Trading Update

05 June 2026

Raspberry Pi Holdings plc

("Raspberry Pi" or "the Company")

Trading Update

H1 FY 2026 profitability expected to be materially ahead of H1 FY 2025

Upgrade to FY 2026 outlook

Raspberry Pi (LSE: RPI), a leader in low-cost, high-performance computing, is pleased to report that trading in the first half of the year (six months ending 30 June 2026) has been strong, with profitability materially ahead of the comparable period in FY 2025. Units for the first half are expected to be over 4 million and Adjusted EBITDA at least $38m. Performance has been supported by continued growth in unit volumes, a favourable product mix, and the ongoing utilisation of low-density DRAM inventory accumulated throughout FY 2025.

Despite DRAM related price increases, the Company has seen continued robust demand for its products from OEMs and other customers. In the second half, the Company will focus on the strategic opportunity to gain market share and further strengthen customer relationships. Unit economics are expected to moderate in H2 as inventory of memory procured at a lower cost in earlier periods is depleted.

While macroeconomic uncertainty persists, and the pricing and availability of DRAM and non-volatile memory remains challenging, the Company is confident that it can secure the inventory necessary to meet its FY 2026 production goals. The Company continues to benefit from its existing memory vendor relationships, and to identify and onboard new vendors. Given the opportunity to make strategic purchases of memory inventory, the Company expects to appropriately utilise its debt facilities through FY 2026.

The strong profitability delivered in the first half is expected to result in FY 2026 EBITDA being significantly ahead of current market expectations.

Notes

As at 4 June 2026, the Board understands the consensus market expectations for FY 2026 adjusted EBITDA, based on published analyst forecasts, to be $42.0m.

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Notes to Editor

Headquartered in Cambridge, UK, Raspberry Pi's mission is to put high-performance, low-cost, general-purpose computing platforms in the hands of enthusiasts and engineers all over the world.

Raspberry Pi is a full-stack engineering organisation, with research and development capabilities spanning the entire value chain, from semiconductor IP development, through semiconductor and electronic product design to software engineering and regulatory compliance. The high performance, low cost, and physical robustness of Raspberry Pi products make them suitable for a wide range of applications, across three distinct markets: Industrial and Embedded, Enthusiast and Education and Semiconductors. To date, over 73 million units have been sold.

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.