PCF.L Regulatory News (PCF)

20 September 2022

PCF Group plc

("PCF", the "Bank" or the "Group")

Directorate Changes

The Group announces the following changes to the Board of Directors of the Group (the "Board").

(i) The resignation of David Titmuss as a director of PCF Group plc and PCF Bank Limited with effect from 20 September 2022.

Garry Stran, Chief Executive Officer, commenting on the change said "The Board thanks David for his contributions to PCF over the last 5 years, both to the Board and its Remuneration Committee, and particularly so over the last 18 months. We wish him well for the future"

(ii) The appointment of Carol Sergeant as an independent Non-executive Director of PCF Group plc and PCF Bank Limited with effect from 20 September 2022. Subject to regulatory approvals, Carol will take up the role of the Chair of Board Risk Committee.

Carol has nearly 50 years' experience in banking, notably spending 24 years at the Bank of England and seven years as Chief Risk Officer at Lloyds Banking Group. Carol held various roles at the Bank of England, including being responsible for the worldwide supervision of major UK Banking Groups. Additionally, Carol spent five years at the UK Financial Services Authority first as Director for Banking Supervision and latterly as Board Member and Managing Director for Strategy, Risk, Authorisation and Enforcement.

Currently, Carol serves on the Board as a Non-executive Director at Danske Bank A/S, where she is Chair of the Risk Committee and member of the Conduct and Compliance Committee, and Belmont Green Finance Limited, where she is the Senior Non-executive Director, Chair of the Risk Committee and member of Audit Committee. She has previously been a Non-executive Director on the Boards of BNY Mellon SA/NV, TP ICAP, Secure Trust Bank and Martin Currie Holdings.

In addition to her roles within the financial sector, Carol also has roles in an advisory and charitable capacity. Carol is currently Trustee of Lloyds Register Foundation and member of Audit Risk and Investment Committee and Grants Committee, and a member of the Global Advisory Board and Chair of the Global Women's Leadership Council at Bayes Business School (formerly Cass).

Simon Moore, Chair of PCF, said: "Carol's experience and background in a regulatory and commercial capacity, at the highest level of our industry, will bring a fresh and experienced perspective to our thinking as we continue to consider strategies to bring certainty, and to maximise value for shareholders, with the highest standards of integrity. I am delighted that Carol will join PCF and know that myself and the rest of the Board look forward to working with her."

Additional Information

Carol Sergeant

In accordance with Schedule 2(g) of the AIM Rules, Carol Sergeant, aged 70, holds or has held in the past 5 years the following directorships:

There is no further information required to be disclosed in respect of the above appointment pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.

End

For further information, please visit https://pcf.bank/ or contact:

About PCF Group plc (www.pcf.bank)

Established in 1994, PCF Group plc is the AIM-quoted parent of the specialist bank, PCF Bank Limited. Since commencing operations as a bank in 2017. The Group continues to focus on portfolio quality and lending to the prime segments of its existing markets. The Group will continue to identify opportunities to diversify its lending products and asset classes by setting up new organic operations or through acquisition.

PCF Bank currently offers retail savings products for individuals and then deploys those funds through its four lending divisions:

• Business asset finance which provides finance for vehicles, plant and equipment to SMEs;

• Consumer motor finance which provides finance for motor vehicles to consumers;

• Azule which brokers finance to the broadcast and media industry; and

• Property bridging finance which provides loans to companies and sole traders investing in residential and commercial property.