Proposed Settlement of Class Action Announced in Arqit Quantum Inc. Securities Litigation

NEW YORK, March 3, 2026 /PRNewswire/ -- The following statement is being issued by Kroll Settlement Administration regarding In re Arqit Quantum Inc. Securities Litigation, Case No. 1:22-cv-02604-PKC-SDE pending in the United States District Court for the Eastern District of New York.

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF
PROPOSED SETTLEMENT OF CLASS ACTION

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

Capitalized terms used in this notice that are not otherwise defined are defined in the Stipulation and Agreement of Settlement, dated January 9, 2026 ("Settlement Agreement"), available at www.ArqitSecuritiesSettlement.com ("Settlement Website"). 

YOU ARE HEREBY NOTIFIED that a hearing will be held on June 1, 2026, at 2:00 p.m., before the Honorable Pamela K. Chen at the United States District Court, Eastern District of New York, 225 Cadman Plaza East, Courtroom 4F, Brooklyn, New York 11201, to determine whether: (1) the proposed Settlement of In re Arqit Quantum Inc. Securities Litigation, No. 1:22-cv-02604-PKC-SDE (E.D.N.Y.) (the "Action") and Plan of Allocation as set forth in the Settlement Agreement should be approved by the Court as fair, reasonable and adequate; (2) to enter the Judgment as provided under the Settlement Agreement dismissing the Action with prejudice; (3) to award Plaintiffs' Counsel attorneys' fees and expenses from the Settlement Fund, and, if so, in what amount; and (4) to award Lead Plaintiff Chris Weeks ("Lead Plaintiff") and Named Plaintiffs Patrick Hagemeister, Erwin Jay Lack, and Walter Littlejohn III (collectively with Lead Plaintiff, "Plaintiffs") costs and expenses (including lost wages) directly relating to their representation of the Class, and if so, in what amount. 

IF YOU HELD CENTRICUS CLASS A ORDINARY SHARES OR CENTRICUS UNITS AS OF JULY 26, 2021, OR PURCHASED OR OTHERWISE ACQUIRED ARQIT ORDINARY SHARES OR ARQIT WARRANTS IN THE MERGER OR DURING THE SEPTEMBER 7, 2021 TO DECEMBER 13, 2022, INCLUSIVE, CLASS PERIOD, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION

This Summary Notice advises Settlement Class Members of information about the Action and the proposed Settlement. For additional details, read the Settlement Agreement and Longform Notice, which are available for download from www.ArqitSecuritiesSettlement.com, or by contacting the Claims Administrator at the contact information below. 

In the Settlement, Defendants have agreed to pay a Settlement Amount of $7,000,000 in cash in exchange for a release of Settlement Class Members' claims related to the Action. The Longform Notice, at pages 9-11, describes those releases in detail. After deductions of any Court-approved Notice and Administration Costs, Taxes and Tax Expenses, and a Fee and Expense Award of attorneys' fees and expenses and reimbursement for Plaintiffs' costs and expenses relating to their representation of the Class, the Net Settlement Fund will be divided among all Settlement Class Members who submit a valid Proof of Claim and Release form ("Claim Form") pursuant to the Court-approved Plan of Allocation. 

To share in the distribution of the Settlement Fund, you must submit a Claim Form and required documentation electronically through www.ArqitSecuritiesSettlement.com (no later than June 22, 2026) or by mail (postmarked no later than June 22, 2026). Failure to submit a timely Claim Form may preclude you from receiving payment. If you are a Settlement Class Member, and do not request exclusion from the Class, you will be bound by the Settlement and any judgment and release entered in the Action, whether or not you submit a Claim Form.

If you do not want to be legally bound by the Settlement, you must submit a written request to exclude yourself (i.e. "opt-out") such that it is received no later than May 11, 2026, and in the manner and form described on pages 11-12 of the Longform Notice; otherwise your exclusion request will be rejected.

If you are a Settlement Class Member, you have the right to object to the Settlement, the Plan of Allocation, the request by Plaintiffs' Counsel for an award of attorneys' fees not to exceed one-third (33.33%) of the Settlement Fund and expenses not to exceed $175,000, plus interest on those amounts at the same rate paid to the Settlement Fund, or the Plaintiffs' requests for reimbursement of their reasonable costs and expenses, including lost wages, related to their representation of the Settlement Classes in an amount not to exceed $7,500 for Lead Plaintiff weeks and $5,000 each for the remaining three Named Plaintiffs. Any objections must be in writing and filed with the Court and sent to Plaintiffs' and Defendants' Counsel so that it is received no later than May 11, 2026, in the manner and form explained in pages 13-14 of the Longform Notice; otherwise your objection will be rejected. Only Settlement Class Members may object. You cannot opt out of the Class and also object to the Settlement. 

If you have not received or downloaded a copy of the Longform Notice, which more completely describes the Litigation, the Settlement, and your rights thereunder (including your right to object to or opt out of the Settlement), and a Claim Form, you may obtain these documents, as well as a copy of the Settlement Agreement (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other Settlement documents, online at www.ArqitSecuritiesSettlement.com, or by contacting the Claims Administrator at:

Arqit Quantum Inc. Securities Litigation Settlement
c/o Kroll Settlement Administration LLC
PO Box 225391
New York, NY 10150-5391
www.ArqitSecuritiesSettlement.com
[email protected]

Inquiries should not be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Longform Notice, the Settlement Agreement, or for a Claim Form, may be made to Plaintiffs' Counsel:

WOLF POPPER LLP
Joshua W. Ruthizer

Through March 13, 2026:
845 Third Avenue, 12^th Floor
New York, NY 10022

After March 13, 2026:
570 Lexington Avenue, 19^th Floor
New York, NY 10022

Telephone: 877-370-7703.

PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF NEW YORK

SOURCE Kroll Settlement Administration