Background to and reasons for the Booker Board’s recommendation. Booker is proud to serve its retail, catering and small business customers. In the past decade, Booker has improved the choice, prices and service it provides to its customers, thereby earning more of its customer’s business and growing with its customers. The Booker Board believes that becoming a part of the Tesco Group will help it further improve choice, prices and service. The Booker Board believes this will help its retail, catering and small business customers prosper in a challenging market. With the support of the UK’s leading multi-channel food group, it is anticipated that Booker customers will be able to improve their offer to consumers and help them grow. Furthermore, the Booker Board expects that suppliers will see volume growth. Booker colleagues will have opportunities in the Combined Group and Booker Shareholders should benefit from the significant opportunities that will be delivered.