Warpaint London Regulatory News (W7L)

6 February 2025

Warpaint London PLC

("Warpaint", the "Company" or the "Group")

Trading Update

Strong trading performance for the year ending 31 December 2024 and a positive start to 2025

Warpaint London plc (AIM: W7L; OTCQX: WPNTF), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands is pleased to provide a trading update for the year ended 31 December 2024.

Revenue for the year ended 31 December 2024 is expected to be approximately £102 million (2023: £89.6 million) and profit before tax to be approximately £24 million (2023: £18.1 million).

The strong trading performance has continued into January 2025, with revenue approximately 15% ahead of January 2024, at an improved margin.

The Company expects to release its results for the year ended 31 December 2024 in late April 2025.

Commenting, Sam Bazini, Chief Executive Officer of Warpaint, said: "I am pleased with the Group's performance in 2024 and the strong start to 2025, despite ongoing consumer spending headwinds. It was also pleasing that improved margins were maintained throughout the year.

"We expect to see continued growth across the Group in 2025 and we look forward to completing the acquisition of Brand Architekts later this month and integrating the business into the Group."

Note: All figures used in this announcement, other than those in respect of the financial year ended 31 December 2023, remain subject to audit.

Enquiries:

Warpaint London plc

Warpaint sells branded cosmetics under the lead brand names of W7 and Technic. W7 is sold in the UK primarily to major retailers and internationally to local distributors or retail chains. The Technic brand is sold in the UK and continental Europe with a significant focus on the gifting market, principally for high street retailers and supermarkets. In addition, Warpaint supplies cosmetics under its other brand names of Man'stuff, Body Collection and Chit Chat, each targeting a different demographic.

Appendix: Profit forecasts

Warpaint London plc Profit Estimate for FY 2024

 1.1. The guidance in relation to FY 2024 included in this announcement constitutes an ordinary course profit estimate ("FY 2024 Profit Estimate") for the purposes of the City Code on Takeovers and Mergers (the "Code"):

1.2. Basis of preparation

The basis of accounting used for the FY 2024 Profit Estimate is consistent with the Group's existing accounting policies, which are in accordance with UK-adopted International Accounting Standards and in accordance with the Companies Act 2006 and the accounting policies which were applied in the preparation of the Group's financial statements for the year ended 31 December 2023.

Although the financial period to which the FY 2024 Profit Estimate relates has been completed, the Company's audited accounts for the year ended 31 December 2024 are not available as at the date of this trading update. Accordingly, the FY 2024 Profit Estimate is based on the Company's unaudited interim results for the six months ended 30 June 2024 and the Company's unaudited management accounts for the six months ended 31 December 2024.

1.3. Principal assumptions

1.4. In confirming the FY 2024 Profit Estimate remains valid, the directors of Warpaint have made the following principal assumptions in respect of the financial year ending 31 December 2024:

Factors outside the influence or control of the Company

• there will be no retrospective change in legislation or regulatory requirements that will have a material impact on the Company's operations.

Factors both outside and within the influence or control of the Company

• no events will arise between the date of this trading update and the date on which the Company announces its audited results for the financial year ended 31 December 2024, which would require incorporation in the FY 2024 results in accordance with UK-adopted International Accounting Standards and/or the Company's accounting policies.

1.5. Directors' confirmation

The Directors confirm that the FY 2024 Profit Estimate remains valid and that it has been properly compiled on the basis of the principal assumptions stated above and that the basis of accounting used is consistent with Warpaint's accounting policies set out above.