Trading Update

Camellia Plc (the "Company" or the "Group") today provides an update on trading and its expectations for the year ending 31 December 2026.

As outlined in the half year results, the operating companies have invested considerable effort in improving efficiency and have made progress. However, these benefits are being outweighed by the global rise in energy, fuel, fertiliser and transportation costs during 2026. Trading has also been affected by a downturn in global avocado and macadamia nut prices and lower crop yields for both products. As a result, Camellia’s trading result for 2026 is expected to be weaker than previously anticipated. The previously announced growth projects continue to progress as planned.

The Group has seen stronger trading performances in the Bangladesh, India and Eastern Produce Kenya tea businesses and the Brazilian arable business is performing in line with expectations. This has been more than offset by weaker results from Kakuzi, as reflected in their announcement on the 22 October, and from Malawi and South Africa. JING has continued to make good progress towards achieving positive trading profits despite the downturn in its important Gulf States markets. Weaker North Sea activity is expected to result in disappointing trading results at AJT.

The Board currently forecasts full-year revenue to be between £255 million and £260 million, compared with £268 million in 2025. The reduction principally reflects the sale of some Indian tea gardens and lower macadamia and avocado sales.

The current forecast is for a full-year trading loss of between £3-5 million, compared with a trading profit of £1.0 million in 2025. The final trading result for the full year will be influenced by the phasing and seasonality of agricultural production and sales in the fourth quarter.

The Board currently forecasts profits of approximately £23 million from disposals of property, plant and equipment, and assets classified as held for sale, principally reflecting disposals of artwork and tea gardens undertaken during the year. The resulting EBITDA for the year is expected to be in the range of £25-28 million.

The Group's balance sheet remains strong. At 30 September 2026, total Group liquidity was approximately £144 million.

The Board remains focused on progressing the Company’s Value Enhancement Plan, improving the underlying profitability of the operating businesses and advancing its investment and portfolio initiatives. It remains confident that work within the operating companies, together with the head office cost reduction initiatives, will deliver the planned medium-term improvement in the Company’s trading performance. The outturn for 2026 is no indicator of 2027 or future performance.

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