Trading Statement

At the Annual General Meeting to be held at 12 noon today, Laurence Hollingworth, Chair of Clarksons, will refer to the following trading statement covering the period from 1 January to 6 May 2026.

Current Trading

The Group has had an excellent start to the year, driven by good market fundamentals and increasing demand for industry expertise. The conflict in the Middle East has resulted in greater complexity across global shipping, which has affected each area of our business differently, pushing up rates in certain of these markets and demanding the very best from each of our teams.

• The Broking division performed strongly, generating spot business, revenue and profits materially ahead of the same period last year as geo-political complexity, robust trading flows and extended voyage distances supported elevated chartering rates and asset prices.
• The Financial division benefitted from positive capital‑market sentiment in the early part of the year, with the investment banking team successfully executing a good number of mandates for clients and developing a strong pipeline of potential opportunities.
• The Research division increased both revenue and profitability in the first part of the year. Clients continue to value the division's market‑leading data and insights as they navigate complexities caused by disruptions to global shipping.
• The Support division faced a more challenging trading environment, influenced by UK government policy on new oil and gas development and delays to offshore energy projects. The Egyptian Agency business remains impacted by lower levels of Suez Canal transits but is well positioned to support clients as activity returns.
• The Group was pleased to announce the recent acquisitions of the Link Group of Companies ("Link"), Zuma Labs Limited ("Zuma") and Serpac International SAC ("Serpac"). These acquisitions enhance the Group's global capabilities and reinforce our commitment to investing across every segment of the Group in market‑leading businesses, which are accretive for shareholders. Each of these businesses continues to trade in line with management's expectations at the time of acquisition.

Outlook

The trend of increased global trade dislocation and complexity which we have seen over the last decade has continued. The Board recognises that the situation in the Middle East continues to evolve and may impact trading dynamics.

While it is still early in the year, the Group's strong start to date and current momentum has enhanced the Board's confidence in its expectations for the year.

Our recent acquisitions of Link, Serpac and Zuma highlight our continued focus on expanding and enhancing the business and we remain well positioned to take advantage of further opportunities in a trading environment that continues to support growth.