What is Celtic Supporters Limited

Celtic Supporters Limited is a member-owned company formed to build a meaningful, organised fan shareholding in Celtic PLC.
Our purpose is simple:

• Unite dispersed fan shareholders
• Acquire additional shares over time
• Aggregate proxy voting power
• Establish a credible, sustained fan voice at PLC level
• We are not a protest group.
• We are not a pressure campaign.

We are building structured shareholder influence.

What is the long-term goal

The long-term objective is to build a material shareholding and
voting block capable of influencing governance outcomes at
Celtic PLC.
Success looks like:

• A large, coordinated fan voting bloc
• Meaningful leverage at AGMs and general meetings
• Structured dialogue at PLC level
• A seat at the table if shareholding scale justifies it

This is a long-term strategy. It will not be achieved overnight.

How is CSL different from other supporter bodies

CSL differs in three structural ways:

1. We are a company with Articles of Association.
2. We are building voting power through share acquisition
and proxy aggregation.
3. We operate on one member one vote internally.

We are not dependent on annual resolutions alone. We are building ownership leverage.

How is CSL governed

CSL operates under formal Articles of Association.
Key governance principles:

• One member one vote
• Directors are unpaid
• Major decisions subject to member approval where required
• Register of Members maintained
• Financial records maintained and reported
• Membership can be declined by directors acting reasonably in the interests of the company, as permitted under the Articles.

Are Directors Paid

No.
All directors are unpaid and work on a voluntary basis.
No subscription funds are distributed as profit or wages to directors.

What is the membership structure

We currently offer:

• Monthly membership
• Annual membership
• Lifetime membership

All membership types carry the same internal rights.

• One member one vote.
• Paying more does not buy more influence.

Lifetime membership exists because members asked for a one-
off contribution option.

What are subscriptions used for

Subscription income is used for two purposes:

• Share acquisition
• Running costs necessary to operate lawfully and credibly

Running costs include:

• Legal advice
• Compliance
• Accounting
• Technology
• Banking
• Administration

We operate transparently and maintain proper records

Where Are The Funds Held

Funds are held in a UK bank account in the name of Celtic Supporters Limited.
CSL is responsible for safeguarding funds and maintaining financial controls.

Do members own shares directly

No.
Shares purchased by CSL are owned by CSL as a company.
Members do not receive individual share certificates in their personal name through CSL subscription.
Members influence CSL’s direction through internal voting rights.

If I already own Celtic PLC shares, do I lose them

No.
Your shares always remain yours.
If you appoint CSL as proxy for a meeting, that is voluntary and limited to that specific meeting.
Proxy voting does not transfer ownership.

Do I need to be a member to give CSL my proxy

No.
A shareholder can appoint CSL as proxy on a meeting-by-meeting basis without being a CSL member.
Membership relates to internal CSL governance.

What happens if I stop subscribing

Your CSL membership rights cease in accordance with our membership terms.
Any shares owned by CSL remain owned by CSL.
Subscription payments are not share purchases in your personal name.

Can CSL sell its shares

CSL may sell shares if the directors and members determine that doing so is in the company’s best interests and consistent with its purpose.
Any major strategic decision would be subject to proper governance processes.
CSL exists to build influence, not to trade shares opportunistically.

How many shares do you need to influence change

Influence depends on context.
In general:

• 5 percent allows requisition of certain shareholder resolutions
• 25 percent can block special resolutions
• Larger stakes increase leverage materially

Major shareholders currently control a significant majority of votes.
The dispersed retail shareholder base accounts for a substantial minority.
CSL’s aim is to consolidate and expand that dispersed block.

Can CSL block a sale of the club

Only a shareholder or coalition holding sufficient voting percentage could influence such outcomes.
CSL does not currently hold a blocking stake.
Our strategy is to build scale over time.

What happens if a major shareholder sells

If a controlling shareholder sells, control transfers based on share ownership.
CSL’s objective is to ensure that fan representation is part of the governance landscape regardless of ownership structure.

How quickly can CSL grow

Growth depends on:

This is a disciplined, long-term strategy.

• Membership numbers
• Subscription scale
• Share availability
• Willing sellers
• Capital availability

Progress can accelerate if:

• Larger blocks become available
• Lending facilities or structured capital become accessible
• CSCs and shareholder groups engage

This is a disciplined, long-term strategy.

Can Celtic Supporters Clubs join as lifetime members

CSLs Articles currently operate on a one member one vote
basis.
If a CSC joins as a member, it would hold one internal vote, not multiple votes on behalf of its members.
We are reviewing structural implications carefully before expanding membership categories.

Are you regulated by the FCA

CSL is not offering financial products or regulated investments We are a member-owned company acquiring shares in a
publicly listed company.
We do not provide investment advice.

Why should supporters believe this can succeed

Because influence is built through:

• Ownership
• Organisation
• Discipline
• Numbers

Fragmented shareholders lack leverage.
Coordinated shareholders create leverage.
Status quo has not shifted governance dynamics.
Building a structured voting bloc changes that equation.

What would success look like in five years

Success would mean:

• Thousands of engaged members
• A consolidated fan voting block
• Recognised stakeholder status
• Structured dialogue at PLC level
• Material influence in governance matters

Is CSL against other supporter groups

No.
CSL is independent.
We respect the right of other groups to pursue their strategies.
Where objectives align and members approve, cooperation is possible.
Our mandate remains with CSL members

Is this about wealth or social class

No.
Membership level does not affect voting power.
One member one vote applies equally.
This is about collective influence, not financial hierarchy.

Why Now

Because:

• A significant minority of shares sit with dispersed fans
• Major shareholders hold dominant voting power
• Fragmentation weakens influence
• Coordination strengthens it

If we repeat past approaches, we repeat past outcomes.

How can non-shareholders help

You can:

• Become a member
• Support share acquisition
• Amplify messaging
• Encourage shareholder engagement
• Attend briefings

Ownership influence is built collectively.

Will you publish Q&A responses

CSL exists to build organised, disciplined shareholder influence for Celtic supporters.
We are:

• Democratic internally
• Transparent structurally
• Focused on ownership
• Long-term in outlook

Supporter voice in the boardroom is not achieved through noise alone.
It is achieved through numbers, organisation and ownership.
That is the path we are building