Speedy Hire Regulatory News (SDY)

17 November 2025

HSS Hire Group plc

(to be renamed ProService Building Services Marketplace plc)

("ProService" the "Company" or the "Group")

Completion of the THSC Disposal and Speedy Hire Investment

Directorate Changes and Trading Update

Total Voting Rights

Change of Name and Company Website

Further to the Company's announcements on 6 October 2025, the Company is pleased to confirm that admission of the 79,368,711 new ordinary shares of 1 pence each ("Subscription Shares") subscribed for by Speedy Hire plc has become effective, and dealings in the Subscription Shares commenced on AIM at 8.00 a.m. today ("Admission").

As Admission has now occurred, the THSC Disposal and the Speedy Hire Investment (together with the Speedy Hire Commercial Agreement, the "Transaction"), as announced on 6 October 2025, have now completed, facilitating the commencement of the Group's five-year commercial agreement with Speedy Hire plc and Speedy Asset Services Limited ("Speedy Hire") with an option for Speedy Hire to extend by a further three years, to become an equipment supplier to the Group's wholly owned subsidiary HSS ProService Limited ("HSS ProService"). Speedy Hire will also procure all of its customers' re-hire and certain of their resale requests are routed through the ProService platform, and its customers' training service requirements from ProService's training division.

Furthermore, the disposal of The Hire Service Company ("THSC") to Project Mansell Newco Limited, a newly formed company indirectly owned by investment funds managed by Endless LLP ("Disposal") has now completed and THSC will now commence trading separately under new ownership, whilst allowing HSS ProService to maintain its commercial agreement with THSC for powered access in the South East of England (completion of the Disposal together with the completion of the Transaction, defined as "Completion").

Completion of the Transaction marks a significant milestone in the Group's strategic transformation, resulting in a stand-alone, technology-enabled marketplace for building services that brings together ProService's proprietary digital platform and expertise with Speedy Hire's improved supply terms which will leverage the range of Speedy Hire's existing product lines.

Directorate Changes

In conjunction with the successful completion of the Group's strategic transformation, the culmination of a two year project, the Company announces the following directorate changes reflecting the evolution of the Group to an asset-light platform business:

· Steve Ashmore has decided to resign from the Group and therefore will step down as a Director of the Company and its subsidiaries with immediate effect. After more than eight years with the Group, Steve is leaving to pursue other interests.

· On completion of his current interim contract on 30 January 2026, Richard Jones, Group Chief Financial Officer, will step down from the Board and move to a part-time role until the end of March 2026.

Trading Update

Since the announcement of 6 October 2025, the Company has been trading with Speedy Hire on a limited basis which has proven an operational success. ProService's systems are in the process of being integrated to allow an automatic feed of contracts such that Speedy Hire will receive ProService's orders and ProService will receive Speedy Hire's orders for rehire, re-sale and training. All TUPE consultations and processes are nearly complete with all associated employee moves from Speedy Hire to ProService effective from completion of the Transaction. 

As previously reported, trading for the continuing operations of ProService has been subdued due to the adverse market conditions and this has remained the same since April 2025. Whilst revenues for ProService are expected to be broadly in line with market expectations1 completion of the Transaction has taken longer than originally forecast resulting in the continuing operations of the Group being impacted operationally during the period post announcement and having to carry additional costs.

However, the Group has now exited the challenging period of managing the major disruption between exchange and completion of the Transaction and is now in a position of strength as an asset-light platform business. The Board remains confident that the commercial agreement with Speedy Hire will deliver enhanced net margins and be earnings-accretive for the Group in the financial year ending March 2027.

A further update on the Company's trading will be provided at its H1 2026 results in December 2025.

Total Voting Rights

Following Admission of the Subscription Shares, the Company has 794,481,591 ordinary shares of 1 pence each in issue. The Company does not hold any shares in treasury.

Therefore, the total number of voting rights in the Company is 794,481,591 (the "Voting Rights Figure"). This Voting Rights Figure may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their voting interest in, or a change to that interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Change of Name

The Company confirms that its name is expected to change from HSS Hire Group plc to ProService Building Services Marketplace plc tomorrow, following the General Meeting on 6 November 2025.

The Company's tradeable instrument display mnemonic on the London Stock Exchange is expected to change from HSS to PRO before the start of trading on 18 November 2025. Shareholders should note that their shareholdings will be unaffected by the change of name. Existing share certificates should be retained as they will remain valid for all purposes and no new share certificates will be issued.

A further announcement will be made once the change of name becomes effective.

Change of Website

Following the change of the Company name to ProService Building Services Marketplace plc which is expected to take effect on or around 18 November 2025, the Company's website will also change on or before 24 November 2025 to www.hssproservice.com.

Alan Peterson, Non-Executive Chairman of the Company, said:

"Steve has been instrumental in successfully executing the multi-year strategy to transform the Group into ProService, an important and exceptionally well-positioned digital marketplace for building services. I would like to thank him on behalf of the Board for his enormous contribution over the past eight years.

Furthermore, Richard has provided invaluable support and leadership over the last year as we successfully sold HSS Hire Ireland, strengthened our finance facilities and secured the transformational, long-term commercial supply agreement with Speedy Hire and sale of THSC.

The Company is exiting a challenging period in terms of managing the major disruption between exchange and completion of the Transaction, and under the leadership of Tom Shorten as Chief Executive Officer of ProService and supported by Greig Thomas as Chief Financial Officer of HSS ProService, we are very much looking forward to the next phase of growth. The Board remains confident that the commercial agreement with Speedy Hire will deliver enhanced net margins and be earnings-accretive for the Group in the financial year ending March 2027."

1. For the purpose of this announcement, the Group believes market consensus for FY26 for the continuing operations of ProService to be revenues of £274.8 million

-Ends-

For further information, please contact:

Other than where defined, capitalised terms used in this announcement have the meanings given to them in the circular to the Company's shareholders dated 17 October 2025.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended (together, "MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person responsible for arranging the release of this announcement on behalf of the Company is Richard Jones, Group Chief Financial Officer.