PRSM.L Regulatory News (PRSM)

15 November 2017

Blue Prism Group plc

("Blue Prism" or the "Group")

Trading Update and Board Change

Blue Prism (AIM: PRSM), a global leader in Robotic Process Automation ("RPA"), today provides a trading update following the close of its financial year ended 31 October 2017 in addition to details of a forthcoming change to its Board of Directors.

Trading Update

The Board is pleased to report that Blue Prism continued to generate strong sales momentum in the second half of the financial year, driven by new customer wins and strong upsells with existing customers.

During the second half, the Group secured 400 software deals; of which 206 were new customers, 181 were upsells to existing customers and 13 were renewals. This momentum brings the total number of software deals secured during the financial year to 609; of which 324 came from new customers, 264 from existing customers and 21 from renewals. The Group achieved a 100% renewal rate in the financial year and all new customers were sourced indirectly via Blue Prism's global partner channel.

Given this commercial progress and recent new deals secured, the Board now expects to report revenue for the year ended 31 October 2017 comfortably ahead of current consensus expectations2 and an adjusted EBITDA loss1 broadly in line with current consensus expectations2. The Board is encouraged by the level of monthly recurring revenue at the year end and as such, now expects revenue for the current financial year to be above the upper end of the current analyst range.

Blue Prism will report financial results for the financial year ended 31 October 2017 on Thursday, 25 January 2018.

Board Change

The Board announces that Gary Johnson, Chief Financial Officer, will retire from his role and step down from the Board on 25 January 2018. Since joining Blue Prism in February 2015, Mr Johnson has led the development of the Group's financial platform, both ahead of and after the Group's 2016 IPO. The Board would like to take this opportunity to thank him for his hard work and contribution to Blue Prism's progress to date.

The Board is pleased to announce that Ijoma Maluza will succeed Mr Johnson as Chief Financial Officer and as a member of the Board with effect from 25 January 2018. Mr Maluza will join the Group on 18 December 2017 and work alongside Mr Johnson in order to effect an orderly handover of duties and complete the delivery of Blue Prism's financial results for FY 2017.

Mr Maluza brings to Blue Prism significant experience of advising, working within and leading the evolution of technology and technology enabled businesses. He joins Blue Prism from ip.access Limited, where he currently serves as Chief Financial Officer. Prior to joining ip.access Limited, Mr. Maluza served as Corporate Strategy and Corporate Development Director of Xchanging plc between September 2008 and July 2016. In this latter role, Mr Maluza both supported and led a wide range of projects including investor relations activity, acquisitions and disposals and the process for the development and monitoring of Xchanging's corporate and business unit level strategies. Mr Maluza is a Chartered Accountant and a fellow of ICAEW (FCA), having commenced his career in 2002 at HW Fisher & Co., moving in 2005 to join NM Rothschild & Sons' Telecoms team, where he worked until 2008. Mr. Maluza read Economics at the University of Cambridge.

Alastair Bathgate, Chief Executive Officer of Blue Prism commented:

"It is encouraging to see the sales momentum we reported at the half-year stage continuing through the second half, particularly in the final quarter, and on in to the new financial year now underway. Our global partner base is engaged, our customers continue to seek out new ways to use our software to create real business value, and we look forward to another exciting year of growth.

On behalf of the Board and everyone at Blue Prism, I would like to thank Gary Johnson for his significant contribution over the past three years. He has helped to create a strong and scalable financial platform for our business; something that we can now build upon with Ijoma's experience and energy as we welcome him to our team."

For further information please contact:

 Notes:

1. Adjusted to exclude share-based payments

2. The Board believes current market forecasts for revenue and EBTIDA loss for the year ended 31 October 2017 to be £21.8m and £7.3m respectively.

Additional Information in respect of the AIM Rules

The following information regarding the appointment of Ijoma Patrick Tilowakuti Maluza, aged 38, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Current directorships and/or partnerships Former directorships and/or partnerships (within the last five years)

As at the date of this announcement, Mr. Maluza does not have any beneficial interest in the ordinary shares of the Group.

There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.

About Blue Prism

Blue Prism Group plc ("Blue Prism" or the "Group"), a UK-headquartered global software company, is a leader in Robotic Process Automation ("RPA"), which enables blue-chip organisations to create a digital workforce powered by Blue Prism's software robots that are trained to automate routine back-office clerical tasks. The Group's enterprise-grade software enables the automation of manual, rules-based, administrative processes to create a more agile, cost effective and accurate back-office.

Blue Prism's RPA software delivers the world's most successful digital workforce and has executed over 1 billion transactions for our customers, which include Aegon, BNY Mellon, Commerzbank, IBM, ING, Maersk, Nokia, Nordea, Procter & Gamble, Raiffeisen Bank, Siemens, Westpac and Zurich. As at 31 October 2017, Blue Prism had 187 employees based out of offices in Newton le Willows and London (UK), Sydney (Australia), Tokyo (Japan), Bangalore (India), Austin, Miami, Chicago, New York and San Francisco (US).

For more information visit www.blueprism.com and follow the Group on LinkedIn and Twitter.