Trading Statement

London, United Kingdom, 10 October 2024 - Auction Technology Group plc ("ATG", "the Company", "the Group") (LON: ATG), operator of world-leading marketplaces for curated online auctions, provides an update on its trading performance for the financial year ended 30 September 2024.

ATG has continued to make good progress against its strategic initiatives, including growing the adoption of value-added services and rolling out our cross-listing product, atgXL. Encouragingly, GMV has demonstrated significantly improved momentum in the second half of FY24. GMV is still slightly negative year-over-year as headwinds in the underlying end markets have yet to reverse. As a result, the Group expects full year revenue to be $174m, an increase of 5% (up 2% on an organic basis1) and marketplace revenue is expected to increase 7% (up 3% on an organic basis1).

The Group's cost performance was in line with its expectations to deliver a significantly improved adjusted EBITDA margin in the second half of the year benefiting from phasing of costs. The Group expects its adjusted EBITDA margin to be between 45% and 46% for the full year. Through ongoing strong cash generation, the Group continues to expect its adjusted net debt to adjusted EBITDA ratio to be at 1.5x at year end.

The Group will report its Full Year results on Wednesday 27 November 2024.

• The Group has made certain acquisitions that have affected the comparability of the Group's results. To aid comparisons between FY24 and FY23, organic revenue growth is presented whereby the current period results have been presented to exclude the acquisition of EstateSales.Net on 7 February 2023. Organic revenue is shown on a constant currency basis using average exchange rates for the current financial period applied to the comparative period and are used to eliminate the effects of fluctuations in assessing performance.