AGM Statement

Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of minimally invasive surgical endoscopy for pre-cancer and cancer patients, provides an update to shareholders ahead of its Annual General Meeting ("AGM") being held today at the offices of Osborne Clarke LLP at Halo, Counterslip, Bristol BS1 6AJ.

Addressing shareholders, Kevin T. Crofton, Non-Executive Chairman, will say:

"As previously reported, the FY25 growth momentum has continued into FY26 with strong trading performance in the first three months of the current financial year. Year-on-year revenue growth (Q1 FY26 vs Q1 FY25) was approximately 60%, at the higher end of management's expectations, reflecting continued customer adoption, growing procedural volumes and further conversion of the Group's commercial pipeline into revenue across our key markets. As set out in our FY25 Results, this strong performance underpins the Board's confidence in the ongoing growth of the business and we believe that full year FY26 revenue growth will be between 50% and 60% compared to FY25 (previous guidance was between 40% and 60% growth).

"Recent clinical and commercial updates have also demonstrated the breadth of opportunity across our core range of products. Since April, the Group has announced further evidence of adoption and engagement, including: Speedboat, the first use of Speedboat in a UK private hospital as well as a key opinion leader's presentation on Creo's core products at Digestive Disease Week; SpydrBlade Flex, highlighting the use of SpydrBlade Flex in novel BEAM procedures; and a commercial update on MicroBlate Fine. Together, these developments reinforce the increasing relevance of our products to clinicians and healthcare providers in our target markets.

"Alongside this commercial progress, we remain focussed on improving the operational efficiency and financial discipline of the business. On 16 April 2026 we announced the sale and outsourcing of our manufacturing operations, which we expect to reduce annual operating costs by over £1.0m, representing a further 15% reduction from the FY25 closing run rate on a pro forma basis, whilst supporting continuity of supply and manufacturing quality.

"Given the scale of the near-term growth opportunity, we have also taken steps to strengthen the Group's balance sheet and support the next phase of commercial execution. The recently completed placing raised gross proceeds of £5.5 million, with Directors subscribing for £2.15 million in the placing. We also announced the constitution of a convertible loan note instrument and the conditional subscription for, in aggregate, £2.0 million (before expenses) of loan notes by Development Bank of Wales which completed simultaneously with the funding round.

"The proceeds will support inventory, customer roll-out and commercial expansion at a point of accelerating demand. Together with the expected benefits of the manufacturing outsourcing and the proposed sale of our remaining 49% interest in Creo Medical Europe, subject to completion, we believe these actions provide the Group with sufficient cash resources to fund its development towards to sustainable cash flow generation and profitability.

"Creo enters the remainder of 2026 with strong commercial momentum, strengthened foundations and a more focussed operating model. On behalf of the Board, I thank our shareholders for their continued support as we continue to execute against our strategy and build long term value."