YOU HAVE CHOICES TO MAKE

2017 SAYE PLAN (SHARESAVE) MATURITY

1 JANUARY 2020

THIS IS BAILEY

DEAR COLLEAGUE,

Sharesave Maturity 2020

I am pleased to confirm that your CVS Group plc SAYE Plan (Sharesave) will mature 1 January 2020 (assuming that all payments have been received by YBS Share Plans*).

In this brochure you will find everything you need to know, the choices available to you and how to provide your instruction to YBS Share Plans.

You don’t have to make your choice(s) straight away however; you will have six months from the Maturity Date after which time your Option to purchase shares at the fixed Exercise Price will lapse.

It is your responsibility to monitor the price of CVS Group plc (CVS) shares before deciding whether or not to purchase any, but at the time of producing this document, the share price as quoted on the London Stock Exchange was higher than the fixed Exercise Price of £7.90.

There is no guarantee that this will still be the case by the time you exercise your Options.

Please note that YBS Share Plans will not be able to advise you on the best course of action for you. If you are unsure about purchasing shares or your tax position, you should consult an Independent Financial Adviser.

* If you have missed any payments your maturity will be delayed by 1 month for every payment missed.

Your Fixed Exercise Price

£7.90

You have 3 choices......for up to six months...

1Purchase & Keep

Purchase the shares available at the fixed

Exercise Price and KEEP all or some of them

and receive a share certificate

2Purchase & Sell

Purchase the shares available at the fixed

Exercise Price and SELL all or some of them

via the share dealing service being offered

by Jarvis

3Not Purchase SharesChoose not to purchase shares and receive

a refund of funds by bank transfer

No problem. Just confirm the number of shares you want to keep and the number you want to sell when making your choices online.

WANT TO KEEP SOME OF YOUR SHARES AND SELL THE REST?

REMEMBER!

You have 3 choices...

You don’t have to make up your mind straight away; you are able to purchase shares at the fixed Exercise Price for up to six months following the Maturity Date shown on your account online. Please note however that you will need to allow sufficient time for the processing of your instructions before your Option lapses and therefore it is recommended that you submit your instructions no later than 21 days prior to the Option Lapse Date which is also shown on your account online.

Please note that if you decide to exercise your Option and purchase the shares, that the value of your shares and any income from them can go down as well as up and that you may not recover the amount of your original investment. Past performance is no indication of future performance. It is recommended that you monitor the price of CVS Group plc shares regularly before deciding whether or not to purchase shares at the fixed Exercise Price.

Purchase the shares available at the fixed Exercise Price and KEEP all or some of them and receive a share certificate

Purchase & Keep

If you select this choice, you will be using the savings in your Sharesave account to purchase the CVS Group plc shares to which you are entitled, and to keep them in the form of a share certificate; this is otherwise known as ‘exercising your Option’.

When your share certificate arrives you have the choice to either hold on to the shares or to sell the shares. You’re able to use any broker of your choosing to sell the shares but details of the Jarvis ‘Dial and Deal’ service (for the sale of certificated shares) follow later in this document for your convenience.

If you retain the shares, as a shareholder of CVS you’ll be entitled to receive dividends (if and when they are paid) and have the chance to vote on important issues at General Meetings.

The exercise of share Options is an involved process and therefore it may take a little time for YBS Share Plans to complete this process with CVS and their share registrars. YBS Share Plans cannot be held responsible for any adverse movements in the share price during this period. Once the share Option exercise process is complete CVS registrars will issue you with a share certificate in your name. Please allow up to 30 days from the completion of the exercise process for receipt your share certificate.

1

Purchase the shares available at the fixed Exercise Price and SELL all or some of them via the share dealing service being offered by Jarvis

Purchase & Sell

If you select this choice, you will be using the savings in your Sharesave account to purchase and sell all or some of the CVS Group plc shares to which you are entitled, using the share dealing service being offered by Jarvis Share Dealing Services (‘Jarvis’).

Jarvis will charge you a flat fee of £20.00 for the sale of your shares of which YBS Share Plans will receive a £12.10 share to cover their administration costs and this will be deducted from your sale proceeds before the balance is paid directly into the bank account you specify online; Jarvis do not offer cheque settlement.

If you decide to sell shares using this service you can set a ‘Limit Price’, which is a minimum price below which Jarvis will not sell your shares. This does not mean that your shares will be sold at this price; Jarvis will sell at the maximum price(s) prevailing at the time the sale is placed in the market. Your limit order will be held for 10 business days. If Jarvis cannot sell your shares at or above your Limit Price within this time period, your limit order will be cancelled and you will receive a share certificate for the unsold shares approximately 14 calendar days later. Please refer to section 8 of the Jarvis SAYE Sale Facility Terms and Conditions for further details. Please take the time to read this document before proceeding with this choice.

2

If you would prefer to sell your shares via another broker of your own choosing please follow the instructions under Choice 1 and make your own arrangements to sell your shares on receipt of your share certificate.

Jarvis ‘Dial and Deal’If you want to purchase and keep your shares (see choice 1) with a view to selling them at a later date, you can do so by making your own private arrangements with Jarvis (or any other broker of your choosing) on receipt of your share certificate. If you would like to take advantage of the servic-es provided by Jarvis you can call them directly on 01892 700 849 and set up a Dial & Deal Account. Jarvis will charge you a flat fee of £27.50 for this service.

When will I receive the funds from the sale of my shares?This all depends on the date you provide your instructions to YBS Share Plans – the sooner you provide your instructions the sooner you should receive your funds.

The table left clarifies when YBS Share Plans need to receive your instructions for the first three weekly batches, when your Sharesave account will be closed and when the sale of your shares is scheduled to take place.

The first sale of shares following maturity is scheduled to take place on 2 January 2020 and you will need to provide your instructions to YBS Share Plans no later than 19 December 2019 to be included in this batch. Sales will be batched weekly for six months, the first three are shown left for illustration.

IMPORTANT DATES

Batch

Future batches will continue weekly after Batch 3 for the remainder of the 6 month exercise period.

The proceeds from the sale of your shares should be in your bank account within 10-14 business days from

the date that the shares are sold.

Please note all dates are subject to change. YBS Share Plans cannot be held responsible for any changes to

advertised dates which are outside their control nor any resulting loss.

Deadline for receipt of keep or sell

instructions at YBS Share Plans

YBS Share Plans close your Share-

save account and transfers the

balance to CVS to cover the cost of

shares

Date shares are expected to be

sold by Jarvis (“Dealing Date”).

(‘Choice 2’ only)

1 19 December 2019 2 January 2020 9 January 2020

2 27 December 2019 7 January 2020 16 January 2020

3 5 January 2020 14 January 2020 23 January 2020

Purchase & Sell

Choose not to purchase shares and receive a refund of funds by bank transfer

Not Purchase Shares

You don’t have to purchase CVS Group plc shares. If you prefer, you can simply take back your sav-ings.

If YBS Share Plans have bank details registered against your Sharesave account your savings will be returned to you by bank transfer. If we don’t have a record of your bank details, you’ll be asked to provide these when you provide your closure instruction online.

For this choice only, call the YBS Share Plans helpline on 0345 1 200 300 and close your account over the phone.

If you choose to close your account and take back your savings, you still retain the right to purchase shares at the fixed Exercise Price during the 6 months immediately following your Maturity Date.

If you decide to follow this course of action you’ll need to call the YBS Share Plans helpline to make the necessary arrangements.

3

If you change your mind after you’ve submitted your instructions,

you can resubmit a new instruction online. Any change to your original

instruction is likely to delay the date on which your instructions can be

processed and will therefore delay receipt of your funds or shares.

Made up your mind?

You now need to provide your maturity instructions using the secure online facility provided by YBS Share Plans by visiting www.ybsshareplans.co.uk/cvs.

You will need to register to view your account online before you are able to provide your instructions (unless you have previously registered).

To register, you will need your Sharesave account number to hand and will be asked to provide some security information. Registration will only take a few minutes of your time. Once registered your login details will be sent to you through the post and you will then be able to provide your instructions.

BEFORE YOU LOG IN AND SUBMIT YOUR INSTRUCTIONS please ensure you have read all of the information relating to your choices on the previous pages.

Once logged in...1. Select the maturing account in the Account View section

2. Click on Closure Options

3. Make your choice and follow the onscreen instructions

You will receive email confirmation once you have successfully submitted your instructions.

Residual Balance - Charity DonationIf you decide to exercise your Option to

purchase the shares there will often be a cash

residue remaining in your Sharesave account.

This is because it’s very unlikely that your sav-

ings will divide exactly by the fixed Exercise

Price. You can choose to donate your cash

residue to charity when providing

your instructions.

If you would like to donate this money to

charity (Yorkshire Building Society’s Charitable

Foundation), please tick the appropriate box

when providing your instruction online.

To find out more about the work of the

Charitable Foundation, visit

www.ybs.co.uk/societymatters/index

Dealing RestrictionsIf you have been notified by CVS that you are

subject to its employee share dealing rules,

you must comply with the requirements of

those rules and seek clearance in accordance

with the rules before proceeding with any

transaction. All staff will be subject to the

general law regarding insider dealing e.g.

dealing when in possession of inside

information.

Important Information

Missed any payments or leaving CVS?If you have missed any payments during the

savings period (up to a maximum of 12) your

Maturity Date will be deferred by one month

for every payment that you have missed and

you will continue to have deductions taken

from your pay until you have completed the

three year savings contract. In these circum-

stances you will have six months from the

deferred Maturity Date (shown on your

account online), in which to exercise your

Option and purchase your shares.

Any instructions received in respect of a

deferred maturity will be processed at the

first available opportunity following your de-

ferred Maturity Date.

If you are no longer an employee of CVS or

leave after the Maturity Date but before you

have provided your maturity instructions, you

may not be able to purchase the shares. This

will depend on your reason for leaving and

the date on which you left.

If you are in any doubt about whether you can

purchase any shares please contact the YBS

Share Plans Helpline on 0345 1 200 300.

If you are able to purchase shares, you must

do so within 6 months of leaving CVS or with-

in 6 months of the Maturity Date, whichever

event comes first.

What about tax?Under current legislation there is no Income Tax to pay as a result of purchasing your shares or taking your

savings. You may however have to pay Capital Gains Tax (CGT) if you sell your shares at a profit (this is the dif-

ference between the cost of purchasing your shares and the price you sell them for minus any sale expenses).

HM Revenue & Customs currently allows you to make a certain level of capital gains in each tax year without

being taxed. If your gain (which must include any other gains you have made within the tax year) exceeds the

annual exemption limit, you will have to pay tax on any gain above this limit.

The CGT limit for the 2019/2020 tax year is £12,000. Further information can be found on the HM Revenue &

Customs website (www.hmrc.gov.uk).

If your total capital gains exceed the annual exemption amount in any single tax year, they should be report-

ed to HM Revenue & Customs, whether you receive a tax return or not. You may however be able to minimise

your liability to CGT by; selling some of your shares in one tax year and the rest in other tax years, by giving

some of your shares to your spouse or civil partner for them to sell and set against their annual CGT exemp-

tion, or by transferring shares into a Stocks and Shares ISA (subject to applicable limits) within 90 days of the

date your share Option was exercised.

What about tax?

The sale of shares within an ISA is free of CGT. For the 2019/20

tax year the maximum value of shares you can transfer into a

Stock and Shares ISA is £20,000 (this limit may change in

future years). The value of the shares will be based on the

market value on the date the shares are transferred into the ISA.

If you’d like to follow any of the courses of action described

above then please note you’ll have to choose to receive a

share certificate (Choice 1) and make your own private

arrangements on receipt. If you want to transfer your shares to

a Stocks and Shares ISA you’ll need a Letter of Appropriation

from YBS Share Plans to confirm the shares are being

transferred from a Sharesave within the 90 day period

permitted. You’ll need to forward this to your chosen ISA

provider together with your share certificate.

If you like any further help with these options, please call the

YBS Share Plan Helpline on

0345 1 200 300.

General Information

No information contained within this

document or any accompanying document

should be taken as providing any advice or as

a recommendation to exercise or not to

exercise your Option or, having exercised, to

sell or not to sell your shares – the choice is

yours. Neither CVS, YBS Share Plans or Jarvis

can advise you on the best course of action

for you in your particular circumstances.

Tax rules and legislation can change. Tax relief

rules, which are referred to in this document

on page 8, are those enforced in the current

tax year (2019/20) and their application will

depend upon your individual circumstances.

If you are in any doubt as to the legal,

financial or taxation implications (including

any Capital Gains Tax considerations and the

collection of such taxes) for you relating to

the exercise of Options, and/or the subse-

quent sale of shares, or the suitability of the

maturity share dealing service, you should

seek the advice of a qualified Independent

Financial Adviser duly authorised under the

Financial Services and Markets Act 2000.

Please remember that the price of shares,

and the income from them, can go down as

well as up, and that you may not recover the

amount originally invested. It is advisable to

keep copies of all documentation sent to YBS

Share Plans and CVS in relation to the exercise

of your Option as you may need to refer to

this information when completing future tax

returns.

This Scheme may use shares in the CVS Group

Employee Benefit Trust (EBT) run by RBC,

St Helier, Jersey. Yours details may be shared

with RBC for the purpose of share transac-

tions and dealings.

Contact Details

The CVS Group plc Sharesave is administered by YBS Share Plans. If you have any queries

about your Sharesave account, you may contact them at:

YBS Share Plans,

Yorkshire Building Society,

Yorkshire House,

Yorkshire Drive,

Bradford,

BD5 8LJ

Or by calling the YBS Share Plan Helpline on 0345 1 200 300

Lines open 8.30am-5.30pm Mon-Fri, 9am-1pm Sat excluding public holidays in England & Wales

If you have any queries about the sale of your shares or the services offered by Jarvis, you can

contact them directly at:

Jarvis Investment Management Limited,

78 Mount Ephraim,

Tunbridge Wells,

Kent,

TN4 8BS

Email deal@Jarvisim.co.uk or by call 01892 700841

Lines are open Monday to Friday 8am - 4:30pm. Calls may be recorded for training and security purposes

Jarvis Investment management Ltd is a member of the London Stock Exchange and NEX Exchange and is

authorised and is regulated by the Financial Conduct Authority

Registered Office: 78 Mount Ephraim Tunbridge Wells Kent TN4 8BS Registered No. 1844601 England

Registered VAT No. 680 0400 74

YBS SHARE PLANS JARVIS

YBS Share Plans is part of Yorkshire Building Society. YBS Share Plans, Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ,

Tel: 0345 1 200 300 Fax: 01274 357 950. ybsshareplans.co.uk

Yorkshire Building Society provides share plan trustee and administration services, including deposit taking, in the UK and subject to English law and

regulation. We are not responsible for share plan deposits held by local savings carriers outside the UK. Yorkshire Building Society is a member of the

Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the

Prudential Regulation Authority.

Yorkshire Building Society is entered in the Financial Services Register and its registration number is 106085. Head Office: Yorkshire House,

Yorkshire Drive, Bradford, BD5 8LJ.

All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security.

Calls to 03 numbers are charged at the same standard network rate as 01 or 02 landline numbers, even when calling from a mobile.