Mark Ritson Option Exercise

Proceeds to strengthen Group balance sheet

and net cash position

Brave Bison, the next-generation marketing and technology partner for global brands, announces that Moonlight Graham Pty Limited , a company beneficially owned by Professor Mark Ritson, has exercised in full its existing option (the "Option") to acquire 4,081,632 new Ordinary Shares in the Company ("Ordinary Shares") for a total consideration of £2 million (the "Option Exercise"). The exercise price for the Option Exercise is 49 pence per Ordinary Share.

Professor Mark Ritson is Founder of MiniMBA, the category-leading training and eLearning business for marketing professionals acquired by Brave Bison in 2025. The terms of Option, which was put in place to enable meaningful ongoing management equity participation, were announced by the Company on 25 June 2025.

MiniMBA has performed strongly since acquisition by Brave Bison, with the division reporting 18% organic revenue growth from the first cohort of learners in 2026, and recently announced two of its largest-ever contract wins.

Following the Option Exercise, no further Ordinary Shares are capable of exercise under the Option and the new Ordinary Shares issued are locked in until 15 July 2027.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 18 June 2026 and the new Ordinary Shares will, on issue, rank pari passu in all respects with the Company's existing Ordinary Shares.

On Admission, Mark Ritson will be beneficially interested in 8,163,264 Ordinary Shares, representing 7.0% of the Company's enlarged issued share capital.

Mark Ritson, Founder of MiniMBA, commented:

"I'm delighted to be increasing my investment in Brave Bison. Having seen the business up close since the acquisition last year, I'm more convinced than ever that it's built on the right things - discipline, genuine commercial substance, and people who know what they're doing. I'm fully committed to the future here, and I'm backing that belief with my own money."

Total Voting Rights

On Admission, the Company will have a total of 116,319,751 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 116,319,751 may be used by the Company's shareholders as the denominator in the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.