Upgrade timing and discretionary spend

Priya, A brief note, so that you hear it from me. Following the recent rate rises, we have frozen discretionary spend across the business. The upgrade we discussed falls into that category. I am therefore putting it on hold until year end. This is no comment on the brain or on your team. It is a question of timing and of what I can take to the board at present. Regards, Richard Thorne Chief Operating Officer, Fenmoor Specialty Underwriting

Dear Richard, Thank you for telling me directly, and for being so clear. Entirely understood. To be clear on what does not change: your Growth subscription carries on as it is, with the 40 licensed users, at the contracted £44,000 a year, through to the end of the current term on 30 Jun 2026. Nothing on the existing contract needs any action from you. On the upgrade, I'm happy to make this easy. To keep momentum without asking for anything from you now, I suggest we simply diarise a short conversation once the year end is behind you, and I will bring one page setting out what the upgrade would involve so you have something simple in front of you when the board asks. Daniel Okafor will carry on looking after the day to day, so your team has the same contact as before. Does that sit comfortably with you, or would you prefer that I stay quiet until you come back to me? Best, Priya Priya Raman Account Executive, BG-Demo

Priya, Thank you. Keep it simple: one page, and no contact from you before the year end. When you do send it, please state what it costs us, all in, so that I can put a single figure to the board. Regards, Richard Thorne