Ten Life Regulatory News (TENG)

17 September 2020

Ten Lifestyle Group plc

("Ten" or the "Group")

Full Year Trading Update and Notice of Results

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global concierge platform for the world's wealthy and mass affluent, is pleased to announce a trading update ahead of its preliminary results for the year ended 31 August 2020.

The Group expects to report Net Revenue1 that is slightly ahead of market expectations of £43.3m and marginally below prior year (2019: £45.8m) due to the adverse effects of the COVID 19 pandemic.

Adjusted EBITDA2 profit is expected to be slightly ahead of market expectations of £4.5m, reflecting prudent cost management and improved efficiencies.

The Group ended the year with a strong Net Cash position of c.£9.9m3 resulting from a small cash inflow during the six months ended 31 August 2020, compared to a cash outflow in the six months ended 29 February 2020.

The Group has maintained its level of investment in technology throughout the year, continuing to invest in the digitalisation of Ten's technology platform to drive continued improvements in service levels, efficiencies and Ten's competitive advantage.

Alex Cheatle, CEO of Ten Lifestyle Group, said:

"We are pleased that our responsive business model has allowed us to continue to deliver relevant services to our members and corporate clients throughout this period of uncertainty. Revenue from corporate clients is higher than last year, although supplier revenue4, primarily from travel bookings, continues to be very low. This will continue until global travel substantially recovers.

Adjusted EBITDA profit has been facilitated by careful cost management and the virtuous circle at the heart of Ten's business model, which leverages improving efficiencies and member satisfaction to improve member engagement. This, in turn, justifies corporate client spend and reinvestment into the service, driving the next round of improvements."

Notice of Preliminary Results

The Group expects to announce its preliminary results, for year ended 31 August 2020, on 24 November 2020.

The Group will be hosting an analyst presentation to accompany its preliminary results at 9am on 24 November 2020.

The Group will also be presenting an Investor Webinar for current and prospective investors at 5:30pm on 3 December 2020.

If you would like to attend either event, please email investorrelations@tengroup.com.

1 Net Revenue excludes the direct cost of sales relating to certain member transactions managed by the Group.

2  Adjusted EBITDA is operating profit/loss before interest, taxation, depreciation, amortisation and share-based payments. Adjusted EBITDA for current period includes implementation of the new IFRS 16 Lease accounting standard. The transition method used was the Modified Retrospective method therefore comparatives have not been restated.

3  Net Cash represents cash balances of £10.9m and debt of £1m (US$1.33m) from a U.S. government-backed loan under the Paycheck Protection Program (PPP).

4 Ten's revenue from its supplier base, such as hotels, airlines, and event promoters which sometimes pay commission to Ten constituted 12% of Net Revenue for the 2019 financial year.

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For further information please visit www.tenlifestylegroup.com or call:

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc is a leading technology-enabled, global concierge platform, helping wealthy and mass affluent individuals and their families to discover, organise, and enjoy dining, live entertainment, travel and premium retail (and other relevant services) with better results and quicker than they could themselves.

Underpinned by industry-first technology, Ten provides its trusted concierge services to its more than 2 million members, 24/7, 365 days a year, wherever they are in the world. Founded in 1998, the business listed on the AIM market of the London Stock Exchange in November 2017 (AIM: TENG). Ten Lifestyle Group's objective is to become the most trusted service platform in the world.

For further information about Ten Lifestyle Group Plc, please go to: www.tenlifestylegroup.com