MORE.L Regulatory News (MORE)

The following amendment has been made to the 'AGM Trading Update' announcement released on 3 June 2024 at 0700 under RNS No 7504Q.

The original announcement noted that "The person responsible for releasing the announcement is Matthew Biddy, CFO of Hostmore plc." This has been corrected to read "The person responsible for releasing the announcement is Matthew Bibby, CFO of Hostmore plc."

All other details remain unchanged.

The full amended text is shown below.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

3 June 2024

Hostmore plc

AGM Trading Update

In conjunction with today's Annual General Meeting of shareholders, Hostmore plc (together with its subsidiaries, the "Group") announces an update on trading for the 20 weeks ended 19 May 2024.

Year-to-date LFL sales were 10% lower versus the same period for 2023. However, EBITDA (FRS102) continues to perform ahead of 2023, with the first four months to the end of April higher by £3.3 million versus the same period for 2023.

The final two 63rd + 1st store locations are expected to be closed by 30 June 2024, with the brand's supply chain and support function expense having now been removed, improving future EBITDA performance for the Group.

It is the Board's expectation that net debt will reach a peak for the year at the end of Q3, a quarter later than typically experienced, due to lower revenues and the payment of transaction fees as they fall due of approximately £3 million related to the proposed all-share acquisition of TGI Fridays Inc. announced on 16 April 2024 (the "Acquisition"). The Board's expectation for net debt does not give effect to completion of the Acquisition, as the existing net debt of the Group is expected to be repaid on or shortly after completion of the Acquisition.

Update on the TGI Fridays Acquisition:

• The refinancing process of the combined group has received interest from numerous lenders and is currently under exclusivity with one party to agree a package

• The share purchase agreement formalising the transaction is expected to be signed shortly after financing is agreed

• The transaction remains on schedule to reach binding terms and complete before the end of Q3 2024

The person responsible for releasing the announcement is Matthew Bibby, CFO of Hostmore plc.

ENDS

Enquiries

Hostmore plc

Matthew Bibby, Chief Financial Officer

Tel: +44 (0)330 460 5588

Email: enquiries@hostmoregroup.com

Dentons Global Advisors

Jonathon Brill, James Styles

Tel: +44 (0)20 7664 5095

Email: Hostmore@dentonsglobaladvisors.com