Trading Statement

19 November 2020

Somero Enterprises, Inc.

("Somero" or "the Company")

Trading Update

Positive momentum heading towards year end, exceeding revised guidance

Somero® provides the following update on trading for the current financial year, ending 31 December 2020.

The Board is pleased to report that as a result of positive trading momentum from the end of H1 2020 continuing through H2 2020, it now expects to exceed its previous reinstated expectations for FY 2020. In the 9 September 2020 interim results statement, the Company reinstated guidance for FY 2020, indicating revenues were expected to approximate US$ 75.0m, adjusted EBITDA was expected to approximate US$ 19.0m, and ending net cash was expected to approximate US$ 20.0m. Based on the strong, profitable trading and healthy cash generation in H2 2020, the Board now expects FY 2020 annual revenues will approximate US$ 80.0m, adjusted EBITDA will approximate US$ 21.0m, and ending net cash will approximate US$ 26.0m.

The improved performance has been led by healthy trading in an active US market, strong contributions from new products - particularly the SRS-4 and the recently launched Broom + CureTM - and an increase in revenues from the SkyScreed family of products due to an easing of job-site restrictions in H2 2020. The strong cash generation in H2 2020 is a direct result of effective working capital management and healthy cash collections. Performance in the Company's non-US markets, and the remaining products in the Company's portfolio, are tracking generally in line with previous expectations.

The Company expects to provide a further update on FY 2020 in January 2021 consistent with prior years.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.