Lsl Prop Regulatory News (LSL)

For immediate release 9 December 2021

LSL Property Services plc ("LSL")

Acquisition by Pivotal Growth of Lifetime Finance Group

LSL announces that Pivotal Growth Limited ("Pivotal Growth") has completed its first acquisition, Lifetime Finance Group Limited ("Lifetime Finance Group").

Pivotal Growth was established in April 2021 as a joint venture with Pollen Street Capital, to "buy and build" a leading national mortgage broker powered by market leading technology, first class regulatory compliance and exemplary customer service. It is planned that at least £200m will be made available by way of equity and debt to fund acquisitions.

Lifetime Finance Group has been established for over 25 years and is one of the largest mortgage brokers in Scotland, with particular expertise in advising contractors and self-employed clients.

Pivotal Growth is currently discussing a significant number of other potential opportunities and expects to complete further transactions soon.

David Stewart, Group Chief Executive of LSL, commented:

"I am pleased to confirm that Pivotal Growth has successfully concluded the acquisition of Lifetime Finance Group.

"The Pivotal Growth management team is in active discussion with a number of other brokers that it believes would benefit considerably by being part of Pivotal Growth and we expect to confirm further deals in the early part of 2022."

For further information, please contact:

Notes on LSL

LSL is one of the largest providers of services to mortgage intermediaries and mortgage and protection advice to estate agency customers, completing £32.6bn of mortgages in 2020. It represents approximately 9% of the total purchase and remortgage market with around 2,700 financial advisers. It was named Mortgage Network of the Year by both Moneyfacts and Mortgage Introducer in their 2020 awards, as well as Best Network 300+ ARs by Mortgage Strategy.

LSL's Financial Services Division includes PRIMIS which is the trading style of First Complete Limited, Personal Touch Financial Services Limited and Advance Mortgage Funding Limited which are all authorised and regulated by the Financial Conduct Authority.

LSL's surveying businesses e.surv is one of the UK's largest providers of surveying and valuation services, supplying seven out of the ten largest lenders in the UK, employing over 500 operational surveyors, and performing over 500,000 valuations and surveys per annum for key lender clients. It was named Best Surveyor/Valuer at the 2020 Mortgage Strategy awards.

LSL also operates a network of 228 owned and 127 franchised estate agency branches, with brands that include Your Move, Reeds Rains and Marsh & Parsons.

For further information please visit LSL's website: lslps.co.uk

Notes on Pollen Street Capital

Pollen Street is one Europe's leading specialist private equity investors in the financial and business services sectors, having invested over £2bn since 2003 in a range of financial services businesses across all stages of development. PSC works with entrepreneurial management teams to build businesses that deliver market-leading products and services to their customers in order to create long-term sustainable success. Pollen Street has considerable experience of the UK mortgage market and in executing buy-and-build strategies.

www.pollencap.com