Board Changes and Company update

Amigo Holdings PLC ("Amigo" "PLC" or the "Company"), a provider of mid-cost credit in the UK that is currently in an orderly solvent wind-down, announces the proposed board changes detailed below.

Kerry Penfold will immediately step down from her role as PLC CEO and Director. She will continue with her role as CEO of the Company's subsidiaries (including Amigo Loans Ltd) until 31 May 2025. Nicholas Beal, Amigo's Chief Restructuring Officer will join the PLC board as an Executive Director with immediate effect and will take on Kerry's PLC responsibilities alongside his existing role.

Michael Bartholomeusz will also immediately step down from his role as a PLC Non-Executive Director and Chair of the Audit and Risk Committees. However, he will continue with his role as a Non-Executive Director of the Company's subsidiaries (including Amigo Loans Ltd) until 31 May 2025.

Jonathan Roe, Chair commented:

"Kerry has done an amazing job leading the team through to completion of a very complicated Scheme of Arrangement process. Having navigated us to the second Scheme payment she has decided this is the right time to move on to find a new opportunity. We wish her well for the future and we know that she will succeed at whatever she does next"

"I have been very grateful for Michael's support during this very difficult time for Amigo. His contributions to Board discussion, with particular focus on risk and regulation, have made sure that we have done the right thing for customers."

"I extend a warm welcome to Nick to the PLC Board and look forward to working with him to secure an RTO and a long-term future for PLC."

Following the change, the total number of Directors on Amigo's Board will consist of two independent Non-Executive Directors and one Executive Director. Further information on Nicholas Beal is set out in the Appendix. There is no information pursuant to UKLR6.4.8R to be notified in respect of Nicholas Beal.

Company update

The Board continues to search for a suitable reverse takeover ("RTO") target to enable the Company to continue as a viable business in the long term. The Company has a very limited runway and, based on its budget and further measures to reduce costs, current resources will only be sufficient until early July 2025 prior to which the Company will need to raise additional funding in order continue its RTO search, failing which it will need to declare insolvency.

Further announcements will be made in due course.

Appendix

Nick has been with the Amigo group for 13 years and for the last 5 has been the Chief Restructuring Officer, responsible for the Scheme of Arrangement process. Nick is a solicitor and is currently also Group Company Secretary. Before his current role, Nick was the Chief Regulatory and Public Affairs Officer, responsible for external affairs and communications, including with the media, politicians and our regulators. Nick has previously worked for large legal practices, and banks and building societies before joining the Group.

In addition to being a director of group companies, Nick has in the last 5 years been a director of: Citygate Church, and Michaels Ltd (a homeless hostel). Nick was also a Non-Executive Director of Bournemouth University and Vice-Chair of the Audit, Risk, and Governance sub-Committee.