Bodycote Regulatory News (BOY)

www.bodycote.com

15 March 2024

Bodycote plc

Launch of £60 million Share Buyback Programme

Further to the announcement made on 22 January 2024, Bodycote plc ("Company"), the world's leading provider of heat treatment and specialist thermal processing services, is pleased to announce the commencement of a share buyback programme of up to £60 million ("Programme"), which will be undertaken in two tranches.

The first tranche of the Programme ("First Tranche"), to be carried out by HSBC Bank plc ("HSBC"), will be for a maximum aggregate consideration of £30 million, with trading expected to commence today, Friday 15 March 2024 and anticipated to end on or before 14 September 2024 ( "Engagement Period"). The second tranche of the Programme ("Second Tranche"), which will be conducted after completion of the First Tranche, is intended to be undertaken by Jeffries International Limited and further details in respect of the Second Tranche will be announced in due course.

In respect of the First Tranche of the Programme, the Company confirms that it has entered into non-discretionary instructions with HSBC to conduct a share buyback programme on the Company's behalf. HSBC will make trading decisions in relation to the Company's ordinary shares repurchased under the Programme independently of, and uninfluenced by, the Company. Purchases may continue during any close period to which the Company is subject during the Engagement Period.

Purchases of ordinary shares in relation to the Programme will be carried out on the open market via the London Stock Exchange and/or any other recognised investment exchange for the purposes of section 693 of the Companies Act 2006, to be made from time to time depending on market conditions, share price, trading volume and other factors.

The Programme will be conducted within certain pre-set parameters, and, up until the 2024 Annual General Meeting scheduled to be held on 30 May 2024, in accordance with the general authority to repurchase shares, which was granted to the Company by its shareholders at the Annual General Meeting held on 31 May 2023, pursuant to which the maximum number of ordinary shares that can be bought back is 19,145,617 ordinary shares and post the 2024 Annual General Meeting, if approval is granted by the shareholders, in accordance with the general authority to repurchase shares granted at that meeting.

Any purchases will be made in accordance with the parameters prescribed by the Market Abuse Regulation 596/2014 (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and Chapter 12 of the Financial Conduct Authority's Listing Rules.

The aggregate purchase price of all ordinary shares acquired under the Programme will be no more than £60 million (excluding stamp duty and expenses). The sole purpose of the Programme is to reduce the Company's share capital. As such, the Company will cancel any ordinary shares purchased.

About Bodycote

With more than 165 accredited facilities in 22 countries, Bodycote is the world's largest provider of thermal processing services. Through Specialist Technologies and classical heat treatment, Bodycote improves the properties of metals and alloys, extending the life of vital components for a wide range of industries, including aerospace, defence, automotive, power generation, medical, oil & gas, construction, and transportation. Customers in all of these industries have entrusted their products to Bodycote's care for more than 50 years. For more information, visit www.bodycote.com.

For further information, please contact:

Bodycote plc

Stephen Harris, Group Chief Executive

Ben Fidler, Chief Financial Officer

Peter Lapthorn, Head of FP&A and Investor Relations

Tel: +44 1625 505300

FTI Consulting

Richard Mountain

Susanne Yule

Tel: +44 203 727 1340