB Dynamics BUY £32 £15.30 Rob Byde 28/02/2020 GB0002892528 Surface Transforms BUY 40p 26p Rob Byde 28/02/2020 GB00B03HDJ73 Stobart Group BUY 170p 111p Rob Byde 28/02/2020 IE00BYTBXV33 Ryanair HOLD € 16 € 12.27 Rob Byde 28/02/2020 GB00B7KR2P84 easyJet BUY £15 £10.92 Rob Byde 28/02/2020 JE00BN574F90 Wizz Air HOLD 4700p 3384p Rob Byde 27/02/2020 GB00B9GQVG73 AB Dynamics BUY £32 £17.35 Rob Byde 25/02/2020 GB0007370074 Ricardo BUY 750p 760p Rob Byde 20/02/2020 JE00BN574F90 Wizz Air HOLD 4700p from 4500p 4462p Rob Byde 10/02/2020 GB00BF6P5V92 Xpediator BUY 40p 28p Rob Byde 10/02/2020 GB00BMMV6B79 Clipper Logistics HOLD Under Review 268p Rob Byde 10/02/2020 GB00BDVZYZ77 Royal Mail HOLD Under Review 179p Rob Byde 10/02/2020 GB0009290080 Wincanton BUY 350p 287p Rob Byde 06/02/2020 GB0031410581 Image Scan HOLD 3.5p 1.95p Rob Byde 06/02/2020 GB00BDVZYZ77 Royal Mail HOLD Under Review from 240p 190p Rob Byde 06/02/2020 GB00BF6P5V92 Xpediator BUY 40p 29p Rob Byde 06/02/2020 GB0009290080 Wincanton BUY 350p 286p Rob Byde 04/02/2020 IE00BYTBXV33 Ryanair HOLD €16 from €14 € 15.50 Rob Byde 04/02/2020 GB00B7KR2P84 easyJet BUY £15 £14.68 Rob Byde 04/02/2020 JE00BN574F90 Wizz Air HOLD 4500p 4160p Rob Byde 03/02/2020 GB0009290080 Ocean Wilsons BUY 1300p 1015p Rob Byde 03/02/2020 BRWSONBDR009 Wilson Sons BUY Under Review from BRL44 BRL49.48 Rob Byde 21/01/2020 GB00B7KR2P84 easyJet BUY £15 £14.50 Rob Byde 20/01/2020 GB00B7KR2P84 easyJet BUY £15 £14.77 Rob Byde 20/01/2020 IE00BYTBXV33 Ryanair BUY € 14 € 15.68 Rob Byde 16/01/2020 GB00B03HDJ73 Stobart Group BUY 170p 111p Rob Byde 16/01/2020 GB00BF6P5V92 Xpediator BUY 40p 31p Rob Byde 16/01/2020 GB0009290080 Wincanton BUY 350p 305p Rob Byde 16/01/2020 GB00BMMV6B79 Clipper Logistics HOLD Under Review from 240p 279p Rob Byde 10/01/2020 GB0002892528 Surface Transforms BUY 40p 22.5p Rob Byde 17/12/2019 IE00BYTBXV33 Ryanair HOLD from BUY € 14 € 13.84 Rob Byde 17/12/2019 JE00BN574F90 Wizz Air HOLD 4500p 4021p Rob Byde 11/12/2019 GB00BD7V5D43 Kromek BUY 45p 17.3p Rob Byde 10/12/2019 GB0007370074 Ricardo BUY 750p 710p Rob Byde 27/11/2019 GB00B9GQVG73 AB Dynamics BUY £32 £27.75 Rob Byde 21/11/2019 GB00B7KR2P84 easyJet BUY £15 £13.40 Rob Byde 19/11/2019 GB00B7KR2P84 easyJet BUY £15 £12.80 Rob Byde 18/11/2019 GB00B7KR2P84 easyJet BUY £15 £12.99 Rob Byde 18/11/2019 IE00BYTBXV33 Ryanair BUY € 14 € 13.84 Rob Byde 14/11/2019 GB00B03HDJ73 Stobart Group BUY 170p 123p Rob Byde 13/11/2019 GB0009290080 Wincanton BUY 350p 245p Rob Byde 13/11/2019 GB00BF6P5V92 Xpediator BUY 40p 31p Rob Byde 13/11/2019 GB0009290080 Ocean Wilsons BUY 1300p 870p Rob Byde 13/11/2019 BRWSONBDR009 Wilson Sons BUY BRL44 BRL35.96 Rob Byde 05/11/2019 GB0007370074 Ricardo BUY 750p 636p Rob Byde 04/11/2019 IE00BYTBXV33 Ryanair BUY € 14 € 12.30 Rob Byde 04/11/2019 GB00BF6P5V92 Xpediator BUY 40p 23p Rob Byde 01/11/2019 GB00B03HDJ73 Stobart Group BUY 170p 118p Rob Byde 21/10/2019 GB0031410581 Image Scan HOLD 1p 1p Rob Byde 16/10/2019 GB00B03HDJ73 Stobart Group BUY 170p 126p Rob Byde 09/10/2019 GB00BMMV6B79 Clipper Logistics HOLD 240p from 330p 208p Rob Byde 08/10/2019 GB00B7KR2P84 easyJet BUY £15 £11.72 Rob Byde 07/10/2019 GB00BF6P5V92 Xpediator BUY from HOLD 40p 23.8p Rob Byde 02/10/2019 GB00B9GQVG73 AB Dynamics BUY £32 £21.70 Rob Byde 26/09/2019 GB0002892528 Surface Transforms BUY 40p from 35p 23.5p Rob Byde 26/09/2019 GB00BF6P5V92 Xpediator HOLD Under Review 26p Rob Byde 25/09/2019 GB00B03HDJ73 Stobart Group BUY 170p from 270p 129p Rob Byde 10/09/2019 GB0009290080 Ocean Wilsons BUY 1300p 890p Rob Byde 10/09/2019 BRWSONBDR009 Wilson Sons BUY BRL44 BRL35.35 Rob Byde 09/09/2019 GB0002892528 Surface Transforms BUY 35p 19.5p Rob Byde 06/09/2019 GB00BF6P5V92 Xpediator HOLD Under Review 23.5p Rob Byde 04/09/2019 GB00B9GQVG73 AB Dynamics BUY £32 from £30 £27.80 Rob Byde 02/09/2019 GB00B9GQVG73 AB Dynamics BUY £30 £27.40 Rob Byde 16/08/2019 GB0009290080 Ocean Wilsons BUY 1300p from 1500p 980p Rob Byde 16/08/2019 BRWSONBDR009 Wilson Sons BUY BRL44 from Under Review BRL34.25 Rob Byde 14/08/2019 GB0009290080 Ocean Wilsons BUY Under Review from 1500p 1065p Rob Byde 14/08/2019 BRWSONBDR009 Wilson Sons BUY Under Review from BRL48 BRL34.25 Rob Byde 01/08/2019 GB00B03HDJ73 Stobart Group BUY 270p 118p Rob Byde 30/07/2019 GB00BF6P5V92 Xpediator HOLD from BUY Under Review from 90p 50.5p Rob Byde 29/07/2019 IE00BYTBXV33 Ryanair BUY € 14 € 10.3 Rob Byde 18/07/2019 GB00B7KR2P84 easyJet BUY £15 £11.30 Rob Byde 17/07/2019 IE00BYTBXV33 Ryanair BUY € 14 € 10.4 Rob Byde 16/07/2019 GB0002892528 Surface Transforms BUY 35p from 25p 19.5p Rob Byde 12/07/2019 GB00BD7V5D43 Kromek BUY 45p 24.5p Rob Byde 10/07/2019 GB0000600931 Braemar Shipping Services HOLD from BUY 200p from U/R 180p Rob Byde 04/07/2019 GB00B9GQVG73 AB Dynamics BUY £30 £25.60 Rob Byde 01/07/2019 GB00B9GQVG73 AB Dynamics BUY £30 from £28 £25.70 Rob Byde 28/06/2019 GB0002892528 Surface Transforms BUY from HOLD 25p from Under Review 13.5p Rob Byde 26/06/2019 GB0031410581 Image Scan HOLD from BUY Under Review from 5.5p 1.35p Rob Byde 19/06/2019 GB00BD736828 Air Partner HOLD 105p from 115p 92p Rob Byde 19/06/2019 GB00B7KR2P84 easyJet BUY £15 £9.01 Rob Byde 10/06/2019 GB00B9GQVG73 AB Dynamics BUY £28 from £22 £25.20 Rob Byde 07/06/2019 GB00B1XFKR57 Pressure Technologies HOLD from BUY Under Review from 180p 101.5p Rob Byde 06/06/2019 GB00BF6P5V92 Xpediator BUY 90p 45p Rob Byde 29/05/2019 GB00B03HDJ73 Stobart Group BUY 270p 118p Rob Byde 28/05/2019 GB00B1XFKR57 Pressure Technologies BUY 180p 98.5p Rob Byde 24/05/2019 GB00BDVZYZ77 Royal Mail HOLD 240p from 350p 205p Rob Byde 24/05/2019 IE00BYTBXV33 Ryanair BUY € 14 € 10.00 Rob Byde 21/05/2019 GB00B7KR2P84 easyJet BUY £15 £10.00 Rob Byde 20/05/2019 IE00BYTBXV33 Ryanair BUY € 14 € 10.8 Rob Byde 17/05/2019 GB00B7KR2P84 easyJet BUY £15 £9.73

#Classification: Internal Use Only Research department: Investment recommendations since 3rd July 2016 Current as of 23/06/2020 @08.26

Rob Byde 17/05/2019 GB0009290080 Wincanton BUY 350p from 330p 260p Rob Byde 15/05/2019 GB0009290080 Ocean Wilsons BUY 1500p 1070p Rob Byde 15/05/2019 BRWSONBDR009 Wilson Sons BUY BRL48 BRL38 Rob Byde 09/05/2019 GB00BD7V5D43 Kromek BUY 45p 26.5p Rob Byde 07/05/2019 GB0002892528 Surface Transforms HOLD from BUY Under Review from 25p 13p Rob Byde 03/05/2019 GB00B03HDJ73 Stobart Group BUY 270p 149p Rob Byde 29/04/2019 GB00BF6P5V92 Xpediator BUY 90p 46p Rob Byde 24/04/2019 GB00B9GQVG73 AB Dynamics BUY £22 from £18 £19.10 Rob Byde 09/04/2019 GB0009290080 Ocean Wilsons BUY 1500p from 1600p 1140p Rob Byde 09/04/2019 BRWSONBDR009 Wilson Sons BUY BRL48 from BRL50 BRL39.25 Rob Byde 03/04/2019 GB0009290080 Wincanton BUY 330p 232p Rob Byde 27/03/2019 GB00B9GQVG73 AB Dynamics BUY £18 £15.80 Rob Byde 15/03/2019 GB0009290080 Ocean Wilsons BUY 1600p 1180p Rob Byde 15/03/2019 BRWSONBDR009 Wilson Sons BUY BRL50 BRL38.49 Rob Byde 13/03/2019 GB00B03HDJ73 Stobart Group BUY 270p 159p Rob Byde 04/03/2019 GB00BF6P5V92 Xpediator BUY 90p 42p Rob Byde 27/02/2019 GB0031410581 Image Scan BUY 5.50p 2.30p Rob Byde 26/02/2019 GB0002892528 Surface Transforms BUY from HOLD 25p from Under Review 16.5p Rob Byde 18/02/2019 GB00BF6P5V92 Xpediator BUY 90p 46p Rob Byde 06/02/2019 IE00BYTBXV33 Ryanair BUY from HOLD € 14 € 11.30 Rob Byde 29/01/2019 GB00BDVZYZ77 Royal Mail HOLD 350p 300p Rob Byde 28/01/2019 GB00BD7V5D43 Kromek BUY 45p 28p Rob Byde 24/01/2019 GB00B3ZP1526 Gama Aviation HOLD Under Review 115p Rob Byde 22/01/2019 GB00B7KR2P84 easyJet BUY £15 £11.80 Rob Byde 17/01/2019 GB00BF6P5V92 Xpediator BUY 90p 53p Rob Byde 14/01/2019 GB00BD7V5D43 Kromek BUY 45p 27.5p Rob Byde 04/01/2019 GB00B7KR2P84 easyJet BUY 1500p 1117p Rob Byde 04/01/2019 GB00B1XFKR57 Pressure Technologies BUY 180p 95p Rob Byde 04/01/2019 GB00BF6P5V92 Xpediator BUY 90p 43p Rob Byde 02/01/2019 GB00B03HDJ73 Stobart Group BUY 270p 144p

*Please note that this company is not under research coverage

Market price The market price shown above is the

*Please note that this company is not under research coverage 1 MARRecommendations defines and target price investment recommendat ions as being " A BUY recommendat ion means we A SELL recommendat A HOLD recommendat

2 TheMarket market price Disclosuresprice is the of 3 Disclosuresinterest of interests are A This research report has been sent to the issuer and it has been amended B Recommendation differs from previous recommendation made during preceding 12 months in relation to the same financial instrument. C The author(s) of this publication has a net long position of more than 0.5% in the issued share capital of the named company. D The author of this publication has a net short position of 0.5% or more in the issued share capital of the named company. E Cantor Fitzgerald Europe owns a net long position exceeding 0.5% of the total issued share capital of the named company. F Cantor Fitzgerald Europe owns a net short position exceeding 0.5% of the total issued share capital of the named company G The named company holds in excess of 5% of the total issued share capital of Cantor Fitzgerald Europe. H Cantor Fitzgerald Europe or one its affiliates is a market maker or liquidity provider in the securities of the relevant issuer I Cantor Fitzgerald Europe, or one of its affiliates, has been a lead manager or co-lead manager over the previous 12 months in a publicly disclosed offer of financial instruments of the named company J Cantor Fitzgerald Europe, or one of its affiliates, is party to an agreement with the named company relating to the provision of services of investment firms, and this agreement has been in effect over the past 12 months or has given rise during the same period to the obligation to pay or receive compensation K Cantor Fitzgerald Europe, or one of its affiliates, is party to an agreement with the named company relating to the production of this recommendation.

#Classification: Internal Use Only